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    "concept": "KME:IncreaseDecreaseInFinancialLiabilitiesClassifiedAsFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98121": {
   "value": "-16347000",
   "decimals": -3,
   "dimensions": {
    "concept": "KME:IncreaseDecreaseInFinancialReceivablesClassifiedAsFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98125": {
   "value": "-205000",
   "decimals": -3,
   "dimensions": {
    "concept": "KME:IncreaseDecreaseInFinancialReceivablesClassifiedAsFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98131": {
   "value": "15496000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98135": {
   "value": "4172000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:InterestPaidClassifiedAsFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98142": {
   "value": "-14956000",
   "decimals": -3,
   "dimensions": {
    "concept": "KME:IncreaseDecreaseInOtherFinancialLiabilitiesClassifiedAsFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98147": {
   "value": "0",
   "decimals": -3,
   "dimensions": {
    "concept": "KME:IncreaseDecreaseInOtherFinancialLiabilitiesClassifiedAsFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98155": {
   "value": "12177000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98159": {
   "value": "-292000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98170": {
   "value": "20018000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98174": {
   "value": "-10717000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98182": {
   "value": "104174000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalentsInSubsidiaryOrBusinessesAcquiredOrDisposed2013",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
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  },
  "f98187": {
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   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalentsInSubsidiaryOrBusinessesAcquiredOrDisposed2013",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
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  },
  "f98196": {
   "value": "-46000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
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  },
  "f98201": {
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   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "f98216": {
   "value": "128844000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
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  },
  "f98220": {
   "value": "4698000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
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  "s7_notes__6__16": {
   "value": "Note esplicative al Bilancio consolidato 2022 1.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Informazioni generali </span></span>KME <span class=\"_ _0\"></span>Group <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span>Societ\u00e0 <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>Azioni <span class=\"_ _0\"></span>iscritta <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>Italia <span class=\"_ _22\"></span>presso <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>registro <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>imprese <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>Milano <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>il numero <span class=\"_ _22\"></span>00931330583 <span class=\"_ _22\"></span>ed <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>suoi <span class=\"_ _22\"></span>titoli <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>quotati <span class=\"_ _22\"></span>presso <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>mercato <span class=\"_ _23\"></span><span class=\"ff5a\">Euronext</span> <span class=\"_ _22\"></span><span class=\"ff5a\">Milan</span> <span class=\"_ _22\"></span>organizzato <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>gestit<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>da Borsa Italiana SpA. La Societ\u00e0 ha la p<span class=\"_ _0\"></span>ropria sede sociale in Fo<span class=\"_ _0\"></span>ro Buonaparte 44 <span class=\"ff5d\">\u2013</span> Milano<span class=\"_ _0\"></span>. KME <span class=\"_ _0\"></span>Group <span class=\"_ _0\"></span><span class=\"ff5d\">(\u201cKME\u201d, <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>\u201cSociet\u00e0\u201d</span> <span class=\"_ _0\"></span><span class=\"ff5d\">o <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>\u201cCapogruppo\u201d</span>) <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span><span class=\"ff5a\">holding</span> <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _0\"></span>indirizzata, fino <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>22 <span class=\"_ _2b\"></span>aprile <span class=\"_ _2b\"></span>2022, <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>gestione <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>beni <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>partecipazioni<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>portafoglio <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>stata <span class=\"_ _2b\"></span>orientata <span class=\"_ _2b\"></span>da <span class=\"_ _2b\"></span>u<span class=\"ff5d\">n\u2019ottica<span class=\"_ _0\"></span> </span>imprenditoriale <span class=\"_ _2b\"></span>dinamica <span class=\"_ _29\"></span>focalizzata <span class=\"_ _2b\"></span>sulla <span class=\"_ _29\"></span>generazione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>cassa <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>sull\u2019accrescimento <span class=\"_ _29\"></span>del <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>tempo <span class=\"_ _2b\"></span>degli investimenti, anche attraverso cessioni funzio<span class=\"_ _0\"></span>nali alle strategie di sviluppo.<span class=\"_ _0\"></span> In <span class=\"_ _28\"></span>data <span class=\"_ _2c\"></span>22 <span class=\"_ _2c\"></span>aprile <span class=\"_ _28\"></span>2022<span class=\"_ _0\"></span>, <span class=\"_ _28\"></span>il <span class=\"_ _2c\"></span>Consiglio <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>Amministrazione <span class=\"_ _2d\"> </span>della <span class=\"_ _28\"></span>Societ\u00e0 <span class=\"_ _28\"></span>ha <span class=\"_ _2c\"></span>deliberato <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>adottare <span class=\"_ _2c\"></span>una strategia volta a <span class=\"_ _29\"></span>concentrare la propria attivit\u00e0 <span class=\"_ _29\"></span>sulla gestione <span class=\"_ _29\"></span>industriale della partecipazione <span class=\"_ _29\"></span>in KME SE <span class=\"_ _29\"></span>ed in particolare <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>settore <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>laminati <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>rame <span class=\"_ _22\"></span><span class=\"ff5d\">(\u201cNuova <span class=\"_ _22\"></span>Strategia\u201d)</span>; <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>investiment<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>assunto <span class=\"_ _22\"></span>valenza di <span class=\"_ _22\"></span>partecipazione <span class=\"_ _22\"></span>duratura. <span class=\"_ _22\"></span>Per <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>investimenti <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _23\"></span>definito <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>individuare <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>migliori <span class=\"_ _23\"></span>opportunit\u00e0 <span class=\"_ _0\"></span>di valorizzazione, attraverso la dismissione a terzi o<span class=\"_ _0\"></span> l\u2019assegnazione ai soci.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>In <span class=\"_ _2b\"></span>linea <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>Nuova <span class=\"_ _2b\"></span>Strategia, <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _2b\"></span>dal <span class=\"_ _2b\"></span>23 <span class=\"_ _2b\"></span>settembre <span class=\"_ _2b\"></span>2022 <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>modificato <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>propria <span class=\"_ _2b\"></span>denominazione sociale da Intek Group SpA a KME Gr<span class=\"_ _0\"></span>oup SpA. Il <span class=\"ls0\">bilancio consolidato al 31 dicembre 2<span class=\"_ _0\"></span>022 <span class=\"_ _0\"></span><span class=\"ff5d\">(il \u201cBilancio Consolidato\u201d</span></span>) <span class=\"_ _0\"></span><span class=\"ls0\">\u00e8 stato oggetto di app<span class=\"_ _0\"></span>rovazione </span>da <span class=\"_ _23\"></span>parte <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>Consiglio <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>Amministrazione <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span><span class=\"ls1\">28</span> <span class=\"_ _22\"></span>marzo <span class=\"_ _23\"></span>2023 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>verr\u00e0 <span class=\"_ _23\"></span>pubblicato <span class=\"_ _22\"></span>nei <span class=\"_ _23\"></span>previsti <span class=\"_ _23\"></span>termini <span class=\"_ _22\"></span>di legge e di regolamento. La Societ\u00e0, <span class=\"_ _0\"></span>pur essendo <span class=\"_ _0\"></span>controllata <span class=\"_ _0\"></span>da Quattrodu<span class=\"_ _0\"></span>edue Holding <span class=\"_ _0\"></span>B.V., <span class=\"_ _0\"></span>attraverso <span class=\"_ _0\"></span>la contro<span class=\"_ _0\"></span>llata totalitaria Quattroduedue <span class=\"_ _23\"></span>SpA, <span class=\"_ _28\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>soggetta <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>direzione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>coordinamento<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>cos\u00ec <span class=\"_ _23\"></span>come <span class=\"_ _28\"></span>prevista <span class=\"_ _23\"></span>dagli <span class=\"_ _23\"></span>artt<span class=\"lsd\">. </span>2497 e ss. del Codice Civile nonch\u00e9 dell\u2019art. 37<span class=\"_ _0\"></span> del Regolamento Mercati, in quanto:<span class=\"_ _0\"></span><span class=\"ff56\"> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">\u00e8 provvista di una autonoma capacit\u00e0 negoziale nei rapp<span class=\"_ _0\"></span>orti con la clientela ed i fornitori;<span class=\"_ _0\"></span> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">non <span class=\"_ _2c\"></span>ha <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>essere <span class=\"_ _2d\"> </span>con <span class=\"_ _2c\"></span>la <span class=\"_ _2d\"> </span>controllante <span class=\"_ _2c\"></span>o <span class=\"_ _2d\"> </span>altra <span class=\"_ _2d\"> </span>societ\u00e0 <span class=\"_ _2c\"></span>facente <span class=\"_ _2d\"> </span>capo <span class=\"_ _2c\"></span>ad <span class=\"_ _2d\"> </span>essa <span class=\"_ _2c\"></span>alcun <span class=\"_ _2d\"> </span>rapporto <span class=\"_ _2c\"></span>di </span>tesoreria accentrata. 2.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Criteri contabili adottati </span></span>2.1.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Qualifica di entit\u00e0 di investimento <span class=\"_ _0\"></span> Il <span class=\"_ _22\"></span>sopra <span class=\"_ _22\"></span>descritto <span class=\"_ _23\"></span>cambiamento <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>strategia, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>compo<span class=\"_ _0\"></span>rta <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>focalizzazione <span class=\"_ _22\"></span>dell<span class=\"_ _0\"></span>\u2019attivit\u00e0 <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>gestione<span class=\"_ _0\"></span> industriale <span class=\"_ _2c\"> </span>dell\u2019i<span class=\"ff56\">nvestimento <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"></span>SE, <span class=\"_ _2c\"></span>ha <span class=\"_ _2c\"></span>fatto <span class=\"_ _2c\"></span>venir <span class=\"_ _2c\"> </span>meno <span class=\"_ _2c\"> </span>la <span class=\"_ _2c\"> </span>finalit\u00e0 <span class=\"_ _2c\"> </span>com<span class=\"_ _0\"></span>merciale <span class=\"_ _28\"></span>dell<span class=\"_ _0\"></span>a <span class=\"_ _2c\"></span>Societ\u00e0 <span class=\"_ _2c\"></span>volta </span>all\u2019ottenimento <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>rendimenti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>azionisti <span class=\"_ _23\"></span>esclusivamente <span class=\"_ _22\"></span>dall<span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>rivalutazione <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>capitale <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>dai <span class=\"_ _23\"></span>proventi degli investimenti; <span class=\"_ _2b\"></span>da qui, <span class=\"_ _2b\"></span>peraltro<span class=\"_ _0\"></span>, <span class=\"_ _29\"></span>deriva <span class=\"_ _29\"></span>anche <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>veni<span class=\"ff5d\">r meno <span class=\"_ _2b\"></span>dell\u2019<span class=\"_ _0\"></span>utilizzo del <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _29\"></span>come <span class=\"_ _29\"></span>base <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>calcolo </span></span></span>e di valutazione interna degli investimenti.<span class=\"_ _0\"></span> Queste <span class=\"_ _22\"></span>modifiche <span class=\"_ _23\"></span>hanno <span class=\"_ _23\"></span>fatto <span class=\"_ _22\"></span>perdere <span class=\"_ _22\"></span>alla <span class=\"_ _23\"></span>Societ\u00e0 <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>requisiti, <span class=\"_ _22\"></span>previsti <span class=\"_ _22\"></span>dai <span class=\"_ _23\"></span>paragrafi <span class=\"_ _22\"></span>27<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>28 <span class=\"_ _22\"></span>dell\u2019IFRS 10, <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>alifica <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span><span class=\"ff5d\">\u201c</span>entit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>investimento<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d</span><span class=\"lsb\">, <span class=\"_ _0\"></span></span>sulla <span class=\"_ _22\"></span>base <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>erano <span class=\"_ _0\"></span>stati <span class=\"_ _22\"></span>redatti <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>precedenti <span class=\"_ _22\"></span>bilanci <span class=\"_ _0\"></span>a partire da quello al 31 dicembre 2014.<span class=\"_ _0\"></span> La <span class=\"_ _0\"></span>Societ\u00e0 <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>cessato,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>quindi, <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>essere <span class=\"_ _0\"></span>\u201centit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>investimento<span class=\"_ _0\"></span>\u201d <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>decorrere <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>cambio di <span class=\"_ _28\"></span>stato <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>verificato <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>q<span class=\"_ _0\"></span>uindi <span class=\"_ _28\"></span>dal <span class=\"_ _28\"></span>22 <span class=\"_ _2c\"></span>aprile <span class=\"_ _28\"></span>2022. <span class=\"_ _28\"></span>Ci\u00f2 <span class=\"_ _28\"></span>ha <span class=\"_ _28\"></span>comp<span class=\"_ _0\"></span>ortato, <span class=\"_ _28\"></span>pertanto, <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>mod<span class=\"_ _0\"></span>ifica <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>criteri <span class=\"_ _28\"></span>di valutazione degli investimenti <span class=\"_ _0\"></span>partecipativi (voce dell\u2019attivo <span class=\"_ _0\"></span>\u201cInvestimenti in <span class=\"_ _0\"></span>partecipazioni e quote di <span class=\"_ _0\"></span>fondi\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> </span>presente sino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>bilancio <span class=\"_ _0\"></span>consolidato <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre 202<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>) <span class=\"_ _0\"></span>per i <span class=\"_ _0\"></span>quali <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>viene <span class=\"_ _0\"></span>sostituito <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>criterio del <span class=\"_ _22\"></span>costo; <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>riguardo, <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value</span> <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>perdita <span class=\"_ _0\"></span>della <span class=\"_ _23\"></span>qualifica <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>entit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>investimento<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>rappresenta <span class=\"_ _22\"></span>il nuovo <span class=\"_ _2d\"> </span>costo. <span class=\"_ _2d\"> </span>Per <span class=\"_ _2c\"> </span>maggiori <span class=\"_ _2d\"> </span>dettagli, <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>l<span class=\"_ _29\"></span>\u2019ulteriore <span class=\"_ _2d\"> </span>informativa <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>tabile <span class=\"_ _2d\"> </span>ai <span class=\"_ _2c\"> </span>sensi <span class=\"_ _2d\"> </span>dell\u2019IFRS <span class=\"_ _2d\"> </span>12, <span class=\"_ _2d\"> </span>si <span class=\"_ _2c\"> </span>r<span class=\"_ _22\"></span><span class=\"ff56\">invia <span class=\"_ _2d\"> </span>al </span>commento relativo alla voce di bilancio.<span class=\"_ _0\"></span> Il <span class=\"_ _2b\"></span>presente <span class=\"_ _2b\"></span>Bilancio <span class=\"_ _2b\"></span>Consolidato <span class=\"_ _2b\"></span>rappresenta <span class=\"_ _2b\"></span>pertanto, <span class=\"_ _2b\"></span>dopo <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>esercizi, <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>primo <span class=\"_ _2b\"></span>bilancio <span class=\"_ _2b\"></span>del <span class=\"_ _3d\"></span>Grup<span class=\"_ _0\"></span>po in <span class=\"_ _2c\"></span>cui <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>Capogruppo <span class=\"_ _2c\"> </span>non <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>qualifica <span class=\"_ _28\"></span>quale <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>investimento<span class=\"_ _0\"></span>. <span class=\"_ _2d\"> </span>Pertanto, <span class=\"_ _28\"></span>nella <span class=\"_ _2c\"> </span>redazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>presente Bilancio <span class=\"_ _28\"></span>C<span class=\"ff5d\">onsolidato<span class=\"_ _0\"></span>, <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>decorrere <span class=\"_ _28\"> </span>dalla <span class=\"_ _2c\"> </span>data <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>\u201ccambio <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>stato\u201d, <span class=\"_ _28\"></span>ha <span class=\"_ _28\"> </span>avu<span class=\"_ _0\"></span>to <span class=\"_ _28\"></span>luogo <span class=\"_ _28\"> </span>la <span class=\"_ _2c\"> </span>disapplicazione <span class=\"_ _28\"></span>delle </span>previsioni <span class=\"_ _2b\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>10<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>relative <span class=\"_ _2b\"></span>alle <span class=\"_ _29\"></span><span class=\"ff5a\">investment <span class=\"_ _2b\"></span>entities<span class=\"ff56\"> <span class=\"_ _29\"></span>che <span class=\"_ _2b\"></span>comportavano <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>consolidamento </span></span>degli investimenti <span class=\"_ _2b\"></span>detenuti in <span class=\"_ _2b\"></span>societ\u00e0 controllate non <span class=\"_ _2b\"></span>strumentali e <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>loro<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>valutazione <span class=\"_ _29\"></span>al <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> con <span class=\"_ _2b\"></span>impatto </span></span>a conto economico ai sensi dell\u2019IFRS 9, come previst<span class=\"_ _0\"></span>o dal paragrafo 31 dell\u2019IFRS 10. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Si <span class=\"_\"> </span>precisa <span class=\"_ _2a\"> </span>che, <span class=\"_\"> </span>ai <span class=\"_ _2a\"> </span>sensi <span class=\"_\"> </span>del <span class=\"_ _2a\"> </span>paragrafo <span class=\"_\"> </span>30 <span class=\"_ _2a\"> </span>dell\u2019IFRS <span class=\"_\"> </span>10, <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>cambiamento <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>stato <span class=\"_\"> </span>\u00e8 <span class=\"_ _2a\"> </span>contabilizzato prospetticamente a partire dalla data in cui <span class=\"_ _0\"></span>detto cambiamento si \u00e8 verificato.<span class=\"_ _0\"></span> Il <span class=\"_ _2c\"> </span><span class=\"ls0\">pr<span class=\"_ _0\"></span>esente <span class=\"_ _2d\"> </span>Bilancio <span class=\"_ _2c\"></span>Consolidato<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>evede <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>indi <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>consolidamento <span class=\"_ _2d\"> </span>integrale <span class=\"_ _2c\"></span>del<span class=\"_ _0\"></span>le <span class=\"_ _2d\"> </span>partecipazioni <span class=\"_ _2c\"> </span>di </span>controllo, <span class=\"_ _0\"></span>riflettendo <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>effetti <span class=\"_ _0\"></span>contabil<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>menzionato <span class=\"_ _22\"></span>\u201ccambio <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>stato\u201d. <span class=\"_ _22\"></span>Si <span class=\"_ _0\"></span>rimanda <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>paragrafo <span class=\"_ _0\"></span>\u201cPrin<span class=\"_ _0\"></span>cipi di consoli<span class=\"_ _0\"></span>damento\u201d per <span class=\"_ _0\"></span>ulteriori <span class=\"_ _0\"></span>informazioni <span class=\"_ _0\"></span>sull\u2019area <span class=\"_ _0\"></span>di consoli<span class=\"_ _0\"></span>damento al <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022, <span class=\"_ _22\"></span><span class=\"ff56\">ampliatasi <span class=\"_ _0\"></span>in </span>maniera significativa rispetto <span class=\"_ _0\"></span>a quella al 31 dicembre 2021. 2.2.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Criteri di redazione Il <span class=\"ls0\">bilancio consolidato <span class=\"_ _0\"></span>al 31 dicembre 2022 <span class=\"_ _0\"></span><span class=\"ff5d\">\u00e8 stato redatto ai sensi <span class=\"_ _0\"></span>dell\u2019art. 154 <span class=\"ff5a\">ter</span></span> del <span class=\"_ _0\"></span>D. Lgs. 58/19<span class=\"_ _0\"></span>98 </span>ed <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>conforme <span class=\"_ _2b\"></span>agli <span class=\"_ _29\"></span><span class=\"ff5a\">International <span class=\"_ _2b\"></span>Financial <span class=\"_ _29\"></span>Reporting <span class=\"_ _2b\"></span>Standards<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>(IFRS) <span class=\"_ _29\"></span>emanati <span class=\"_ _2b\"></span>da<span class=\"ff5d ls9\">ll\u2019</span><span class=\"ff5a\">Internationa<span class=\"_ _0\"></span>l <span class=\"_ _2b\"></span>Accounting </span></span></span>Standards <span class=\"_ _28\"></span>Board <span class=\"_ _2c\"></span><span class=\"ff5d\">(IASB) <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>ado<span class=\"_ _0\"></span>ttati <span class=\"_ _28\"></span>dalla <span class=\"_ _2c\"> </span>Commissione <span class=\"_ _2c\"> </span>Europea <span class=\"_ _28\"> </span>secondo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>la <span class=\"_ _2c\"> </span>procedura <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>cui <span class=\"_ _2c\"> </span>all\u2019art. <span class=\"_ _28\"></span>6 <span class=\"_ _2c\"> </span>del </span>Regolamento <span class=\"_ _2d\"> </span>(CE) <span class=\"_ _2d\"> </span>n. <span class=\"_ _2a\"> </span>1606/2002 <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Parlamento <span class=\"_ _2d\"> </span>Europeo <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Consiglio <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>19 <span class=\"_ _2d\"> </span>luglio <span class=\"_ _2a\"> </span>2002 <span class=\"_ _2d\"> </span>nonch\u00e9 <span class=\"_ _2d\"> </span>ai provvedimenti emanati in at<span class=\"ff5d\">tuazion<span class=\"_ _0\"></span>e dell\u2019art. 9 del D. Lgs. n. 38/2005.<span class=\"_ _0\"></span></span> Ai <span class=\"_ _2c\"></span>fini <span class=\"_ _2c\"></span>del <span class=\"_ _28\"></span>presente <span class=\"_ _2c\"></span>Bilancio <span class=\"_ _2c\"> </span>Con<span class=\"_ _0\"></span>solidato <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>stati <span class=\"_ _28\"></span>ut<span class=\"_ _0\"></span>ilizzati <span class=\"_ _2c\"></span>dati <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>principi <span class=\"_ _2c\"></span>contabili uniformi e coerenti.  Il <span class=\"_ _28\"></span><span class=\"ls0\">bilancio <span class=\"_ _28\"></span>consolidato <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _28\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>costituito <span class=\"_ _28\"></span>dal <span class=\"_ _2c\"></span>prospetto <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>situazione <span class=\"_ _28\"></span>patrimoniale-</span>finanziaria <span class=\"_ _2a\"> </span>consolidata, <span class=\"_ _2d\"> </span>dal <span class=\"_ _2a\"> </span>prospetto <span class=\"_ _2d\"> </span>dell\u2019utile <span class=\"_\"> </span>(pe<span class=\"_ _29\"></span>rdita) <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>delle <span class=\"_\"> </span>altre <span class=\"_ _2d\"> </span>componenti <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>conto economico complessivo consolidato,<span class=\"_ _0\"></span> dal rendiconto finanziario consolidato, dal p<span class=\"_ _0\"></span>rospetto d<span class=\"_ _0\"></span>elle variazioni del<span class=\"_ _0\"></span> patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>consolidato, <span class=\"_ _22\"></span>nonch\u00e9 <span class=\"_ _23\"></span>dalle <span class=\"_ _22\"></span>relative <span class=\"_ _22\"></span>not<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>esplicative. <span class=\"_ _22\"></span>Le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>realizzare <span class=\"_ _23\"></span>o estinguere <span class=\"_ _2d\"> </span>entro <span class=\"_ _2d\"> </span>dodici <span class=\"_ _2d\"> </span>mesi <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>data <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>riferimento <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>bilancio <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"> </span>detenut<span class=\"_ _0\"></span>e <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>scopo <span class=\"_ _2d\"> </span>di negoziazione sono <span class=\"_ _0\"></span>classificate come corr<span class=\"_ _0\"></span>enti; il conto<span class=\"_ _0\"></span> economico consolidato<span class=\"_ _0\"></span> \u00e8 redatto secondo<span class=\"_ _0\"></span> il metodo <span class=\"_ _0\"></span>dei costi per natura. I <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ospetti <span class=\"_ _23\"></span>contabili <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>note <span class=\"_ _23\"></span>esplicative <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span>bilancio <span class=\"_ _23\"></span>consolidato <span class=\"_ _23\"></span>presentano, <span class=\"_ _23\"></span>oltre <span class=\"_ _22\"></span>agli <span class=\"_ _23\"></span>importi <span class=\"_ _22\"></span>relativi all\u2019esercizio <span class=\"ff56\">di riferimento, anche i <span class=\"_ _0\"></span>c</span>orrispondenti dati di raffront<span class=\"_ _0\"></span>o con l\u2019esercizio precedente. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Si <span class=\"_ _28\"></span>precisa <span class=\"_ _2c\"></span>che <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>saldi <span class=\"_ _28\"></span>co<span class=\"_ _0\"></span>mparativi <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>2021 <span class=\"_ _2c\"></span>non <span class=\"_ _28\"></span>sono <span class=\"_ _2d\"> </span>immediatamente <span class=\"_ _28\"></span>comparabili <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>quelli <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>31 dicembre <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>quanto <span class=\"_ _2d\"> </span>qu<span class=\"_ _0\"></span>esti <span class=\"_ _2d\"> </span>ultimi <span class=\"_ _2d\"> </span>rispecchiano <span class=\"_ _2d\"> </span>l\u2019ampliamento <span class=\"_ _2d\"> </span>dell\u2019area <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>consolidamento <span class=\"_ _2d\"> </span>integ<span class=\"_ _0\"></span><span class=\"ff56\">rale </span>conseguente <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>perdita <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>qualifica <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>investimento<span class=\"_ _0\"></span>, <span class=\"_ _28\"></span>con<span class=\"_ _0\"></span>tabilizzata, <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>sensi <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>paragrafo <span class=\"_ _2c\"></span>30 dell\u2019IFRS <span class=\"_ _3c\"> </span>10, <span class=\"_ _41\"> </span>prospetticamente <span class=\"_ _3c\"> </span>a <span class=\"_ _41\"> </span>par<span class=\"_ _0\"></span>tire <span class=\"_ _3c\"> </span>dalla <span class=\"_ _41\"> </span>data <span class=\"_ _3c\"> </span>in <span class=\"_ _41\"> </span>cui <span class=\"_ _3c\"> </span>detto <span class=\"_ _3c\"> </span>cambiamento <span class=\"_ _3c\"> </span>si <span class=\"_ _41\"> </span>\u00e8 <span class=\"_ _3c\"> </span>verificato <span class=\"_ _41\"> </span>senza<span class=\"_ _0\"></span> rideterminazione dei comparativi.<span class=\"_ _0\"></span> Dal <span class=\"_ _22\"></span>punt<span class=\"_ _0\"></span><span class=\"ff5d\">o <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>vista <span class=\"_ _23\"></span>contabile, <span class=\"_ _22\"></span>l\u2019ampliamento <span class=\"_ _23\"></span>dell\u2019area <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>consolidamento <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>stata <span class=\"_ _22\"></span>effettuata <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>30 <span class=\"_ _23\"></span>aprile </span>2022, prevedendo quindi, <span class=\"_ _29\"></span>ai fini del <span class=\"_ _29\"></span>presente Bilancio Consolidato, il consolidamento dei <span class=\"_ _29\"></span>saldi patrimoniali al 31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>tutte le <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>rientranti<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">nell\u2019area <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>consolidamento<span class=\"_ _0\"></span> e <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>flussi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>conto <span class=\"_ _0\"></span>econo<span class=\"_ _0\"></span>mico e </span>finanziari relativi agli <span class=\"_ _2b\"></span>otto<span class=\"_ _0\"></span> <span class=\"ff5d\">me<span class=\"_ _29\"></span>si da <span class=\"_ _29\"></span>maggio a <span class=\"_ _29\"></span>dicembre 2022 <span class=\"_ _2b\"></span>per le entit\u00e0 <span class=\"_ _29\"></span>confluite nell\u2019area <span class=\"_ _2b\"></span>di consolidamento </span>del Gruppo, a seguito del <span class=\"_ _0\"></span>venir meno della qualifica di <span class=\"ff5e\">\u201c</span>entit<span class=\"_ _0\"></span>\u00e0 di investimento<span class=\"ff5e\">\u201d</span>. Per <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>composizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>quanto <span class=\"_ _2d\"> </span>indicato <span class=\"_ _2d\"> </span>nel <span class=\"_ _2d\"> </span>paragrafo \u201cPrincipi di consolidamento\u201d<span class=\"_ _0\"></span><span class=\"ff56\">. </span>Con <span class=\"_ _2c\"> </span>riferimento <span class=\"_ _2d\"> </span>ai <span class=\"_ _2c\"></span>prospetti <span class=\"_ _2c\"> </span>contabili <span class=\"_ _2d\"> </span>consolidati <span class=\"_ _2c\"></span>si <span class=\"_ _2c\"></span>evidenzia <span class=\"_ _2d\"> </span>che, <span class=\"_ _2c\"></span>rispetto <span class=\"_ _2c\"></span>a <span class=\"_ _2d\"> </span>quelli <span class=\"_ _2c\"></span>presentati <span class=\"_ _2c\"></span>nella relazione <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>annu<span class=\"ff5d\">ale <span class=\"_ _22\"></span>2021<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>stati <span class=\"_ _22\"></span>adeguati <span class=\"_ _22\"></span>(si <span class=\"_ _23\"></span>rimanda <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quanto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>indicato <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>paragrafo <span class=\"_ _22\"></span>\u201cBase <span class=\"_ _23\"></span>di </span>presentazione\u201d) <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>accogliere <span class=\"_ _2d\"> </span>le <span class=\"_\"> </span>voci <span class=\"_ _2a\"> </span>tipiche <span class=\"_ _2d\"> </span>di <span class=\"_\"> </span>un\u2019impresa <span class=\"_ _2d\"> </span>industriale <span class=\"_\"> </span>che <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2a\"> </span>non <span class=\"_ _2a\"> </span>erano rappresentate nei bilanci del Gruppo <span class=\"_ _0\"></span>(n\u00e9 della Capogruppo) in quanto n<span class=\"_ _0\"></span>on applicabili. Il <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>esente <span class=\"_ _23\"></span>Bilancio <span class=\"_ _22\"></span>Consolidato <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>redatto <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>presuppo<span class=\"_ _0\"></span>sto <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>continuit\u00e0 <span class=\"_ _23\"></span>aziendale, <span class=\"_ _22\"></span>secondo <span class=\"_ _23\"></span>quanto previsto <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>principio <span class=\"_ _28\"></span>contabile <span class=\"_ _28\"></span>IAS <span class=\"_ _23\"></span>1<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>rispetto <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>covenant <span class=\"_ _28\"></span>finanziari; <span class=\"_ _23\"></span>le <span class=\"_ _28\"></span>considerazioni <span class=\"_ _28\"></span>relative <span class=\"_ _28\"></span>alla continuit\u00e0 aziendale <span class=\"_ _2b\"></span>sono state <span class=\"_ _29\"></span>svolte <span class=\"_ _29\"></span>in relaz<span class=\"_ _29\"></span>ione <span class=\"_ _29\"></span>agli effetti <span class=\"_ _2b\"></span>del conflitto <span class=\"_ _29\"></span>in corso <span class=\"_ _2b\"></span>tra Russia <span class=\"_ _2b\"></span>e Ucraina <span class=\"_ _29\"></span>nonch\u00e9 delle conseguenze della pandemia Covid<span class=\"_ _0\"></span>-19 che continuano<span class=\"_ _0\"></span> a pesare sulle prospettive economiche mondiali.<span class=\"_ _0\"></span> Nella redazione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Bilancio <span class=\"_ _0\"></span>Consolidato<span class=\"_ _0\"></span> gli <span class=\"_ _0\"></span>Amministratori <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>principio della <span class=\"_ _3c\"> </span>competenza, <span class=\"_ _3c\"> </span>della <span class=\"_ _3c\"> </span>comprensibilit\u00e0, <span class=\"_ _3c\"> </span>significativit\u00e0, <span class=\"_ _3c\"> </span>rilevanza, <span class=\"_ _3c\"> </span>attendibilit\u00e0, <span class=\"_ _3c\"> </span>neutralit\u00e0, <span class=\"_ _3c\"> </span>prudenza <span class=\"_ _3c\"> </span>e comparabilit\u00e0 <span class=\"_ _23\"></span>ed <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>applicato <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>medesimi <span class=\"_ _22\"></span>principi <span class=\"_ _23\"></span>adottati <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>redazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>bi<span class=\"_ _0\"></span>lancio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>consolidato <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 dicembre <span class=\"ls1\">2021<span class=\"lsb\">, <span class=\"_ _29\"></span><span class=\"ls0\">fatto salvo <span class=\"_ _29\"></span>quanto indicato <span class=\"_ _29\"></span>nel paragrafo <span class=\"_ _29\"></span>precedente in <span class=\"_ _29\"></span>merito agli <span class=\"_ _29\"></span>investimenti partecipativi e </span></span></span>fatta eccezione per i principi contabili entrati in vi<span class=\"_ _0\"></span>gore al 1\u00b0 gennaio 2022. <span class=\"_ _0\"></span> Per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>dettaglio <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>principi <span class=\"_ _2b\"></span>contabili, <span class=\"_ _2b\"></span>emendamenti <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>interpretazioni <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>nuova <span class=\"_ _2b\"></span>applicazione <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>Gruppo, la <span class=\"_ _0\"></span>cui <span class=\"_ _22\"></span>applicazione <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>comportato <span class=\"_ _22\"></span>effetti <span class=\"_ _0\"></span>sul <span class=\"_ _22\"></span>patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>risultato <span class=\"_ _22\"></span>dell\u2019esercizio,<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>rimanda <span class=\"_ _22\"></span>al </span>paragrafo <span class=\"ff5d\">\u201cPrincipi contabili di nuova applicazion<span class=\"_ _0\"></span>e\u201d</span>. Il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>ancora <span class=\"_ _22\"></span>applicato <span class=\"_ _22\"></span>quei <span class=\"_ _23\"></span>principi <span class=\"_ _0\"></span>contabili, <span class=\"_ _22\"></span>elencati <span class=\"_ _22\"></span>successiv<span class=\"_ _0\"></span>amente <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>paragrafo <span class=\"_ _22\"></span>2.<span class=\"_ _0\"></span><span class=\"lsf\">10</span>, che, <span class=\"_ _28\"></span>pur <span class=\"_ _2c\"></span><span class=\"ls5\">se <span class=\"_ _2c\"></span></span>emanati <span class=\"_ _28\"></span>dallo <span class=\"_ _2c\"></span>IASB, <span class=\"_ _28\"></span>hanno <span class=\"_ _2c\"></span>data <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>decorrenza <span class=\"_ _2c\"></span>successiva <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>quella <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>riferimento <span class=\"_ _2c\"></span>del <span class=\"_ _28\"></span>presen<span class=\"_ _0\"></span>te Bilancio Consolidato <span class=\"ls1\">o </span>non hanno ancora completato<span class=\"_ _0\"></span> il processo di adozione da parte del<span class=\"_ _0\"></span><span class=\"ff5d\">l\u2019Unione Europea.<span class=\"_ _0\"></span></span>  Gli accadimenti e le operazioni aziendali sono<span class=\"_ _0\"></span> rilevati e rappresentati in conformit\u00e0 alla loro sostanza e realt\u00e0 economica e non solamente second<span class=\"_ _0\"></span>o la loro forma legale.<span class=\"_ _0\"></span> Apposite note <span class=\"_ _0\"></span>esplicative presenti <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span><span class=\"ff5a\">Relazione <span class=\"_ _0\"></span><span class=\"ff5e\">sull\u2019andamento d<span class=\"_ _0\"></span></span>ella gestione</span> <span class=\"_ _0\"></span>illustrano contenuto <span class=\"_ _0\"></span>e significato <span class=\"_ _23\"></span>degli <span class=\"_ _28\"></span>indicatori <span class=\"_ _23\"></span>alternativi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">perfo<span class=\"_ _0\"></span>rmance</span>, <span class=\"_ _23\"></span>se <span class=\"_ _28\"></span>utilizzati, <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>previsti <span class=\"_ _23\"></span>dagli <span class=\"_ _28\"></span>IFRS, <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>linea <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>la raccomandazione del CESR 05 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> 178b pubblicata il 3 novembre 2005.<span class=\"_ _0\"></span> Il <span class=\"_\"> </span>presente <span class=\"_ _2d\"> </span>bi<span class=\"_ _0\"></span>lancio <span class=\"_\"> </span>consolidato <span class=\"_\"> </span>\u00e8 <span class=\"_ _2d\"> </span>espre<span class=\"_ _0\"></span>sso <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>Euro, <span class=\"_ _2a\"> </span>moneta <span class=\"_ _2a\"> </span>funzionale <span class=\"_ _2a\"> </span>della <span class=\"_\"> </span>Capogruppo <span class=\"_\"> </span>e <span class=\"_ _2d\"> </span>d<span class=\"_ _0\"></span>elle principali <span class=\"_ _29\"></span>controllate <span class=\"_ _2b\"></span>consolidate. <span class=\"_ _29\"></span>I <span class=\"_ _2b\"></span>prospetti <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>dati delle <span class=\"_ _2b\"></span>note <span class=\"_ _29\"></span>esplicative, <span class=\"_ _2b\"></span>se <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>diversamente<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>indicato, sono riportati in migliaia di Euro. Inoltre, <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>contesto <span class=\"_ _28\"></span>conseguente <span class=\"_ _2c\"> </span>l\u2019epidemia <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>Covi<span class=\"_ _0\"></span><span class=\"ff56\">d-19 <span class=\"_ _28\"></span>nonch\u00e9 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>conflitto <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>Russia <span class=\"_ _2c\"></span>e </span>Ucraina, <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>redazione <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>Bilancio <span class=\"_ _22\"></span>Con<span class=\"_ _0\"></span>solidato <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>tenuto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>documenti <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>tipo <span class=\"_ _22\"></span>interpretativo <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>di supporto <span class=\"_ _2d\"> </span>all\u2019applicazione <span class=\"_ _2d\"> </span>dei <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipi <span class=\"_ _2d\"> </span>contabili <span class=\"_ _2c\"> </span>emanati <span class=\"_ _2d\"> </span>dagli <span class=\"_ _2d\"> </span>organismi <span class=\"_ _2d\"> </span>regolamentari <span class=\"_ _2c\"> </span>internazion<span class=\"_ _22\"></span><span class=\"ff56\">ali <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>di<span class=\"_ _0\"></span> </span>vigilanza <span class=\"_ _2a\"> </span>italiani <span class=\"_ _2d\"> </span>e <span class=\"_\"> </span>dagli <span class=\"_ _2d\"> </span><span class=\"ff5a\">stan<span class=\"_ _0\"></span>dard <span class=\"_ _2a\"> </span>setter</span> <span class=\"_ _2d\"> </span>(Richia<span class=\"_ _0\"></span>mi <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>attenzione <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>Consob <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span><span class=\"ff5a\">public <span class=\"_ _2a\"> </span>statement</span> <span class=\"_ _2d\"> </span>eman<span class=\"_ _0\"></span>ati dall\u2019ESMA).<span class=\"ff56\"> </span>Il formato elettronico unico di comunicazione p<span class=\"_ _0\"></span>er la redazione le relazioni finanziarie an<span class=\"_ _0\"></span>nuali<span class=\"_ _0\"></span> La <span class=\"_ _28\"> </span>Direttiva <span class=\"_ _2c\"> </span>2004/109/CE <span class=\"_ _2c\"> </span>(la <span class=\"_ _2c\"> </span>\u201cDirettiva <span class=\"_ _2c\"> </span><span class=\"ff5a\">Transparency</span>\u201d) <span class=\"_ _2c\"> </span>modificata <span class=\"_ _2c\"> </span>dalla <span class=\"_ _2c\"> </span>Direttiva <span class=\"_ _2c\"> </span>2013/50/UE <span class=\"_ _28\"> </span>e <span class=\"_ _2c\"> </span>il Regolamento <span class=\"_ _0\"></span>Delegato <span class=\"_ _22\"></span>(UE) <span class=\"_ _0\"></span>2019/815 <span class=\"_ _22\"></span>(il <span class=\"_ _0\"></span>\u201cRegolamento <span class=\"_ _22\"></span>ESEF\u201d) <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>introdotto <span class=\"_ _22\"></span>l\u2019obbligo <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>emittenti di <span class=\"_ _0\"></span>valori <span class=\"_ _22\"></span>mobiliari <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>otati <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>mercati <span class=\"_ _0\"></span>rego<span class=\"_ _0\"></span>lamentati <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019Unione <span class=\"_ _22\"></span>Europea <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>redigere <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria </span>annuale <span class=\"_ _41\"> </span>nel <span class=\"_ _41\"> </span>linguaggio <span class=\"_ _41\"> </span><span class=\"ff5a\">eXtensible <span class=\"_ _41\"> </span>Hypertext <span class=\"_ _41\"> </span>Mar<span class=\"_ _0\"></span>kup <span class=\"_ _41\"> </span>Language<span class=\"_ _0\"></span></span> <span class=\"_ _41\"> </span><span class=\"ff5d\">(\u201cXHTML\u201d), <span class=\"_ _41\"> </span>sulla <span class=\"_ _41\"> </span>base <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span>formato </span>elettronico <span class=\"_ _0\"></span>unico <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>comunicazione <span class=\"_ _0\"></span>ESEF <span class=\"_ _0\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">European <span class=\"_ _0\"></span>Single <span class=\"_ _0\"></span>Electronic <span class=\"_ _22\"></span>Format</span>\u201d), <span class=\"_ _0\"></span>app<span class=\"_ _0\"></span>rovato <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>ESMA. <span class=\"_ _0\"></span>Ci\u00f2 al <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>rendere <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>relazioni <span class=\"_ _22\"></span>finanziarie <span class=\"_ _22\"></span>annuali <span class=\"_ _22\"></span>leggibili <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>da <span class=\"_ _22\"></span>utenti <span class=\"_ _22\"></span>umani <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>dispositivi <span class=\"_ _0\"></span>auto<span class=\"_ _0\"></span>matici <span class=\"_ _22\"></span>e migliorare la comparabilit\u00e0 e l\u2019analisi delle in<span class=\"_ _0\"></span>formazioni incluse nelle relazioni finanziarie annu<span class=\"_ _0\"></span>ali.<span class=\"ff56\"> </span>Pertanto a <span class=\"_ _2b\"></span>partire dall\u2019esercizio <span class=\"_ _2b\"></span>fin<span class=\"_ _0\"></span>anzi<span class=\"ff56\">ario che <span class=\"_ _2b\"></span>inizia il <span class=\"_ _2b\"></span>1\u00b0 gennaio <span class=\"_ _29\"></span>2021 <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>stato <span class=\"_ _29\"></span>previsto <span class=\"_ _29\"></span>che <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>relazione<span class=\"_ _0\"></span> </span>finanziaria annuale <span class=\"_ _29\"></span>venga <span class=\"_ _29\"></span>redatta e <span class=\"_ _2b\"></span>pubblicata nel formato <span class=\"_ _29\"></span>XHTML utilizzando <span class=\"_ _2b\"></span>il linguaggio <span class=\"ff5a\">Inline Extensible </span>Business Reporting Language<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"ff5d\">(\u201ciXBRL\u201d) solo per la marcatura dei p<span class=\"_ _0\"></span>rospetti cont</span>abili con<span class=\"_ _0\"></span>solidati. </span>Inoltre, <span class=\"_ _2c\"> </span>a <span class=\"_ _28\"> </span>partire <span class=\"_ _2c\"> </span>dall\u2019esercizio <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziario <span class=\"_ _2c\"> </span>che <span class=\"_ _2c\"> </span>inizia <span class=\"_ _28\"> </span>il <span class=\"_ _2c\"> </span>1\u00b0 <span class=\"_ _2c\"> </span>gennaio <span class=\"_ _2c\"> </span>2022, <span class=\"_ _2c\"> </span>gli <span class=\"_ _2c\"> </span>emittenti <span class=\"_ _2d\"> </span><span class=\"ff56\">sono <span class=\"_ _28\"></span>tenuti <span class=\"_ _2c\"></span>a </span>marcare anche le informazioni contenute nella not<span class=\"_ _0\"></span>a integrativa consolidata.<span class=\"_ _0\"></span> Il <span class=\"_ _2d\"> </span>documento <span class=\"_ _2a\"> </span>in <span class=\"_ _2d\"> </span>formato <span class=\"_ _2d\"> </span>PDF <span class=\"_ _2d\"> </span>non <span class=\"_ _2a\"> </span>costituisce <span class=\"_ _2d\"> </span>adempimento <span class=\"_ _2a\"> </span>agli <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2d\"> </span>derivanti <span class=\"_ _2a\"> </span>dalla <span class=\"_ _2d\"> </span>Direttiva Transparency<span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>dal <span class=\"_ _23\"></span>Regolamento <span class=\"_ _23\"></span>ESEF <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>quale <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _23\"></span>elaborato <span class=\"_ _23\"></span>apposito <span class=\"_ _23\"></span>formato <span class=\"_ _23\"></span>XHTML. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>depositi </span>dell\u2019intero documento, presso le sedi e le istitu<span class=\"_ _0\"></span>zioni competenti, sono effettuati ai sensi di leg<span class=\"_ _0\"></span>ge.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _23\"></span>29 <span class=\"_ _23\"></span>ottobr<span class=\"ff5d\">e <span class=\"_ _23\"></span>2021, <span class=\"_ _23\"></span>l\u2019ESMA <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>pubblicato <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>dichiarazione <span class=\"_ _23\"></span>annuale <span class=\"_ _23\"></span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">European <span class=\"_ _23\"></span>common <span class=\"_ _23\"></span>enforcement </span></span>priorities for 2021 annual financial reports<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d in cui ha richiamato l\u2019applicazion<span class=\"_ _0\"></span>e del Regolamento ESEF.<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span>2.3.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span><span class=\"ff61\">Fatti intervenuti dopo la chiusura d<span class=\"_ _0\"></span>ell\u2019esercizio</span></span> In <span class=\"_ _2b\"></span>merito ad <span class=\"_ _2b\"></span>una <span class=\"_ _29\"></span>descrizione <span class=\"_ _2b\"></span>dei fatti <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riliev<span class=\"_ _0\"></span>o <span class=\"_ _2b\"></span>avv<span class=\"_ _0\"></span>enuti <span class=\"_ _2b\"></span>do<span class=\"_ _0\"></span>po <span class=\"_ _2b\"></span>la <span class=\"ff5d\">chiusura <span class=\"_ _2b\"></span>dell\u2019esercizio, s<span class=\"ff56\">i <span class=\"_ _2b\"></span>rimanda <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>quanto </span></span>riportato nella <span class=\"ff5a\">Relazione sull<span class=\"ff5e\">\u2019a<span class=\"_ _0\"></span>ndamento della</span> gestione</span>. 2.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Base di presentazione  Si <span class=\"_ _0\"></span>segnala <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>fini <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>predisposizione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esente Bilancio <span class=\"_ _22\"></span>Con<span class=\"_ _0\"></span>solidato <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>prospetti <span class=\"_ _0\"></span>contabili <span class=\"_ _0\"></span>consolidati<span class=\"_ _0\"></span> sono stati adeguati al fine di: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">rispecchiare <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>\u201ccambio <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>stato\u201d <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>investimento <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>quindi <span class=\"_ _22\"></span>l\u2019assetto <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>holding <span class=\"_ _22\"></span>industriale: <span class=\"_ _0\"></span>le<span class=\"_ _0\"></span> </span></span>principali voci di bilancio tipiche dell\u2019operativit\u00e0 della Capogruppo, \u201cInvestimenti in <span class=\"ff56\">partecipazioni e </span>quote <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>fondi\u201d <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>patrimoniale <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>\u201cProventi <span class=\"_ _22\"></span>netti <span class=\"_ _0\"></span>da <span class=\"_ _22\"></span>gestione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>partecipazioni\u201d <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>conto economico, <span class=\"_ _3c\"> </span>sono <span class=\"_ _3c\"> </span>state <span class=\"_ _41\"> </span>ridenominate <span class=\"_ _3c\"> </span>rispettivamente <span class=\"_ _3c\"> </span>\u201cPartecipazioni\u201d <span class=\"_ _3c\"> </span><span class=\"ff56\">(suddivise <span class=\"_ _3c\"> </span>per <span class=\"_ _3c\"> </span>tipologia: </span>\u201cPartecipazioni in <span class=\"_ _29\"></span>controllate\u201d, <span class=\"_ _2b\"></span>\u201cParte<span class=\"_ _0\"></span>cipazioni a <span class=\"_ _29\"></span>patrimonio netto\u201d, <span class=\"_ _2b\"></span>\u201cPartecipazioni in <span class=\"_ _29\"></span>altre <span class=\"_ _29\"></span>imprese\u201d) e <span class=\"_ _0\"></span>\u201cRisultato <span class=\"_ _22\"></span>partecipazioni\u201d <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>accolgon<span class=\"_ _0\"></span>o, <span class=\"_ _22\"></span>oltre <span class=\"_ _0\"></span>all\u2019effe<span class=\"_ _0\"></span>tto <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>relativo <span class=\"_ _0\"></span>alle <span class=\"_ _22\"></span>variazioni di <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _2c\"></span><span class=\"ff5d\">iscritte <span class=\"_ _28\"></span>nei <span class=\"_ _28\"></span>primi <span class=\"_ _28\"> </span>qu<span class=\"_ _0\"></span>attro <span class=\"_ _28\"></span>mesi <span class=\"_ _28\"></span>dell\u2019esercizio,<span class=\"_ _0\"></span></span> <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>poste <span class=\"_ _28\"></span>relative <span class=\"_ _28\"></span>alle <span class=\"_ _28\"></span>partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _28\"></span>non consolidate integralmente (partecipazioni in con<span class=\"_ _0\"></span>trollate) e al<span class=\"ls9\">le</span> partecipazioni<span class=\"_ _0\"></span> in altre impre<span class=\"ls5\">se<span class=\"lsb\">. </span></span> Con <span class=\"_ _22\"></span>riferimento <span class=\"_ _22\"></span>agli <span class=\"_ _23\"></span>schemi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>economico, <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _22\"></span>operata <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>riclassifi<span class=\"_ _0\"></span>ca <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>voce <span class=\"_ _22\"></span>\u201cRisultato partecipazio<span class=\"ff5d\">ni\u201d <span class=\"_ _0\"></span></span>- che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>concorre <span class=\"_ _0\"></span>alla formazione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>Risultato <span class=\"_ _0\"></span>Operativo <span class=\"_ _0\"></span>di bilancio <span class=\"_ _22\"></span>- <span class=\"_ _0\"></span>nonch\u00e9 <span class=\"_ _0\"></span>della voce <span class=\"_ _28\"></span>\u201cCommissioni <span class=\"_ _28\"></span>su <span class=\"_ _23\"></span>garan<span class=\"_ _0\"></span>zie <span class=\"_ _28\"></span>prestate\u201d <span class=\"_ _23\"></span>pr<span class=\"_ _0\"></span>opria <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>Capogruppo <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>confluita <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>\u201cProventi finanziari\u201d. <span class=\"ff56\"> </span>Il <span class=\"_ _0\"></span>prospetto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rendiconto <span class=\"_ _0\"></span>finanziario <span class=\"_ _0\"></span>consolidato <span class=\"_ _0\"></span>ris<span class=\"_ _0\"></span>pecchia <span class=\"_ _0\"></span>altres\u00ec <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>suddetto<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>approccio <span class=\"_ _0\"></span>e riflette <span class=\"_ _22\"></span>la riclassifica <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>saldi <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>voci <span class=\"_ _29\"></span>afferenti <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>partecipazio<span class=\"_ _0\"></span>ni <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>quelle <span class=\"_ _2b\"></span>relative <span class=\"_ _2b\"></span>ai <span class=\"_ _2b\"></span>fl<span class=\"_ _0\"></span>ussi <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>deb<span class=\"_ _0\"></span>iti/crediti finanziari verso correlate facenti ora parte dei \u201cCash flo<span class=\"_ _0\"></span>w da attivit\u00e0 di investimento\u201d; <span class=\"_ _0\"></span><span class=\"ff56\">  </span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">includere <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>componen<span class=\"_ _0\"></span>ti <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>bilancio <span class=\"_ _2a\"> </span>delle <span class=\"_ _2d\"> </span>contro<span class=\"_ _0\"></span>llate <span class=\"_ _2a\"> </span>consolidate <span class=\"_ _2d\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2a\"> </span>presenti <span class=\"_ _2d\"> </span>nel <span class=\"_\"> </span>bilanci<span class=\"_ _29\"></span>o <span class=\"_ _2a\"> </span>della </span>Capogruppo <span class=\"_\"> </span>e <span class=\"_\"> </span>nei <span class=\"_ _2a\"> </span>precedenti <span class=\"_\"> </span>bilanci <span class=\"_\"> </span>consolidati, <span class=\"_\"> </span>sono <span class=\"_\"> </span>state <span class=\"_ _2a\"> </span>rappresentate <span class=\"_\"> </span>nuove <span class=\"_\"> </span>voci <span class=\"_\"> </span>contabili: \u201cRimanenze\u201d <span class=\"_ _41\"> </span>e <span class=\"_ _3c\"> </span>le <span class=\"_ _41\"> </span>relative <span class=\"_ _41\"> </span>vo<span class=\"_ _0\"></span>ci <span class=\"_ _41\"> </span>di <span class=\"_ _3c\"> </span>conto <span class=\"_ _41\"> </span>economico, <span class=\"_ _41\"> </span>\u201cVariazio<span class=\"_ _0\"></span><span class=\"ff56\">ni <span class=\"_ _3c\"> </span>rimanenze <span class=\"_ _41\"> </span>prodotti <span class=\"_ _3c\"> </span>finiti <span class=\"_ _41\"> </span>e </span>semilavorati\u201d, <span class=\"_ _28\"></span>\u201cCapitalizzazioni <span class=\"_ _28\"> </span>per <span class=\"_ _2c\"> </span>lavori <span class=\"_ _28\"></span>interni\u201d, <span class=\"_ _28\"></span>\u201cAcquisto <span class=\"_ _28\"> </span>e <span class=\"_ _2c\"> </span>variazione <span class=\"_ _28\"></span>materie <span class=\"_ _28\"></span>prime\u201d <span class=\"_ _28\"></span>nonch\u00e9 \u201cRicavi delle vendite e prestazioni di servizi\u201d.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Sono state inoltre <span class=\"_ _29\"></span>valorizzate le voci <span class=\"_ _29\"></span>di bilancio relative <span class=\"_ _29\"></span>alle attivit\u00e0 e <span class=\"_ _29\"></span>passivit\u00e0 in dismissione ai sensi dell\u2019IFRS <span class=\"_ _23\"></span>5 <span class=\"_ _23\"></span>(voci <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>bilancio <span class=\"_ _23\"></span>consolidato <span class=\"_ _23\"></span>\u201cAttivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>correnti <span class=\"_ _23\"></span>detenute <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>vendita\u201d, <span class=\"_ _23\"></span>\u201cPassivit\u00e0 direttamente collegate ad attivit\u00e0 detenute per la vend<span class=\"_ _0\"></span>ita\u201d e \u201cRisultato da attivit\u00e0 operative cessate\u201d).<span class=\"_ _22\"></span><span class=\"ff56\"> </span>2.5.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Principi di consolidamento Il <span class=\"_ _2d\"> </span><span class=\"ls0\">bilancio<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_\"> </span>al<span class=\"_ _29\"></span> <span class=\"_ _2d\"> </span>31 <span class=\"_ _2a\"> </span>dicembre <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2a\"> </span>riflette <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>consolidamento <span class=\"_ _2d\"> </span>della <span class=\"_ _2a\"> </span>Capogruppo <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>delle <span class=\"_ _2a\"> </span>societ\u00e0 </span>direttamente ed indirettamente controllate, controllate con<span class=\"_ _0\"></span>giuntamente o collegate. <span class=\"_ _0\"></span> Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>cui <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>prevista <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span><span class=\"ff5d\">dismissione <span class=\"_ _28\"></span>vengo<span class=\"_ _0\"></span>no <span class=\"_ _28\"></span>riclassificate <span class=\"_ _28\"></span>nelle <span class=\"_ _28\"></span>voci <span class=\"_ _28\"></span>dell\u2019attivo <span class=\"_ _28\"> </span>e <span class=\"_ _28\"> </span>de<span class=\"_ _0\"></span>l </span>passivo <span class=\"_ _0\"></span>destinate <span class=\"_ _0\"></span>ad <span class=\"_ _0\"></span>evidenziare <span class=\"_ _0\"></span>tali <span class=\"_ _0\"></span>fattispecie <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>relativi <span class=\"_ _0\"></span>effetti <span class=\"_ _0\"></span>economici <span class=\"_ _0\"></span>vengono <span class=\"_ _0\"></span>esposti <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>separata <span class=\"_ _0\"></span>voce di conto economico<span class=\"lsb\">. </span> 2.5.1.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Entit\u00e0 controllate </span></span>Le controllate sono tutte le societ\u00e0 sulle <span class=\"_ _0\"></span>quali la Capogruppo ha contemporanea<span class=\"_ _0\"></span>mente: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il <span class=\"_ _0\"></span>potere <span class=\"_ _0\"></span>cio\u00e8 <span class=\"_ _0\"></span>detiene <span class=\"_ _0\"></span>valid<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>diritti <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>conferiscono <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>capacit\u00e0 <span class=\"_ _22\"></span>attuale <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>dirigere <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span><span class=\"ff5a\">at<span class=\"_ _0\"></span>tivit\u00e0 </span></span></span>rilevanti<span class=\"ff56\">, ossia le attivit\u00e0 che incidono <span class=\"_ _0\"></span>in maniera significativa sui rendimenti;<span class=\"_ _0\"></span> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">l\u2019esposizione o i diri<span class=\"ff56\">tti a rendimenti v<span class=\"_ _0\"></span>ariabili derivanti dal rapporto con la stessa;<span class=\"_ _0\"></span> </span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">la capacit\u00e0 di esercitare il proprio potere<span class=\"_ _0\"></span> per incidere sull'ammontare dei suoi ren<span class=\"_ _0\"></span>dimenti. </span></span>Le <span class=\"_ _2c\"></span>attivit\u00e0, <span class=\"_ _2d\"> </span>le <span class=\"_ _28\"></span>passivit\u00e0, <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"></span>oneri <span class=\"_ _2c\"> </span>ed <span class=\"_ _2d\"> </span>i <span class=\"_ _2c\"></span>proventi <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>imprese <span class=\"_ _2c\"></span>controllate <span class=\"_ _2c\"></span>consolidate <span class=\"_ _2d\"> </span>con <span class=\"_ _2c\"></span>il <span class=\"_ _2c\"></span>me<span class=\"_ _0\"></span>todo integrale <span class=\"_ _29\"></span>sono ass<span class=\"_ _29\"></span>unti inte<span class=\"_ _29\"></span>gralmente <span class=\"_ _29\"></span>nel <span class=\"_ _29\"></span>bilancio <span class=\"_ _29\"></span>consolidato; il<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>delle partecipazioni <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>eliminato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>fronte della <span class=\"_ _28\"></span>corrisponden<span class=\"_ _0\"></span>te <span class=\"_ _28\"></span>frazione <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>patrimonio <span class=\"_ _2c\"></span>netto <span class=\"_ _28\"></span>delle <span class=\"_ _2c\"></span>imprese <span class=\"_ _28\"></span>partecipate <span class=\"_ _2c\"></span>attribuendo <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>singoli <span class=\"_ _28\"></span>elementi dell\u2019attivo e <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>passivo patrimoniale <span class=\"_ _29\"></span>il loro <span class=\"_ _2b\"></span>valore corrente alla <span class=\"_ _29\"></span>data d\u2019acquisizione <span class=\"_ _2b\"></span>del controllo. L\u2019eventuale differenza residua, <span class=\"_ _0\"></span>se po<span class=\"_ _0\"></span>sitiva, \u00e8 <span class=\"_ _0\"></span>iscritta nella <span class=\"_ _0\"></span>voce dell\u2019<span class=\"_ _0\"></span>attivo \u201cavviamento\u201d; <span class=\"_ _0\"></span>se negativa, <span class=\"_ _0\"></span>a conto<span class=\"_ _0\"></span> economico. Le <span class=\"_ _28\"></span>quote <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto <span class=\"_ _28\"> </span>e <span class=\"_ _28\"> </span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>competenza<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>minoranze <span class=\"_ _28\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>iscritte <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>apposite <span class=\"_ _28\"></span>voci <span class=\"_ _28\"></span>di </span>bilancio. <span class=\"_\"> </span>Dopo <span class=\"_\"> </span>la<span class=\"_ _29\"></span> <span class=\"_\"> </span>rilevazione <span class=\"_ _2a\"> </span>iniziale, <span class=\"_ _2a\"> </span>l\u2019\u201cavviamento\u201d <span class=\"_\"> </span>\u00e8 <span class=\"_ _2a\"> </span>valutato <span class=\"_ _2a\"> </span>secondo <span class=\"_\"> </span>quanto <span class=\"_ _2a\"> </span>previsto <span class=\"_\"> </span>dallo <span class=\"_\"> </span><span class=\"ff5a\">IAS <span class=\"_ _2a\"> </span>36<span class=\"ff56\"> </span></span>Riduzione di valore delle attivit\u00e0.<span class=\"_ _0\"></span> Dall\u2019area <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _2e\"> </span>restano <span class=\"_ _2f\"> </span>escluse <span class=\"_ _8b\"> </span>le <span class=\"_ _2f\"> </span>controllate <span class=\"_ _2e\"> </span>non <span class=\"_ _2f\"> </span>sig<span class=\"ff56\">nificative <span class=\"_ _2e\"> </span>e <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>il <span class=\"_ _2e\"> </span>cu<span class=\"_ _0\"></span>i </span>consolidamento <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>produce <span class=\"_ _23\"></span>effetti <span class=\"_ _28\"></span>sostanziali. <span class=\"_ _23\"></span>Gli <span class=\"_ _23\"></span>effetti <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>tali <span class=\"_ _23\"></span>esclusioni <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>assumono <span class=\"_ _23\"></span>per\u00f2 <span class=\"_ _23\"></span>rilevanza <span class=\"_ _23\"></span>e quindi <span class=\"_ _2f\"> </span>la <span class=\"_ _2f\"> </span>loro <span class=\"_ _2f\"> </span>omissione <span class=\"_ _2f\"> </span>non <span class=\"_ _2f\"> </span>influenza <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>deci<span class=\"_ _0\"></span>sioni <span class=\"_ _2f\"> </span>economich<span class=\"_ _0\"></span>e <span class=\"_ _2f\"> </span>degli <span class=\"_ _2f\"> </span>utilizzatori <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>questo <span class=\"_ _2f\"> </span>Bilanci<span class=\"_ _0\"></span>o Consolidato<span class=\"lsb\">. </span><span class=\"ff5a\"> </span>Gli <span class=\"_ _29\"></span>utili <span class=\"_ _29\"></span>derivanti <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>operazioni infragruppo <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _29\"></span>ancora <span class=\"_ _2b\"></span>realizzati nei <span class=\"_ _29\"></span>confronti <span class=\"_ _29\"></span>dei <span class=\"_ _29\"></span>terzi, <span class=\"_ _2b\"></span>se significativi, sono <span class=\"_ _28\"></span>eliminati. <span class=\"_ _28\"></span>Sono <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _28\"></span>oggetto <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>eliminazione <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>crediti, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>debiti, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>proventi, <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>oneri, <span class=\"_ _23\"></span>le <span class=\"_ _28\"></span>garanzie, <span class=\"_ _28\"></span>gli impegni <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2c\"></span>rischi <span class=\"_ _2c\"></span>tra <span class=\"_ _2d\"> </span>imprese <span class=\"_ _28\"></span>c<span class=\"_ _0\"></span>onsolidate. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2c\"></span>perdite <span class=\"_ _2c\"></span>infragruppo <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>eliminate <span class=\"_ _2d\"> </span>perch\u00e9 <span class=\"_ _2c\"></span>considerate rappresentative <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>effettivo <span class=\"_ _2b\"></span>minor <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>bene <span class=\"_ _2b\"></span>ceduto. <span class=\"_ _2b\"></span>Tutti <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>bilanci <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>controllate <span class=\"_ _2b\"></span>sono, <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>necessario, rettificati <span class=\"_ _2b\"></span>allo<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>scop<span class=\"_ _0\"></span>o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>ottenere l\u2019uniformit\u00e0 <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>principi <span class=\"_ _2b\"></span>e dei<span class=\"ff56\"> <span class=\"_ _2b\"></span>criter<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>valutazion<span class=\"_ _0\"></span>e <span class=\"_ _2b\"></span>adottati a <span class=\"_ _2b\"></span>livello <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>Gruppo.<span class=\"_ _0\"></span> </span>Nell\u2019ipotesi <span class=\"_ _3c\"> </span>di <span class=\"_ _3c\"> </span>cessione <span class=\"_ _3c\"> </span>o <span class=\"_ _3c\"> </span>conferimento <span class=\"_ _3c\"> </span>di <span class=\"_ _3c\"> </span>una <span class=\"_ _3c\"> </span>societ\u00e0 <span class=\"_ _3c\"> </span>partecipata, <span class=\"_ _49\"> </span>il <span class=\"_ _3c\"> </span>deconsolidamento <span class=\"_ _3c\"> </span>viene contabilizzato dalla data di effettiva perdita del con<span class=\"_ _0\"></span>trollo.  Nel <span class=\"_\"> </span>caso <span class=\"_\"> </span>di <span class=\"_\"> </span>conferimento <span class=\"_\"> </span>di <span class=\"_\"> </span>una <span class=\"_\"> </span>societ\u00e0 <span class=\"_\"> </span>controllata <span class=\"_\"> </span>in <span class=\"_\"> </span>una <span class=\"_\"> </span>societ\u00e0 <span class=\"_\"> </span>controllata <span class=\"_\"> </span>congiuntamente <span class=\"_\"> </span>o collegata, il <span class=\"_ _0\"></span>riconoscimento dell\u2019<span class=\"_ _0\"></span>utile o <span class=\"_ _0\"></span>della perdita <span class=\"_ _0\"></span>derivante dalla<span class=\"_ _0\"></span> perdita <span class=\"_ _0\"></span>del con<span class=\"_ _0\"></span>trollo viene con<span class=\"_ _0\"></span>tabilizzata a conto economico, cos\u00ec come previsto dall\u2019IFRS 10,<span class=\"_ _0\"></span> paragrafo 25. In tal caso:<span class=\"_ _0\"></span><span class=\"ff56\"> </span>a)<span class=\"ff58 ls0\"> <span class=\"_ _97\"> </span><span class=\"ff56\">sono <span class=\"_ _2e\"> </span>eliminate <span class=\"_ _2e\"> </span>con<span class=\"_ _0\"></span>tabilmente <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>attivit\u00e0 <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _2e\"> </span>della <span class=\"_ _2f\"> </span></span></span><span class=\"ff5a\">ex</span><span class=\"ls0\"> <span class=\"_ _2e\"> </span>controllata <span class=\"_ _2e\"> </span>dal <span class=\"_ _2e\"> </span>prosp<span class=\"_ _0\"></span>etto </span>consolidato della situazione patrimoniale<span class=\"_ _0\"></span>-finanziaria;  b)<span class=\"ff58 ls0\"> <span class=\"_ _95\"> </span><span class=\"ff56\">vi<span class=\"_ _0\"></span>ene <span class=\"_ _29\"></span>rilevata <span class=\"_ _29\"></span>qualsiasi <span class=\"_ _29\"></span>partecipazione <span class=\"_ _2b\"></span>m<span class=\"_ _0\"></span>antenuta nella <span class=\"_ _2b\"></span><span class=\"ff5a ls3\">ex<span class=\"ff56 ls0\"> controllata <span class=\"_ _2b\"></span>al rispettivo <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>alla </span></span></span></span></span></span>data <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>perdita <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>controllo <span class=\"_ _28\"></span>e, <span class=\"_ _2c\"> </span>successivamente, <span class=\"_ _2d\"> </span>viene <span class=\"_ _28\"></span>contabilizzata <span class=\"_ _2c\"></span>insieme <span class=\"_ _2c\"> </span>a <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>alsiasi ammontare dovuto dalla o alla <span class=\"ff5a ls3\">ex</span> controllata secondo<span class=\"_ _0\"></span> quanto previsto dai pertinenti IFRS. Tale fair value<span class=\"ff56\"> <span class=\"ff5d\">diventa la base per la successiva co<span class=\"_ _0\"></span>ntabilizzazione dell\u2019investimento;<span class=\"_ _0\"></span></span> </span>c) <span class=\"_ _97\"> </span>veng<span class=\"ff5d\">ono <span class=\"_ _2e\"> </span>rilevati <span class=\"_ _2e\"> </span>l\u2019utile <span class=\"_ _8b\"> </span>o <span class=\"_ _2e\"> </span>la <span class=\"_ _8b\"> </span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _8b\"> </span>correlati <span class=\"_ _2e\"> </span>alla <span class=\"_ _8b\"> </span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _8b\"> </span>del <span class=\"_ _2e\"> </span>controllo <span class=\"_ _2e\"> </span>attribuibile <span class=\"_ _8b\"> </span>all\u2019<span class=\"_ _0\"></span></span><span class=\"ff5a\">ex</span><span class=\"ls0\"> </span>partecipazione di maggioranza; d)<span class=\"ff58 ls0\"> <span class=\"_ _95\"> </span><span class=\"ff5d\">ven<span class=\"_ _0\"></span>gono <span class=\"_ _29\"></span>riclassificati <span class=\"_ _2b\"></span>n<span class=\"_ _0\"></span>el <span class=\"_ _29\"></span>prospetto <span class=\"_ _29\"></span>dell\u2019utile <span class=\"_ _2b\"></span>(p<span class=\"_ _0\"></span>erdita) <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">esercizio <span class=\"_ _29\"></span>o <span class=\"_ _29\"></span>trasferiti <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>negl<span class=\"_ _0\"></span>i </span></span></span>utili <span class=\"_ _0\"></span>portati <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>nuovo, <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>previsti <span class=\"_ _22\"></span>da <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>IFRS, <span class=\"_ _0\"></span>gli <span class=\"_ _22\"></span>ammontari <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>altre <span class=\"_ _22\"></span>componenti <span class=\"_ _0\"></span>di conto economico complessivo relativo alla ex contro<span class=\"_ _0\"></span>llata. Qualora <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>Capogruppo <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>qualifichi <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>\u201centit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>investimento\u201d <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>investimenti <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>controllate <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>n strumentali sono valutati al <span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir value</span> gli investimenti anche nel bilancio consolidato.<span class=\"_ _0\"></span>  In <span class=\"_ _23\"></span>caso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>perdita <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>qualifica <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>\u201centit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>investimento\u201d <span class=\"_ _23\"></span><span class=\"ff56\">i <span class=\"_ _23\"></span>bilanci <span class=\"_ _23\"></span>vengono <span class=\"_ _22\"></span>redatti <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>delle </span>previsioni <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>paragrafi <span class=\"_ _0\"></span>19<span class=\"_ _0\"></span>-<span class=\"ff5d\">24 <span class=\"_ _0\"></span>dell\u2019<span class=\"_ _0\"></span>IFRS, <span class=\"_ _0\"></span>ossia <span class=\"_ _0\"></span>proced<span class=\"_ _0\"></span>endo <span class=\"_ _0\"></span></span>al <span class=\"_ _22\"></span>consolidamento <span class=\"_ _0\"></span>integ<span class=\"_ _0\"></span>rale, <span class=\"_ _0\"></span>linea <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>lin<span class=\"_ _0\"></span>ea, <span class=\"_ _0\"></span>delle partecipazioni in societ\u00e0 controllate.<span class=\"_ _0\"></span> In sede di prima applicazion<span class=\"_ _0\"></span>e di tali disposizioni<span class=\"_ _0\"></span>, per <span class=\"_ _0\"></span>poter procedere al consolidamento <span class=\"_ _0\"></span>integrale delle partecipazioni <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2d\"> </span>controllate <span class=\"_ _2c\"></span>precedentemente <span class=\"_ _2d\"> </span>valutate <span class=\"_ _2c\"></span>a <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>, <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>applicano, <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>conformit\u00e0 <span class=\"_ _2d\"> </span>al paragrafo B100 dell\u2019IFRS 10, le previsioni contenute nell\u2019IFRS 3 \u2013<span class=\"ff56\"> Aggregazioni aziendali, ai sensi del quale </span>ogni <span class=\"_ _41\"> </span>aggregazione <span class=\"_ _3c\"> </span>aziendale <span class=\"_ _41\"> </span>deve <span class=\"_ _41\"> </span>essere <span class=\"_ _3c\"> </span>contabilizzata <span class=\"_ _41\"> </span>applicando <span class=\"_ _3c\"> </span>il <span class=\"_ _41\"> </span>metodo <span class=\"_ _41\"> </span>dell\u2019acqui<span class=\"_ _0\"></span>sizione, <span class=\"_ _41\"> </span>ossia procedendo, <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>altre <span class=\"_ _28\"></span>co<span class=\"_ _0\"></span>se, <span class=\"_ _28\"></span>(i) <span class=\"_ _28\"></span>alla <span class=\"_ _2c\"></span>determinazione <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>acquisizione, <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>(ii) <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>rilevazione <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>la valutazione dell\u2019avviamento o di un utile derivante da un<span class=\"_ _0\"></span> acquisto a prezzi favorevoli.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Nel <span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>aso <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>erdita <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>qualifica <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>en<span class=\"_ _0\"></span>tit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span>vestimento, <span class=\"_ _22\"></span>l\u2019applicazio<span class=\"_ _0\"></span>ne <span class=\"_ _22\"></span>dell\u2019IFRS <span class=\"_ _22\"></span>3 <span class=\"_ _22\"></span>prevede <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>la data <span class=\"_ _29\"></span>del <span class=\"_ _2b\"></span>cambio di <span class=\"_ _2b\"></span>stato (i.e. <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>data <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>cui la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _29\"></span>perde <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>qualifica di <span class=\"_ _2b\"></span>entit\u00e0 di <span class=\"_ _2b\"></span>investimento) <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>considerat<span class=\"_ _0\"></span>a come <span class=\"_ _2d\"> </span>data <span class=\"_ _2d\"> </span>di <span class=\"_ _2a\"> </span>acquisizione <span class=\"_ _2d\"> </span>presunta <span class=\"_ _2d\"> </span>della <span class=\"_ _2a\"> </span>partecipazione <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>il<span class=\"_ _0\"></span> <span class=\"ff5a\">fair <span class=\"_ _2a\"> </span>value <span class=\"_ _2d\"> </span></span>della <span class=\"_ _2d\"> </span>controllata <span class=\"_ _2d\"> </span>alla <span class=\"_ _2a\"> </span>data <span class=\"_ _2d\"> </span>di acquisizione presunta rappresenti il corrispettivo presunto trasferito ai fini <span class=\"_ _29\"></span>della identificazione delle attivit\u00e0 e passivit\u00e0 <span class=\"_ _2c\"> </span>sui <span class=\"_ _2d\"> </span>cui <span class=\"_ _2c\"> </span>allocare <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>\u201cprezzo\u201d <span class=\"_ _2c\"> </span>dell\u2019acquisizione <span class=\"_ _2d\"> </span>con <span class=\"_ _2c\"> </span>la <span class=\"_ _2c\"> </span>determinazione <span class=\"_ _2d\"> </span>dell\u2018avviamento <span class=\"_ _2d\"> </span>o <span class=\"_ _28\"></span>dell\u2019utile risultante da un acquisto a co<span class=\"ff5d\">nd<span class=\"_ _0\"></span>izioni favorevoli a seguito dell\u2019acquisizione presunta. <span class=\"_ _0\"></span></span> Area di consolidamento Al 31 <span class=\"_ _2b\"></span>dicembre 2021 e <span class=\"_ _2b\"></span>nel corso <span class=\"_ _29\"></span>dell\u2019esercizio 2021 <span class=\"_ _2b\"></span>non vi <span class=\"_ _29\"></span>erano so<span class=\"_ _29\"></span>ciet\u00e0 <span class=\"_ _29\"></span>controllate strumentali <span class=\"_ _29\"></span>incluse nel perimetro <span class=\"_ _29\"></span>di consolidamento <span class=\"_ _29\"></span>della Societ\u00e0, <span class=\"_ _29\"></span>in qua<span class=\"_ _29\"></span>nto in <span class=\"_ _29\"></span>data 31 <span class=\"_ _2b\"></span>m<span class=\"_ _0\"></span>arzo 2021 si <span class=\"_ _2b\"></span>era conclusa la liquidazione della <span class=\"_ _23\"></span>controllata <span class=\"_ _23\"></span>I2 <span class=\"_ _23\"></span>Capital<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>Partners <span class=\"_ _23\"></span>SGR <span class=\"_ _28\"></span>S.p.A., <span class=\"_ _23\"></span>consolidata <span class=\"_ _23\"></span>integralmente <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>bilancio <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre 2020. <span class=\"_ _0\"></span>Stante <span class=\"_ _0\"></span>l\u2019irri<span class=\"_ _0\"></span>levanza <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>flu<span class=\"_ _0\"></span>ssi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>controllata, <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>deconsolidamento <span class=\"_ _0\"></span>era <span class=\"_ _22\"></span>avve<span class=\"_ _0\"></span><span class=\"ff56\">nuto </span>alla <span class=\"_\"> </span>data <span class=\"_ _8b\"> </span>del <span class=\"_ _8b\"> </span>primo <span class=\"_ _8b\"> </span>gennaio <span class=\"_ _8b\"> </span>2021. <span class=\"_ _2e\"> </span>Al <span class=\"_\"> </span>31 <span class=\"_\"> </span>dicembre <span class=\"_ _8b\"> </span>2021<span class=\"_ _0\"></span>, <span class=\"_\"> </span>l\u2019area <span class=\"_\"> </span>di <span class=\"_ _2e\"> </span>consolidamento <span class=\"_\"> </span>includeva <span class=\"_ _2f\"> </span><span class=\"ff56\">pertanto </span>esclusivamente la Capogruppo.<span class=\"_ _0\"></span> La <span class=\"_ _8b\"> </span>Nuova <span class=\"_ _2e\"> </span>Strategia <span class=\"_ _2e\"> </span>ha <span class=\"_ _2e\"> </span>comportato <span class=\"_ _2e\"> </span>la <span class=\"_ _8b\"> </span>disapplicazi<span class=\"_ _0\"></span>one, <span class=\"_ _8b\"> </span>nella <span class=\"_ _2e\"> </span>redazione <span class=\"_ _2e\"> </span>dei <span class=\"_ _2e\"> </span>bilanci <span class=\"_ _2e\"> </span>della <span class=\"_ _8b\"> </span>Societ\u00e0,<span class=\"_ _0\"></span> dell\u2019IFRS <span class=\"_ _28\"></span>10 <span class=\"_ _2c\"> </span>relativo <span class=\"_ _2c\"> </span>alle <span class=\"_ _2c\"> </span><span class=\"ff5a\">investment <span class=\"_ _28\"></span>ent<span class=\"_ _0\"></span>ities<span class=\"ff56\"> <span class=\"_ _28\"></span></span></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>consegu<span class=\"_ _0\"></span>ente <span class=\"_ _28\"></span>espansione <span class=\"_ _2c\"> </span>dell\u2019area <span class=\"_ _28\"></span>di <span class=\"_ _2c\"> </span>consolidamento <span class=\"_ _2c\"> </span>del Gruppo, che <span class=\"_ _0\"></span>ricomprende anche <span class=\"_ _0\"></span>gli investimenti di<span class=\"_ _0\"></span> cont<span class=\"_ _0\"></span>rollo non <span class=\"_ _0\"></span>strumentali, tra cui, <span class=\"_ _0\"></span>in particolare, <span class=\"_ _0\"></span>KME SE<span class=\"_ _0\"></span> e <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>altre <span class=\"_ _2c\"></span>partecipazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>controllo <span class=\"_ _2d\"> </span>eventualmente <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"> </span>date <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>riferimento <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>quali <span class=\"_ _2c\"></span>non <span class=\"_ _2d\"> </span>sia applicabile un\u2019eccezione al consolidamento<span class=\"_ _0\"></span><span class=\"ff56\"> linea per linea</span>, quale quella prevista <span class=\"_ _0\"></span>dall\u2019IFRS 5<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span>Nello <span class=\"_ _2d\"> </span>specifico, <span class=\"_ _2d\"> </span>ai <span class=\"_ _2c\"></span>fini <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>predisposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _2d\"> </span>2022, <span class=\"_ _2d\"> </span>ci\u00f2 <span class=\"_ _2d\"> </span>ha comportato <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019effettuazione <span class=\"_ _23\"></span>del</span> <span class=\"_ _22\"></span><span class=\"ff5d\">consolidamento <span class=\"_ _22\"></span>linea <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>linea, <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>decorrere <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>\u201ccambio <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>stato\u201d <span class=\"_ _22\"></span>di </span>entit\u00e0 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>investimento <span class=\"_ _22\"></span>(22 <span class=\"_ _22\"></span>aprile <span class=\"_ _22\"></span>2022). <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>30<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>aprile <span class=\"_ _0\"></span>2022, <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _0\"></span>prossima <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quella <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>\u201ccambio <span class=\"_ _0\"></span>di stato\u201d \u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _29\"></span>quindi identificata <span class=\"_ _29\"></span>come <span class=\"_ _29\"></span>data di <span class=\"_ _29\"></span>primo co<span class=\"_ _29\"></span>nsolidame<span class=\"ff56\">nto delle partecipate <span class=\"_ _29\"></span>di seguito <span class=\"_ _29\"></span>rappresentate, </span>cui <span class=\"_ _23\"></span>l\u2019informat<span class=\"_ _0\"></span>iva <span class=\"_ _23\"></span>riportata <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>Bilancio <span class=\"_ _23\"></span>fa <span class=\"_ _28\"></span>riferimento <span class=\"_ _23\"></span>laddov<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>riportato <span class=\"_ _28\"></span>\u201cVariazione <span class=\"_ _28\"></span>area <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>consolidamento<span class=\"_ _22\"></span><span class=\"ff56\"> </span>IFRS <span class=\"_ _22\"></span>10<span class=\"ff5d\">\u201d; <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>front<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>primo <span class=\"_ _22\"></span>consolidamento, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>applicazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>3 <span class=\"_ _22\"></span>\u201cAggrega<span class=\"_ _0\"></span></span>zioni aziendali\u201d <span class=\"_ _2b\"></span>si <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>proceduto <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>svolgere <span class=\"_ _29\"></span>l\u2019allocazione <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ezzo <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>acquisto <span class=\"_ _2b\"></span>(\u201cPurchase <span class=\"_ _29\"></span>Price <span class=\"_ _2b\"></span>Allocation\u201d <span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>\u201cPPA\u201d, le <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>risultanze <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>sintetizzate <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>paragrafo <span class=\"_ _22\"></span>4.<span class=\"_ _0\"></span>3 <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>rapprentate <span class=\"_ _22\"></span>ne<span class=\"_ _0\"></span>lle <span class=\"_ _22\"></span>note <span class=\"_ _23\"></span>esplicative <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>singole <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ci <span class=\"_ _22\"></span>di bilancio come \u201cVariazioni<span class=\"ff56\"> </span>PPA\u201d) <span class=\"ff56\"> </span>Di seguito si fornisce l\u2019elenco delle societ\u00e0 con<span class=\"_ _0\"></span>solidate con il metodo integrale al <span class=\"_ _0\"></span><span class=\"ff56\">31 d<span class=\"_ _0\"></span>icembre 2022: </span>Denominazione  Sede Valuta % di possesso diretta indiretta KME Group SpA (gi\u00e0 Intek Group SpA) Italia Euro Capogruppo KME SE Germania Euro 10,00% 89% KMH SpA (gi\u00e0 KME Group Srl) Italia Euro 100,00% CULTI Milano SpA Italia Euro 77,17% Bakel Inc Stati Uniti USD<span class=\"ls0\"> </span>38,59% Bakel Srl Italia Euro 38,59% Bertram's GmbH Germania Euro 99,00% CULTI Milano Asia Ltd Hong Kong HKD<span class=\"ls0\"> </span>46,30% CULTI Milano China Ltd Cina RMB 46,30% Immobiliare Pictea S.r.l. Italia Euro 99,00% KME AssetCo GmbH Germania Euro 99,00% KME Germany GmbH Germania Euro 99,00% KME Grundst\u00fccksgesellschaft SE &amp; Co. KG Germania Euro 99,00% KME Italy S.p.A. Italia Euro 83,16% KME Mansfeld GmbH Germania Euro 99,00% KME Netherlands B.V.* Paesi Bassi Euro 99,00% KME Real Estate GmbH &amp; Co. <span class=\"ls62\">KG</span> Germania Euro 99,00% KME Recycle S.r.l. (in liquidation) Italia Euro 99,00% KME Rolled France S.A.S. Francia Euro 99,00% KME S.r.l. Italia Euro 99,00% KME Service Centre Italy S.p.A.* Italia Euro 99,00% KME Service Centre Slovakia s.r.o.<span class=\"ls1\">.*</span> Slovacchia Euro 99,00% KME Service Centre UK Ltd* Gran Bretagna GBP 99,00% KME Spain S.A.U. Spagna Euro 99,00% KME Special Holding GmbH Germania Euro 99,00% KME Special Products GmbH &amp; Co. <span class=\"ls62\">KG</span> Germania Euro 99,00% KME Yorkshire Ltd. Gran Bretagna GBP 99,00% KMETAL S.p.A. Italia Euro 99,00% Natural Capital Italia SpA Societ\u00e0 Benefit  Italia Euro 73,85% Scent Company Srl Italia Euro 39,36% Valika S.A.S. Francia Euro 50,49% * <span class=\"_ _23\"></span><span class=\"fs5 ls0\">Le <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Nethrlands <span class=\"_ _22\"></span>B.V.,<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>Service <span class=\"_ _22\"></span>Centre <span class=\"_ _23\"></span>Italy <span class=\"_ _22\"></span>SpA, <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>Service <span class=\"_ _23\"></span>Centre <span class=\"_ _22\"></span>UK <span class=\"_ _23\"></span>Ltd <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Service <span class=\"_ _23\"></span>Centre </span>Slovakia s.r.o. sono en<span class=\"_ _29\"></span>trate nell\u2019area di <span class=\"_ _29\"></span>consolidamento per <span class=\"_ _29\"></span>effetto dell\u2019esecuzione, in<span class=\"_ _29\"></span> data 29 lug<span class=\"_ _29\"></span>lio 2022, dell\u2019accordo <span class=\"_ _29\"></span>so<span class=\"ff56\">ttoscritto da </span>KME SE per l\u2019acquisto di parte del business prodotti laminati piani di Aurubis AG (\u201cAurubis\u201d).<span class=\"ff56 fs2\"> </span>Al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2022, <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>considerazion<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>prog<span class=\"_ _0\"></span>ramma <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>acquisto <span class=\"_ _23\"></span>azioni <span class=\"_ _23\"></span>proprie <span class=\"_ _23\"></span>posto <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>essere <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span> CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>SpA <span class=\"_ _22\"></span><span class=\"ff5d ls7\">(\u201c</span>CULTI<span class=\"ff5d ls3\">\u201d)<span class=\"_ _0\"></span></span>, <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>valle <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>arriv<span class=\"_ _0\"></span>ata <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>detenere <span class=\"_ _22\"></span>n. <span class=\"_ _22\"></span>369.750 <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>prop<span class=\"_ _0\"></span>rie, <span class=\"_ _22\"></span>l<span class=\"ls6\">a </span>percentuale in <span class=\"_ _2b\"></span>partecipazione in CULTI <span class=\"_ _2b\"></span>sale all<span class=\"ff5d\">\u201987,64%</span><span class=\"lsb\">, </span>calcolata <span class=\"_ _2b\"></span>sulle azioni <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>circolazione <span class=\"_ _29\"></span>e qui<span class=\"_ _29\"></span>ndi al <span class=\"_ _2b\"></span>netto delle <span class=\"_ _23\"></span>azioni <span class=\"_ _23\"></span>proprie <span class=\"_ _28\"></span>detenute <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>CULTI <span class=\"_ _23\"></span>stessa; <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>conseguenza <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quella <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>Bakel <span class=\"_ _23\"></span>Srl <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>Bakel <span class=\"_ _23\"></span>In<span class=\"_ _0\"></span>c <span class=\"_ _23\"></span>al 43,83%, quella in CULTI Asia Ltd e C<span class=\"_ _0\"></span>ULTI China Ltd al 52,58% e quella in <span class=\"_ _0\"></span>Scent Company Sr<span class=\"_ _0\"></span>l al 44,<span class=\"lsf\">69<span class=\"ls35\">%.</span></span> I valori contabil<span class=\"ls9\">i </span>relativi alle poste 2022 <span class=\"_ _29\"></span>del presente bilancio consolidato includono quindi i saldi delle<span class=\"_ _29\"></span> suddette societ\u00e0 e nello<span class=\"_ _0\"></span> specifico il saldo <span class=\"_ _0\"></span>di stato patrimoniale al 3<span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>dicembre 2022 di <span class=\"_ _0\"></span>tutte le societ\u00e0 e, <span class=\"_ _0\"></span>per le entit\u00e0 <span class=\"_ _28\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _2c\"></span>diverse <span class=\"_ _28\"></span>dalla <span class=\"_ _2c\"></span>Capogruppo <span class=\"_ _2c\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _2c\"></span><span class=\"ff5d\">che <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"> </span>confluite <span class=\"_ _28\"></span>nell\u2019area <span class=\"_ _2c\"> </span>di <span class=\"_ _28\"> </span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _28\"></span>del <span class=\"_ _2c\"> </span>Gruppo <span class=\"_ _28\"> </span>nel <span class=\"_ _2c\"> </span>corso </span>dell\u2019anno<span class=\"ff56\"> <span class=\"_ _2c\"> </span>in <span class=\"_ _2c\"></span>esame, <span class=\"_ _2d\"> </span>esclusivamente <span class=\"_ _28\"></span>i <span class=\"_ _2c\"> </span>f<span class=\"_ _0\"></span>lussi <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"></span>economico <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>successivi <span class=\"_ _2d\"> </span>alla <span class=\"_ _28\"></span>data <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>primo<span class=\"_ _0\"></span> </span>consolidamento.  In <span class=\"_ _22\"></span>termini <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>significativit\u00e0, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>principale <span class=\"_ _22\"></span>partecipazione <span class=\"_ _22\"></span>controllata <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>sede <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>G<span class=\"_ _0\"></span>ermania, capogruppo <span class=\"_ _97\"> </span>del <span class=\"_ _97\"> </span>gruppo <span class=\"_ _97\"> </span>KME, <span class=\"_ _97\"> </span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _97\"> </span>industriale <span class=\"_ _97\"> </span>europeo<span class=\"_ _0\"></span> <span class=\"_ _97\"> </span><span class=\"ff5a\">leader</span> <span class=\"_ _97\"> </span>mondiale <span class=\"_ _97\"> </span>nella <span class=\"_ _97\"> </span>prod<span class=\"_ _0\"></span>uzione <span class=\"_ _97\"> </span>e commercializzazione di prodotti in rame e leghe di <span class=\"_ _29\"></span>rame. Il gruppo KME \u00e8 <span class=\"_ _29\"></span>composto da diversi siti produttivi in Germania, Italia, <span class=\"_ _29\"></span>Francia, Spagna, Stati Uniti <span class=\"_ _29\"></span>e Cina <span class=\"_ _29\"></span>ed \u00e8 inoltre <span class=\"_ _29\"></span>rappresentato in <span class=\"_ _29\"></span>tutto il mondo da una fitta rete <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>agenti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>cen<span class=\"_ _0\"></span>tri <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>assistenza <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>soddisfare <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>esige<span class=\"_ _0\"></span>nze <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>client<span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali settori industriali. Alcune <span class=\"_ _2d\"> </span>societ\u00e0 <span class=\"_ _2a\"> </span>controllate <span class=\"_ _2d\"> </span>non <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2d\"> </span>incluse <span class=\"_ _2a\"> </span>nell\u2019area <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>quanto <span class=\"_ _2d\"> </span>l\u2019effetto <span class=\"_ _2a\"> </span>in 1Bilancio <span class=\"_ _2a\"> </span>no<span class=\"ff5d\">n <span class=\"_\"> </span>sarebbe <span class=\"_ _2d\"> </span>sign<span class=\"_ _0\"></span>ificativo <span class=\"_\"> </span>per<span class=\"_ _29\"></span> <span class=\"_ _2a\"> </span>l\u2019informativa <span class=\"_ _2a\"> </span>finanziaria</span>; <span class=\"_ _2a\"> </span>in <span class=\"_ _2a\"> </span>particolare, <span class=\"_ _2a\"> </span>la <span class=\"_ _2a\"> </span>pi\u00f9 <span class=\"_ _2a\"> </span>rilevante <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2a\"> </span>Intek Investimenti <span class=\"_ _22\"></span>SpA <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>attivo, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circa <span class=\"_ _22\"></span>lo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>0,4<span class=\"ff5d\">% <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>\u201cTotale <span class=\"_ _23\"></span>Attivit\u00e0\u201d <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>Bilancio <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span></span>31<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22, <span class=\"_ _22\"></span>\u00e8 rappresentato <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>lo <span class=\"_ _2c\"></span>pi\u00f9 <span class=\"_ _28\"></span>da <span class=\"_ _2c\"></span>partecipazioni <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _28\"></span>d<span class=\"_ _0\"></span>i <span class=\"_ _28\"></span>controllo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>sarebbero <span class=\"_ _2c\"></span>confluite <span class=\"_ _2c\"></span>- <span class=\"_ _28\"></span>anche <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>presenza <span class=\"_ _28\"></span>di consolidamento <span class=\"_ _2f\"> </span>in<span class=\"_ _0\"></span>tegrale <span class=\"_ _41\"> </span>- <span class=\"_ _2f\"> </span><span class=\"ff5d\">nella <span class=\"_ _41\"> </span>voce <span class=\"_ _41\"> </span>\u201cPartecipazioni\u201d <span class=\"_ _41\"> </span>e <span class=\"_ _2f\"> </span>il <span class=\"_ _41\"> </span>cui <span class=\"_ _41\"> </span>bilancio <span class=\"_ _41\"> </span>non <span class=\"_ _2f\"> </span>presenta <span class=\"_ _41\"> </span>ulteriori <span class=\"_ _41\"> </span>poste </span>significative. La societ\u00e0 <span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>mericana <span class=\"_ _0\"></span>Bakel <span class=\"_ _0\"></span>Inc., <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>appartenente <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>CULTI <span class=\"_ _0\"></span>deputata <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>distribuzione <span class=\"_ _0\"></span>nel mercato americano <span class=\"_ _2b\"></span>del prodotto Bakel <span class=\"_ _2b\"></span>3D\u00ae, ha <span class=\"_ _29\"></span>avviato <span class=\"_ _29\"></span>la <span class=\"_ _29\"></span>propria <span class=\"_ _29\"></span>operativit\u00e0 a <span class=\"_ _2b\"></span>maggio 2022 <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>quindi, <span class=\"_ _29\"></span>essendo an<span class=\"ls0\">cora <span class=\"_ _2c\"></span>in <span class=\"_ _2d\"> </span>fase <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>start-<span class=\"ls1\">up</span> <span class=\"_ _28\"></span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _2d\"> </span>2022, <span class=\"_ _28\"></span>pr<span class=\"_ _0\"></span>esenta <span class=\"_ _2c\"></span>valori <span class=\"_ _2c\"> </span>e<span class=\"_ _0\"></span>conomici <span class=\"_ _2c\"></span>non <span class=\"_ _2d\"> </span>significativi; <span class=\"_ _28\"></span>nel <span class=\"_ _2d\"> </span>trascorso </span>esercizio, <span class=\"_\"> </span>infatti, <span class=\"_ _2a\"> </span>sono <span class=\"_ _2a\"> </span>stati <span class=\"_\"> </span>sostenuti <span class=\"_ _2a\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2a\"> </span>preliminari <span class=\"_ _2a\"> </span>alle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_ _2a\"> </span>di <span class=\"_ _2a\"> </span>vendita <span class=\"_ _2a\"> </span>dell\u2019innovativo prodotto, i cui sviluppi commerciali sono attesi nella seconda p<span class=\"_ _0\"></span>arte del 2023.<span class=\"_ _0\"></span> Si <span class=\"_ _22\"></span>segnala <span class=\"_ _0\"></span>ch<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>dell\u2019articolo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>264b <span class=\"_ _22\"></span>HGB <span class=\"_ _0\"></span>(German <span class=\"_ _22\"></span>Commercial <span class=\"_ _22\"></span>Code) <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>controllate <span class=\"_ _22\"></span>indirette KME <span class=\"_ _8b\"> </span>Special <span class=\"_ _2e\"> </span>Produ<span class=\"_ _0\"></span>cts <span class=\"_ _8b\"> </span>GmbH <span class=\"_ _2e\"> </span>&amp; <span class=\"_ _2e\"> </span>Co. <span class=\"_ _2e\"> </span>KG, <span class=\"_ _2e\"> </span>Osnab<span class=\"_ _0\"></span>r\u00fcck, <span class=\"_ _8b\"> </span>KME <span class=\"_ _2e\"> </span>Grundst\u00fc<span class=\"_ _0\"></span>cksgesellschaft <span class=\"_ _8b\"> </span>S<span class=\"_ _0\"></span>E <span class=\"_ _8b\"> </span>&amp; <span class=\"_ _2e\"> </span>Co. <span class=\"_ _2e\"> </span>KG, Osnabr\u00fcck <span class=\"_ _2c\"></span>e <span class=\"_ _2d\"> </span>KME <span class=\"_ _28\"></span>Real <span class=\"_ _2d\"> </span>Estate <span class=\"_ _28\"></span>GmbH <span class=\"_ _2d\"> </span>&amp; <span class=\"_ _28\"></span>Co. <span class=\"_ _2d\"> </span>KG, <span class=\"_ _2c\"></span>Osnabr\u00fcck, <span class=\"_ _2d\"> </span>KME <span class=\"_ _2c\"></span>Germany <span class=\"_ _2c\"></span>Gm<span class=\"_ _0\"></span>bH, <span class=\"_ _2c\"></span>Osnabr\u00fcck, <span class=\"_ _2d\"> </span>KME Mansfeld GmbH, Hettstedt non rendono pubblici i propri bilanci.<span class=\"_ _0\"></span> Le previsioni di legge tedesche (\u00a7 264b No. 3 HGB and \u00a7 264 <span class=\"_ _0\"></span>(3) No. 3 HGB), <span class=\"_ _0\"></span>richiedono in tali <span class=\"_ _0\"></span>casi l\u2019indicazione che la controllata <span class=\"_ _0\"></span>diretta KME SE e le<span class=\"_ _0\"></span> sue <span class=\"_ _29\"></span>controllate <span class=\"_ _2b\"></span>KME Special <span class=\"_ _2b\"></span>Products GmbH <span class=\"_ _2b\"></span>&amp; <span class=\"_ _29\"></span>Co. <span class=\"_ _29\"></span>KG, <span class=\"_ _2b\"></span>KME Grundst\u00fccksgesellschaft <span class=\"_ _2b\"></span>SE &amp; <span class=\"_ _2b\"></span>Co. KG <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>KME Real <span class=\"_ _23\"></span>Estate <span class=\"_ _23\"></span>GmbH <span class=\"_ _23\"></span>&amp; <span class=\"_ _23\"></span>Co. <span class=\"_ _23\"></span>KG, <span class=\"_ _23\"></span>KME <span class=\"_ _28\"></span>Germany <span class=\"_ _23\"></span>GmbH, <span class=\"_ _23\"></span>Osnabr\u00fcck, <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Ma<span class=\"_ _0\"></span>nsfeld <span class=\"_ _23\"></span>GmbH, <span class=\"_ _23\"></span>Hettstedt <span class=\"_ _23\"></span>siano incluse nel bilancio consolidato di KME Group <span class=\"_ _0\"></span>S.p.A.. Di <span class=\"_ _22\"></span>seguito <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _22\"></span>controllate <span class=\"_ _23\"></span>incluse <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>perimetro <span class=\"_ _23\"></span>IFRS <span class=\"_ _22\"></span>5 <span class=\"_ _22\"></span>(attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>dismissione) <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ls1\">31 </span>dicembre <span class=\"ls1\">2022:</span> Denominazione  Sede Valuta % di possesso diretta indiretta Serravalle Copper Tubes Italy Srl Italia Euro 99,00% Trefimetaux SAS Francia Euro 99,00% 2.5.2.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Entit\u00e0 collegate </span></span>Le <span class=\"_ _2b\"></span>collegate <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>tutte <span class=\"_ _29\"></span>le <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>sulle <span class=\"_ _2b\"></span>quali <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _2b\"></span>esercita <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span>\u2019influenza <span class=\"_ _2b\"></span>notevole <span class=\"_ _2b\"></span>ma <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>controllo. L\u2019influenza <span class=\"_ _2c\"> </span>notevole <span class=\"_ _2c\"> </span>\u00e8 <span class=\"_ _2c\"> </span>presunta <span class=\"_ _2c\"> </span>quando <span class=\"_ _28\"> </span>la <span class=\"_ _2c\"> </span>Societ\u00e0 <span class=\"_ _2c\"> </span>possiede, <span class=\"_ _2c\"> </span>direttamente <span class=\"_ _2c\"> </span>o <span class=\"_ _2c\"> </span>indirettamente <span class=\"_ _2c\"> </span>tramite <span class=\"_ _2c\"> </span>societ<span class=\"_ _0\"></span>\u00e0 controllate, il <span class=\"_ _2b\"></span>20% o <span class=\"_ _2b\"></span>u<span class=\"_ _0\"></span><span class=\"ff5d\">na quota <span class=\"_ _2b\"></span>maggiore dei <span class=\"_ _29\"></span>voti <span class=\"_ _29\"></span>nell\u2019assemblea <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>partecipata. Le <span class=\"_ _2b\"></span>partecipazioni in <span class=\"_ _29\"></span>societ\u00e0 </span>collegate <span class=\"_ _2a\"> </span>sono <span class=\"_\"> </span>consolidate <span class=\"_ _2d\"> </span>con <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>metodo <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>patrimon<span class=\"_ _0\"></span>io <span class=\"_\"> </span>netto. <span class=\"_ _2d\"> </span>Con <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>metodo <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto, <span class=\"_ _2d\"> </span>la partecipazione \u00e8 inizialmente rilevata al costo successivamente <span class=\"_ _0\"></span>rettificato per registrare la quota spettante alla controllante <span class=\"_ _23\"></span>negli <span class=\"_ _23\"></span>utili <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>maturati <span class=\"_ _23\"></span>successivamente <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisizio<span class=\"_ _0\"></span>ne<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>e/o <span class=\"_ _28\"></span>eventuali <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di valore. I dividendi ricevuti riducono il valore con<span class=\"_ _0\"></span>tabile della partecipazione. <span class=\"_ _0\"></span> Denominazion<span class=\"ls1d\">e </span> Sede Valuta % di possesso diretta indiretta Azienda Metalli Laminati S.p.A. Italia Euro 23,96% Dynamo Academy S.r.l. Impresa Sociale Italia Euro 24,75% 1 <span class=\"_\"> </span><span class=\"ff5a\">I <span class=\"_ _8b\"> </span>principi <span class=\"_\"> </span>contabili <span class=\"_\"> </span>non <span class=\"_\"> </span>stabiliscono <span class=\"_\"> </span>alcun <span class=\"_ _8b\"> </span>limite <span class=\"_\"> </span>quantitativo <span class=\"_\"> </span>inferiore <span class=\"_\"> </span>per <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span><span class=\"lsf\">non</span> <span class=\"_\"> </span>consolidamento; <span class=\"_\"> </span>tuttavia, <span class=\"_\"> </span>i<span class=\"_ _0\"></span>l </span>\u201cConceptual <span class=\"_ _29\"></span>Framework\u201d<span class=\"ff5a\"> <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>elinea <span class=\"_ _29\"></span>il c<span class=\"_ _29\"></span>oncetto <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>rilevanza <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>significativit\u00e0 <span class=\"_ _2b\"></span>ai fini dell'i<span class=\"_ _29\"></span>nformativa <span class=\"_ _29\"></span>finanziaria<span class=\"_ _29\"></span> <span class=\"ff5e\">nell\u2019ambito </span></span>della corretta presentazione <span class=\"_ _29\"></span>del bilancio richiesta dal p<span class=\"_ _29\"></span>aragrafo 15 dello IAS 1.<span class=\"ff56\"> </span>2.5.3.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Joint Venture </span></span>Una <span class=\"_ _2d\"> </span><span class=\"ff5a\">joint <span class=\"_ _2d\"> </span>venture</span> <span class=\"_ _2d\"> </span><span class=\"ff5d\">\u00e8 <span class=\"_ _2d\"> </span>un <span class=\"_ _2d\"> </span>accordo <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>trattuale <span class=\"_ _2d\"> </span>con <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>quale <span class=\"_ _2d\"> </span>due <span class=\"_ _2c\"> </span>o <span class=\"_ _2d\"> </span>pi\u00f9 <span class=\"_ _2d\"> </span>parti <span class=\"_ _2d\"> </span>intraprendono <span class=\"_ _2d\"> </span>un\u2019attivit\u00e0 </span>economica <span class=\"_ _97\"> </span>sottoposta <span class=\"_ _44\"> </span>a <span class=\"_ _97\"> </span>controllo <span class=\"_ _97\"> </span>con<span class=\"_ _0\"></span>giunto. <span class=\"_ _97\"> </span>Il <span class=\"_ _44\"> </span>controllo <span class=\"_ _97\"> </span>congiunto <span class=\"_ _44\"> </span>\u00e8 <span class=\"_ _97\"> </span>la <span class=\"_ _97\"> </span>condivisione, <span class=\"_ _44\"> </span>stabilita contrattualmente, <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>trollo <span class=\"_ _0\"></span>su <span class=\"_ _0\"></span>un\u2019attivit\u00e0 <span class=\"_ _0\"></span>economica. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span><span class=\"ff5a\">joint <span class=\"_ _22\"></span>venture<span class=\"ff56\"> <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>solidate <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>metodo <span class=\"_ _0\"></span>del </span></span>patrimonio netto cos\u00ec come previsto dall\u2019IFRS 11 paragrafo <span class=\"_ _0\"></span>24. <span class=\"ff56\"> </span>Denominazione  Sede Valuta % di possesso diretta indiretta KMD (HK) Holding Limited Hong Kong HKD<span class=\"ls0\"> </span>49,50% KMD Connectors Stolberg GmbH Germania Euro 49,50% KMD Precise Copper Strip Co. <span class=\"ls36\">Ltd</span> Cina RMB 49,50% Magnet Joint Venture Gmbh Germania Euro 44,55% L\u2019entit\u00e0 Magnet Joint Venture Gmbh \u00e8 relativa al busin<span class=\"_ _0\"></span>ess degli Speciali, il cui controllo (55%) era stato ceduto da KME SE a Paragon <span class=\"_ _0\"></span>con data di efficacia 31 gennaio 2022.<span class=\"_ _0\"></span> 2.5.4.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff61\">Variazioni dell\u2019area di consolidamento<span class=\"_ _0\"></span><span class=\"ff5c\"> </span></span></span>Nella <span class=\"_ _2b\"></span>redazio<span class=\"_ _0\"></span>ne <span class=\"_ _2b\"></span>del presente <span class=\"_ _2b\"></span>Bilancio <span class=\"_ _2b\"></span>le partecipazioni <span class=\"_ _2b\"></span>di controllo <span class=\"_ _2b\"></span>(KME <span class=\"_ _2b\"></span>Group <span class=\"_ _29\"></span>Srl, <span class=\"_ _2b\"></span>KME SE <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>CULTI Milano <span class=\"_ _2b\"></span>SpA) <span class=\"_ _29\"></span>detenute <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>investimento <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>parte <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>Capogruppo, <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>sino <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5d\">\u201ccambio <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>stato\u201d <span class=\"_ _2b\"></span>erano <span class=\"_ _2b\"></span>valutat<span class=\"_ _0\"></span>e<span class=\"ff56\"> </span></span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value<span class=\"_ _0\"></span> <span class=\"_\"> </span></span>anche <span class=\"_ _8b\"> </span>nel <span class=\"_\"> </span>b<span class=\"_ _0\"></span>ilancio <span class=\"_\"> </span>consolidato<span class=\"_ _0\"></span>, <span class=\"_\"> </span>sono <span class=\"_\"> </span>state <span class=\"_\"> </span>og<span class=\"_ _0\"></span>getto <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>consolidamento <span class=\"_\"> </span>in<span class=\"_ _0\"></span>tegrale <span class=\"_\"> </span>(si <span class=\"_\"> </span>facci<span class=\"_ _0\"></span>a riferimento <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>\u201cVariazione <span class=\"_ _28\"></span>per <span class=\"_ _28\"> </span>Entit\u00e0 <span class=\"_ _2c\"> </span>di <span class=\"_ _28\"></span>Investimento\u201d <span class=\"_ _28\"> </span><span class=\"ff56\">rappresenta<span class=\"_ _0\"></span>ta <span class=\"_ _28\"></span>nella <span class=\"_ _28\"></span>tabella <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>nota <span class=\"_ _28\"></span>esplicativa <span class=\"_ _28\"></span>4.4 </span>relativa <span class=\"_ _22\"></span>alle <span class=\"_ _22\"></span>Partecipazioni); <span class=\"_ _22\"></span>contestualmente <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>proceduto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>consolidamento <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>saldi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>tali <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _23\"></span>incluse nel <span class=\"_\"> </span>perimetro <span class=\"_\"> </span>di <span class=\"_\"> </span>consolidamento <span class=\"_\"> </span>registran<span class=\"_ _0\"></span>do <span class=\"_\"> </span><span class=\"ff5d\">un <span class=\"_\"> </span>incremento <span class=\"_\"> </span>dei <span class=\"_\"> </span>saldi <span class=\"_\"> </span>patrimon<span class=\"_ _0\"></span>iali <span class=\"_\"> </span>(\u201cVaria</span>zione <span class=\"_\"> </span>area <span class=\"_ _8b\"> </span>di consolidamento <span class=\"_\"> </span>IFRS <span class=\"_\"> </span>10<span class=\"ff5d\">\u201d <span class=\"_ _2a\"> </span>rappresentata <span class=\"_\"> </span>nelle <span class=\"_ _2a\"> </span>tabelle <span class=\"_ _2a\"> </span>delle <span class=\"_\"> </span>note <span class=\"_ _2a\"> </span>esplicative).</span> <span class=\"_\"> </span>Il <span class=\"_\"> </span>consolidamento <span class=\"_ _2a\"> </span>dei <span class=\"_\"> </span>dati contabili <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>partire <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>bilanci <span class=\"_ _22\"></span>subconsolidati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>CULTI, <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esente Bilancio <span class=\"_ _22\"></span>Consolidato <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rappresentati <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>gruppo <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>gruppo <span class=\"_ _23\"></span>CULTI, <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>fanno <span class=\"_ _22\"></span>capo <span class=\"_ _22\"></span>peraltro <span class=\"_ _22\"></span>le due Cash Generating Unit identificate dalla Societ\u00e0 (r<span class=\"_ _0\"></span>ispettivamente \u201cRame\u201d e \u201cProfumi e cosmesi\u201d)<span class=\"_ _0\"></span><span class=\"ff56\">. </span>Rispetto <span class=\"_\"> </span>alla <span class=\"_\"> </span>data <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>primo <span class=\"_ _2a\"> </span>consolidamento <span class=\"_\"> </span>(30 <span class=\"_\"> </span>aprile <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span>quale <span class=\"_\"> </span><span class=\"ff5d\">data <span class=\"_\"> </span>di <span class=\"_\"> </span>\u201cca<span class=\"_ _29\"></span>mbio<span class=\"ff56\"> <span class=\"_\"> </span></span>di <span class=\"_\"> </span>stato\u201d), <span class=\"_\"> </span><span class=\"ff56\">si </span></span>evidenziano le seg<span class=\"ff5d\">uenti variazioni dell\u2019area di conso<span class=\"_ _0\"></span>ldiamento</span> <span class=\"ff5d\">avvenute nel corso<span class=\"_ _0\"></span> dell\u2019esercizio</span>: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">sono uscite dal <span class=\"_ _0\"></span>perimetro di <span class=\"_ _0\"></span>consolidamento <span class=\"_ _0\"></span>Ilnor <span class=\"_ _0\"></span>Srl (entit\u00e0 <span class=\"_ _0\"></span>fusa in <span class=\"_ _0\"></span>KME Italy <span class=\"_ _0\"></span>SpA <span class=\"_ _0\"></span>il 1\u00b0 <span class=\"_ _0\"></span>luglio </span></span>2022 <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>effetto <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economico <span class=\"_ _23\"></span>retroattivo <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>1\u00b0 <span class=\"_ _22\"></span>gennaio <span class=\"_ _23\"></span>2022) <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Chile <span class=\"_ _23\"></span>Limitada (entit\u00e0 sciolta in data 15 luglio 2022)<span class=\"_ _0\"></span>; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">sono <span class=\"_ _23\"></span>entrate <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>perimetro <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>consolidamento <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Nethrlands <span class=\"_ _23\"></span>B.V., <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Service </span></span>Centre <span class=\"_ _29\"></span>Italy <span class=\"_ _29\"></span>SpA, KME <span class=\"_ _2b\"></span>Service Centre <span class=\"_ _2b\"></span>UK Ltd <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>KME <span class=\"_ _29\"></span>Service <span class=\"_ _29\"></span>Centre <span class=\"_ _29\"></span>Slovakia <span class=\"_ _29\"></span>s.r.o., in <span class=\"_ _2b\"></span>data 29 luglio <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>effetto <span class=\"_ _2a\"> </span>dell\u2019esecuzione <span class=\"_\"> </span>dell\u2019accordo <span class=\"_ _2a\"> </span>firmato <span class=\"_ _2a\"> </span>con <span class=\"_\"> </span>Aurubis, <span class=\"_ _2a\"> </span>finalizzato<span class=\"ff56\"> <span class=\"_\"> </span><span class=\"ls1\">dopo </span></span>l'approvazione <span class=\"_ _0\"></span>da parte <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>autorit\u00e0 <span class=\"_ _0\"></span>competenti <span class=\"_ _0\"></span>per il <span class=\"_ _0\"></span>controllo <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>fusioni nel <span class=\"_ _0\"></span>maggio <span class=\"_ _0\"></span>2022; tali <span class=\"_ _2b\"></span>saldi <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>rappresentati <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>movimentazione <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>immobilizzazioni <span class=\"_ _2b\"></span>come <span class=\"_ _2b\"></span>\u201cVariazione <span class=\"_ _2b\"></span>area di <span class=\"_ _2d\"> </span>consolidamento <span class=\"_ _2a\"> </span>KME <span class=\"_ _2d\"> </span>SE\u201d <span class=\"_ _2d\"> </span>rappresentata <span class=\"_ _2a\"> </span><span class=\"ff56\">in <span class=\"_ _2d\"> </span>alcune <span class=\"_ _2d\"> </span>tabelle <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>movimentazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2a\"> </span>note </span>esplicative <span class=\"ff5d\">(\u201cVariazione area di consoli</span>damento KME SE<span class=\"ff5d\">\u201d rappresentata nelle tabelle delle note </span>esplicative). Tramite <span class=\"_ _2b\"></span>questo <span class=\"_ _2b\"></span>accordo <span class=\"_ _2b\"></span>KME <span class=\"_ _2b\"></span>SE <span class=\"_ _29\"></span>ha <span class=\"_ _2b\"></span>quindi <span class=\"_ _2b\"></span>completato <span class=\"_ _2b\"></span>l'acquisto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>parte <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Aurubis nel <span class=\"_ _29\"></span>settore <span class=\"_ _2b\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>laminati <span class=\"_ _2b\"></span>piani. Il <span class=\"_ _2b\"></span>prezzo pagato <span class=\"_ _2b\"></span>per l'acquisto <span class=\"_ _2b\"></span>\u00e8 di <span class=\"_ _2b\"></span>Euro <span class=\"ls1\">19<span class=\"lsd\">,4</span></span> <span class=\"_ _2b\"></span>milioni anche <span class=\"_ _2b\"></span>a fronte di <span class=\"_ _2b\"></span>disponibilit\u00e0 <span class=\"_ _2b\"></span>liqui<span class=\"_ _0\"></span>de <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>8,5 <span class=\"_ _2b\"></span>milioni <span class=\"_ _29\"></span>nelle <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>acquisite <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>l <span class=\"_ _2b\"></span><span class=\"ff5a\">closing<span class=\"ff56\">. <span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>KME </span></span>SE <span class=\"_ _3c\"> </span><span class=\"ls0\">ha <span class=\"_ _49\"> </span>in<span class=\"_ _0\"></span>oltre <span class=\"_ _3c\"> </span>rimbo<span class=\"_ _0\"></span>rsato <span class=\"_ _49\"> </span>ad <span class=\"_ _49\"> </span>Aurubis <span class=\"_ _3c\"> </span>un<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>pr<span class=\"_ _0\"></span>estito <span class=\"_ _49\"> </span>intersocietario <span class=\"_ _49\"> </span>di <span class=\"_ _46\"> </span>Euro <span class=\"_ _3c\"> </span>53,4 <span class=\"_ _49\"> </span>milioni, </span>corrispondente <span class=\"_ _2b\"></span>a un <span class=\"_ _2b\"></span>pari <span class=\"_ _2b\"></span>impo<span class=\"_ _0\"></span>rto <span class=\"_ _2b\"></span>di capitale <span class=\"_ _2b\"></span>circolante <span class=\"_ _2b\"></span>net<span class=\"_ _0\"></span>to <span class=\"_ _29\"></span>nelle <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>target al <span class=\"_ _2b\"></span>momento <span class=\"_ _29\"></span>della chiusura. Con <span class=\"_ _23\"></span>riferimento <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>suddette <span class=\"_ _23\"></span>entit\u00e0, <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riportano<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>seguito <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>iscritte <span class=\"_ _23\"></span>in bilancio <span class=\"ff5d\">in seguito all\u2019allocazione del pr<span class=\"_ _0\"></span>ezzo di acquisto (Purchase Price Allocation <span class=\"_ _0\"></span>o \u201cPPA\u201d)<span class=\"_ _0\"></span></span>: (in migliaia di Euro) Post PPA di cui effetti PPA 69.448  39.832  Immobili, impianti e macc<span class=\"_ _29\"></span>hinari 688   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 immateriali 14.750  12.631  Attivit\u00e0 per imposte differite<span class=\"_ _29\"></span> 57.507   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Rimanenze 32.857   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Crediti commerciali 15.070   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 finanziarie correnti 2.075   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri crediti ed attivit\u00e0 correnti 8.516   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 200.911  52.463  Totale Attivit\u00e0 (700)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Benefici ai dipendenti (14.597) (10.277) Passivit\u00e0 per imposte differite (914)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (61.204)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (48.695)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti verso fornitori (8.813)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 correnti (150)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Fondi per rischi ed oneri (135.073) (10.277) Totale Passivit\u00e0 65.838  42.186  Totale Attivit\u00e0 (Passivit\u00e0) nette<span class=\"_ _29\"></span> 2.6.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Operazioni in valuta estera Valuta funzionale del Gruppo Come <span class=\"_ _23\"></span>gi\u00e0 <span class=\"_ _28\"></span>specificato <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>precedenza, <span class=\"_ _28\"></span>tutti <span class=\"_ _23\"></span>gli <span class=\"_ _28\"></span>importi <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>espressi <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>Euro <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>rappresenta <span class=\"_ _23\"></span>anche <span class=\"_ _28\"></span>la valuta funzionale della Capogruppo<span class=\"_ _0\"></span>.  Conversione dei bilanci in moneta diversa dall\u2019Euro<span class=\"_ _0\"></span><span class=\"ff5a\"> </span>I <span class=\"_\"> </span>bilanci <span class=\"_\"> </span>delle <span class=\"_ _2a\"> </span>entit\u00e0 <span class=\"_\"> </span>consolidate <span class=\"_\"> </span>che <span class=\"_\"> </span>sono <span class=\"_ _2a\"> </span>espressi <span class=\"_\"> </span>in <span class=\"_\"> </span>valuta <span class=\"_ _2a\"> </span>estera <span class=\"_\"> </span>sono <span class=\"_\"> </span>stati <span class=\"_\"> </span>convertiti <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>Euro applicando <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>singole <span class=\"_ _2b\"></span>poste <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>conto <span class=\"_ _2b\"></span>econo<span class=\"_ _0\"></span>mico <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>cambi <span class=\"_ _2b\"></span>medi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>esercizio <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>quelle <span class=\"_ _2b\"></span>dello <span class=\"_ _2b\"></span>stato <span class=\"_ _2b\"></span>patrimoniale i cambi correnti alla data di chiusura d<span class=\"_ _0\"></span>i detto bilancio.  I tassi di cambio utilizzati per la conversione d<span class=\"_ _0\"></span>elle valute estere sono i <span class=\"_ _0\"></span>seguenti: 31/12/2022 Medio 2022 Cambio puntuale Cambio medio GBP - Lira sterlina             0,8872            0,8689    RMB - Yuan cinese             7,3650            7,0790    HKD - Dollaro di Hong Kong             8,3241            8,2016    USD <span class=\"ls0\">- Dollaro USA </span>            1,0675            1,0474    La <span class=\"_ _2b\"></span>differenza <span class=\"_ _2b\"></span>tra <span class=\"_ _2b\"></span>l\u2019utile <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">esercizio <span class=\"_ _2b\"></span>quale <span class=\"_ _2b\"></span>risulta <span class=\"_ _2b\"></span>dalla <span class=\"_ _2b\"></span>conversione <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>cambi <span class=\"_ _2b\"></span>medi <span class=\"_ _2b\"></span>del<span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>quello </span>risultante <span class=\"_ _28\"></span>dalla <span class=\"_ _2c\"></span>conversione <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>base <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>cambi <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>fine <span class=\"_ _2c\"></span>dicembre <span class=\"_ _28\"></span>20<span class=\"_ _0\"></span>22, <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>competenza <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>presente <span class=\"_ _2c\"></span>Bilancio<span class=\"_ _0\"></span> Consolidato<span class=\"ff5d\">, <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>affluita <span class=\"_ _23\"></span>nelle <span class=\"_ _0\"></span>\u201cAltre <span class=\"_ _23\"></span>riserve\u201d <span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>nel <span class=\"_ _0\"></span>\u201cPatrimonio<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>terzi\u201d <span class=\"_ _23\"></span>rispettivamente <span class=\"_ _0\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>part<span class=\"_ _0\"></span></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> competenza del Gruppo e delle minoranz<span class=\"_ _0\"></span>e. 2.7.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Principi contabili adottati 2.7.1.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Immobili, impianti e macchinari </span></span>2.7.1.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Beni strumenta<span class=\"_ _0\"></span>li di propriet\u00e0 Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>macchinari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo <span class=\"_ _0\"></span>d\u2019acquisizione <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>produzione, <span class=\"_ _0\"></span>comprensivo degli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>acce<span class=\"_ _29\"></span>ssori <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>diretta <span class=\"_ _23\"></span>imputazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>esposti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>relativi <span class=\"_ _28\"></span>ammortamenti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>eventuali perdite di valore determina<span class=\"_ _0\"></span>te secondo le mod<span class=\"_ _0\"></span>alit\u00e0 descritte in <span class=\"_ _0\"></span>seguito. Se un<span class=\"_ _0\"></span> elemento di immobili,<span class=\"_ _0\"></span> impianti e macchinari <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _2c\"></span>composto <span class=\"_ _2c\"></span>da <span class=\"_ _2c\"></span>vari <span class=\"_ _28\"></span>compo<span class=\"_ _0\"></span>nenti <span class=\"_ _2c\"></span>aventi <span class=\"_ _28\"></span>vite <span class=\"_ _2c\"></span>utili <span class=\"_ _2c\"></span>differenti, <span class=\"_ _28\"></span>tali <span class=\"_ _2c\"></span>componenti <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>contabilizzati separatamente. Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>macchinari sono <span class=\"_ _22\"></span>valutati <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo, <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _0\"></span>ammortamenti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>perdite di valore <span class=\"_ _0\"></span>accumulate, ad <span class=\"_ _0\"></span>eccezione dei <span class=\"_ _0\"></span>terreni che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>sono ammortizzati <span class=\"_ _0\"></span>e che <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>valutati al <span class=\"_ _0\"></span>costo al <span class=\"_ _0\"></span>netto delle perdite di valore accumulate. I <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>manutenzione <span class=\"_ _2f\"> </span>ordinaria <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>spesati <span class=\"_ _2f\"> </span>nell\u2019esercizio <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>sostenimento <span class=\"_ _2f\"> </span>mentre <span class=\"_ _2f\"> </span>i <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di sostituzione <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>alcune <span class=\"_ _0\"></span>parti <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>immobilizzazioni <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>manutenzione <span class=\"_ _0\"></span>straord<span class=\"_ _0\"></span>inaria <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>capitalizzati quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>probabile <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>derivino <span class=\"_ _23\"></span>futuri <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>misurabili. <span class=\"_ _23\"></span>Gli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>relativi all\u2019acquisto di immobilizzazioni sono<span class=\"_ _0\"></span> capitalizzati ai sensi dello IAS 23.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Gli ammortamenti sono contabilizzati a partire d<span class=\"_ _0\"></span>al mese in cui il cespite \u00e8 disponibile per l\u2019uso, oppure \u00e8 <span class=\"_ _22\"></span>potenzialmente <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>grado <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>economici <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>esso <span class=\"_ _22\"></span>associati. <span class=\"_ _22\"></span>Sono<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>imputati <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>mensile <span class=\"_ _22\"></span>a quote costanti fino ad esaurimento della vita utile, <span class=\"_ _0\"></span>oppure, per le dismissioni, fino all\u2019ultimo mese di utilizzo.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>La vi<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>utile \u00e8 <span class=\"_ _0\"></span>costantemente <span class=\"_ _0\"></span>verificata <span class=\"_ _0\"></span>tene<span class=\"_ _0\"></span><span class=\"ff5d\">ndo <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>considerazione <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>cambiamenti <span class=\"_ _0\"></span>nell\u2019intensit\u00e0 </span>di <span class=\"_ _2d\"> </span>utilizzo <span class=\"_ _2d\"> </span>dei <span class=\"_ _2a\"> </span>beni <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>eventuali <span class=\"_ _2d\"> </span>cambiamenti <span class=\"_ _2a\"> </span>ai <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>d\u2019ammortamento <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>apportati <span class=\"_ _2d\"> </span>con <span class=\"_ _2d\"> </span>applicazione prospettica. Gli ammortamenti sono calcolati in base alle seguenti <span class=\"_ _0\"></span>vite utili: Fabbricati da 25 a 50 anni Impianti e macchinari da 10 a 40 anni Altre attrezzature da 5 a 15 anni Al momento della dismissione, il costo e il corrispon<span class=\"_ _0\"></span>dente ammortamento accumulato vengono eliminati; eventuali utili o perdite vengono registrati <span class=\"_ _0\"></span>nel conto economico. <span class=\"_ _0\"></span> 2.7.1.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Immobilizzazioni <span class=\"_ _0\"></span>in leasing  Un contratto, <span class=\"_ _0\"></span>o parte <span class=\"_ _0\"></span>di esso, <span class=\"_ _0\"></span>\u00e8 classificato <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _0\"></span>se, in cambio <span class=\"_ _0\"></span>di un <span class=\"_ _0\"></span>corrispettivo, conferisce <span class=\"_ _0\"></span>il diritto <span class=\"_ _2b\"></span>di controllare <span class=\"_ _2b\"></span>l'utilizzo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un'attivit\u00e0 specificata <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>un periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>tempo,<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>quindi, <span class=\"_ _29\"></span>se <span class=\"_ _2b\"></span>lungo tutt<span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>il periodo di utilizzo del bene si godr\u00e0 di entrambi i seguenti di<span class=\"_ _0\"></span>ritti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>di ott<span class=\"_ _29\"></span>enere <span class=\"_ _2b\"></span>sostan<span class=\"_ _0\"></span>zialmente <span class=\"_ _2b\"></span>tu<span class=\"_ _0\"></span>tti <span class=\"_ _2b\"></span>i benefici <span class=\"_ _2b\"></span>economici <span class=\"_ _29\"></span>derivanti <span class=\"_ _2b\"></span>dall'utilizzo dell'attivit\u00e0;  </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il diritto di decidere sull'utilizzo dell'attivit\u00e0.<span class=\"_ _0\"></span> </span></span>In caso di modifica dei termini e delle con<span class=\"_ _0\"></span>dizioni del contratto si procede ad una nuova valutazione p<span class=\"_ _0\"></span>er determinare se il contratto \u00e8 o contiene un leasing.<span class=\"_ _0\"></span> Il Gruppo non applica le presenti regole:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasin</span>g di attivit\u00e0 immateriali; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasing</span> a breve termine (durata minore o ugu<span class=\"_ _0\"></span>ale a 12 mesi). </span></span>Tutti <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span><span class=\"ff5a\">leasing <span class=\"_ _22\"></span></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>l'attivit\u00e0 <span class=\"_ _22\"></span>sottostante <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>modesto <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(attivit\u00e0 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>unitario <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>minore <span class=\"_ _22\"></span>o uguale a Euro 5.000) rientrano nell\u2019applicazione del mod<span class=\"_ _0\"></span>ello di calcolo del diritto d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Una <span class=\"_ _28\"></span>volta <span class=\"_ _28\"></span>verificato <span class=\"_ _2c\"></span>se <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>contratto <span class=\"_ _28\"></span>si <span class=\"_ _2c\"></span>configuri <span class=\"_ _28\"></span>quale <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>decorrenza <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>contratto vengono rilevate l'attivit\u00e0 consistente n<span class=\"_ _0\"></span>el diritto di utilizzo e la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>. La valutazione iniziale dell'attivit\u00e0 consistente nel diritto d<span class=\"_ _0\"></span>i utilizzo avviene al costo che comprende:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">l'importo della valutazione iniziale della passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _22\"></span>do<span class=\"_ _0\"></span>vuti <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _23\"></span>effettuati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>prima <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto </span></span>degli incentivi al <span class=\"ff5a\">leasing</span> ricevuti; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i costi iniziali diretti sostenuti dal locatario; e<span class=\"_ _0\"></span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">la <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>costi <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>dovranno <span class=\"_ _22\"></span>sostenere <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>smantellamento <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>l<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>rimozion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dell'attivit\u00e0 </span></span>sottostante <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>ripristino <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>sito <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>ubicata <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>rip<span class=\"_ _0\"></span>ristino <span class=\"_ _22\"></span>dell'attivit\u00e0 <span class=\"_ _23\"></span>sottostante nelle condizioni previste dai termini e dalle cond<span class=\"_ _0\"></span>izioni del <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. La <span class=\"_ _0\"></span>valutazione <span class=\"_ _22\"></span>iniziale <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>avviene <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>pagamenti <span class=\"_ _0\"></span>dovuti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>versati <span class=\"_ _2d\"> </span>a <span class=\"_ _2c\"> </span>tale<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>data. <span class=\"_ _2c\"></span>I <span class=\"_ _2d\"> </span>pagamenti <span class=\"_ _2d\"> </span>dovuti <span class=\"_ _2c\"></span>per <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span></span>leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>attualizzati <span class=\"_ _2d\"> </span>utilizzando <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>tasso <span class=\"_ _2d\"> </span>di </span>finanziamento ritenuto maggiormente rappresentativo<span class=\"_ _0\"></span> del costo del denaro.<span class=\"_ _0\"></span> La <span class=\"_ _41\"> </span>contabil<span class=\"_ _0\"></span>izzazione <span class=\"_ _41\"> </span>co<span class=\"_ _0\"></span><span class=\"ls15\">me <span class=\"_ _41\"> </span></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span> <span class=\"_ _3c\"> </span>avviene <span class=\"_ _41\"> </span>per <span class=\"_ _3c\"> </span>ogni <span class=\"_ _3c\"> </span>componente <span class=\"_ _41\"> </span>di <span class=\"_ _3c\"> </span><span class=\"ff5a\">leasing</span> <span class=\"_ _3c\"> </span>separandola <span class=\"_ _41\"> </span>dalle componenti non di <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. La <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>determinata <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>annullabile <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>vanno <span class=\"_ _22\"></span>aggiu<span class=\"_ _0\"></span>nti entrambi i seguenti periodi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _2b\"></span>coperti <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>un'opzione <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>proroga <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g<span class=\"ff56\">, <span class=\"_ _2b\"></span>se <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>ragio<span class=\"_ _0\"></span>nevole <span class=\"_ _2b\"></span>certezza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esercitare </span></span></span></span>l'opzione; e \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _23\"></span>coperti <span class=\"_ _22\"></span>dall'opzione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>risoluzione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ha <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>ragionevole <span class=\"_ _22\"></span>certezza <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>non<span class=\"_ _0\"></span> </span></span>esercitare l'opzione. In caso di <span class=\"_ _29\"></span>cambiamento del periodo <span class=\"_ _29\"></span>non annullabile del <span class=\"ff5a\">leasing</span>, <span class=\"_ _29\"></span>si provvede alla <span class=\"_ _2b\"></span>rid<span class=\"_ _0\"></span>eterminazione della durata del <span class=\"ff5a\">leasing</span>. Dopo <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>iscrizione <span class=\"_ _0\"></span>iniziale, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>dell'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>avviene <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>modello <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>costo. Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>nsistenti <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>diritto <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>utili<span class=\"_ _29\"></span>zzo <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>ammortizzate <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>contratto <span class=\"_ _22\"></span>sino <span class=\"_ _22\"></span>a<span class=\"_ _0\"></span>l termine della durata del <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. Dopo la data di decorrenza la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> \u00e8 valutata: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">aumentando il valore contabile per tener co<span class=\"_ _0\"></span>nto degli interessi sulla passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">diminuendo il valore contabile per tener co<span class=\"_ _0\"></span>nto dei pagamenti effettuati per il <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">rideterminando <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>tener <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>nuove <span class=\"_ _22\"></span>valutazioni <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>modifiche </span></span>del <span class=\"ff5a\">leasing</span> o della revisione dei pagamen<span class=\"_ _0\"></span>ti dovuti per il <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. Gli <span class=\"_ _23\"></span>interessi <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>variabili <span class=\"_ _23\"></span>dovuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>nella valutazione della passivit\u00e0 <span class=\"_ _29\"></span>del <span class=\"ff5a\">leasing</span>, sono <span class=\"_ _29\"></span>rilevati a <span class=\"_ _29\"></span>conto economico <span class=\"_ _29\"></span>nell'esercizio in cui <span class=\"_ _29\"></span>si verifica <span class=\"_ _29\"></span>l'evento o la circostanza che fa scattare i pagamen<span class=\"_ _0\"></span>ti. In bilancio <span class=\"_ _0\"></span>le attivit\u00e0 <span class=\"_ _0\"></span>consistenti <span class=\"_ _0\"></span>nel diritto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo sono <span class=\"_ _0\"></span>esposte separatamente<span class=\"_ _0\"></span> dalle <span class=\"_ _0\"></span>altre att<span class=\"_ _0\"></span>ivit\u00e0, le passivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _2c\"></span>separatamente <span class=\"_ _28\"></span>dalle <span class=\"_ _2c\"></span>altre <span class=\"_ _28\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>gli <span class=\"_ _2c\"></span>interessi <span class=\"_ _28\"></span>passivi <span class=\"_ _2c\"></span>sulla <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>del leasing<span class=\"ff56\"> <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _2e\"> </span>come <span class=\"_ _2e\"> </span>oneri <span class=\"_ _2f\"> </span>finanziari <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2e\"> </span>quota <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>ammortamento <span class=\"_ _2e\"> </span>dell'attivit\u00e0 </span>consistente nel diritto di utilizzo. 2.7.1.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Perdite di valore delle im<span class=\"_ _0\"></span>mobilizzazioni <span class=\"_ _0\"></span> In presenza di indicatori specifici di perdite di valore, immobili, impianti e macchinari sono soggetti ad una <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test<span class=\"_ _0\"></span></span>\u201d). <span class=\"_ _22\"></span>La <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>siste <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>ore <span class=\"_ _22\"></span>recuperabil<span class=\"_ _0\"></span>e dell\u2019attivit\u00e0, definito <span class=\"_ _0\"></span>come il <span class=\"_ _0\"></span>maggiore fra <span class=\"_ _0\"></span>il prezzo <span class=\"_ _0\"></span>netto di ven<span class=\"_ _0\"></span>dita e il <span class=\"_ _0\"></span>suo valore <span class=\"_ _0\"></span>d\u2019uso, <span class=\"_ _0\"></span>e nel confronto <span class=\"_ _0\"></span>con il <span class=\"_ _23\"></span>relativo <span class=\"_ _28\"></span>val<span class=\"ff5d\">ore <span class=\"_ _23\"></span>netto <span class=\"_ _28\"></span>contabile. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>recuperabile <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>maggior<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>d\u2019uso <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>suo <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span></span> dedotti <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinar<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>d\u2019uso <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>attesi <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>attualizzati <span class=\"_ _0\"></span>utilizzando<span class=\"_ _0\"></span> un <span class=\"_ _0\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto, <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>lordo <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>impost<span class=\"_ _0\"></span>e, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>rifletta <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>valutazioni <span class=\"_ _22\"></span>correnti <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>te<span class=\"_ _0\"></span>mporale del <span class=\"_\"> </span>denaro <span class=\"_ _8b\"> </span>e <span class=\"_ _2e\"> </span>dei <span class=\"_\"> </span>rischi <span class=\"_ _8b\"> </span>s<span class=\"_ _0\"></span>pecifici <span class=\"_\"> </span>dell\u2019<span class=\"_ _0\"></span>attivit\u00e0. <span class=\"_\"> </span>Se <span class=\"_ _8b\"> </span>il <span class=\"_ _8b\"> </span>valo<span class=\"_ _0\"></span>re <span class=\"_\"> </span>recuperabile <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_\"> </span>inferiore <span class=\"_ _8b\"> </span>al <span class=\"_ _8b\"> </span>va<span class=\"_ _0\"></span>lore <span class=\"_\"> </span>contabile, quest\u2019ultimo <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>recuperabile; <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>riduzione <span class=\"_ _22\"></span>viene <span class=\"_ _22\"></span>impu<span class=\"_ _0\"></span><span class=\"ff56\">tata <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>ov<span class=\"_ _0\"></span>vero <span class=\"_ _22\"></span>a </span>riserva <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>rivalutazione <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>stata <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2b\"></span>costituita in <span class=\"_ _2b\"></span>sede <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riv<span class=\"_ _0\"></span>alutazione <span class=\"_ _2b\"></span>dell\u2019attivit\u00e0 <span class=\"_ _29\"></span>interessata. Successive ed eventuali rivalutazioni seguon<span class=\"_ _0\"></span>o il percorso inverso.  2.7.2.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Investimenti immobiliari </span></span>Si <span class=\"_ _0\"></span>tratta <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _0\"></span>utilizzati <span class=\"_ _22\"></span>nella <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>oduzione <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>fornitura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>scopi <span class=\"_ _22\"></span>amministrativi <span class=\"_ _22\"></span>da parte del Grupp<span class=\"_ _0\"></span>o ma di <span class=\"_ _0\"></span>terreni e i <span class=\"_ _0\"></span>fabbricati detenuti <span class=\"_ _0\"></span>per ottenere canoni<span class=\"_ _0\"></span> di locazione e/o <span class=\"_ _0\"></span>per l'apprezzamento<span class=\"_ _0\"></span> del <span class=\"_ _2d\"> </span>capitale <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>vestito. <span class=\"_ _2d\"> </span>La <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>tali <span class=\"_ _2a\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>segue <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>modello <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span><span class=\"lsb\">, <span class=\"_ _2d\"> </span></span>rilevando <span class=\"_ _2a\"> </span>eventuali variazioni a conto economico e quindi non soggette a sistematico a<span class=\"_ _0\"></span>mmortamento. <span class=\"_ _0\"></span> Per <span class=\"_\"> </span>la <span class=\"_\"> </span>determinazione <span class=\"_\"> </span>del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>si <span class=\"_\"> </span>fa <span class=\"_\"> </span>riferime<span class=\"_ _29\"></span>nto <span class=\"_\"> </span>ad <span class=\"_\"> </span>un <span class=\"_\"> </span>valore <span class=\"_\"> </span>determinato <span class=\"_\"> </span>prevalentemente attraverso <span class=\"_ _22\"></span>perizie <span class=\"_ _23\"></span>esterne, <span class=\"_ _22\"></span>redatte <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>terzi <span class=\"_ _23\"></span>indipendenti <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>qualifiche <span class=\"_ _22\"></span>professionali <span class=\"_ _22\"></span>riconosciute <span class=\"_ _23\"></span>e che <span class=\"_ _2b\"></span>vantano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esperienze <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>tipol<span class=\"_ _0\"></span>ogia <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>immobili. <span class=\"_ _2b\"></span>Tali perizie <span class=\"_ _2b\"></span>si <span class=\"_ _2b\"></span>basano sul <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>metro <span class=\"_ _2b\"></span>quadrato stimato sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tazioni <span class=\"_ _0\"></span>effettuate <span class=\"_ _22\"></span>dall\u2019agenzia<span class=\"ff56\"> <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>territorio <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>immobili <span class=\"_ _22\"></span>ubicati <span class=\"_ _0\"></span>nella <span class=\"_ _22\"></span>stessa <span class=\"_ _0\"></span>area, <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>la </span>stessa <span class=\"_ _2c\"></span>destinazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2c\"> </span>considerand<span class=\"_ _0\"></span>o <span class=\"_ _2c\"></span>lo <span class=\"_ _2c\"></span>stato <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>manutenzione <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>tenuto <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>potenzialit\u00e0 <span class=\"_ _2c\"></span>immobiliari future. <span class=\"_ _23\"></span>Gli <span class=\"_ _22\"></span>utili <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dalla <span class=\"_ _22\"></span>vendita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>investimento <span class=\"_ _23\"></span>immobiliare <span class=\"_ _22\"></span>s<span class=\"_ _0\"></span>ono <span class=\"_ _23\"></span>registrati <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>conto economico. 2.7.3.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 immateriali </span></span>Le attivit\u00e0 <span class=\"_ _29\"></span>immateriali sono <span class=\"_ _29\"></span>attivit\u00e0 non <span class=\"_ _2b\"></span>monetarie, identificabili e prive <span class=\"_ _29\"></span>di co<span class=\"_ _29\"></span>nsistenza <span class=\"_ _29\"></span>fisica, possedute per essere <span class=\"_ _2b\"></span>ut<span class=\"_ _0\"></span>ilizzate in <span class=\"_ _29\"></span>un periodo <span class=\"_ _29\"></span>pluriennale <span class=\"_ _29\"></span>o indefinito. <span class=\"_ _29\"></span>Sono <span class=\"_ _29\"></span>iscritte al <span class=\"_ _2b\"></span>costo<span class=\"_ _0\"></span>, rettificato per <span class=\"_ _29\"></span>eventuali oneri accessori <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _22\"></span>attribuibili <span class=\"_ _22\"></span>all\u2019attivit\u00e0 <span class=\"_ _23\"></span>si <span class=\"_ _22\"></span>realizzino <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>se <span class=\"_ _0\"></span>il <span class=\"_ _23\"></span>costo dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>stessa <span class=\"_ _0\"></span>pu<span class=\"_ _0\"></span>\u00f2 <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>determinato <span class=\"_ _0\"></span>attendib<span class=\"_ _0\"></span>ilmente. <span class=\"_ _0\"></span>In <span class=\"_ _22\"></span>caso <span class=\"_ _0\"></span>contrario <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>costo <span class=\"_ _22\"></span>dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>immaterial<span class=\"_ _22\"></span><span class=\"ff56 ls6\">e </span>\u00e8 rilevato a conto economico nell\u2019esercizio in cui<span class=\"_ _0\"></span> \u00e8 stato sostenuto.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>2.7.3.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Avviamento e ag<span class=\"_ _0\"></span>gregazioni aziendali L\u2019avviamento <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riferisce <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>differenza <span class=\"_ _28\"></span>fra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>acquisizione <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _28\"></span>ed <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore corrente <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>attivit\u00e0, <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>trollata <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _28\"></span>L'avviamento derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>aggregazioni <span class=\"_ _2f\"> </span>aziendali <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _2e\"> </span>contabilizzato <span class=\"_ _2f\"> </span>come <span class=\"_ _2e\"> </span>attivit\u00e0 <span class=\"_ _2e\"> </span>al <span class=\"_ _2e\"> </span>costo <span class=\"_ _2f\"> </span>al <span class=\"_ _2e\"> </span>netto <span class=\"_ _2e\"> </span>delle <span class=\"_ _2e\"> </span>svalutazioni accumulate. <span class=\"_ _41\"> </span>La <span class=\"_ _3c\"> </span>vita <span class=\"_ _41\"> </span>utile <span class=\"_ _3c\"> </span>dell'avviamento <span class=\"_ _41\"> </span>\u00e8 <span class=\"_ _3c\"> </span>indefinita, <span class=\"_ _41\"> </span>e <span class=\"_ _41\"> </span>quindi <span class=\"_ _3c\"> </span>esso <span class=\"_ _41\"> </span>non <span class=\"_ _3c\"> </span>\u00e8 <span class=\"_ _41\"> </span>soggetto <span class=\"_ _41\"> </span>a <span class=\"_ _3c\"> </span>processo <span class=\"_ _41\"> </span>di ammortamento. Un\u2019aggregazione <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>imprese <span class=\"_ _22\"></span>consiste <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>un\u2019unione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>imprese <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>aziendali <span class=\"_ _22\"></span>distin<span class=\"_ _0\"></span>te <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>unico soggetto <span class=\"_ _2f\"> </span>tenuto <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>redazione <span class=\"_ _2f\"> </span>del <span class=\"_ _2e\"> </span>bilancio. <span class=\"_ _2f\"> </span>L\u2019aggregazione <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2f\"> </span>pu\u00f2 <span class=\"_ _2f\"> </span>dar <span class=\"_ _2f\"> </span>luogo <span class=\"_ _2e\"> </span>ad <span class=\"_ _2f\"> </span>un <span class=\"_ _2f\"> </span>legame partecipativo <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"></span>capogru<span class=\"ff5d\">ppo <span class=\"_ _2d\"> </span>(acquirente) <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>controllata <span class=\"_ _2c\"> </span>(acquisita) <span class=\"_ _2d\"> </span>ovvero <span class=\"_ _2c\"> </span>pu\u00f2 <span class=\"_ _2d\"> </span>anche <span class=\"_ _2d\"> </span>prevedere <span class=\"_ _2c\"> </span>l\u2019acquisto </span>dell\u2019attivo netto di un\u2019altra impresa, incluso l\u2019ev<span class=\"_ _0\"></span>entuale avviamento.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>ha <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _28\"></span>l'approccio <span class=\"_ _28\"></span>contabile <span class=\"_ _2c\"></span>dell'acquisizione <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>aggregazioni <span class=\"_ _28\"></span>aziendali <span class=\"_ _28\"></span>secondo<span class=\"_ _0\"></span> l'<span class=\"ls0\">IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>analogia <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>comune; <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>tale <span class=\"_ _23\"></span>appro<span class=\"_ _0\"></span>ccio, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>corrispettivo </span>trasferito per l'investimento viene confrontato con le attivit\u00e0 nette della partecipata, che vengono rimisurate al fair <span class=\"_ _2c\"></span>value<span class=\"ff56\">. <span class=\"_ _2d\"> </span>Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _2d\"> </span>nette <span class=\"_ _28\"></span>sono <span class=\"_ _2d\"> </span>basate <span class=\"_ _28\"></span>sui <span class=\"_ _2d\"> </span></span>fair <span class=\"_ _2c\"></span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _28\"></span>e <span class=\"_ _2d\"> </span>delle <span class=\"_ _28\"></span>passivi<span class=\"_ _0\"></span>t\u00e0, <span class=\"_ _2c\"></span>comprese <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>attivit\u00e0 </span>immateriali identificabili e le passivit\u00e0 potenziali d<span class=\"_ _0\"></span>a riconoscere come pas<span class=\"_ _0\"></span>sivit\u00e0 alla data di acquisizion<span class=\"_ _0\"></span>e. Se <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>possibile <span class=\"_ _2b\"></span>ottenere <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>borsa <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato <span class=\"_ _2b\"></span>pubblicati <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>l'allocazione<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>prezzo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>acquisto (Purchase Price <span class=\"_ _2b\"></span>Allocation<span class=\"_ _0\"></span> o <span class=\"_ _2b\"></span>\u201cPPA\u201d), i <span class=\"ff5a\">fair <span class=\"_ _2b\"></span>valu<span class=\"_ _0\"></span>e<span class=\"ff56\"> sono <span class=\"_ _2b\"></span>calcolati sulla base <span class=\"_ _2b\"></span>di tecniche di <span class=\"_ _2b\"></span>valutazion<span class=\"_ _0\"></span>e adeguate. </span></span>In <span class=\"_ _22\"></span>genere, <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>utilizza <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>sco<span class=\"_ _0\"></span>ntati <span class=\"_ _22\"></span>(\u201cDCF\u201d); <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>questo <span class=\"_ _22\"></span>metodo, <span class=\"_ _23\"></span>i flussi <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>cassa <span class=\"_ _49\"> </span>futuri <span class=\"_ _49\"> </span>attesi <span class=\"_ _3c\"> </span>che<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _49\"> </span>essere <span class=\"_ _3c\"> </span>gen<span class=\"_ _0\"></span>erati <span class=\"_ _3c\"> </span>dall'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _3c\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>attualizzati <span class=\"_ _3c\"> </span>alla <span class=\"_ _49\"> </span>data <span class=\"_ _49\"> </span>del consolidamento iniziale utilizzando un ta<span class=\"_ _0\"></span>sso di sconto che riflette il rischio intrinseco dell'attivit\u00e0.<span class=\"_ _0\"></span> L'eventuale <span class=\"_ _2b\"></span>e<span class=\"_ _0\"></span>ccedenza <span class=\"_ _2b\"></span>del corrispettivo <span class=\"_ _2b\"></span>trasferito <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>l'attivit\u00e0 acquisita <span class=\"_ _2b\"></span>rispetto <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>quota <span class=\"_ _29\"></span>proporzionale delle attivit\u00e0 nette acquisite viene <span class=\"_ _29\"></span>rilevata separatamente come avviamento; l'eventuale differenza negativa, al momento <span class=\"_ _2f\"> </span>de<span class=\"_ _0\"></span>lla <span class=\"_ _41\"> </span>rivalutazione <span class=\"_ _41\"> </span>delle <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _41\"> </span>e <span class=\"_ _2f\"> </span>passi<span class=\"_ _0\"></span>vit\u00e0 <span class=\"_ _41\"> </span>acquisite, <span class=\"_ _2f\"> </span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _2f\"> </span>im<span class=\"_ _0\"></span>putata <span class=\"_ _41\"> </span>direttamente <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>co<span class=\"_ _0\"></span>nto economico. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>minoranza <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>valutate <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>loro <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>orzionale <span class=\"_ _0\"></span>dei <span class=\"_ _23\"></span><span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _28\"></span>nette <span class=\"_ _28\"></span>acquisite<span class=\"lsb\">. <span class=\"_ _28\"></span></span>I <span class=\"_ _23\"></span>costi <span class=\"_ _28\"></span>accessori, <span class=\"_ _28\"></span>quali <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>consulenti, <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>aggregazion <span class=\"_ _28\"></span>aziendali <span class=\"_ _23\"></span>s<span class=\"_ _0\"></span>ono imputati a costo quando sostenuti<span class=\"lsb\">. </span> Le <span class=\"_ _0\"></span>successive <span class=\"_ _0\"></span>variazioni <span class=\"_ _22\"></span>delle partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>consolidate <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>comportano <span class=\"_ _0\"></span>un cambiamento del metodo di con<span class=\"_ _0\"></span>solidamento sono trattate come operazioni sul capitale proprio.<span class=\"_ _0\"></span> La <span class=\"_ _29\"></span>recuperabilit\u00e0 <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore di <span class=\"_ _2b\"></span>iscrizion<span class=\"_ _0\"></span>e <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>verificata annualmente <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>comunque <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>si verificano eventi <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>facciano <span class=\"_ _2b\"></span>presupporre <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>eventuali <span class=\"_ _2b\"></span>svalutazioni <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>oggetto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>ripristini di valore. 2.7.3.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Altre attivit\u00e0 immateriali a<span class=\"_ _0\"></span> vita utile definita Riguardano <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ive <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>consistenza <span class=\"_ _22\"></span>fisica, <span class=\"_ _23\"></span>identificabili, <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>dall\u2019impresa <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>grado <span class=\"_ _23\"></span>di produrre benefici economici futuri.<span class=\"_ _0\"></span> Le attivit\u00e0 <span class=\"_ _0\"></span>immateriali sono <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>inizialmente e rispettivamente<span class=\"_ _0\"></span> al <span class=\"_ _0\"></span>costo e <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> comprensivi degli oneri di <span class=\"_ _0\"></span>diretta attribuzione. <span class=\"_ _0\"></span>Esse sono po<span class=\"_ _0\"></span>i ammortizzate sistematicamente <span class=\"_ _0\"></span>lungo la lo<span class=\"_ _0\"></span>ro vita utile intesa<span class=\"_ _0\"></span> come la <span class=\"_ _22\"></span>stima del <span class=\"_ _0\"></span>perio<span class=\"_ _0\"></span>do <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo, <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>genere <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un arco <span class=\"_ _22\"></span>temporale <span class=\"_ _0\"></span>fra <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>3 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>10 <span class=\"_ _0\"></span>anni. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>lo<span class=\"_ _0\"></span>ro valore <span class=\"_ _0\"></span>residuo<span class=\"_ _0\"></span> al termine della vita utile \u00e8 ipotizzato uguale a zero.<span class=\"_ _0\"></span> La vita utile viene riesaminata annualmente e, se necessario, le aspe<span class=\"_ _0\"></span>ttative future vengono adeguate.<span class=\"_ _0\"></span> Dette attivit\u00e0 <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>inoltre <span class=\"_ _0\"></span>espresse <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>svalutazion<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>riduzioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>adottando <span class=\"_ _0\"></span>i medesimi criteri indicati per la voce \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Immobili, impianti e macchinari<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d.</span><span class=\"ff56\"> </span>2.7.4.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Partecipazioni </span></span>2.7.4.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 collegate e a controllo <span class=\"_ _0\"></span>congiunto Per societ\u00e0 <span class=\"_ _2b\"></span>collegate si <span class=\"_ _29\"></span>intendono le<span class=\"_ _29\"></span> societ\u00e0 <span class=\"_ _2b\"></span>su cui <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>Gruppo esercita <span class=\"_ _2b\"></span>un\u2019influenza notevole. <span class=\"_ _29\"></span>L\u2019influenza notevole \u00e8 <span class=\"_ _0\"></span>il potere <span class=\"_ _0\"></span>di partecipare <span class=\"_ _0\"></span>alla determina<span class=\"_ _0\"></span>zione delle <span class=\"_ _0\"></span>politiche fin<span class=\"_ _0\"></span>anziarie e <span class=\"_ _0\"></span>gestionali della <span class=\"_ _0\"></span>partecipata senza averne <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span>trollo o <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span><span class=\"ff5d\">trollo <span class=\"_ _0\"></span>congiunto. Si <span class=\"_ _0\"></span>presume l\u2019esistenza <span class=\"_ _0\"></span>di in<span class=\"_ _0\"></span>fluenza notevole <span class=\"_ _0\"></span>nel caso <span class=\"_ _0\"></span>in cui<span class=\"_ _0\"></span> </span>il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>possegga <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>percentuale <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>diritti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>voto <span class=\"_ _0\"></span>compresa <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>20% <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>50% <span class=\"_ _0\"></span>(esclusi <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>casi <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>vi <span class=\"_ _0\"></span>sia controllo congiunto). Una <span class=\"_ _22\"></span><span class=\"ff5a\">joint <span class=\"_ _0\"></span>ventu<span class=\"_ _0\"></span>re</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>acc<span class=\"_ _0\"></span>ordo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>parti <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>han<span class=\"_ _0\"></span>no <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>trollo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>dell'accordo hanno diritti sulle attivit\u00e0 nette dell'accordo stesso. Il controllo congiunto \u00e8 la condivisione del controllo di un accordo <span class=\"_ _22\"></span>concordata <span class=\"_ _22\"></span>contrattualmente, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>esiste <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>quando <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>decisioni <span class=\"_ _22\"></span>sulle<span class=\"_ _22\"></span> <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>rilevanti <span class=\"_ _22\"></span>richiedono <span class=\"_ _22\"></span>il consenso unanime delle parti che condi<span class=\"_ _0\"></span>vidono il controllo.<span class=\"_ _0\"></span> In <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>metodo <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>netto, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>collegate <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto (c.d. <span class=\"_ _29\"></span>in <span class=\"ff5a\">joint <span class=\"_ _2b\"></span>venture)<span class=\"ff56\"> sono <span class=\"_ _29\"></span>incluse <span class=\"_ _2b\"></span>nel bilancio consolidato <span class=\"_ _2b\"></span>al costo <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione, <span class=\"_ _2b\"></span>rettificato per <span class=\"_ _29\"></span>le <span class=\"_ _29\"></span>variazioni </span></span>della <span class=\"_ _29\"></span>quota <span class=\"_ _2b\"></span>del Gruppo <span class=\"_ _2b\"></span>nell'utile o <span class=\"_ _2b\"></span>nella pe<span class=\"_ _29\"></span>rdita <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>nelle altre <span class=\"_ _2b\"></span>componenti di <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico <span class=\"_ _29\"></span>complessivo <span class=\"_ _29\"></span>della joint <span class=\"_ _23\"></span>venture<span class=\"ff56\"> <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _22\"></span>collegata <span class=\"_ _23\"></span>dopo <span class=\"_ _23\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _22\"></span>Le <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un<span class=\"_ _22\"></span><span class=\"ls3\">a <span class=\"_ _23\"></span></span></span>joint <span class=\"_ _22\"></span>venture<span class=\"ff56\"> <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>un<span class=\"_ _0\"></span>a </span>societ\u00e0 <span class=\"_ _28\"></span>colle<span class=\"_ _0\"></span>gata <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>eccedono<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>quota <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>partecip<span class=\"_ _0\"></span>azione <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>tale <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _28\"></span>vengono <span class=\"_ _2c\"></span>rilevate. Vengono <span class=\"_ _2d\"> </span>rilevate <span class=\"_ _2d\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ha <span class=\"_ _2d\"> </span>assunto <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2d\"> </span>legali <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>fatto <span class=\"_ _2d\"> </span>ad <span class=\"_ _2d\"> </span>assumere <span class=\"_ _2d\"> </span>per<span class=\"_ _0\"></span>dite <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>effettua pagamenti al posto de<span class=\"_ _0\"></span>lla <span class=\"ff5a\">joint venture</span> o della societ\u00e0 collegata. 2.7.4.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 controllate Le <span class=\"_ _23\"></span>quote <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>partecipazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>consolidate <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>costo <span class=\"_ _23\"></span>rettificato <span class=\"_ _23\"></span>per perdite <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>valore.<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Se <span class=\"_ _2d\"> </span>il <span class=\"_\"> </span>Gruppo <span class=\"_ _2a\"> </span>perde <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>controllo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>una <span class=\"_\"> </span>contr<span class=\"_ _29\"></span>ollat<span class=\"_ _0\"></span>a, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>partecipazion<span class=\"_ _0\"></span>e <span class=\"_ _2a\"> </span>residua <span class=\"_ _2d\"> </span>nella <span class=\"_\"> </span>ex controllata \u00e8 valutata al <span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> al momento della perdita del controllo<span class=\"_ _0\"></span>. 2.7.4.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>altre imprese Le <span class=\"_ _2e\"> </span>partecipazion<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>minoranza <span class=\"_ _2e\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _2e\"> </span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>data <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>acquisizione <span class=\"_ _2f\"> </span>in <span class=\"_ _2e\"> </span>base <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>loro <span class=\"_ _2f\"> </span>quota proporzionale delle attivit\u00e0 <span class=\"_ _2b\"></span>nette identificabili della societ\u00e0 <span class=\"_ _29\"></span>acquisita. Considerando che <span class=\"_ _2b\"></span>non hanno un <span class=\"_ _29\"></span>impatto significativo sul patrimonio netto, su<span class=\"_ _0\"></span>i risultati finanziari e sui risultati operativi d<span class=\"_ _0\"></span>el Gruppo<span class=\"_ _0\"></span> tali partecipazio<span class=\"_ _0\"></span>ni sono <span class=\"_ _23\"></span>misurate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span></span>rilevato <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>altre <span class=\"_ _23\"></span>componenti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>economico <span class=\"_ _23\"></span>complessivo <span class=\"_ _23\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"_ _0\"></span> <span class=\"_ _23\"></span></span><span class=\"ls6\">e </span>sono soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span><span class=\"ff5a\">im<span class=\"_ _0\"></span>pairment<span class=\"ff56\"> ai <span class=\"_ _2b\"></span>sensi IFRS <span class=\"_ _2b\"></span>9 (ad eccezione <span class=\"_ _2b\"></span>di quelle <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>cui il <span class=\"_ _29\"></span>Gruppo si <span class=\"_ _2b\"></span>\u00e8 avvalso <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ella </span></span>c.d. \u201c<span class=\"ff5a\">OCI <span class=\"_ _2b\"></span>Ele<span class=\"_ _0\"></span>ction<span class=\"ff5d ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\">In <span class=\"_ _29\"></span>assenza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> elementi <span class=\"_ _2b\"></span>id<span class=\"_ _0\"></span>onei ad <span class=\"_ _2b\"></span>identificare <span class=\"ls9\">il </span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value, i<span class=\"ff56\"> loro <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> possono <span class=\"_ _2b\"></span>essere </span></span></span></span></span></span></span></span>approssimati dai costi di acquisizione. <span class=\"_ _0\"></span> 2.7.5.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 e passivit\u00e0 finanziarie </span></span>Iscrizione e misurazione iniziale<span class=\"ff56\"> </span>Un'attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>(a <span class=\"_ _23\"></span>meno <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>tratti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>credito <span class=\"_ _28\"></span>commerciale <span class=\"_ _23\"></span>senza <span class=\"_ _28\"></span>una <span class=\"_ _23\"></span>compo<span class=\"_ _0\"></span>nente <span class=\"_ _23\"></span>di<span class=\"_ _22\"></span> finanziamento <span class=\"_ _2a\"> </span>significativa) <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>una <span class=\"_ _2d\"> </span>passivit\u00e0 <span class=\"_\"> </span>finanziaria <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>izialmente <span class=\"_ _2a\"> </span>valutata <span class=\"_ _2d\"> </span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pi<span class=\"_ _0\"></span>\u00f9, <span class=\"_ _2a\"> </span>per <span class=\"_ _2d\"> </span>un elemento non a <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value through profit <span class=\"_ _29\"></span>&amp; loss<span class=\"ff56\"> <span class=\"ff5d ls16\">(\u201c</span>FVTPL<span class=\"ff5d ls3\">\u201d)</span>, i <span class=\"_ _29\"></span>costi di transazione <span class=\"_ _29\"></span>direttamente attribuibili alla </span></span>sua acquisizione o emissione. <span class=\"_ _0\"></span> Le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>possono <span class=\"_ _2d\"> </span>essere <span class=\"_ _2c\"></span>costituita<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>disponibilit\u00e0 <span class=\"_ _2c\"> </span>liquide <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>equivalenti, investimenti, crediti commerciali e strumenti finanziari d<span class=\"_ _0\"></span>erivati con <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> positivo.  Le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>comprendono <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>derivant<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dall'emissione <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>un'obbligazione debiti <span class=\"_ _23\"></span>verso <span class=\"_ _22\"></span>banche, <span class=\"_ _23\"></span>debiti <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>debiti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>leasing <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>derivati <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\"> negativi. </span>Le <span class=\"_ _23\"></span>disponibilit\u00e0 <span class=\"_ _23\"></span>liq<span class=\"_ _0\"></span>uide <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>mezzi <span class=\"_ _23\"></span>equivalenti <span class=\"_ _23\"></span>comprendo<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _23\"></span>bancari <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>tit<span class=\"_ _0\"></span>oli <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>br<span class=\"_ _0\"></span>eve termine con<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>scadenza orig<span class=\"_ _0\"></span>inaria in<span class=\"_ _0\"></span>feriore <span class=\"_ _0\"></span>a tre <span class=\"_ _0\"></span>mesi <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>irrilevante di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>variazioni di<span class=\"_ _0\"></span> valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>e sono<span class=\"_ _0\"></span> valutati <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>nominale. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _28\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertiti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di chiusura del bilanci<span class=\"ls1\">o.</span> Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>altre <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _0\"></span>rilevate <span class=\"_ _23\"></span>inizialmente <span class=\"_ _22\"></span>quando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>diventa <span class=\"_ _22\"></span>parte delle disposizioni contrattuali dello strumento. <span class=\"_ _0\"></span> Classificazione e misurazione successiv<span class=\"_ _0\"></span>a<span class=\"ff56\"> </span>Le attivit\u00e0 e passivit\u00e0 finanziarie sono <span class=\"_ _0\"></span>classificate in tre diverse categorie: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutati al <span class=\"ff5a\">fair value</span> con impatto<span class=\"_ _0\"></span> a conto economico <span class=\"ff5d\">(\u201cFVTPL\u201d)<span class=\"_ _0\"></span></span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _2b\"></span>valutate <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>impatto <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2b\"></span>complessiva <span class=\"_ _29\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"ff56\">; </span></span></span></span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutate al costo ammortizzato <span class=\"ff5d\">(\u201c<span class=\"_ _0\"></span>CA\u201d)</span>. Strumenti finanziari valutati al fair value con impatto a <span class=\"_ _0\"></span>conto economico<span class=\"_ _0\"></span> Le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _2c\"> </span>finanziarie <span class=\"_ _2c\"> </span>acqui<span class=\"_ _0\"></span>site <span class=\"_ _28\"></span>o <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _28\"></span>con <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>fine <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"></span>vendita <span class=\"_ _2c\"></span>sono classificate come \u201cattivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span><span class=\"ff56\">finanziarie al <span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> </span>rilevato a conto economico\u201d.<span class=\"ff56\"> </span>Un\u2019attivit\u00e0 <span class=\"_ _2b\"></span>finanziaria <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>derivata pu\u00f2 <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>designata <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>qualora tale <span class=\"_ _2b\"></span>designazione <span class=\"_ _2b\"></span>consenta </span></span>di <span class=\"_ _22\"></span>evitare <span class=\"_ _23\"></span><span class=\"ff5a\">accounting <span class=\"_ _22\"></span>mismatch<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>valutazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>associate <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>criteri valutativi diversi. Le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, analogamente alle <span class=\"_ _2b\"></span>attivit\u00e0 finanziarie, possono <span class=\"_ _29\"></span>essere <span class=\"_ _2b\"></span>desi<span class=\"_ _0\"></span>gnate, coerentemente a quanto <span class=\"_ _0\"></span>disposto da <span class=\"_ _0\"></span>IFRS 9, <span class=\"_ _0\"></span>al momento <span class=\"_ _0\"></span>della rilevazione <span class=\"_ _0\"></span>iniziale, come <span class=\"_ _0\"></span>passivit\u00e0 finanziarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\">, purch\u00e9: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>tale <span class=\"_ _28\"></span>designazione <span class=\"_ _2c\"></span>elimini <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>riduca <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>tevolmente <span class=\"_ _28\"></span>una <span class=\"_ _2c\"></span>discordanza <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>altrimenti <span class=\"_ _28\"></span>risulterebb<span class=\"_ _0\"></span>e dalla valutazione su basi diverse di attivit\u00e0<span class=\"_ _0\"></span> o passivit\u00e0 e dei relativi utili e perd<span class=\"_ _0\"></span>ite; ovvero -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie, <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>entrambe <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>ge<span class=\"_ _0\"></span>stito <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>valutato <span class=\"_ _22\"></span>al fair <span class=\"_\"> </span>value<span class=\"ff56\"> <span class=\"_\"> </span>secondo <span class=\"_\"> </span>una <span class=\"_\"> </span>gestione <span class=\"_\"> </span>del <span class=\"_\"> </span>rischio <span class=\"_\"> </span>o <span class=\"_\"> </span>una <span class=\"_\"> </span>strategia <span class=\"_\"> </span>di <span class=\"_\"> </span>investimento <span class=\"_\"> </span>documentata </span>internamente agli Organi Amministrativi <span class=\"_ _0\"></span>delle entit\u00e0. Un\u2019attivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>classificata <span class=\"_ _0\"></span>fra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>finanziarie<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _0\"></span>ob<span class=\"_ _0\"></span>bligatoriamente <span class=\"_ _0\"></span>valutate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value<span class=\"_ _0\"></span></span> </span>qualora la <span class=\"_ _29\"></span>stessa <span class=\"_ _29\"></span>non soddisfi le <span class=\"_ _2b\"></span>condizion<span class=\"_ _0\"></span>i, in <span class=\"_ _29\"></span>termini di <span class=\"ff5a\">business <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>el<span class=\"ff56\"> o <span class=\"_ _29\"></span>di caratteristiche <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ei flussi di <span class=\"_ _2b\"></span>cassa,<span class=\"_ _0\"></span> </span></span>per la valutazione al costo ammortizzato o al <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> con impatto sulla red<span class=\"_ _0\"></span>ditivit\u00e0 complessiv<span class=\"ls3\">a.</span> In particolare sono classificati in questo portafoglio<span class=\"_ _0\"></span>: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>debito, <span class=\"_ _23\"></span>titoli <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>finanziame<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>cui <span class=\"_ _28\"></span><span class=\"ff5a\">business <span class=\"_ _28\"></span>model</span> <span class=\"_ _23\"></span>n<span class=\"_ _0\"></span>on <span class=\"_ _28\"></span>risulta <span class=\"_ _23\"></span>essere <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span><span class=\"ff5a\">held<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>to </span>collect<span class=\"ff56\"> n\u00e9 </span>held to collect and sell<span class=\"ff56\"> <span class=\"_ _0\"></span>ma che non appartengono al portafoglio di negoziazione;<span class=\"_ _0\"></span> </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>debito, <span class=\"_ _22\"></span>titoli <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>finanziamenti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>solamente <span class=\"_ _22\"></span>la corresponsione di capitale e interessi; <span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>quote di OICR; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>capitale <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>detenuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>finalit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>quali <span class=\"_ _28\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>applica l\u2019opzione <span class=\"_ _22\"></span>conc<span class=\"ff56\">essa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>impatto<span class=\"_ _0\"></span> </span>sulla redditivit\u00e0 complessiva. Attivit\u00e0 finanziarie valutate al fair value con impatto sulla redd<span class=\"_ _0\"></span>itivit\u00e0 complessiva<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>classificata <span class=\"_ _23\"></span>fra <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span><span class=\"ff56\">anziarie <span class=\"_ _23\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>impatto <span class=\"_ _28\"></span>sulla </span>redditivit\u00e0 complessiva qualora: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _23\"></span><span class=\"ff5a\">business <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>el</span></span></span> <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>perseguito <span class=\"_ _23\"></span>mediante <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>raccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"></span>finanziari contrattuali sia la vendita delle attivit\u00e0 finanziarie <span class=\"_ _0\"></span><span class=\"ff5e\">(\u201cheld<span class=\"ff5a\">-<span class=\"ls9\">to</span>-collect and<span class=\"_ _0\"></span> </span>sell\u201d)</span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresponsione di capitale e interessi.<span class=\"_ _0\"></span> Inoltre <span class=\"_\"> </span>sono <span class=\"_\"> </span>classificati <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>questa <span class=\"_\"> </span>cate<span class=\"_ _29\"></span>goria, <span class=\"_\"> </span>gli <span class=\"_\"> </span>strumenti <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>capitale <span class=\"_ _2a\"> </span>non <span class=\"_\"> </span>detenuti <span class=\"_\"> </span>per <span class=\"_ _2a\"> </span>finalit\u00e0 <span class=\"_\"> </span>di negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _22\"></span><span class=\"ff5d\">applica <span class=\"_ _22\"></span>l\u2019opzione <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>concessa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>esti </span>strumenti al <span class=\"ff5a\">fair value</span> con impatto sulla reddi<span class=\"_ _0\"></span>tivit\u00e0 complessiva. Strumenti finanziari valutate al costo ammortizzato<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 finanziaria \u00e8 classificata fra le attivit\u00e0 fin<span class=\"_ _0\"></span>a<span class=\"ff56\">nziarie valutate al costo ammortizzato q<span class=\"_ _0\"></span>ualora: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _22\"></span><span class=\"ff5a\">business <span class=\"_ _23\"></span>model</span></span></span> <span class=\"_ _22\"></span>sia <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>possesso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finalizzato <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>ra<span class=\"_ _0\"></span>ccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi finanziari contrattuali (<span class=\"ff5e\">\u201cheld<span class=\"_ _0\"></span><span class=\"ff5a\">- <span class=\"ls9\">to</span>-</span>collect\u201d</span><span class=\"ls7\">); </span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresp<span class=\"_ _0\"></span>onsione di capitale e interessi. Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>valutate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>ammortizzato <span class=\"_ _23\"></span>comprendono <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>(diversi dalle <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>negoziazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>da <span class=\"_ _2c\"></span>quelle <span class=\"_ _2c\"> </span>desig<span class=\"_ _0\"></span>nate <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>) <span class=\"_ _28\"></span>rapp<span class=\"_ _0\"></span>resentativi <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>diverse <span class=\"_ _2c\"></span>forme <span class=\"_ _2c\"> </span>di provvista di fondi da terzi. Misurazione del fair value Il <span class=\"ff5a ls0\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">delle <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e delle <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span></span>fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 <span class=\"_ _0\"></span>determinato al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>loro </span></span>rilevazione iniziale per mezzo del prezzo d<span class=\"_ _0\"></span>i transazione, pari quindi al corrispettivo pag<span class=\"_ _0\"></span>ato o ricevuto<span class=\"_ _0\"></span>. Successivamente, e <span class=\"_ _2b\"></span>ad ogni <span class=\"_ _2b\"></span>data di <span class=\"_ _2b\"></span>bilancio, il <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>degli strumenti <span class=\"_ _2b\"></span>finanziari quotati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un mercato </span></span>attivo <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>basa <span class=\"_ _0\"></span>sui <span class=\"_ _22\"></span>prezzi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. <span class=\"_ _0\"></span>I <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>utilizzati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>derivati <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span><span class=\"ff5a\">bid price</span>, <span class=\"_ _22\"></span>mentre <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>le passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>gli<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5a\">ask <span class=\"_ _22\"></span>price</span>. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>e</span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>strumenti <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>quotati <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>attivo <span class=\"_ _0\"></span>\u00e8 determinato <span class=\"_ _2b\"></span>utilizzando tecniche <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valutazione, <span class=\"_ _29\"></span>basate <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>serie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>metodi <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>as<span class=\"_ _0\"></span>sunzioni <span class=\"_ _2b\"></span>legate a <span class=\"_ _2b\"></span>condizioni di mercato alla data di bilancio.  Il <span class=\"_ _2b\"></span><span class=\"ff5a ls0\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>degli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>quotati <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>determinato <span class=\"_ _29\"></span>scontando <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>flussi <span class=\"_ _29\"></span>finanziari </span></span>futuri per mezzo del tasso di interesse di mercato alla d<span class=\"_ _0\"></span>ata di riferimento del bilancio.<span class=\"_ _0\"></span> Determinazione della perdita di valore (impairment)<span class=\"_ _0\"></span> Tutte <span class=\"_ _2b\"></span>le attivit\u00e0 <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, <span class=\"_ _2b\"></span>ad eccezione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span><span class=\"ff5e\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>e passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>fair <span class=\"_ _29\"></span>value </span>rilevato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>conto economico\u201d, <span class=\"_ _2b\"></span><span class=\"ff56\">son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>riduzione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>valore conformemente <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>definito </span>dall\u2019IFRS 9 e quindi considerando anche gli effett<span class=\"_ _0\"></span><span class=\"ff56\">i delle <span class=\"ff5a\">expected losses</span>. <span class=\"_ _0\"></span> </span>Una <span class=\"_ _2b\"></span>perdita <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un\u2019attivit\u00e0 <span class=\"_ _29\"></span>finanziaria <span class=\"_ _2b\"></span>valutata <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>costo <span class=\"_ _2b\"></span>ammortizzato <span class=\"_ _2b\"></span>corr<span class=\"_ _0\"></span>isponde <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenza fra <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _2c\"></span>contabile <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>il <span class=\"_ _2c\"></span>valore <span class=\"_ _28\"></span>attuale <span class=\"_ _28\"></span>dei <span class=\"_ _2c\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>stimati <span class=\"_ _2c\"></span>attesi <span class=\"_ _28\"></span>attualizzati <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>interesse effett<span class=\"ff5d\">ivo <span class=\"_ _2c\"> </span>originale. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>perdita <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>un\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>finanziaria <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span></span> <span class=\"_ _2c\"></span>rilevato <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"> </span>econo<span class=\"_ _0\"></span>mico complessivo \u00e8 calcolata sulla base del <span class=\"ff5a\">fair val<span class=\"_ _0\"></span>ue</span> di detta attivit\u00e0. Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>rilevate <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>conto <span class=\"_ _22\"></span>economico<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>quelle <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>strumenti finanziari di <span class=\"ff5a\">equity <span class=\"ff5d\">per cui il Gruppo si \u00e8 <span class=\"_ _29\"></span>avvalso dell\u2019opzione di classificarlo a <span class=\"ff5a\">fair value <span class=\"ff56\">con impatto a conto </span></span></span></span>economico complessivo (c.d. \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">OCI Election</span><span class=\"ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span></span>Le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2a\"> </span>ripristinate <span class=\"_ _2d\"> </span>se <span class=\"_\"> </span>il <span class=\"_ _2d\"> </span>s<span class=\"_ _0\"></span>uccessivo <span class=\"_ _2a\"> </span>incremento <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>valore <span class=\"_ _2a\"> </span>pu\u00f2 <span class=\"_\"> </span>essere <span class=\"_ _2d\"> </span>og<span class=\"_ _0\"></span>gettivamente collegato <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>evento <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>verificato <span class=\"_ _22\"></span>successivamente <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>riduzion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dello <span class=\"_ _0\"></span>stesso. <span class=\"_ _22\"></span>Nel <span class=\"_ _22\"></span>caso <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 valutate <span class=\"_ _2f\"> </span>al <span class=\"_ _2f\"> </span>costo <span class=\"_ _2f\"> </span>ammortizzato <span class=\"_ _2f\"> </span>e <span class=\"_ _2f\"> </span>delle <span class=\"_ _2f\"> </span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _2f\"> </span>value</span> <span class=\"_ _2f\"> </span>rilevato <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _41\"> </span>economico <span class=\"_ _2f\"> </span>complessivo corrispondenti a titoli di debito<span class=\"_ _0\"></span>, il ripristino \u00e8 rilevato a conto economico.<span class=\"_ _0\"></span> Cancellazione (Derecognition)  Il <span class=\"_ _8b\"> </span>Gruppo <span class=\"_ _2e\"> </span>elimina <span class=\"_ _2e\"> </span>un'attivit\u00e0 <span class=\"_ _8b\"> </span>finanziaria <span class=\"_ _2e\"> </span>quando <span class=\"_ _2e\"> </span>scadono <span class=\"_ _2e\"> </span>i <span class=\"_ _8b\"> </span>diritti <span class=\"_ _2e\"> </span>contrattuali <span class=\"_ _2e\"> </span>sui <span class=\"_ _8b\"> </span>flussi <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>c<span class=\"_ _22\"></span>assa dell'attivit\u00e0 <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>pure <span class=\"_ _0\"></span>trasferisce <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>diritti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>ricevere <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>contrattuali <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span>transazione <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> cui <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>trasferiti <span class=\"_ _22\"></span>sostanzialmente <span class=\"_ _23\"></span>tutti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _23\"></span>dell'attivit\u00e0 <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>il Gruppo non <span class=\"_ _0\"></span>trasferisce n\u00e9 mantiene sost<span class=\"_ _0\"></span>anzialmente tutti <span class=\"_ _0\"></span>i rischi e <span class=\"_ _0\"></span>i benefi<span class=\"_ _0\"></span>ci <span class=\"_ _0\"></span>della propriet\u00e0 e <span class=\"_ _0\"></span>non mantiene <span class=\"_ _0\"></span>il controllo dell'attivit\u00e0 finanziaria. Il Gruppo cancella <span class=\"_ _29\"></span>una passivit\u00e0 finanziaria quando i suoi <span class=\"_ _29\"></span>obblighi contrattuali sono estinti <span class=\"_ _29\"></span>o cancellati, o <span class=\"_ _23\"></span>scadono. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _23\"></span>elimina <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quand<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>suoi<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>termini <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>modificati <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i flussi <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>modificata <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>sostanzialmente <span class=\"_ _2d\"> </span>diversi, <span class=\"_ _2c\"></span>nel <span class=\"_ _2d\"> </span>qual <span class=\"_ _28\"></span>caso <span class=\"_ _2d\"> </span>una <span class=\"_ _2c\"></span>nuova <span class=\"_ _2c\"></span>passivit\u00e0 finanziaria <span class=\"_ _28\"></span>basata <span class=\"_ _23\"></span>sui <span class=\"_ _28\"></span>termi<span class=\"_ _0\"></span>ni <span class=\"_ _28\"></span>modificati <span class=\"_ _23\"></span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span>. <span class=\"_ _28\"></span>I <span class=\"_ _28\"></span>termini <span class=\"_ _23\"></span>contrattuali <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>considerati sostanzialmente <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>presenza <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>determinate <span class=\"_ _2b\"></span>car<span class=\"_ _0\"></span>atteristiche <span class=\"_ _2b\"></span>qualitative <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>attualizzato <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _23\"></span>differisce <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>almeno <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>10% <span class=\"_ _22\"></span>dal <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>attualizzato <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>restanti <span class=\"_ _22\"></span>flussi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>passivit\u00e0 finanziaria originale secondo <span class=\"_ _0\"></span>i nuovi termini. Al momento <span class=\"_ _0\"></span>dell'eliminazion<span class=\"_ _0\"></span>e di <span class=\"_ _0\"></span>una passivi<span class=\"_ _0\"></span>t\u00e0 finanziaria, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>differenza <span class=\"_ _0\"></span>tra il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _0\"></span>estinto e il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>(incluse <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>liquide <span class=\"_ _23\"></span>trasferite <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>assunte) <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rilevata <span class=\"_ _23\"></span>nel conto economico. Compensazione tra attivit\u00e0 e passivit\u00e0 f<span class=\"_ _0\"></span>inanziarie<span class=\"ff56\"> </span>Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>compensate <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>presentato <span class=\"_ _23\"></span><span class=\"ff5d\">l\u2019importo <span class=\"_ _22\"></span>netto</span> <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>prospetto della <span class=\"_ _2b\"></span>situazione patrimoniale-finanziaria <span class=\"_ _2b\"></span>quando, e <span class=\"_ _2b\"></span>solo <span class=\"_ _2b\"></span>quando, <span class=\"_ _2b\"></span>il Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>diritto <span class=\"_ _2b\"></span>legalmente esercitabile a <span class=\"_ _2d\"> </span>compensare <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>impo<span class=\"_ _0\"></span>rti <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>intende <span class=\"_ _2d\"> </span>liqui<span class=\"_ _0\"></span>darli <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>netta <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>realizzare <span class=\"_ _2d\"> </span>l'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>liquidare <span class=\"_ _2d\"> </span>la<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>passivit\u00e0 contemporaneamente. 2.7.6.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Strumenti finanziari derivati </span></span>Il Gruppo util<span class=\"_ _29\"></span>izza una <span class=\"_ _29\"></span>serie di <span class=\"_ _29\"></span>strumenti finanziari <span class=\"_ _29\"></span>derivati per gestire <span class=\"_ _29\"></span>la <span class=\"_ _29\"></span>propria<span class=\"_ _0\"></span> esposizione al <span class=\"_ _29\"></span>rischio di tasso di interesse e <span class=\"_ _29\"></span>di cambio. Tali strumenti comprendono operazioni di <span class=\"_ _29\"></span>cambio a termine, swa<span class=\"_ _29\"></span>p su valute, swap su valute incrociate, swap su tassi d'<span class=\"_ _0\"></span>interesse e cap su tassi d'interesse. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>i<span class=\"_ _0\"></span>nizialmente <span class=\"_ _28\"></span>iscritti <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>stipula <span class=\"_ _28\"></span>del contratto. Il <span class=\"ff5a\">fair value</span> viene adeguato a ogni successiva data di bilancio. Qualsiasi utile o perdit<span class=\"_ _0\"></span>a derivante da una variazione del <span class=\"ff5a\">fair value</span> di uno strumento finanziario derivato che non fa parte di una copertura dei flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>investimento <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>estero <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>efficace, viene <span class=\"_ _2b\"></span>rilevato nel <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>gli <span class=\"_ _2b\"></span>strumenti finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>una <span class=\"_ _2b\"></span>relazione di <span class=\"_ _2b\"></span>copertura, il momento della rilevazio<span class=\"_ _0\"></span>ne degli utili o <span class=\"_ _0\"></span>delle perdite dipende <span class=\"_ _0\"></span>dalla natura della copertura. <span class=\"_ _0\"></span>Il Gruppo <span class=\"_ _0\"></span>utilizza alcuni <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>coprire <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _28\"></span>riconosciute. <span class=\"_ _28\"></span>Inoltre, <span class=\"_ _2c\"></span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hedge <span class=\"_ _28\"></span>accou<span class=\"_ _0\"></span>nting</span> viene <span class=\"_ _0\"></span>applicato <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>alcuni <span class=\"_ _22\"></span>impegni <span class=\"_ _0\"></span>irrevo<span class=\"_ _0\"></span>cabili <span class=\"_ _22\"></span><span class=\"ff5a\">off <span class=\"_ _0\"></span>bala<span class=\"_ _0\"></span>nce</span>. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>operazioni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>camb<span class=\"_ _0\"></span>io <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutate voce per voce <span class=\"_ _29\"></span>al tasso a <span class=\"_ _29\"></span>termine della data di <span class=\"_ _29\"></span>bilancio e le <span class=\"_ _29\"></span>differenze di cam<span class=\"_ _29\"></span>bio derivanti dal tasso <span class=\"_ _29\"></span>di cambio a termine contrattato sono incluse nel conto econ<span class=\"_ _0\"></span>omico.  Gli importi de<span class=\"_ _29\"></span>i contratti di <span class=\"_ _29\"></span>swap su <span class=\"_ _29\"></span>tassi d'interesse <span class=\"_ _29\"></span>sono contabilizzati nel <span class=\"_ _29\"></span>conto economico al<span class=\"_ _29\"></span>la data di pagamento o <span class=\"_ _0\"></span>alla data<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>bilancio. In<span class=\"_ _0\"></span>oltre, i con<span class=\"_ _0\"></span>tratti di <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e swap <span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e cap <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti al loro <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>alla data <span class=\"_ _2b\"></span>di chiusura <span class=\"_ _2b\"></span>del bilancio <span class=\"_ _2b\"></span>e le <span class=\"_ _2b\"></span>variazioni del <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>sono rilevate <span class=\"_ _2b\"></span>nel conto <span class=\"_ _2b\"></span>economico </span></span></span></span>dell'esercizio in corso, a condizione che non si app<span class=\"_ _0\"></span>lichi l'hedge accounting.<span class=\"_ _0\"></span> Gli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>relazione <span class=\"_ _3d\"></span>di <span class=\"_ _2b\"></span>copertura <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>classificati <span class=\"_ _2b\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 o passivit\u00e0 finanziarie correnti.<span class=\"_ _0\"></span> Operazioni di copertura Il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>avvale <span class=\"_ _2b\"></span>dell'opzione <span class=\"_ _2b\"></span>prevista <span class=\"_ _29\"></span>dall'IFRS <span class=\"_ _2b\"></span>9 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>contin<span class=\"_ _0\"></span>uare <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>contabilizzazione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>operazioni di copertura in base ai requisiti dello IAS 39.<span class=\"_ _0\"></span>  A <span class=\"_ _22\"></span>seconda <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>volume, <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>strut<span class=\"_ _0\"></span>tura <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>rischio, <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>designa <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>strumenti finanziari derivati come coperture di flussi di cassa o<span class=\"_ _0\"></span> coperture di un investimento netto <span class=\"_ _0\"></span>estero.<span class=\"_ _0\"></span> Quando <span class=\"_ _2d\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2a\"> </span>finanziari <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>caratteristiche <span class=\"_ _2a\"> </span>richieste <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hed<span class=\"_ _0\"></span>ge <span class=\"_ _2d\"> </span>accou<span class=\"_ _0\"></span>nting</span>, <span class=\"_ _2d\"> </span>vengo<span class=\"_ _0\"></span>no applicati i seguenti trattamenti contabili:<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>Fair <span class=\"_ _49\"> </span>value <span class=\"_ _49\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _49\"> </span>se <span class=\"_ _49\"> </span>un<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>strumento <span class=\"_ _49\"> </span>finanziario <span class=\"_ _46\"> </span>derivato <span class=\"_ _49\"> </span>\u00e8 <span class=\"_ _49\"> </span>designato <span class=\"_ _49\"> </span>come <span class=\"_ _49\"> </span>copertura </span>dell'esposizione <span class=\"_ _23\"></span>alle <span class=\"_ _23\"></span>variazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un'attivit\u00e0 <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>attribuibile <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>un particolare <span class=\"_ _2c\"> </span>rischio<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>pu\u00f2 <span class=\"_ _2c\"> </span>in<span class=\"_ _0\"></span>fluire <span class=\"_ _2d\"> </span>sul <span class=\"_ _2c\"></span>conto <span class=\"_ _2d\"> </span>economico, <span class=\"_ _2c\"></span>l'utile <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"></span>la <span class=\"_ _2d\"> </span>perdita <span class=\"_ _2c\"></span>derivanti <span class=\"_ _2d\"> </span>dalle successive <span class=\"_ _2f\"> </span>variazioni <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span><span class=\"ff5a\">fair <span class=\"_ _41\"> </span>value</span> <span class=\"_ _2f\"> </span>dello <span class=\"_ _41\"> </span>strumento <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>copertura <span class=\"_ _41\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>con<span class=\"_ _0\"></span>to economico. <span class=\"_ _28\"></span>L'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>elemento <span class=\"_ _28\"></span>coperto, <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _28\"></span>attribuibile <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>cop<span class=\"_ _0\"></span>erto, modificano il valore contabile di tale elemento e <span class=\"_ _0\"></span>sono rilevati a conto<span class=\"_ _0\"></span> economico; \u25aa <span class=\"_ _30\"> </span>Cash <span class=\"_ _2d\"> </span>flow <span class=\"_ _2a\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _2d\"> </span>se <span class=\"_ _2a\"> </span>uno <span class=\"_ _2d\"> </span>strumento <span class=\"_ _2a\"> </span>finanziario <span class=\"_ _2d\"> </span>derivato <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>designato <span class=\"_ _2d\"> </span>come <span class=\"_ _2a\"> </span>copertura <span class=\"_ _2d\"> </span>delle </span>variazioni <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _23\"></span>futuri <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un'attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>un'o<span class=\"_ _0\"></span>perazione <span class=\"_ _23\"></span>attesa altamente probabile e che potrebbe produrre effetti sul conto economico, la parte eff<span class=\"_ _0\"></span>icace degli utili <span class=\"_\"> </span>o <span class=\"_\"> </span>delle <span class=\"_\"> </span>perdite <span class=\"_\"> </span>dello <span class=\"_\"> </span>strumento <span class=\"_\"> </span>finanziario <span class=\"_\"> </span>(variazione <span class=\"_\"> </span>del <span class=\"_ _8b\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span>) <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>rilevata <span class=\"_\"> </span>nel patrimonio <span class=\"_ _3c\"> </span>netto. <span class=\"_ _3c\"> </span>L'utile <span class=\"_ _41\"> </span>o <span class=\"_ _3c\"> </span>la <span class=\"_ _3c\"> </span>perdita <span class=\"_ _3c\"> </span>accumulati <span class=\"_ _3c\"> </span>sono <span class=\"_ _3c\"> </span>stornati <span class=\"_ _3c\"> </span>dal <span class=\"_ _41\"> </span>patri<span class=\"_ _0\"></span>monio <span class=\"_ _3c\"> </span>netto <span class=\"_ _3c\"> </span>e contabilizzati a conto <span class=\"_ _0\"></span>economico nello s<span class=\"_ _0\"></span>tesso periodo in<span class=\"_ _0\"></span> cui si <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>verificata l'operazion<span class=\"_ _0\"></span>e oggetto di copertura. La <span class=\"_ _23\"></span>relazione <span class=\"_ _22\"></span>tra <span class=\"_ _23\"></span>l'elemento <span class=\"_ _23\"></span>coperto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>lo <span class=\"_ _23\"></span>strumento <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _23\"></span>compresi <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>obiettivi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>gestione <span class=\"_ _23\"></span>del rischio <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>strategia <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>intraprendere <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>perazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>documentati <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>pertura.<span class=\"_ _0\"></span> Inoltre, <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>un'operazione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>corso <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>sua <span class=\"_ _23\"></span>durata, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>verifi<span class=\"_ _0\"></span>ca <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>documenta regolarmente <span class=\"_ _23\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>altament<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>efficace <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>termini <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>compensazione <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>variazioni <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> cassa <span class=\"_ _2d\"> </span>dell'elemento <span class=\"_ _2a\"> </span>coperto <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>dell'investimento <span class=\"_ _2d\"> </span>netto. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2d\"> </span>info<span class=\"_ _0\"></span>rmazioni <span class=\"_ _2d\"> </span>sui <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>qu<span class=\"_ _0\"></span>esti <span class=\"_ _2d\"> </span>strumenti<span class=\"_ _0\"></span> finanziari <span class=\"_ _2e\"> </span>derivati <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>fornite <span class=\"_ _2e\"> </span><span class=\"ff5d\">nella <span class=\"_ _2f\"> </span>Sezione <span class=\"_ _2e\"> </span>\u201cAltre <span class=\"_ _2f\"> </span>informazioni\u201d</span>; <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2f\"> </span>della <span class=\"_ _2e\"> </span>riserva <span class=\"_ _2f\"> </span>per <span class=\"_ _2e\"> </span>gli adeguamenti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _28\"></span>all'interno <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>altre <span class=\"_ _28\"></span>componenti <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>economico complessivo possono essere ricavate dal prospetto <span class=\"_ _0\"></span>delle variazioni del patrimonio netto.<span class=\"_ _0\"></span> La <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>efficace <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>variazione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>derivati <span class=\"_ _2d\"> </span>designati <span class=\"_ _2d\"> </span>come copertura <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _28\"></span>investimenti <span class=\"_ _23\"></span>netti <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto; <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>parte <span class=\"_ _23\"></span>inefficace <span class=\"_ _28\"></span>\u00e8 rilevata <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>nel conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Gli importi <span class=\"_ _2b\"></span>rilevati nel <span class=\"_ _2b\"></span>patrimonio netto <span class=\"_ _2b\"></span>sono riclassificati <span class=\"_ _2b\"></span>nell'utile o nella perd<span class=\"_ _0\"></span>ita nel<span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> in <span class=\"_ _0\"></span>cui l'elemento cop<span class=\"_ _0\"></span>erto \u00e8 <span class=\"_ _0\"></span>rilevato nel <span class=\"_ _0\"></span>reddito. Le <span class=\"_ _0\"></span>variazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>degli investimenti netti di copertura sono compensate con le v<span class=\"_ _0\"></span>ariazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> degli strumenti di copertu<span class=\"_ _0\"></span>ra. La <span class=\"_ _28\"></span>contabilizzazione <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura <span class=\"_ _28\"></span>viene <span class=\"_ _23\"></span>interrotta <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>lo <span class=\"_ _28\"></span>strumento<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura scade <span class=\"_ _2b\"></span>o viene <span class=\"_ _2b\"></span>venduto, <span class=\"_ _2b\"></span>terminato o <span class=\"_ _2b\"></span>esercitato, <span class=\"_ _2b\"></span>o non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>pi\u00f9 ritenuto <span class=\"_ _2b\"></span>efficace. <span class=\"_ _2b\"></span>Qualsiasi utile <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>perdita cumulativa differita <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quel <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>rimane <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevata <span class=\"_ _2b\"></span>quando <span class=\"_ _2b\"></span>l'operazione prevista viene infine registrata nel <span class=\"_ _0\"></span>conto economico. Quando<span class=\"_ _0\"></span> non si prevede pi\u00f9 che un'op<span class=\"_ _0\"></span>erazione prevista si verifichi, <span class=\"_ _28\"></span>l'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>cumulativi <span class=\"_ _2c\"></span>differiti <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>vengono <span class=\"_ _28\"></span>immediatamente <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>ne<span class=\"_ _0\"></span>l conto economico. Gli strumenti finanziari <span class=\"_ _2b\"></span>der<span class=\"_ _0\"></span>ivati designati per <span class=\"_ _29\"></span>le operazioni <span class=\"_ _29\"></span>di copertura <span class=\"_ _29\"></span>sono classificati <span class=\"_ _29\"></span>come attivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>correnti <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>durata <span class=\"_ _22\"></span>residua <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>supera <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>dod<span class=\"_ _0\"></span>ici <span class=\"_ _0\"></span>mesi, <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o passivit\u00e0 correnti, o se la durata residua della relazione d<span class=\"_ _0\"></span>i copertura \u00e8 in<span class=\"_ _0\"></span>feriore a dodici mesi. 2.7.7.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Rimanenze  </span></span>Le <span class=\"_ _23\"></span>rimanenze <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>iscritte <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>minore <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisto <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>produzione, <span class=\"_ _23\"></span>determinato <span class=\"_ _23\"></span>secondo <span class=\"_ _23\"></span>il metodo del costo medio ponderato, ed il valore d<span class=\"_ _0\"></span>i presunto realizzo.<span class=\"_ _0\"></span> Le \u201cRimanenze\u201d <span class=\"_ _0\"></span>sono valutate <span class=\"_ _0\"></span>al minore<span class=\"_ _0\"></span> tra <span class=\"_ _0\"></span><span class=\"ff56\">il <span class=\"_ _0\"></span>costo secondo<span class=\"_ _0\"></span> il <span class=\"_ _0\"></span>principio \"<span class=\"_ _0\"></span><span class=\"ff5a\">First in <span class=\"_ _0\"></span>First out<span class=\"_ _0\"></span></span>\" (FiFo) <span class=\"_ _0\"></span>e il </span>valore netto<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>realizzo. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>realizzo <span class=\"_ _0\"></span>\u00e8 il <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita <span class=\"_ _0\"></span>stimato, <span class=\"_ _0\"></span>ovvero <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>quanto <span class=\"_ _0\"></span>riguarda <span class=\"_ _0\"></span>i prodotti <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>ram<span class=\"_ _29\"></span>e <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>prezzo <span class=\"_ _2a\"> </span>ufficiale <span class=\"_\"> </span>registrato <span class=\"_ _2a\"> </span>sul <span class=\"_ _2a\"> </span>mercato <span class=\"_ _2a\"> </span>LME <span class=\"_ _2a\"> </span>(<span class=\"ff5a\">London <span class=\"_\"> </span>Metal <span class=\"_ _2a\"> </span>Exchange</span>) <span class=\"_\"> </span>alla <span class=\"_ _2a\"> </span>data <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span> riferimento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>bilancio, <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>netto <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>costi <span class=\"_ _28\"></span>stimati <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>completamen<span class=\"_ _0\"></span>to <span class=\"_ _28\"></span>nonch\u00e9 <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>stimati <span class=\"_ _28\"></span>necessari <span class=\"_ _28\"></span>per realizzare la <span class=\"_ _29\"></span>vendita. Oltre <span class=\"_ _29\"></span>ai costi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>rettamente attribuibili sono <span class=\"_ _29\"></span>riflessi <span class=\"_ _29\"></span>nei costi <span class=\"_ _29\"></span>di produzione <span class=\"_ _29\"></span>i <span class=\"_ _29\"></span>costi generali di <span class=\"_ _23\"></span>produzione, <span class=\"_ _23\"></span>compresi <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>ammorta<span class=\"_ _0\"></span>menti <span class=\"_ _23\"></span>legati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>oduzione; <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>generalmente <span class=\"_ _23\"></span>assegnati <span class=\"_ _23\"></span>sulla base <span class=\"_ _28\"></span>del <span class=\"_ _2c\"> </span>met<span class=\"_ _0\"></span>odo <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>media <span class=\"_ _2c\"></span>mobile <span class=\"_ _2c\"></span>mensile; <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>alcuni <span class=\"_ _2c\"></span>casi <span class=\"_ _28\"></span>viene <span class=\"_ _2c\"></span>applicato <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>metodo <span class=\"_ _2c\"> </span>dell'identificazion<span class=\"_ _0\"></span>e specifica.  I lavori in <span class=\"_ _29\"></span>corso su <span class=\"_ _29\"></span>ordinazione sono valutati in <span class=\"_ _29\"></span>base allo stato <span class=\"_ _29\"></span>di avanzamento <span class=\"_ _29\"></span>dei lavori e <span class=\"_ _29\"></span>al prezzo <span class=\"_ _29\"></span>del corrispettivo contrattuale al netto dei costi contrattuali.<span class=\"_ _0\"></span> Le forniture e i materiali di consumo sono <span class=\"_ _0\"></span>valutati al costo medio ponderato.<span class=\"_ _0\"></span> 2.7.8.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Crediti e debiti </span></span>I <span class=\"_ _22\"></span>crediti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>debiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>normalmente <span class=\"_ _22\"></span>coincide <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>nominale <span class=\"_ _22\"></span>quando l\u2019effetto dell\u2019attualizzazione risulta irrilevante.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>I crediti commerciali sono rilevati inizialmente quan<span class=\"_ _0\"></span>do vengono originati. <span class=\"_ _0\"></span> Un credito <span class=\"_ _2b\"></span>commercial<span class=\"_ _0\"></span>e senza <span class=\"_ _2b\"></span>una significativa componente di <span class=\"_ _2b\"></span>fin<span class=\"_ _0\"></span>anziamento <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>inizialmente valutato <span class=\"_ _29\"></span>al prezzo della transazione.  Gli <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>perdite <span class=\"_ _23\"></span>su <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>sempre <span class=\"_ _28\"></span>valutati <span class=\"_ _23\"></span>per <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>impo<span class=\"_ _0\"></span>rto <span class=\"_ _23\"></span>pari <span class=\"_ _28\"></span>alle perdite di valore a vita sulla base dell'approccio semp<span class=\"_ _0\"></span>lificato secondo l'IFRS 9<span class=\"_ _0\"></span>. Eventuali <span class=\"_ _0\"></span>cessioni <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span>propri <span class=\"_ _0\"></span>crediti <span class=\"_ _0\"></span>commerciali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>factoring <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _0\"></span>essere <span class=\"_ _0\"></span>prosolu<span class=\"_ _0\"></span>to <span class=\"_ _0\"></span>o prosolvendo. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>og<span class=\"_ _0\"></span>getto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>cessione <span class=\"_ _28\"></span>pro <span class=\"_ _23\"></span>soluto <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>cancellati <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>bilancio, <span class=\"_ _23\"></span>poich\u00e9 <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>stati trasferiti <span class=\"_ _29\"></span>sostanzialmente tutti <span class=\"_ _2b\"></span>i rischi <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>i benefici <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>propriet\u00e0. <span class=\"_ _29\"></span>Le <span class=\"_ _29\"></span>spese <span class=\"_ _2b\"></span>di factoring per <span class=\"_ _2b\"></span>le cessioni <span class=\"_ _2b\"></span>di crediti pro <span class=\"_ _2b\"></span>soluto <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>riportate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _2b\"></span>\"Altri <span class=\"_ _29\"></span>costi <span class=\"_ _2b\"></span>operativi\". <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>ceduti <span class=\"_ _29\"></span>pro <span class=\"_ _2b\"></span>solvendo, <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>Gruppo <span class=\"_ _2b\"></span>mantiene sostanzialmente tutti<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>rischi e <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>benefici <span class=\"_ _2b\"></span>della propriet\u00e0. <span class=\"_ _2b\"></span>Questi crediti <span class=\"_ _2b\"></span>rimangono nella <span class=\"_ _2b\"></span>situazione patrimoniale del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>vengono <span class=\"_ _22\"></span>cancellati, <span class=\"_ _23\"></span>anche <span class=\"_ _22\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>passata <span class=\"_ _22\"></span>legal<span class=\"_ _0\"></span>mente. <span class=\"_ _23\"></span>Viene <span class=\"_ _22\"></span>inoltre <span class=\"_ _23\"></span>rilevata <span class=\"_ _22\"></span>u<span class=\"_ _0\"></span>na passivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>pari <span class=\"_ _22\"></span>importo. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>factoring <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>ceduti <span class=\"_ _0\"></span>pro <span class=\"_ _22\"></span>solven<span class=\"_ _22\"></span>do <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>riportate <span class=\"_ _0\"></span>tra gli oneri finanziari.  2.7.9.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Disponibilit\u00e0 liquide e mezzi equivalenti<span class=\"_ _0\"></span> </span></span>Comprendono <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>depositi <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>vista <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>investimenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>alta <span class=\"_ _22\"></span>liquidit\u00e0 che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ontamente <span class=\"_ _29\"></span>convertibili <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammontare <span class=\"_ _2b\"></span>noto di <span class=\"_ _2b\"></span>denaro<span class=\"_ _0\"></span> e <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>soggetti ad <span class=\"_ _2b\"></span>un rischio <span class=\"_ _2b\"></span>irrilevante di variazione di valore (IAS 7 paragrafo <span class=\"_ _0\"></span>7). 2.7.10.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Attivit\u00e0 e Passivit\u00e0 possedute p<span class=\"_ _0\"></span>er la vendita e attivit\u00e0 operative cessate (IFRS 5)<span class=\"_ _0\"></span> Le <span class=\"_ _23\"></span>Attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>Passivit\u00e0 <span class=\"_ _23\"></span>destin<span class=\"_ _0\"></span>ate <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>ven<span class=\"_ _0\"></span>dita <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>Attivit\u00e0 <span class=\"_ _23\"></span>operative <span class=\"_ _23\"></span>cessate <span class=\"_ _23\"></span>(<span class=\"ff5a\">Discontinued <span class=\"_ _23\"></span>Operation</span>) sono <span class=\"_ _2c\"></span>classificate <span class=\"_ _28\"></span>come <span class=\"_ _2c\"></span>tali <span class=\"_ _2c\"></span>se <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>loro<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>va<span class=\"_ _0\"></span>lore <span class=\"_ _28\"></span>con<span class=\"_ _0\"></span>tabile <span class=\"_ _28\"></span>sar\u00e0 <span class=\"_ _2c\"></span>recuperato <span class=\"_ _2c\"></span>principalmente <span class=\"_ _2c\"></span>attraverso <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>vendita piuttosto che attraverso l\u2019utilizzo continuativo.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Le attivit\u00e0 non <span class=\"_ _29\"></span>correnti o i <span class=\"_ _29\"></span>gruppi di tali <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 che vengono dismessi in <span class=\"_ _29\"></span>un'unica operazione (gruppi <span class=\"_ _29\"></span>in dismissione), comprese le passivit\u00e0 associate, sono classificate come possedute per la v<span class=\"_ _0\"></span>endita se il loro valore contabile <span class=\"_ _2c\"></span>sar\u00e0 <span class=\"_ _2c\"> </span>recuperato <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2c\"></span>attraverso <span class=\"_ _2c\"></span>un'operazione <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>vendita <span class=\"_ _2c\"> </span>piutto<span class=\"_ _0\"></span>sto <span class=\"_ _2c\"></span>che <span class=\"_ _2c\"></span>attravers<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>l'uso continuativo. Questa condizione \u00e8 soddisfatta solo quando <span class=\"_ _0\"></span>la dismissione \u00e8 altamente probabile e l'attivit\u00e0 o il gruppo in dismissione \u00e8 disponibile per la vendita immediata nelle<span class=\"_ _0\"></span> sue condizioni attuali.<span class=\"_ _0\"></span> L\u2019operazione di<span class=\"_ _0\"></span> vendi<span class=\"_ _0\"></span>ta deve <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>altamente probabile, <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>realizzazione <span class=\"_ _0\"></span>prevista <span class=\"_ _0\"></span>all\u2019interno <span class=\"_ _0\"></span>dei dodici <span class=\"_ _22\"></span>mesi. <span class=\"_ _22\"></span>Se <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>vendita <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>prevista <span class=\"_ _22\"></span>concludersi <span class=\"_ _22\"></span>dopo <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>anno, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutati <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendita <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>loro valore attuale<span class=\"_ _0\"></span>. Qualsiasi <span class=\"_ _0\"></span>increment<span class=\"_ _0\"></span>o nel <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di ven<span class=\"_ _0\"></span>dita<span class=\"_ _0\"></span> deriv<span class=\"_ _0\"></span>ante dal <span class=\"_ _0\"></span>trascorrere <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>tempo \u00e8 rilevata come componente finanziaria nel con<span class=\"_ _0\"></span>to economico.  Le attivit\u00e0 e le passivit\u00e0 del gruppo in dismissione sono esposte separatamente nello stato patrimoniale nelle <span class=\"_ _2b\"></span>voci <span class=\"ff5d\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>correnti <span class=\"_ _29\"></span>detenute <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>la vendita\u201d <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>\u201cPassivit\u00e0 direttamente <span class=\"_ _2b\"></span>collegate <span class=\"_ _2b\"></span>ad <span class=\"_ _29\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>detenute </span>per la vendita\u201d<span class=\"ff56\">. </span>In <span class=\"_ _29\"></span>caso <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>societ\u00e0 <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>trollate <span class=\"_ _29\"></span>con <span class=\"_ _29\"></span>l'unica <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span>tenzione di <span class=\"_ _2b\"></span>rivenderle, le <span class=\"_ _2b\"></span>attivit\u00e0 e <span class=\"_ _2b\"></span>le passivit\u00e0 sono <span class=\"_ _2a\"> </span>state <span class=\"_ _2a\"> </span>pertanto <span class=\"_ _2d\"> </span>indi<span class=\"_ _0\"></span>cate <span class=\"_ _2a\"> </span>come <span class=\"_ _2d\"> </span>detenute <span class=\"_\"> </span>per <span class=\"_ _2d\"> </span>la <span class=\"_\"> </span>vendita <span class=\"_ _2d\"> </span>nello <span class=\"_\"> </span>stato <span class=\"_ _2a\"> </span>patrimoniale <span class=\"_ _2d\"> </span>con<span class=\"_ _0\"></span>solidato. <span class=\"_ _2a\"> </span>Il <span class=\"_ _2a\"> </span>conto economico \u00e8 riepilogato nel risultato delle attivit\u00e0 operative cessate <span class=\"_ _0\"></span>del conto economico consolidato.<span class=\"_ _0\"></span> Le riclassificazioni delle attivit\u00e0 immateriali e degli immobili, impianti e macchinari sono riportate alla voc<span class=\"ls0\">e <span class=\"_ _28\"></span>trasferimenti <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>ris<span class=\"_ _0\"></span>pettivo <span class=\"_ _28\"></span>sviluppo <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo. <span class=\"_ _28\"></span>Le <span class=\"_ _2c\"></span>spese <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>ven<span class=\"_ _0\"></span>dite <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>in </span>dismissione <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>incluse <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>risultato <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>esercizio <span class=\"_ _23\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>momento <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>vendita. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>gruppo <span class=\"_ _23\"></span>in dismissione comprende anche <span class=\"_ _2b\"></span>l'avv<span class=\"_ _0\"></span>iamento acquisito in <span class=\"_ _29\"></span>un'aggregazione aziendale <span class=\"_ _29\"></span>se il <span class=\"_ _2b\"></span>grup<span class=\"_ _0\"></span>po in <span class=\"_ _29\"></span>dismissione rappresenta <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span>'unit\u00e0 <span class=\"_ _23\"></span>gen<span class=\"_ _0\"></span>eratrice <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>l'avviamento <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _28\"></span>allocato <span class=\"_ _23\"></span>ad <span class=\"_ _28\"></span>essa. <span class=\"_ _28\"></span>Se <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>in dismissione <span class=\"_\"> </span>rappresenta <span class=\"_\"> </span>solo <span class=\"_ _2a\"> </span>una <span class=\"_\"> </span>parte <span class=\"_ _2a\"> </span>dell'unit\u00e0 <span class=\"_\"> </span>generatrice <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>flussi <span class=\"_\"> </span>finanziari, <span class=\"_\"> </span>gli <span class=\"_\"> </span>viene <span class=\"_\"> </span>attribuito <span class=\"_ _2a\"> </span>un avviamento proporzionale e viene registrato come \"Attiv<span class=\"_ _0\"></span>it\u00e0 destinate alla vendita\".<span class=\"_ _0\"></span> Gli <span class=\"_ _2c\"></span>ammortamenti <span class=\"_ _2c\"></span>programmati <span class=\"_ _2c\"></span>non <span class=\"_ _2c\"></span>vengono <span class=\"_ _2c\"></span>pi\u00f9 <span class=\"_ _2c\"></span>rilevati <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>destinate <span class=\"_ _2c\"></span>alla <span class=\"_ _2c\"></span>vendita. <span class=\"_ _2c\"></span>Esse vengono iscritte al minore tra il valore c<span class=\"_ _0\"></span>ontabile e il fair value al netto dei <span class=\"_ _0\"></span>costi di vendita. 2.7.11.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Patrimonio netto Il <span class=\"_ _29\"></span>capitale <span class=\"_ _29\"></span>sociale <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>costituito da <span class=\"_ _2b\"></span>azioni ordinarie <span class=\"_ _2b\"></span>e da <span class=\"_ _2b\"></span>azion<span class=\"_ _0\"></span>i <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>risparmio, <span class=\"_ _29\"></span>tutte <span class=\"_ _29\"></span>prive <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _29\"></span>nominale, sottoscritte e versate alla data di riferimento del presente bilancio, ridotto eventualmente dei crediti verso soci per decimi ancora da versare. <span class=\"_ _0\"></span> Gli altri <span class=\"_ _0\"></span>utili <span class=\"ff5d\">o <span class=\"_ _0\"></span>perdite <span class=\"_ _0\"></span>iscritti a <span class=\"_ _0\"></span>conto econo<span class=\"_ _0\"></span>mico complessivo <span class=\"_ _0\"></span>(\u201cOCI\u201d)</span> <span class=\"_ _0\"></span>comprendon<span class=\"_ _0\"></span>o gli <span class=\"_ _0\"></span>aggiustamenti di conversione <span class=\"_ _0\"></span>delle valute<span class=\"_ _0\"></span> estere <span class=\"_ _0\"></span>derivanti dalla <span class=\"_ _0\"></span>conversione <span class=\"_ _0\"></span>dei bi<span class=\"_ _0\"></span>lanci del<span class=\"_ _22\"></span>le controllate <span class=\"_ _0\"></span>estere, le <span class=\"_ _0\"></span>variazioni<span class=\"_ _0\"></span> del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>delle <span class=\"_\"> </span>coperture <span class=\"_ _2a\"> </span>dei <span class=\"_\"> </span>flussi <span class=\"_\"> </span>di <span class=\"_\"> </span>cassa <span class=\"_\"> </span>e <span class=\"_ _2a\"> </span>la <span class=\"_\"> </span>rivalutazione <span class=\"_\"> </span>delle <span class=\"_ _2a\"> </span>immobilizzazioni <span class=\"_\"> </span>prima <span class=\"_\"> </span>della riclassificazione <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>investimento <span class=\"_ _2d\"> </span>immobiliare. <span class=\"_ _2d\"> </span>Sono <span class=\"_ _2d\"> </span>inoltre <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>ncluse <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"> </span>ut<span class=\"_ _0\"></span>ili <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>perdite attuariali degli impegni pensionistici secon<span class=\"_ _0\"></span>do lo IAS 19, al netto delle imposte differite.<span class=\"_ _0\"></span> Le partecipazioni di minoranza rappresentano gli interessi di terzi nelle co<span class=\"_ _0\"></span>ntrollate consolidate.<span class=\"_ _0\"></span> 2.7.11.1.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Azioni proprie (IAS 32) </span></span>Il <span class=\"_ _2c\"></span>valore <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2c\"></span>proprie, <span class=\"_ _2c\"> </span>secondo<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>quanto<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>evisto <span class=\"_ _2c\"></span>dallo <span class=\"_ _2c\"> </span>IAS <span class=\"_ _2d\"> </span>32, <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2c\"></span>esposto <span class=\"_ _2d\"> </span>in <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span>minuzione <span class=\"_ _2c\"></span>del capitale <span class=\"_ _22\"></span>emesso. <span class=\"_ _22\"></span>Tale <span class=\"_ _22\"></span>rappresentazione <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>per\u00f2 <span class=\"_ _22\"></span>unicamente <span class=\"_ _22\"></span>n<span class=\"_ _0\"></span>elle <span class=\"_ _22\"></span>note <span class=\"_ _22\"></span>esplicative, <span class=\"_ _22\"></span>mentre <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ospetti <span class=\"_ _22\"></span>il costo <span class=\"_ _2b\"></span>stori<span class=\"_ _0\"></span>co <span class=\"_ _2b\"></span>delle azioni <span class=\"_ _2b\"></span>proprie <span class=\"_ _2b\"></span>possedute figura <span class=\"_ _2b\"></span>distintamente <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>segno <span class=\"_ _2b\"></span>negativo a<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>riduzi<span class=\"_ _0\"></span>one del <span class=\"_ _2b\"></span>patrimonio netto. I costi per operazioni sul patrimonio netto <span class=\"_ _0\"></span>sono imputati direttamente a riduzione delle riserve.<span class=\"_ _0\"></span> <span class=\"_ _0\"></span> 2.7.11.2.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Accordi di pagamento basati su propri strumenti p<span class=\"_ _0\"></span>atrimoniali (IFRS 2)<span class=\"_ _0\"></span> </span></span>Nell\u2019ambito <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>piani <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>incentivazione <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>medio<span class=\"ff56\">-lung<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>previsti <span class=\"_ _23\"></span>accordi <span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>favore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>parte </span>del <span class=\"_ _2b\"></span>management, con <span class=\"_ _2b\"></span>pagamenti <span class=\"_ _2b\"></span>basati <span class=\"_ _29\"></span>su <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>rappresentative <span class=\"_ _2b\"></span>del capitale, <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>consistono <span class=\"_ _29\"></span>nell\u2019assegnazione di diritti<span class=\"_ _0\"></span> che <span class=\"_ _0\"></span>attribuiscono <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>beneficiari, <span class=\"_ _0\"></span>subordinatamente <span class=\"_ _0\"></span>all\u2019avverarsi <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>stabilite, <span class=\"_ _0\"></span>i<span class=\"_ _0\"></span><span class=\"ff56\">l <span class=\"_ _0\"></span>diritto <span class=\"_ _0\"></span>di </span>ottenere al termine dell\u2019ultimo anno di<span class=\"_ _0\"></span> vesting, l\u2019equivalente monetario o in azioni della Societ\u00e0.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>2.7.12.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Imposte correnti e differite<span class=\"_ _0\"></span> L'onere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>dell\u2019esercizio <span class=\"_ _22\"></span>comprende <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>nere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>corrente <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>l'onere <span class=\"_ _23\"></span>fiscale <span class=\"_ _22\"></span>differito. <span class=\"_ _23\"></span>Le <span class=\"_ _0\"></span>impo<span class=\"_ _0\"></span>ste sul <span class=\"_ _2e\"> </span>reddito <span class=\"_ _2e\"> </span>sono <span class=\"_ _2e\"> </span>rilevate <span class=\"_ _2e\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _2e\"> </span>economico, <span class=\"_ _2e\"> </span>fatta <span class=\"_ _2e\"> </span>eccezione <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>quelle <span class=\"_ _2e\"> </span>relative <span class=\"_ _2f\"> </span>a <span class=\"_ _8b\"> </span>operazioni <span class=\"_ _2e\"> </span>rilevate direttamente nel patrimonio netto che sono con<span class=\"_ _0\"></span>tabilizzate nello stesso.<span class=\"_ _0\"></span><span class=\"ff57\"> </span>L\u2019onere fiscale corrente rapp<span class=\"_ _0\"></span>resenta la stima dell'importo d<span class=\"_ _0\"></span>elle imposte sul reddito <span class=\"_ _0\"></span>dovu<span class=\"_ _0\"></span><span class=\"ff56\">te calcolate sul </span>reddito <span class=\"_ _22\"></span>imponibile <span class=\"_ _22\"></span>dell\u2019esercizio, <span class=\"_ _23\"></span>determinato <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>aliquote <span class=\"_ _23\"></span>fiscali <span class=\"_ _0\"></span>vigenti <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>quelle <span class=\"_ _22\"></span>sostanzialmente in <span class=\"_ _2f\"> </span>vigore <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>chiusura <span class=\"_ _2f\"> </span>dell\u2019esercizio. <span class=\"_ _2f\"> </span>Le <span class=\"_ _2e\"> </span>impo<span class=\"_ _0\"></span>ste <span class=\"_ _2f\"> </span>differite <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>stanziate <span class=\"_ _2f\"> </span>secondo <span class=\"_ _2f\"> </span>il <span class=\"_ _2f\"> </span>metodo patrimoniale, calcolando le differenze temporanee tra i valori contabili delle <span class=\"_ _29\"></span>attivit\u00e0 e delle pas<span class=\"_ _29\"></span>sivit\u00e0 iscritti in bilancio <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>corrispondenti <span class=\"_ _28\"></span>valori <span class=\"_ _28\"></span>riconosciuti <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _28\"></span>fiscali. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>stanziate <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le seguenti <span class=\"_ _49\"> </span>differenze <span class=\"_ _46\"> </span>temporanee: <span class=\"_ _49\"> </span>rilevazione <span class=\"_ _46\"> </span>iniziale <span class=\"_ _46\"> </span>di <span class=\"_ _49\"> </span>attivit\u00e0 <span class=\"_ _46\"> </span>o <span class=\"_ _49\"> </span>passivit\u00e0 <span class=\"_ _46\"> </span>in <span class=\"_ _49\"> </span>un'operazione <span class=\"_ _46\"> </span>diversa dall'aggregazione aziendale che <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n influenzi <span class=\"_ _29\"></span>n\u00e9 l'utile <span class=\"_ _29\"></span>(o perdita) <span class=\"_ _29\"></span>contabile n\u00e9 <span class=\"_ _29\"></span>il reddito <span class=\"_ _29\"></span>imponibile (o <span class=\"_ _29\"></span>perdita fiscale), <span class=\"_ _23\"></span>nonch\u00e9 <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>differenze <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>investimenti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto <span class=\"_ _23\"></span>nella misura in cui \u00e8 probabile che, nel presumibile fu<span class=\"_ _0\"></span>turo, la differenza temporanea non<span class=\"_ _0\"></span> si riverser\u00e0. <span class=\"_ _0\"></span> Le attivit\u00e0 e le passivit\u00e0 per imposte differite sono valutate utilizzando le aliquote fiscali che si prevede saranno <span class=\"_ _22\"></span>applicabili <span class=\"_ _22\"></span>nell'esercizio <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>sar\u00e0 <span class=\"_ _0\"></span>realizzata<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>l'attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>sar\u00e0 <span class=\"_ _22\"></span>estinta <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>riferiscon<span class=\"_ _0\"></span>o, sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>aliquote <span class=\"_ _22\"></span>fiscali <span class=\"_ _23\"></span>stabilite <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>provvedimenti <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>sostanzialmente <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di chiusura <span class=\"_ _29\"></span>dell\u2019esercizio. <span class=\"_ _29\"></span>Le <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0<span class=\"ff56\"> <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i<span class=\"_ _0\"></span>mposte <span class=\"_ _29\"></span>differite <span class=\"_ _29\"></span>sono <span class=\"_ _29\"></span>compensate <span class=\"_ _2b\"></span>in presenza <span class=\"_ _2b\"></span>di un <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> </span>legalmente es<span class=\"_ _0\"></span>ercitabile di <span class=\"_ _0\"></span>compensare <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti con<span class=\"_ _0\"></span> le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti <span class=\"_ _0\"></span>e se <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 e le <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>per imposte <span class=\"_ _29\"></span>differite sono <span class=\"_ _29\"></span>relative <span class=\"_ _29\"></span>a imposte <span class=\"_ _2b\"></span>sul reddito applicate dalla <span class=\"_ _29\"></span>medesima autorit\u00e0 <span class=\"_ _29\"></span>fiscale sullo stesso soggetto <span class=\"_ _29\"></span>passivo d'imposta o <span class=\"_ _29\"></span>soggetti passivi d'imposta <span class=\"_ _29\"></span>diversi che intendono reg<span class=\"_ _29\"></span>olare le passivit\u00e0 e le attivit\u00e0 fiscali correnti su base netta, o<span class=\"_ _0\"></span> realizzare le attivit\u00e0 e regolare le passivit\u00e0 con<span class=\"_ _0\"></span>tempo<span class=\"_ _0\"></span>raneamente. <span class=\"ff57\"> </span>Le <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>imposte <span class=\"_ _2b\"></span>differite <span class=\"_ _3d\"></span>sono <span class=\"_ _2b\"></span>rilevate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>misura <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>probabile <span class=\"_ _2b\"></span>che <span class=\"_ _3d\"></span>sia <span class=\"_ _2b\"></span>disponibile <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>reddito imponibile <span class=\"_ _28\"></span>futuro <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>fronte <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>stesse <span class=\"_ _28\"></span>possano <span class=\"_ _28\"></span>essere <span class=\"_ _28\"></span>utilizzate. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>imposte<span class=\"_ _0\"></span> differite <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rivisto <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _23\"></span>nella <span class=\"_ _22\"></span>misura <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _23\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>il relativo beneficio fiscale sia realizzabile.<span class=\"_ _0\"></span> 2.7.13.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Benefici ai dipendenti<span class=\"_ _0\"></span> I <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>successivi <span class=\"_ _23\"></span>al <span class=\"_ _0\"></span>rap<span class=\"_ _0\"></span>porto <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>lavo<span class=\"_ _0\"></span>ro <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>definiti <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>programmi <span class=\"_ _0\"></span>che <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>fu<span class=\"_ _0\"></span>nzio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>delle loro caratteristiche sono distinti in programmi a \u201ccontribut<span class=\"_ _0\"></span>i definiti\u201d e programmi a \u201cbenefici definiti\u201d.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Nei programmi <span class=\"_ _0\"></span>a con<span class=\"_ _0\"></span>tributi definiti <span class=\"_ _0\"></span>l\u2019obbligazione <span class=\"_ _0\"></span>dell\u2019impresa, limitata <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>versamento dei <span class=\"_ _0\"></span>contrib<span class=\"_ _0\"></span>uti a un\u2019entit\u00e0 giuridicamente distinta, <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 costituita dai contributi dovuti alla data di riferimento<span class=\"_ _0\"></span> del bilancio. <span class=\"_ _0\"></span> </span>La <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2c\"> </span>relativa <span class=\"_ _2d\"> </span>ai <span class=\"_ _28\"></span>prog<span class=\"_ _0\"></span>rammi <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>benefici <span class=\"_ _2d\"> </span>definiti, <span class=\"_ _28\"></span>come <span class=\"_ _2d\"> </span>il <span class=\"_ _28\"></span>trattamento <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>fine <span class=\"_ _2d\"> </span>rapporto <span class=\"_ _28\"></span>definito dall\u2019art. <span class=\"_ _2b\"></span>2120 <span class=\"_ _2b\"></span>C.C., <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>eventuali <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>servizio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>piano, <span class=\"_ _2b\"></span>\u00e8<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>determinata, <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>supporto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>esperti<span class=\"_ _0\"></span> </span>indipendenti, <span class=\"_ _0\"></span>sulla <span class=\"_ _0\"></span>base di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>attuariali <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rilevata <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>competenza <span class=\"_ _0\"></span>coerentemente <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>periodo <span class=\"_ _0\"></span>lavorativo necessario all\u2019ottenimento dei benefici. Gli utili e le perdite attu<span class=\"_ _0\"></span>ariali relative ai programmi a bene<span class=\"_ _0\"></span><span class=\"ff56\">fici definiti </span>derivanti <span class=\"_ _0\"></span>da variazioni <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>ipotesi attuariali <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>modifiche delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>piani sono <span class=\"_ _0\"></span>immediatamente<span class=\"_ _0\"></span> rilevati tra le componenti di conto economico comples<span class=\"_ _0\"></span>sivo.  Gli <span class=\"_ _22\"></span>ob<span class=\"_ _0\"></span>blighi <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>dipendenti <span class=\"_ _22\"></span>dovu<span class=\"_ _0\"></span>ti <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _23\"></span>spesa non appena il servizio relativo \u00e8 stato reso. Una passivit\u00e0 deve esser<span class=\"_ _0\"></span>e registrata per il pagamento anticipato se<span class=\"_ _0\"></span> il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>attualmente <span class=\"_ _22\"></span>un'o<span class=\"_ _0\"></span>bbligazione <span class=\"_ _22\"></span>legale <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fatto <span class=\"_ _23\"></span>a <span class=\"_ _0\"></span>pagare <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>importo <span class=\"_ _0\"></span>sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>lavo<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>svolto dal dipendente, ed \u00e8 possibile stimare l'obb<span class=\"_ _0\"></span>ligazione in termini affidabili.<span class=\"_ _0\"></span> L'obbligazione netta da parte <span class=\"_ _29\"></span>del Gruppo, in considerazione dei <span class=\"_ _29\"></span>benefici per <span class=\"_ _29\"></span>i dipendenti dovuti <span class=\"_ _29\"></span>a lungo termine, \u00e8 <span class=\"_ _0\"></span>costituita <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>benefici futuri <span class=\"_ _0\"></span>dovuti <span class=\"_ _0\"></span>ai dipendenti <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cambio dei <span class=\"_ _0\"></span>servizi <span class=\"_ _0\"></span>resi nell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _0\"></span>corrente e negli <span class=\"_ _2b\"></span>esercizi precedenti. <span class=\"_ _2b\"></span>Tali <span class=\"_ _2b\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _2b\"></span>sono attualizzati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>determinare <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>attuale. <span class=\"_ _2b\"></span>Le rimodulazioni di tali obbligazioni sono rilevate nel conto economico dell'esercizio in<span class=\"_ _0\"></span> cui avvengono le<span class=\"_ _0\"></span> rimodulazio<span class=\"_ _0\"></span>ni. I <span class=\"_ _2c\"></span>benefici <span class=\"_ _2c\"></span>legati <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>cessazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>rapporto <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>lavoro <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"> </span>contabilizzati <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>spese <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span>primo <span class=\"_ _2c\"></span>dei seguenti momenti: quando il Gruppo non pu\u00f2 pi\u00f9 revocare l'offerta di fornire tali benefici o quando il Gruppo registra <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>misure <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>ristrutturazione. <span class=\"_ _23\"></span>Se <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>prevedi<span class=\"_ _0\"></span>bile <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>saranno <span class=\"_ _22\"></span>compen<span class=\"_ _0\"></span>sati entro dodici mesi dalla data di chiusura d<span class=\"_ _0\"></span>el bilancio, essi vengono attualizzati.<span class=\"_ _0\"></span> Gli <span class=\"_ _22\"></span>obbl<span class=\"_ _0\"></span>ighi <span class=\"_ _22\"></span>pensionistici <span class=\"_ _23\"></span>derivanti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>piani <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>definiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>determina<span class=\"_ _0\"></span>ti <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzan<span class=\"_ _0\"></span>do <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>metodo della <span class=\"_ _2c\"></span><span class=\"ff5d\">\u201c</span>proiezione <span class=\"_ _2c\"></span>unitaria <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>credito<span class=\"ff5d\">\u201d <span class=\"_ _28\"> </span>(IAS <span class=\"_ _2d\"> </span>19)</span>. <span class=\"_ _28\"></span>I <span class=\"_ _2c\"> </span>benefici <span class=\"_ _2d\"> </span>attesi, <span class=\"_ _28\"></span>comprese <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>componenti <span class=\"_ _28\"></span>dinamiche <span class=\"_ _2c\"> </span>(ad esempio, <span class=\"_ _2a\"> </span>gli <span class=\"_ _2d\"> </span>aumenti <span class=\"_ _2d\"> </span>salar<span class=\"_ _0\"></span>iali <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estazioni <span class=\"_ _2a\"> </span>pensionistiche), <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>rilevati <span class=\"_ _2d\"> </span>lungo <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>periodo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>servizio complessivo <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rispettivo <span class=\"_ _0\"></span>dipenden<span class=\"_ _0\"></span>te. <span class=\"_ _0\"></span>L'importo <span class=\"_ _0\"></span>viene attualizzato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>esso <span class=\"_ _0\"></span>viene dedot<span class=\"_ _0\"></span>to il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>delle attivit\u00e0 a servizio del piano. Si ricorre alla con<span class=\"_ _0\"></span>sulenza attuariale. <span class=\"_ _0\"></span> Gli <span class=\"_ _2a\"> </span>utili <span class=\"_ _2a\"> </span>o <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>attuariali <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da <span class=\"_ _2d\"> </span>scostamenti <span class=\"_\"> </span>tra <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>variazioni <span class=\"_ _2a\"> </span>previste <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>realizzate <span class=\"_\"> </span>dei beneficiari del piano <span class=\"_ _29\"></span>e delle <span class=\"_ _29\"></span>ipotesi attuariali sono iscritti <span class=\"_ _29\"></span>a conto economico <span class=\"_ _29\"></span>complessivo nel periodo in <span class=\"_ _29\"></span>cui si verificano e sono indicati separatamente nel pr<span class=\"_ _0\"></span>ospetto del conto economico complessivo. <span class=\"_ _0\"></span> I <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>servizio <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>contabilizzati <span class=\"_ _0\"></span>nei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _0\"></span>person<span class=\"_ _0\"></span>ale. Anch<span class=\"_ _0\"></span>e gl<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>interessi <span class=\"_ _0\"></span>passivi <span class=\"_ _0\"></span>derivanti <span class=\"_ _0\"></span>dalla capitalizzazione <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"></span>obblighi <span class=\"_ _2c\"> </span>pensionistici <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"> </span>proventi <span class=\"_ _2d\"> </span>derivanti <span class=\"_ _2c\"></span>dalle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>servizio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>piano <span class=\"_ _2d\"> </span>sono registrati tra le spese per il personale, ut<span class=\"_ _0\"></span>ilizzando il tasso di sconto dell'obbligazio<span class=\"_ _0\"></span>ne a benefici defini<span class=\"_ _0\"></span>ti. L'eventuale <span class=\"_ _23\"></span>eccedenza <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _23\"></span>rispetto <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>rilevare <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>limitata <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>perdite <span class=\"_ _28\"></span>attuariali nette cumulate <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>contabilizzate e al <span class=\"_ _0\"></span>costo pr<span class=\"_ _0\"></span>evidenziale relativo <span class=\"_ _0\"></span>alle prestazioni di<span class=\"_ _0\"></span> lavoro passate, <span class=\"_ _0\"></span>oltre al valore <span class=\"_\"> </span>attuale <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>eventuali <span class=\"_ _8b\"> </span>rimborsi <span class=\"_ _8b\"> </span>disponibili <span class=\"_ _8b\"> </span>e <span class=\"_\"> </span>alla <span class=\"_ _8b\"> </span>riduzione <span class=\"_ _8b\"> </span>dei <span class=\"_ _8b\"> </span>contributi <span class=\"_ _8b\"> </span>futuri <span class=\"_ _8b\"> </span>al <span class=\"_\"> </span>pi<span class=\"_ _0\"></span>ano. <span class=\"_\"> </span>Il <span class=\"_\"> </span>costo<span class=\"_ _0\"></span> previdenziale relativo alle prestazioni di lavoro <span class=\"_ _0\"></span>passate \u00e8 rilevato nell'utile o nella perdita<span class=\"_ _0\"></span> <span class=\"ff5d\">d\u2019esercizio</span>. I <span class=\"_ _2d\"> </span>contributi <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>datore <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>lavoro <span class=\"_ _2d\"> </span>versati <span class=\"_ _2d\"> </span>dal <span class=\"_ _2c\"></span>Gru<span class=\"_ _0\"></span>ppo <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>un'entit\u00e0 <span class=\"_ _2c\"></span>indipenden<span class=\"_ _0\"></span>te <span class=\"_ _2d\"> </span>nell'ambito <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>a contribuzione <span class=\"_ _2b\"></span>defin<span class=\"_ _0\"></span>ita, <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>possono <span class=\"_ _2b\"></span>sorgere <span class=\"_ _2b\"></span>ul<span class=\"_ _0\"></span>teriori <span class=\"_ _2b\"></span>obbligh<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>legali <span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>impliciti <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>pagamento, <span class=\"_ _29\"></span>sono spesati nel momento<span class=\"_ _0\"></span> in cui <span class=\"_ _0\"></span>sono sostenuti, <span class=\"_ _0\"></span>non appena il <span class=\"_ _0\"></span>dipendente \u00e8 in <span class=\"_ _0\"></span>servizio. I <span class=\"_ _0\"></span>paga<span class=\"_ _22\"></span>menti anticipati sono riconosciuti <span class=\"_ _29\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>misura in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>si crea <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>diritto al <span class=\"_ _2b\"></span>rimborso <span class=\"_ _2b\"></span>o alla <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>dei pagamenti <span class=\"_ _2b\"></span>futuri.<span class=\"_ _0\"></span> 2.7.14.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Fondi rischi ed oneri I fondi <span class=\"_ _29\"></span>per rischi <span class=\"_ _2b\"></span>ed oneri sono <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>con scadenza <span class=\"_ _2b\"></span>o ammontare incerti. Tali <span class=\"_ _2b\"></span>fondi sono rilevati solo se:<span class=\"ls0\"> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">il Gruppo ha un\u2019obbligazione in corso (legale o implicita) quale ris<span class=\"_ _0\"></span>ultato di un evento passato;<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">\u00e8 probabile <span class=\"_ _0\"></span>che per <span class=\"_ _0\"></span>adempiere all\u2019obbligazione <span class=\"_ _0\"></span>si render\u00e0 <span class=\"_ _0\"></span>necessario l\u2019impiego <span class=\"_ _0\"></span>di risorse <span class=\"_ _0\"></span>atte a </span></span>produrre benefici economici; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">pu\u00f2 essere fatta <span class=\"ff5d\">una stima attendibile d<span class=\"_ _0\"></span>ell\u2019ammontare dell\u2019obbligazione.<span class=\"_ _0\"></span></span> </span></span>Gli <span class=\"_ _2b\"></span>importi accantonati <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>quindi <span class=\"_ _2b\"></span>le <span class=\"_ _29\"></span>migliori <span class=\"_ _2b\"></span>stime dell\u2019onere <span class=\"_ _2b\"></span>necessario <span class=\"_ _2b\"></span>per estinguere <span class=\"_ _2b\"></span>l\u2019obbligazione o per <span class=\"_ _2b\"></span>trasferirla a terzi <span class=\"_ _2b\"></span>alla data di <span class=\"_ _2b\"></span>riferimento del bilancio. <span class=\"_ _29\"></span>Laddove <span class=\"_ _29\"></span>l\u2019effetto del <span class=\"ff56\">valore <span class=\"_ _2b\"></span>attuale del <span class=\"_ _29\"></span>denaro \u00e8 <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> </span>aspetto rilevante, l\u2019importo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> un <span class=\"_ _29\"></span>accantonamento \u00e8 <span class=\"_ _29\"></span>rappresentato dal <span class=\"_ _29\"></span>valore attuale <span class=\"_ _29\"></span>degli oneri <span class=\"_ _29\"></span>che si <span class=\"_ _2b\"></span>suppo<span class=\"_ _0\"></span>ne saranno necessari per estinguere l\u2019obbl<span class=\"_ _0\"></span>igazione.<span class=\"ff56\"> </span>I <span class=\"_ _29\"></span>fondi <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>garanzia sono <span class=\"_ _29\"></span>accantonati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>base all'evoluzione <span class=\"_ _29\"></span>prevista della <span class=\"_ _2b\"></span>perdita. Gli <span class=\"_ _2b\"></span>accantonamenti per contratti <span class=\"_ _22\"></span>d'acquisto <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendita <span class=\"_ _22\"></span>onerosi <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>stabiliti <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ando <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>totali <span class=\"_ _0\"></span>previsti <span class=\"_ _23\"></span>superano <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>vendite attese.  Gli <span class=\"_ _2c\"></span>accantonamenti <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"></span>ristrutturazione <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>rilevati <span class=\"_ _2c\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2c\"></span>viene <span class=\"_ _2c\"> </span>stabilito <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>comunicat<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"></span>parti interessate un piano di ristrutturazione formale e detta<span class=\"_ _0\"></span>gliato.  Gli <span class=\"_ _0\"></span>accantonamenti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>contratti <span class=\"_ _0\"></span>on<span class=\"_ _0\"></span>erosi <span class=\"_ _0\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>se <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>inevitabili <span class=\"_ _22\"></span>derivanti <span class=\"_ _22\"></span>dal <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>tratto superano <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>benefici <span class=\"_ _0\"></span>previsti. <span class=\"_ _0\"></span>In <span class=\"_ _0\"></span>questo <span class=\"_ _0\"></span>caso, <span class=\"_ _0\"></span>l'accantonamento <span class=\"_ _0\"></span>viene <span class=\"_ _0\"></span>reg<span class=\"_ _22\"></span>istrato <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>minore <span class=\"_ _0\"></span>tra il costo previsto per la risoluzione del con<span class=\"_ _0\"></span>tratto e il costo netto previsto per la sua continuazione.<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>accant<span class=\"_ _0\"></span>onamenti <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ris<span class=\"_ _0\"></span>chi <span class=\"_ _22\"></span>ambientali <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>fine <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>eliminare <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>danni <span class=\"_ _0\"></span>ambientali<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>derivanti da potenziale contaminazione e le relative sp<span class=\"_ _0\"></span>ese di gestione. Passivit\u00e0 potenziali Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _28\"></span>includono <span class=\"_ _28\"></span>obbligazioni <span class=\"_ _28\"></span>potenziali, <span class=\"_ _28\"></span>derivanti <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>eventi <span class=\"_ _28\"></span>passati, <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>richiedono l'adempimento <span class=\"_\"> </span>solo <span class=\"_ _8b\"> </span>se <span class=\"_\"> </span>si <span class=\"_ _8b\"> </span>verificano <span class=\"_ _8b\"> </span>uno <span class=\"_ _8b\"> </span>o <span class=\"_\"> </span>pi\u00f9 <span class=\"_ _8b\"> </span>eventi <span class=\"_\"> </span>futu<span class=\"_ _0\"></span>ri <span class=\"_\"> </span>incerti, <span class=\"_\"> </span>che <span class=\"_\"> </span>l'i<span class=\"_ _0\"></span>m<span class=\"_ _0\"></span>presa <span class=\"_\"> </span>non <span class=\"_ _8b\"> </span>pu\u00f2 <span class=\"_ _8b\"> </span>controllare completamente. Inoltre, <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>potenziali includono obbli<span class=\"_ _29\"></span>gazioni <span class=\"_ _29\"></span>attuali <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>ricon<span class=\"_ _0\"></span>osciute <span class=\"_ _29\"></span>che <span class=\"_ _29\"></span>derivano <span class=\"_ _29\"></span>da eventi <span class=\"_ _2e\"> </span>passati <span class=\"_ _2e\"> </span>ma <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>quali <span class=\"_ _2f\"> </span>\u00e8 <span class=\"_ _8b\"> </span>improbabile <span class=\"_ _2e\"> </span>che <span class=\"_ _2e\"> </span>sia <span class=\"_ _2e\"> </span>neces<span class=\"_ _0\"></span>sario <span class=\"_ _2e\"> </span>un <span class=\"_ _2e\"> </span>esborso <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>risor<span class=\"_ _0\"></span>se <span class=\"_ _8b\"> </span>per <span class=\"_ _2f\"> </span>estinguere l'obbligazione, n<span class=\"_ _0\"></span>onch\u00e9 <span class=\"_ _0\"></span>obbligazioni <span class=\"_ _0\"></span>il cui <span class=\"_ _0\"></span>importo <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>pu\u00f2 <span class=\"_ _0\"></span>essere determinato <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>sufficiente <span class=\"_ _0\"></span>attendibilit\u00e0. <span class=\"_ _0\"></span>A meno che la possibilit\u00e0 di un esborso per l'adempimento sia remota, viene fornita una descrizione della natura della passivit\u00e0 potenziale. 2.7.15.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Dividendi I <span class=\"_ _22\"></span>dividendi <span class=\"_ _22\"></span>d<span class=\"ff5d\">a <span class=\"_ _22\"></span>distribui<span class=\"_ _0\"></span>re <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>riconosciuti <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>solo <span class=\"_ _0\"></span>nell\u2019esercizio <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>quale <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>stessi <span class=\"_ _22\"></span>sono </span>stati <span class=\"_ _2b\"></span>deliberat<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>dall\u2019<span class=\"_ _0\"></span>Assemblea <span class=\"_ _2b\"></span>degli Azionisti. <span class=\"_ _2b\"></span>I <span class=\"_ _29\"></span>dividendi <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>percepire <span class=\"_ _2b\"></span>sono rilevati <span class=\"_ _2b\"></span>soltanto <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stabilito il diritto a ricevere il pagamento. 2.7.16.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Riconoscimento dei ricavi<span class=\"_ _0\"></span> Il riconoscimento dei ricavi avviene attraverso le seg<span class=\"_ _0\"></span>uenti fasi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">identificazione del contratto (o dei contratti) co<span class=\"_ _0\"></span>n il cliente; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">individuazione delle obbligazioni di fare (o <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance oblig<span class=\"_ _0\"></span>ations\u201d</span><span class=\"ls7\">);</span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">determinazione del prezzo <span class=\"_ _29\"></span>della <span class=\"ff5d\">transazione: <span class=\"_ _29\"></span>il prezzo <span class=\"_ _29\"></span>della transazione <span class=\"_ _29\"></span>\u00e8 l\u2019importo <span class=\"_ _29\"></span>del corrispettivo <span class=\"_ _29\"></span>a </span></span></span>cui si ritiene di avere diritto in cambio del trasferimen<span class=\"_ _0\"></span>to al cliente dei servizi promessi;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">ripartizione del prezzo dell\u2019operazione tra le <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance obligations\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> del contratto; </span></span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56 ls7\">ri<span class=\"ls0\">conoscimento del ricavo nel momento del sod<span class=\"_ _0\"></span>disfacimento della <span class=\"ff5e\">\u201cp<span class=\"_ _0\"></span>erformance obligation\u201d<span class=\"_ _0\"></span></span>. </span></span></span>Specificatamente i ricavi possono essere ricono<span class=\"_ _0\"></span>sciuti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">in <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>momento <span class=\"_ _28\"></span>preciso, <span class=\"_ _28\"></span>quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>adempiuta <span class=\"_ _28\"></span>l\u2019obbligazione <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>fare <span class=\"_ _28\"></span>trasferendo <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>cliente <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>bene <span class=\"_ _23\"></span>o </span></span>servizio promesso <span class=\"ff5e\">(\u201cat a point in time\u201d<span class=\"_ _0\"></span></span>), o \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">nel <span class=\"_ _2b\"></span>corso<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del tempo, <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>che <span class=\"_ _2b\"></span>\u00e8 adempiuta <span class=\"_ _2b\"></span>l\u2019obbligazione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>fare, <span class=\"_ _29\"></span>trasferendo <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>cliente <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>bene </span></span>o servizio promesso (<span class=\"ff5e\">\u201cover time\u201d<span class=\"_ _0\"></span></span><span class=\"ls7\">).</span> I <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2a\"> </span>sono <span class=\"_ _2d\"> </span>rilevati <span class=\"_ _2a\"> </span>quando <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>dei <span class=\"_ _2d\"> </span>prodotti <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2a\"> </span>trasferito <span class=\"_ _2d\"> </span>all'acquirent<span class=\"_ _0\"></span>e. <span class=\"_ _2a\"> </span>Ci\u00f2 <span class=\"_ _2d\"> </span>avviene solitamente <span class=\"_ _23\"></span>quando, <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>consegna, <span class=\"_ _28\"></span>l'acquirente <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>fisicamente <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>prodotti <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>li <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>accettati, <span class=\"_ _28\"></span>e anche i rischi e i benefici significativi della propriet\u00e0 dei beni son<span class=\"_ _0\"></span>o stati trasferiti all'acquirente.<span class=\"_ _0\"></span> La <span class=\"_ _23\"></span>maggior <span class=\"_ _23\"></span>parte <span class=\"_ _23\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>Gruppo <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>costituta <span class=\"_ _23\"></span>da <span class=\"_ _28\"></span>vendite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>beni <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>pertanto <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>realizzata <span class=\"_ _28\"></span>su <span class=\"_ _23\"></span>base puntuale, <span class=\"_ _2c\"> </span>in <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2c\"></span>l'obbligo <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>prestazione <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _2d\"> </span>soddisfatto <span class=\"_ _28\"></span>al <span class=\"_ _2d\"> </span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2d\"> </span>consegna. <span class=\"_ _2c\"></span>Non <span class=\"_ _2c\"></span>esistono<span class=\"_ _0\"></span> garanzie che vadano oltre la garanzia legale.<span class=\"_ _0\"></span> Un <span class=\"_ _2b\"></span>credito <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevato <span class=\"_ _2b\"></span>non<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>appena <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>diritto <span class=\"_ _2b\"></span>incondizionato <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>corrispettivo. <span class=\"_ _2b\"></span>Al <span class=\"_ _2b\"></span>momento dell'adempimento dell'obbligazione <span class=\"_ _2b\"></span>di pre<span class=\"_ _29\"></span>stazione <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>consegna, il <span class=\"_ _2b\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _29\"></span>matura <span class=\"_ _2b\"></span>un diritto <span class=\"_ _2b\"></span>incondizionato<span class=\"_ _0\"></span> al corrispettivo. Le componenti finanziarie significative non <span class=\"_ _0\"></span>sono incluse nei contratti con<span class=\"_ _0\"></span> i clienti.  Se <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>contratti <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>clienti <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>previsti <span class=\"_ _2b\"></span>sconti <span class=\"_ _2b\"></span>sui <span class=\"_ _29\"></span>volumi, <span class=\"_ _2b\"></span>solitamente <span class=\"_ _29\"></span>concordati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>volumi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>vendita su <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>periodo <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dodici <span class=\"_ _23\"></span>mesi, <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>inclusi <span class=\"_ _23\"></span>nella <span class=\"_ _23\"></span>determinazio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>corrispettivo. <span class=\"_ _23\"></span>La <span class=\"_ _28\"></span>rilevazione <span class=\"_ _23\"></span>dei ric<span class=\"ls0\">avi <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>questi <span class=\"_ _29\"></span>casi <span class=\"_ _2b\"></span>si basa <span class=\"_ _2b\"></span>sui prezzi <span class=\"_ _2b\"></span>specificati nei <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>tratti al <span class=\"_ _2b\"></span>netto <span class=\"_ _29\"></span>degli <span class=\"_ _29\"></span>sconti <span class=\"_ _2b\"></span>sul volume <span class=\"_ _29\"></span>stimati. <span class=\"_ _2b\"></span>Gli sconti </span>sui <span class=\"_ _22\"></span>volumi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>calcolati <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>dell'importo <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>probabile. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>ricavi <span class=\"_ _22\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _23\"></span>solo <span class=\"_ _22\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>altamente probabile che non vi siano sto<span class=\"_ _0\"></span>rni significativi. I <span class=\"_ _23\"></span>redditi <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>locazione <span class=\"_ _23\"></span>degli <span class=\"_ _23\"></span>investimenti <span class=\"_ _22\"></span>immobiliari <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _22\"></span>altri <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>modo <span class=\"_ _23\"></span>lineare sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>rapporto <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>locazione. <span class=\"_ _22\"></span>I <span class=\"_ _22\"></span>canoni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>locazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _22\"></span>come altri proventi. Gli interessi <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>vengono maturati <span class=\"_ _0\"></span>su base <span class=\"_ _0\"></span>temporale <span class=\"_ _0\"></span>con riferimento <span class=\"_ _0\"></span>all'importo <span class=\"_ _0\"></span>principale e <span class=\"_ _0\"></span>al tasso<span class=\"_ _0\"></span> di interesse effettivo.  Come <span class=\"_ _28\"></span>menzionato <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>paragrafo <span class=\"_ _28\"></span>precedente, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>proventi <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>dividendi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>a ricevere il pagamento \u00e8 stato <span class=\"_ _0\"></span>legalmente stabilito. 2.7.17.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri e proventi finanzia<span class=\"_ _0\"></span>ri Gli oneri e proventi finanziari sono rilevati a conto <span class=\"_ _0\"></span>economico in base al principio della maturazione.<span class=\"_ _0\"></span> Se la <span class=\"_ _2b\"></span>produzio<span class=\"_ _0\"></span>ne di <span class=\"_ _2b\"></span>attivit\u00e0 immateriali <span class=\"_ _29\"></span>qualificate o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> attivit\u00e0 <span class=\"_ _2b\"></span>materiali si protrae <span class=\"_ _2b\"></span>per un lungo <span class=\"_ _29\"></span>periodo, gli <span class=\"_ _2b\"></span>oneri <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>verificano <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>questo <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>fino al <span class=\"_ _2b\"></span>completamento <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>rilevati <span class=\"_ _2b\"></span>come <span class=\"_ _29\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>costi di <span class=\"_ _22\"></span>produzione <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _0\"></span>IAS <span class=\"_ _23\"></span>23. <span class=\"_ _22\"></span>Alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _23\"></span>non <span class=\"_ _0\"></span>vi <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>applicazione all'interno del Gruppo. Gli <span class=\"_ _0\"></span>oneri <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>fino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>destinati <span class=\"_ _0\"></span>all'uso <span class=\"_ _0\"></span>previsto <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>essere registrati <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>ammortizzati <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>alla <span class=\"_ _2d\"> </span>loro <span class=\"_ _2d\"> </span>vita <span class=\"_ _2c\"> </span>utile <span class=\"_ _2d\"> </span>prevista. <span class=\"_ _2d\"> </span>Tutti <span class=\"_ _2c\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>altri <span class=\"_ _2c\"></span>oneri <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>correnti <span class=\"_ _2c\"> </span>sono registrati nel periodo in cui si verificano<span class=\"_ _0\"></span> nel conto economico tra le spese finanziarie.<span class=\"_ _0\"></span> 2.7.18.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Utile (perdita) per azione<span class=\"_ _0\"></span> Per <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _29\"></span>(perdita) <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>e diluita <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>azione ordinaria <span class=\"_ _2b\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>stati <span class=\"_ _29\"></span>impiegati <span class=\"_ _2b\"></span>i seguenti <span class=\"_ _29\"></span>criteri:<span class=\"ff56\"> </span>a) <span class=\"_ _97\"> </span>al <span class=\"_ _2d\"> </span>numeratore <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>utilizzato <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>risultato <span class=\"_ _2d\"> </span>economico <span class=\"_ _2d\"> </span><span class=\"ff5d\">attribuibi<span class=\"_ _0\"></span>le <span class=\"_ _2d\"> </span>all\u2019entit\u00e0 <span class=\"_ _2d\"> </span>Capogruppo <span class=\"_ _2a\"> </span>rettificato <span class=\"_ _2d\"> </span>del </span>risultato che <span class=\"_ _29\"></span>deve ess<span class=\"_ _29\"></span>ere attribuito, <span class=\"_ _29\"></span>per l\u2019anno <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>corso, alle <span class=\"_ _29\"></span>azioni di <span class=\"_ _2b\"></span>risparmio in circolazione <span class=\"_ _29\"></span>al netto delle azioni proprie di risparmio detenute direttamente o <span class=\"_ _0\"></span>tramite controllate;<span class=\"_ _0\"></span> b)<span class=\"ff58 ls0\"> <span class=\"_ _8e\"> </span><span class=\"ff56\">al denomin<span class=\"_ _0\"></span>atore <span class=\"_ _0\"></span>d<span class=\"ff5d\">ell\u2019indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>azion<span class=\"_ _0\"></span>e\u201d <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>applicata <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>media <span class=\"_ _0\"></span>ponderata <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>in </span></span></span>circolazione nell\u2019esercizio al netto delle azioni p<span class=\"_ _0\"></span>roprie;<span class=\"ff56\"> </span>c)<span class=\"ff58 ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5d\">al <span class=\"_ _22\"></span>denominatore <span class=\"_ _0\"></span>dell\u2019<span class=\"_ _0\"></span>indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _22\"></span>diluito <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>azione\u201d <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>ponderata <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>ordinarie <span class=\"_ _22\"></span>\u00e8 </span></span>rettific<span class=\"ff5d\">ata ipotizzando l\u2019emissione di nuove azioni ord<span class=\"_ _0\"></span>inarie in seguito:<span class=\"_ _0\"></span></span> i)<span class=\"ff58 ls0\"> <span class=\"_ _86\"> </span><span class=\"ff56\">alla conversione di tutti i <span class=\"ff5a\">warrant</span> eventualmente in circolazion<span class=\"_ _0\"></span>e; </span></span>ii)<span class=\"ff58 ls0\"> <span class=\"_ _3b\"> </span><span class=\"ff5d\">all\u2019esercizio di tutte le <span class=\"ff5a\">stock optio<span class=\"_ _0\"></span>n<span class=\"ff56\"> eventualmente assegnate. </span></span></span></span>In detto <span class=\"_ _29\"></span>calcolo si <span class=\"_ _29\"></span>ipotizza che <span class=\"_ _2b\"></span>le conversioni dei <span class=\"ff5a\">warrant <span class=\"ff5d\">e <span class=\"_ _29\"></span>l\u2019esercizio delle <span class=\"_ _29\"></span><span class=\"ff5a\">stock option <span class=\"_ _29\"></span><span class=\"ff56\">siano avvenuti </span></span></span></span>all\u2019inizio dell\u2019esercizio e che non<span class=\"_ _0\"></span> vi siano maggiori proventi o minori oneri derivanti da questi accadimenti.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Il calcolo <span class=\"_ _2b\"></span>al 31 dicembre <span class=\"_ _2b\"></span>2<span class=\"_ _0\"></span>022 <span class=\"ff5d\">dell\u2019utile <span class=\"_ _29\"></span>base <span class=\"_ _29\"></span>per azione <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>stato effettuato <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>siderando il <span class=\"_ _29\"></span>ris<span class=\"ff56\">ultato netto </span></span>di Gruppo <span class=\"_ _29\"></span>al netto <span class=\"_ _2b\"></span>della quota spettante alle <span class=\"_ _2b\"></span>azioni di risparmio, <span class=\"_ _29\"></span>attribuibile ai <span class=\"_ _29\"></span>possessori di <span class=\"_ _29\"></span>azioni ordinarie <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span> circolazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>nu<span class=\"_ _0\"></span>mero <span class=\"_ _23\"></span>medio <span class=\"_ _23\"></span>ponderato <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>azioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>circolazione <span class=\"_ _28\"></span>pari <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>375.974.209 <span class=\"_ _23\"></span>tenendo <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>delle eventuali <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erazioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>frazionamento <span class=\"_ _2c\"></span>e/o <span class=\"_ _2d\"> </span>raggruppamento <span class=\"_ _2c\"></span>e <span class=\"_ _2c\"> </span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2c\"></span>eventuali <span class=\"_ _2d\"> </span>aumenti/riduzioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>capitale sociale ai sensi dello IAS 33 par. 64.  2.7.19.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Conversione delle poste in va<span class=\"_ _0\"></span>luta estera La <span class=\"_ _2d\"> </span>moneta <span class=\"_ _2d\"> </span>funzionale <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>l\u2019Euro, <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>valuta <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>cui <span class=\"_ _2d\"> </span>viene <span class=\"_ _2d\"> </span>predis<span class=\"ff56\">posto <span class=\"_ _2d\"> </span>e </span>pubblicato <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>bilancio. <span class=\"_ _22\"></span>Le <span class=\"_ _22\"></span>transazioni <span class=\"_ _22\"></span>effettuate <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>uta <span class=\"_ _22\"></span>estera <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevate <span class=\"_ _22\"></span>inizialmen<span class=\"_ _0\"></span>te <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>cambio alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>dell\u2019operazione. <span class=\"_ _22\"></span>Alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _0\"></span>monetarie <span class=\"_ _22\"></span>denominate <span class=\"_ _22\"></span>in valuta <span class=\"_ _0\"></span>estera son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>convertite <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>di cambio <span class=\"_ _0\"></span>vi<span class=\"_ _0\"></span>gente a <span class=\"_ _0\"></span>tale <span class=\"_ _0\"></span>data. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partite <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>monetarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo storico <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _0\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>convertite <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cambio <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>vigore <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>dell\u2019<span class=\"_ _0\"></span>operazione. <span class=\"_ _22\"></span>Le<span class=\"_ _0\"></span> partite <span class=\"_\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_\"> </span>monetarie <span class=\"_ _8b\"> </span>is<span class=\"_ _0\"></span>critte <span class=\"_\"> </span>al <span class=\"_ _2e\"> </span>fair <span class=\"_\"> </span>valu<span class=\"_ _0\"></span>e <span class=\"_\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_\"> </span>con<span class=\"_ _0\"></span>vertite <span class=\"_ _2e\"> </span>utilizzando <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span>tasso <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>cambio <span class=\"_ _8b\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_\"> </span>di determinazione del valore di bilancio<span class=\"_ _0\"></span>. Le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>denominate <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>ta <span class=\"_ _23\"></span>estera <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>convertite <span class=\"_ _23\"></span>utilizzando <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>momento dell'operazione. <span class=\"_ _23\"></span>Il <span class=\"_ _22\"></span>momento <span class=\"_ _23\"></span>dell'operazione <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>determi<span class=\"_ _0\"></span>nazione <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>utilizzare <span class=\"_ _22\"></span>al<span class=\"_ _0\"></span> momento della <span class=\"_ _29\"></span>rilevazione iniziale <span class=\"_ _29\"></span>della relativa <span class=\"_ _29\"></span>attivit\u00e0, costo <span class=\"_ _29\"></span>o ricavo <span class=\"_ _29\"></span>(o parte <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>esso) \u00e8 <span class=\"_ _2b\"></span>la data in cui <span class=\"_ _29\"></span>l'entit\u00e0 rileva inizialmente <span class=\"_ _2b\"></span>l'attivit\u00e0 non moneta<span class=\"_ _29\"></span>ria o <span class=\"_ _2b\"></span>la passivit\u00e0 <span class=\"_ _29\"></span>non monetaria <span class=\"_ _2b\"></span>derivante dal pagamento o <span class=\"_ _2b\"></span>dall'incasso<span class=\"_ _0\"></span> di <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>anticipato. <span class=\"_ _22\"></span>Di <span class=\"_ _23\"></span>conseguenza, <span class=\"_ _23\"></span>tali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>monetarie <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertite <span class=\"_ _22\"></span>al tasso di cambio di una successiva data di b<span class=\"_ _0\"></span>ilancio. Nel caso di anticipi ricevuti per la vendita <span class=\"_ _29\"></span>di beni, questa transazione viene registrata per la prima volta come pa<span class=\"_ _0\"></span>ssivit\u00e0 <span class=\"_ _0\"></span>contrattuale <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>ven<span class=\"_ _0\"></span>gono <span class=\"_ _0\"></span>ricevuti <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>anticipi. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cambio <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>l'impo<span class=\"_ _0\"></span>rto della <span class=\"_ _2d\"> </span>successiva <span class=\"_ _2d\"> </span>rilevazione <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>l'ammont<span class=\"_ _0\"></span>are <span class=\"_ _2d\"> </span>dell'anticipo <span class=\"_ _2d\"> </span>ricevuto <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>quindi <span class=\"_ _2c\"></span>gi\u00e0 <span class=\"_ _2d\"> </span>determinato <span class=\"_ _2d\"> </span>al momento della rilevazione della passivit\u00e0 contrattuale.<span class=\"_ _0\"></span> Le voci <span class=\"_ _2b\"></span>monetarie (compresi i <span class=\"_ _29\"></span>crediti <span class=\"_ _29\"></span>e i <span class=\"_ _2b\"></span>debiti commerciali) sono <span class=\"_ _29\"></span>convertite al <span class=\"_ _2b\"></span>tasso di cambio <span class=\"_ _2b\"></span>corrente<span class=\"_ _0\"></span> alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>bilancio.<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>In<span class=\"_ _0\"></span>dipendentemente <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>eventuali <span class=\"_ _28\"></span>coperture <span class=\"_ _28\"></span>valutarie, <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>uti<span class=\"_ _22\"></span>li <span class=\"_ _23\"></span>o <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>perdite derivanti <span class=\"_ _29\"></span>dalla <span class=\"_ _2b\"></span>rimisura<span class=\"_ _0\"></span>zione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 monetarie <span class=\"_ _2b\"></span>(esclusa la <span class=\"_ _2b\"></span>conversione in <span class=\"_ _2b\"></span>valuta <span class=\"_ _29\"></span>estera <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>gli <span class=\"_ _29\"></span>investimenti netti) e delle passivit\u00e0 monetarie sono rilevati nel con<span class=\"_ _0\"></span>to economico come proventi o o<span class=\"_ _0\"></span>neri finanziari.<span class=\"_ _0\"></span> Applicando <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>concetto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valuta <span class=\"_ _23\"></span>funzionale, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>bilanci <span class=\"_ _23\"></span>annuali <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>estere <span class=\"_ _23\"></span>redatti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>valuta estera sono convertiti in euro utilizzando il metod<span class=\"_ _0\"></span>o del tasso di chiusura modificato.<span class=\"_ _0\"></span> La <span class=\"_ _2c\"></span>valuta <span class=\"_ _2c\"></span>funzionale <span class=\"_ _2c\"> </span>\u00e8 <span class=\"_ _2d\"> </span>determinata <span class=\"_ _28\"></span>dall'ambient<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>economico <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>imario <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>cui <span class=\"_ _2c\"> </span>l'entit\u00e0 <span class=\"_ _2c\"> </span>o<span class=\"_ _22\"></span>pera. <span class=\"_ _2c\"></span>Tutte <span class=\"_ _2c\"></span>le controllate <span class=\"_ _2b\"></span>svolgono <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>propria <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>modo <span class=\"_ _2b\"></span>indipendente <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>rispettivi <span class=\"_ _2b\"></span>mercati <span class=\"_ _2b\"></span>nazionali.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Pertanto, <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valuta funzionale di <span class=\"_ _0\"></span>tali entit\u00e0 <span class=\"_ _0\"></span>\u00e8 la <span class=\"_ _0\"></span>valuta lo<span class=\"_ _0\"></span>cale. Le attiv<span class=\"_ _0\"></span>it\u00e0 e le <span class=\"_ _0\"></span>passivit\u00e0 delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>convertite al tasso <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> cambio di <span class=\"_ _29\"></span>chiusura alla <span class=\"_ _2b\"></span>data di chiusura <span class=\"_ _29\"></span>del bilancio, <span class=\"_ _2b\"></span>mentre i ricavi <span class=\"_ _29\"></span>e i <span class=\"_ _2b\"></span>costi sono convertiti <span class=\"_ _29\"></span>al tasso <span class=\"_ _2b\"></span>di cambio medio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riferimento. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenze <span class=\"_ _2b\"></span>derivanti <span class=\"_ _2b\"></span>da <span class=\"_ _2b\"></span>tali <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>versioni <span class=\"_ _2b\"></span>applicate <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>attivit\u00e0, <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>passiv<span class=\"_ _0\"></span>it\u00e0 e <span class=\"_\"> </span>alle <span class=\"_ _8b\"> </span>compo<span class=\"_ _0\"></span>nenti <span class=\"_\"> </span>dell'utile<span class=\"_ _0\"></span> <span class=\"_ _8b\"> </span>netto <span class=\"_ _8b\"> </span>sono <span class=\"_ _8b\"> </span>riportate <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _8b\"> </span>nel <span class=\"_ _2e\"> </span>conto <span class=\"_ _8b\"> </span>economico <span class=\"_ _8b\"> </span>complessivo<span class=\"_ _0\"></span> <span class=\"_\"> </span><span class=\"ls3\">e <span class=\"_ _2e\"> </span></span>di conseguenza <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>hanno <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>impatto <span class=\"_ _22\"></span>sull'utile <span class=\"_ _0\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019esercizio<span class=\"_ _0\"></span></span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _22\"></span>differenze <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>rilevate <span class=\"_ _0\"></span>nell'utile <span class=\"_ _0\"></span>netto al momento della realizzazione<span class=\"_ _0\"></span>. 2.7.20.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Contributi pubblici I contributi pubblici sono <span class=\"_ _29\"></span>riconosciuti solo <span class=\"_ _29\"></span>se \u00e8 <span class=\"_ _29\"></span>ragionevolmente certo che siano rispettate le <span class=\"_ _29\"></span>condizioni e che i contributi s<span class=\"ls9\">ia<span class=\"ls1\">no </span></span>effettivamente ricevuti. I cont<span class=\"_ _0\"></span>ributi sono rilevati nell'utile netto nello stesso periodo in cui vengono rilevati i rispettivi costi<span class=\"_ _0\"></span>.  I <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>tributi <span class=\"_ _23\"></span>pubblici <span class=\"_ _22\"></span>relativi <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>attivit\u00e0, <span class=\"_ _22\"></span>principalmente <span class=\"_ _23\"></span>immobili, <span class=\"_ _23\"></span>impianti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>macchinari, <span class=\"_ _22\"></span>so<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>dedotti dal costo dell'attivit\u00e0. Le sovvenzioni <span class=\"_ _0\"></span>che diventano <span class=\"_ _0\"></span>esigibili a titolo <span class=\"_ _0\"></span>di compensazione <span class=\"_ _0\"></span>di spese <span class=\"_ _0\"></span>o perdite gi\u00e0 <span class=\"_ _0\"></span>sostenute o <span class=\"_ _0\"></span>allo scopo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _0\"></span>un <span class=\"_ _22\"></span>sostegno <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziario <span class=\"_ _0\"></span>immediato <span class=\"_ _22\"></span>senza <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>futuri <span class=\"_ _0\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>contabilizzate <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>proventi operativi nel periodo in cui diventano esigibili per <span class=\"_ _0\"></span>il Gruppo<span class=\"_ _0\"></span>. 2.8.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Uso delle stime La <span class=\"_ _22\"></span>redazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>bilancio <span class=\"_ _22\"></span>consolidato<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>relative <span class=\"_ _22\"></span>note <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>applicazione <span class=\"_ _23\"></span>agli <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>richiede<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>parte degli <span class=\"_ _28\"> </span>Amministratori <span class=\"_ _2c\"> </span>l\u2019effettuazione <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>stime <span class=\"_ _28\"></span>e <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>assunzioni <span class=\"_ _28\"> </span>che <span class=\"_ _2c\"> </span>influenzino <span class=\"_ _2c\"> </span>i <span class=\"_ _28\"> </span>valo<span class=\"_ _0\"></span>ri <span class=\"_ _28\"></span>delle <span class=\"_ _2c\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>dell<span class=\"_ _0\"></span>e passivit\u00e0 di bilancio.  Le stime<span class=\"_ _29\"></span> sono <span class=\"_ _2b\"></span>state utilizzate <span class=\"_ _29\"></span>principalmente per <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>determinazione<span class=\"_ _0\"></span> delle <span class=\"_ _2b\"></span>perdite di valore, <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> </span></span>delle <span class=\"_ _3b\"> </span>partecipazioni <span class=\"_ _3b\"> </span>valutate <span class=\"_ _3b\"> </span>al <span class=\"_ _3b\"> </span><span class=\"ff5a\">fair <span class=\"_ _3b\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _3b\"> </span>e <span class=\"_ _3b\"> </span>degli <span class=\"_ _3b\"> </span>investimenti <span class=\"_ _3b\"> </span>immobiliari, <span class=\"_ _3b\"> </span>delle <span class=\"_ _3b\"> </span>vite <span class=\"_ _3b\"> </span>utili <span class=\"_ _3b\"> </span>delle immobilizzazioni <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>relativo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5d\">(incluso <span class=\"_ _22\"></span>l\u2019avviamento <span class=\"_ _22\"></span>iscritto)<span class=\"_ _0\"></span></span>, <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>accantonamenti <span class=\"_ _22\"></span>per rischi <span class=\"_ _23\"></span>su <span class=\"_ _22\"></span>cred<span class=\"_ _0\"></span>iti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>scorte, <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valore, <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>connessi <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>dipendenti, della stima del carico di imposta corrente e differito e d<span class=\"_ _0\"></span>egli accantonamenti e fondi.<span class=\"_ _0\"></span>  C<span class=\"ff5d\">on <span class=\"_ _23\"></span>riferimento <span class=\"_ _28\"></span>all\u2019Avviamento, <span class=\"_ _23\"></span>i<span class=\"_ _0\"></span></span>l <span class=\"_ _23\"></span>valore <span class=\"_ _28\"></span>recuperabile <span class=\"_ _23\"></span>viene <span class=\"_ _28\"></span>generalmente <span class=\"_ _28\"></span>determinato <span class=\"_ _23\"></span>utilizzando <span class=\"_ _28\"></span><span class=\"ls9\">i </span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _0\"></span>(attualizzati)<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>dipendono <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>larga <span class=\"_ _22\"></span>misura <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>futura <span class=\"_ _22\"></span>attesa <span class=\"_ _23\"></span>(margini <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>profitto lordo <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>fatturato) <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>tengono <span class=\"_ _29\"></span>altres\u00ec <span class=\"_ _2b\"></span>conto <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>economico <span class=\"_ _2b\"></span>gen<span class=\"_ _0\"></span>erale <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>tassi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>futu<span class=\"_ _0\"></span>ri (tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto). <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto, <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>basano <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">Capital <span class=\"_ _23\"></span>Asset <span class=\"_ _22\"></span>Pricing <span class=\"_ _23\"></span>Model</span>, <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>calcolati <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>ba<span class=\"_ _0\"></span>se delle seguenti componenti: tasso di rendimento privo di rischio, fatt<span class=\"_ _29\"></span>ore Beta e rendimento del <span class=\"_ _29\"></span>capitale proprio (che include ipotesi sulla leva finanziari<span class=\"_ _0\"></span>a e sul premio per il rischio di mercato<span class=\"_ _0\"></span>). Le <span class=\"_ _2b\"></span>rimanenze <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>magazzino, <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>valutate <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>minore <span class=\"_ _2b\"></span>tra <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>costo <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>netto <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>realizzo. <span class=\"_ _2b\"></span>Per <span class=\"_ _2b\"></span>calcolare il valore netto di realizzo, vengono <span class=\"_ _0\"></span>stima<span class=\"ls9\">ti</span> i prezzi di vendita e i costi di<span class=\"_ _0\"></span> vendita. Il Gruppo, in <span class=\"_ _29\"></span>particolar modo mediante <span class=\"_ _2b\"></span>KME SE, opera in diversi <span class=\"_ _29\"></span>Paesi. Pertanto, il <span class=\"_ _29\"></span>reddito del<span class=\"_ _29\"></span> Gruppo \u00e8 <span class=\"_ _23\"></span>soggetto <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>diverse <span class=\"_ _23\"></span>giurisdizioni <span class=\"_ _22\"></span>fiscali; <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _23\"></span>imponibile, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fiscali, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>fisc<span class=\"_ _0\"></span>ali, <span class=\"_ _23\"></span>le differenze temporanee, le<span class=\"_ _0\"></span> perdite <span class=\"_ _0\"></span>fiscali e le <span class=\"_ _0\"></span>conseguenti imposte <span class=\"_ _0\"></span>differite sono <span class=\"_ _0\"></span>calcolate individualmente per<span class=\"_ _0\"></span> ciascuna <span class=\"_ _28\"></span>entit\u00e0. <span class=\"_ _2c\"></span>Tali <span class=\"_ _28\"></span>po<span class=\"_ _0\"></span>ste <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"></span>soggette <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>stima; <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>particolare, <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _2c\"></span>attive <span class=\"_ _2c\"></span>possono <span class=\"_ _2c\"></span>essere iscritte solo nella <span class=\"_ _0\"></span>misura in<span class=\"_ _0\"></span> cui sia <span class=\"_ _0\"></span>probabile il <span class=\"_ _0\"></span>loro effettivo realizzo<span class=\"_ _0\"></span> e la realizza<span class=\"_ _0\"></span>zione delle i<span class=\"_ _0\"></span>mposte differite dipende <span class=\"_ _23\"></span>quindi <span class=\"_ _28\"></span>dall'esistenza <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sufficie<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>utili <span class=\"_ _28\"></span>imponibili <span class=\"_ _23\"></span>futuri. <span class=\"_ _23\"></span>Nel <span class=\"_ _28\"></span>valutare <span class=\"_ _23\"></span>l'esistenza <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>sufficienti <span class=\"_ _23\"></span>ut<span class=\"_ _0\"></span>ili imponibili <span class=\"_ _22\"></span>futuri, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>considerati, <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>g<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>fatto<span class=\"_ _0\"></span>ri, <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>utili <span class=\"_ _22\"></span>storici, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>bilanci, <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>limitazion<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>riporto <span class=\"_ _22\"></span>delle perdite e <span class=\"_ _2b\"></span>le strategie di <span class=\"_ _2b\"></span>pianificazione fiscale. <span class=\"_ _29\"></span>A ogni <span class=\"_ _2b\"></span>data di chiusura <span class=\"_ _2b\"></span>del bilancio, la <span class=\"_ _2b\"></span>rilevazione delle imposte differite viene nuovamente sottoposta a valutazion<span class=\"_ _0\"></span>e. I <span class=\"_ _22\"></span>fondi <span class=\"_ _22\"></span>pen<span class=\"_ _0\"></span>sione <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>contabilizzati <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>metodi <span class=\"_ _23\"></span>attuariali. <span class=\"_ _0\"></span>Le <span class=\"_ _23\"></span>ipotesi <span class=\"_ _22\"></span>attuariali <span class=\"_ _22\"></span>comprendono <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>tassi <span class=\"_ _22\"></span>di sconto, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>mortalit\u00e0 <span class=\"_ _23\"></span>e, <span class=\"_ _22\"></span>laddove <span class=\"_ _23\"></span>valutati <span class=\"_ _22\"></span>applicabili<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rendimenti <span class=\"_ _23\"></span>attesi <span class=\"_ _22\"></span>sulle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>piano. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>valori effettivi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>tali <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>differire <span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ificativamente <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>previsti <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>causa <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>variazioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. Pertanto, gli scostamenti rispetto alle <span class=\"_ _29\"></span>previsioni possono avere <span class=\"_ _29\"></span>un impatto significativo sulle <span class=\"_ _29\"></span>passivit\u00e0 relative ai benefici ai dipendenti.  Inoltre, gli <span class=\"_ _29\"></span>accantonamenti iscritti <span class=\"_ _29\"></span>a bilancio <span class=\"_ _29\"></span>comprendono la <span class=\"_ _29\"></span>valutazione dei <span class=\"_ _29\"></span>fatti e <span class=\"_ _2b\"></span>delle circostanze, le richieste <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>risarcimento <span class=\"_ _2a\"> </span>sollevate <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>stime <span class=\"_ _2a\"> </span>della <span class=\"_ _2d\"> </span>gamma <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>potenziali <span class=\"_ _2a\"> </span>importi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>liquidazione <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>della probabilit\u00e0 di accadimento. Alcuni <span class=\"_ _0\"></span>principi <span class=\"_ _0\"></span>contabili <span class=\"_ _0\"></span>adottati <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>richiedono<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>per le <span class=\"_ _0\"></span>attivit\u00e0 e <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>finanziarie. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinare <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>fair <span class=\"_ _22\"></span>value <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>e non <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _2c\"></span>utilizza, <span class=\"_ _2c\"></span>ove <span class=\"_ _28\"></span>possibile, <span class=\"_ _2c\"></span>input <span class=\"_ _28\"></span>osservab<span class=\"_ _0\"></span>ili <span class=\"_ _28\"></span>sul <span class=\"_ _2c\"></span>mercato. <span class=\"_ _2c\"></span>In <span class=\"_ _28\"></span>bas<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fattori <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>input utilizzati <span class=\"_ _29\"></span>nelle <span class=\"_ _29\"></span>tecniche <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>valutazione, <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>classifi<span class=\"_ _0\"></span>cato <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>diversi <span class=\"_ _29\"></span>livelli <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>gerarchia <span class=\"_ _2b\"></span>del fair <span class=\"_ _29\"></span>value. </span></span>\u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 1: prezzi quotati (non rettificati) in mercati attivi<span class=\"_ _0\"></span>; </span></span>\u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello <span class=\"_ _0\"></span>2: <span class=\"_ _22\"></span>parametri <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>quotati <span class=\"_ _22\"></span>considerati <span class=\"_ _0\"></span>nel <span class=\"_ _22\"></span>Livello <span class=\"_ _22\"></span>1, <span class=\"_ _0\"></span>ma <span class=\"_ _22\"></span>che </span></span>tuttavia richiedo<span class=\"_ _0\"></span>no di<span class=\"_ _0\"></span> essere <span class=\"_ _0\"></span>osservati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o de<span class=\"_ _0\"></span>biti <span class=\"_ _0\"></span>simili, direttamen<span class=\"_ _0\"></span>te (cio\u00e8 <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span>prezzi) <span class=\"_ _0\"></span>o indirettamente (cio\u00e8 derivati dai prezz<span class=\"ls9\">i);</span> \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 3: parametri di valutazione di attivit\u00e0 o debiti n<span class=\"_ _0\"></span>on basati su input di mercato osservabili.<span class=\"_ _0\"></span> </span></span>Le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>iscritte <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Bilancio <span class=\"_ _23\"></span>Consolidato<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>basate <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>storico, <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>eccezione degli strumenti <span class=\"_ _2b\"></span>finanziari derivati, <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>partecipazioni <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>altre <span class=\"_ _2b\"></span>imprese, dei <span class=\"ff5d\">\u201c</span>corrispettivi <span class=\"_ _2b\"></span>potenziali<span class=\"ff5d\">\u201d (</span>IFRS <span class=\"_ _29\"></span>3), degli <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span>vestimenti <span class=\"_ _28\"></span>immobiliari <span class=\"_ _2c\"></span>che <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>valutati <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span><span class=\"lsb\">, <span class=\"_ _2c\"></span></span><span class=\"ff5d\">degli <span class=\"_ _2c\"> </span>oneri <span class=\"_ _2c\"> </span>attuariali <span class=\"_ _28\"></span>derivanti <span class=\"_ _2c\"> </span>dall\u2019IFRS <span class=\"_ _2c\"> </span>2,<span class=\"_ _0\"></span> </span>nonch\u00e9 <span class=\"_ _2e\"> </span>dell'indebitamento <span class=\"_ _2e\"> </span>netto <span class=\"_ _8b\"> </span>derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>piani <span class=\"_ _8b\"> </span>a <span class=\"_ _2e\"> </span>benefici <span class=\"_ _2e\"> </span>definiti <span class=\"_ _2e\"> </span>che <span class=\"_ _8b\"> </span>\u00e8 <span class=\"_ _2e\"> </span>valutato <span class=\"_ _2e\"> </span>al <span class=\"_ _8b\"> </span>valore <span class=\"_ _2e\"> </span>attuale dell'obbligazione a benefici defini<span class=\"_ _0\"></span>ti meno il <span class=\"ff5a\">fair value</span> delle attivit\u00e0 a servizio<span class=\"_ _0\"></span> del piano. Le stime <span class=\"_ _2b\"></span>ed assunzioni sono riviste periodicam<span class=\"_ _29\"></span>ente ed eventuali <span class=\"_ _29\"></span>effetti saranno <span class=\"_ _29\"></span>riflessi immediatamente a <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>to <span class=\"_ _23\"></span>economico. <span class=\"_ _22\"></span>Alla <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>riferimento <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>presente <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>Amministr<span class=\"_ _0\"></span>atori <span class=\"_ _23\"></span>ritengono, comunque, <span class=\"_ _2f\"> </span>che <span class=\"_ _2e\"> </span>le <span class=\"_ _2f\"> </span>stime <span class=\"_ _2e\"> </span>e <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>assunzioni <span class=\"_ _2f\"> </span>utilizzate <span class=\"_ _2f\"> </span>riflettano <span class=\"_ _2e\"> </span>la <span class=\"_ _2f\"> </span>migliore <span class=\"_ _2e\"> </span>valutazione <span class=\"_ _2f\"> </span>possibile <span class=\"_ _2f\"> </span>date <span class=\"_ _2e\"> </span>le informazioni <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span>sponibili. <span class=\"_ _2d\"> </span>Gli <span class=\"_ _2a\"> </span>Amministratori <span class=\"_ _2d\"> </span>riten<span class=\"_ _0\"></span>gono <span class=\"_ _2a\"> </span>inoltre <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>stime <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>assunzioni <span class=\"_ _2a\"> </span>adottate <span class=\"_ _2d\"> </span>non comportino rettifiche materiali ai v<span class=\"_ _0\"></span>alori contabili delle attivit\u00e0 e passivit\u00e0.<span class=\"_ _0\"></span> 2.9.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Principi contabili di nuova applicazione<span class=\"_ _0\"></span> I principi contabili applicati a partire dal 1 g<span class=\"_ _0\"></span>ennaio 2022 sono i seguenti:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In data 14 maggio 2020 lo IASB ha pubblicato i seguenti emendamenti d<span class=\"_ _0\"></span>enominati:<span class=\"_ _0\"></span> </span></span>-<span class=\"ff58\"> <span class=\"_ _ae\"> </span><span class=\"ff5a\">Amendments <span class=\"_ _28\"></span>to <span class=\"_ _23\"></span>IFRS <span class=\"_ _28\"></span>3 <span class=\"_ _23\"></span>Business <span class=\"_ _23\"></span>Comb<span class=\"_ _0\"></span>inations<span class=\"_ _0\"></span></span></span>: <span class=\"_ _23\"></span>le <span class=\"_ _28\"></span>modifiche <span class=\"_ _23\"></span>hanno <span class=\"_ _23\"></span>lo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>scopo <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>aggiornare <span class=\"_ _23\"></span>il riferimento <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>nell\u2019IFRS <span class=\"_ _0\"></span>3 <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>Conceptual <span class=\"_ _0\"></span>Framework <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>versione <span class=\"_ _0\"></span>rivista, <span class=\"_ _0\"></span>senza <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>ci\u00f2 comporti modifiche alle disposizioni del principio<span class=\"_ _0\"></span>. -<span class=\"ff58\"> <span class=\"_ _ae\"> </span><span class=\"ff5a\">Amendments <span class=\"_ _2c\"></span>to <span class=\"_ _28\"></span>IAS <span class=\"_ _2c\"></span>16 <span class=\"_ _28\"></span>Property<span class=\"_ _0\"></span>, <span class=\"_ _28\"></span>Plant <span class=\"_ _2c\"></span>and <span class=\"_ _28\"></span>Equipment<span class=\"_ _0\"></span></span></span>: <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>modifiche <span class=\"_ _28\"></span>hanno <span class=\"_ _2c\"></span>lo <span class=\"_ _28\"></span>scopo <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>non consentire la ded<span class=\"_ _0\"></span>uzione dal costo <span class=\"_ _0\"></span>delle attivit\u00e0 materiali <span class=\"_ _0\"></span>l\u2019importo ricevuto <span class=\"_ _0\"></span>dalla vendita di <span class=\"_ _0\"></span>beni prodotti <span class=\"_ _2c\"> </span>nella <span class=\"_ _2d\"> </span>fase <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>test <span class=\"_ _2c\"> </span>dell\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>stessa. <span class=\"_ _2d\"> </span>Tali <span class=\"_ _28\"> </span>ri<span class=\"_ _0\"></span>cavi <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>vendita <span class=\"_ _28\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2c\"> </span>relativi <span class=\"_ _2c\"> </span>costi <span class=\"_ _2d\"> </span>sarann<span class=\"_ _0\"></span><span class=\"ff56 lsf\">o </span>pertanto rilevati nel conto economico.<span class=\"_ _0\"></span> - <span class=\"_ _ae\"> </span>Amendments to <span class=\"_ _2b\"></span>IAS <span class=\"_ _2b\"></span>37 <span class=\"_ _2b\"></span>Provisions, <span class=\"_ _2b\"></span>Contingen<span class=\"_ _0\"></span>t <span class=\"_ _2b\"></span>Liabilities <span class=\"_ _2b\"></span>and <span class=\"_ _29\"></span>Contingent <span class=\"_ _2b\"></span>Assets<span class=\"_ _0\"></span><span class=\"ff5d\">: <span class=\"_ _2b\"></span>l\u2019emendamento </span>chiarisce <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>nella <span class=\"_ _23\"></span>stima <span class=\"_ _23\"></span>sul<span class=\"_ _0\"></span>l\u2019eventuale <span class=\"_ _23\"></span>onerosit\u00e0 <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _28\"></span>contratto <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>devono <span class=\"_ _28\"></span>considerare <span class=\"_ _23\"></span>tutti <span class=\"_ _28\"></span>i costi <span class=\"_ _41\"> </span><span class=\"ff5d\">direttamente <span class=\"_ _3c\"> </span>imputabili <span class=\"_ _3c\"> </span>al <span class=\"_ _41\"> </span>contratto<span class=\"_ _0\"></span>. <span class=\"_ _41\"> </span>Di <span class=\"_ _3c\"> </span>conseguenza, <span class=\"_ _3c\"> </span>la <span class=\"_ _41\"> </span>valutazione <span class=\"_ _3c\"> </span>sull\u2019eventuale </span>onerosit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>contratto <span class=\"_ _28\"></span>include <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>solo <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>incrementali <span class=\"_ _23\"></span>(c<span class=\"_ _0\"></span>ome <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>esempio, <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>del materiale <span class=\"_ _2c\"> </span>diretto <span class=\"_ _2d\"> </span>impiegato <span class=\"_ _2c\"> </span>nella <span class=\"_ _2d\"> </span>lavorazione), <span class=\"_ _2c\"> </span>ma <span class=\"_ _2c\"> </span>anche <span class=\"_ _2d\"> </span>tutti <span class=\"_ _2c\"> </span>i <span class=\"_ _2c\"> </span>costi <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>l\u2019<span class=\"_ _0\"></span><span class=\"ff56\">impresa <span class=\"_ _2c\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2c\"> </span>pu\u00f2 </span>evitare <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>quanto <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>stipulato <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>contratto <span class=\"_ _23\"></span>(come, <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>esempio, <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>quota <span class=\"_ _28\"></span>dell'ammortamento <span class=\"_ _23\"></span>dei macchinari impiegati per l'adempimento del con<span class=\"_ _0\"></span>tratto). -<span class=\"ff58\"> <span class=\"_ _ae\"> </span><span class=\"ff5a\">Annu<span class=\"_ _0\"></span>al <span class=\"_\"> </span>Improvements <span class=\"_\"> </span>2018<span class=\"_ _0\"></span>-2020</span></span>: <span class=\"_\"> </span>le <span class=\"_\"> </span>modifiche <span class=\"_ _8b\"> </span>sono <span class=\"_ _8b\"> </span>state <span class=\"_\"> </span>apportate <span class=\"_ _8b\"> </span>all<span class=\"_ _0\"></span><span class=\"ff5d\">\u2019<span class=\"ff5a\">IFRS <span class=\"_\"> </span>1 <span class=\"_\"> </span>First<span class=\"_ _0\"></span>-time </span></span>Adoption <span class=\"_ _29\"></span>of <span class=\"_ _2b\"></span>Internatio<span class=\"_ _0\"></span>nal <span class=\"_ _2b\"></span>Fin<span class=\"_ _0\"></span>ancial <span class=\"_ _29\"></span>Reporting <span class=\"_ _2b\"></span>Standards<span class=\"_ _0\"></span><span class=\"ff5d\">, all\u2019</span>IFRS <span class=\"_ _2b\"></span>9 <span class=\"_ _29\"></span>Financial <span class=\"_ _29\"></span>Instruments<span class=\"ff56\">, <span class=\"_ _29\"></span>allo </span>IAS 41 Agriculture<span class=\"ff56\"> e agli </span>Illustrative Ex<span class=\"_ _0\"></span>amples<span class=\"ff56\"> <span class=\"ff5d\">dell\u2019</span></span>IFRS 1<span class=\"_ _0\"></span>6 Leases<span class=\"ff56\">. </span>2.10.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Principi contabili non ancora applicati I seguenti <span class=\"_ _2b\"></span>prin<span class=\"_ _0\"></span>cipi contabili, <span class=\"_ _2b\"></span>emendame<span class=\"_ _0\"></span>nti ed <span class=\"_ _2b\"></span>interpret<span class=\"_ _0\"></span><span class=\"ff5d\">azioni IFRS <span class=\"_ _29\"></span>omologati dall\u2019Unione <span class=\"_ _2b\"></span>Eu<span class=\"_ _0\"></span>ropea, non </span>ancora <span class=\"_ _2b\"></span>obbligatoriamente applicabili <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>stati <span class=\"_ _2b\"></span>adottati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>via <span class=\"_ _2b\"></span>anticipata <span class=\"_ _29\"></span>dalla <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 <span class=\"_ _29\"></span>dicembre <span class=\"_ _2b\"></span>2022:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>18 <span class=\"_ _22\"></span>maggio <span class=\"_ _23\"></span>2017 <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>ubblicato <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>principio <span class=\"_ _23\"></span><span class=\"ff5a\">IFRS <span class=\"_ _23\"></span>17 <span class=\"_ _22\"></span><span class=\"ff5e\">\u2013</span> <span class=\"_ _23\"></span>Insurance <span class=\"_ _22\"></span>Contracts</span> <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>\u00e8<span class=\"_ _0\"></span> </span></span>destinato <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>sostituire <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>principio <span class=\"_ _23\"></span><span class=\"ff5a\">IFRS <span class=\"_ _22\"></span>4 <span class=\"_ _23\"></span><span class=\"ff5e\">\u2013</span> <span class=\"_ _22\"></span>Insurance <span class=\"_ _22\"></span>Contracts<span class=\"_ _0\"></span></span>. <span class=\"_ _22\"></span>L'obiettiv<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>nu<span class=\"_ _0\"></span>ovo <span class=\"_ _22\"></span>principio <span class=\"_ _23\"></span>\u00e8 quello <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>garantire <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>un'entit\u00e0 <span class=\"_ _28\"></span>fornisca <span class=\"_ _28\"></span>informazioni <span class=\"_ _28\"></span>pertin<span class=\"_ _0\"></span>enti <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>rappresen<span class=\"_ _0\"></span>tano <span class=\"_ _28\"></span>fedelmente <span class=\"_ _28\"></span>i diritti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>obblighi <span class=\"_ _23\"></span>derivanti <span class=\"_ _0\"></span>dai <span class=\"_ _23\"></span>contratti <span class=\"_ _0\"></span>assicurativi<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>emessi. <span class=\"_ _22\"></span>Lo <span class=\"_ _22\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _0\"></span>svilup<span class=\"_ _0\"></span>pato <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>standard per <span class=\"_ _29\"></span>eliminare <span class=\"_ _29\"></span>incongruenze <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>deb<span class=\"_ _0\"></span>olezze <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>politiche <span class=\"_ _29\"></span>contabili <span class=\"_ _29\"></span>esistenti, <span class=\"_ _29\"></span>fornendo <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>quadro unico principle-based<span class=\"ff56\"> <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"></span>tenere <span class=\"_ _2c\"></span>conto <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>tutti <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"></span>tipi <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>contratti <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>assicurazione, <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span>clusi <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>contratti <span class=\"_ _2c\"></span>di </span>riassicurazione che un assicuratore detiene.<span class=\"_ _0\"></span> Considerata <span class=\"_ _23\"></span>l\u2019attivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo, <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>amministratori <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>attendono <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>effetto <span class=\"_ _23\"></span>significativo <span class=\"_ _23\"></span>nel bilancio consolidato dall<span class=\"ff5d\">\u2019adozione di questo prin<span class=\"_ _0\"></span>cipio.</span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>9 <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _23\"></span>2021, <span class=\"_ _28\"></span>lo <span class=\"_ _28\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _28\"></span>pubblicato <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>emendament<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>denominato <span class=\"_ _28\"></span><span class=\"ff5e\">\u201cAmendmen<span class=\"_ _0\"></span>ts <span class=\"_ _23\"></span>to </span></span></span>IFRS <span class=\"_ _41\"> </span>17 <span class=\"_ _41\"> </span>Insurance <span class=\"_ _3c\"> </span>contracts: <span class=\"_ _41\"> </span>Initial <span class=\"_ _41\"> </span>Application <span class=\"_ _3c\"> </span>of <span class=\"_ _41\"> </span>IFRS <span class=\"_ _41\"> </span>17 <span class=\"_ _41\"> </span>and <span class=\"_ _3c\"> </span>IFRS <span class=\"_ _2f\"> </span>9 <span class=\"_ _49\"> </span><span class=\"ff5e\">\u2013</span> <span class=\"_ _41\"> </span>Comparative Information\u201d<span class=\"ff56\">. <span class=\"_ _23\"></span>L'emendamen<span class=\"_ _0\"></span>to <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span>'opzione <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>transizi<span class=\"_ _0\"></span>one <span class=\"_ _23\"></span>relativa <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>informazioni <span class=\"_ _28\"></span>comparative </span>sulle attivit\u00e0 finanziarie <span class=\"_ _29\"></span>presentate alla <span class=\"_ _29\"></span>data di <span class=\"_ _29\"></span>applicazione iniziale dell'IFRS <span class=\"_ _29\"></span>17. L'emendamento \u00e8 volto <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>evitare <span class=\"_ _22\"></span>disallineamenti <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>tabili <span class=\"_ _22\"></span>temporanei <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>e <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>contratti assicurativi, e quindi a migliorare l'utilit\u00e0 delle informazioni co<span class=\"_ _0\"></span>mparative per i lettori di bilancio. <span class=\"_ _0\"></span> Considerata <span class=\"_ _23\"></span>l\u2019attivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo, <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>amministratori <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>attendono <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>effetto <span class=\"_ _23\"></span>significativo <span class=\"_ _23\"></span>nel bilancio consolidato <span class=\"ff5d\">dall\u2019adozione di questo <span class=\"_ _0\"></span></span>emendamento. \u25aa <span class=\"_ _30\"> </span>In <span class=\"_ _2d\"> </span>data <span class=\"_ _2c\"> </span>12 <span class=\"_ _2d\"> </span>febbraio <span class=\"_ _2d\"> </span>2021 <span class=\"_ _2d\"> </span>lo <span class=\"_ _2d\"> </span>IASB <span class=\"_ _2d\"> </span>ha <span class=\"_ _2c\"> </span>pu<span class=\"_ _0\"></span>bblicato <span class=\"_ _2d\"> </span>due <span class=\"_ _2d\"> </span>emendamenti <span class=\"_ _2d\"> </span>denominati <span class=\"_ _2d\"> </span><span class=\"ff5e\">\u201cDisclosure <span class=\"_ _2d\"> </span>of </span>Accounting <span class=\"_ _2d\"> </span>Po<span class=\"_ _0\"></span>licies<span class=\"ff5e\">\u2014</span>Amendments <span class=\"_ _2a\"> </span>to <span class=\"_ _2d\"> </span>IAS <span class=\"_ _2a\"> </span>1 <span class=\"_ _2d\"> </span>and <span class=\"_ _2a\"> </span>IFRS <span class=\"_ _2d\"> </span>Practice <span class=\"_ _2a\"> </span>Statement <span class=\"_ _2d\"> </span>2<span class=\"_ _0\"></span>\u201d <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span><span class=\"ff5e\">\u201cDefinition <span class=\"_ _2a\"> </span>of </span>Accounting Estimates<span class=\"ff5e\">\u2014Amendments to<span class=\"_ _0\"></span> IAS 8\u201d<span class=\"ff56 lsb\">. <span class=\"ls0\">Le modifiche son<span class=\"_ _0\"></span>o volte a migliorar<span class=\"ff5d\">e l\u2019info<span class=\"_ _0\"></span>rmativa </span></span></span></span>sulle <span class=\"_\"> </span><span class=\"ff5a\">accounting <span class=\"_\"> </span>polic</span>y <span class=\"_\"> </span>in <span class=\"_\"> </span>modo <span class=\"_\"> </span>da <span class=\"_ _2a\"> </span>fornire <span class=\"_\"> </span>informazioni <span class=\"_\"> </span>pi\u00f9 <span class=\"_\"> </span>utili <span class=\"_\"> </span>agli <span class=\"_ _2a\"> </span>investitori <span class=\"_\"> </span>e <span class=\"_\"> </span>agli <span class=\"_ _2a\"> </span>altri utilizzatori primari del bilancio nonch\u00e9 ad aiutare le <span class=\"_ _29\"></span>societ\u00e0 a distinguere i cam<span class=\"_ _29\"></span>biamenti nelle stime contabili <span class=\"_ _29\"></span>dai <span class=\"_ _2b\"></span>cambiamenti di <span class=\"_ _29\"></span><span class=\"ff5a\">accounting <span class=\"_ _2b\"></span>p<span class=\"_ _0\"></span>olicy<span class=\"ff56\">. <span class=\"_ _29\"></span>Le <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>ifiche <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>applicheranno<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>dal <span class=\"_ _2b\"></span>1\u00b0 gennaio <span class=\"_ _2b\"></span>2023, </span></span>ma \u00e8 consentita un\u2019applicazione anticipata. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Non sono attesi effetti significativi nel bilancio <span class=\"_ _0\"></span>consolidato <span class=\"ff5d\">dall\u2019adozione di tali emendamen<span class=\"_ _0\"></span>ti. </span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>7 <span class=\"_ _22\"></span>maggio<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _22\"></span>lo <span class=\"_ _0\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _0\"></span>pubblicato <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>emendam<span class=\"_ _0\"></span>ento <span class=\"_ _22\"></span>denominato <span class=\"_ _23\"></span><span class=\"ff5e\">\u201cAmendments <span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>IAS </span></span></span>12 <span class=\"_ _2b\"></span>Income <span class=\"_ _29\"></span>Taxes: <span class=\"_ _2b\"></span>Deferred <span class=\"_ _2b\"></span>Ta<span class=\"_ _0\"></span>x <span class=\"_ _2b\"></span>related <span class=\"_ _29\"></span>to <span class=\"_ _2b\"></span>Assets <span class=\"_ _2b\"></span>and <span class=\"_ _2b\"></span>Lia<span class=\"_ _0\"></span>bilities <span class=\"_ _2b\"></span>arising <span class=\"_ _29\"></span>from <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>Single <span class=\"_ _2b\"></span>Transaction\u201d<span class=\"_ _0\"></span><span class=\"ff56 lsb\">. </span>Il documento chiarisce <span class=\"_ _0\"></span>come devono <span class=\"_ _0\"></span>essere contabilizzate le imposte<span class=\"_ _0\"></span> differite su alcun<span class=\"_ _0\"></span>e operazioni che <span class=\"_ _2d\"> </span>possono <span class=\"_ _2a\"> </span>generare <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>pari <span class=\"_ _2d\"> </span>ammontare, <span class=\"_ _2a\"> </span>quali <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>leasing <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2a\"> </span>di smantellamento. <span class=\"_ _95\"> </span>Le <span class=\"_ _8e\"> </span>modifiche <span class=\"_ _95\"> </span>si <span class=\"_ _95\"> </span>applicheranno<span class=\"_ _0\"></span> <span class=\"_ _95\"> </span>dal <span class=\"_ _95\"> </span>1\u00b0 <span class=\"_ _95\"> </span>gen<span class=\"_ _0\"></span>naio <span class=\"_ _95\"> </span>2023, <span class=\"_ _95\"> </span>ma <span class=\"_ _95\"> </span>\u00e8 <span class=\"_ _8e\"> </span>consentita un\u2019applicazione anticipata. <span class=\"ff56\"> </span>Non sono attesi effetti significativi nel bilancio <span class=\"_ _0\"></span>consolidato <span class=\"ff5d\">dall\u2019ad</span>ozione di tal<span class=\"_ _0\"></span>e emendamento<span class=\"lsb\">. </span> Al <span class=\"_ _29\"></span>31 <span class=\"_ _29\"></span>dicembre <span class=\"_ _29\"></span>2022 <span class=\"ff5d\">gli <span class=\"_ _2b\"></span>organi competenti <span class=\"_ _2b\"></span>dell\u2019Unione Europea <span class=\"_ _29\"></span>non <span class=\"_ _29\"></span>hanno <span class=\"_ _29\"></span>ancora <span class=\"_ _29\"></span>concluso <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>processo </span>di omologazione necessario per l\u2019adozione degli emend<span class=\"_ _0\"></span>amenti e dei principi sotto descritti:<span class=\"_ _0\"></span><span class=\"ff56\"> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In data 23 gennaio 2020 lo IASB ha pubblicato un emendamento denominato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cAmendments to IAS </span></span></span>1 Presentation of Financial <span class=\"_ _29\"></span>Statements: Classification of Liabilities <span class=\"_ _29\"></span>as Current or Non-<span class=\"ff5e\">current\u201d<span class=\"ff56\"> ed </span></span>in <span class=\"_\"> </span>data <span class=\"_\"> </span>31 <span class=\"_\"> </span>ottobre <span class=\"_\"> </span>2022 <span class=\"_\"> </span>ha <span class=\"_\"> </span>pubblicato <span class=\"_\"> </span>un <span class=\"_\"> </span>emendamento <span class=\"_\"> </span>denominato <span class=\"_\"> </span><span class=\"ff5e\">\u201c<span class=\"ff5a\">Amendments <span class=\"_\"> </span>to <span class=\"_\"> </span>IAS <span class=\"_\"> </span>1 </span></span>Presentation <span class=\"_ _29\"></span>of <span class=\"_ _2b\"></span>Fin<span class=\"_ _0\"></span>ancial <span class=\"_ _29\"></span>Statements: <span class=\"_ _2b\"></span>N<span class=\"_ _0\"></span>on<span class=\"_ _0\"></span>-<span class=\"ff5e\">Current <span class=\"_ _29\"></span>Liabilities <span class=\"_ _29\"></span>with <span class=\"_ _2b\"></span>Covena<span class=\"_ _0\"></span>nts\u201d<span class=\"ff56 lsb\">. <span class=\"_ _29\"></span><span class=\"ls0\">I <span class=\"_ _29\"></span>documenti <span class=\"_ _2b\"></span>han<span class=\"_ _0\"></span>no </span></span></span>l\u2019obiettivo <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>chiarire <span class=\"_ _2c\"> </span>come <span class=\"_ _2c\"> </span>classificare <span class=\"_ _28\"> </span>i <span class=\"_ _2c\"> </span>debiti <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>le <span class=\"_ _2c\"> </span>altre <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _28\"> </span>a <span class=\"_ _2c\"> </span>breve <span class=\"_ _2c\"> </span>o <span class=\"_ _28\"></span>lungo <span class=\"_ _2c\"> </span>termine. <span class=\"_ _2d\"> </span><span class=\"ff56\">Le </span>modifiche <span class=\"_ _2b\"></span>entrano in <span class=\"_ _2b\"></span>vigore <span class=\"_ _2b\"></span>dal <span class=\"_ _2b\"></span>1\u00b0 <span class=\"_ _29\"></span>gennaio <span class=\"_ _2b\"></span>2024<span class=\"_ _0\"></span>; <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>comunque <span class=\"_ _2b\"></span>consent<span class=\"ff5d\">ita un\u2019applicazione <span class=\"_ _2b\"></span>anticipata.<span class=\"ff56\"> </span></span>Non sono attesi effetti significativi nel bilancio <span class=\"_ _0\"></span>consolidato <span class=\"ff5d\">dall\u2019adozione di tale emendamen<span class=\"_ _0\"></span>to. </span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>22 <span class=\"_ _23\"></span>settembre <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _23\"></span>lo <span class=\"_ _22\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>pubblicato <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>emendamento <span class=\"_ _23\"></span>denominato <span class=\"_ _23\"></span><span class=\"ff5e\">\u201cAmen<span class=\"_ _0\"></span>dments <span class=\"_ _23\"></span>to </span></span></span>IFRS <span class=\"_ _2b\"></span>16 <span class=\"_ _2b\"></span><span class=\"ff5e\">Leases: <span class=\"_ _2b\"></span>Lease <span class=\"_ _2b\"></span>Lia<span class=\"_ _0\"></span>bility <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>Sale <span class=\"_ _2b\"></span>and <span class=\"_ _2b\"></span>Leaseb<span class=\"_ _0\"></span>ack\u201d<span class=\"ff56 lsb\">. <span class=\"_ _2b\"></span><span class=\"ls0\">Il <span class=\"_ _2b\"></span>documento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>richiede <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>venditore<span class=\"_ _0\"></span>-l<span class=\"ff5a\">essee</span> </span></span></span>di <span class=\"_ _29\"></span>valutare <span class=\"_ _2b\"></span>la passivit\u00e0 <span class=\"_ _2b\"></span>per il <span class=\"_ _2b\"></span><span class=\"ff5a\">lease<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _29\"></span>riveniente <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>una transazione <span class=\"_ _2b\"></span>di <span class=\"ff5a\">sale <span class=\"_ _29\"></span>&amp; <span class=\"_ _2b\"></span>leaseback<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>da <span class=\"_ _29\"></span>non </span></span></span></span>rilevare <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>provento <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>una <span class=\"_ _28\"></span>perdita <span class=\"_ _2c\"></span>che <span class=\"_ _28\"></span>si <span class=\"_ _2c\"></span>riferiscano <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>diri<span class=\"_ _0\"></span><span class=\"ff5d\">tto <span class=\"_ _28\"> </span>d\u2019uso <span class=\"_ _2c\"> </span>trattenuto. <span class=\"_ _2c\"> </span>Le <span class=\"_ _28\"></span>modifiche <span class=\"_ _28\"> </span>s<span class=\"_ _0\"></span>i </span>applicheranno dal 1\u00b0 gennaio 2024, ma \u00e8 consentita un\u2019<span class=\"_ _0\"></span>applicazione anticipata. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Non sono attesi effetti significativi nel bilancio <span class=\"_ _0\"></span>consolidato <span class=\"ff5d\">dall\u2019adozione di tale emendamen<span class=\"_ _0\"></span>to. </span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _2b\"></span>data 30 <span class=\"_ _2b\"></span>gennaio <span class=\"_ _29\"></span>2014 <span class=\"_ _29\"></span>lo <span class=\"_ _2b\"></span>IASB ha <span class=\"_ _2b\"></span>pubblicato il <span class=\"_ _2b\"></span>principio <span class=\"ff5a\">IFRS <span class=\"_ _2b\"></span>14 <span class=\"_ _29\"></span><span class=\"ff5e\">\u2013<span class=\"ff5a\"> <span class=\"_ _2b\"></span>Regulatory Deferral <span class=\"_ _2b\"></span>Accounts<span class=\"ff56\"> </span></span></span></span></span></span>che <span class=\"_ _28\"></span>consente <span class=\"_ _28\"></span>solo <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>coloro <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>adottano <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>IFRS <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _28\"></span>prima <span class=\"_ _28\"></span>volta <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>continuare <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>rilevare <span class=\"_ _28\"></span>gli importi relativi alle attivit\u00e0 soggette a tariffe regolamentate (<span class=\"_ _0\"></span><span class=\"ff5e\">\u201cRate Regulation Activities\u201d</span>) secon<span class=\"_ _0\"></span><span class=\"ls1\">do </span>i precedenti principi contabili adottati. <span class=\"_ _0\"></span> Non essendo il Gruppo<span class=\"_ _0\"></span> <span class=\"ls1\">un </span><span class=\"ff5a\">first-time adopter</span>, tale principio non risulta applicabile.<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">Financial <span class=\"_ _23\"></span>instruments <span class=\"_ _23\"></span>with <span class=\"_ _23\"></span>characteristics <span class=\"_ _23\"></span>of <span class=\"_ _28\"></span>equity<span class=\"ff56\"> <span class=\"_ _23\"></span>(FICE): <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>progetto <span class=\"_ _23\"></span>FICE <span class=\"_ _23\"></span>dello <span class=\"_ _23\"></span>IASB <span class=\"_ _23\"></span>mi<span class=\"_ _0\"></span>ra <span class=\"_ _23\"></span>a </span></span></span>risolvere <span class=\"_ _2b\"></span>i problemi <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>sorg<span class=\"ff5d\">on<span class=\"_ _0\"></span>o <span class=\"_ _2b\"></span>nell'applicazione dello <span class=\"_ _2b\"></span>IAS <span class=\"_ _2b\"></span>32 \u201cStrumenti <span class=\"_ _2b\"></span>finanziari\u201d <span class=\"_ _2b\"></span>e ad <span class=\"_ _2b\"></span>ampliare </span>i <span class=\"_ _22\"></span>requ<span class=\"_ _0\"></span>isiti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>informativa <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>agli <span class=\"_ _23\"></span>strumenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _23\"></span>emessi <span class=\"_ _23\"></span>dall\u2019entit\u00e0. <span class=\"_ _23\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>La <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>prevista <span class=\"_ _23\"></span>per </span>l'Exposure <span class=\"_ _2b\"></span>Draft <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>seconda <span class=\"_ _2b\"></span>met\u00e0 <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>2023. <span class=\"_ _2b\"></span>L'applicazione <span class=\"_ _2b\"></span>anticip<span class=\"_ _0\"></span>ata <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>consentita <span class=\"_ _2b\"></span>ma <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>prevista<span class=\"_ _0\"></span> dal Gruppo. Al <span class=\"_ _2b\"></span>riguard<span class=\"_ _0\"></span>o, <span class=\"_ _2b\"></span>gli Amministratori <span class=\"_ _2b\"></span>non prevedono <span class=\"_ _2b\"></span>che i <span class=\"_ _2b\"></span>nuovi <span class=\"_ _29\"></span>principi, <span class=\"_ _2b\"></span>interpretazioni ed <span class=\"_ _2b\"></span>emendamenti abbiano un impatto significativo sul B<span class=\"_ _0\"></span>ilancio Consolidato. 2.11.<span class=\"ff5f\"> <span class=\"_ _2e\"> </span></span>Impatti della<span class=\"_ _0\"></span> situazione in Ucraina Con riferime<span class=\"_ _0\"></span>nto al <span class=\"_ _0\"></span>conflitto<span class=\"_ _0\"></span> bellico <span class=\"_ _0\"></span>russo<span class=\"_ _0\"></span>-ucraino <span class=\"_ _0\"></span>in corso, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>quale, <span class=\"_ _0\"></span>assieme <span class=\"_ _0\"></span>agli <span class=\"_ _0\"></span>effetti <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>pandemia Covid-19, <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>comportato <span class=\"_ _22\"></span>sign<span class=\"_ _0\"></span>ificativi <span class=\"_ _23\"></span>mutamenti <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>quadro <span class=\"_ _23\"></span>macroeconomico <span class=\"_ _23\"></span>(i.e. <span class=\"_ _23\"></span><span class=\"ff5d\">aumento <span class=\"_ _23\"></span>dell\u2019inflazione, </span>difficolt\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>reperimento <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>talune <span class=\"_ _2b\"></span>mat<span class=\"_ _0\"></span>erie <span class=\"_ _2b\"></span>prime, <span class=\"_ _2b\"></span>forte incremento <span class=\"_ _2b\"></span>de<span class=\"ff5d\">l <span class=\"_ _2b\"></span>costo <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>gas <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>dell\u2019energia<span class=\"_ _0\"></span><span class=\"ff56\">), <span class=\"_ _2b\"></span>si <span class=\"_ _2b\"></span>evidenzia </span></span>che <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>non <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>esposto direttamente <span class=\"_ _2b\"></span>a tali <span class=\"_ _2b\"></span>contingenze, non <span class=\"_ _2b\"></span>avendo significativi <span class=\"_ _2b\"></span>rapp<span class=\"_ _0\"></span>orti <span class=\"_ _29\"></span>commerciali <span class=\"_ _29\"></span>con la Russia <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>l\u2019Ucraina.<span class=\"ff56\"> Nel <span class=\"_ _29\"></span>corso dell'esercizio <span class=\"_ _29\"></span>tra gli <span class=\"_ _29\"></span>impatti <span class=\"_ _29\"></span>indiretti del <span class=\"_ _29\"></span>conflitto si evidenzia<span class=\"_ _29\"></span> un <span class=\"_ _29\"></span>aumento <span class=\"_ _29\"></span>non </span>significativo <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>dell'energia <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>Italia; <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>impianti <span class=\"_ _28\"></span>industriali <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>livello <span class=\"_ _23\"></span>europeo <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>hanno <span class=\"_ _23\"></span>subito rincari. Nonostante ci\u00f2 il Gruppo non ha perso compet<span class=\"_ _0\"></span>itivit\u00e0.  Il <span class=\"_ _2c\"> </span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _2d\"> </span>m<span class=\"_ _29\"></span>onitora <span class=\"_ _2d\"> </span>costantemente <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>evoluzioni <span class=\"_ _2c\"></span>de<span class=\"_ _0\"></span>l <span class=\"_ _2d\"> </span>contesto <span class=\"_ _2c\"></span>geopolitico <span class=\"_ _2d\"> </span>mondiale <span class=\"_ _2c\"></span>che <span class=\"_ _2d\"> </span>potrebbero richiedere <span class=\"_ _3c\"> </span>una <span class=\"_ _49\"> </span>revisione <span class=\"_ _3c\"> </span>delle <span class=\"_ _49\"> </span>strategie <span class=\"_ _49\"> </span>aziendali <span class=\"_ _3c\"> </span>gi\u00e0 <span class=\"_ _49\"> </span>definite <span class=\"_ _3c\"> </span>e/o <span class=\"_ _3c\"> </span>l\u2019ado<span class=\"_ _0\"></span>zione <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>meccanismi <span class=\"_ _3c\"> </span>tali <span class=\"_ _3c\"> </span>da salvaguardarne il posizionamento comp<span class=\"_ _0\"></span>etitivo e le performance.<span class=\"_ _0\"></span> 2.12.<span class=\"ff5f\"> <span class=\"_ _2e\"> </span></span>Informativa per settori o<span class=\"_ _0\"></span>perativi Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>nelle <span class=\"_ _28\"> </span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _28\"></span>il <span class=\"_ _2c\"> </span>Gruppo <span class=\"_ _2c\"> </span>opera <span class=\"_ _28\"></span>e <span class=\"_ _28\"> </span>che <span class=\"_ _2c\"> </span>costituiscono <span class=\"_ _2c\"> </span>l\u2019informativa <span class=\"_ _28\"> </span>per <span class=\"_ _2c\"> </span>settore <span class=\"_ _2c\"> </span>operativo <span class=\"_ _2c\"> </span>come richiesto <span class=\"_ _2b\"></span>dall\u2019<span class=\"_ _0\"></span>IFRS <span class=\"_ _2b\"></span>8 sono <span class=\"_ _2b\"></span>relative <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>Settore Ram<span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>(gr<span class=\"_ _0\"></span>uppo <span class=\"_ _2b\"></span>KME SE) <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>Settore <span class=\"_ _29\"></span>Profumi <span class=\"_ _2b\"></span>&amp; Cosmesi <span class=\"_ _2b\"></span>(gruppo CULTI Milano). La <span class=\"_ _2b\"></span>struttura <span class=\"_ _2b\"></span>direzionale <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>organi<span class=\"ff5d\">zzativa <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _2b\"></span>riflette <span class=\"_ _2b\"></span>l\u2019informativa <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>settore <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>business </span>precedentemente descritta. L\u2019individu<span class=\"_ _0\"></span>azione dei settori operativi \u00e8 operata sulla b<span class=\"_ _0\"></span>ase degli elementi che il p<span class=\"_ _0\"></span>i\u00f9 alto <span class=\"_ _23\"></span>livello <span class=\"_ _23\"></span>decisionale <span class=\"_ _23\"></span>del<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>Gruppo <span class=\"_ _23\"></span>utilizza <span class=\"_ _23\"></span>per<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>prendere <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>prop<span class=\"_ _22\"></span><span class=\"ff5d\">rie <span class=\"_ _23\"></span>decisioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>merito <span class=\"_ _28\"></span>all\u2019allocazione <span class=\"_ _23\"></span>delle </span>risorse e alla valutazione dei risultati. I <span class=\"_ _2b\"></span>dati <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>settore <span class=\"_ _2b\"></span>relativi <span class=\"_ _2b\"></span>ai <span class=\"_ _2b\"></span>ricavi <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>proventi <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>ai <span class=\"_ _2b\"></span>risul<span class=\"_ _0\"></span>tati <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>2022 <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>riportati <span class=\"_ _2b\"></span>nella <span class=\"_ _29\"></span><span class=\"ff5a\">Relazione </span>sull<span class=\"ff5e\">\u2019andamento della</span>gestione<span class=\"ff56\">.<span class=\"_ _0\"></span> </span>2.13.<span class=\"ff5f\"> <span class=\"_ _2e\"> </span></span>Informativa Climate Cha<span class=\"_ _0\"></span>nge Si rimanda a quanto indicato nella <span class=\"_ _0\"></span><span class=\"ff5a\">Relazione sull<span class=\"ff5e\">\u2019andamento dell<span class=\"_ _0\"></span></span>a gestione</span>. 3.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Politica di gestione dei rischi finanziari<span class=\"_ _0\"></span> </span></span>La <span class=\"_\"> </span>Capogruppo <span class=\"_\"> </span>nella <span class=\"_\"> </span>sua<span class=\"_ _0\"></span> <span class=\"_\"> </span>posizione <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span><span class=\"ff5a\">ho<span class=\"_ _0\"></span>lding</span> <span class=\"_\"> </span>di <span class=\"_\"> </span>investimenti <span class=\"_\"> </span>dinamica, <span class=\"_ _8b\"> </span>\u00e8 <span class=\"_\"> </span>sempre <span class=\"_ _8b\"> </span>stata <span class=\"_\"> </span>esposta direttamente <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>rischi <span class=\"_ _2c\"></span>legati <span class=\"_ _2d\"> </span>alle <span class=\"_ _2d\"> </span>operazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>investimento <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>disinvestimento. <span class=\"_ _2d\"> </span>I <span class=\"_ _2d\"> </span>risultati <span class=\"_ _2d\"> </span>economici <span class=\"_ _2c\"> </span>della Societ\u00e0 <span class=\"_ _22\"></span>dipendono <span class=\"_ _23\"></span>prevalentemente <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>tali <span class=\"_ _23\"></span>operazioni <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>dai <span class=\"_ _23\"></span>dividendi <span class=\"_ _22\"></span>eventualmente <span class=\"_ _22\"></span>distribuiti <span class=\"_ _23\"></span>dalle <span class=\"_ _22\"></span>societ\u00e0 partecipate <span class=\"_ _8b\"> </span>e, <span class=\"_ _2e\"> </span>quindi, <span class=\"_ _8b\"> </span>in <span class=\"_ _2e\"> </span>ultima <span class=\"_ _8b\"> </span>istanza, <span class=\"_ _2e\"> </span>riflettono, <span class=\"_ _8b\"> </span>oltre <span class=\"_ _2e\"> </span>l\u2019andamento <span class=\"_ _2e\"> </span>econ<span class=\"_ _0\"></span><span class=\"ff56\">omico, <span class=\"_ _8b\"> </span>anche<span class=\"_ _0\"></span> <span class=\"_ _8b\"> </span>le <span class=\"_ _2e\"> </span>politiche <span class=\"_ _8b\"> </span>di </span>investimento e di distribuzione dei dividendi di quest\u2019u<span class=\"_ _0\"></span>ltime. <span class=\"ff56\"> </span>Gli <span class=\"_ _28\"></span>investimenti <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _28\"></span>societarie <span class=\"_ _28\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>loro <span class=\"_ _28\"></span>natu<span class=\"_ _0\"></span>ra <span class=\"_ _28\"></span>investimenti <span class=\"_ _28\"></span>connotati <span class=\"_ _2c\"></span>da <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>certo livello di <span class=\"_ _0\"></span>rischio. <span class=\"_ _0\"></span>Tali <span class=\"_ _0\"></span>tipologie di <span class=\"_ _0\"></span>investimenti, <span class=\"_ _0\"></span>infatti, <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>garantiscono <span class=\"_ _0\"></span>la certezza <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rimborso del <span class=\"_ _0\"></span>capitale investito <span class=\"_ _22\"></span>ovvero <span class=\"_ _22\"></span>possono <span class=\"_ _22\"></span>produrre <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>in<span class=\"_ _0\"></span>sufficienti <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>remunerare <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>capitale <span class=\"_ _22\"></span>inves<span class=\"_ _0\"></span>tito <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>comunque tradursi in performance che possono<span class=\"_ _0\"></span> risultare inferiori a quelle di mercato.<span class=\"_ _0\"></span> Inoltre, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>processo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>disinvestimento <span class=\"_ _0\"></span>potrebb<span class=\"_ _0\"></span>e richi<span class=\"_ _0\"></span>edere tempi <span class=\"_ _0\"></span>pi<span class=\"_ _0\"></span>\u00f9 <span class=\"_ _0\"></span>lunghi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>previsti <span class=\"_ _0\"></span>e/o <span class=\"_ _0\"></span>essere realizzato <span class=\"_ _23\"></span>con <span class=\"_ _28\"></span>modalit\u00e0 <span class=\"_ _28\"></span>non <span class=\"_ _23\"></span>pienamente <span class=\"_ _28\"></span>soddisfacenti <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>condizioni <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>remunerative. <span class=\"_ _28\"></span>In <span class=\"_ _23\"></span>particolare, <span class=\"_ _28\"></span>con riferimento <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"></span>partecipazioni <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>quotate, <span class=\"_ _2d\"> </span>direttamente <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"></span>indirettamente <span class=\"_ _2d\"> </span>detenute, <span class=\"_ _2c\"></span>non <span class=\"_ _2d\"> </span>si <span class=\"_ _2c\"></span>pu\u00f2 garantire <span class=\"_ _0\"></span>l\u2019assenza <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>rischi <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>nessi <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>liquidabilit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>tali <span class=\"_ _0\"></span>partecipazioni <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>valutazione delle <span class=\"_ _2b\"></span>stesse, in <span class=\"_ _2b\"></span>considerazione: <span class=\"_ _29\"></span>(a) <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>possibile <span class=\"_ _2b\"></span>assenza in <span class=\"_ _2b\"></span>tali <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>sistemi di <span class=\"_ _2b\"></span>controllo a<span class=\"_ _29\"></span>naloghi <span class=\"_ _2b\"></span>a quelli richiesti <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>societ\u00e0 <span class=\"_ _2e\"> </span>con <span class=\"_ _2e\"> </span>tito<span class=\"_ _0\"></span>li <span class=\"_ _2e\"> </span>quotati, <span class=\"_ _2e\"> </span>con <span class=\"_ _2e\"> </span>la <span class=\"_ _2e\"> </span>possibile <span class=\"_ _2e\"> </span>conseguente <span class=\"_ _2f\"> </span>indisponibilit\u00e0 <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>un <span class=\"_ _2f\"> </span>flusso <span class=\"_ _2e\"> </span>di informazioni <span class=\"_ _29\"></span>almeno <span class=\"_ _2b\"></span>pari, <span class=\"_ _29\"></span>sotto <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>profilo <span class=\"_ _29\"></span>quantitativo <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>qualitativo, a <span class=\"_ _2b\"></span>quello <span class=\"_ _2b\"></span>disponib<span class=\"_ _0\"></span>ile <span class=\"_ _2b\"></span>per le <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _29\"></span>con <span class=\"_ _2b\"></span>titoli<span class=\"_ _0\"></span> quot<span class=\"ls0\">ati; <span class=\"_ _2b\"></span>e (b) <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>difficol<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _2b\"></span>di effettuare <span class=\"_ _2b\"></span>verifiche <span class=\"_ _29\"></span>indipendenti <span class=\"_ _29\"></span>nelle <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _29\"></span>e, <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>indi, <span class=\"_ _29\"></span>valutare <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>completezza </span>e <span class=\"_ _22\"></span>l\u2019accuratez<span class=\"_ _0\"></span>za <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>informazioni <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>esse <span class=\"_ _23\"></span>fornite. <span class=\"_ _22\"></span>Nel <span class=\"_ _23\"></span>caso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>partecipazioni <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>controllo, <span class=\"_ _22\"></span>siano <span class=\"_ _23\"></span>esse <span class=\"_ _22\"></span>di societ\u00e0 <span class=\"_ _2d\"> </span>quotate <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2d\"> </span>quotate, <span class=\"_ _2d\"> </span>la <span class=\"_ _2a\"> </span>possibilit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>influire <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>gestione <span class=\"_ _2a\"> </span>delle <span class=\"_ _2d\"> </span>partecipazioni <span class=\"_ _2d\"> </span>medesime <span class=\"_ _2d\"> </span>per favorirne la <span class=\"_ _2b\"></span>crescita, anche attraverso <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>rapporto con <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>management e <span class=\"_ _2b\"></span>l\u2019azionariato della partecipata, <span class=\"_ _29\"></span>potrebbe essere limitata. La progressiva <span class=\"_ _2b\"></span>focalizzazio<span class=\"_ _0\"></span>ne della <span class=\"_ _2b\"></span>Societ\u00e0 e <span class=\"_ _29\"></span>del <span class=\"ff5d\">Gruppo sull\u2019attivit\u00e0 <span class=\"_ _2b\"></span>industriale di KME <span class=\"_ _2b\"></span>SE conduce l<span class=\"_ _29\"></span>a </span>Societ\u00e0 a essere soggetta pi\u00f9 direttamente ai rischi dell\u2019<span class=\"_ _0\"></span>attivit\u00e0 di KME SE stessa.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Con <span class=\"_ _23\"></span>riferiment<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>agli <span class=\"_ _28\"></span>impatti <span class=\"_ _23\"></span>derivanti <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>flitto <span class=\"_ _23\"></span>Russia<span class=\"_ _0\"></span>-Ucraina <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>dal <span class=\"_ _28\"></span>deteriorato <span class=\"_ _28\"></span>contesto <span class=\"_ _23\"></span>macro<span class=\"_ _0\"></span>-economico <span class=\"_ _22\"></span>successivo <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>pandemia <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>Covid<span class=\"_ _0\"></span>-19 <span class=\"_ _22\"></span>ed <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>relativi <span class=\"_ _22\"></span>rischi <span class=\"_ _22\"></span>connessi <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>rimand<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>quanto <span class=\"_ _22\"></span>descritto nella <span class=\"ff5a\">Relazione sull<span class=\"ff5e\">\u2019andamento della<span class=\"_ _0\"></span></span> gestione</span>. Rischio di credito L'esposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>rischi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>sua <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>operativa <span class=\"_ _2d\"> </span>(in particolare <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>Rame). <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span>rischio <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>credito <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>definito <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>perdita <span class=\"_ _0\"></span>inaspettata <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>attivit\u00e0 finanziarie, <span class=\"_ _2b\"></span>ad <span class=\"_ _29\"></span>esempio <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>caso <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>cui <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>cliente <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>grado <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>adempiere <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>propr<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>obblighi <span class=\"_ _29\"></span>entro <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>termini previsti.  Nell'ambito <span class=\"_ _0\"></span>dell'attivit\u00e0 <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>erativa, <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>vengono <span class=\"_ _0\"></span>monitorati <span class=\"_ _0\"></span>localment<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>su <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>tinuo <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>crediti a livello locale. Vengono registrati accantonamenti per riflettere i rischi di credito. La massima esposizione a<span class=\"_ _0\"></span><span class=\"ls9\">l </span>rischio di credito si <span class=\"_ _29\"></span>riflette nel valore <span class=\"_ _29\"></span>contabile delle attivit\u00e0 finanziarie riportate nella <span class=\"_ _29\"></span>situazione patrimoniale e <span class=\"_ _28\"></span>finanziaria.<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Il <span class=\"_ _2c\"></span>Gruppo <span class=\"_ _2c\"></span>contrasta <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>credito <span class=\"_ _2c\"></span>monitorando <span class=\"_ _2c\"></span>costantemente <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"></span>crediti <span class=\"_ _28\"></span>verso <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"></span>partner commerciali <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>mediante <span class=\"_ _22\"></span>assicurazioni <span class=\"_ _22\"></span>atte <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>ridurre <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>minimo <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>rischio <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span>solvenza. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>ricorre <span class=\"_ _0\"></span>agli strumenti di mercato standard, come le lettere di <span class=\"_ _0\"></span>credito e le garanzie.<span class=\"_ _0\"></span> Per <span class=\"_ _0\"></span>quanto <span class=\"_ _22\"></span>riguarda <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>commerciali, <span class=\"_ _0\"></span>gr<span class=\"_ _0\"></span>an <span class=\"_ _0\"></span>parte <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>rischio <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>garantito<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>factoring. <span class=\"_ _0\"></span>Non <span class=\"_ _22\"></span>v<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>sono concentrazioni <span class=\"_ _2c\"></span>geografiche <span class=\"_ _2c\"></span>significative <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>rischio <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>credito. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>concentrazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>rischio <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>credito <span class=\"_ _2c\"></span>di credito <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>caso <span class=\"_ _29\"></span>dei <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>commerciali \u00e8 <span class=\"_ _2b\"></span>limitata <span class=\"_ _2b\"></span>grazie <span class=\"_ _2b\"></span>all'ampia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>eterogenea <span class=\"_ _2b\"></span>base <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>clienti. <span class=\"_ _2b\"></span> <span class=\"_ _2b\"></span>La <span class=\"_ _29\"></span>valutazione avviene <span class=\"_ _28\"></span>tramite <span class=\"_ _2c\"></span>portafogli <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>clienti <span class=\"_ _2c\"></span>sulla <span class=\"_ _2c\"></span>base <span class=\"_ _28\"></span>dell'esperienza <span class=\"_ _2c\"></span>passata, <span class=\"_ _2c\"></span>azioni <span class=\"_ _28\"></span>e/o <span class=\"_ _2c\"></span>informazioni <span class=\"_ _2c\"></span>finanziarie, nonch\u00e9 delle linee di credito. Il <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>solvibilit\u00e0 <span class=\"_ _28\"></span>derivante <span class=\"_ _28\"></span>dagli <span class=\"_ _2c\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>deriv<span class=\"_ _0\"></span>ati <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>limitato <span class=\"_ _2c\"></span>dal <span class=\"_ _28\"></span>fatto <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>i <span class=\"_ _28\"></span>relativi contratti sono stipulati esclusivamente c<span class=\"_ _0\"></span>on controparti e/o istituti di credito con<span class=\"_ _0\"></span> un rating affidabile.<span class=\"_ _0\"></span> Rischio di liquidit\u00e0<span class=\"ff57\"> </span>Il <span class=\"_ _22\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>liquidit\u00e0 <span class=\"_ _23\"></span>rappresenta <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>l'azienda <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>riesca <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>far <span class=\"_ _23\"></span>fronte <span class=\"_ _22\"></span>alle <span class=\"_ _23\"></span>proprie <span class=\"_ _22\"></span>passivit\u00e0; esso <span class=\"_ _2c\"></span>pu\u00f2 <span class=\"_ _2d\"> </span>sorgere <span class=\"_ _28\"></span>dalle <span class=\"_ _2d\"> </span>difficolt\u00e0 <span class=\"_ _2c\"></span>ad <span class=\"_ _2c\"></span>ottenere <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziamenti <span class=\"_ _2c\"></span>a <span class=\"_ _2d\"> </span>supporto <span class=\"_ _28\"></span>delle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"></span>operative <span class=\"_ _2c\"></span>nella <span class=\"_ _2d\"> </span>giusta tempistica.  La <span class=\"_ _22\"></span>Capo<span class=\"_ _0\"></span>gruppo <span class=\"_ _23\"></span>fa <span class=\"_ _22\"></span>fronte <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>fabbisogni <span class=\"_ _23\"></span>derivanti <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>debiti <span class=\"_ _23\"></span>finanziari <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>scadenza <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>dagli <span class=\"_ _22\"></span>investimenti previsti <span class=\"_ _22\"></span>attra<span class=\"_ _0\"></span>verso <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>flussi <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>gestione <span class=\"_ _22\"></span>op<span class=\"_ _0\"></span>erativa, <span class=\"_ _22\"></span>l<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>liquidi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _22\"></span>disponibile, <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>rinno<span class=\"_ _0\"></span>vo <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>finanziamento <span class=\"_ _23\"></span>dei prestiti bancari o l\u2019emissione di prestiti obbligazion<span class=\"_ _0\"></span>ari.<span class=\"ff56\"> </span>Per <span class=\"_ _0\"></span>le entit<span class=\"_ _0\"></span>\u00e0 <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>gruppo <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>gestione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>demandata,<span class=\"_ _0\"></span> in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>modo <span class=\"_ _0\"></span>centralizzato, alla<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>tesoreria del gruppo KME <span class=\"_ _29\"></span>che monitora <span class=\"_ _29\"></span>le necessit\u00e0 al <span class=\"_ _29\"></span>fine di <span class=\"_ _29\"></span>garantire livelli <span class=\"_ _29\"></span>adeguati di l<span class=\"_ _29\"></span>iquidit\u00e0 e coordina <span class=\"_ _29\"></span>l\u2019afflusso e deflu<span class=\"_ _0\"></span>sso <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>liquidit\u00e0. <span class=\"_ _0\"></span>La <span class=\"_ _0\"></span>disponibili<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>liquidit\u00e0 <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>garantita <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>flussi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _0\"></span>derivanti <span class=\"_ _0\"></span>dalle <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>del gruppo e dalle banche con cui il gruppo ha in <span class=\"_ _0\"></span>essere linee di credito a breve e lungo termine. <span class=\"_ _22\"></span> Strettamente <span class=\"_ _28\"></span>legati <span class=\"_ _28\"> </span>al <span class=\"_ _2c\"> </span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>liquidit\u00e0 <span class=\"_ _28\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>rischi <span class=\"_ _2c\"> </span>connessi <span class=\"_ _28\"></span>all\u2019indebitamento<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2c\"></span>del <span class=\"_ _28\"></span>Gruppo: <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span><span class=\"ls1\">31 </span></span>dicembre <span class=\"_ _23\"></span><span class=\"ff5d\">2022 <span class=\"_ _23\"></span>nell\u2019ambito<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>essere <span class=\"_ _23\"></span>due <span class=\"_ _23\"></span>prestiti <span class=\"_ _23\"></span>ob<span class=\"_ _0\"></span>bligazionari <span class=\"_ _23\"></span>\u201cKME <span class=\"_ _23\"></span>Group<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>SpA <span class=\"_ _23\"></span>2020<span class=\"_ _22\"></span></span>/ 2025\u201d (nominali Euro 92,8 milioni)<span class=\"_ _0\"></span><span class=\"ff56\"> </span>e \u201cKME Group SpA 2022/<span class=\"_ _0\"></span>2027\u201d, entrambi a tasso fisso<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span>Nel <span class=\"_ _0\"></span>corso <span class=\"_ _0\"></span>del<span class=\"_ _0\"></span>l\u2019esercizio <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>invece <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>rimbors<span class=\"_ _0\"></span><span class=\"ff56\">ato <span class=\"_ _0\"></span>anticipatamente <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>estito <span class=\"_ _0\"></span>obbligazionario <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>capo <span class=\"_ _22\"></span>a </span>KME SE. Inoltre, <span class=\"_ _2d\"> </span>su <span class=\"_ _2a\"> </span>alcune <span class=\"_ _2d\"> </span>fonti <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>finanziamento<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>ottenute <span class=\"_ _2d\"> </span>dal <span class=\"_ _2a\"> </span>Gruppo <span class=\"_ _2d\"> </span>sono <span class=\"_ _2d\"> </span>applicate <span class=\"_ _2a\"> </span>clausole <span class=\"_ _2d\"> </span>contrattuali, impegni e covenant il <span class=\"_ _29\"></span>cui mancato <span class=\"_ _29\"></span>rispetto pu\u00f2 essere <span class=\"_ _29\"></span>considerato quale inadempimento <span class=\"_ _29\"></span>cont<span class=\"_ _0\"></span>rattuale portando i <span class=\"_ _2b\"></span>soggetti<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>finanziatori a <span class=\"_ _2b\"></span>richiederne <span class=\"_ _2b\"></span>l\u2019im<span class=\"_ _0\"></span>mediata <span class=\"_ _2b\"></span>esigibi<span class=\"_ _0\"></span>lit\u00e0 <span class=\"_ _2b\"></span>e causando <span class=\"_ _2b\"></span>difficolt\u00e0 <span class=\"_ _29\"></span>nel <span class=\"_ _2b\"></span>reperire <span class=\"_ _29\"></span>risorse <span class=\"_ _2b\"></span>alternative.<span class=\"_ _0\"></span><span class=\"ff56 lsb\">  <span class=\"ls0\"> </span></span>Nella <span class=\"_ _0\"></span>gestione <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>esame, <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>ottica <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>garantire <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>dei <span class=\"_ _0\"></span>futuri <span class=\"_ _22\"></span>impegni <span class=\"_ _0\"></span>finanziari, <span class=\"_ _22\"></span>sia in linea c<span class=\"_ _0\"></span><span class=\"ff5d\">apitale che intere<span class=\"_ _0\"></span>ssi, il Grup<span class=\"_ _0\"></span>po pu\u00f2 <span class=\"_ _0\"></span>far ricorso alla <span class=\"_ _0\"></span>liquidit\u00e0 connessa al<span class=\"_ _0\"></span>l\u2019operativit\u00e0 del <span class=\"_ _0\"></span>settore rame </span>nonch\u00e9 alle risorse rivenienti dalle operazioni d<span class=\"_ _0\"></span>i valorizzazione di attivit\u00e0 non strategiche del Grup<span class=\"_ _0\"></span>po. <span class=\"_ _0\"></span> Rischio tasso di interesse Il <span class=\"_ _2b\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>di tasso <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>interesse <span class=\"_ _2b\"></span>a cui <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>Gruppo <span class=\"_ _2b\"></span>\u00e8 principalmente <span class=\"_ _2b\"></span>esposto <span class=\"_ _29\"></span>deriva <span class=\"_ _2b\"></span>dai prestiti <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>lu<span class=\"_ _0\"></span>ngo <span class=\"_ _29\"></span>termine con <span class=\"_ _28\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>interesse <span class=\"_ _23\"></span>vari<span class=\"_ _0\"></span>abili; <span class=\"_ _28\"></span>essi <span class=\"_ _23\"></span>espong<span class=\"_ _0\"></span>ono <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>Gruppo <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>flusso <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _28\"></span>(differentemente <span class=\"_ _28\"></span>i prestiti a tasso fisso che comportano il rischio d<span class=\"_ _0\"></span>i variazione del <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span><span class=\"ls7\">).</span> Il <span class=\"_\"> </span>Gruppo <span class=\"_\"> </span>utilizza <span class=\"_ _2a\"> </span>diverse <span class=\"_\"> </span>forme <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>finanziamento <span class=\"_\"> </span>per <span class=\"_\"> </span>supportare <span class=\"_ _2a\"> </span>i <span class=\"_\"> </span>propri <span class=\"_ _2a\"> </span>investimenti. <span class=\"_\"> </span>Pertanto, variazioni <span class=\"_ _0\"></span>importanti <span class=\"_ _0\"></span>nei <span class=\"_ _0\"></span>livelli <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>tassi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>interesse <span class=\"_ _0\"></span>potrebbero <span class=\"_ _0\"></span>comportare <span class=\"_ _0\"></span>potenziali <span class=\"_ _0\"></span>incrementi/d<span class=\"_ _0\"></span>ecrementi nel costo <span class=\"_ _0\"></span>dei fina<span class=\"_ _0\"></span>nziamenti. La <span class=\"_ _0\"></span>struttura <span class=\"_ _0\"></span>finanziaria de<span class=\"_ _0\"></span>l Gruppo<span class=\"_ _0\"></span> \u00e8 attualmente <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>lo pi\u00f9 <span class=\"_ _0\"></span>orientata ai <span class=\"_ _0\"></span>tassi fis<span class=\"_ _0\"></span>si (si vedano i prestiti obbligazionari emessi).<span class=\"_ _0\"></span> L\u2019operativit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>gestio<span class=\"_ _0\"></span>ne <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>coordinato <span class=\"_ _23\"></span>dalla <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>ria <span class=\"_ _22\"></span>tesoreria <span class=\"_ _22\"></span>che, nell\u2019ambit<span class=\"ff56\">o <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>grup<span class=\"_ _0\"></span>po <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>SE, <span class=\"_ _22\"></span>qualora riten<span class=\"_ _0\"></span>uto <span class=\"_ _0\"></span>necessario, <span class=\"_ _0\"></span>ricorre <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>stip<span class=\"_ _0\"></span>ula <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>IRS <span class=\"_ _0\"></span>(<span class=\"_ _22\"></span><span class=\"ff5a\">Interest Ra<span class=\"_ _0\"></span>te <span class=\"_ _0\"></span>Swap<span class=\"_ _0\"></span></span><span class=\"ls1b\">) </span></span>scambiando i <span class=\"_ _29\"></span>tassi <span class=\"_ _29\"></span>d'interesse variabili <span class=\"_ _29\"></span>in tassi <span class=\"_ _2b\"></span>fissi. In base <span class=\"_ _29\"></span>alla struttura <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> finanziam<span class=\"_ _29\"></span>ento che <span class=\"_ _29\"></span>di volta<span class=\"_ _29\"></span> in <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>lta si <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esenta, <span class=\"_ _0\"></span>orientata <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>meno <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>b<span class=\"_ _0\"></span><span class=\"ff5d\">reve <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>medio <span class=\"_ _22\"></span>termine, <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>all\u2019andamento <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>tassi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>mercato, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>tesoreria </span>valuta se ricorrere alla stipula di IRS.<span class=\"_ _0\"></span>  Rischio di cambio  Il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _29\"></span>opera <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>liv<span class=\"_ _0\"></span>ello <span class=\"_ _2b\"></span>internazionale <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>incipalmente <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>tramite <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>controllate <span class=\"_ _29\"></span>afferenti <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>gr<span class=\"_ _0\"></span>uppo KME <span class=\"_ _22\"></span>SE, <span class=\"_ _22\"></span>ma <span class=\"_ _22\"></span>anche <span class=\"_ _0\"></span>attr<span class=\"_ _0\"></span>averso <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>conduce <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>sue <span class=\"_ _22\"></span>transazioni <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>diverse <span class=\"_ _22\"></span>valute. <span class=\"_ _22\"></span>In tali circostanze, i ricavi sono generati in valute d<span class=\"_ _0\"></span>iverse dalla valuta funzionale del Gruppo (E<span class=\"_ _0\"></span>uro)<span class=\"_ _0\"></span>.  Il <span class=\"_ _2c\"></span>Gruppo <span class=\"_ _2c\"></span>monitora <span class=\"_ _2c\"></span>e <span class=\"_ _2c\"></span>gestisce <span class=\"_ _28\"></span>op<span class=\"_ _0\"></span>portunamente <span class=\"_ _2c\"></span>tale <span class=\"_ _2c\"></span>rischio <span class=\"_ _2c\"></span>ponendosi <span class=\"_ _2c\"></span>altres\u00ec <span class=\"_ _2c\"> </span><span class=\"ff5d\">l\u2019obi<span class=\"_ _0\"></span>ettivo <span class=\"_ _2c\"> </span>di <span class=\"_ _28\"> </span>coprire <span class=\"_ _2c\"> </span>i </span>suddetti rischi utilizzando strumenti finanziari derivati <span class=\"_ _0\"></span>quali <span class=\"ff5a\">cross currency s<span class=\"_ _0\"></span>wap</span> e contratti a termine.<span class=\"_ _0\"></span> Rischio fluttuazione valore azioni<span class=\"_ _0\"></span><span class=\"ff57\"> </span>Il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>esposto <span class=\"_ _22\"></span>alle <span class=\"_ _0\"></span>fluttuazioni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>azioni <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>otate <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>detien<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>portafoglio <span class=\"_ _0\"></span>ed <span class=\"_ _22\"></span>alle variazioni <span class=\"_ _22\"></span>dei <span class=\"_ _0\"></span>parametri <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>mercato <span class=\"_ _22\"></span>utilizzati <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _22\"></span>attraverso tecniche <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valutazione. <span class=\"_ _22\"></span>Il <span class=\"_ _22\"></span>rischio <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>oscillazion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>valori <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>tali <span class=\"_ _22\"></span>partecipazioni <span class=\"_ _22\"></span>azionarie <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>limitato <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>\u00e8 attivamente gestito con strumenti di copertura fin<span class=\"_ _0\"></span>anziaria. Rischio fluttuazione prezzo della materia prima<span class=\"_ _0\"></span> (soprattutto rame) Come <span class=\"_ _22\"></span>conseg<span class=\"_ _0\"></span>uenza <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>sue <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>commerciali, <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>Gruppo<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span>mediante <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>gruppo <span class=\"_ _23\"></span>KME, <span class=\"_ _22\"></span>\u00e8 esposto <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>legati <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>prezzi <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>materie <span class=\"_ _23\"></span>prime. <span class=\"_ _22\"></span>Tale <span class=\"_ _23\"></span>rischio <span class=\"_ _23\"></span>risulta <span class=\"_ _22\"></span>essere <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _23\"></span>significativo <span class=\"_ _23\"></span>e strategico. <span class=\"_ _0\"></span>Vengon<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>utilizzate, <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>questo <span class=\"_ _0\"></span>scopo, <span class=\"_ _22\"></span>coperture <span class=\"_ _0\"></span>con <span class=\"_ _22\"></span>transazioni <span class=\"_ _0\"></span>fisiche <span class=\"_ _22\"></span>oppure <span class=\"_ _23\"></span><span class=\"ff5a\">forward con<span class=\"_ _0\"></span>tract</span> <span class=\"_ _0\"></span>sul London Metal Exchange (LME), con<span class=\"_ _0\"></span> l\u2019obiettivo di mitigare o coprire la to<span class=\"_ _0\"></span>talit\u00e0 del rischio. I contratti posti in essere <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>concentrano<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rame. <span class=\"_ _22\"></span>A <span class=\"_ _0\"></span>tal <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>quantit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>metallo <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> entrata <span class=\"_ _0\"></span>e in<span class=\"_ _0\"></span> u<span class=\"_ _0\"></span>scita <span class=\"_ _0\"></span>vengono <span class=\"_ _0\"></span>compensate <span class=\"_ _22\"></span>ogni <span class=\"_ _0\"></span>giorno <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>residua <span class=\"_ _0\"></span>posizione <span class=\"_ _0\"></span>aperta <span class=\"_ _0\"></span>viene <span class=\"_ _0\"></span>compensata <span class=\"_ _0\"></span>mediant<span class=\"_ _0\"></span>e transazioni in modo <span class=\"_ _29\"></span>da annullare, <span class=\"_ _29\"></span>al termine di <span class=\"_ _2b\"></span>ogni giornata, il rischio aziendale <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>nesso all\u2019oscillazione dei prezzi <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>metalli. <span class=\"_ _22\"></span> <span class=\"_ _23\"></span>Nell\u2019ambito <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>suddette <span class=\"_ _23\"></span>transazi<span class=\"ff56\">oni <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>copertura, <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>fine <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>ridurre <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>correlati <span class=\"_ _23\"></span>rischi, <span class=\"_ _22\"></span>il </span>Gruppo opera con partner commerciali di adegu<span class=\"_ _0\"></span>ato <span class=\"ff5a\">standing</span>. 4.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Note esplicative al prospetto della situazione pat<span class=\"_ _0\"></span>rimoniale e finanziaria<span class=\"_ _0\"></span> consolidata  </span></span>4.1.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Immobili, impianti e macchina<span class=\"_ _0\"></span>ri Il dettaglio della voce \u00e8 il seguente: (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Terreni e fabbricati 249.390  2.766  246.624  Impianti e macchinari 212.648   -<span class=\"lsd\">  </span> 212.648  Altri beni 26.524  727  25.797  Acconti e costruzioni in corso 11.395   -<span class=\"lsd\">  </span> 11.395  Immobili, impianti e macchinari 499.957  3.493  496.464  Di seguito la suddivisione tra beni di p<span class=\"_ _0\"></span>ropriet\u00e0 e beni in <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>: (in migliaia di Euro) Di propriet\u00e0 In leasing Totale Terreni e Fabbricati 245.207  4.184  249.390  Impianti e macchinari 210.435  2.212  212.648  Altri beni 20.917  5.607  26.524  Acconti e costruzioni in corso 11.395   -<span class=\"lsd\">  </span> 11.395  Immobili, impianti e macchinari 487.954  12.003  499.957  I <span class=\"_ _2b\"></span>terreni <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>fabbricati <span class=\"_ _2b\"></span>iscritti <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>quelli <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>propriet\u00e0 <span class=\"_ _2b\"></span>utilizzati <span class=\"_ _2b\"></span>dalle <span class=\"_ _29\"></span>entit\u00e0 <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Gruppo; <span class=\"_ _2b\"></span>tra <span class=\"_ _29\"></span>questi si <span class=\"_ _0\"></span>annoverano <span class=\"_ _0\"></span>gli <span class=\"_ _22\"></span>stabilimenti <span class=\"_ _0\"></span>produttivi <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>settore <span class=\"_ _22\"></span>rame <span class=\"_ _0\"></span>(tra <span class=\"_ _0\"></span>cui <span class=\"_ _22\"></span>Osnabr\u00fcck, <span class=\"_ _0\"></span>Mansfeld <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>F<span class=\"_ _0\"></span>ornaci <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Barga) <span class=\"_ _22\"></span>e l\u2019immobile <span class=\"_ _8b\"> </span>ubicato <span class=\"_ _2e\"> </span>in <span class=\"_ _2e\"> </span><span class=\"ff56\">Milano<span class=\"lsb\">, <span class=\"_ _8b\"> </span></span>Foro <span class=\"_ _2e\"> </span>Buonaparte <span class=\"_ _2e\"> </span><span class=\"ls1\">44</span>, <span class=\"_\"> </span>sede <span class=\"_ _2e\"> </span>della <span class=\"_ _8b\"> </span>Capo<span class=\"_ _0\"></span>gruppo. <span class=\"_ _8b\"> </span>La <span class=\"_ _2e\"> </span>suddivisione <span class=\"_ _8b\"> </span>per <span class=\"_ _2e\"> </span>area </span>geografica \u00e8 la seguente: Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Immobili, impianti e macchinari 171.714  259.905  68.338  499.957  Per i beni di <span class=\"ff5d\">propriet\u00e0 i movimenti dell\u2019esercizio in <span class=\"_ _0\"></span>esame sono cos\u00ec analizzabili:<span class=\"_ _0\"></span></span> Acconti e Terreni e Impianti e imm. (in migliaia di Euro) Altri beni Totale Fabbricati macchinari materiali in corso Valore lordo  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 2.270   -<span class=\"lsd\">  </span> 2.270  Ammortamenti accumulati  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.621   -<span class=\"lsd\">  </span> 1.621  Totale al 31 dicembre 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 649   -<span class=\"lsd\">  </span> 649  Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 2.270   -<span class=\"lsd\">  </span> 2.270  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 5.287  1.580  3.522  9.886  20.275  Riclassificazioni (1.014) 6.211  1.100  (3.511) 2.786  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) IFRS 10 166.443  488.511  58.167  8.105  721.226  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) KME SE 26.509  41.180  855  871  69.415  Variazioni PPA 116.923 - - - 116.923 Incrementi nel costo per diffe<span class=\"_ _29\"></span>renze di cambio (58) (108) (21)  -<span class=\"lsd\">  </span> (187) Cessioni (costo) (299) (5.248) (986) (3.956) (10.489) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 313.791  532.126  64.907  11.395  922.219  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.621   -<span class=\"lsd\">  </span> 1.621  Riclassificazioni (420) 528  179   -<span class=\"lsd\">  </span> 287  Variazione area di consolida<span class=\"_ _29\"></span>mento (f. amm.to) IFRS 64.014  299.557  39.297   -<span class=\"lsd\">  </span> 402.868  10<span class=\"ls0\"> </span>Variazione area di consolidamento (<span class=\"_ _29\"></span>f. amm.to) KME (4) 32  23   -<span class=\"lsd\">  </span> 51  SE<span class=\"ls0\"> </span>Ammortamenti, <span class=\"ff5a\">impairment </span>e <span class=\"_ _29\"></span>svalutazioni 5.426  26.024  3.833   -<span class=\"lsd\">  </span> 35.283  Incrementi negli ammortamen<span class=\"_ _29\"></span>ti per differenze di (12) (156) (51)  -<span class=\"lsd\">  </span> (219) cambio Cessioni (fondo ammortament<span class=\"_ _29\"></span>o) (419) (4.295) (911)  -<span class=\"lsd\">  </span> (5.625) Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 68.584  321.691  43.990   -<span class=\"lsd\">  </span> 434.266  Valore lordo 313.791  532.126  64.907  11.395  922.219  Ammortamenti accumulati 68.584  321.691  43.990   -<span class=\"lsd\">  </span> 434.266  Totale al 31 dicembre 2022 245.207  210.435  20.917  11.395  487.954  La <span class=\"_ _2c\"> </span>voce <span class=\"_ _2c\"> </span>\u201c<span class=\"ff56\">v</span>ariazione <span class=\"_ _2c\"> </span>area <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>consolidamento <span class=\"_ _2c\"> </span>IFRS <span class=\"_ _2c\"> </span>10\u201d <span class=\"_ _2c\"> </span>include <span class=\"_ _2c\"> </span>gli <span class=\"_ _2c\"> </span>effetti <span class=\"_ _2c\"> </span>legati <span class=\"_ _28\"> </span>alla <span class=\"_ _2c\"> </span>disapplicazion<span class=\"_ _0\"></span>e dell\u2019eccezione al consolidamento integrale p<span class=\"_ _0\"></span>revista dall\u2019<span class=\"ff56\">IFRS 10 p<span class=\"_ _0\"></span>er le <span class=\"ff5a\">investment entities</span>. </span>Al <span class=\"_ _22\"></span>31 <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>202<span class=\"_ _0\"></span><span class=\"ff5d\">2, <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>\u201cVariazione <span class=\"_ _23\"></span>area <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>SE\u201d</span> <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>esposti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>valori contabili <span class=\"_ _0\"></span>degli immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e macchinari <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Zutphen e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>centri di <span class=\"_ _0\"></span>taglio <span class=\"_ _0\"></span>nel Regn<span class=\"_ _0\"></span>o Unito, <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>Slovacchia e in Italia acquisiti da Aurubis.  I <span class=\"_ _0\"></span>terreni <span class=\"_ _0\"></span>e i <span class=\"_ _0\"></span>fa<span class=\"_ _0\"></span>bbricati, <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>bilancio <span class=\"_ _0\"></span>consolidato<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>comprendono anc<span class=\"_ _22\"></span>ora <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>immobili <span class=\"_ _0\"></span>di Osnabr\u00fcck che sono <span class=\"_ _29\"></span>stati inc<span class=\"_ _29\"></span>lusi nell'operazione <span class=\"_ _29\"></span>di Sale <span class=\"_ _29\"></span>&amp; <span class=\"_ _29\"></span>Lease back <span class=\"_ _29\"></span>realizzata <span class=\"_ _29\"></span>nel dicembre <span class=\"_ _29\"></span>2022. In <span class=\"_ _2b\"></span>base ai requisiti degli IFRS, l'operazione \u00e8 stata contabil<span class=\"_ _0\"></span>izzata riconoscendo una passivit\u00e0 finanziaria. <span class=\"_ _0\"></span> Le attivit\u00e0 materiali con <span class=\"_ _29\"></span>un valore contabile di Euro 120.789 <span class=\"_ _29\"></span>migliaia sono utilizzate come <span class=\"_ _29\"></span>garanzia per le passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>legate <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>finanzi<span class=\"_ _0\"></span>amenti <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span><span class=\"ff5a ls1\">pool</span>; <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>relative <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _0\"></span>garantite <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>valutate pari <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _23\"></span>349.668 <span class=\"_ _23\"></span>migliaia <span class=\"_ _22\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>bilancio<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>Euro <span class=\"_ _23\"></span>330.868 <span class=\"_ _22\"></span>migliaia <span class=\"_ _23\"></span>utilizzate <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>er lettere di credito a fronte di <span class=\"_ _0\"></span>passivit\u00e0 iscritte nei debiti commerciali <span class=\"_ _0\"></span>che sono <span class=\"ff5d\">legate all\u2019acquisto <span class=\"_ _0\"></span>di metalli</span>. Gli immobili, <span class=\"_ _0\"></span>gli impianti e <span class=\"_ _0\"></span>le attrezzature <span class=\"_ _0\"></span>soggetti <span class=\"_ _0\"></span>ad ammortamento <span class=\"_ _0\"></span>sono generalmente <span class=\"_ _0\"></span>am<span class=\"_ _0\"></span>mortizzati a quote costanti; l'ammortamento iscritto si basa sulle seguenti <span class=\"_ _0\"></span>vite utili medie:<span class=\"_ _0\"></span> Vita utile Fabbricati da 25 a 50 anni Impianti e macchinari da 10 a 40 anni Altri beni da 5 a 15 anni Con riferimento ai beni in <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span> la movimentazione \u00e8 stata la seguente:<span class=\"_ _0\"></span> Acconti e Terreni e Impianti e imm. (in migliaia di Euro) Altri beni Totale Fabbricati macchinari materiali in corso Valore lordo 4.592   -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span> 4.722  Ammortamenti accumulati 1.826   -<span class=\"lsd\">  </span> 52   -<span class=\"lsd\">  </span> 1.878  Totale al 31 dicembre 2021 2.766   -<span class=\"lsd\">  </span> 78   -<span class=\"lsd\">  </span> 2.844  Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021 4.592   -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span> 4.722  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 221   -<span class=\"lsd\">  </span> 22   -<span class=\"lsd\">  </span> 243  Riclassificazioni  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Variazione area di consolidamento (c<span class=\"_ _29\"></span>osto) IFRS 10 4.129  3.230  14.099   -<span class=\"lsd\">  </span> 21.458  Incrementi nel costo per diffe<span class=\"_ _29\"></span>renze di cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Cessioni (costo) (110)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (110) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 8.832  3.230  14.251   -<span class=\"lsd\">  </span> 26.313  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021 1.826   -<span class=\"lsd\">  </span> 52   -<span class=\"lsd\">  </span> 1.878  Riclassificazioni  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Variazione area di consolida<span class=\"_ _29\"></span>mento (f. amm.to) IFRS 2.415  989  8.308   -<span class=\"lsd\">  </span> 11.712  10<span class=\"ls0\"> </span>Ammortamenti, impairme<span class=\"_ _29\"></span>nt e svalutazioni 407  28  284   -<span class=\"lsd\">  </span> 719  Incrementi negli ammortamen<span class=\"_ _29\"></span>ti per differenze di  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>cambio Cessioni (fondo ammortament<span class=\"_ _29\"></span>o)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 4.648  1.018  8.644   -<span class=\"lsd\">  </span> 14.309  Valore lordo 8.832  3.230  14.251   -<span class=\"lsd\">  </span> 26.313  Ammortamenti accumulati 4.648  1.018  8.644   -<span class=\"lsd\">  </span> 14.309  Totale al 31 dicembre 2022 4.184  2.212  5.607   -<span class=\"lsd\">  </span> 12.003  Al 31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>sottovoce <span class=\"_ _0\"></span>\u201cImpianti <span class=\"_ _0\"></span>e macchi<span class=\"_ _0\"></span>nari\u201d <span class=\"_ _0\"></span><span class=\"ff56\">includ<span class=\"_ _0\"></span>e Euro <span class=\"_ _0\"></span>165 <span class=\"_ _0\"></span>migliaia <span class=\"_ _0\"></span>relativi <span class=\"_ _0\"></span>a leasing<span class=\"_ _0\"></span> </span>finanziari <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>dello<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>IAS <span class=\"_ _22\"></span>17<span class=\"_ _0\"></span>. <span class=\"_ _22\"></span>Si <span class=\"_ _22\"></span>precisa <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>che <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _22\"></span>\u201cAttivit\u00e0 <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>correnti detenute <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _28\"></span>vendita\u201d <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>inclusi <span class=\"_ _28\"></span>diritti <span class=\"_ _28\"></span>d\u2019uso <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>365 <span class=\"_ _28\"></span>migliaia. <span class=\"_ _28\"></span>L\u2019ammontare <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>beni <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>l<span class=\"_ _22\"></span><span class=\"ff56\">easing </span>rappresenta <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span>valore <span class=\"_ _8b\"> </span>dei <span class=\"_ _2e\"> </span>diritti <span class=\"_\"> </span>d'uso <span class=\"_ _8b\"> </span>relativi <span class=\"_ _8b\"> </span>a <span class=\"_ _8b\"> </span>contratti <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>locazione/nolegg<span class=\"_ _0\"></span>io <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>immobili, <span class=\"_ _8b\"> </span>impianti <span class=\"_ _8b\"> </span>e macchinari; <span class=\"_ _23\"></span>nella <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _23\"></span>\u201cdebiti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie\u201d <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>iscritte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>corrispondenti <span class=\"_ _23\"></span>passivit\u00e0. <span class=\"_ _23\"></span>Gli <span class=\"_ _22\"></span>effetti <span class=\"_ _23\"></span>di conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>iscritti <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>interessi <span class=\"_ _23\"></span>passivi <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>oneri <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>anziari <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>ammortamenti <span class=\"_ _0\"></span>nel <span class=\"_ _23\"></span>conto economico <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>solidato. <span class=\"_ _29\"></span>I <span class=\"_ _2b\"></span>contratti <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>locazione/noleggio a <span class=\"_ _2b\"></span>breve <span class=\"_ _2b\"></span>termine non <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>tabilizzati <span class=\"_ _2b\"></span>nella presente voce ma tra gli \u201cAltri costi operativi\u201d.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>4.2.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Investimenti immobiliari Rispetto <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"></span>31 <span class=\"_ _2c\"> </span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _2c\"></span>2021 <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"></span>voce <span class=\"_ _2d\"> </span>si <span class=\"_ _2c\"></span>incrementa <span class=\"_ _2d\"> </span>significativamente <span class=\"_ _2c\"></span>per <span class=\"_ _2d\"> </span>effetto <span class=\"_ _2c\"></span>della <span class=\"_ _2d\"> </span>variazione dell\u2019area <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>relativa <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE; <span class=\"_ _23\"></span>trattasi <span class=\"_ _28\"> </span>di <span class=\"_ _28\"></span>terreni <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>fabbricati <span class=\"_ _23\"></span>po<span class=\"_ _0\"></span>sseduti <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>fine <span class=\"_ _28\"></span>di percepire <span class=\"_ _2f\"> </span>cano<span class=\"_ _0\"></span>ni <span class=\"_ _2f\"> </span>d'affitto <span class=\"_ _41\"> </span>o <span class=\"_ _41\"> </span>per <span class=\"_ _2f\"> </span>l'apprezzamen<span class=\"_ _0\"></span>to <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span>capitale <span class=\"_ _41\"> </span>investito <span class=\"_ _2f\"> </span>che <span class=\"_ _41\"> </span>originano <span class=\"_ _41\"> </span>flussi <span class=\"_ _2f\"> </span>fin<span class=\"_ _0\"></span>anziari indipendenti dalle altre attivit\u00e0 possedute dalle entit\u00e0 del Grupp<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>. (in migliaia di Euro) Totale al 31 dicembre 2021 32  Variazione per area di cons<span class=\"_ _29\"></span>olidamento IFRS 10 71.573  Incrementi <span class=\"ff5d\">dell\u2019esercizio</span> 1.<span class=\"ls0\">231  </span>Variazioni PPA (1.811) Riclassificazioni (2.200) Rettifiche di <span class=\"ff5a\">fair value</span> (650) Totale al 31 dicembre 2022 68.175  Di seguito la ripartizione per area geografica:<span class=\"_ _0\"></span> Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Investimenti immobiliari 60.223  7.952   -<span class=\"lsd\">  </span> 68.175  La voce comprende una serie di complessi immobiliari principalmente afferenti alle con<span class=\"_ _0\"></span>trollate italiane attive <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>settore <span class=\"_ _23\"></span>immobiliare <span class=\"_ _22\"></span>(Immobiliare <span class=\"_ _23\"></span>Pictea <span class=\"_ _23\"></span>Srl <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>Natural <span class=\"_ _22\"></span>Capital <span class=\"_ _28\"></span>Italia <span class=\"_ _22\"></span>S<span class=\"_ _0\"></span>B <span class=\"_ _23\"></span>SpA) <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>include <span class=\"_ _22\"></span>complessi<span class=\"_ _0\"></span> immobiliari <span class=\"_\"> </span>di <span class=\"_\"> </span>Varedo/Limbiate <span class=\"_\"> </span>(MB), <span class=\"_\"> </span>di <span class=\"_\"> </span>Ivrea <span class=\"_\"> </span>(TO) <span class=\"_\"> </span>e <span class=\"_\"> </span>di <span class=\"_\"> </span>Limestre<span class=\"_ _29\"></span> <span class=\"_\"> </span>(PT), <span class=\"_\"> </span>una <span class=\"_\"> </span>porzione <span class=\"_\"> </span>del <span class=\"_\"> </span>complesso industriale <span class=\"_ _2b\"></span>sito <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>Fornaci <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Barga <span class=\"_ _2b\"></span>(LU), <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>fabbricato <span class=\"_ _2b\"></span>ubicato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>Firenze <span class=\"_ _29\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> <span class=\"_ _2b\"></span>gravato <span class=\"_ _2b\"></span>da <span class=\"_ _2b\"></span>ipoteca <span class=\"_ _29\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>complesso </span></span></span></span>industriale <span class=\"_ _23\"></span>sito <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>Serravalle <span class=\"_ _23\"></span>Scrivia <span class=\"_ _22\"></span>(AL) <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>terreni <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>fabbricati <span class=\"_ _23\"></span>appartenenti <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Grundst\u00fccksgesells<span class=\"_ _0\"></span>chaft SE &amp; Co. KG in Germania.<span class=\"_ _0\"></span> Il valore degli <span class=\"_ _0\"></span>investimenti immobiliari r<span class=\"_ _0\"></span>appresenta i<span class=\"_ _0\"></span><span class=\"ls9\">l </span><span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> identificato <span class=\"_ _0\"></span>dagli Amminsitratori <span class=\"_ _0\"></span>sulla base <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>valutazioni <span class=\"_\"> </span>effettuate <span class=\"_\"> </span>da <span class=\"_ _2a\"> </span>esperti <span class=\"_\"> </span>este<span class=\"_ _29\"></span>rni <span class=\"_\"> </span>indipendenti <span class=\"_\"> </span>con <span class=\"_ _2a\"> </span>qualifiche <span class=\"_\"> </span>professionali <span class=\"_ _2a\"> </span>riconosciute <span class=\"_\"> </span>e pertinenti, oppure di <span class=\"_ _29\"></span>valutazioni effettuate da <span class=\"_ _29\"></span>personale tecnico <span class=\"_ _29\"></span>della societ\u00e0. <span class=\"_ _29\"></span>Le variazioni del <span class=\"ff5a\">fair val<span class=\"_ _29\"></span>ue<span class=\"ff56\"> sono </span></span>registrate <span class=\"_ _0\"></span>nell'utile <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>perdita <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>esercizio; <span class=\"_ _0\"></span>tale <span class=\"_ _0\"></span><span class=\"ff5a ls9\">fa<span class=\"_ _0\"></span><span class=\"ls0\">ir <span class=\"_ _0\"></span>value</span></span> <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>\u00e8 basato <span class=\"_ _22\"></span>su dati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>osservabili <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>\u00e8 classificato come <span class=\"ff5a\">fair value</span> di<span class=\"_ _0\"></span> livello 3, che venga misurato su base rego<span class=\"_ _0\"></span>lare. Il <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>ello <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>valutazione <span class=\"_ _23\"></span>prende <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>considerazione <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>flusso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>generato dagli <span class=\"_ _22\"></span>immobili<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>includendo <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>previsto <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>aumento <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>canoni <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>locazione, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>perio<span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>sfitto, <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>tassi <span class=\"_ _22\"></span>di occupazione, <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>degli <span class=\"_ _22\"></span>incentivi <span class=\"_ _0\"></span>agli <span class=\"_ _22\"></span>inquilini, <span class=\"_ _0\"></span>ad <span class=\"_ _0\"></span>esempio <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>periodi <span class=\"_ _22\"></span>senza <span class=\"_ _0\"></span>canone, <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>tutti <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>che non <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>coperti <span class=\"_ _22\"></span>dagli <span class=\"_ _23\"></span>inquilini. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>flusso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>previsto <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>attualizz<span class=\"_ _0\"></span>ato <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto corretti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio<span class=\"_ _0\"></span>. <span class=\"_ _23\"></span>Oltre <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>fattori, <span class=\"_ _28\"></span>nella <span class=\"_ _23\"></span>valutazione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>tiene <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>qu<span class=\"_ _0\"></span>alit\u00e0 dell'edificio <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>della <span class=\"_ _2d\"> </span>sua <span class=\"_ _2c\"> </span>ubicazione, <span class=\"_ _2d\"> </span>dell'affidabilit\u00e0 <span class=\"_ _2d\"> </span>creditizia <span class=\"_ _2c\"></span>d<span class=\"_ _0\"></span>ell'inquilino <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>della <span class=\"_ _2d\"> </span>durata <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>rapporto <span class=\"_ _2d\"> </span>di locazione. Ad <span class=\"_ _29\"></span>esempio, il <span class=\"_ _29\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _29\"></span>stimato <span class=\"_ _29\"></span>aumenterebbe (diminuirebbe) se <span class=\"_ _2b\"></span>l'aumento previsto degli affitti <span class=\"_ _2b\"></span>di </span></span>mercato <span class=\"_ _29\"></span>fosse <span class=\"_ _29\"></span>pi\u00f9 <span class=\"_ _29\"></span>alto <span class=\"_ _29\"></span>(pi\u00f9 <span class=\"_ _2b\"></span>basso), se <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>perio<span class=\"_ _0\"></span>di di <span class=\"_ _2b\"></span>sfitto <span class=\"_ _29\"></span>fossero <span class=\"_ _29\"></span>pi\u00f9 <span class=\"_ _29\"></span>brevi <span class=\"_ _29\"></span>(pi\u00f9 <span class=\"_ _29\"></span>lunghi), <span class=\"_ _29\"></span>se <span class=\"_ _2b\"></span>il tasso di <span class=\"_ _2b\"></span>occupazione fosse pi\u00f9 alto (pi\u00f9 basso) e se il tasso di sconto corretto per il<span class=\"_ _0\"></span> rischio fosse pi\u00f9 basso (pi\u00f9 alto).<span class=\"_ _0\"></span> I <span class=\"_ _2d\"> </span>pagamenti <span class=\"_ _2d\"> </span>minimi <span class=\"_ _2c\"> </span>fu<span class=\"_ _0\"></span>turi <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>ricevere <span class=\"_ _2c\"> </span>per <span class=\"_ _2d\"> </span>contratti <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>affitto <span class=\"_ _2d\"> </span>non <span class=\"_ _2d\"> </span>annullabili <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 ammontano ad Euro 1,1 milioni (entr<span class=\"_ _0\"></span><span class=\"ff5d\">o l\u2019anno) e 2 milioni nell\u2019o<span class=\"_ _0\"></span>rizzonte temporale tra uno e cinque anni.<span class=\"_ _0\"></span></span> 4.3.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Attivit\u00e0 immateriali (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Software<span class=\"ff56\">, brevetti e licenze </span>23.515   -<span class=\"lsd\">  </span> 23.515  Acconti e costruzioni in corso 2.184   -<span class=\"lsd\">  </span> 2.184  Altre 28.049  12  28.037  Avviamento 370.316   -<span class=\"lsd\">  </span> 370.316  Attivit\u00e0 immateriali 424.064  12  424.052  Nel corso dell\u2019esercizio <span class=\"ff56\">le movimentazioni so<span class=\"_ _0\"></span>no cos\u00ec analizzabili: </span>Software, Imm. (in migliaia di Euro) brevetti e immateriali  Altre Avviamento Totale licenze in corso Valore lordo  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 30   -<span class=\"lsd\">  </span> 30  Ammortamenti accumulati  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 18   -<span class=\"lsd\">  </span> 18  Totale al 31 dicembre 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 12   -<span class=\"lsd\">  </span> 12<span class=\"ls0\">  </span>Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 30   -<span class=\"lsd\">  </span> 30  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 388  305  268  250  1.211  Riclassificazioni 146  839   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 985  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) IFRS 10 33.560  1.134  655  479.516  514.865  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) KME SE 688   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 688  Variazioni PPA 9.031   -<span class=\"lsd\">  </span> 29.530  (109.450) (70.889) Decrementi (costo) (222) (94)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (316) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 43.591  2.184  30.483  370.316  446.574  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021  -<span class=\"lsd\">  </span> 2.976  18  199.368  202.362  Variazione area di consolida<span class=\"_ _29\"></span>mento (fondo) IFRS 10 17.525   -<span class=\"lsd\">  </span> 320   -<span class=\"lsd\">  </span> 17.845  Variazione area di consolida<span class=\"_ _29\"></span>mento (fondo) KME SE  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Ammortamenti,<span class=\"ff5a\"> impairment</span> e <span class=\"_ _29\"></span>svalutazioni 1.652   -<span class=\"lsd\">  </span> 2.096   -<span class=\"lsd\">  </span> 3.748  Riclassificazioni 1.009   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.009  Decrementi (fondo amm<span class=\"_ _29\"></span>ortamento) (110)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (110) Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 20.076   -<span class=\"lsd\">  </span> 2.434   -<span class=\"lsd\">  </span> 22.510  Valore lordo 43.591  2.184  30.483  370.316  446.574  Ammortamenti accumulati 20.076   -<span class=\"lsd\">  </span> 2.434   -<span class=\"lsd\">  </span> 22.510  Totale al 31 dicembre 2022 23.515  2.184  28.049  370.316  424.064  La <span class=\"_ _2b\"></span>voce, <span class=\"_ _2b\"></span>rico<span class=\"_ _0\"></span>nducibile <span class=\"_ _2b\"></span>principalmente<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>a<span class=\"ff5d\">l <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>degli <span class=\"_ _2b\"></span>avviamenti, <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>incrementa <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"ff56\">in <span class=\"_ _2b\"></span>esame </span></span>a fronte del primo consolidamento delle controllate KME SE e <span class=\"_ _0\"></span>CULTI Milano, avvenuto al 30 aprile 2022, in applicazione <span class=\"_ _2b\"></span>delle previsioni <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>paragrafo <span class=\"_ _2b\"></span>B100 <span class=\"_ _29\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>10 e <span class=\"_ _2b\"></span>quindi <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>requisiti <span class=\"_ _29\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>3 (Aggregazioni aziendali). -  Il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>immateriali, <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>dell\u2019avv<span class=\"_ _0\"></span>iamento, <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>vita <span class=\"_ _2b\"></span>utile <span class=\"_ _2b\"></span>definita <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>rappresenta <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore del costo al netto degli ammortamenti registrati.<span class=\"_ _0\"></span>  Vita utile Attivit\u00e0 immateriali a vita util<span class=\"_ _29\"></span>e definita da 3 <span class=\"ls21\">a </span>10 anni Al <span class=\"_ _22\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>2022<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _23\"></span>iscritte <span class=\"_ _22\"></span>riduzioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>voce<span class=\"_ _0\"></span>; <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>avviamenti <span class=\"_ _23\"></span>iscritti <span class=\"_ _22\"></span>in bilancio sono stati sottoposti ad <span class=\"_ _0\"></span><span class=\"ff5a\">impairment test</span>. Di seguito la ripartizione per area geografica:<span class=\"_ _0\"></span> Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Attivit\u00e0 immateriali (escl. Avvi<span class=\"_ _29\"></span>amento) 42.086  10.985  677  53.748  Le \u201cvaria<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>PPA\u201d <span class=\"_ _0\"></span>inclusono <span class=\"_ _0\"></span>l\u2019effetto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>processo <span class=\"_ _22\"></span>di allocazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>quale <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>emersi plusvalori <span class=\"_ _29\"></span>relativi <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>marchi <span class=\"_ _2b\"></span>facenti capo <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>gruppo CU<span class=\"_ _29\"></span>LTI <span class=\"_ _2b\"></span>(Euro 9.031 <span class=\"_ _2b\"></span>migliaia) <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>alle <span class=\"_ _29\"></span>liste <span class=\"_ _2b\"></span>clienti <span class=\"_ _29\"></span>facenti <span class=\"_ _2b\"></span>capo<span class=\"_ _0\"></span> ad <span class=\"_ _28\"></span>alcune <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>gruppo <span class=\"_ _2c\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _2c\"></span>(Euro <span class=\"_ _2c\"></span>29.530 <span class=\"_ _2c\"></span>migliaia). <span class=\"_ _2c\"></span>Il <span class=\"_ _28\"></span>decrement<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Euro <span class=\"_ _2c\"></span>109.450 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>\u00e8 relativo <span class=\"_ _2f\"> </span>all<span class=\"ff5d\">\u2019allo<span class=\"_ _0\"></span>cazione <span class=\"_ _2f\"> </span>dell\u2019avviamento <span class=\"_ _41\"> </span>alle <span class=\"_ _2f\"> </span>diverse <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _2f\"> </span>e <span class=\"_ _41\"> </span>passi</span>vit\u00e0 <span class=\"_ _41\"> </span>di <span class=\"_ _2f\"> </span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>tenendo <span class=\"_ _41\"> </span>altres\u00ec <span class=\"_ _2f\"> </span>in considerazione <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>effetti <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>PPA <span class=\"_ _28\"></span>effettu<span class=\"_ _0\"></span>ata <span class=\"_ _28\"></span>dal <span class=\"_ _28\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>capo <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipata <span class=\"_ _2c\"></span>Magnet <span class=\"_ _28\"></span>(Euro 11.174 <span class=\"_ _22\"></span>migliaia); <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>ulteriori <span class=\"_ _22\"></span>dettagli <span class=\"_ _22\"></span>sui <span class=\"_ _22\"></span>valo<span class=\"_ _0\"></span>ri <span class=\"_ _22\"></span>identicati <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>sede <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>PPA <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>rimanda <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quanto <span class=\"_ _22\"></span>rappresentato nell<span class=\"ff5d\">\u2019informativa di seguito riportata.<span class=\"_ _0\"></span></span> Avviamento (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Cash Generating Unit Rame               342.540                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>342.540  Cash Generating Unit Profumi e Cosme<span class=\"_ _29\"></span>si                  27.776                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>27.776  Avviamento               370.316                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>         370.316    La <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>ecedente <span class=\"_ _0\"></span>tabella <span class=\"_ _22\"></span>evide<span class=\"ff5d\">nzia <span class=\"_ _22\"></span>l\u2019allocazione <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>avviamenti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span><span class=\"ff5a\">Cash <span class=\"_ _22\"></span>Generating <span class=\"_ _22\"></span>Unit</span></span>, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>coerenza con il settore di operativit\u00e0 del Gruppo<span class=\"_ _0\"></span>; la vita utile dell'avviamento \u00e8 indefinita.<span class=\"_ _0\"></span> L<span class=\"ff5d\">\u2019avviamento <span class=\"_ _2d\"> </span>iscritto <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span>31</span> <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2c\"></span>da <span class=\"_ _2d\"> </span>aggregazioni <span class=\"_ _2d\"> </span>aziendali <span class=\"_ _2c\"></span>e, <span class=\"_ _2d\"> </span>nello <span class=\"_ _2c\"> </span>specifico, <span class=\"_ _2d\"> </span>dal consolidamento <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>gruppo <span class=\"_ _22\"></span>KME, <span class=\"_ _22\"></span>attivo <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>settore <span class=\"_ _22\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _22\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>CULTI <span class=\"_ _0\"></span>Milano, <span class=\"_ _23\"></span>attivo <span class=\"_ _0\"></span>nel <span class=\"_ _22\"></span>settor<span class=\"_ _0\"></span>e dei profumi e della cosmesi. <span class=\"_ _0\"></span> Aggregazioni aziendali Contabil<span class=\"ff5d\">mente <span class=\"_ _0\"></span>(par. <span class=\"_ _0\"></span>B100 <span class=\"_ _0\"></span>dell\u2019IFRS <span class=\"_ _0\"></span>10)<span class=\"_ _0\"></span></span>, <span class=\"_ _0\"></span>infatti, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span><span class=\"ff5d\">\u201c</span>cambi<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>stato<span class=\"ff5d\">\u201d <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>e</span>ntit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>i<span class=\"ls1\">nv</span>estimento \u00e8 <span class=\"_ _0\"></span><span class=\"ls0\">stata <span class=\"_ _0\"></span>considerata <span class=\"_ _0\"></span>com<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione <span class=\"_ _22\"></span>presunta. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span></span>delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione </span>presunta <span class=\"_ _22\"></span>ha <span class=\"_ _0\"></span>rappresenta<span class=\"ls9\">to</span> <span class=\"_ _22\"></span><span class=\"ff5d\">il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _22\"></span>presunto <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>determinazione <span class=\"_ _22\"></span>dell\u2019avviamento. <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>cambio <span class=\"_ _22\"></span>di </span>stato <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>considerato <span class=\"_ _0\"></span><span class=\"ff5d\">infatti <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span>\u2019acquisizione, <span class=\"_ _0\"></span>cio<span class=\"_ _0\"></span>\u00e8</span> <span class=\"_ _0\"></span><span class=\"ff5d\">un<span class=\"_ _0\"></span>\u2019operazione <span class=\"_ _0\"></span>con <span class=\"_ _22\"></span>cui <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>attua <span class=\"_ _22\"></span>lo <span class=\"_ _0\"></span>scambio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni </span>aziendali <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>quello <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>consolidata) <span class=\"_ _23\"></span>contro <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>(<span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>della partecipazione); <span class=\"_ _23\"></span>ne <span class=\"_ _28\"></span>deriva <span class=\"_ _23\"></span>quin<span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>l\u2019applicazione <span class=\"_ _28\"></span>del<span class=\"ff56\"> <span class=\"_ _28\"></span></span>principio <span class=\"_ _23\"></span>contabile <span class=\"_ _28\"></span>IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _28\"></span>\u201cAggregazioni <span class=\"_ _23\"></span>aziendali\u201d <span class=\"_ _28\"></span>e l\u2019effettuazione del processo di \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Purchase Price Allocation<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d </span>(\u201cPPA\u201d) <span class=\"ff56\">come illustrato nel prosieguo.<span class=\"_ _0\"></span> </span>Nello <span class=\"_ _22\"></span>specifico, <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>quella <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>acquisizione <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esunta <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>30 <span class=\"_ _22\"></span>aprile <span class=\"_ _23\"></span>2022 come data di riferimento contabile pi\u00f9 prossima alla data d<span class=\"_ _0\"></span>i cambio di stato (22 aprile 2022)<span class=\"_ _0\"></span>. L'avviamento <span class=\"_ _28\"></span>iscritto, <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>producendo <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>modo <span class=\"_ _28\"></span>autonomo, <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>allocato <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>due <span class=\"_ _28\"></span>unit\u00e0 <span class=\"_ _28\"></span>di business generatrici di flussi finanziari (<span class=\"ff5a\">Cash Generating Unit<span class=\"ff5d\">, anche \u201c</span></span><span class=\"ls18\">CGU</span><span class=\"ff5d\">\u201d</span>) in cui viene suddivisa <span class=\"ff5d\">l\u2019attivit\u00e0 </span>dell\u2019aggregazione <span class=\"_ _0\"></span>aziendale: <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>profumi <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>della cosmesi.<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>L\u2019identificazione <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>CGU \u00e8 <span class=\"_ _28\"></span>stata <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>coerentemente <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>informazioni <span class=\"_ _2c\"></span>relative <span class=\"_ _28\"></span>ai<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>settori <span class=\"_ _2c\"></span>operativi <span class=\"_ _2c\"></span>della <span class=\"_ _28\"></span>Socie<span class=\"_ _22\"></span>t\u00e0, <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>sensi <span class=\"_ _28\"></span>de<span class=\"_ _0\"></span>l principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>internazionale <span class=\"_ _0\"></span>IFRS <span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>nonch\u00e9 <span class=\"_ _22\"></span>tenendo <span class=\"_ _0\"></span>conto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>liv<span class=\"_ _0\"></span>ello <span class=\"_ _0\"></span>inferiore <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>Societ\u00e0, <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>fini gestionali, monitora l\u2019andamento delle partecipate. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Pi\u00f9 <span class=\"_ _3b\"> </span>in <span class=\"_ _3b\"> </span>dettaglio, <span class=\"_ _3b\"> </span>l\u2019avviamento <span class=\"_ _3b\"> </span><span class=\"ff56\">in<span class=\"_ _0\"></span>izialmente <span class=\"_ _3b\"> </span>iscritto <span class=\"_ _3b\"> </span></span>nell\u2019<span class=\"_ _0\"></span>esercizio <span class=\"_ _3b\"> </span><span class=\"ff56\">accog<span class=\"ls9\">lie<span class=\"ls1\">va</span></span> <span class=\"_ _3b\"> </span><span class=\"ls9\">il <span class=\"_ _3b\"> </span></span>disavanz<span class=\"ls1\">o <span class=\"_ _3b\"> </span></span>da </span>consolidamento, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>365.260 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>tra <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _0\"></span>teorico <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>primo <span class=\"_ _22\"></span>consolidamento delle <span class=\"_ _0\"></span>partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>relativi <span class=\"_ _22\"></span>valori <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>patrimonio <span class=\"_ _0\"></span>netto <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>suddetta <span class=\"_ _0\"></span>data, tenuto conto delle interessenze di pertinenza della<span class=\"_ _0\"></span> Capogruppo.  Variazione area di consolida<span class=\"_ _29\"></span>mento (in migliaia di Euro) Aggregazione IFRS 3 Originario provvisoria Cash Generating Unit<span class=\"ff56\"> Rame  </span>             99.684   <span class=\"fc5 sc0\"> </span>             336.696  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Cash Generating Unit<span class=\"ff56\"> Profumi e Cosmesi <span class=\"_ _29\"></span> </span>                  3.398   <span class=\"fc5 sc0\"> </span>               28.564  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Avviamento ante PPA 103.082 365.260 Coerentemente <span class=\"_ _22\"></span>ai <span class=\"_ _23\"></span>requisiti <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>rmativi <span class=\"_ _23\"></span><span class=\"ff5d\">del <span class=\"_ _22\"></span>paragrafo <span class=\"_ _23\"></span>45 <span class=\"_ _22\"></span>dell\u2019IFRS <span class=\"_ _23\"></span>3, <span class=\"_ _23\"></span></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>procedu<span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>una <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tazione delle <span class=\"_ _2b\"></span>attivit\u00e0 nette <span class=\"_ _2b\"></span>acquisite <span class=\"_ _2b\"></span>e quindi <span class=\"_ _2b\"></span>alla <span class=\"_ _29\"></span><span class=\"ff5d\">contabilizzazione <span class=\"_ _29\"></span>iniziale <span class=\"_ _2b\"></span>entro il<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>\u201cperiodo di <span class=\"_ _2b\"></span>valutazione\u201d <span class=\"_ _2b\"></span>di ma<span class=\"_ _29\"></span>ssimi </span>12 mesi dalla data di acquisizione.<span class=\"_ _0\"></span> Tale di<span class=\"_ _0\"></span>savanzo <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>consolidamento, <span class=\"_ _0\"></span>alloc<span class=\"_ _0\"></span>ato <span class=\"_ _0\"></span>inizialmente <span class=\"_ _0\"></span><span class=\"ff5d\">interamente <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce \u201cAttivit\u00e0 <span class=\"_ _0\"></span>im<span class=\"_ _0\"></span>materiali\u201d</span> (Euro 365.260 migliaia), a fronte <span class=\"_ _29\"></span>di quanto emerso in sede <span class=\"_ _29\"></span>di PPA \u00e8 <span class=\"_ _29\"></span>stato parzialmente ri-allocato alle singole attivit\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span><span class=\"ff5d\">pass<span class=\"_ _0\"></span>ivit\u00e0 <span class=\"_ _29\"></span>iscritte <span class=\"_ _2b\"></span>in bilancio; <span class=\"_ _2b\"></span>l\u2019avviamento residuo <span class=\"_ _2b\"></span>dall\u2019aggregazione \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>ad <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>266.9<span class=\"_ _0\"></span><span class=\"ff56\">84 migliaia. </span></span>Come <span class=\"_ _29\"></span>indicato dai <span class=\"_ _2b\"></span>principi contabili, <span class=\"_ _29\"></span>infatti, <span class=\"_ _2b\"></span>l<span class=\"_ _0\"></span><span class=\"ff5d\">\u2019allocazione del <span class=\"_ _2b\"></span>valore <span class=\"ff56\">\u00e8 <span class=\"_ _2b\"></span>q<span class=\"_ _0\"></span>uindi variata <span class=\"_ _2b\"></span>in funzione <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair </span></span></span>value<span class=\"ff56\"> delle attivit\u00e0 e <span class=\"_ _0\"></span>passivit\u00e0 sui cui <span class=\"_ _0\"></span>\u00e8 stato allocato <span class=\"ff5d\">il <span class=\"_ _0\"></span>\u201cprezzo\u201d dell\u2019acquisizione nell\u2019ambito d<span class=\"_ _0\"></span>el processo di </span></span>Purchase Price Allocation<span class=\"ff56\"> da effettuare <span class=\"_ _0\"></span>ai sensi dell<span class=\"ff5d\">\u2019IFRS 3.<span class=\"_ _0\"></span></span> </span>L\u2019importo <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>tali <span class=\"_ _2e\"> </span>avviamenti, <span class=\"_ _2f\"> </span>inclusi <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>ell<span class=\"ff56\">i <span class=\"_ _2f\"> </span>originari <span class=\"_ _2e\"> </span>derivanti <span class=\"_ _2f\"> </span>dalle <span class=\"_ _2e\"> </span>due <span class=\"_ _2f\"> </span>CGU <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>incrementi<span class=\"_ _0\"></span> </span>dell\u2019esercizio ammontano ad Euro 370.316 migliaia.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Variazione area di Fondo Totale Incrementi consolidamento IFRS 10 Svalutazione 31/12/22 (in migliaia di Euro) Aggregazione  Originario IFRS 3 definitiva Cash Generating Unit Rame       99.684   <span class=\"fc5 sc0\"> </span>         242.856   <span class=\"fc5 sc0\"> </span>               -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>342.540    Cash Generating Unit Profumi e Cosmesi <span class=\"_ _29\"></span>         3.398   <span class=\"fc5 sc0\"> </span>          24.128               250   <span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>  <span class=\"ls0\">27.776    </span>Avviamento post PPA     <span class=\"ls0\">103.082   <span class=\"fc5 sc0\"> </span></span>        266.984               250   <span class=\"fc5 sc0\"> </span>                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>370.316    Purchase Price Allocation (PPA) Di seguito si rappresentano i plu<span class=\"_ _0\"></span>svalori/minusvalori identificati in<span class=\"_ _0\"></span> sede di PPA. CGU CGU Rame Profumi e Totale Cosmesi Originario 99.684 3.398 103.082 Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 provvis<span class=\"_ _29\"></span>oria (A) 336.696 28.564 365.260 Goodwill da analizzare in se<span class=\"_ _29\"></span>de PPA 436.380 31.962 468.342 Effetti PPA sulle voci di bil<span class=\"_ _29\"></span>ancio 29.530  9.031  38.561  Attivit\u00e0 immateriali 116.923   -<span class=\"lsd\">  </span> 116.923  Immobili, impianti e macchinari<span class=\"_ _0\"></span> (1.811)  -<span class=\"lsd\">  </span> (1.811) Investimenti immobiliari (11.184)  -<span class=\"lsd\">  </span> (11.184) Partecipazioni (4.627) (2.075) (6.702) Patrimonio netto di Terzi (42.427) (2.520) (44.947) Passivit\u00e0 per imposte differite 7.436   -<span class=\"lsd\">  </span> 7.436  Attivit\u00e0 non correnti detenute per la vendita<span class=\"_ _0\"></span> Valori allocati PPA (B)            93.840              4.436      <span class=\"ls0\">98.276   <span class=\"fc5 sc0\"> </span></span>Originario        <span class=\"lsb\">   </span>99.684           <span class=\"lsb\">   </span>3.398    10<span class=\"ls0\">3.082   <span class=\"fc5 sc0\"> </span></span>Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 definiti<span class=\"_ _29\"></span>va (A - <span class=\"ls63\">B)</span>          242.856            24.128    266.984   <span class=\"fc5 sc0\"> </span>Goodwill residuo post PP<span class=\"_ _29\"></span>A           342.540            27.526    370.066   <span class=\"fc5 sc0\"> </span>Impairment test del valore degli avviamenti <span class=\"_ _0\"></span>iscritti in bilancio al <span class=\"_ _0\"></span>31 dicembre <span class=\"ls1\">2022</span> L\u2019avviamento <span class=\"_ _2e\"> </span>acquisito <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>un\u2019agg<span class=\"_ _0\"></span>regazione <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _8b\"> </span>alloca<span class=\"_ _0\"></span>to <span class=\"_ _8b\"> </span>alle <span class=\"_ _2e\"> </span>unit\u00e0 <span class=\"_ _2e\"> </span>generatrici <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>flussi finanziari. <span class=\"_ _2b\"></span>L\u2019avviamento, iscritto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quanto <span class=\"_ _29\"></span>rappresentativo <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>capacit\u00e0 <span class=\"_ _2b\"></span>reddituali <span class=\"_ _2b\"></span>fu<span class=\"_ _0\"></span>ture <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>CGU, <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>indi delle <span class=\"_ _2a\"> </span>partecipate, <span class=\"_ _2a\"> </span>periodicamente <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>sotto<span class=\"_ _0\"></span>posto <span class=\"_\"> </span>test <span class=\"_ _2d\"> </span>di <span class=\"_\"> </span>verifica <span class=\"_ _2d\"> </span>del <span class=\"_\"> </span>valore, <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>livello <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>sing<span class=\"_ _0\"></span>ola <span class=\"_ _2a\"> </span>CGU, <span class=\"_ _2a\"> </span>per identificare <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>riduzioni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>identificarsi <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _0\"></span>della <span class=\"_ _23\"></span>differenza <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>iscrizione dell\u2019avviamento <span class=\"_ _2d\"> </span>ed <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>realizzo, <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"> </span>maggiore <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span><span class=\"ls1\">de</span></span></span>ll\u2019unit\u00e0 <span class=\"_ _2d\"> </span>generatrice <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>flussi finanziari, al netto degli eventuali costi di v<span class=\"_ _0\"></span>endita, e l\u2019eventuale relativo valore d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Vi <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>una <span class=\"_ _0\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>ogniqualvolta <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">carrying <span class=\"_ _22\"></span>amount</span>\u201d) <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un\u2019attivit\u00e0 <span class=\"_ _22\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _0\"></span>intesa </span>individualmente <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>CGU, <span class=\"_ _23\"></span>ovvero <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>\u201ccentro <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>ricavo\u201d <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>minori <span class=\"_ _22\"></span>dimensioni <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>possibile <span class=\"_ _23\"></span>imputare specifici flussi di cassa <span class=\"ff5d\">\u2013</span> <span class=\"ff5d\">\u00e8 maggio<span class=\"_ _0\"></span>re del \u201cvalore recuperabile\u201d della stessa (\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span>\u201d).</span> A tal fine, l\u2019avviamento deve essere allocato a s<span class=\"ff56\">ingole o a gruppi di unit\u00e0 generatrici di flussi fin<span class=\"_ _0\"></span>anziari </span>dell\u2019acquirente in <span class=\"_ _2b\"></span>modo che <span class=\"_ _2b\"></span>tali unit\u00e0 <span class=\"_ _29\"></span>beneficino <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>sinergie <span class=\"_ _29\"></span>dell\u2019aggregazione, indipendentemente <span class=\"_ _2b\"></span>dal fatto che altre attivit\u00e0 o passivit\u00e0 dell\u2019acquisito<span class=\"_ _0\"></span> siano assegnate a tali unit\u00e0 o gruppi <span class=\"_ _0\"></span><span class=\"ff56\">di unit\u00e0. </span>I <span class=\"_ _28\"></span>test <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _28\"></span>erano <span class=\"_ _28\"></span>stati <span class=\"_ _28\"></span>gi\u00e0 <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>30 <span class=\"_ _28\"></span>giugno <span class=\"_ _28\"></span>2022 <span class=\"_ _28\"></span>senza <span class=\"_ _28\"></span>dare <span class=\"_ _28\"></span>evidenza <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>problemi <span class=\"_ _28\"></span>di recuperabilit\u00e0. <span class=\"_ _2d\"> </span>Nonostante <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>siano <span class=\"_ _2c\"> </span>emersi <span class=\"_ _2d\"> </span>indicatori <span class=\"_ _2c\"></span>specifici <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span><span class=\"ff5a\">impairment</span> <span class=\"_ _2d\"> </span>sulle singole <span class=\"_ _28\"></span>CGU, <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>natura <span class=\"_ _28\"></span>interna <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _28\"></span>esterna, <span class=\"_ _28\"></span>tenendo <span class=\"_ _28\"></span>altres\u00ec <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>considerazione <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>prezzi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>borsa <span class=\"_ _28\"></span>della Capogruppo risultano <span class=\"_ _0\"></span>inferiori al <span class=\"_ _0\"></span>valore di <span class=\"_ _0\"></span>patrimonio netto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>azione, per ciascuna <span class=\"_ _0\"></span>CGU sono <span class=\"_ _0\"></span>stati <span class=\"_ _0\"></span>condotti sul <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019avviamento <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>31</span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _0\"></span>specifici <span class=\"_ _22\"></span><span class=\"ff5a\">test</span> <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a ls9\">im<span class=\"ls0\">pairment</span></span> <span class=\"_ _22\"></span><span class=\"ff5d\">anche <span class=\"_ _22\"></span>con <span class=\"_ _0\"></span>l\u2019ausilio <span class=\"_ _22\"></span>di </span>un consulente esterno. Le metodologie utilizzate per i <span class=\"_ _29\"></span>test di <span class=\"ff5a\">impairment</span> sono similari a quelle utilizzate dalla Capogruppo, <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>fini <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>relazione <span class=\"_ _2b\"></span>finanziaria annuale <span class=\"_ _2b\"></span>2021, <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>degli <span class=\"_ _29\"></span>investimenti <span class=\"_ _2b\"></span>partecipat<span class=\"_ _0\"></span>ivi valutati al <span class=\"ff5a\">fair value</span>, nonch\u00e9 delle valutazion<span class=\"_ _0\"></span>i effettuate in sede semestrale 2022.<span class=\"_ _0\"></span> I <span class=\"_ _23\"></span>suddetti <span class=\"_ _22\"></span>test <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stati <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>tenendo <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>evisioni <span class=\"_ _23\"></span>dello <span class=\"_ _23\"></span>IAS <span class=\"_ _22\"></span>36 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle raccomandazioni ESMA <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>Consob e <span class=\"_ _2b\"></span>quindi tenendo i<span class=\"_ _29\"></span>n considerazione tutti <span class=\"_ _2b\"></span>i potenziali effetti <span class=\"_ _2b\"></span>di natura esterna derivanti dagli effetti della pandemia e dal con<span class=\"_ _0\"></span>flitto Russia-<span class=\"ff5d\">Ucraina sull\u2019attivit\u00e0 del Grup<span class=\"_ _0\"></span>po.</span> Le <span class=\"_ _22\"></span>analisi <span class=\"_ _22\"></span>condotte <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>confermato <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>esposto <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circostanze <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>richiedano <span class=\"_ _22\"></span>la ripetizione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>test <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> sede<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>redazione <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Relazione <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>annuale. <span class=\"_ _0\"></span>Tu<span class=\"_ _0\"></span>ttavia, alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>della <span class=\"_ _28\"></span>continua <span class=\"_ _23\"></span>incertezza <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>contraddistingue <span class=\"_ _23\"></span>lo <span class=\"_ _28\"></span>scenario <span class=\"_ _23\"></span>macroeconomico <span class=\"_ _28\"></span>internazionale <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle forti tensioni sui <span class=\"_ _0\"></span>mercati fi<span class=\"_ _0\"></span>nanziari che <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span><span class=\"ff5d\">determinato <span class=\"_ _0\"></span>un\u2019oscillazione neg<span class=\"_ _0\"></span>ativa anche <span class=\"_ _0\"></span>della quotazion<span class=\"_ _0\"></span>e di </span>Borsa <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>Societ\u00e0 <span class=\"_ _29\"></span>(che <span class=\"_ _2b\"></span>evid<span class=\"_ _0\"></span>enziava <span class=\"_ _29\"></span>a <span class=\"_ _29\"></span>fine <span class=\"_ _29\"></span>giugno <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>permanere <span class=\"_ _2b\"></span>di una <span class=\"_ _2b\"></span>capitalizzazio<span class=\"_ _0\"></span>ne inferiore<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>patrimonio netto <span class=\"_ _2d\"> </span>contabile) <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>Gruppo, <span class=\"_ _2d\"> </span>accogliendo <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>indicazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>prudenza <span class=\"_ _2d\"> </span>evid<span class=\"_ _0\"></span>enziate <span class=\"_ _2d\"> </span>da<span class=\"_ _22\"></span>i <span class=\"_ _2d\"> </span>sopracitati <span class=\"_ _2a\"> </span>Organismi Regolamentari, <span class=\"_\"> </span>ha <span class=\"_\"> </span>comunque <span class=\"_\"> </span>effettuato <span class=\"_\"> </span>l\u2019<span class=\"ff5a\">impairment<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_\"> </span>test <span class=\"_\"> </span>delle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_\"> </span>immateriali <span class=\"_\"> </span>iscritte <span class=\"_\"> </span>nel <span class=\"_\"> </span>Bilancio </span></span>Consolidato e riferite alle due <span class=\"ff5a\">Cash Generat<span class=\"_ _0\"></span>ing Unit</span> identificate. In ossequio al principio contabile internazionale IAS 36, le proiezioni dei flussi finanziari utilizzate per la <span class=\"_ _2c\"></span>determinazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>valore <span class=\"_ _2d\"> </span>recuperabile <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>immaterial<span class=\"_ _0\"></span>i <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"> </span>vi<span class=\"_ _0\"></span>ta <span class=\"_ _2c\"></span>utile <span class=\"_ _2c\"></span>indefinita, <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2d\"> </span>particolare dell\u2019avviamento, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>state <span class=\"_ _22\"></span>riviste <span class=\"_ _22\"></span>basandosi <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>ultime <span class=\"_ _0\"></span>sti<span class=\"_ _0\"></span>me <span class=\"_ _22\"></span>disponibili <span class=\"_ _22\"></span>(indicate <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>Piani<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>Industriali <span class=\"_ _22\"></span>e/o </span>budget), op<span class=\"_ _0\"></span>portunamente riesamin<span class=\"_ _0\"></span>ate sulla <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>presupposti <span class=\"_ _0\"></span>ragionevoli <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>dimostrabili al <span class=\"_ _0\"></span>fine <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>riflettere i<span class=\"_ _0\"></span> risultati <span class=\"_ _2c\"></span>nel <span class=\"_ _2c\"></span>frattempo <span class=\"_ _2c\"></span>consuntivati <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>grado <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>rappresentare <span class=\"_ _2c\"></span>ad <span class=\"_ _2d\"> </span>oggi <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>migliore <span class=\"_ _2c\"> </span>stima <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>condizioni economiche future <span class=\"ff5d\">attese e svolgendo analisi <span class=\"_ _29\"></span>di sensitivit\u00e0 in <span class=\"_ _29\"></span>merito ai potenziali impatti derivanti dall\u2019attuale </span>contesto geopolitico e sanitario sulle assunzio<span class=\"_ _0\"></span>ni sottostanti le stime effettuate.<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">CGU Rame </span></span>Il test <span class=\"_ _29\"></span>di <span class=\"ff5a\">impairment</span> <span class=\"_ _2b\"></span>sulla CGU rame <span class=\"_ _29\"></span>(al 31 <span class=\"_ _29\"></span>dicembre 2022 <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re avviamento <span class=\"_ _29\"></span>pari <span class=\"_ _29\"></span>ad Euro <span class=\"_ _29\"></span>342,5 milioni) \u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>metodologia <span class=\"_ _23\"></span>dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _23\"></span>discounted <span class=\"_ _23\"></span>cash <span class=\"_ _22\"></span>flow<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>(UDCF) <span class=\"_ _22\"></span>attualizzando <span class=\"_ _23\"></span>i </span></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019effetto fiscale).<span class=\"_ _0\"></span></span> Il <span class=\"_ _2c\"></span>metodo <span class=\"_ _2c\"></span>UDCF <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _28\"></span>svilup<span class=\"_ _0\"></span>pato <span class=\"_ _2c\"></span>utilizzando <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>base <span class=\"_ _2c\"> </span>info<span class=\"_ _0\"></span>rmativa <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>proiezioni <span class=\"_ _2d\"> </span>economiche <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>le<span class=\"_ _0\"></span> variazioni <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>alcune <span class=\"_ _23\"></span>poste <span class=\"_ _23\"></span>patrimoniali <span class=\"_ _23\"></span>contenute <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Piano <span class=\"_ _22\"></span>Industriale <span class=\"_ _23\"></span>2023 <span class=\"_ _23\"></span>- <span class=\"_ _23\"></span><span class=\"ls1\">2027</span> <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>\u201cPiano\u201d </span>elaborato ed <span class=\"_ _2b\"></span>a<span class=\"_ _0\"></span>pprovato dagli <span class=\"_ _29\"></span>organi amministrativi <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>KME SE <span class=\"_ _2b\"></span>il 24 marzo <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>23) a <span class=\"_ _29\"></span>partire <span class=\"_ _29\"></span>dai flussi <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>primo semestre 2023 e tenendo conto<span class=\"_ _0\"></span> dei dati consuntivi al 31 dicembre 20<span class=\"_ _0\"></span>22. <span class=\"ls7\">Il </span>Piano approvato riflette la migliore stima <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali <span class=\"_ _23\"></span>sviluppi <span class=\"_ _28\"></span>macroeconomici <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>potrebbero <span class=\"_ _28\"></span>influenzare <span class=\"_ _23\"></span>l'attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>gruppo KME SE. Il <span class=\"ff5a ls0\">terminal <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">\u00e8 <span class=\"_ _29\"></span>stato calcolato <span class=\"_ _29\"></span>assumendo l\u2019EBITDA <span class=\"_ _29\"></span>di lungo <span class=\"_ _29\"></span>periodo pari <span class=\"_ _29\"></span>alla <span class=\"_ _29\"></span>media dell\u2019EBITDA <span class=\"_ _29\"></span>di </span></span></span>Piano <span class=\"_ _29\"></span>(periodo <span class=\"_ _29\"></span>esplicito, <span class=\"_ _29\"></span>1 <span class=\"_ _2b\"></span>gennaio 2023 <span class=\"_ _2b\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _29\"></span>2027), con <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>livello <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammortamento <span class=\"_ _2b\"></span>c<span class=\"_ _0\"></span>orrispondente </span></span>agli <span class=\"_ _29\"></span>investimenti, <span class=\"_ _29\"></span><span class=\"ff5d\">utilizzando <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>tasso di <span class=\"_ _2b\"></span>crescita <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>lungo <span class=\"_ _2b\"></span>periodo<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>\u201cg\u201d <span class=\"_ _2b\"></span>pari a <span class=\"_ _2b\"></span>zero <span class=\"_ _29\"></span>giungendo <span class=\"_ _29\"></span>ad <span class=\"_ _2b\"></span>un WACC <span class=\"_ _2b\"></span>pari </span>a <span class=\"_ _22\"></span>9,67% <span class=\"_ _23\"></span>(tasso <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>9,35% <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>valutazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span></span>effettuate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021)<span class=\"_ _0\"></span><span class=\"fs1\"> <span class=\"_ _23\"></span></span>tenendo <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei dati storici registrati. Conformemente <span class=\"_ _0\"></span>alle <span class=\"_ _22\"></span>indicazioni <span class=\"_ _0\"></span>metodologiche <span class=\"_ _22\"></span>fornite <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>IAS <span class=\"_ _0\"></span>36 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>altres\u00ec <span class=\"_ _0\"></span>effettuat<span class=\"_ _0\"></span>a un\u2019<span class=\"ff56 ls0\">analisi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>sensitivit\u00e0 <span class=\"_ _2b\"></span>al fine <span class=\"_ _2b\"></span>di comprendere <span class=\"_ _2b\"></span>come il <span class=\"_ _2b\"></span>valore recuperabile <span class=\"_ _2b\"></span>possa variare <span class=\"_ _2b\"></span>a seguito <span class=\"_ _2b\"></span>di variazioni </span>del <span class=\"_ _2d\"> </span>valore <span class=\"_ _2d\"> </span>dell\u2019EBITDA <span class=\"_ _2d\"> </span>(decremento<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>5% <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>10%) <span class=\"_ _2d\"> </span>sul <span class=\"_ _2d\"> </span><span class=\"ff5a\">te<span class=\"_ _0\"></span>rminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Peraltro, <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>fine <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>meglio </span>apprezzare la sensibilit\u00e0 <span class=\"_ _0\"></span>dei risultati dell\u2019<span class=\"_ _0\"></span><span class=\"ff5a\">impairment t<span class=\"_ _0\"></span><span class=\"ff56\">est rispetto alle <span class=\"_ _0\"></span>variazioni degli <span class=\"_ _0\"></span>assunti di base, <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>parit\u00e0 </span></span>di <span class=\"_ _2b\"></span>tasso <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>(<span class=\"_ _0\"></span>pari <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>zero), <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _2b\"></span>svolta, <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>fini <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span><span class=\"ff5d\">del valore <span class=\"_ _2b\"></span>d\u2019uso, <span class=\"_ _2b\"></span><span class=\"ff56\">anche <span class=\"_ _29\"></span><span class=\"ff5d\">un\u2019analisi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">sensitivit\u00e0<span class=\"ff5a\"> </span></span></span></span></span>rispetto <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>attualizzazione <span class=\"_ _2c\"></span>complessivo <span class=\"_ _2c\"></span>WACC <span class=\"_ _28\"></span>(<span class=\"ls9\">in<span class=\"_ _0\"></span></span>cremento <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>0,5% <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>1,0%) <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _2c\"></span>del calcolo <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">terminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Sia <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>peggio<span class=\"_ _0\"></span>ramento <span class=\"_ _2d\"> </span>congiunto <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>parametri <span class=\"_ _2d\"> </span>di EBITDA <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>WACC<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span><span class=\"ff5d ls9\">l\u2019</span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test</span> <span class=\"_ _22\"></span>effettuato <span class=\"_ _22\"></span><span class=\"ls1\">ha</span> <span class=\"_ _0\"></span>accertato <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sussistono <span class=\"_ _22\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span><span class=\"ls64\">CGU </span>Rame<span class=\"fs1\">.</span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a ls18\">CGU <span class=\"ls0\">Profumi e Cosmesi </span></span></span>Il test di <span class=\"ff5a\">impairment</span> sulla CGU Profumi e Co<span class=\"_ _0\"></span>smesi (al 31 dicembre 20<span class=\"_ _0\"></span>22 valore avviamento pari ad Euro 27,8 <span class=\"_ _0\"></span>milioni), <span class=\"_ _0\"></span>\u00e8 stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> sulla <span class=\"_ _0\"></span>base<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _0\"></span>discounted <span class=\"_ _0\"></span>cash <span class=\"_ _0\"></span>flow</span></span> <span class=\"_ _0\"></span>(UDCF) <span class=\"_ _0\"></span>attualizzando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019ef</span>fetto fiscale). <span class=\"_ _0\"></span> Il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>recuperabile <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>determinato <span class=\"_ _23\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5a\">Sum <span class=\"_ _22\"></span>of <span class=\"_ _22\"></span>Parts</span>, <span class=\"_ _22\"></span>considerando <span class=\"_ _23\"></span>i valori di CULTI Milano SpA e delle societ\u00e0 afferenti<span class=\"_ _0\"></span> al proprio<span class=\"_ _0\"></span> gruppo<span class=\"lsb\">. </span> Per <span class=\"_ _2d\"> </span>ogni <span class=\"_ _2d\"> </span>parte <span class=\"_ _2a\"> </span>(entit\u00e0), <span class=\"_ _2d\"> </span>i<span class=\"lsa\">l <span class=\"_ _2d\"> </span></span><span class=\"ff5a\">termina<span class=\"_ _0\"></span>l <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2d\"> </span>calcolato <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>relativo <span class=\"_ _2a\"> </span>EBITDA <span class=\"_ _2d\"> </span>storico <span class=\"_ _2d\"> </span>e considerando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>previsionali <span class=\"_ _0\"></span>(periodo <span class=\"_ _0\"></span>esplicito, <span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>gennaio <span class=\"_ _0\"></span>2023 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2025<span class=\"ls7\">),</span> <span class=\"_ _0\"></span>utilizzando <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>tasso<span class=\"_ _0\"></span> di <span class=\"_ _22\"></span>crescita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>lungo <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>\u201cg\u201d <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>zero<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>giungendo <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>WACC <span class=\"_ _23\"></span>specifico <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>ciascuna <span class=\"_ _23\"></span>parte <span class=\"_ _22\"></span>(entit\u00e0); </span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>contributo di <span class=\"_ _0\"></span>ciascun <span class=\"_ _0\"></span>Paese all\u2019EBITDA <span class=\"_ _0\"></span>Terminal <span class=\"_ _0\"></span>Value, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>tasso di <span class=\"_ _0\"></span>sconto medio <span class=\"_ _0\"></span>ponderato<span class=\"_ _0\"></span> applicato all\u2019impairment test della CGU <span class=\"_ _0\"></span><span class=\"ff56\">Profumi e Cosmesi si attesta attorno<span class=\"_ _0\"></span> al 10,89%. </span>Anche <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>CGU <span class=\"_ _0\"></span>Pro<span class=\"_ _0\"></span>fumi <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>Cosmesi, <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ciascuna <span class=\"_ _0\"></span>parte, <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _0\"></span>effettuata <span class=\"_ _0\"></span><span class=\"ff5d ls9\">l\u2019</span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>fine di <span class=\"_ _2e\"> </span>comprendere <span class=\"_ _2e\"> </span>la <span class=\"_ _2e\"> </span>variazione <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _2e\"> </span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span><span class=\"ff5d\">a <span class=\"_ _8b\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _8b\"> </span>dell\u2019EBITD<span class=\"_ _0\"></span>A </span>(decremento <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>5% <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>10%) <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">terminal <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>e<span class=\"lsb\">, <span class=\"_ _23\"></span></span>a <span class=\"_ _23\"></span>parit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>crescita <span class=\"_ _23\"></span>(pari <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>zero), <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di attualizzazione complessivo WACC<span class=\"_ _0\"></span> (<span class=\"ls9\">in</span>cremento di 0,5% e 1,0%).  Sia <span class=\"_\"> </span>nel <span class=\"_ _2e\"> </span>caso <span class=\"_ _8b\"> </span>base <span class=\"_ _8b\"> </span>che <span class=\"_ _2e\"> </span>nel <span class=\"_ _8b\"> </span>caso <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>peggioramento <span class=\"_ _8b\"> </span>congiunto<span class=\"_ _0\"></span> <span class=\"_\"> </span>dei <span class=\"_ _8b\"> </span>param<span class=\"_ _0\"></span>etri <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>EBITDA<span class=\"_ _0\"></span> <span class=\"_\"> </span>e <span class=\"_ _2e\"> </span>WACC, l\u2019<span class=\"ff5a ls0\">impairment test<span class=\"ff56\"> effettuato <span class=\"ls1\">ha</span> accertato che non<span class=\"_ _0\"></span> sussistono perd<span class=\"_ _0\"></span>ite di valo<span class=\"ls7\">re</span> sulla <span class=\"ls18\">CGU </span>Profumi e Cosmesi<span class=\"_ _0\"></span><span class=\"fs1\">.</span> </span></span>Inoltre, <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>arimenti <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>ai <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value</span> <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato redatto <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2021 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>semestrale <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span><span class=\"ff5a\">, <span class=\"_ _22\"></span>s</span>ono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>condotte analisi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>liq<span class=\"_ _0\"></span>uidit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span><span class=\"ff5a\">trend<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>borsa <span class=\"_ _22\"></span>(sui <span class=\"_ _22\"></span>volumi <span class=\"_ _22\"></span>scambiati, <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>termini <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>numero <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> controvalore <span class=\"_ _0\"></span>monetario <span class=\"_ _0\"></span>scambiato) <span class=\"_ _0\"></span>anche <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span><span class=\"ff5a\">comparables</span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>evidenziato <span class=\"_ _0\"></span>che nel <span class=\"_ _0\"></span>corso <span class=\"_ _22\"></span>dell\u2019ultimo <span class=\"_ _22\"></span>anno<span class=\"ff56\"> <span class=\"_ _0\"></span>(3 <span class=\"_ _22\"></span>gennaio <span class=\"_ _22\"></span>2022 <span class=\"_ _0\"></span></span>\u2013<span class=\"ff56\"> <span class=\"_ _22\"></span>31 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _0\"></span>2022<span class=\"_ _0\"></span>), <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>diversi <span class=\"_ _0\"></span>orizzonti <span class=\"_ _22\"></span>temporali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>1 <span class=\"_ _22\"></span>mese, <span class=\"_ _0\"></span>3 </span>mesi, <span class=\"_ _2c\"></span>6 <span class=\"_ _2c\"> </span>mesi <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>anno, <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>volumi <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>s<span class=\"_ _29\"></span>cambio <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"> </span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _2d\"> </span>CULTI <span class=\"_ _2c\"></span>Milano <span class=\"_ _2c\"> </span>sono <span class=\"_ _2c\"> </span>stati <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>linea <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"> </span>quelli <span class=\"_ _2d\"> </span>dei comparables<span class=\"ff56\"> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>ci\u00f2 <span class=\"_ _22\"></span>condurrebbe <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>ritenere <span class=\"_ _22\"></span>comun<span class=\"_ _0\"></span>que <span class=\"_ _22\"></span>significativo <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>quotazioni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa </span>al fine di determinare il valore corrente teorico <span class=\"_ _0\"></span>di CULTI Milano<span class=\"_ _0\"></span> utile ai fini del test di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span>. Anche <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>v<span class=\"_ _0\"></span>alorizzazione <span class=\"_ _22\"></span>risulterebbe <span class=\"_ _22\"></span>superiore <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>esame <span class=\"_ _22\"></span>(valore <span class=\"_ _22\"></span>unitario azione pari ad Euro 20,20). Risultanze del test sulle CGU identificate<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>esiti <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span><span class=\"ff5a\">impairment <span class=\"_ _0\"></span>test</span> <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>hanno <span class=\"_ _22\"></span>evidenziato <span class=\"_ _0\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>degli <span class=\"_ _0\"></span>avviamenti <span class=\"_ _22\"></span>iscritti, <span class=\"_ _0\"></span>sia <span class=\"_ _22\"></span>nello scenario di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>ipotizzati <span class=\"_ _0\"></span>dalle <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>effettua<span class=\"_ _0\"></span>te<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>(peggioramento <span class=\"_ _0\"></span>congiunto di EBITDA e WACC), con<span class=\"_ _0\"></span> un <span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span> delle CGU sempre superiore al v<span class=\"_ _0\"></span>alore di <span class=\"ff5a\">carrying amou<span class=\"_ _0\"></span>nt</span> evidenziato nel presente Bilancio Con<span class=\"_ _0\"></span>solidato. 4.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Partecipazioni (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Partecipazioni in controllate  23.281  620.201  (596.920) Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405  16.922  483  Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654   -<span class=\"lsd\">  </span> 76.654  Partecipazioni 117.340  637.123  (519.783) Di <span class=\"_ _2c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"> </span>movimentazione <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>nella <span class=\"_ _2c\"> </span>voce <span class=\"_ _2d\"> </span>\u201cValutazioni <span class=\"_ _2d\"> </span>attive <span class=\"_ _2d\"> </span><span class=\"ff5a\">Fair </span>Value<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>accogl<span class=\"_ _0\"></span>ie <span class=\"_ _2b\"></span>l\u2019effetto<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>della valutazione <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">di <span class=\"_ _2b\"></span>CULTI <span class=\"_ _2b\"></span>Milano con <span class=\"_ _2b\"></span>l\u2019iscrizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>effetto positivo </span></span></span></span></span>pari <span class=\"_ _46\"> </span>ad <span class=\"_ _3b\"> </span>Euro <span class=\"_ _46\"> </span>9.078 <span class=\"_ _3b\"> </span>migliaia <span class=\"_ _46\"> </span>(avente <span class=\"_ _3b\"> </span>impatto <span class=\"_ _46\"> </span>a <span class=\"_ _46\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _46\"> </span>economico<span class=\"ff5d\">, <span class=\"_ _3b\"> </span>confluito <span class=\"_ _46\"> </span>nella <span class=\"_ _46\"> </span>voce <span class=\"_ _3b\"> </span>\u201cRisultato </span>partecipazioni\u201d<span class=\"ff56\">); <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>valutazione <span class=\"_ _22\"></span>recepisce <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>partecipata <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cambio <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> </span>\u201centit\u00e0 di investimento\u201d. <span class=\"ff56\"> </span>Gli <span class=\"_ _22\"></span>incrementi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _22\"></span>rappresentati, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>658 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>partecipazione <span class=\"_ _23\"></span>in Oasi <span class=\"_ _2b\"></span>Dynamo <span class=\"_ _2b\"></span>Fo<span class=\"_ _0\"></span>odCo <span class=\"_ _2b\"></span>S.r.l. <span class=\"_ _2b\"></span>incrementata <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>400 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>258 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ff5d\">per <span class=\"_ _29\"></span>l\u2019acquisizione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>KME </span>Middle East FZE, partecipazione inclusa nel ramo <span class=\"_ _0\"></span>d'azienda acquisito<span class=\"_ _0\"></span> da Aurubis. Partecipazioni Partecipazioni Partecipazioni (in migliaia di Euro) a patrimonio Totale in controllate in altre imprese netto Totale al 31 dicembre 2021 620.201  16.922   -<span class=\"lsd\">  </span> 637.123  Incrementi 10   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 10  Valutazioni attive <span class=\"ff5a\">Fair Value</span> 9.078   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 9.078  Totale al 30 aprile 2022 629.289  16.922   -<span class=\"lsd\">  </span> 646.211  Variazione per Entit\u00e0 di <span class=\"_ _29\"></span>Investimento (616.292)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (616.292) Variazione area di consolida<span class=\"_ _29\"></span>mento IFRS 10 9.751  478  98.902  109.131  Incrementi 658  5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 663  Effetto cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.174) (2.174) Variazioni PPA (50)  -<span class=\"lsd\">  </span> (11.134) (11.184) Decrementi (75)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (75) Riclassifiche  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Quota utili/perdite a conto ec<span class=\"_ _29\"></span>onomico  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.285) (10.285) Quote a patrimonio netto  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.345  1.345  Totale al 31 dicembre 2022 23.281  17.405  76.654  117.340  Il dettaglio della voce al 31 dicembre 2022 \u00e8 il <span class=\"_ _0\"></span>seguente: % di % di Sede Denominazione  possesso al possesso al 31/12/2022 31/12/2021 legale 31/12/2022 31/12/2022 (in migliaia di diretta indiretta (in migliaia di Euro) Euro) KME SE Germania 10% 89,00%  -<span class=\"lsf\">  </span> 578.300  CULTI Milano SpA Italia 77,17% -  -<span class=\"lsf\">  </span> 28.904  Intek Investimenti SpA Italia 100% - 11.200  11.200  KME Germany Bet. GmbH Germania - 100,00% 1.707  1.700  KME Metale Sp. z o.o. Polonia - 99,00% 3.498   -<span class=\"lsf\">  </span> KME ( Suisse ) S.A. Svizzera - 99,00% 1.138   -<span class=\"lsf\">  </span> Oasi Dynamo Societa Agricola S.r.l. Italia - 82,64% 4.910   -<span class=\"lsf\">  </span> - 400   - Oasi Dynamo Foodco Srl Italia 82,64% Altre soc. afferenti al gruppo KME SE n.a. n.a. 388  - Altre societ\u00e0 afferenti alla Capogruppo n.a. n.a. 40 97 Partecipazioni in controllate 23.281  620.201  Ducati Energia SpA Italia 6,77% - 16.700  16.700  Vita Societ\u00e0 Editoriale SpA Italia 13,22% - 222  222  Metal Interconnector ScpA Italia - 0,36% 318   -<span class=\"lsf\">  </span> Altre minori n.a. n.a. 165   -<span class=\"lsf\">  </span> Partecipazioni in altre imprese 17.405  16.922  Hong 46.524   -<span class=\"lsf\">  </span> KMD (HK) Holding Limited Kong - 49,50% Azienda Metalli Laminati S.p.A. Italia - 23,96% 68   -<span class=\"lsf\">  </span> Dynamo Academy S.r.l. Italia - 24,75% 805   -<span class=\"lsf\">  </span> Magnet Joint Venture Gmbh Germania - 44,55% 29.257   -<span class=\"lsf\">  </span> Partecipazioni a patrimonio netto 76.654   -<span class=\"lsf\">  </span> Partecipazioni 117.340  637.123  La vo<span class=\"_ _0\"></span>ce \u201cPart<span class=\"_ _0\"></span>ecipazioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>altre <span class=\"_ _0\"></span>imprese\u201d <span class=\"_ _0\"></span>accoglie <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>Ducati <span class=\"_ _0\"></span>En<span class=\"_ _0\"></span>ergia <span class=\"_ _0\"></span>SpA, <span class=\"_ _0\"></span>partecipazione di minoranza in capo alla Capogruppo<span class=\"_ _0\"></span>. Le <span class=\"_ _2d\"> </span>\u201cPartecipazioni <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto\u201d <span class=\"_ _2d\"> </span>comprendono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>congiunto, <span class=\"_ _2d\"> </span>nello specifico: \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _23\"></span>46<span class=\"_ _0\"></span><span class=\"lsd\">.5</span>24 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>relativi <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipazione <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>50% <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _23\"></span>nella <span class=\"_ _28\"></span>KMD <span class=\"_ _28\"></span>(HK)<span class=\"_ _0\"></span> </span></span>Holding Ltd. <span class=\"_ _29\"></span>costituita nel <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>14 insieme <span class=\"_ _29\"></span>ad un <span class=\"_ _2b\"></span>partner. KMD \u00e8 <span class=\"_ _29\"></span>un'azienda indipendente ed <span class=\"_ _2b\"></span>\u00e8 gestita in modo indipendente e che produce principalmente pr<span class=\"_ _0\"></span>odotti di stampaggio <span class=\"_ _0\"></span>nel settore Copper; \u2022 <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _28\"></span>29<span class=\"_ _0\"></span>.257 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>partecipazione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>45% <span class=\"_ _2d\"> </span>da <span class=\"_ _28\"></span>parte <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"> </span>SE <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>n <span class=\"_ _2c\"></span>Magnet <span class=\"_ _2c\"></span>Joint <span class=\"_ _2c\"></span>Venture </span>GmbH. Tale <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>\u00e8 stata <span class=\"_ _0\"></span><span class=\"ff5d\">acquisita nell\u2019ambito <span class=\"_ _0\"></span>degli accordi <span class=\"_ _0\"></span>con Parago<span class=\"_ _0\"></span>n relativi <span class=\"_ _0\"></span>alla cessione <span class=\"_ _0\"></span>del </span>controllo del <span class=\"_ _0\"></span>Business <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>Speciali. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>valorizzazion<span class=\"_ _0\"></span>e includ<span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>aggiustamenti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> al momento dell'acquisizione. Tali <span class=\"_ _2b\"></span>partecipazioni, nel<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>complesso<span class=\"lsb\">, <span class=\"_ _2b\"></span><span class=\"ls0\">neg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>otto <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>saldi <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Bilancio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Consolidato<span class=\"_ _0\"></span>, </span></span>hanno contribuito negativamente al risul<span class=\"_ _0\"></span>tato del Gruppo. 4.5.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Altre attivit\u00e0 non correnti Il contenuto della voce \u00e8 il seguente: (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Depositi cauzionali 877  3 <span class=\"ls0\"> </span>874  Altri crediti 2.229   -<span class=\"lsd\">  </span> 2.229  Altre attivit\u00e0 non correnti 3.106  3 <span class=\"ls0\"> </span>3.103  4.6.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Attivit\u00e0 finanziarie non correnti<span class=\"_ _0\"></span> La voce pu\u00f2 essere cos\u00ec analizzata:<span class=\"_ _0\"></span> (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti per commissioni s<span class=\"_ _29\"></span>u garanzie rilasciate  -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>(5) Altre attivit\u00e0 finanziarie no<span class=\"_ _29\"></span>n correnti 3.009   -<span class=\"lsd\">  </span> 3.009  Strumenti finanziari deri<span class=\"_ _29\"></span>vati 236   -<span class=\"lsd\">  </span> 236  Attivit\u00e0 finanziarie non cor<span class=\"_ _29\"></span>renti 3.245  5 <span class=\"ls0\"> </span>3.240  Il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>degli <span class=\"_ _22\"></span>strumenti <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>derivati <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>Euro <span class=\"_ _22\"></span>236 <span class=\"_ _0\"></span>migliaia <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>afferente <span class=\"_ _22\"></span>alle <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>gruppo CULTI <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>particolare <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>valore <span class=\"_ _2d\"> </span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2d\"> </span>IRS <span class=\"_ _2d\"> </span>Swap <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>copertura <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2a\"> </span>tasso <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>interesse <span class=\"_ _2a\"> </span>stipulati <span class=\"_ _2d\"> </span>sui finanziamenti passivi in essere.<span class=\"_ _0\"></span> (in migliaia di Euro) CULTI Milano SpA Scent Company Srl Bakel Srl Valore nozionale originario 2.500  800  1.000  Valore nozionale 31/12/2022 2.037  800  1.000  Valore di bilancio 116  49  71  Data scadenza 2026 2026 2029 4.7.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Rimanenze (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Materie prime, sussidiarie e <span class=\"_ _29\"></span>di consumo 363.839  363.839  Prodotti in corso di lavorazione e semil<span class=\"_ _29\"></span>avorati 17.438   -<span class=\"lsd\">  </span> 17.438  Prodotti finiti e merci 23.626   -<span class=\"lsd\">  </span> 23.626  Rimanenze 404.903   -<span class=\"lsd\">  </span> 404.903  La voce include <span class=\"_ _29\"></span>principalmente i saldi <span class=\"_ _29\"></span>del settore <span class=\"_ _29\"></span>rame (Euro 399.330 migliaia), <span class=\"_ _29\"></span>relativi principalmente alle <span class=\"_ _2f\"> </span>giacenze<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>metalli <span class=\"_ _41\"> </span>in <span class=\"_ _41\"> </span>particolare<span class=\"_ _0\"></span> <span class=\"_ _41\"> </span>rame, <span class=\"_ _41\"> </span>alluminio, <span class=\"_ _41\"> </span>nichel, <span class=\"_ _41\"> </span>zinco, <span class=\"_ _41\"> </span>stagno, <span class=\"_ _41\"> </span>rottami <span class=\"_ _2f\"> </span>e <span class=\"_ _41\"> </span>altri <span class=\"_ _41\"> </span>metalli (Euro 345.558 migliaia); la restante parte \u00e8 relativ<span class=\"_ _0\"></span>a al gruppo CULTI<span class=\"_ _0\"></span> (Euro 5.573 migliaia). Si <span class=\"_ _0\"></span>evidenzia che <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>dicembre 20<span class=\"_ _0\"></span>22 <span class=\"_ _0\"></span>43,02 <span class=\"_ _0\"></span>mila <span class=\"_ _0\"></span>tonnellate <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>rimanenze <span class=\"_ _0\"></span>sono costitu<span class=\"_ _0\"></span>ite <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>garanzia di<span class=\"_ _0\"></span> passivit\u00e0 <span class=\"_ _2d\"> </span>finanziarie. <span class=\"_ _2c\"></span>L'importo<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>totale <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>rimanenze <span class=\"_ _2c\"> </span>compren<span class=\"_ _0\"></span>de <span class=\"_ _2d\"> </span>Euro <span class=\"_ _2c\"> </span>57,5 <span class=\"_ _2d\"> </span>milioni <span class=\"_ _2d\"> </span>come <span class=\"_ _2c\"></span>incremento <span class=\"_ _2d\"> </span>in relazione all'attivit\u00e0 acquisita da Aurubis<span class=\"_ _0\"></span> nel secondo semestre 2022<span class=\"_ _0\"></span>. 4.8.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span><span class=\"ls18\">Cr</span>editi commerciali (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti verso clienti t<span class=\"_ _29\"></span>erzi 79.197   -<span class=\"lsd\">  </span> 79.197  Crediti per <span class=\"ff5a\">factoring/leasing</span> 1.491  2.987  (1.496) Crediti verso controllante 151  89  62  Crediti verso societ\u00e0 non consoli<span class=\"_ _29\"></span>date 4.646  1.963  2.683  Crediti verso entit\u00e0 a patrim<span class=\"_ _29\"></span>onio netto 9.874   -<span class=\"lsd\">  </span> 9.874  Crediti commerciali 95.359  5.039  90.320  I <span class=\"_ _2b\"></span>\u201c<span class=\"ff5a\">Crediti da <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>di leasing <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>di factoring<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>sono ra<span class=\"_ _29\"></span>ppresentati <span class=\"_ _2b\"></span>dal valore <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>dei <span class=\"ff56\">crediti <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span><span class=\"ff5a\">bonis </span></span></span></span>in <span class=\"_ _22\"></span>capo<span class=\"ff5a\"> <span class=\"_ _23\"></span></span>alla <span class=\"_ _22\"></span>Capogruppo <span class=\"_ _22\"></span>(<span class=\"ff5d\">relativi <span class=\"_ _23\"></span>all\u2019attivit\u00e0 <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>precedenza <span class=\"_ _22\"></span>condotta <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>Fime <span class=\"_ _22\"></span>Leasing <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>Fime <span class=\"_ _22\"></span>Factoring<span class=\"_ _0\"></span></span>). <span class=\"_ _23\"></span>La loro <span class=\"_ _0\"></span>variazione <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>determinata <span class=\"_ _22\"></span>da <span class=\"_ _0\"></span>incassi <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019<span class=\"_ _0\"></span>esercizio</span> <span class=\"_ _22\"></span><span class=\"ff5d\">e <span class=\"_ _0\"></span>dall\u2019effetto <span class=\"_ _22\"></span>attualizzazion</span>e <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>al<span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>previsione <span class=\"_ _22\"></span>di recupero dei relativi flussi finanziari <span class=\"_ _0\"></span>(a marzo 2023 sono stati incassi E<span class=\"_ _0\"></span>uro 600 migliaia). I <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Crediti <span class=\"_ _29\"></span><span class=\"ff5e\">verso <span class=\"_ _29\"></span>clienti <span class=\"_ _29\"></span>terzi\u201d <span class=\"ff56\">sono <span class=\"_ _2b\"></span>relativi per <span class=\"_ _2b\"></span>circa Euro <span class=\"_ _29\"></span>75<span class=\"lsb\">,0</span> <span class=\"_ _29\"></span>milioni <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>gruppo <span class=\"_ _2b\"></span>KME SE <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>per <span class=\"_ _29\"></span>Euro <span class=\"_ _29\"></span>4<span class=\"lsd\">,1</span> </span></span></span>milioni circa al gruppo CULT<span class=\"ls7\">I.</span> Si <span class=\"_ _23\"></span>evidenzia <span class=\"_ _22\"></span>che, <span class=\"_ _23\"></span>nell\u2019ambito <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>suo <span class=\"_ _23\"></span>programma <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span><span class=\"ff5a\">factoring<span class=\"ff56\">, <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _23\"></span>cede <span class=\"_ _22\"></span>r<span class=\"_ _0\"></span>egolarmente </span></span>crediti <span class=\"_ _2b\"></span>commerciali <span class=\"_ _29\"></span>con <span class=\"_ _2b\"></span>operazioni <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>factoring <span class=\"_ _2b\"></span>pro <span class=\"_ _29\"></span>soluto <span class=\"_ _2b\"></span>(cessione <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>rischio <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>capo <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>factorin<span class=\"_ _0\"></span>g, mantenendo <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _23\"></span>associato <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>validit\u00e0 <span class=\"_ _23\"></span>legale <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>crediti; <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>tale <span class=\"_ _23\"></span>contesto, <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>conformit\u00e0 <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>l'IFRS <span class=\"_ _23\"></span>9, vengono <span class=\"_ _23\"></span>cancellati <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>crediti <span class=\"_ _23\"></span>ceduti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>si <span class=\"_ _22\"></span>rileva <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>credito <span class=\"_ _22\"></span>nei <span class=\"_ _23\"></span>confronti <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>factoring <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>stesso<span class=\"_ _0\"></span> importo <span class=\"_ _2b\"></span>fino <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>ricevimento <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>pagamento. <span class=\"_ _2b\"></span>Al <span class=\"_ _2b\"></span>31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _3d\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>verso <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _3d\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span><span class=\"ff5a\">factoring<span class=\"ff56\"> <span class=\"_ _2b\"></span>ammontano </span></span>ad Euro 23.422 migliaia e sono <span class=\"_ _0\"></span>inclusi <span class=\"ff5d\">nella voce \u201cattivit\u00e0 finanziarie correnti\u201d.<span class=\"_ _0\"></span></span> Oltre <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">factoring<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pro <span class=\"_ _2d\"> </span>soluto, <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>gruppo <span class=\"_ _2d\"> </span>KME <span class=\"_ _2d\"> </span>SE <span class=\"_ _2a\"> </span>cede <span class=\"_ _2d\"> </span>anche <span class=\"_ _2d\"> </span>crediti <span class=\"_ _2d\"> </span>nell'ambito <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>factoring <span class=\"_ _2d\"> </span>pro solvendo. <span class=\"_ _2c\"></span>In <span class=\"_ _2c\"></span>tale <span class=\"_ _28\"></span>caso, <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"></span>crediti, <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>differenza <span class=\"_ _28\"></span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">factoring</span> <span class=\"_ _28\"></span>pro <span class=\"_ _2c\"></span>soluto, <span class=\"_ _2c\"></span>non <span class=\"_ _2c\"></span>vengono <span class=\"_ _2c\"> </span>cancellati <span class=\"_ _2c\"></span>dal <span class=\"_ _2c\"></span>proprio bilancio <span class=\"_ _2d\"> </span><span class=\"ls15\">ma</span> <span class=\"_ _2d\"> </span>rimangono <span class=\"_ _2a\"> </span>invariati <span class=\"_ _2d\"> </span>come <span class=\"_ _2d\"> </span>crediti <span class=\"_ _2d\"> </span>verso <span class=\"_ _2d\"> </span>i <span class=\"_ _2d\"> </span>clienti. <span class=\"_ _2d\"> </span>Il <span class=\"_ _2d\"> </span>corrispettivo <span class=\"_ _2d\"> </span>della <span class=\"_\"> </span>societ\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>factoring <span class=\"_ _2d\"> </span>\u00e8 registrato tra le passivit\u00e0 finanziarie a breve termine.<span class=\"_ _0\"></span> Una <span class=\"_ _2b\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>crediti <span class=\"_ _29\"></span>commerciali <span class=\"_ _2b\"></span>pari <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>Euro <span class=\"_ _29\"></span>34.066 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ls6\">\u00e8 <span class=\"_ _2b\"></span><span class=\"ls0\">data <span class=\"_ _2b\"></span><span class=\"ls3\">a <span class=\"_ _2b\"></span><span class=\"ls0\">garanzia <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>elle <span class=\"_ _2b\"></span>passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie<span class=\"_ _0\"></span> </span></span></span></span>in essere<span class=\"lsb\">. </span> Con <span class=\"_ _0\"></span>riferiment<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>ai <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>verso <span class=\"_ _22\"></span>clienti, <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>scaduti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>120 <span class=\"_ _0\"></span>giorni <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>circa <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>17% <span class=\"_ _22\"></span>del valore lordo. 4.9.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Attivit\u00e0 finanziarie correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti finanziari verso c<span class=\"_ _29\"></span>orrelate 71.613  832  70.781  Crediti verso soc. factoring 23.422   -<span class=\"lsd\">  </span> 23.422  Crediti per commissioni s<span class=\"_ _29\"></span>u garanzie rilasciate  -<span class=\"lsd\">  </span> 235  (235) Strumenti finanziari deri<span class=\"_ _29\"></span>vati 10.967   -<span class=\"lsd\">  </span> 10.967  Investimenti in titoli 272  257  15  Altre attivit\u00e0 finanziarie co<span class=\"_ _29\"></span>rrenti 3.827  25.120  (21.293) Attivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> 110.101  26.444  83.657  I <span class=\"_ _2f\"> </span>\u201c<span class=\"ff5a\">Crediti <span class=\"_ _2f\"> </span>finan<span class=\"_ _0\"></span>ziari <span class=\"_ _2f\"> </span>verso <span class=\"_ _2f\"> </span>correlate<span class=\"_ _0\"></span></span><span class=\"ls6\">\u201d <span class=\"_ _2f\"> </span></span><span class=\"ff56\">al <span class=\"_ _2f\"> </span>31 <span class=\"_ _41\"> </span>dicembre <span class=\"_ _2f\"> </span>2022 <span class=\"_ _2f\"> </span>sono <span class=\"_ _41\"> </span>sostanzialmente <span class=\"_ _2f\"> </span>affe<span class=\"_ _0\"></span>renti <span class=\"_ _2f\"> </span>alle </span>partecipazioni a patrimonio netto<span class=\"_ _0\"></span>. I \u201c<span class=\"ff5a\">Crediti <span class=\"_ _29\"></span>verso soc. <span class=\"_ _29\"></span>factoring<span class=\"ff5d\">\u201d<span class=\"ff56\"> </span>sono afferenti <span class=\"_ _29\"></span>al gruppo <span class=\"_ _29\"></span>KME SE <span class=\"_ _29\"></span>e in <span class=\"_ _29\"></span>particolare all\u2019importo <span class=\"_ _29\"></span>dei crediti </span></span>commerciali ceduti secondo operazioni <span class=\"_ _29\"></span>di factoring pro <span class=\"_ _29\"></span>soluto, come <span class=\"_ _29\"></span>precedentemente indicato nel comme<span class=\"_ _29\"></span>nto alla <span class=\"_ _0\"></span>voce <span class=\"_ _0\"></span>\u201ccrediti <span class=\"_ _0\"></span>commerciali\u201d. <span class=\"_ _22\"></span><span class=\"ff56\">Tale <span class=\"_ _0\"></span>importo <span class=\"_ _22\"></span>si riferisce <span class=\"_ _22\"></span>a crediti <span class=\"_ _22\"></span>commerciali <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>servizi <span class=\"_ _0\"></span>gi\u00e0 <span class=\"_ _22\"></span>ceduti <span class=\"_ _0\"></span>e </span>non <span class=\"_ _29\"></span>pagati <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>data di <span class=\"_ _29\"></span>chiusura <span class=\"_ _2b\"></span>del Bilancio <span class=\"_ _2b\"></span>Con<span class=\"_ _0\"></span>solidato. L'importo <span class=\"_ _2b\"></span>di Euro <span class=\"_ _2b\"></span>23.422 migliaia <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>posto <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>garanzia<span class=\"_ _0\"></span> per le passivit\u00e0 finanziarie in essere.<span class=\"_ _0\"></span> I <span class=\"_ _2d\"> </span>\u201cCrediti <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>commissioni <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>garanzie\u201d <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2d\"> </span>2021 <span class=\"_ _2d\"> </span>rappresenta<span class=\"ls1\">va</span><span class=\"ff5d\">no <span class=\"_ _2d\"> </span>l\u2019ammontare <span class=\"_ _2d\"> </span>delle </span>commissioni <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>percepire <span class=\"_ _2d\"> </span>entro<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>i <span class=\"_ _2d\"> </span>12 <span class=\"_ _2d\"> </span>m<span class=\"_ _0\"></span>esi <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>garanzie <span class=\"_ _2a\"> </span>prestate <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>Capogruppo <span class=\"_ _2a\"> </span>su <span class=\"_ _2d\"> </span>finanziamenti <span class=\"_ _2d\"> </span><span class=\"ls3\">e </span>affidamenti ottenuti da societ\u00e0 controllate in particolare KME<span class=\"_ _0\"></span> SE, a favore degli istituti di credito finanziatori e <span class=\"_ _29\"></span>nell\u2019inter<span class=\"ff56\">esse delle <span class=\"_ _2b\"></span>predette societ\u00e0. <span class=\"_ _29\"></span>A <span class=\"_ _29\"></span>tali <span class=\"_ _29\"></span>crediti <span class=\"_ _29\"></span>corrispondevano debiti <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>pari <span class=\"_ _29\"></span>importo. Nel <span class=\"_ _2b\"></span>2022 tale <span class=\"_ _29\"></span>posta </span>risulta azzerat<span class=\"ff5d\">a in quanto le garanzie son<span class=\"_ _0\"></span>o prestate a favore di imprese incluse nel<span class=\"_ _0\"></span>l\u2019area di consolidamento<span class=\"_ _0\"></span></span>. La <span class=\"_ _2d\"> </span>voce <span class=\"_ _2d\"> </span>\u201cAltre <span class=\"_ _2c\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span><span class=\"ff5a\">finanziarie <span class=\"_ _2d\"> </span>correnti<span class=\"ff5d ls3\">\u201d <span class=\"_ _2d\"> </span></span></span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _2d\"> </span>2021 <span class=\"_ _2d\"> </span>comprende<span class=\"ls1\">va</span> <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span><span class=\"ls1\">un </span>deposito oggetto <span class=\"_ _29\"></span>di pegno <span class=\"_ _29\"></span>a <span class=\"_ _29\"></span>garanzia della <span class=\"_ _29\"></span>linea di <span class=\"_ _2b\"></span>credi<span class=\"_ _0\"></span>to in <span class=\"_ _29\"></span>essere con <span class=\"_ _2b\"></span>Banco BPM SpA rimodulato <span class=\"ls3\">a </span>giugno 2022. Gli <span class=\"_ _23\"></span>\u201c<span class=\"ff5a\">Strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _23\"></span>derivat<span class=\"_ _0\"></span>i</span>\u201d <span class=\"_ _23\"></span>acco<span class=\"_ _0\"></span>lgono <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>deriva<span class=\"_ _0\"></span><span class=\"ff56\">ti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>capo <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>gruppo <span class=\"_ _28\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _28\"></span>e </span>comprendono <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>impegni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendi<span class=\"_ _0\"></span>ta <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>acquisto <span class=\"_ _23\"></span>dei <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>tratti <span class=\"_ _22\"></span>LME <span class=\"_ _23\"></span>(<span class=\"ff5a\">Lond<span class=\"_ _0\"></span>on <span class=\"_ _22\"></span>Metal <span class=\"_ _22\"></span>Excha<span class=\"_ _0\"></span>nge</span>) <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>contratti<span class=\"_ _0\"></span> forward su cambi. Tra le \u201c<span class=\"ff5a\">Altre attivit\u00e0 finanziarie correnti</span>\u201d al 31 dicembre 2022 \u00e8 iscritto <span class=\"_ _29\"></span>un importo di Euro 1,3 mili<span class=\"ff56\">oni </span>relativo vantato nei confronti di una societ\u00e0 d<span class=\"_ _0\"></span>i assicurazione.<span class=\"_ _0\"></span> In <span class=\"_ _29\"></span>riferimento <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>indicato da <span class=\"_ _2b\"></span>Consob con <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>Comunicazione <span class=\"_ _2b\"></span>n. DEM/11070007 <span class=\"_ _2b\"></span>del 5 <span class=\"_ _2b\"></span>agosto 2011, che <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>ripreso <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>documento <span class=\"_ _0\"></span>emesso <span class=\"_ _0\"></span>dall'<span class=\"_ _0\"></span><span class=\"ff5a\">European <span class=\"_ _0\"></span>Securities <span class=\"_ _22\"></span>and <span class=\"_ _0\"></span>Markets <span class=\"_ _0\"></span>Authority <span class=\"_ _22\"></span></span>(ESMA),<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>segnala <span class=\"_ _0\"></span>che il Gruppo non ha investimenti in tit<span class=\"_ _0\"></span>oli di debito sovrano. 4.10.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altri crediti ed attivit\u00e0 correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti tributari 11.588  643  10.945  Anticipi a fornitori 1.585   -<span class=\"lsd\">  </span> 1.585  Ratei e risconti attivi 1.845  109  1.736  Crediti verso imprese correla<span class=\"_ _29\"></span>te 77  2.495  (2.418) Altri crediti 1.580  2.433  (853) Altri crediti e attivit\u00e0 corren<span class=\"_ _29\"></span>ti 16.675  5.680  10.995  I <span class=\"_ _28\"></span><span class=\"ff5e ls0\">\u201cCrediti <span class=\"_ _2c\"> </span>tributari\u201d<span class=\"ff56\"> <span class=\"_ _2c\"></span>includono <span class=\"_ _28\"></span>per <span class=\"_ _2c\"></span>Euro <span class=\"_ _28\"></span>4,4 <span class=\"_ _2c\"></span>milioni <span class=\"_ _2c\"></span><span class=\"ff5d\">crediti <span class=\"_ _28\"> </span>d\u2019impo<span class=\"_ _0\"></span>sta <span class=\"_ _28\"></span></span>relativi <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>energia <span class=\"_ _2c\"></span>afferenti <span class=\"_ _28\"></span>al </span></span>gruppo KME SE. L\u2019iscrizione <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>ratei<span class=\"ff56\"> <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>risconti <span class=\"_ _2b\"></span>attivi <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>dovuta <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>rilevazion<span class=\"_ _0\"></span>e <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>costi <span class=\"_ _29\"></span>anticipati <span class=\"_ _2b\"></span>principalmente <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>spese </span>di viaggio e servizi di competenza dei successiv<span class=\"_ _0\"></span>i periodi. I <span class=\"_ _29\"></span><span class=\"ff5e ls0\">\u201cCrediti <span class=\"_ _2b\"></span>verso correlate\u201d<span class=\"ff56\"> <span class=\"_ _2b\"></span>al 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _29\"></span>includevano <span class=\"_ _2b\"></span>principalmente <span class=\"ff5d\">posizioni <span class=\"_ _29\"></span>sorte <span class=\"_ _2b\"></span>nell\u2019ambito </span></span></span>del consolidato <span class=\"_ _0\"></span>fiscale<span class=\"ff5d\">; <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>31 dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>i crediti <span class=\"_ _0\"></span>in essere <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>stati elisi ne<span class=\"_ _0\"></span>ll\u2019ambito del <span class=\"_ _0\"></span>consolidamento<span class=\"_ _0\"></span> </span>integrale <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>sussistono <span class=\"_ _28\"></span>solo <span class=\"_ _28\"></span>E<span class=\"ff5d\">uro <span class=\"_ _28\"></span>77 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>verso <span class=\"_ _28\"></span>un\u2019entit\u00e0 <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>partecipava <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>consolidato <span class=\"_ _28\"></span>fiscale <span class=\"_ _28\"></span>ma <span class=\"_ _28\"></span>non </span>consolidata integralmente al 31 dicembre 2022.<span class=\"_ _0\"></span> 4.11.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Disponibilit\u00e0 liquide e mezzi equivalenti Le \u201c<span class=\"ff5e\">Disponibilit\u00e0 liquide e<span class=\"_ _29\"></span> mez<span class=\"_ _29\"></span>zi equivalenti\u201d<span class=\"ff56\"> sono costituite da <span class=\"_ _29\"></span>depositi bancari <span class=\"_ _29\"></span>e da valori <span class=\"_ _29\"></span>in cassa; <span class=\"_ _29\"></span>al </span></span>31 dicembre 2022 Euro 12 milio<span class=\"_ _0\"></span>ni sono costituiti in pegno. Per <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>dettaglio <span class=\"_ _28\"> </span>della <span class=\"_ _2c\"> </span>liquidit\u00e0 <span class=\"_ _2c\"> </span>generata <span class=\"_ _2c\"> </span>e <span class=\"_ _2c\"> </span>assorbita <span class=\"_ _2c\"> </span>nel <span class=\"_ _2c\"> </span>corso <span class=\"_ _2c\"> </span>dell\u2019esercizio<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2c\"></span>si <span class=\"_ _2c\"></span>rimanda <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span>rendiconto </span>finanziario consolidato; <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>particolare la <span class=\"ff5d\">\u201c</span>variazione <span class=\"_ _2b\"></span>dell'area di <span class=\"_ _29\"></span>consolidamento<span class=\"ff5d\">\u201d</span> ivi <span class=\"_ _2b\"></span>evid<span class=\"_ _0\"></span>enziata <span class=\"_ _29\"></span>(pari <span class=\"_ _29\"></span>ad <span class=\"_ _29\"></span>Euro 104.174 migliaia) \u00e8 relativa per <span class=\"_ _29\"></span>Euro 95.658 migliaia al primo <span class=\"_ _29\"></span>consolidamento effettuato dalla Capogruppo al 30 aprile <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>22 (<span class=\"ff5d\">\u201c</span>variazione <span class=\"_ _2b\"></span>are<span class=\"_ _0\"></span>a di <span class=\"_ _2b\"></span>consol<span class=\"_ _0\"></span>idamento IFRS <span class=\"_ _2b\"></span>10<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d</span>) e <span class=\"_ _29\"></span>per Euro <span class=\"_ _2b\"></span>8.51<span class=\"_ _0\"></span>6 migliaia <span class=\"_ _2b\"></span>a<span class=\"_ _0\"></span><span class=\"ff5d\">ll\u2019acquisizio</span>ne delle entit\u00e0 del perimetro Aurubis effettuata a <span class=\"_ _0\"></span>luglio 2022 da KME SE<span class=\"_ _0\"></span>. Inoltre: \u25aa <span class=\"_ _9a\"> </span>il <span class=\"_ _2d\"> </span><span class=\"ls0\">flusso <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2d\"> </span>netto <span class=\"_ _2d\"> </span>totale <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>investimento <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>dovuto <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>all'investimento </span>nell'operazione commerciale acquisita da Aurubi<span class=\"_ _0\"></span>s per Euro <span class=\"ls1\">75 </span>milioni; \u25aa<span class=\"ff58\"> <span class=\"_ _9a\"> </span><span class=\"ff56 ls9\">il<span class=\"ls0\"> flusso di cassa utilizzato nelle attivit\u00e0 di finanziamento include<span class=\"_ _0\"></span> Euro 110 milioni relativi al rimborso </span></span></span>anticipato del prestito obbligazionario 6\u00be% <span class=\"_ _0\"></span><span class=\"ff5d\">in capo a KME SE finalizzato l\u20198 dicembre 2022<span class=\"_ _0\"></span>.</span>  Si <span class=\"_ _2d\"> </span>ritiene <span class=\"_ _2c\"></span>che <span class=\"_ _2d\"> </span>le <span class=\"_ _2c\"></span>disponibilit\u00e0 <span class=\"_ _2d\"> </span>liquide <span class=\"_ _2d\"> </span>siano <span class=\"_ _2c\"></span>sufficienti<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>Gruppo, <span class=\"_ _2d\"> </span>commerciali <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>di impegno finanziario. 4.12.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>correnti <span class=\"_ _28\"></span>detenute <span class=\"_ _23\"></span>per <span class=\"_ _28\"></span>la <span class=\"_ _23\"></span>vendita <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>direttamente <span class=\"_ _28\"></span>collegate <span class=\"_ _23\"></span>ad <span class=\"_ _28\"></span>attivit\u00e0 possedute per la vendita (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Attivit\u00e0 non correnti possedut<span class=\"_ _29\"></span>e per la vendita 107.198   -<span class=\"lsd\">  </span> 107.198  Passivit\u00e0 direttamente collega<span class=\"_ _29\"></span>te ad attivit\u00e0 possedute per la<span class=\"_ _29\"></span> vendita (68.469)  -<span class=\"lsd\">  </span> (68.469) Attivit\u00e0 nette possedute per la ve<span class=\"_ _29\"></span>ndita 38.729   -<span class=\"lsd\">  </span> 38.729  Alla <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>riferimento <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>bilancio, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>destinate <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>vendita<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>riferiscono <span class=\"_ _23\"></span>a Serravalle Copper Tubes Italy Srl e Trefimetaux SA e<span class=\"_ _0\"></span>d includono<span class=\"_ _0\"></span>: (in migliaia di Euro) 31 dic 2022 Attivit\u00e0 immateriali 15.044  Immobili, impianti e macchina<span class=\"_ _29\"></span>ri 44.583  Partecipazioni 110  Attivit\u00e0 per imposte differite<span class=\"_ _29\"></span> 352  Rimanenze 35.799  Crediti commerciali 317  Altre attivit\u00e0 correnti 6.463  Attivit\u00e0 finanziarie correnti 2.758  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 1.772  Attivit\u00e0 non correnti detenu<span class=\"_ _29\"></span>te per la vendita 107.198  Benefici ai dipendenti (2.836) Fondi (11.846) Passivit\u00e0 finanziarie (11.952) Altre passivit\u00e0 correnti (5.302) Debiti verso fornitori (36.533) Passivit\u00e0 direttamente colleg<span class=\"_ _29\"></span>ate ad attivit\u00e0 possedute per la vendita (68.469) Attivit\u00e0 (Passivit\u00e0) nette possedute<span class=\"_ _29\"></span> per la vendita 38.729  Al <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>destinate <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>vendita <span class=\"_ _0\"></span>contengono <span class=\"_ _0\"></span>diritti<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>d'uso <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>365 <span class=\"_ _0\"></span>migliaia<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ls3\">e </span>le passivit\u00e0 collegate ad esse compren<span class=\"_ _0\"></span>dono debiti per leasing per Eu<span class=\"_ _0\"></span>ro 476 migliaia. 4.13.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Patrimonio netto di Gruppo Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto<span class=\"ff5d ls3\">\u201d.<span class=\"_ _0\"></span></span><span class=\"ff56\"> </span>La movimentazione del patrimonio netto i<span class=\"_ _0\"></span>nclude gli effetti: \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019allocazione <span class=\"_ _2c\"> </span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>esercizio <span class=\"_ _2d\"> </span>annuale <span class=\"_ _2c\"> </span>2021 <span class=\"_ _2c\"> </span>della <span class=\"_ _2c\"> </span>Capogr<span class=\"_ _0\"></span>uppo <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>ad <span class=\"_ _28\"> </span>Euro<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>65.306 </span>migliaia, come approvato dall\u2019<span class=\"ff56\">Assemblea degli azionisti del 9 maggio 2022, cos\u00ec destinato: pe<span class=\"_ _29\"></span>r </span>il <span class=\"_ _0\"></span>5%, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>3.265 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>riserva <span class=\"_ _0\"></span>legal<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>residuo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>62.041 <span class=\"_ _22\"></span>migliaia mediante <span class=\"_ _2d\"> </span>accantonamento <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>apposita <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2d\"> </span>indisponibile, <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>sensi <span class=\"_ _2d\"> </span>dell\u2019art. <span class=\"_ _2d\"> </span>6 <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span>D. <span class=\"_ _2d\"> </span>Lgs. 38/2005, <span class=\"_ _2c\"> </span>degli <span class=\"_ _2c\"> </span>utili <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _28\"></span>dall\u2019applicazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>criterio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value <span class=\"_ _2c\"> </span><span class=\"ff56\">(in<span class=\"_ _0\"></span>cremento <span class=\"_ _2c\"></span>delle </span></span>\u201cAltre riserve\u201d)<span class=\"ff5a\">;<span class=\"ff56\"> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56 ls1\">de</span><span class=\"ff5d\">ll\u2019operazione <span class=\"_ _2f\"> </span>perseguita <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2f\"> </span>Capogruppo<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>relative <span class=\"_ _2f\"> </span>alle <span class=\"_ _2f\"> </span>Offerte <span class=\"_ _2f\"> </span>Pubbliche <span class=\"_ _2f\"> </span>di <span class=\"_ _41\"> </span>Scambio<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span>(\u201cOfferte\u201d)<span class=\"ff56\"> <span class=\"_ _28\"></span>concluse <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>23 <span class=\"_ _23\"></span>settembre <span class=\"_ _28\"></span>u.s. <span class=\"_ _2c\"></span>la <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span></span>ha <span class=\"_ _23\"></span>comportato<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>l\u2019annullamento <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>azioni<span class=\"_ _0\"></span> ordinarie, <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>risparmio <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2a\"> </span>warrant <span class=\"_ _2d\"> </span>portati <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>adesione, <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>esecuzione <span class=\"_\"> </span>della <span class=\"_ _2d\"> </span>delibera dell\u2019Assemblea <span class=\"_ _2a\"> </span>straordinaria <span class=\"_ _2a\"> </span>della <span class=\"_ _2a\"> </span>Societ\u00e0 <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>16<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>giugno <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2d\"> </span>senza <span class=\"_\"> </span>alcuna <span class=\"_ _2a\"> </span>riduzione <span class=\"_ _2a\"> </span>di capitale, con conseguente <span class=\"_ _0\"></span>automatico incremento <span class=\"_ _0\"></span>della \u201cparit\u00e0 cont<span class=\"_ _0\"></span>abile implicita\u201d delle a<span class=\"_ _0\"></span>zioni residue. <span class=\"_ _2d\"> </span>Il <span class=\"_ _2a\"> </span>corrispettivo <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>Offerte <span class=\"_ _2d\"> </span>era <span class=\"_ _2a\"> </span>costituito <span class=\"_ _2d\"> </span>da <span class=\"_ _2a\"> </span>obbligazioni <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _2d\"> </span>dal <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estito obbligazionario <span class=\"_ _23\"></span>\u201cKME <span class=\"_ _28\"></span>Group <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"></span>2022 <span class=\"_ _28\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _23\"></span></span>20<span class=\"_ _0\"></span>27\u201d, <span class=\"_ _23\"></span>pertanto, <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>risultati <span class=\"_ _23\"></span>definitivi delle <span class=\"_ _2d\"> </span>Offerte, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>ha <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>complessive <span class=\"_ _2d\"> </span>n.<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>63.533.259 <span class=\"_ _2a\"> </span>Obbligazioni <span class=\"_ _2d\"> </span>2022, <span class=\"_ _2d\"> </span>per <span class=\"_ _2a\"> </span>un controvalore complessivo pari ad Eu<span class=\"_ _0\"></span>ro 63,5 milioni; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">della <span class=\"_ _0\"></span>riduzio<span class=\"_ _0\"></span>ne <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>capitale <span class=\"_ _22\"></span>sociale, <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>dell\u2019art. <span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>45 <span class=\"_ _0\"></span>c.c., <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>l\u2019importo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>nominali <span class=\"_ _22\"></span>Euro </span></span>135.000.000,00, <span class=\"_ _2a\"> </span>mediante <span class=\"_ _2d\"> </span>impu<span class=\"_ _0\"></span>tazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>uguale <span class=\"_\"> </span>ammontare <span class=\"_ _2d\"> </span>a <span class=\"_\"> </span>una <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2a\"> </span>disponibile <span class=\"_ _2a\"> </span>del Patrimonio netto, senza annullamento di azioni.<span class=\"_ _0\"></span> Il <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Capitale <span class=\"_ _2b\"></span>Sociale<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 dicembre <span class=\"_ _2b\"></span>2022 \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>Euro<span class=\"_ _0\"></span><span class=\"ff56\"> 200.070.087,67 suddiviso <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>n. <span class=\"_ _2b\"></span>306.937.0<span class=\"_ _0\"></span>71 </span></span></span>azioni <span class=\"_ _2b\"></span>ordinarie <span class=\"_ _29\"></span>(95,27% <span class=\"_ _2b\"></span>sul <span class=\"_ _29\"></span>capitale) <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>n.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>15.246.505<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>risparmio <span class=\"_ _2b\"></span>(4,73% sul <span class=\"_ _2b\"></span>capitale). <span class=\"_ _2b\"></span>Tutte le azioni sono prive di indicazione del valore nominale. <span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019accantonamento <span class=\"_ _8b\"> </span>ad <span class=\"_ _2e\"> </span>apposit<span class=\"_ _0\"></span>a <span class=\"_ _8b\"> </span>riserva <span class=\"_ _2e\"> </span>inclusa <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>\u201cAltre <span class=\"_ _2e\"> </span>riserve\u201d <span class=\"_ _2e\"> </span>dei <span class=\"_ _2e\"> </span>costi <span class=\"_ _8b\"> </span>sui <span class=\"_ _2e\"> </span>Warrant </span>Management <span class=\"_ _2b\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>attuariale <span class=\"_ _29\"></span>effettuato <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>applicazione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>previsioni <span class=\"_ _2b\"></span>dell\u2019IFRS<span class=\"_ _0\"></span> 2. Tali costi sono inclusi nella voce \u201cAltri costi o<span class=\"_ _0\"></span>perativi\u201d.<span class=\"ff56\"> </span>I <span class=\"_ _22\"></span>sudde<span class=\"_ _0\"></span>tti <span class=\"_ _22\"></span>Warrant <span class=\"_ _23\"></span>Management <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>esercitabili <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>28 <span class=\"_ _23\"></span>giugno <span class=\"_ _22\"></span>2024 <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>prezzo <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>esercizio <span class=\"_ _23\"></span>di Euro <span class=\"_ _0\"></span>0,40 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span><span class=\"ff5a\">warrant<span class=\"_ _0\"></span></span>; <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>stati <span class=\"_ _0\"></span>emessi <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>esecuzione <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>delibera <span class=\"_ _22\"></span>assembleare <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>Societ\u00e0 <span class=\"_ _0\"></span>in data <span class=\"_ _3c\"> </span>30 <span class=\"_ _49\"> </span>novembre <span class=\"_ _49\"> </span>2020 <span class=\"_ _49\"> </span>e <span class=\"_ _3c\"> </span>succ<span class=\"_ _0\"></span>essivamente <span class=\"_ _49\"> </span>assegnati <span class=\"_ _49\"> </span>a <span class=\"_ _3c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>appr<span class=\"_ _0\"></span>ovazion<span class=\"_ _0\"></span>e <span class=\"_ _3c\"> </span>da <span class=\"_ _49\"> </span>parte dell\u2019Assemblea ordinaria e straordinaria dell\u20198 giugno 2021 della Politica della Remunerazione per il triennio 2021-2023 e del Piano di Incentivazione Amministratori Esecutivi 2021-2024<span class=\"_ _0\"></span>; sono stati assegnati co<span class=\"_ _0\"></span>mplessivamente <span class=\"_ _0\"></span>n. 37,5<span class=\"_ _0\"></span> milio<span class=\"_ _0\"></span>ni di <span class=\"_ _0\"></span>Warrant <span class=\"_ _0\"></span>Management, <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>n. 25 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>mese di luglio 2021 e n. 12,5 milioni nel mese di giugno 2022.<span class=\"_ _0\"></span> Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto consolida<span class=\"_ _0\"></span>to al 31 dicembre 2022<span class=\"_ _0\"></span><span class=\"ff5d ls3\">\u201d.</span><span class=\"ff56\"> </span>Informazioni sulle azioni proprie Al 31 dicembre 20<span class=\"_ _0\"></span>22 la Societ\u00e0 detiene <span class=\"_ _0\"></span>n. 6.937.311 azioni <span class=\"_ _0\"></span>ordinarie proprie pari al <span class=\"_ _0\"></span>2,26% del capitale ordinario <span class=\"_ _23\"></span>(2,15% <span class=\"_ _22\"></span>sul <span class=\"_ _23\"></span>capitale <span class=\"_ _22\"></span>complessiv<span class=\"_ _0\"></span>o). <span class=\"_ _23\"></span>Non <span class=\"_ _23\"></span>vi <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>movimentazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>questa <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>corso <span class=\"_ _23\"></span>del 2022. 4.14.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Benefici ai dipendenti La <span class=\"_ _2b\"></span>voce <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>relativa <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5e\">\u201cTra<span class=\"_ _0\"></span>ttamento <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>fine <span class=\"_ _2b\"></span>rappo<span class=\"_ _0\"></span>rto\u201d<span class=\"ff5d\">; <span class=\"_ _2b\"></span>l\u2019importo<span class=\"_ _0\"></span>, <span class=\"_ _2b\"></span>determinato <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>base <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>competenze </span></span>maturate <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>fine <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019esercizio</span> <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>alla legg<span class=\"_ _0\"></span>e ed <span class=\"_ _22\"></span>ai con<span class=\"_ _0\"></span>tratti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>lavoro <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>principio <span class=\"_ _0\"></span>contabil<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>IAS <span class=\"_ _0\"></span>19<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>\u00e8 cos\u00ec composto: (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Benefici ai dipendenti 127.588  418  127.170  La movimentazione della voce \u00e8 la seguent<span class=\"_ _0\"></span>e: Variazione 31 dic area di Decrementi/ 31 dic (in migliaia di Euro) Incrementi Versamenti 2021 consolidamento versamenti 2022 IFRS 10 Benefici a dipendenti 418  152.954  3.591  (29.375) 127.588  Si riportano di seguito i <span class=\"ff5d\">pr<span class=\"_ _0\"></span>incipali criteri utilizzati nella valutazione dei \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Benefici a dipendenti</span><span class=\"ls3\">\u201d:<span class=\"_ _0\"></span></span></span> Criteri generali adottati 31 dic 2022 31 dic 2021 Tasso di attualizzazione 4,14% 0,98% Tasso incremento retribuzi<span class=\"_ _29\"></span>oni future 1,00-5,00% 1,00% Incremento futuro delle prestazi<span class=\"_ _29\"></span>oni 1,95-3,23% 1,95-2,85% Vita lavorativa residua media <span class=\"_ _29\"></span>(anni) 11,1  12,0  Criteri generali adottati Il Gruppo <span class=\"_ _0\"></span>ha dipenden<span class=\"_ _0\"></span>ti in Italia <span class=\"_ _0\"></span>e all\u2019<span class=\"_ _0\"></span>estero<span class=\"_ _0\"></span><span class=\"ff56\">, per <span class=\"_ _0\"></span>lo pi\u00f9 <span class=\"_ _0\"></span>in Germania <span class=\"_ _0\"></span>e Gr<span class=\"_ _0\"></span>an Bretagna; <span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>a maggior <span class=\"_ _0\"></span>parte </span>dei dipen<span class=\"_ _0\"></span>denti del <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>beneficia <span class=\"_ _0\"></span>di pr<span class=\"_ _0\"></span>estazioni <span class=\"_ _0\"></span>pensionistiche, il <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>tipo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>erogazione varia <span class=\"_ _23\"></span>quindi da Paese a Paese in base al contesto giuridico, economico e fiscale nazionale. I piani pensionistici del Gruppo comprendono sia piani a contrib<span class=\"_ _0\"></span>uzione definita sia piani a prestazioni definite.<span class=\"_ _0\"></span> In <span class=\"_\"> </span>Germania <span class=\"_ _2e\"> </span>i <span class=\"_\"> </span>dipenden<span class=\"_ _0\"></span>ti <span class=\"_\"> </span>con <span class=\"_ _8b\"> </span>incarichi <span class=\"_ _8b\"> </span>esecutivi <span class=\"_ _8b\"> </span>han<span class=\"_ _0\"></span>no <span class=\"_\"> </span>diritto <span class=\"_ _8b\"> </span>al <span class=\"_ _2e\"> </span>pagamento <span class=\"_\"> </span>di <span class=\"_ _2e\"> </span>una <span class=\"_\"> </span>prestazione determinata individualmente che diventa esigibile al compimento del 65\u00b0 anno di et\u00e0 o prima, a secon<span class=\"_ _0\"></span>da delle possibilit\u00e0 <span class=\"_\"> </span>previste <span class=\"_ _2a\"> </span>dal <span class=\"_ _2a\"> </span>fondo <span class=\"_\"> </span>ass<span class=\"_ _29\"></span>icurativo <span class=\"_\"> </span>pensionistico <span class=\"_ _2a\"> </span>obbligatorio. <span class=\"_\"> </span>A <span class=\"_ _2d\"> </span>partire <span class=\"_\"> </span>dal <span class=\"_\"> </span>2017 <span class=\"_\"> </span>in <span class=\"_\"> </span>Germ<span class=\"_ _29\"></span>ania <span class=\"_\"> </span><span class=\"ls17\">i </span>dipendenti con incarichi esecutivi <span class=\"_ _0\"></span>ottengono solo impegni per piani a cont<span class=\"_ _0\"></span>ribuzione definita. Per <span class=\"_ _23\"></span>un'ampia <span class=\"_ _23\"></span>percentuale <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>dipendenti <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>previsti <span class=\"_ _23\"></span>piani <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>prestazioni <span class=\"_ _23\"></span>definite <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>second<span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>della data <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>inizio <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>rapporto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>lavoro con <span class=\"_ _2b\"></span>l'azienda, <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>conformit\u00e0 <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>contratto <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>lavoro, <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>importo \u00e8 <span class=\"_ _2b\"></span>calcolato come percentuale del salario pension<span class=\"_ _0\"></span>abile per ogni anno di servizio qualificante<span class=\"_ _0\"></span>.  A <span class=\"_ _0\"></span>partire <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>1\u00b0 <span class=\"_ _22\"></span>gennaio <span class=\"_ _0\"></span>2018, <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dipendenti <span class=\"_ _0\"></span>riceverann<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>invece <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>supplemento <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>contribuzione <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>la conversione dello stipendio nell'ambito di un<span class=\"_ _0\"></span> piano a contribuzione definita.<span class=\"_ _0\"></span> Il totale degli obblighi pensionistici derivanti da <span class=\"_ _29\"></span>piani a benefici definiti in Germania ammonta ad Euro<span class=\"_ _29\"></span> 104.804 migliaia al netto delle attivit\u00e0 a <span class=\"_ _0\"></span>servizio del piano che ammontano<span class=\"_ _0\"></span> ad Euro<span class=\"_ _0\"></span> 780 migliaia.  In <span class=\"_ _0\"></span>Gran <span class=\"_ _0\"></span>Bretagna <span class=\"_ _0\"></span>esistono <span class=\"_ _0\"></span>pi<span class=\"_ _0\"></span>ani <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>benefici <span class=\"_ _0\"></span>definiti <span class=\"_ _22\"></span>per i <span class=\"_ _22\"></span>dipendenti che <span class=\"_ _22\"></span>prevedono <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>pagamento <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>una pensione <span class=\"_ _23\"></span>dopo <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>65 <span class=\"_ _23\"></span>anni. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>piano <span class=\"_ _28\"></span>prevede <span class=\"_ _23\"></span>l'obbligo <span class=\"_ _23\"></span>legale <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>coprire <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>obblighi <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _28\"></span>di importo <span class=\"_ _28\"></span>equivalente. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>piano <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"></span>investite <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>azioni <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>fondi, <span class=\"_ _28\"></span>titoli <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>tasso <span class=\"_ _28\"></span>fisso, <span class=\"_ _28\"></span>immob<span class=\"_ _0\"></span>ili <span class=\"_ _28\"></span>e depositi <span class=\"_ _22\"></span>bancari. <span class=\"_ _22\"></span>L'organo <span class=\"_ _22\"></span>decisio<span class=\"_ _0\"></span>nale <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>ogni <span class=\"_ _23\"></span>caso <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>u<span class=\"_ _22\"></span>n <span class=\"_ _22\"></span>cosiddetto <span class=\"_ _22\"></span>\"Consiglio<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>amministrazione\". <span class=\"_ _22\"></span>Il <span class=\"_ _23\"></span>totale degli <span class=\"_ _22\"></span>obblighi <span class=\"_ _23\"></span>pensionistici <span class=\"_ _22\"></span>derivanti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>pi<span class=\"_ _0\"></span>ani <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>definiti <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>Gran <span class=\"_ _23\"></span>Bretagna <span class=\"_ _22\"></span>ammonta <span class=\"_ _22\"></span>a<span class=\"_ _0\"></span>d <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>75.036 migliaia. A questi si contrapp<span class=\"_ _0\"></span>ongono attivit\u00e0 a servizio del piano<span class=\"_ _0\"></span> per un importo di <span class=\"_ _0\"></span>Eu<span class=\"_ _0\"></span>ro <span class=\"ls1\">58.</span>642 migliaia, con un'obbligazione netta di Euro 16.394 <span class=\"_ _0\"></span>migliaia<span class=\"lsb\">. </span> I <span class=\"_ _23\"></span>piani <span class=\"_ _28\"></span>pensionistici <span class=\"_ _28\"></span>definiti <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>Italia <span class=\"_ _23\"></span>in<span class=\"_ _0\"></span>cludono <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>normativa <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>pagamento <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _28\"></span>capitale <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>base <span class=\"_ _23\"></span>al<span class=\"_ _0\"></span> periodo <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>servizio <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>retribuzione <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>c<span class=\"_ _0\"></span>essazione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>rapp<span class=\"_ _0\"></span>orto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>lavoro<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>(TFR)<span class=\"lsb\">. <span class=\"_ _23\"></span></span>Il <span class=\"_ _23\"></span>totale <span class=\"_ _28\"></span>degli <span class=\"_ _23\"></span>obblighi pensionistici derivanti dai piani a benefici defini<span class=\"_ _0\"></span>ti in Italia ammonta a<span class=\"_ _0\"></span>d Euro 6.119 migliaia. Rischi connessi ai piani a benefici definiti<span class=\"_ _0\"></span> Il rischio principale, oltre al normale rischio attuariale - che include il rischio di longevit\u00e0 e il rischio di cambio <span class=\"_ _2d\"> </span>- <span class=\"_ _2d\"> </span>riguarda <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>rischio <span class=\"_ _2d\"> </span>finanziario <span class=\"_ _2d\"> </span>associato <span class=\"_ _2d\"> </span>alle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>del<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>piano. <span class=\"_ _2d\"> </span>Per <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2d\"> </span>riguarda <span class=\"_ _2d\"> </span>le <span class=\"_ _2c\"></span>passivit\u00e0<span class=\"_ _0\"></span> previdenziali, <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>tratta <span class=\"_ _22\"></span>soprattutto <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>inflazione <span class=\"_ _22\"></span>nei <span class=\"_ _0\"></span>piani <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>prestazioni <span class=\"_ _22\"></span>legate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>salario; <span class=\"_ _0\"></span>un <span class=\"_ _22\"></span>forte aumento delle retribuzioni aumenterebbe l'obbligo di tali piani. Nel Gruppo<span class=\"_ _0\"></span>, piani di questo tipo esistono solo su scala ridotta e sono in gran parte preclusi ai nuo<span class=\"_ _0\"></span>vi assunti. Per <span class=\"_ _23\"></span>quanto <span class=\"_ _23\"></span>riguarda <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>aumenti <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>pensioni <span class=\"_ _23\"></span>attualmente <span class=\"_ _23\"></span>erogate, <span class=\"_ _23\"></span>all'interno <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gr<span class=\"_ _0\"></span>uppo <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>esiste alcun <span class=\"_ _23\"></span>accordo <span class=\"_ _23\"></span>pensionistico <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>comporti <span class=\"_ _23\"></span>l'obbligo <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>aumentare <span class=\"_ _23\"></span>l'importo <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>misura <span class=\"_ _23\"></span>superiore all'inflazione o all'eccedenza generata dalle attivit\u00e0 d<span class=\"_ _0\"></span>el piano. Il <span class=\"_ _22\"></span>rendimento <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>servizio <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>piano<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _22\"></span>IAS <span class=\"_ _22\"></span>19<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>ipotizzato <span class=\"_ _0\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>del tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto <span class=\"_ _22\"></span>dell'obbligazione <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>definiti.<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>Se <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>rendimento <span class=\"_ _22\"></span>effettivo <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>inferior<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>tasso <span class=\"_ _22\"></span>di sconto, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>netta <span class=\"_ _22\"></span>aumenta. <span class=\"_ _22\"></span>Per <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>piani <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>capitalizzazione, <span class=\"_ _22\"></span>tuttavia, <span class=\"_ _22\"></span>soprattutto <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>considera<span class=\"_ _0\"></span>zione <span class=\"_ _22\"></span>della quota <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>servizio del <span class=\"_ _2b\"></span>piano <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span>vestite <span class=\"_ _2b\"></span>in azioni, <span class=\"_ _2b\"></span>ci <span class=\"_ _29\"></span>aspettiamo <span class=\"_ _2b\"></span>che i <span class=\"_ _2b\"></span>rendimenti <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>lungo termine <span class=\"_ _2b\"></span>superino il <span class=\"_ _28\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>s<span class=\"_ _0\"></span>conto. <span class=\"_ _28\"></span>Tuttavia, <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>possono <span class=\"_ _28\"></span>escludere <span class=\"_ _28\"></span>fluttuazioni <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>breve <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>medio <span class=\"_ _28\"></span>termine, <span class=\"_ _28\"></span>con <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>effetto corrispondente <span class=\"_ _28\"></span>sulla <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>netta. <span class=\"_ _23\"></span>A <span class=\"_ _28\"></span>tal <span class=\"_ _28\"></span>proposito <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>state <span class=\"_ _23\"></span>effettuate<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>analisi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>sensitiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _23\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>base <span class=\"_ _28\"></span>di alcuni parametri (variazione del tasso d<span class=\"_ _0\"></span>i mortalit\u00e0, tasso di sconto, et\u00e0 di pensionamento)<span class=\"_ _0\"></span>. Ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>pi<span class=\"_ _0\"></span>ano <span class=\"_ _22\"></span>pensionistico <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>Gran <span class=\"_ _23\"></span>Bretagna, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>piani <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>essere <span class=\"_ _22\"></span><span class=\"ls1\">non <span class=\"_ _22\"></span></span>hanno <span class=\"_ _23\"></span>bisogno <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>essere<span class=\"_ _0\"></span> finanziati in quanto per gli stessi \u00e8 sufficiente <span class=\"_ _0\"></span>dal flusso di cassa corrente.<span class=\"_ _0\"></span> I contributi al <span class=\"_ _29\"></span>piano, nel <span class=\"_ _29\"></span>prossimo esercizio finanziario, dovrebbero <span class=\"_ _29\"></span>ammontare ad Euro <span class=\"_ _29\"></span>5.072 migliaia. 4.15.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Debiti e passivit\u00e0 finanziarie non corren<span class=\"_ _0\"></span>ti e correnti Il dettaglio della voce \u00e8 il seguente: (in migliaia di Euro)<span class=\"ff56 fs0\"> </span>31 dic 2022 31 dic 2021 Variazioni 240.758  2.445  238.313  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti 109.455  29.677  79.778  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti Debiti e passivit\u00e0 finanzi<span class=\"_ _29\"></span>arie 350.213  32.122  318.091  31 dic 2022 31 dic 2021 (in migliaia di Euro)<span class=\"ff56 fs0\"> </span>Correnti Non correnti Correnti Non correnti Debiti per garanzie finanzia<span class=\"_ _29\"></span>rie rilasciate  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 235  5 <span class=\"ls0\"> </span>Debiti verso istituti di credito<span class=\"_ _29\"></span> 80.132  138.610  25.223   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Strumenti finanziari deri<span class=\"_ _29\"></span>vati 10.652   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti per titoli obbligazi<span class=\"_ _29\"></span>onari emessi 4.478   - 3.616   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti per factoring 1.424   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti per leasing 4.709  11.169  139  46  Debiti per leasing - parti correla<span class=\"_ _29\"></span>te  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 464  2.394  Altri debiti finanziari 8.060  90.979   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanzi<span class=\"_ _29\"></span>arie 109.455  240.758  29.677  2.445  Al 31 dicembre 2022 sono in essere i seguenti <span class=\"_ _0\"></span>principali finanziamen<span class=\"_ _0\"></span>ti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">KME <span class=\"_ _2b\"></span>SE: <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>330 milioni <span class=\"_ _2b\"></span>relativi <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>finanziamento <span class=\"_ _2b\"></span>ban<span class=\"_ _0\"></span>cario <span class=\"_ _2b\"></span>in <span class=\"ff5a\">pool</span> <span class=\"_ _2b\"></span>utilizzabile in <span class=\"_ _2b\"></span>forma <span class=\"_ _2b\"></span><span class=\"ff5a\">revolving<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span></span></span>e con scadenza 30<span class=\"_ _0\"></span> novembre 2023, <span class=\"_ _0\"></span>pi\u00f9 un\u2019opzione <span class=\"_ _0\"></span>per l\u2019estensione di <span class=\"_ _0\"></span>ulteriori tre an<span class=\"_ _22\"></span><span class=\"ff56 ls1\">ni<span class=\"ls0\"> subordinata </span></span>al consenso <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>i<span class=\"ff5d\">stituti <span class=\"_ _0\"></span>finanziatori <span class=\"_ _0\"></span>coinvolti <span class=\"_ _0\"></span>nell\u2019operazione. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>linea rispo<span class=\"_ _0\"></span>nde ai <span class=\"_ _0\"></span>fabbisogni </span>di finanziamento di capitale circolante del Gruppo KME SE legati, principalmente, alle <span class=\"_ _29\"></span>giacenze di magazzino. La linea di <span class=\"_ _29\"></span>credito \u00e8 stata utilizzata <span class=\"_ _29\"></span>con lettere di credito <span class=\"_ _29\"></span>per pagamenti a fornitori <span class=\"_ _29\"></span>di metallo per <span class=\"_ _29\"></span>un importo di Euro 324,9 milioni. le cui passivit\u00e0 sono espo<span class=\"_ _0\"></span>ste tra i debiti commerciali o altri debiti.<span class=\"_ _0\"></span> L'estensione della linea di credito del pool d<span class=\"_ _0\"></span>i banche beneficia delle segue<span class=\"_ _0\"></span>nti garanzie: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un pegno, con riserva di diritto di voto, sulle azioni di KME Italy S.p.A.;<span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un'ipoteca <span class=\"_ _0\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>propriet\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>Grundst<span class=\"_ _0\"></span>\u00fccksgesellschaft <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>&amp; <span class=\"_ _22\"></span>Co.<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>KG <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>parte <span class=\"_ _22\"></span>delle attrezzature e dei macchinari di KME Mansfeld Gmb<span class=\"_ _0\"></span>H a Hettstedt; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un peg<span class=\"_ _0\"></span>no <span class=\"_ _0\"></span>sulle <span class=\"_ _0\"></span>rimanenze <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>su <span class=\"_ _0\"></span>parte <span class=\"_ _0\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>crediti <span class=\"_ _0\"></span>commerciali <span class=\"_ _0\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _0\"></span>oggetto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>factorin<span class=\"_ _0\"></span>g <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>dei crediti a breve termine delle societ\u00e0 industriali euro<span class=\"_ _0\"></span>pee del gruppo KME SE;<span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un pegno su alcuni contratti di factoring e di assicurazione.<span class=\"_ _0\"></span> Il 25 <span class=\"_ _0\"></span>novembre <span class=\"_ _0\"></span>2022, <span class=\"_ _0\"></span>KME SE <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>rinnovato <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>linea <span class=\"_ _0\"></span>di credito <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>pool <span class=\"_ _0\"></span>fino al<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>novembre 20<span class=\"_ _0\"></span>23, con un'opzione <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>un'ulteriore <span class=\"_ _23\"></span>estensione <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>tre <span class=\"_ _23\"></span>anni <span class=\"_ _23\"></span>con <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>consenso <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>finanziatori, <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>importo totale fino ad Euro 330 milioni. \u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">KME <span class=\"_ _2c\"> </span>SE:<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>Euro <span class=\"_ _2d\"> </span>20 <span class=\"_ _2c\"></span>milioni <span class=\"_ _2d\"> </span>relativi <span class=\"_ _2d\"> </span>alla <span class=\"_ _2c\"> </span>nuov<span class=\"_ _0\"></span>a <span class=\"_ _2d\"> </span>linea <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>credi<span class=\"_ _0\"></span>to <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>Euro <span class=\"_ _2c\"></span>110 <span class=\"_ _2d\"> </span>milioni <span class=\"_ _2d\"> </span>stipulata <span class=\"_ _2c\"> </span>a<span class=\"_ _0\"></span> </span>novembre <span class=\"_ _29\"></span>2022 <span class=\"_ _29\"></span>con <span class=\"_ _29\"></span>Goldman <span class=\"_ _2b\"></span>Sachs Bank <span class=\"_ _2b\"></span>USA, con <span class=\"_ _2b\"></span>scadenza ottobre <span class=\"_ _2b\"></span>2023 e <span class=\"_ _2b\"></span>garantita da <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>pegno, con <span class=\"_ _29\"></span>riserva <span class=\"_ _29\"></span>di diritti <span class=\"_ _2b\"></span>di voto, <span class=\"_ _2b\"></span>sulle azioni <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>KME <span class=\"_ _29\"></span>Special <span class=\"_ _29\"></span>Products GmbH <span class=\"_ _2b\"></span>&amp; Co. <span class=\"_ _2b\"></span>KG e <span class=\"_ _29\"></span>da <span class=\"_ _29\"></span>un'ipoteca sulle <span class=\"_\"> </span>attrezzature <span class=\"_\"> </span>industriali <span class=\"_\"> </span>dello<span class=\"_ _0\"></span> <span class=\"_\"> </span>stabilimento <span class=\"_\"> </span>di <span class=\"_\"> </span>Osnabr\u00fc<span class=\"_ _0\"></span>ck <span class=\"_\"> </span>(di <span class=\"_\"> </span>propriet\u00e0 <span class=\"_\"> </span>di <span class=\"_\"> </span>KME <span class=\"_\"> </span>Germany<span class=\"_ _0\"></span> GmbH). A fine dicembre 2022, tale il finan<span class=\"_ _0\"></span>ziamento era in essere per Euro 20 milioni<span class=\"_ _0\"></span>. \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">KME <span class=\"_ _23\"></span>Group <span class=\"_ _23\"></span>SpA: <span class=\"_ _23\"></span>Euro <span class=\"_ _23\"></span>20 <span class=\"_ _23\"></span>milioni <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>scadenza <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>18 <span class=\"_ _23\"></span>mesi, <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>pegno <span class=\"_ _23\"></span>sulle <span class=\"_ _23\"></span>azioni <span class=\"_ _23\"></span>CULTI </span></span>Milano <span class=\"_ _0\"></span>S.p.A. <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>previsione <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>covenant <span class=\"_ _22\"></span>finanziari, <span class=\"_ _0\"></span>soggetti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>verifica <span class=\"_ _0\"></span>semestrale, <span class=\"_ _22\"></span>legati <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>rapporto tra Posizione <span class=\"_ _29\"></span>Finanziaria Netta <span class=\"_ _2b\"></span>e Patrimonio Netto <span class=\"_ _29\"></span>e all\u2019ammontare <span class=\"_ _29\"></span>del Patrimonio <span class=\"_ _29\"></span>Netto e <span class=\"_ _2b\"></span>clausole di cross default; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">KME <span class=\"_ _0\"></span>Italy <span class=\"_ _22\"></span>SpA <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>Serravalle <span class=\"_ _22\"></span>Copper <span class=\"_ _23\"></span>Tubes <span class=\"_ _0\"></span>Srl: <span class=\"_ _22\"></span>Euro <span class=\"_ _22\"></span>75 <span class=\"_ _22\"></span>milioni <span class=\"_ _22\"></span>(di <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>Euro <span class=\"_ _22\"></span>65 <span class=\"_ _22\"></span>milioni <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>capo <span class=\"_ _22\"></span>a </span></span>KME Italy SpA) relativi <span class=\"_ _29\"></span>al contratto di <span class=\"_ _29\"></span>finanziamento a 6 <span class=\"_ _29\"></span>anni, stipulato a <span class=\"_ _29\"></span>marzo 2022, con <span class=\"_ _29\"></span>un <span class=\"ff5a\">pool</span> di <span class=\"_ _22\"></span>banche <span class=\"_ _22\"></span>italiane <span class=\"_ _22\"></span>sup<span class=\"_ _0\"></span>portato <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>un<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>garanzia <span class=\"_ _22\"></span>SACE. <span class=\"_ _23\"></span>Il <span class=\"_ _22\"></span>finanziamento <span class=\"_ _22\"></span>viene <span class=\"_ _22\"></span>ammortizzato <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>rate uguali a partire dal 1\u00b0 trimestre del 2003 fin<span class=\"_ _0\"></span>o alla fine del 2027; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">KME <span class=\"_ _29\"></span>Italy S.p.A.: <span class=\"_ _29\"></span>Euro 15 <span class=\"_ _2b\"></span>milioni relativi ad <span class=\"_ _29\"></span>un <span class=\"_ _29\"></span>ulteriore contratto <span class=\"_ _29\"></span>di finanziamento <span class=\"_ _2b\"></span>della durata di </span></span>6 <span class=\"_ _0\"></span>anni, <span class=\"_ _22\"></span>stipulato <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>luglio <span class=\"_ _22\"></span>2022, <span class=\"_ _22\"></span>assistito <span class=\"_ _0\"></span>da <span class=\"_ _22\"></span>garanzia <span class=\"_ _0\"></span>SACE. <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziamento <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>ammortizza <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>rate uguali a partire dal 1\u00b0 trimestre del 2003 fin<span class=\"_ _0\"></span>o alla fine del 2027; \u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">KME <span class=\"_ _2c\"> </span>Italy <span class=\"_ _2d\"> </span>S.p.A.: <span class=\"_ _2d\"> </span>Euro <span class=\"_ _2c\"></span>59 <span class=\"_ _2d\"> </span>milioni, <span class=\"_ _2c\"> </span>relativi <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>tratto <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>finanziamento <span class=\"_ _2d\"> </span>a <span class=\"_ _2c\"></span>6 <span class=\"_ _2d\"> </span>anni, <span class=\"_ _2c\"> </span>stip<span class=\"_ _0\"></span>ulato <span class=\"_ _2d\"> </span>a </span>novembre <span class=\"_ _23\"></span>2022, <span class=\"_ _23\"></span>assistito <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>garanzia <span class=\"_ _23\"></span>SACE. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>finanziamento <span class=\"_ _23\"></span>viene <span class=\"_ _23\"></span>ammor<span class=\"_ _0\"></span>tizzato <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>rate<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>pari importo a partire dal quarto trimestre 20<span class=\"_ _0\"></span>23 fino alla fine del <span class=\"_ _0\"></span>terzo trimestre 20<span class=\"ls1\">28</span>; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">KME Mansfeld <span class=\"_ _0\"></span>GmbH: <span class=\"_ _0\"></span>Euro <span class=\"_ _0\"></span>18<span class=\"_ _0\"></span>,8 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>relativi <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>Tranche <span class=\"_ _0\"></span>B <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>linea <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>credito <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span> </span></span>scadenza nel terzo trimestr<span class=\"_ _0\"></span>e 2024 e <span class=\"_ _0\"></span>periodo di run off a <span class=\"_ _0\"></span>partire dal <span class=\"_ _0\"></span>terzo <span class=\"_ _0\"></span>trimestre 2022. <span class=\"_ _0\"></span>La linea di credito di base di KME Mansfeld GmbH beneficia del seguente pacchetto di garanzie: i) un'ipoteca su <span class=\"_ _2b\"></span>parte delle <span class=\"_ _2b\"></span>attrezzature <span class=\"_ _2b\"></span>e dei <span class=\"_ _2b\"></span>macchinari <span class=\"_ _2b\"></span>dello stabilimento <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Hettstedt di <span class=\"_ _2b\"></span>KME <span class=\"_ _2b\"></span>Mansfeld GmbH, ii) un pegno su alcuni contratti di assicur<span class=\"_ _0\"></span>azione; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">CULTI Mila<span class=\"_ _0\"></span>no <span class=\"_ _0\"></span>SpA: <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>5,2 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>con <span class=\"_ _22\"></span>durata <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>circa <span class=\"_ _0\"></span>3 <span class=\"_ _0\"></span>anni<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>(scadenza <span class=\"_ _22\"></span>30 <span class=\"_ _0\"></span>novembre <span class=\"_ _0\"></span>2025), <span class=\"_ _22\"></span>di </span></span>cui <span class=\"_ _23\"></span>8 <span class=\"_ _23\"></span>mesi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>preammortamento, <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>rate <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>rimborso <span class=\"_ _28\"></span>trimestrale, <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>variabile <span class=\"_ _28\"></span>Euribor <span class=\"_ _23\"></span>3 <span class=\"_ _23\"></span>mesi +2,25%<span class=\"lsb\">. <span class=\"_ _2d\"> </span></span>Tale <span class=\"_ _2c\"></span>finanziament<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>risulta <span class=\"_ _2c\"></span>finalizzato <span class=\"_ _2d\"> </span><span class=\"ff5d\">all\u2019acquisto <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2c\"> </span>proprie <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>CULTI <span class=\"_ _2d\"> </span>Milano </span>S.p.A. e garantito tramite pegno sulle azioni<span class=\"_ _0\"></span> proprie acquisite dalla stessa.<span class=\"_ _0\"></span> Si <span class=\"_ _2c\"> </span>evidenzia <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"></span>tale <span class=\"_ _2c\"> </span>fina<span class=\"_ _0\"></span>nziamento <span class=\"_ _2c\"> </span>\u00e8 <span class=\"_ _2d\"> </span>assistito <span class=\"_ _2c\"></span>dal <span class=\"_ _2d\"> </span>rispetto <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>covenants <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziari, <span class=\"_ _2c\"> </span>definiti <span class=\"_ _2d\"> </span>con riferimento <span class=\"_ _2a\"> </span>al <span class=\"_ _2d\"> </span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>consolidato <span class=\"_ _2a\"> </span>alla <span class=\"_ _2d\"> </span>data <span class=\"_ _2a\"> </span>di <span class=\"_ _2a\"> </span>chiusura <span class=\"_ _2d\"> </span>di <span class=\"_ _2a\"> </span>ogni <span class=\"_\"> </span>esercizio <span class=\"_ _2d\"> </span>(con <span class=\"_\"> </span>decorrenza <span class=\"_ _2d\"> </span>31 dicembre 2023) Tali parametri risultano<span class=\"_ _0\"></span> tutti ampiamente rispettati anche al 31 dicembre 2022.<span class=\"_ _22\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>SpA: <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>2,5 <span class=\"_ _22\"></span>milioni <span class=\"_ _23\"></span>con <span class=\"_ _22\"></span>durata <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>6 <span class=\"_ _23\"></span>anni <span class=\"_ _22\"></span>(scadenza <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>marzo <span class=\"_ _23\"></span>2026), <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>due<span class=\"_ _0\"></span> </span></span>anni di <span class=\"_ _2b\"></span>preammortam<span class=\"_ _0\"></span>ento, con <span class=\"_ _29\"></span>rate <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>rimborso trimestrale. <span class=\"_ _29\"></span>Tasso variabile <span class=\"_ _2b\"></span>Eu<span class=\"_ _0\"></span>ribor 3 <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>+<span class=\"_ _0\"></span> spread 1,15% <span class=\"_ _2a\"> </span>Tasso <span class=\"_ _2d\"> </span>variabile <span class=\"_ _2a\"> </span>Euribor <span class=\"_ _2d\"> </span>3 <span class=\"_\"> </span>mesi <span class=\"_ _2d\"> </span>+ <span class=\"_ _2d\"> </span>spread <span class=\"_\"> </span>1,15% <span class=\"_ _2d\"> </span>convertito <span class=\"_ _2a\"> </span>tramite <span class=\"_ _2d\"> </span>specifico <span class=\"_ _2a\"> </span>strumento derivato <span class=\"_ _29\"></span>IRS <span class=\"_ _2b\"></span>Swap <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>tasso<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>fisso dell\u20191,01%. <span class=\"_ _2b\"></span>\u00c8<span class=\"ff56\"> ass<span class=\"_ _29\"></span>istito <span class=\"_ _29\"></span>dal <span class=\"_ _2b\"></span>rispetto <span class=\"_ _29\"></span>dei <span class=\"_ _2b\"></span>covenant<span class=\"_ _0\"></span>s <span class=\"_ _2b\"></span>finanziari, definiti </span>con riferimento al bilancio annuale <span class=\"_ _0\"></span>di CULTI Milano alla data d<span class=\"_ _0\"></span>i chiusura di ogni esercizio Il finanziamento \u00e8 garantito all\u201980% del proprio valore (Euro 2 milioni) dal Mediocredito Centrale.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>I <span class=\"_ _23\"></span>\u201c<span class=\"ff5a\">Debiti<span class=\"ff56\"> <span class=\"_ _28\"></span>v</span>erso <span class=\"_ _23\"></span>istitu<span class=\"_ _0\"></span>ti <span class=\"_ _23\"></span><span class=\"ff5e\">di <span class=\"_ _28\"></span>credito\u201d<span class=\"ff56\"> <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _23\"></span>2021 <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riferivano <span class=\"_ _28\"></span><span class=\"ls3\">ad<span class=\"_ _0\"></span></span> <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>linea <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>Euro </span></span></span>25.000 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>relativi <span class=\"_ _22\"></span>interessi, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>essere <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>Banco <span class=\"_ _22\"></span>BPM <span class=\"_ _22\"></span>Sp<span class=\"_ _0\"></span>A, <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>scadenza <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>giugno <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>garantita per <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>importo <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>corrente <span class=\"_ _23\"></span>oggetto <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>pegno.<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>Tale <span class=\"_ _22\"></span>linea <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>credito <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>stata <span class=\"_ _23\"></span>rimodulata <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>giugno <span class=\"_ _23\"></span>2022 prevedendo l\u2019ammontare finanziato di 20 milioni<span class=\"_ _0\"></span> di Euro sopra menzionato. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Al 31 dicembre 2022 la voce, nella parte corrente p<span class=\"_ _0\"></span>ari a 80,1 milioni, accoglie:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">per Euro<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>2,6 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>quota <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>breve <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>finanziamenti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>lungo <span class=\"_ _22\"></span>in essere <span class=\"_ _22\"></span>nel <span class=\"_ _0\"></span>gruppo <span class=\"_ _0\"></span>CULTI <span class=\"_ _22\"></span>(Euro </span></span>1,6 <span class=\"_ _22\"></span>milioni <span class=\"_ _22\"></span>afferenti <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>CULTI, <span class=\"_ _22\"></span>Euro <span class=\"_ _22\"></span>0,7 <span class=\"_ _22\"></span>milioni <span class=\"_ _22\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _0\"></span>Bakel <span class=\"_ _23\"></span>Srl <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>0,<span class=\"_ _0\"></span>3 <span class=\"_ _22\"></span>milioni <span class=\"_ _22\"></span>relative <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>Scent Company); \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">per Euro 20,0 milioni al finanziamento <span class=\"_ _0\"></span>stipulato dalla Capogruppo a <span class=\"_ _0\"></span>giugno 2022, avente <span class=\"_ _0\"></span>scadenza </span></span>dicembre 2023 in essere con Banco <span class=\"_ _0\"></span>BPM SpA. \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">per Euro 57,5 milioni ai finanziamenti in capo a KME SE<span class=\"_ _0\"></span>. </span></span>Al 31 dicembre 2022 la voce, nella parte non<span class=\"_ _0\"></span> corrente pari ad Euro 138,6 milioni, accoglie:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">per Euro 8,2 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>l\u2019ammontare dei <span class=\"_ _0\"></span>finanziamenti <span class=\"_ _0\"></span>a lung<span class=\"_ _0\"></span>o in <span class=\"_ _0\"></span>essere nel <span class=\"_ _22\"></span><span class=\"ff56\">gruppo <span class=\"_ _0\"></span>CULTI (Eu<span class=\"_ _0\"></span>ro 5,<span class=\"_ _0\"></span>6 </span></span></span>milioni <span class=\"_ _2c\"></span>afferenti <span class=\"_ _2d\"> </span>a <span class=\"_ _28\"></span>CULTI, <span class=\"_ _2d\"> </span>Euro <span class=\"_ _28\"></span>1,9 <span class=\"_ _2c\"> </span>milion<span class=\"_ _0\"></span>i <span class=\"_ _2c\"></span>relative <span class=\"_ _2c\"> </span>a <span class=\"_ _2d\"> </span>Bakel <span class=\"_ _28\"></span>Srl <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>0,7 <span class=\"_ _2c\"></span>milioni <span class=\"_ _2c\"> </span>relative <span class=\"_ _2d\"> </span>a <span class=\"_ _28\"></span>Scent<span class=\"_ _0\"></span> Company); \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">per Euro 130,4 milioni finanziamenti facenti capo al gruppo KME SE.<span class=\"_ _0\"></span> </span></span>Gli \u201c<span class=\"ff5e\">Strumenti finanziari derivati\u201d<span class=\"ff56\"> sono afferenti al <span class=\"_ _0\"></span>gruppo KME SE. </span></span>La <span class=\"_ _29\"></span>voce <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Debiti <span class=\"_ _29\"></span>per <span class=\"_ _29\"></span>titoli <span class=\"_ _29\"></span>obbligazionari <span class=\"_ _29\"></span>emessi<span class=\"ff5d ls3\">\u201d </span><span class=\"ff56\">al <span class=\"_ _2b\"></span>31 dicembre <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>22 acc<span class=\"_ _29\"></span>oglie <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>valore <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>cedole <span class=\"_ _29\"></span>sui </span></span>prestiti obbligazionari in essere, quo<span class=\"_ _0\"></span>tati al MOT, in corso di maturazion<span class=\"_ _0\"></span>e: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _29\"></span>3,6 mili<span class=\"_ _29\"></span>oni sul <span class=\"_ _2b\"></span>Prestito Obbligazionario KME <span class=\"_ _29\"></span>Group S<span class=\"_ _29\"></span>pA 2020/2025 <span class=\"_ _29\"></span>(IT0005394884), <span class=\"_ _29\"></span>avente </span></span>tasso fisso pari al 4,5% (Euro 3,6 milioni al 3<span class=\"_ _0\"></span>1 dicembre 2021); \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _2b\"></span>0,9 <span class=\"_ _2b\"></span>milioni <span class=\"_ _2b\"></span>sul <span class=\"_ _2b\"></span>Prestito <span class=\"_ _2b\"></span>Obbligazionario <span class=\"_ _29\"></span>KME <span class=\"_ _2b\"></span>Group <span class=\"_ _2b\"></span>SpA <span class=\"_ _2b\"></span>2022/<span class=\"_ _0\"></span>2027 <span class=\"_ _2b\"></span>(IT0005503393), <span class=\"_ _2b\"></span>emesso<span class=\"_ _0\"></span> </span></span>il 23 settembre u.s. avente tasso fisso par<span class=\"_ _0\"></span>i al 5%.  <span class=\"ff5d\">I \u201c<span class=\"ff5a\">Debiti <span class=\"_ _29\"></span>per factoring<span class=\"ff5d\">\u201d sono relativi <span class=\"_ _2b\"></span>all\u2019operativ<span class=\"_ _0\"></span>it\u00e0 del <span class=\"_ _29\"></span>gruppo KME <span class=\"_ _29\"></span>SE<span class=\"ff56\"> relative alle <span class=\"_ _29\"></span>linee di <span class=\"_ _29\"></span>credito in </span></span></span></span>essere recentemente prorogate: unitamente al <span class=\"_ _29\"></span>rinnovo del finanziamento in <span class=\"ff5a\">pool</span>, sono state <span class=\"_ _29\"></span>rinnovate anche le<span class=\"_ _29\"></span> linee <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>factoring <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>Factofrance, <span class=\"_ _2b\"></span>per <span class=\"ff5d\">Euro <span class=\"_ _2b\"></span>150 <span class=\"_ _2b\"></span>milioni, <span class=\"_ _2b\"></span>fino <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>30 <span class=\"_ _2b\"></span>novembre <span class=\"_ _29\"></span>2023 <span class=\"_ _2b\"></span>(con <span class=\"_ _2b\"></span>un\u2019estensione </span>automatica di <span class=\"_ _2b\"></span>un anno <span class=\"_ _29\"></span>nel c<span class=\"_ _29\"></span>aso <span class=\"_ _29\"></span>allungamento della <span class=\"_ _29\"></span>scadenza <span class=\"_ _2b\"></span>del finanziamento in <span class=\"_ _2b\"></span>pool<span class=\"_ _0\"></span>), <span class=\"_ _29\"></span>e con <span class=\"_ _2b\"></span>Intesa Sanpaolo SpA, per <span class=\"_ _0\"></span>Euro 126,5 <span class=\"_ _0\"></span>milioni, fino <span class=\"_ _0\"></span>al 30 <span class=\"_ _0\"></span>settembre 2024. <span class=\"_ _0\"></span>Entrambe le <span class=\"_ _0\"></span>linee hanno <span class=\"_ _0\"></span>un\u2019op<span class=\"_ _22\"></span>zione per l\u2019estensione di <span class=\"_ _28\"></span>ulteriori <span class=\"_ _2c\"></span>due <span class=\"_ _28\"></span>anni, <span class=\"_ _2c\"></span>subordinata <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>consenso <span class=\"_ _2c\"></span>del <span class=\"_ _28\"></span>factor<span class=\"_ _0\"></span>. <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"></span>Mansfeld <span class=\"_ _28\"></span>GmbH <span class=\"_ _2c\"></span>ha <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>essere <span class=\"_ _2c\"></span>una <span class=\"_ _28\"></span>lin<span class=\"_ _0\"></span>ea <span class=\"_ _28\"></span>di factoring <span class=\"_ _28\"></span>pro <span class=\"_ _28\"></span>soluto <span class=\"_ _2c\"></span>con <span class=\"_ _28\"></span>TARGO <span class=\"_ _28\"></span>Commercial <span class=\"_ _28\"></span>Fin<span class=\"_ _0\"></span>ance <span class=\"_ _28\"></span>AG <span class=\"_ _28\"></span>(una <span class=\"_ _28\"></span>con<span class=\"_ _0\"></span>sociata <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>Factofrance), <span class=\"_ _2c\"></span>con <span class=\"_ _28\"></span>scadenza febbraio <span class=\"_ _23\"></span>2023, <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>importo <span class=\"_ _23\"></span>totale <span class=\"_ _23\"></span>fino <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>150 <span class=\"_ _23\"></span>milioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>euro <span class=\"_ _22\"></span>con <span class=\"_ _23\"></span>un'opzione <span class=\"_ _23\"></span>incorporata <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>ulteriore anno <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>estensione. <span class=\"_ _22\"></span>Il <span class=\"_ _22\"></span>25 <span class=\"_ _22\"></span>novembre <span class=\"_ _22\"></span>2022, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>linea <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>credito <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _22\"></span>prorogata <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>10<span class=\"_ _0\"></span>0 <span class=\"_ _22\"></span>milioni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>euro <span class=\"_ _22\"></span>fino <span class=\"_ _22\"></span>al gennaio 2025 e pu\u00f2 essere utilizzata, se necessario<span class=\"_ _0\"></span>, anche da KME Ge<span class=\"_ _0\"></span>rmany. Le <span class=\"_ _2c\"></span>linee <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>Factofrance <span class=\"_ _2c\"></span>e <span class=\"_ _2d\"> </span>Targo <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span>corporano <span class=\"_ _2c\"></span>opzioni <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>consentono, <span class=\"_ _2c\"></span>se <span class=\"_ _2c\"></span>necessario, <span class=\"_ _2d\"> </span>di bilanciare il committment tra una linea di credito<span class=\"_ _0\"></span> e l\u2019altra.<span class=\"ff56\"> </span>Le passivit\u00e0 <span class=\"_ _0\"></span>derivanti <span class=\"_ _0\"></span>dal factoring <span class=\"_ _0\"></span>pro <span class=\"_ _0\"></span>solvendo nei <span class=\"_ _0\"></span>confronti <span class=\"_ _0\"></span>della societ\u00e0 <span class=\"_ _0\"></span>di fact<span class=\"_ _0\"></span>orin<span class=\"_ _0\"></span>g <span class=\"_ _0\"></span>ammontano <span class=\"_ _0\"></span>a<span class=\"ls1\">d </span>Euro 335 migliaia. I finanziamen<span class=\"_ _0\"></span>ti sopra <span class=\"_ _0\"></span>menzionati <span class=\"_ _0\"></span>contengono <span class=\"_ _0\"></span>financial <span class=\"_ _0\"></span>covenants <span class=\"_ _0\"></span>simili, soggetti <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>verifica trimestrale, ad <span class=\"_ _2c\"> </span>eccezione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>prestito <span class=\"_ _28\"></span>obblig<span class=\"_ _0\"></span>azionario, <span class=\"_ _2c\"> </span>che <span class=\"_ _28\"> </span>\u00e8 <span class=\"_ _2c\"> </span>soggetto <span class=\"_ _2c\"> </span>ad <span class=\"_ _2c\"> </span>un <span class=\"_ _2c\"> </span>\u201cat <span class=\"_ _2c\"> </span>incurrence <span class=\"_ _2c\"> </span>covenant <span class=\"_ _2c\"> </span>test\u201d <span class=\"_ _2c\"> </span>secondo <span class=\"_ _2c\"> </span>gli standard <span class=\"_\"> </span>dei <span class=\"_\"> </span>bo<span class=\"_ _0\"></span>nd <span class=\"_\"> </span>ad <span class=\"_\"> </span>alto <span class=\"_\"> </span>rend<span class=\"_ _0\"></span>imento. <span class=\"_\"> </span>Il <span class=\"_ _8b\"> </span>Gruppo <span class=\"_\"> </span>ha <span class=\"_ _8b\"> </span>rispettato <span class=\"_ _8b\"> </span>questi <span class=\"_ _8b\"> </span>covenant <span class=\"_\"> </span>per <span class=\"_ _8b\"> </span>tutto <span class=\"_ _8b\"> </span><span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> <span class=\"_\"> </span>di riferimento. Le <span class=\"_ _2b\"></span>voci <span class=\"_ _2b\"></span><span class=\"ff5e\">\u201cDebiti <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>leasin<span class=\"_ _0\"></span>g <span class=\"_ _2b\"></span>\u2013<span class=\"ff5a\"> <span class=\"_ _2b\"></span><span class=\"ff5e\">parti <span class=\"_ _2b\"></span>correlate\u201d <span class=\"_ _29\"></span><span class=\"ff56\">al <span class=\"_ _2b\"></span>31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>2021 <span class=\"_ _2b\"></span>rappresentano <span class=\"_ _2b\"></span>le <span class=\"_ _2b\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _2b\"></span>finanziarie </span></span></span></span>iscritte <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>l\u2019applicazione <span class=\"_ _28\"></span>dell\u2019IFRS <span class=\"_ _28\"></span>16 <span class=\"_ _28\"> </span>e <span class=\"_ _28\"> </span>si <span class=\"_ _28\"> </span>riferisco<span class=\"_ _0\"></span>no <span class=\"_ _28\"></span>ai <span class=\"_ _28\"></span>debiti <span class=\"_ _28\"></span>verso <span class=\"_ _28\"></span>Immob<span class=\"_ _0\"></span><span class=\"ff56\">iliare <span class=\"_ _28\"></span>Pictea <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>locazioni </span>passive <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>immobili <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>Milano, <span class=\"_ _22\"></span>Foro <span class=\"_ _22\"></span>Buonaparte; <span class=\"_ _22\"></span>tali <span class=\"_ _22\"></span>poste, <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>azzerate <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>quanto elise nell\u2019ambito del consolidamento linea per linea.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Gli <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Altri <span class=\"_ _2b\"></span>debiti finanziari<span class=\"ff5d ls3\">\u201d <span class=\"_ _2b\"></span><span class=\"ff56 ls0\">accologono le <span class=\"_ _2b\"></span>passivit\u00e0 per <span class=\"_ _2b\"></span>Euro 9<span class=\"_ _29\"></span>0 <span class=\"_ _29\"></span>milioni <span class=\"_ _2b\"></span>originate dall'operazione <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Sale </span></span></span>&amp; <span class=\"_ _29\"></span>Lease-back, realizzata <span class=\"_ _2b\"></span>nel dicembre <span class=\"_ _2b\"></span>2022<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>sulle <span class=\"_ _29\"></span>propriet\u00e0 <span class=\"_ _29\"></span>di Osnabr\u00fcck. <span class=\"_ _29\"></span>Nello <span class=\"_ _29\"></span>specifico, <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>data <span class=\"_ _2b\"></span>29<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>dicembre 2022, a <span class=\"_ _2b\"></span>seguito del <span class=\"_ _2b\"></span>completamento delle <span class=\"_ _2b\"></span>condizion<span class=\"_ _0\"></span>i <span class=\"_ _29\"></span>sospensive <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>eviste <span class=\"_ _29\"></span>dall\u2019accordo, le <span class=\"_ _2b\"></span>controllate <span class=\"_ _29\"></span>KM<span class=\"ff56\">E Real </span>Estate GmbH <span class=\"_ _29\"></span>&amp; Co. <span class=\"_ _29\"></span>KG, in <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>alit\u00e0 di <span class=\"_ _29\"></span>cedente <span class=\"_ _29\"></span>(\u201cKME RE\u201d), <span class=\"_ _29\"></span>e KME <span class=\"_ _29\"></span>Germany GmbH, <span class=\"_ _29\"></span>in qualit\u00e0 <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> conduttore (\u201cKME <span class=\"_ _0\"></span>Ger<span class=\"_ _0\"></span>many\u201d), <span class=\"_ _22\"></span>hanno <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>alizzato <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>contratto <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sale <span class=\"_ _0\"></span>and <span class=\"_ _22\"></span>leaseback <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>Crescendo <span class=\"_ _0\"></span>Real <span class=\"_ _22\"></span>Estate <span class=\"_ _22\"></span>Advisors LLP (\u201cCrescendo\u201d), <span class=\"_ _29\"></span>principal <span class=\"_ _29\"></span>investing and <span class=\"_ _29\"></span>advisory group <span class=\"_ _2b\"></span>inglese. La conclusione <span class=\"_ _2b\"></span>dell\u2019op<span class=\"_ _0\"></span>erazione ha <span class=\"_ _2b\"></span>vist<span class=\"_ _0\"></span>o il trasferimento <span class=\"_\"> </span>da <span class=\"_ _2a\"> </span>KME <span class=\"_ _2a\"> </span>RE <span class=\"_\"> </span>a <span class=\"_ _2d\"> </span>Crescen<span class=\"_ _0\"></span>do <span class=\"_\"> </span>della <span class=\"_ _2a\"> </span>propriet\u00e0 <span class=\"_ _2a\"> </span>dell\u2019intero <span class=\"_\"> </span>perimetro <span class=\"_ _2a\"> </span>immobiliare <span class=\"_ _2a\"> </span>di <span class=\"_ _2a\"> </span>Osnabr\u00fcck (\u201cPropriet\u00e0\u201d), <span class=\"_ _2f\"> </span>che <span class=\"_ _2f\"> </span>presenta <span class=\"_ _2f\"> </span>un<span class=\"_ _0\"></span>\u2019estensione <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>oltre <span class=\"_ _2f\"> </span>570.000 <span class=\"_ _41\"> </span>metri <span class=\"_ _2f\"> </span>quadrati, <span class=\"_ _2f\"> </span>occupati <span class=\"_ _2f\"> </span>dallo <span class=\"_ _3c\"> </span><span class=\"ff56\">stabilimento </span>industriale e <span class=\"_ _2b\"></span>dagli uffici e <span class=\"_ _2b\"></span>la contestuale conclusione <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>contratto di <span class=\"_ _2b\"></span>locazione dell\u2019intera <span class=\"_ _29\"></span>Propriet\u00e0 da <span class=\"_ _2b\"></span>parte di KME <span class=\"_ _23\"></span>Germany <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>un <span class=\"_ _28\"></span>periodo <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>30 <span class=\"_ _23\"></span>anni <span class=\"_ _23\"></span>oltre <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>possibile <span class=\"_ _28\"></span>estensione <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>10 <span class=\"_ _23\"></span>anni <span class=\"_ _23\"></span>(esercit<span class=\"_ _0\"></span>abile <span class=\"_ _23\"></span>due <span class=\"_ _28\"></span>volte, 30+10+10). <span class=\"_ _23\"></span>Nell\u2019ambi<span class=\"ff56\">to <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>contratto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>locazione <span class=\"_ _23\"></span>(nella <span class=\"_ _23\"></span>forma <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">triple <span class=\"_ _23\"></span>net <span class=\"_ _23\"></span>agreement</span>) <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Germany <span class=\"_ _23\"></span>\u00e8 </span>l\u2019unico <span class=\"_ _2c\"> </span>gestore <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span>sito, <span class=\"_ _2d\"> </span>e<span class=\"_ _29\"></span> <span class=\"_ _2c\"> </span>continuer\u00e0 <span class=\"_ _2d\"> </span>a <span class=\"_ _2c\"> </span>gestire <span class=\"_ _2c\"> </span>l\u2019intero <span class=\"_ _2d\"> </span>stabilimento <span class=\"_ _2c\"> </span>industriale <span class=\"_ _2c\"> </span>oltre <span class=\"_ _2d\"> </span>agli <span class=\"_ _2c\"> </span>uffici. <span class=\"_ _2d\"> </span>Il <span class=\"_ _28\"> </span>canone<span class=\"_ _0\"></span> annuale concordato tra le parti ammonta ad Euro <span class=\"_ _0\"></span>7,08 milioni oltre IVA ed \u00e8 sogg<span class=\"_ _0\"></span>etto a rivalutazione annuale in <span class=\"_ _28\"></span>base <span class=\"_ _2c\"> </span>all\u2019indice <span class=\"_ _28\"> </span>CPI <span class=\"_ _2c\"> </span>(indice <span class=\"_ _2c\"> </span>tedesco <span class=\"_ _28\"> </span>ut<span class=\"_ _0\"></span>ilizzato <span class=\"_ _28\"></span>per <span class=\"_ _2c\"> </span>i <span class=\"_ _28\"> </span>contratti <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>locazione). <span class=\"_ _28\"> </span>KME <span class=\"_ _2c\"> </span>Germany <span class=\"_ _2c\"> </span>continuer\u00e0 <span class=\"_ _28\"> </span>a<span class=\"_ _0\"></span> concedere <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>affitto <span class=\"_ _22\"></span>agli <span class=\"_ _0\"></span>attuali <span class=\"_ _22\"></span>sub <span class=\"_ _0\"></span>conduttori <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>rispettive <span class=\"_ _0\"></span>aree <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>Propriet\u00e0, <span class=\"_ _0\"></span>gi\u00e0 <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>loro <span class=\"_ _0\"></span>attual<span class=\"_ _22\"></span>mente <span class=\"_ _0\"></span>locate, per un ricavo totale di circa Euro 2,5 milioni o<span class=\"_ _0\"></span>ltre IVA.  L\u2019esecuzione <span class=\"_ _2c\"> </span>dell\u2019operazione <span class=\"_ _2c\"> </span>ha <span class=\"_ _2c\"> </span>permesso <span class=\"_ _2c\"> </span>l\u2019in<span class=\"_ _0\"></span>casso <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>Euro <span class=\"_ _2c\"> </span>90 <span class=\"_ _2c\"> </span>milioni <span class=\"_ _2c\"> </span>interamente <span class=\"_ _2c\"> </span>utiliz<span class=\"_ _0\"></span>zati <span class=\"_ _2c\"> </span>per <span class=\"_ _2c\"> </span>il parziale <span class=\"_ _2b\"></span>rimborso <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>finanziamento <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>Goldman <span class=\"_ _2b\"></span>Sachs <span class=\"_ _2b\"></span>Bank <span class=\"_ _2b\"></span>USA, <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>complessivi <span class=\"_ _2b\"></span>Euro <span class=\"_ _2b\"></span>110 <span class=\"_ _2b\"></span>milioni,<span class=\"_ _0\"></span> utilizzato l\u20198 dicembre 2022 da parte della subholding KME SE p<span class=\"_ _0\"></span>er il rimborso anticipato del proprio prestito obbligazionario senior garantito <span class=\"_ _0\"></span>scadente nel 2023.  L\u2019operazione <span class=\"_ _2d\"> </span>ha <span class=\"_ _2d\"> </span>contribuito <span class=\"_ _2d\"> </span>significativamente <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span>progressivo <span class=\"_ _2d\"> </span>deleverag<span class=\"_ _0\"></span>ing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>gruppo <span class=\"_ _2d\"> </span>KME <span class=\"_ _2c\"></span>SE<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span><span class=\"ls6\">e </span></span>quindi del Gruppo<span class=\"ff5d\">, nell\u2019ambito<span class=\"_ _0\"></span> del percorso di ulteriore sviluppo del proprio <span class=\"_ _0\"></span><span class=\"ff5a\">core busin<span class=\"_ _0\"></span>ess</span></span>. Indebitamento finanziario L\u2019ammontare <span class=\"_ _23\"></span>dell\u2019indeb<span class=\"_ _0\"></span>itamento <span class=\"_ _23\"></span>finanziario <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>dettaglio <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>sue <span class=\"_ _23\"></span>principali <span class=\"_ _28\"></span>componenti <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>sensi della <span class=\"_ _2b\"></span>Comunicazione Consob <span class=\"_ _2b\"></span>n. <span class=\"_ _2b\"></span>6064293, <span class=\"_ _29\"></span>del <span class=\"_ _2b\"></span>Richiamo <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>attenzione <span class=\"_ _29\"></span>Consob <span class=\"_ _2b\"></span>n. <span class=\"_ _2b\"></span>5/<span class=\"_ _0\"></span>21 <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>29 <span class=\"_ _2b\"></span>aprile <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>degli Orientamenti <span class=\"_ _0\"></span>ESMA <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>materia di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>obblighi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>info<span class=\"_ _0\"></span>rmativa ai <span class=\"_ _22\"></span>sensi <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>regolamento <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>prospetto <span class=\"_ _0\"></span>informativo (ESMA 32-382-113<span class=\"ff5d\">8) \u00e8 indicata nella \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Relazione sull<span class=\"ff5e\">\u2019and<span class=\"_ _0\"></span>amento della </span>gestione</span>\u201d. </span> Al 31 dicembre 2022 non sussistono debiti e passivit\u00e0 fin<span class=\"_ _0\"></span>anziarie verso parti correlate.<span class=\"_ _0\"></span> 4.16.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Titoli obbligazionari (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Obbligazioni KME Group S.p.A. 2020/<span class=\"lsf\">2025</span> 92.506  92.372  134  Obbligazioni KME Group S.p.A. 2022/<span class=\"lsf\">2027</span> 63.485   -<span class=\"lsd\">  </span> 63.485  Titoli obbligazionari 155.991  92.372  63.619  La voce si riferisce alle: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Obbligazioni <span class=\"_ _23\"></span>KME <span class=\"_ _28\"></span>Group <span class=\"_ _23\"></span>2020<span class=\"_ _0\"></span>/2025, <span class=\"_ _23\"></span>emesse <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>f<span class=\"_ _0\"></span>ebbraio <span class=\"_ _28\"></span>2020 <span class=\"_ _23\"></span>con <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>tasso <span class=\"_ _28\"></span>fisso <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>4,5%, <span class=\"_ _28\"></span>in </span></span>circolazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>nominali <span class=\"_ _22\"></span>Euro <span class=\"_ _22\"></span>75.854 <span class=\"_ _0\"></span>migliaia <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>aggiunte <span class=\"_ _22\"></span>nel <span class=\"_ _0\"></span>corso<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _0\"></span>ulteriori<span class=\"_ _0\"></span> nominali Euro <span class=\"_ _2b\"></span>16<span class=\"_ _0\"></span>.965 migliaia <span class=\"_ _2b\"></span>emessi in conseguenza <span class=\"_ _2b\"></span>della offerta pubblica <span class=\"_ _29\"></span>di sca<span class=\"_ _29\"></span>mbio sulle <span class=\"_ _2b\"></span>azioni di risparmio. Le obbligazioni in circolazione son<span class=\"_ _0\"></span>o pertanto <span class=\"_ _0\"></span>pari a Euro 92.819 migliaia; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Obbligazioni <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Grou<span class=\"_ _0\"></span>p <span class=\"_ _23\"></span>2022/2027, <span class=\"_ _23\"></span>emesse <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>settembre <span class=\"_ _23\"></span>2022 <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>fisso <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>5,0% <span class=\"_ _23\"></span>in </span></span>circolazione <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>nominali <span class=\"_ _0\"></span>Euro <span class=\"_ _22\"></span>63.533 <span class=\"_ _0\"></span>migliaia <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>conseguenza <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>of<span class=\"_ _0\"></span>ferte <span class=\"_ _0\"></span>pubbliche <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>scambio su azioni ordinarie, azioni di rispar<span class=\"_ _0\"></span>mio e <span class=\"ff5a\">warrant</span><span class=\"lsb\">. </span> Tutte <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>obbligazioni <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>esposte <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _22\"></span>dei <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>emissione <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>vengono <span class=\"_ _0\"></span>differiti <span class=\"_ _22\"></span>lungo <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>durata del titolo in misura tale da determinare un <span class=\"_ _0\"></span>tasso di interesse effettivo costante.<span class=\"_ _0\"></span> 4.17.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altre passivit\u00e0 non correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Debiti per <span class=\"ff5a\">\"special situations\"</span>  -<span class=\"lsd\">  </span> 95  (95) Altri debiti 482  18  464  Altre passivit\u00e0 non correnti 482  113  369  Nell\u2019esercizio <span class=\"_ _2d\"> </span>si <span class=\"_ _28\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _2c\"> </span>completamente <span class=\"_ _2d\"> </span>azzerati <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>\u201cDebiti <span class=\"_ _2c\"> </span>per <span class=\"_ _2d\"> </span>special <span class=\"_ _2c\"> </span>situations\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2c\"></span>che <span class=\"_ _2d\"> </span>erano <span class=\"_ _2c\"></span>originati </span>nell\u2019ambito di assunzione di concordati e si riferivano<span class=\"_ _0\"></span> ad anticipi legati a posizioni ex <span class=\"_ _0\"></span>Fime Leasing. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>La voce al 31 dicembre <span class=\"ls1\">2022</span> \u00e8 relativa a posizioni<span class=\"_ _0\"></span> legate al settore rame. 4.18.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Fondi per rischi ed oneri (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione 3.543  291  3.252  Fondi per rischi ed oneri <span class=\"_ _29\"></span>non correnti 3.865   -<span class=\"lsd\">  </span> 3.865  Fondi per rischi ed oneri c<span class=\"_ _29\"></span>orrenti Fondi per rischi ed oneri 7.408  291  7.117  Di seguito si fornisce il prospetto riepilogativo<span class=\"_ _0\"></span> dei movimenti relativi <span class=\"_ _0\"></span>ai fondi rischi ed oneri: Fondi rischi Fondi Fondi rischi (in migliaia di Euro) Altri fondi Totale contenziosi fiscali ristrutturazione garanzie  Saldo 01/01/2022 291   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 291  Variazione area   -<span class=\"lsd\">  </span> 4.387  1.107  3.886  9.380  consolidamento IFRS 10 Utilizzi  -<span class=\"lsd\">  </span> (3.087)  -<span class=\"lsd\">  </span> (631) (3.718) Rilasci (291)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (9) (300) Stanziamenti  -<span class=\"lsd\">  </span> 10.441  43  1.562  12.046  Riclassificazioni a IFRS 5  -<span class=\"lsd\">  </span> (10.441)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.441) Saldo al 31 dicembre 2022  -<span class=\"lsd\">  </span> 1.300  1.150  4.958  7.408  Di cui quota non corrente  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 3.543  3.543  Di cui quota corrente  -<span class=\"lsd\">  </span> 1.300  1.150  1.415  3.865  I <span class=\"_ _23\"></span>\u201c<span class=\"ff5e\">Fondi <span class=\"_ _23\"></span>rischi <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>tenziosi <span class=\"_ _23\"></span>fiscali\u201d <span class=\"_ _28\"></span><span class=\"ff56\">erano <span class=\"_ _23\"></span>relativi <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>contenziosi <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>materia <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>imposta <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>registro <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>di </span></span>Invim del gruppo Fime, <span class=\"ff5d\">e son<span class=\"_ _0\"></span>o stati rilasciati nell\u2019esercizio</span><span class=\"lsb\">. </span> Gli <span class=\"_ _46\"> </span>altri <span class=\"_ _49\"> </span>accanton<span class=\"_ _0\"></span>amenti <span class=\"_ _46\"> </span>comprendono <span class=\"_ _46\"> </span>principalmente <span class=\"_ _49\"> </span>gli <span class=\"_ _46\"> </span>accantonamenti <span class=\"_ _46\"> </span>per <span class=\"_ _46\"> </span>le <span class=\"_ _49\"> </span>in<span class=\"_ _0\"></span>dennit\u00e0 <span class=\"_ _46\"> </span>di licenziamento <span class=\"_\"> </span>in <span class=\"_\"> </span>caso <span class=\"_ _2a\"> </span>di <span class=\"_ _2a\"> </span>cessazione <span class=\"_\"> </span>del <span class=\"_\"> </span>rapporto <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>lavoro <span class=\"_ _2a\"> </span>e/o <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>pensionamento <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>conformit\u00e0 <span class=\"_ _2a\"> </span>con <span class=\"_ _2a\"> </span>la legislazione <span class=\"_ _22\"></span>francese <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>richieste <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>garanzia <span class=\"_ _0\"></span>avanzate <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>clienti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _0\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>ambientale. <span class=\"_ _22\"></span>I <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span>ritti <span class=\"_ _22\"></span>di garanzia dei clienti sono esigibili entro un anno.<span class=\"_ _0\"></span> I <span class=\"_ _23\"></span>\u201c<span class=\"ff5a\">Fondi <span class=\"_ _28\"></span>ristrutturazione<span class=\"ff56\">\" <span class=\"_ _23\"></span>includono<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>come <span class=\"_ _23\"></span>accanton<span class=\"_ _0\"></span>amento <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>conseguenza <span class=\"_ _23\"></span>come <span class=\"_ _28\"></span>riclassificazione </span></span>nella <span class=\"_ _0\"></span>voce <span class=\"_ _22\"></span>\"risultato <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>dismissione\", <span class=\"_ _0\"></span>l'accant<span class=\"_ _0\"></span>onamento, <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>utilizzi <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>periodo <span class=\"_ _22\"></span>per<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>Eu<span class=\"_ _0\"></span>ro 4,9 <span class=\"_ _28\"></span>milioni, <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>la <span class=\"_ _23\"></span>chiu<span class=\"_ _0\"></span>sura <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>pr<span class=\"_ _0\"></span>oduzione <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>tubi <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>Givet <span class=\"_ _28\"></span>annuncia<span class=\"_ _0\"></span>ta <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>febbraio <span class=\"_ _28\"></span>2022 <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>Trefimetaux S.A.S.. Gli <span class=\"_ _28\"></span>\"<span class=\"ff5a\">Altri <span class=\"_ _2c\"></span>fondi</span>\" <span class=\"_ _2c\"></span>includono <span class=\"_ _28\"></span>come <span class=\"_ _2c\"></span>accantonamento <span class=\"_ _2c\"> </span>Euro <span class=\"_ _2c\"></span>1,6 <span class=\"_ _2c\"></span>milioni, <span class=\"_ _28\"></span>pr<span class=\"_ _0\"></span>incipalmente <span class=\"_ _28\"></span>legati <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> ambientale. Il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>attualmente <span class=\"_ _28\"></span>soggetto <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>controversie <span class=\"_ _28\"></span>legali <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>potrebbero <span class=\"_ _28\"></span>avere <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>effetto significativo <span class=\"_ _23\"></span>sul <span class=\"_ _22\"></span>patrimon<span class=\"_ _0\"></span>io <span class=\"_ _23\"></span>netto <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>sui <span class=\"_ _23\"></span>risultati <span class=\"_ _22\"></span>operativi <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo. <span class=\"_ _23\"></span>Nonostante <span class=\"_ _22\"></span>l'ampia <span class=\"_ _23\"></span>serie <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>misure <span class=\"_ _22\"></span>di conformit\u00e0, <span class=\"_ _28\"></span>tuttavia, <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>possibile <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>verifichino <span class=\"_ _28\"></span>violazioni <span class=\"_ _28\"></span>isolate <span class=\"_ _23\"></span>o <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>vi <span class=\"_ _28\"></span>siano <span class=\"_ _28\"></span>violazioni <span class=\"_ _28\"></span>storiche <span class=\"_ _28\"></span>non ancora individuate. Alla <span class=\"_ _41\"> </span>data <span class=\"_ _41\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _41\"> </span>approvazione <span class=\"_ _41\"> </span>del <span class=\"_ _3c\"> </span>presente <span class=\"_ _41\"> </span>bilancio <span class=\"_ _41\"> </span>consolidato<span class=\"_ _0\"></span> <span class=\"_ _41\"> </span>non <span class=\"_ _41\"> </span>esistono, <span class=\"_ _3c\"> </span>a <span class=\"_ _41\"> </span>conoscenza <span class=\"_ _41\"> </span>degli<span class=\"_ _0\"></span> Amministratori, altre passivit\u00e0 potenziali significative.<span class=\"_ _0\"></span> 4.19.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Debiti verso fornitori (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Debiti verso fornitori terzi 530.577  1.700  528.877  Debiti verso fornitori - entit\u00e0 del gr<span class=\"_ _29\"></span>uppo non consolidate 615  447  168  Debiti verso fornitori - entit\u00e0 a patrim<span class=\"_ _29\"></span>onio netto 9.423   -<span class=\"lsd\">  </span> 9.423  Debiti verso fornitori - altre pa<span class=\"_ _29\"></span>rti correlate 110  91  19  Debiti verso fornitori 540.725  2.238  538.487  . I debiti verso <span class=\"_ _0\"></span>le altre parti correlate <span class=\"_ _0\"></span>sono relativi <span class=\"_ _0\"></span>a debiti verso amministratori <span class=\"_ _0\"></span>e sindaci. Si ritiene <span class=\"_ _0\"></span>che il valore contabile dei debiti commerciali approssimi il <span class=\"_ _0\"></span>loro <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span>. Alla <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>bi<span class=\"_ _0\"></span>lancio, <span class=\"_ _28\"></span>Euro <span class=\"_ _2c\"></span>324.934 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>regis<span class=\"_ _0\"></span>trate <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>debiti <span class=\"_ _2c\"></span>verso fornitori <span class=\"_ _22\"></span>terzi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>supportate <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>lettere <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>credito; <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>lettere <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>credito <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>emesse <span class=\"_ _22\"></span>d<span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>linea <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>credito <span class=\"_ _22\"></span>in pool<span class=\"ff56 ls0\">. Questi debiti verso fornitori si riferiscono all'acquisto di metallo.<span class=\"_ _0\"></span> </span>Tutti i debiti hanno una durata massima <span class=\"_ _0\"></span>di un anno. 4.20.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altre passivit\u00e0 correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Debiti verso personale e dipe<span class=\"_ _29\"></span>ndenti 21.969  221  21.748  Debiti verso istituti pre<span class=\"_ _29\"></span>videnziali 4.051  91  3.960  Debiti tributari 19.831  126  19.705  Debiti verso amministratori <span class=\"_ _29\"></span>per Trattamento Fine Mandat<span class=\"_ _29\"></span>o 793  769  24  Debiti verso correlate 235  547  (312) Debiti verso clienti 60.426  60.426  Altri debiti 21.975  2.059  19.916  Altre passivit\u00e0 correnti 129.280  3.813  125.467  La voce <span class=\"ff5e\">\u201cDebiti verso dipendenti\u201d<span class=\"_ _0\"></span></span> si riferisce principalmente alle competenze maturate ma <span class=\"_ _0\"></span>non ancora liquidate. La <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _22\"></span><span class=\"ff5e\">\u201cDebiti <span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ri\u201d</span> <span class=\"_ _0\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>afferenti <span class=\"_ _22\"></span>principalmente <span class=\"_ _22\"></span>alle <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>facenti <span class=\"_ _22\"></span>parte <span class=\"_ _22\"></span>nel consolidato fiscale della Capogruppo.<span class=\"_ _0\"></span> I <span class=\"_ _2d\"> </span>\u201cDebiti <span class=\"_ _2d\"> </span>verso <span class=\"_ _2d\"> </span>amministratori <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>Trattamento <span class=\"_ _2d\"> </span>Fine <span class=\"_ _2d\"> </span>Mandato\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2d\"> </span>riferiti <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>residuo <span class=\"_ _2c\"> </span>debito <span class=\"_ _2d\"> </span>nei </span>confronti <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>Presidente <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>trattamento <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>fine <span class=\"_ _22\"></span>mandato <span class=\"_ _22\"></span>maturat<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2012<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 cessato <span class=\"_ _28\"></span>tale <span class=\"_ _23\"></span>istitu<span class=\"_ _0\"></span>to. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>Presidente <span class=\"_ _23\"></span>ha <span class=\"_ _28\"></span>concord<span class=\"_ _0\"></span>ato <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>prorogare <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _28\"></span>2023 <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>scadenza <span class=\"_ _23\"></span>de<span class=\"_ _0\"></span>l pagamento. Nei <span class=\"ff5e\">\u201cDebiti verso correlate\u201d </span>sono <span class=\"_ _0\"></span>compresi i debiti verso amministratori per i compensi <span class=\"_ _0\"></span>maturati. I <span class=\"_ _22\"></span>\u201c<span class=\"ff5a\">Debiti <span class=\"_ _22\"></span>verso <span class=\"_ _22\"></span>clienti<span class=\"_ _0\"></span></span>\u201d <span class=\"_ _22\"></span>comprendono <span class=\"_ _22\"></span>principalmente <span class=\"_ _23\"></span>i <span class=\"_ _0\"></span>pagamenti <span class=\"_ _22\"></span>anticip<span class=\"_ _0\"></span>ati <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span><span class=\"ff56\">clienti, <span class=\"_ _0\"></span>gl<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>accrediti <span class=\"_ _22\"></span>di </span>bonus <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>clienti <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>credito <span class=\"_ _23\"></span>dovuti <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>eccesso. <span class=\"_ _23\"></span>L'aumento <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>dovuto <span class=\"_ _23\"></span>principalmente <span class=\"_ _23\"></span>alla nuova <span class=\"_ _28\"></span>politica <span class=\"_ _23\"></span>d<span class=\"_ _0\"></span><span class=\"ls3\">el</span> <span class=\"_ _28\"></span>pagamento <span class=\"_ _28\"></span>anticipato, <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>clienti, <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>materia <span class=\"_ _28\"></span>prima, <span class=\"_ _28\"></span>imposta <span class=\"_ _28\"></span>quale condizione di vendita. Il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>applica l'espedi<span class=\"_ _0\"></span>ente <span class=\"_ _0\"></span>pratico <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>al paragrafo <span class=\"_ _0\"></span>12<span class=\"_ _0\"></span>1 dell'IFRS <span class=\"_ _0\"></span>15<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>fornisce <span class=\"_ _0\"></span>informazioni sulle obbligazioni residue che hanno una durata originaria prevista d<span class=\"_ _0\"></span>i un anno o meno.<span class=\"_ _0\"></span> L\u2019ammontare <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>voce <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>incrementato <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>secondo <span class=\"_ _0\"></span>sem<span class=\"_ _0\"></span><span class=\"ff56\">estre <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>Eu<span class=\"_ _0\"></span>ro <span class=\"_ _0\"></span>8.391 <span class=\"_ _22\"></span>migliaia <span class=\"_ _22\"></span>relativi </span>alla variazione dell'area di consolidamento Au<span class=\"_ _0\"></span>rubis. 4.21.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Imposte differite attive e passive (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Imposte differite attive 88.478  2.762  85.716  Imposte differite passive (117.752) (2.221) (115.531) Imposte differite attive (pass<span class=\"_ _29\"></span>ive) nette  (29.274) 541  (29.815) Di seguito si fornisce il dettaglio della fiscalit\u00e0 differit<span class=\"_ _0\"></span>a attiva e passiva suddivisa per voce di bilancio:<span class=\"_ _22\"></span> Imposte differite attive Imposte differite passive (in migliaia di Euro) 31 dic 2022 31 dic 2021 31 dic 2022 31 dic 2021 Differenze temporanee Immobili, impianti e macc<span class=\"_ _29\"></span>hinari 3.089   -<span class=\"lsd\">  </span> (84.146)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Investimenti immobiliari 5.209  9 <span class=\"ls0\"> </span>(2.970)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 immateriali 1.937   -<span class=\"lsd\">  </span> (19.514)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Partecipazioni 512   -<span class=\"lsd\">  </span> (529) (1.602) Altre attivit\u00e0 non correnti 14   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (57)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Rimanenze 602   -<span class=\"lsd\">  </span> (21.026)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Crediti commerciali 2.410  1.370  (687) (619) Attivit\u00e0 finanziarie correnti 1 <span class=\"ls0\"> </span>34  (1.838)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri crediti e attivit<span class=\"_ _29\"></span>\u00e0 correnti 186   -<span class=\"lsd\">  </span> (65)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (1)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.075)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 non correnti possedut<span class=\"_ _29\"></span>e per la vendita Benefici a dipendenti 1.210   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti 1.665   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Titoli obbligazionari  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 non correnti 37   -<span class=\"lsd\">  </span> (54)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Fondi per rischi ed oneri 1.548   -<span class=\"lsd\">  </span> (4.475)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti 1.448   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti verso fornitori  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (733)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 correnti 1.379  515  (167)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite su compone<span class=\"_ _29\"></span>nti di patrimonio netto  -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite su perdite fis<span class=\"_ _29\"></span>cali pregresse 87.854  704   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Totale 109.101  2.762  (138.337) (2.221) Rettifiche (20.623)  -<span class=\"lsd\">  </span> 20.585   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite attive (pass<span class=\"_ _29\"></span>ive)  88.478  2.762  (117.752) (2.221) 5.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Note esplicative al conto econo<span class=\"_ _0\"></span>mico consolidato </span></span>Ai <span class=\"_ _2b\"></span>sensi <span class=\"_ _29\"></span>della <span class=\"_ _2b\"></span>Comunicazione <span class=\"_ _29\"></span>Consob <span class=\"_ _2b\"></span>n. <span class=\"_ _2b\"></span>60<span class=\"_ _0\"></span>64293/06 <span class=\"_ _2b\"></span>si <span class=\"_ _29\"></span>precisa <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>il Gruppo <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>ha <span class=\"_ _29\"></span>effettuato <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>corso dell\u2019esercizio in esame \u201coperazioni atipiche e/o in<span class=\"_ _0\"></span>usuali\u201d.<span class=\"ff56\"> </span>Si <span class=\"_\"> </span>ricorda <span class=\"_\"> </span>che <span class=\"_\"> </span>la <span class=\"_\"> </span>Nuova <span class=\"_\"> </span>Strategia <span class=\"_\"> </span>ad<span class=\"_ _0\"></span>ottata <span class=\"_\"> </span>dalla <span class=\"_\"> </span>Capogruppo <span class=\"_\"> </span>a <span class=\"_\"> </span>decorrere<span class=\"_ _0\"></span> <span class=\"_ _8b\"> </span>dal <span class=\"_\"> </span>22 <span class=\"_\"> </span>april<span class=\"_ _0\"></span>e <span class=\"_\"> </span>2022 <span class=\"_\"> </span>ha comportato <span class=\"_ _28\"></span>la <span class=\"_ _23\"></span>perdita <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>qualifica <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>\u201centit\u00e0 <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>investimento\u201d <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>conseguent<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>amplia<span class=\"_ _0\"></span>mento <span class=\"_ _28\"></span>dell\u2019area <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> consolidamento <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>dal <span class=\"_ _28\"></span>30 <span class=\"_ _23\"></span>aprile <span class=\"_ _28\"></span>2022 <span class=\"_ _23\"></span>ricomprende <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>perimetro <span class=\"_ _28\"></span>anche <span class=\"_ _23\"></span>entit\u00e0 <span class=\"_ _28\"></span>controllate <span class=\"_ _28\"></span>che precedentemente si configuravano <span class=\"_ _0\"></span>come investimenti partecipativi (KME SE e <span class=\"_ _0\"></span>CULTI Milano). Stante <span class=\"_ _22\"></span>quanto <span class=\"_ _22\"></span>suddetto <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>evidenzia <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>saldi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>econo<span class=\"_ _0\"></span>mico <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>2022, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>includono <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di conto <span class=\"_ _23\"></span>economico <span class=\"_ _28\"></span>relativi <span class=\"_ _23\"></span>ai <span class=\"_ _28\"></span>mesi <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>maggio <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>giugno <span class=\"_ _23\"></span>2022 <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>societ\u00e0 <span class=\"_ _23\"></span>consoli<span class=\"_ _0\"></span>date <span class=\"_ _23\"></span>i<span class=\"_ _22\"></span>ntegralmente <span class=\"_ _23\"></span>(e <span class=\"_ _28\"></span>delle societ\u00e0 del relativo gruppo <span class=\"_ _29\"></span>di appartenza), diverse dalla <span class=\"_ _29\"></span>Capogruppo, non sono comparabili <span class=\"_ _29\"></span>con i relativi <span class=\"_ _29\"></span>saldi del 2021 che includevano nell\u2019area di con<span class=\"_ _0\"></span>solidamento esclusivamente la Capogruppo<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _23\"></span>risultato <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>fine <span class=\"_ _23\"></span>dicembre <span class=\"_ _23\"></span>2022 <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>influenzato <span class=\"_ _23\"></span>positivamente <span class=\"_ _23\"></span>da <span class=\"_ _28\"></span>Euro <span class=\"_ _23\"></span>46,5 <span class=\"_ _23\"></span>milioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>plusvalenza <span class=\"_ _23\"></span>da<span class=\"_ _0\"></span> negoziazione dall'acquisizion<span class=\"_ _0\"></span>e del perimetro ex Aurubis. 5.1.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Ricavi delle vendi<span class=\"_ _0\"></span>te e delle prestazioni di servizi<span class=\"_ _0\"></span> Il dettaglio della voce \u00e8 il seguente: (in migliaia di Euro) 2022 2021 157.494   - Italia 1.020.038   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Europa 73.071   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Asia 112.985   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>America 36.996   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri Paesi Ricavi delle vendite e pres<span class=\"_ _29\"></span>tazioni di servizi 1.400.584   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>I <span class=\"_ _23\"></span>ricavi <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>gruppo <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _22\"></span>conflu<span class=\"_ _0\"></span>iti <span class=\"_ _23\"></span>nei <span class=\"_ _22\"></span>saldi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>economico <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>presente <span class=\"_ _23\"></span>bilancio <span class=\"_ _23\"></span>consolidato semestrale sono pari a <span class=\"_ _29\"></span>Euro 1.384 migliaia e <span class=\"_ _2b\"></span>deriv<span class=\"_ _0\"></span>ano principalmente dalla vendita di <span class=\"_ _29\"></span>prodotti in rame <span class=\"_ _29\"></span>e leghe di rame. <span class=\"_ _2b\"></span>La ripartizione dei <span class=\"_ _29\"></span>ricavi <span class=\"_ _29\"></span>\u00e8 stata <span class=\"_ _2b\"></span>e<span class=\"_ _0\"></span>ffettuata in <span class=\"_ _2b\"></span>b<span class=\"_ _0\"></span>ase all'ubicazione <span class=\"_ _29\"></span>dei clienti. <span class=\"_ _29\"></span>La <span class=\"_ _29\"></span>parte residua <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>relativa a CULTI Milano. Nell'esercizio, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>realizzato <span class=\"_ _22\"></span>con <span class=\"_ _0\"></span>alcun <span class=\"_ _0\"></span>cliente <span class=\"_ _0\"></span>vendite <span class=\"_ _0\"></span>superiori <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>10% <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>vendite <span class=\"_ _22\"></span>del Gruppo. I ricavi totali sono stati <span class=\"_ _0\"></span>iscritti in funzione del trasferimento d<span class=\"_ _0\"></span>ei beni in un determinato momento.<span class=\"_ _0\"></span> 5.2.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Altri proventi (in migliaia di Euro) 2022 2021 Altri proventi 10.862  1.007  La <span class=\"_ _23\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _23\"></span>includ<span class=\"_ _0\"></span>e: <span class=\"_ _28\"></span>Euro <span class=\"_ _23\"></span>1,1 <span class=\"_ _28\"></span>milioni <span class=\"_ _28\"></span>relativi <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>riduzioni <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>costo <span class=\"_ _23\"></span>dell\u2019energia <span class=\"_ _28\"></span>elettrica <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>relative imposte, <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>1,0 <span class=\"_ _23\"></span>milioni <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>contributi <span class=\"_ _22\"></span>governativi, <span class=\"_ _23\"></span>Euro <span class=\"_ _23\"></span>0,4 <span class=\"_ _22\"></span>milioni <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>affitti <span class=\"_ _23\"></span>attivi, <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>0,3 <span class=\"_ _23\"></span>milioni <span class=\"_ _22\"></span>per<span class=\"_ _0\"></span> rimborsi assicurativi ed Euro 0,2 <span class=\"_ _0\"></span>milioni per ripristino di svalutazioni di crediti.<span class=\"_ _0\"></span> 5.3.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Costo del la<span class=\"_ _0\"></span>voro (in migliaia di Euro) 2022 2021 Salari e stipendi (99.139) (965) Oneri sociali (21.734) (321) Altri costi del personale (2.532) (581) Costo del lavoro (123.405) (1.867) La maggior parte delle spese per il <span class=\"_ _29\"></span>personale riguarda le retribuzioni, che comprendono salari, <span class=\"_ _29\"></span>stipendi, indennit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>tutti <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>compensi <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>lavoro <span class=\"_ _23\"></span>svolto <span class=\"_ _23\"></span>dai <span class=\"_ _23\"></span>dipendenti <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>nell'esercizio. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>contributi obbligatori <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>Societ\u00e0, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>particola<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>contributi <span class=\"_ _23\"></span>previdenziali, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>riportati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>voce <span class=\"_ _23\"></span>contributi previdenziali. Le <span class=\"_ _29\"></span>spese <span class=\"_ _29\"></span>per <span class=\"_ _29\"></span>le <span class=\"_ _29\"></span>prestazioni pensionistiche <span class=\"_ _2b\"></span>si riferiscono <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>personale <span class=\"_ _29\"></span>attivo <span class=\"_ _29\"></span>ed <span class=\"_ _29\"></span>ex <span class=\"_ _29\"></span>o <span class=\"_ _29\"></span>ai <span class=\"_ _29\"></span>loro <span class=\"_ _29\"></span>superstiti. <span class=\"_ _29\"></span>Tali spese <span class=\"_ _0\"></span>compre<span class=\"_ _0\"></span>ndono <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>pensionistici <span class=\"_ _22\"></span>periodici <span class=\"_ _0\"></span>netti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cont<span class=\"_ _0\"></span>ributi <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>datore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>lavoro <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>piani <span class=\"_ _22\"></span>pensionistici integrativi aziendali e i pagamenti delle prestazioni p<span class=\"_ _0\"></span>ensionistiche.  Qui di seguito si riporta il numero medio dei dip<span class=\"_ _0\"></span>endenti del Grup<span class=\"_ _0\"></span>po: 31/12/2022 31/12/2021 Variazione Totale addetti (medio) 1.865  13  1.677  5.4.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Altri costi operativi<span class=\"_ _0\"></span> (in migliaia di Euro) 2022 2021 Emolumenti amministratori e<span class=\"_ _29\"></span> sindaci (4.447) (1.228) Prestazioni professionali (17.538) (1.543) Trasporti (26.994) (375) Altri costi per il personale (3.940) (2) Pubblicit\u00e0 legale e societaria (1.163) (108) Elettricit\u00e0, riscaldamento, pos<span class=\"_ _29\"></span>tali e telefoniche (41.330) (41) Premi assicurativi (7.568) (90) Locazioni immobiliari (2.036) (265) Manutenzioni (17.837) (40) Canoni di leasing e noleggi (507) (16) Oneri tributari diversi (1.771) (37) Contributi associativi (252) (232) Costi diversi netti (10.322) (250) Beneficenze (482) (26) Oneri per servizi da banche (444) (8) Minusvalenze su cessione immobil<span class=\"_ _29\"></span>i 597   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(136.034) (4.261) Commissioni (4.956)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Rilascio fondi 291   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Accantonamento a fon<span class=\"_ _29\"></span>di rischi (10.492)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Costi di produzione e vendit<span class=\"_ _29\"></span>a (5.734)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Oneri su <span class=\"ff5a\">Warrant Management</span> (2.085) (540) Altri costi operativi (159.010) (4.801) Tra <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>locazio<span class=\"_ _0\"></span>ni <span class=\"_ _2d\"> </span>immobiliari <span class=\"_ _2a\"> </span>figurano <span class=\"_ _2d\"> </span>Euro <span class=\"_ _2a\"> </span>268 <span class=\"_ _2d\"> </span>migliaia <span class=\"_ _2d\"> </span>verso <span class=\"_ _2a\"> </span>parti <span class=\"_ _2d\"> </span>correlate <span class=\"_ _2d\"> </span>relativi <span class=\"_ _2d\"> </span>ai <span class=\"_ _2a\"> </span>costi <span class=\"_ _2d\"> </span>di locazione immobiliare sostenuti dalla Capo<span class=\"_ _0\"></span>gruppo e non elisi in consolidato.<span class=\"_ _0\"></span> Gli <span class=\"_ _2d\"> </span>\u201cOneri <span class=\"_ _2c\"> </span>s<span class=\"_ _0\"></span>u <span class=\"_ _2d\"> </span>Warrant <span class=\"_ _2d\"> </span>Management\u201d, <span class=\"_ _2c\"> </span>facenti <span class=\"_ _2d\"> </span>capo <span class=\"_ _2d\"> </span>alla <span class=\"_ _2d\"> </span>Capogruppo, <span class=\"_ _2d\"> </span>accolgono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"> </span>effetti <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>calcol<span class=\"_ _0\"></span><span class=\"ff56 ls65\">o </span>attuariale <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>app<span class=\"_ _0\"></span>licazione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>previsioni dell\u2019IFRS <span class=\"_ _2b\"></span>2 e <span class=\"_ _2b\"></span>hanno come <span class=\"_ _2b\"></span>contropartita <span class=\"_ _29\"></span>un <span class=\"_ _29\"></span>incremento <span class=\"_ _2b\"></span>di patrimonio netto <span class=\"_ _0\"></span>(per <span class=\"_ _0\"></span>ulteriori <span class=\"_ _0\"></span>dettagli <span class=\"_ _0\"></span>circa <span class=\"_ _0\"></span>l\u2019assegnazione <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span><span class=\"ff5a\">Warrant <span class=\"_ _0\"></span>Management<span class=\"ff56\"> <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>rimanda <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>qua<span class=\"_ _0\"></span>nto <span class=\"_ _0\"></span>riportato <span class=\"_ _0\"></span>nella </span></span>nota esplicativa 4.13). 5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.<span class=\"_ _0\"></span> 5.6.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Risultato p<span class=\"_ _0\"></span>artecipazioni Il dettaglio della voce \u00e8 il seguente: (in migliaia di Euro) 2022 2021 Risultato partecipate a patrim<span class=\"_ _29\"></span>onio netto (10.285) -<span class=\"lsb\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span> (57) Utili/Perdite cessione quote di<span class=\"_ _29\"></span> fondi e titoli 9.077  72.970  Valutazione a <span class=\"ff5a\">fair value</span> di parteci<span class=\"_ _29\"></span>pazioni 1.013  475  Dividendi Risultato partecipazioni (195) 73.388  Il <span class=\"_ _23\"></span>\u201c<span class=\"ff5a\">risultato <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>partecipate <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>patrimonio <span class=\"_ _23\"></span>netto</span>\u201d, <span class=\"_ _23\"></span>neg<span class=\"_ _0\"></span>ativo <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _23\"></span>10.285 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>relativo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>alle partecipazioni afferenti al gruppo KME SE (KMD e <span class=\"_ _0\"></span>Magnet).<span class=\"_ _0\"></span> La voce <span class=\"_ _2b\"></span>\u201c<span class=\"ff5a\">Valutazion<span class=\"_ _0\"></span>i a <span class=\"_ _2b\"></span>fair value <span class=\"_ _29\"></span>di partecipazioni<span class=\"ff5d\">\u201d <span class=\"_ _29\"></span>riflette <span class=\"_ _29\"></span>l\u2019effetto della <span class=\"_ _2b\"></span>valutazione al <span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> delle </span></span></span></span>partecipazioni di controllo d<span class=\"_ _0\"></span>etenute dalla Capogrup<span class=\"_ _0\"></span>po la quale applicava <span class=\"_ _0\"></span>sino al 22 <span class=\"_ _0\"></span>aprile 2022 l\u2019eccezione al consolidamento <span class=\"_ _2e\"> </span>prevista <span class=\"_ _2f\"> </span>dal <span class=\"_ _2e\"> </span>par. <span class=\"_ _2e\"> </span>31 <span class=\"_ _2f\"> </span>dell\u2019IFRS <span class=\"_ _8b\"> </span>10<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span>in <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2e\"> </span>in <span class=\"_ _2e\"> </span>possesso <span class=\"_ _2f\"> </span>d<span class=\"_ _0\"></span>ella <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>alifica <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>\u201centit\u00e0 <span class=\"_ _2f\"> </span>di investimento\u201d. <span class=\"_ _23\"></span>Nello <span class=\"_ _22\"></span>specifico,<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>l\u2019ammontare <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>voce <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _23\"></span>dicembre <span class=\"_ _23\"></span>2022 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>relativo <span class=\"_ _23\"></span>all\u2019incremento <span class=\"_ _22\"></span>dell<span class=\"_ _0\"></span>a valorizzazione <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>parte<span class=\"_ _0\"></span>cipazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>controllo <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>(al <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>quotazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>da<span class=\"_ _0\"></span>ta del <span class=\"_ _2b\"></span>22 <span class=\"_ _2b\"></span>apri<span class=\"_ _0\"></span><span class=\"ff5d\">le <span class=\"_ _2b\"></span>2022, <span class=\"_ _2b\"></span>data <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>cambio <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>stato <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>entit\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>investimento) <span class=\"_ _2b\"></span>rispetto <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>2021. <span class=\"_ _29\"></span>L\u2019ammontare </span>del <span class=\"_ _0\"></span>periodo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>confront<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>invece <span class=\"_ _0\"></span>relativo <span class=\"_ _0\"></span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>valorizzazione <span class=\"_ _0\"></span>dell<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>partecipazione <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>99% in<span class=\"_ _0\"></span> KME SE che a tale data era detenuta direttam<span class=\"_ _0\"></span>ente dalla Capogrup<span class=\"_ _0\"></span>po.  Per <span class=\"_ _2c\"></span>completezza: <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"> </span>valu<span class=\"_ _0\"></span>tazione <span class=\"_ _2c\"></span>a<span class=\"_ _0\"></span><span class=\"ff5a\"> <span class=\"_ _2c\"></span>fair <span class=\"_ _2c\"></span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>2021<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>si <span class=\"_ _2c\"></span>riferiva <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"> </span>Eu<span class=\"_ _0\"></span>ro <span class=\"_ _2c\"></span>68.800 migliaia <span class=\"_\"> </span>a <span class=\"_ _2d\"> </span>K<span class=\"_ _0\"></span>ME <span class=\"_\"> </span>SE, <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>Euro <span class=\"_\"> </span>1.604 <span class=\"_ _2a\"> </span>migliaia <span class=\"_ _2a\"> </span>a <span class=\"_ _2a\"> </span>CULTI <span class=\"_ _2a\"> </span>Milano <span class=\"_\"> </span>SpA, <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>Euro <span class=\"_\"> </span>1.496 <span class=\"_ _2d\"> </span>migliaia <span class=\"_\"> </span>a <span class=\"_\"> </span>Intek Investimenti SpA, per Euro 769 migliaia a <span class=\"_ _29\"></span>Ducati Energia SpA <span class=\"_ _29\"></span>e per Euro <span class=\"_ _29\"></span>300 migliaia <span class=\"_ _29\"></span>a KME Germany Bet. GmbH. I dividendi sono relativi principalmente a quanto<span class=\"_ _0\"></span> incassato dalla partecipata Ducati Energia SpA.<span class=\"_ _0\"></span> 5.7.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Imposte correnti e differit<span class=\"_ _0\"></span>e (in migliaia di Euro) 2022 2021 Imposte correnti (7.536) 1.893  Imposte differite 26.846  (438) Imposte correnti e differite 19.310  1.455  A <span class=\"_ _2d\"> </span>decorrere <span class=\"_ _2d\"> </span>dal <span class=\"_ _2d\"> </span>2007<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>l<span class=\"ls3\">a <span class=\"_ _2d\"> </span></span>magg<span class=\"_ _0\"></span>ior <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>sue <span class=\"_ _2a\"> </span>controllate <span class=\"_ _2d\"> </span>italiane <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2d\"> </span>esercitato l\u2019opzione <span class=\"_ _2b\"></span>per il <span class=\"_ _2b\"></span>regime <span class=\"_ _2b\"></span>fiscale <span class=\"_ _29\"></span>del <span class=\"_ _2b\"></span>\u201c<span class=\"ff56\">con<span class=\"_ _0\"></span>solidato <span class=\"_ _29\"></span><span class=\"ff5d\">fiscale <span class=\"_ _2b\"></span>nazionale\u201d determinando <span class=\"_ _2b\"></span>l\u2019IRES <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>base <span class=\"_ _2b\"></span>imponibile<span class=\"_ _0\"></span> </span></span>corrispondente <span class=\"_ _2d\"> </span>alla <span class=\"_ _2d\"> </span>somma <span class=\"_ _2d\"> </span>algebrica <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>imponibili <span class=\"_ _2d\"> </span>positiv<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>negativi <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>singole <span class=\"_ _2d\"> </span>societ\u00e0. <span class=\"_ _2d\"> </span>I <span class=\"_ _2d\"> </span>rapporti economici, oltre <span class=\"_ _0\"></span>alle <span class=\"_ _0\"></span>responsabilit\u00e0 <span class=\"_ _0\"></span>e agli <span class=\"_ _0\"></span>obblighi <span class=\"_ _0\"></span>reciproci, <span class=\"_ _0\"></span>sono defini<span class=\"_ _0\"></span><span class=\"ff5d\">ti <span class=\"_ _0\"></span>nell\u2019accordo <span class=\"_ _0\"></span>e regolamento <span class=\"_ _0\"></span>relativi </span>all\u2019opzione <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span><span class=\"ff56\">consolidato<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>fiscale <span class=\"_ _2b\"></span>nazionale <span class=\"_ _2b\"></span>secondo <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>ale <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>controllante <span class=\"_ _2b\"></span>e/o <span class=\"_ _2b\"></span>le <span class=\"_ _2b\"></span>contro<span class=\"_ _0\"></span>llate <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>imponibile </span>negativo <span class=\"_ _0\"></span>ricevono <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>compensazione <span class=\"_ _0\"></span>pari <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>relativo <span class=\"_ _0\"></span>risparmio<span class=\"_ _0\"></span> d\u2019<span class=\"_ _0\"></span>imposta <span class=\"_ _0\"></span>realizzato <span class=\"_ _0\"></span>dalla <span class=\"_ _0\"></span>controllant<span class=\"_ _22\"></span><span class=\"ff56\">e e/o <span class=\"_ _0\"></span>le<span class=\"_ _0\"></span> </span>controllate con imponibile positivo.<span class=\"_ _0\"></span> Correlazione fra oneri fiscali e risultato conta<span class=\"_ _0\"></span>bile: (in migliaia di Euro) 2022 2021 Risultato Ante Imposte 26.409  63.851  Carico fiscale teorico (aliqu<span class=\"_ _29\"></span>ota fiscale utilizzata 24%) (6.338) (15.324) Riconciliazione: Effetto dovuto alle diverse ali<span class=\"_ _29\"></span>quote fiscali: (265)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri effetti: - (Oneri) non deducibili  e pr<span class=\"_ _29\"></span>oventi non imponibili (1.605) (1.101) - Perdite fiscali - Imposte diff<span class=\"_ _29\"></span>erite non stanziate 21.913   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Utilizzo perdite fiscali 954   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Rivalutazioni/Svalutazioni s<span class=\"_ _29\"></span>u partecipazioni e titoli 2.179  17.513  - Imposte correnti esercizi pre<span class=\"_ _29\"></span>cedenti (148)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Altro 2.620  367  Imposte rilevate a conto ec<span class=\"_ _29\"></span>onomico 19.310  1.455  6.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Altre informazioni </span></span>6.1.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Strumenti fin<span class=\"_ _0\"></span>anziari per categorie Di <span class=\"_ _2b\"></span>seguito <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>presentano <span class=\"_ _2b\"></span>le <span class=\"_ _29\"></span>informazioni <span class=\"_ _2b\"></span>integrative <span class=\"_ _29\"></span>relative <span class=\"_ _2b\"></span>agli <span class=\"_ _29\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>categorie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>attivit\u00e0 e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>fi<span class=\"_ _0\"></span>nanziarie; <span class=\"_ _23\"></span>si <span class=\"_ _28\"></span>specifica <span class=\"_ _23\"></span>che<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>nella <span class=\"_ _23\"></span>tabella<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>rappresentate <span class=\"_ _23\"></span>anche <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>voci <span class=\"_ _23\"></span>credit<span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>diversi <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>altre attivit\u00e0 nonch\u00e9 le voci debiti diversi e altre p<span class=\"_ _0\"></span>assivit\u00e0.  (in migliaia di Euro) 31-dic-22 31-dic-21 Variazione Attivit\u00e0 finanziarie al <span class=\"ff5a\">fair value</span> rilevato<span class=\"_ _29\"></span> a conto economico 11.139  637.620  (626.481) Attivit\u00e0 finanziarie al <span class=\"ff5a\">fair value</span> rilevato<span class=\"_ _29\"></span> a conto economico 17.641   -<span class=\"lsd\">  </span> 17.641  complessivo Costo ammortizzato 333.435  40.729  292.706  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0  362.215  678.349  (316.134) Passivit\u00e0 finanziarie al <span class=\"ff5a\">fair val<span class=\"_ _29\"></span>ue<span class=\"ff56\"> rilevato a conto economic<span class=\"_ _29\"></span>o </span></span>(10.652) (240) (10.412) Passivit\u00e0 finanziarie e debiti al costo<span class=\"_ _29\"></span> ammortizzato (1.085.316) (130.292) (955.024) Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (1.095.968) (130.532) (965.436) 6.2.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Strumenti fin<span class=\"_ _0\"></span>anziari per voce di bilancio<span class=\"_ _0\"></span> Di <span class=\"_ _2d\"> </span>seguito <span class=\"_ _2d\"> </span>si<span class=\"_ _29\"></span> <span class=\"_ _2d\"> </span>rappresentano <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"></span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>dell<span class=\"_ _0\"></span>e <span class=\"_ _2d\"> </span>relative <span class=\"_ _2d\"> </span>voci <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 dicembre <span class=\"ls1\">2022</span>: (in migliaia di Euro) Metodo di valutazione Valore Non Valore  Fair  Valori al 31 dicembre 2022<span class=\"_ _29\"></span> contabile Costo disciplinato Fair Value<span class=\"ff56\"> </span>Value IFRS 7 Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654 76.654 - Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405 17.405 17.405 Altre attivit\u00e0 non correnti 3.106  3.106   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>3.106  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 3.245  3.009  236   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>3.245  Crediti commerciali 95.359  95.359   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>95.359  Attivit\u00e0 finanziarie correnti 110.101  98.962  11.139   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>110.101  Altri crediti ed attivit\u00e0 correnti 15.423  4.155   -<span class=\"lsd\">  </span> 11.268  4.155  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 128.844  128.844   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>128.844  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0 450.137 333.435 28.780 87.922 362.215 (240.758) (240.758)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(240.758) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (155.991) (155.991)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(155.991) Titoli obbligazionari  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 non correnti (109.455) (98.803) (10.652)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(109.455) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (540.725) (540.725)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(540.725) Debiti verso fornitori (68.854) (49.039)  -<span class=\"lsd\">  </span> (19.815) (49.039) Altre passivit\u00e0 correnti Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (1.115.783) (1.085.316) (10.652) (19.815) (1.095.968) (in migliaia di Euro) Metodo di valutazione Valore Non Valore  Fair  Valori al 31 dicembre 2021<span class=\"_ _29\"></span> contabile Costo disciplinatFair Value<span class=\"ff56\"> </span>Value o IFRS 7 Partecipazioni 637.123   -<span class=\"lsd\">  </span> 637.123   -<span class=\"lsd\">  </span> 637.123  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>Altre attivit\u00e0 non correnti 3 <span class=\"ls0\"> </span>3 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 3 <span class=\"ls0\"> </span>Crediti commerciali 5.039  5.039   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 5.039  Altri crediti e attivit\u00e0 corre<span class=\"_ _29\"></span>nti 5.680  5.037   -<span class=\"lsd\">  </span> 643  5.037  Attivit\u00e0 finanziarie correnti 26.444  25.952  492   -<span class=\"lsd\">  </span> 26.444  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 4.698  4.698   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 4.698  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0 678.992  40.729  637.620  643  678.349  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (2.445) (2.440) (5)  -<span class=\"lsd\">  </span> (2.445) Obbligazioni (92.372) (92.372)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (92.372) Altre passivit\u00e0 non correnti (113) (113)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (113) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (29.677) (29.442) (235)  -<span class=\"lsd\">  </span> (29.677) Debiti verso fornitori (2.238) (2.238)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.238) Altre passivit\u00e0 correnti (3.813) (3.687)  -<span class=\"lsd\">  </span> (126) (3.687) Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (130.658) (130.292) (240) (126) (130.292) Il valore contabile delle attivit\u00e0 e passivit\u00e0 finanziarie riconosciute nel presente bilancio non si discosta dal loro <span class=\"ff5a\">fair value</span>. L\u2019IFRS <span class=\"_ _22\"></span>13 <span class=\"_ _22\"></span>stabilisce <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>gerarchia <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>classifica <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>tre <span class=\"_ _22\"></span>livelli <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>input <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>tecniche <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> valutazione <span class=\"_ _23\"></span>adottate <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>misurare <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value. <span class=\"_ _23\"></span>La <span class=\"_ _23\"></span>gerarchia <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _22\"></span>attribuisce <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>massima <span class=\"_ _23\"></span>priorit\u00e0 <span class=\"_ _23\"></span>ai prezzi quotati <span class=\"_ _0\"></span>(non <span class=\"_ _0\"></span>rettificati) <span class=\"_ _0\"></span>in mercati <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>attivit\u00e0 o <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>identiche (dati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Livello 1)<span class=\"_ _0\"></span> e <span class=\"_ _0\"></span>la prio<span class=\"_ _0\"></span>rit\u00e0 minima agli input non osservabil<span class=\"_ _0\"></span>i (dati di Livello 3): \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 1 <span class=\"ff5d\">\u2013</span> quotazioni rilevate su un mercato attivo per attivit\u00e0 o passivit\u00e0 oggetto <span class=\"_ _0\"></span>di valutazione;<span class=\"_ _0\"></span> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">Livello <span class=\"_\"> </span>2 <span class=\"_ _2a\"> </span><span class=\"ff5d\">\u2013</span> <span class=\"_\"> </span><span class=\"ff5a\">input</span> <span class=\"_\"> </span>diversi <span class=\"_ _2a\"> </span>dai <span class=\"_\"> </span>prezz<span class=\"_ _29\"></span>i <span class=\"_\"> </span>quotati <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>cui <span class=\"_\"> </span>al <span class=\"_ _2a\"> </span>punto <span class=\"_\"> </span>precedente, <span class=\"_ _2a\"> </span>che <span class=\"_\"> </span>sono <span class=\"_\"> </span>osservabili </span>direttamente (prezzi) o indirettamente (derivati dai prezzi) sul mer<span class=\"_ _0\"></span>cato;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 3 <span class=\"ff5d\">\u2013</span> <span class=\"ff5a\">input</span> che non sono basati su dati di mercato osservabili.<span class=\"_ _0\"></span> </span></span>Per <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>essere <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022, <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _22\"></span>comparativi, <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021, nella <span class=\"_ _23\"></span>tabella <span class=\"_ _23\"></span>sottostante <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>illustrata <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>gerarchia <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>sono misurate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>ricorrente <span class=\"_ _23\"></span>(nel <span class=\"_ _0\"></span>livello <span class=\"_ _23\"></span>3 <span class=\"_ _0\"></span>sono <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>valori <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>carico <span class=\"_ _23\"></span>delle <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>finanziarie non quotate iscritte al costo in assenza di un <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> disponibile). Valore di  Livelli di Fair Value (in migliaia di Euro) Fair Value 1 2 3 al 31/12/2022 17.405   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 17.405  Partecipazioni 236   -<span class=\"lsd\">  </span> 236<span class=\"lsd\">  </span> -  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 11.139   -<span class=\"lsd\">  </span> 10.967  Attivit\u00e0 finanziarie correnti Totale attivit\u00e0 finanziarie 28.780    <span class=\"ls0\">-  </span>11.203  17.577   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti 10.652   -<span class=\"lsd\">  </span> 10.652   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> Totale passivit\u00e0 finanziarie 10.652    <span class=\"ls0\">-  </span>10.652    <span class=\"ls0\">-  </span>Valore di  Livelli di Fair Value (in migliaia di Euro) Fair Value al 31/12/2021<span class=\"ff5c fs5\"> </span>1 2 3 Partecipazioni 637.123  28.904   -<span class=\"lsd\">  </span> 608.219  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>Attivit\u00e0 finanziarie correnti 492   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 492  Totale attivit\u00e0 finanziarie 637.620  28.904   -<span class=\"lsd\">  </span> 608.716  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (5)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (5) Debiti e passivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> (235)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (235) Totale passivit\u00e0 finanziarie (240)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (240) Riclassificazione strumenti finanziari<span class=\"_ _0\"></span> Con <span class=\"_ _23\"></span>riferimento <span class=\"_ _22\"></span>alle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>misurate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>su <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>ricorrente<span class=\"lsb\">, </span>nell\u2019esercizio <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span><span class=\"ff56\">non <span class=\"_\"> </span>c<span class=\"_ _29\"></span>i <span class=\"_ _2a\"> </span>sono <span class=\"_\"> </span>stati <span class=\"_ _2a\"> </span>trasferimenti <span class=\"_ _2a\"> </span>dal <span class=\"_\"> </span>livello <span class=\"_ _2a\"> </span>3 <span class=\"_ _2a\"> </span>ad <span class=\"_ _2a\"> </span>altri <span class=\"_ _2a\"> </span>livelli <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>viceversa <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da </span>cambiamenti nelle significative variabili di in<span class=\"_ _0\"></span>put delle tecniche valutativ<span class=\"_ _0\"></span>e osservabili.  Gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>rilevati <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>situazione <span class=\"_ _23\"></span>patrimoniale<span class=\"ff5d\">\u2013</span>finanziaria <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre 2021 <span class=\"ls0\">(rappresentati nella tabella in basso) includevano prin<span class=\"_ _0\"></span>cipalmente gli in<span class=\"_ _0\"></span>vestimenti partecipativi per <span class=\"_ _0\"></span>la cui </span>valutazione <span class=\"_ _22\"></span>erano <span class=\"_ _22\"></span>stati <span class=\"_ _22\"></span>utilizzati <span class=\"_ _22\"></span><span class=\"ff5a\">inpu<span class=\"_ _0\"></span>t <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _22\"></span>livello <span class=\"_ _22\"></span>3, <span class=\"_ _22\"></span>fatta <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>per <span class=\"_ _0\"></span>l\u2019investimento <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CU<span class=\"_ _0\"></span>LTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>SpA </span></span>che <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"_ _2b\"></span>2021 <span class=\"_ _29\"></span>era <span class=\"_ _2b\"></span>stato <span class=\"_ _2b\"></span>valutato <span class=\"_ _2b\"></span>sulla <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>(Livello <span class=\"_ _2b\"></span>1). <span class=\"_ _29\"></span>Si <span class=\"_ _2b\"></span>ricorda <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>bilancio </span>2022, in considera<span class=\"ff5d\">zion<span class=\"_ _0\"></span>e del \u201ccambio di stato\u201d <span class=\"_ _0\"></span>la Societ\u00e0 ha proceduto<span class=\"_ _0\"></span> a consolidare integralmente <span class=\"_ _22\"></span></span>i principali investimenti <span class=\"_ _29\"></span>partecipativi <span class=\"_ _2b\"></span>di controllo <span class=\"_ _2b\"></span>(tra <span class=\"_ _2b\"></span>cui <span class=\"ff5d ls9\">l\u2019i</span>nvestimento <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>CULTI <span class=\"_ _2b\"></span>Milano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>SpA<span class=\"_ _0\"></span>, <span class=\"_ _2b\"></span>per Euro <span class=\"_ _2b\"></span>28.904 <span class=\"_ _29\"></span>migliaia, che era precedentemente evidenziato a Livello <span class=\"_ _0\"></span>1). 6.3.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Valore noziona<span class=\"_ _0\"></span>le degli strumenti finanziari e dei derivati<span class=\"_ _0\"></span> (in migliaia di Euro) Gruppo CULTI Tipologia IRS  IRS  IRS  Finalit\u00e0 Copertura Copertura Copertura Valore nozionale originari<span class=\"_ _29\"></span>o 2.500  800  1.000  Valore nozionale 31/12/2022 2.037  800  1.000  Valore di bilancio 116  49  71  Anno scadenza 2026 2026 2029 (in migliaia di Euro) Gruppo KME SE Tipologia LME Firm Committment Valore nozionale 31/12/2022 426.186  236.036 Data scadenza 2023 2023 6.4.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> credito L'esposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>rischi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>sua <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erativa <span class=\"_ _2d\"> </span>(in particolare <span class=\"_ _2d\"> </span>settore <span class=\"_ _2d\"> </span>Rame). <span class=\"_ _2a\"> </span><span class=\"ff5d\">Il <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>l\u2019e<span class=\"_ _0\"></span>sposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>potenziali <span class=\"_ _2d\"> </span>perdit<span class=\"_ _0\"></span>e </span>derivanti <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>mancato <span class=\"_ _0\"></span>adempimento <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>obbligaz<span class=\"_ _0\"></span>ioni <span class=\"_ _0\"></span>assunte <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>controparti <span class=\"_ _0\"></span>sia commercial<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>sia <span class=\"_ _0\"></span>finanziarie. Tale <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>discende <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>incipalmente <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>fatto<span class=\"_ _0\"></span>ri <span class=\"_ _0\"></span>economico<span class=\"_ _0\"></span>-finanziari, <span class=\"_ _22\"></span>ovvero <span class=\"_ _0\"></span>dalla <span class=\"_ _0\"></span>possibilit\u00e0 <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>verifichi una situazione di default di una controparte, o<span class=\"_ _0\"></span>vvero da fattori pi\u00f9 strettamente te<span class=\"_ _0\"></span>cnico-commerciali. La <span class=\"_ _0\"></span>massima <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>sposizione <span class=\"_ _0\"></span>teorica <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>rischio <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>credito <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rappresenta<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>contabile delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>iscritti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>bilancio. <span class=\"_ _23\"></span>Si <span class=\"_ _23\"></span>segnala <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>alcune <span class=\"_ _23\"></span>posizioni <span class=\"_ _23\"></span>creditorie <span class=\"_ _23\"></span>risultano garantite (i.e. per quanto riguarda i <span class=\"_ _0\"></span>crediti commerciali, gran parte del ri<span class=\"_ _0\"></span>schio \u00e8 garantito dal factorin<span class=\"_ _0\"></span>g). La <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>centrazione <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>caso <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>limitata <span class=\"_ _28\"></span>grazie all'ampia ed eterogenea base di clienti. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>accantonamenti <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>fond<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>svalutazione <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>so<span class=\"_ _0\"></span>no <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>maniera <span class=\"_ _28\"></span>specifica <span class=\"_ _2c\"></span>sulle <span class=\"_ _28\"></span>posizioni creditorie <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>esentano <span class=\"_ _2d\"> </span>elementi <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2d\"> </span>peculiari. <span class=\"_ _2d\"> </span>Sulle <span class=\"_ _2d\"> </span>posizioni <span class=\"_ _2c\"> </span>credito<span class=\"_ _0\"></span>rie <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2d\"> </span>presentano <span class=\"_ _2c\"> </span>tali<span class=\"_ _0\"></span> caratteristiche, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>invece <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span>bas<span class=\"_ _0\"></span><span class=\"ff5d\">e <span class=\"_ _23\"></span>dell\u2019esigibilit\u00e0 <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>sti<span class=\"_ _0\"></span>mata <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>funzione <span class=\"_ _22\"></span>di </span>indicatori <span class=\"_ _2d\"> </span>statistici: <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2d\"> </span>viene <span class=\"_ _2d\"> </span>efffettuata <span class=\"_ _2d\"> </span>tramite <span class=\"_ _2d\"> </span>portafogli <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>clienti <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>dell'esperienza passata, azioni e/o informazioni finanziarie<span class=\"_ _0\"></span>, nonch\u00e9 delle linee di credito<span class=\"_ _0\"></span> e vengono operate svalutazion<span class=\"_ _0\"></span>i. Per <span class=\"_ _0\"></span>quanto <span class=\"_ _22\"></span>concerne <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>risc<span class=\"_ _0\"></span>hio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>credito <span class=\"_ _0\"></span>afferente <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>componenti <span class=\"_ _22\"></span>attive <span class=\"_ _22\"></span>nonch\u00e9 <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>strumenti <span class=\"_ _0\"></span>finanziari<span class=\"_ _0\"></span> derivati, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>solvibilit\u00e0 <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>limitato <span class=\"_ _23\"></span>dal <span class=\"_ _23\"></span>fatto <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>relativi <span class=\"_ _23\"></span>contratti <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stipulati <span class=\"_ _23\"></span>esclusivamente <span class=\"_ _23\"></span>con controparti e/o istituti di credito con un <span class=\"_ _0\"></span><span class=\"ff5a\">rating</span> affidabile. 6.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> cambio Al <span class=\"_ _28\"></span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _28\"></span>2<span class=\"_ _0\"></span>021 <span class=\"_ _28\"></span>non <span class=\"_ _2c\"></span>erano <span class=\"_ _28\"></span>presenti <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>valuta <span class=\"_ _2c\"></span>estera, <span class=\"_ _2c\"></span>diversamente, <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>fronte dell\u2019incremento <span class=\"_ _2d\"> </span>dell\u2019area <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>consolidamento, <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2c\"> </span>ha <span class=\"_ _2d\"> </span>operato <span class=\"_ _2d\"> </span><span class=\"ff56\">a <span class=\"_ _2c\"> </span>livello <span class=\"_ _2d\"> </span>internazionale <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>ha </span>condotto le proprie transazioni in<span class=\"_ _0\"></span> diverse valute.  Nel <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>queste <span class=\"_ _28\"></span>operazioni, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>ricavi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>generati <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>valute <span class=\"_ _28\"></span>diverse <span class=\"_ _28\"></span>dalla <span class=\"_ _28\"></span>valuta <span class=\"_ _28\"></span>funzio<span class=\"_ _0\"></span>nale <span class=\"_ _23\"></span>della<span class=\"_ _0\"></span> Capogruppo. <span class=\"_\"> </span>La <span class=\"_\"> </span>politica <span class=\"_\"> </span>del <span class=\"_\"> </span>Gruppo <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>quella <span class=\"_\"> </span>di <span class=\"_\"> </span>monitorare <span class=\"_\"> </span>ed <span class=\"_\"> </span>eventualmente <span class=\"_ _8b\"> </span>coprire <span class=\"_\"> </span>i <span class=\"_\"> </span>suddetti <span class=\"_\"> </span>rischi utilizzando strumenti finanziari derivati, quali <span class=\"_ _0\"></span><span class=\"ff5a\">cross currency swap<span class=\"_ _0\"></span></span> e contratti a termine. I rischi valutari sono relativi principalmente al d<span class=\"_ _0\"></span>ollaro: (in migliaia di Euro) USD GBP CHF Esposizione lorda 32.355  3.722  1.065  Forward exchange contracts 35.578  3.958  862  Esposizione netta (3.223) (236) 203  Un <span class=\"_ _22\"></span>rafforzamento <span class=\"_ _22\"></span>(indebolimento) <span class=\"_ _22\"></span>realisticamente <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssibile <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>te <span class=\"_ _0\"></span>rispetto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>alle <span class=\"_ _0\"></span>altre <span class=\"_ _22\"></span>valute <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 dicembre <span class=\"_ _2b\"></span>avrebbe <span class=\"_ _29\"></span>influenzato <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>strumenti <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>valuta <span class=\"_ _2b\"></span>estera <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>essenzialmente <span class=\"_ _29\"></span>l'utile o la perdita <span class=\"ff5d\">d\u2019esercizio</span><span class=\"lsb\">. </span> Nell'analisi di sensitivit\u00e0 per le valute si \u00e8 ipotizzato che il tasso di cambio dell'<span class=\"_ _0\"></span>Euro rispetto alla valuta estera vari del <span class=\"_ _29\"></span>+/-10 % in <span class=\"_ _29\"></span>ciascun caso. <span class=\"_ _29\"></span>Se l'Euro fosse <span class=\"_ _29\"></span>stato pi\u00f9 forte<span class=\"_ _29\"></span> o pi\u00f9 <span class=\"_ _29\"></span>debole del <span class=\"_ _29\"></span>10% rispetto alla <span class=\"_ _29\"></span>valuta estera ri<span class=\"_ _0\"></span>spetto <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>dominante <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>bilancio<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>capitale <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>rio <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>risultato <span class=\"_ _0\"></span>annuale <span class=\"_ _0\"></span>sarebbero <span class=\"_ _0\"></span>stati modificati secondo lo schema presentato nella tabella segu<span class=\"_ _0\"></span>ente.  Nell'analisi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ipotizza <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>tutti <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _22\"></span>fattori <span class=\"_ _22\"></span>d'influenza, <span class=\"_ _22\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>particolare <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>tassi <span class=\"_ _22\"></span>d'interesse, <span class=\"_ _22\"></span>rimangano costanti.  Nel cal<span class=\"_ _0\"></span>colo <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>incluse <span class=\"_ _0\"></span>tutte <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>posizioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>valuta <span class=\"_ _0\"></span>estera <span class=\"_ _0\"></span>rilevanti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>fatturato <span class=\"_ _0\"></span>previsto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>periodo<span class=\"_ _0\"></span> successivo, tenuto conto del rischio di cambio.<span class=\"_ _0\"></span> (in migliaia di Euro) USD GBP CHF Rafforzamento 10% (322) (24) 20  Indebolimento 10% 322  24  (20) 6.6.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> fluttuazione valore azioni<span class=\"_ _0\"></span> Il valore <span class=\"_ _2b\"></span>contabile delle attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie rappresenta l\u2019esposizione <span class=\"_ _2b\"></span>massima <span class=\"ff56\">del Gruppo a<span class=\"_ _29\"></span> tale <span class=\"_ _2b\"></span>rischio. </span>6.7.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> tasso di interesse Al <span class=\"_ _22\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>2022 <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _23\"></span>fruttifere <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>interessi <span class=\"_ _23\"></span>presentano <span class=\"_ _23\"></span>la seguente esposizione al rischio tasso<span class=\"_ _0\"></span> di interesse: (in milioni di Euro) +100 Basis Point - 50 Basis Point Effetto sul risultato d'esercizi<span class=\"_ _29\"></span>o 2022 3,3  (1,6) Effetto sul Patrimonio Nett<span class=\"_ _29\"></span>o 2022 3,3  (1,6) Alla data di <span class=\"_ _29\"></span>chiusura del presente <span class=\"_ _29\"></span>Bilancio Consolidato, sono in <span class=\"_ _2b\"></span>essere i IRS Swap a copertura del <span class=\"_ _29\"></span>tasso di interesse del finanziamento in capo a<span class=\"_ _0\"></span>: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">CULTI <span class=\"_ _2b\"></span>Milano <span class=\"_ _2b\"></span>S.p.A. relativamente <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>finanziamento <span class=\"_ _2b\"></span>acceso nell\u2019<span class=\"ff56\">esercizio <span class=\"_ _2b\"></span>2020 <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>2,5 <span class=\"_ _29\"></span>milioni </span></span></span>con l\u2019istituto ICCREA<span class=\"ff56\"> Banca;  </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Scent Company Srl <span class=\"ls3\">acceso</span> <span class=\"ff5d\">nell\u2019esercizio 20<span class=\"_ _0\"></span>20 di Euro 0,8 milioni con l\u2019istituto Intesa San<span class=\"_ _0\"></span></span>paolo; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Bakel <span class=\"_ _2b\"></span>Srl <span class=\"_ _2b\"></span><span class=\"ff5d\">relativamente <span class=\"_ _2b\"></span>al <span class=\"_ _3d\"></span>f<span class=\"_ _0\"></span>inanziamento <span class=\"_ _2b\"></span>acceso <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"_ _2b\"></span>2022 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Euro <span class=\"_ _2b\"></span>0,8 <span class=\"_ _2b\"></span>milioni <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>l\u2019<span class=\"_ _0\"></span><span class=\"ff56\">istituto </span></span></span></span>ICCREA Banca. Al <span class=\"_ _29\"></span>termine <span class=\"_ _29\"></span>dell\u2019esercizio 2021, <span class=\"_ _2b\"></span>un incremento <span class=\"_ _29\"></span>(o <span class=\"_ _29\"></span>decremento) <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>50 <span class=\"ff5a\">basis <span class=\"_ _2b\"></span>po<span class=\"_ _0\"></span>int<span class=\"ff56\"> dei <span class=\"_ _2b\"></span>tassi di <span class=\"_ _2b\"></span>inte<span class=\"_ _0\"></span>resse <span class=\"_ _29\"></span>alla </span></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>riferi<span class=\"_ _0\"></span>mento <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>avrebbe <span class=\"_ _22\"></span>compo<span class=\"_ _0\"></span>rtato <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>incremento <span class=\"_ _23\"></span>(decremento) <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>patrimonio <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span> risultato di circa Euro <span class=\"ls1\">25</span> migliaia.  6.8.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> liquidit\u00e0 Il <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>liquidit\u00e0 <span class=\"_ _2c\"></span>pu\u00f2 <span class=\"_ _28\"></span>sorg<span class=\"_ _0\"></span>ere <span class=\"_ _28\"></span>dalle<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>difficol<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _28\"></span>ad <span class=\"_ _2c\"></span>ottenere <span class=\"_ _2c\"></span>finanziamenti <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>sup<span class=\"_ _0\"></span>porto <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 operative nella giusta tempistica. <span class=\"_ _0\"></span> Una sufficiente disponibilit\u00e0 di liquidit\u00e0 per il Grupp<span class=\"_ _0\"></span>o \u00e8 garantita dal flusso di cassa del Gruppo e dalle banche <span class=\"_ _28\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>linee <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cre<span class=\"_ _0\"></span>dito <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>breve <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>lungo <span class=\"_ _2c\"></span>termine. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>fluttuazioni <span class=\"_ _2c\"></span>nell'andamento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>flusso <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>cassa possono quindi essere assorbite<span class=\"_ _0\"></span>; le passivit\u00e0 del Gruppo<span class=\"_ _0\"></span> sono principalmente cos\u00ec distribuite:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">strumenti finanziari derivati: orizzonte temporale entro i 3 <span class=\"_ _0\"></span>mesi; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">passivit\u00e0 finanziarie diverse dagli strumenti finanziari d<span class=\"_ _0\"></span>erivati: orizzonte temporale da 1 a 5 anni<span class=\"_ _0\"></span>. </span></span>Si ricorda che sono in essere i due prestiti o<span class=\"_ _0\"></span>bbligazionari della Capogruppo:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">KME <span class=\"_ _2b\"></span>Group <span class=\"_ _2b\"></span>2020/2025<span class=\"ff56\">, <span class=\"_ _2b\"></span>emesso <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>f<span class=\"_ _0\"></span>ebbraio <span class=\"_ _2b\"></span>2020, <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>circolazione <span class=\"_ _2b\"></span>pe<span class=\"_ _0\"></span>r <span class=\"_ _2b\"></span>nomin<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>Euro 92.819<span class=\"_ _0\"></span> migliaia, </span></span></span>con un tasso fisso del 4,5% (cedola annuale);<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>KME <span class=\"_ _2a\"> </span>Group <span class=\"_ _2a\"> </span>2022/2027<span class=\"ff56\">, <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>a<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>settembre <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2a\"> </span>in <span class=\"_ _2d\"> </span>circolazi<span class=\"_ _0\"></span>one <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>nominali <span class=\"_ _2a\"> </span>Euro <span class=\"_ _2a\"> </span>63.533 </span>migliaia con un tasso fisso del 5,0% (cedola ann<span class=\"_ _0\"></span>uale). 6.9.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> prezzo materie prime Come <span class=\"_ _28\"></span>risultato <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>sue <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>commerciali, <span class=\"_ _23\"></span>il<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>esposto <span class=\"_ _28\"></span>ai <span class=\"_ _28\"></span>rischi <span class=\"_ _28\"></span>legati <span class=\"_ _28\"></span>ai <span class=\"_ _23\"></span>pr<span class=\"_ _0\"></span>ezzi <span class=\"_ _28\"></span>delle materie prime. Per mitigare tali rischi vengo<span class=\"_ _0\"></span>no stipulati, tra le altre misure, contratti a termine. <span class=\"_ _0\"></span> Il volume nominale degli strumenti finanziari derivati <span class=\"_ _0\"></span>relativi a rame, zinco, nichel, stagno e alluminio, che <span class=\"_ _0\"></span>risultano <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>totale <span class=\"_ _0\"></span>lord<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>degli <span class=\"_ _22\"></span>importi <span class=\"_ _22\"></span>nominali <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>contratti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acqui<span class=\"_ _0\"></span>sto <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>vendita <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _0\"></span>Euro<span class=\"_ _0\"></span> 662 milioni al 31 dicembre 2022.<span class=\"_ _0\"></span> In <span class=\"_ _0\"></span>conformit\u00e0 <span class=\"_ _0\"></span>all'IFRS <span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>rischi <span class=\"_ _0\"></span>legati <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>prezzo <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>elle <span class=\"_ _0\"></span>commodity <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>illustrati <span class=\"_ _0\"></span>sotto <span class=\"_ _22\"></span>forma <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>analisi di sensitivit\u00e0, che riflette gli effetti di <span class=\"_ _29\"></span>una variazione dei prezzi delle commodity sull'utile <span class=\"_ _29\"></span>netto <span class=\"ff5d\">dell\u2019esercizio</span>. Nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>un <span class=\"_ _2d\"> </span>aumento <span class=\"_ _2d\"> </span>(diminuzione) <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>100 <span class=\"_ _2d\"> </span>euro/tonnellata <span class=\"_ _2d\"> </span>del <span class=\"_ _2a\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>tutti <span class=\"_ _2d\"> </span>i <span class=\"_ _2d\"> </span>prezzi <span class=\"_ _2d\"> </span>delle commodity<span class=\"ff56\"> <span class=\"_ _22\"></span>rilevanti, <span class=\"_ _0\"></span>come <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>periodo <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>riferimento, <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>verificherebb<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>variazione <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>Euro <span class=\"_ _22\"></span>3,6 <span class=\"_ _22\"></span>milioni </span>(peggioramento in caso di incremento prezzi/miglio<span class=\"_ _0\"></span>ramento in caso di decremento prezzi).<span class=\"_ _0\"></span> Il <span class=\"_ _23\"></span><span class=\"ls0\">sud<span class=\"_ _0\"></span>detto <span class=\"_ _28\"></span>calcolo <span class=\"_ _23\"></span>in<span class=\"_ _0\"></span>clude <span class=\"_ _23\"></span>tu<span class=\"_ _0\"></span>tti <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>str<span class=\"_ _0\"></span>umenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _23\"></span>deriv<span class=\"_ _0\"></span>ati <span class=\"_ _28\"></span>sul <span class=\"_ _23\"></span>metallo <span class=\"_ _28\"></span>all<span class=\"_ _0\"></span>a <span class=\"_ _28\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del </span>bilancio. <span class=\"_ _40\"> </span> 7.<span class=\"ff5f ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5c\">Pubblicit\u00e0<span class=\"_ _0\"></span> dei corrispettivi dei servizi forniti dalla Societ\u00e0 di revisi<span class=\"_ _0\"></span>one <span class=\"_ _0\"></span> </span></span>Ai <span class=\"_ _22\"></span>sensi <span class=\"_ _23\"></span>dell\u2019art. <span class=\"_ _23\"></span>149<span class=\"ff56\">-</span>duodecies <span class=\"_ _23\"></span>\u201cRegolamento <span class=\"_ _22\"></span>Emitt<span class=\"_ _0\"></span>enti\u201d, <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>rip<span class=\"_ _0\"></span>ortata <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>tabella <span class=\"_ _23\"></span>riassuntiva<span class=\"ff56\"> </span>con l\u2019indicazione <span class=\"_ _0\"></span>dei corrisp<span class=\"_ _0\"></span>ettivi, di <span class=\"_ _0\"></span>competenza dell\u2019esercizio <span class=\"_ _22\"></span>al netto<span class=\"_ _0\"></span> delle <span class=\"_ _0\"></span>spese, dell\u2019IVA<span class=\"_ _0\"></span> e <span class=\"_ _0\"></span>dei contributi di <span class=\"_ _29\"></span>vigilanza, <span class=\"_ _2b\"></span>a fronte <span class=\"_ _2b\"></span>dei servizi <span class=\"_ _2b\"></span>forniti alla <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>alle societ\u00e0 <span class=\"_ _2b\"></span>contro<span class=\"_ _0\"></span>llate <span class=\"_ _29\"></span>dalla <span class=\"_ _2b\"></span>societ\u00e0 di <span class=\"_ _2b\"></span>revisione Deloitte &amp; Touche SpA e da altre societ\u00e0 d<span class=\"_ _0\"></span>el network: (in migliaia di Euro) Totale KME Group SpA Controllate a) servizi di revisione 1.403  212  1.191  b) servizi diversi dalla revisio<span class=\"_ _29\"></span>ne 137  137   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- servizi di verifica finalizzat<span class=\"_ _29\"></span>i all'emissione di<span class=\"_ _29\"></span> attestazione 130  130   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> - altri servizi 7 <span class=\"ls0\"> </span>7 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>c) servizi delle entit\u00e0 appartenenti al<span class=\"_ _29\"></span>la rete della societ\u00e0 di re<span class=\"_ _29\"></span>visione  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Corrispettivi alla societ\u00e0 di revisione 1.540  349  1.191  8.<span class=\"ff5f ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5c\">Informativa sulle opera<span class=\"_ _0\"></span>zioni con parti correlate<span class=\"_ _0\"></span> </span></span>Le op<span class=\"_ _0\"></span>erazioni <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>parti <span class=\"_ _0\"></span>correlate, iv<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>incluse <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>operazioni <span class=\"_ _0\"></span>infragruppo, <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>qualificabili <span class=\"_ _0\"></span>n\u00e9 <span class=\"_ _0\"></span>come atipiche n\u00e9 come inusuali, rientrando nell\u2019ordinario cor<span class=\"_ _29\"></span>so degli affari delle societ\u00e0 <span class=\"_ _29\"></span>del Gruppo e sono regolate applicando <span class=\"_ _23\"></span>normali <span class=\"_ _23\"></span>condizioni, <span class=\"_ _23\"></span>determinate <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>parametri <span class=\"_ _23\"></span>standard <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>condizioni <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>mercato. <span class=\"_ _23\"></span>Non <span class=\"_ _23\"></span>vi <span class=\"_ _22\"></span>sono state <span class=\"_ _2b\"></span>nel corso <span class=\"_ _2b\"></span>del 2022 <span class=\"_ _2b\"></span>operazioni <span class=\"_ _29\"></span>qualificabili <span class=\"_ _29\"></span>come <span class=\"_ _2b\"></span>di maggior <span class=\"_ _2b\"></span>rilevanza <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>sensi della <span class=\"_ _2b\"></span>\u201cProcedura in <span class=\"_ _2b\"></span>materia di operazioni con parti correlate\u201d. <span class=\"ff5c\"> </span>9.<span class=\"ff5f ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5c\">Impegni e garan<span class=\"_ _0\"></span>zie </span></span>Al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>impegno <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>investimenti <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>immob<span class=\"_ _0\"></span>ilizzazioni <span class=\"_ _22\"></span>materiali <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro 5,4 milioni. Al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre <span class=\"_ _23\"></span>20<span class=\"_ _0\"></span>22, <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>essere <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span>a <span class=\"_ _28\"></span>lettera <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>patronage<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>sottoscritta <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>KM<span class=\"_ _0\"></span>E <span class=\"_ _23\"></span>SE <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>beneficio <span class=\"_ _23\"></span>della societ\u00e0 <span class=\"_ _2a\"> </span>KME <span class=\"_ _2a\"> </span>Metale <span class=\"_ _2a\"> </span>S. <span class=\"_ _2a\"> </span>Z.o.o.; <span class=\"_ _2a\"> </span>allo <span class=\"_ _2a\"> </span>stato, <span class=\"_ _2d\"> </span>in <span class=\"_\"> </span>virt\u00f9 <span class=\"_ _2d\"> </span>dello<span class=\"_ _0\"></span> <span class=\"_\"> </span>sviluppo <span class=\"_ _2a\"> </span>dell'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_\"> </span>delle <span class=\"_ _2d\"> </span>ris<span class=\"_ _0\"></span>orse <span class=\"_ _2a\"> </span>finanziarie dell'azienda, \u00e8 improbabile che tale lette<span class=\"_ _0\"></span>ra venga utilizzata. Nel dicembre <span class=\"_ _0\"></span>2015<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>Group <span class=\"_ _0\"></span>SpA <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>concesso la <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>opria disponib<span class=\"_ _0\"></span>ilit\u00e0 al <span class=\"_ _0\"></span>rilascio <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>garanzia di<span class=\"_ _0\"></span> massimi <span class=\"_ _2b\"></span>Eu<span class=\"_ _0\"></span>ro <span class=\"_ _29\"></span>5,0 <span class=\"_ _2b\"></span>milion<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>a favore <span class=\"_ _2b\"></span>di Associaz<span class=\"_ _29\"></span>ione <span class=\"_ _29\"></span>Dynamo <span class=\"_ _2b\"></span>nell\u2019<span class=\"_ _0\"></span>ambito <span class=\"_ _29\"></span>dell\u2019erogazione <span class=\"_ _2b\"></span>di un <span class=\"_ _2b\"></span>mutuo fondiario per la <span class=\"_ _29\"></span>ristrutturazione di <span class=\"_ _29\"></span>alcuni <span class=\"_ _29\"></span>immobili di <span class=\"_ _29\"></span>Limestre. Il <span class=\"_ _2b\"></span>mutuo \u00e8 peraltro <span class=\"_ _29\"></span>gi\u00e0 assistito da <span class=\"_ _29\"></span>altre <span class=\"_ _29\"></span>garanzie reali; <span class=\"_ _29\"></span>al 31 dicembre 2022 ammonta a Euro <span class=\"_ _0\"></span>1,5 milioni. Allegati alle note esplicative: Prospetto <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>raccordo <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>risultato <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>capogruppo <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>Group <span class=\"_ _22\"></span>SpA <span class=\"_ _0\"></span>ed <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>risultato <span class=\"_ _22\"></span>consolidato <span class=\"_ _22\"></span>di spettanza <span class=\"ff5e\">dell\u2019esercizio </span><span class=\"ls1\">202</span>2: (in migliaia di Euro) 31 dic 2022 Risultato bilancio separ<span class=\"_ _29\"></span>ato della Capogruppo 5.174  Risultato di competenza <span class=\"_ _29\"></span>delle societ\u00e0 consolidate 33.129  Annullamento effetto IFRS 16 su <span class=\"_ _29\"></span>operazioni infragruppo 18  Annullamento effetto IFRS 9 <span class=\"_ _29\"></span>su operazioni infragruppo 46  Riclassifica immobile a immobil<span class=\"_ _29\"></span>izzazione material<span class=\"_ _29\"></span>e (198) Altre scritture di consolidato (2.711) Risultato netto consolida<span class=\"_ _29\"></span>to  35.458  di cui Risultato <span class=\"ff5e\">dell\u2019esercizi<span class=\"_ _29\"></span>o<span class=\"ff5a\"> attribuibile ai terzi </span></span>2 <span class=\"ls0\"> </span>di cui Risultato <span class=\"ff5e\">dell\u2019esercizi<span class=\"_ _29\"></span>o<span class=\"ff5a\"> attribuibile agli azionisti dell<span class=\"_ _29\"></span>a controllante </span></span>35.456  Prospetto <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>raccordo <span class=\"_ _29\"></span>tra <span class=\"_ _2b\"></span>il patrimonio <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>capogruppo <span class=\"_ _2b\"></span>KME Group <span class=\"_ _2b\"></span>SpA <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>patrimonio <span class=\"_ _29\"></span>consolidato di spettanza al 31 dicembre 20<span class=\"_ _0\"></span>22: (importi in migliaia di Euro) 31 dic 2022 Patrimonio netto della Capo<span class=\"_ _29\"></span>gruppo (incluso il risultato d<span class=\"ff5b\">\u2019esercizio</span>)<span class=\"_ _29\"></span>              494.292    Iscrizione del patrimonio nett<span class=\"_ _29\"></span>o delle partecipazioni consolidate 766.451  Eliminazioni valore di carico parteci<span class=\"_ _29\"></span>pazioni consolidate integralmente<span class=\"_ _29\"></span> (1.085.063) Differenza tra patrimoni<span class=\"_ _29\"></span>o netto delle societ\u00e0 consolidate e<span class=\"_ _29\"></span> loro valore di iscrizione 365.260  Quota di patrimonio netto dell<span class=\"_ _29\"></span>e societ\u00e0 consolidate da attribui<span class=\"_ _29\"></span>re ai terzi (3.324) Rettifiche di consolidament<span class=\"_ _29\"></span>o (2.625) Patrimonio netto di pertinen<span class=\"_ _29\"></span>za degli azionisti della C<span class=\"_ _29\"></span>apogruppo              534.991    ATTESTAZIONE SUL BILANCIO <span class=\"_ _0\"></span>CONSOLIDATO AI SENSI DELL\u2019<span class=\"_ _0\"></span>ART. 154 BIS,<span class=\"_ _0\"></span><span class=\"ff65\"> </span>COMMA 5 DEL D. LGS. 58/<span class=\"_ _0\"></span>98 E SUCCESSIVE MODIFICHE E INT<span class=\"_ _0\"></span>EGRAZIONI<span class=\"_ _0\"></span> 1.<span class=\"ff67 ls0\"> <span class=\"_ _44\"> </span><span class=\"ff66\">I <span class=\"_ _22\"></span>sottoscritti <span class=\"_ _23\"></span>Vincenzo <span class=\"_ _22\"></span>Ma<span class=\"_ _0\"></span>nes, <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>qualit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>Presidente, <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>Giuseppe <span class=\"_ _22\"></span>Mazza, <span class=\"_ _22\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>qualit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>Dirigente </span></span>Preposto <span class=\"_ _22\"></span>alla <span class=\"_ _23\"></span>redazione <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>documenti <span class=\"_ _22\"></span>contabil<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>societari <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Group <span class=\"_ _23\"></span>S.p.A., <span class=\"_ _22\"></span>attestano, <span class=\"_ _23\"></span>tenuto anche <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>quanto <span class=\"_ _28\"></span>previsto <span class=\"_ _23\"></span>dall\u2019art. <span class=\"_ _23\"></span>154<span class=\"ff69\">bis<span class=\"ff66\">, <span class=\"_ _28\"></span>commi <span class=\"_ _23\"></span>3 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>4, <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>decreto <span class=\"_ _23\"></span>legislativo <span class=\"_ _23\"></span>24 <span class=\"_ _23\"></span>febbraio </span></span>1998, n. 58: \u2022<span class=\"ff67\"> <span class=\"_ _84\"> </span><span class=\"ff68 fs2\">l\u2019adeguatezza in relazione alle caratteristiche dell\u2019impresa e <span class=\"_ _0\"></span><span class=\"ff66\"> </span></span></span>\u2022<span class=\"ff67\"> <span class=\"_ _84\"> </span><span class=\"ff68 fs2\">l\u2019effettiva applicazione<span class=\"ff66\"> </span></span></span>delle <span class=\"_ _2c\"></span>procedure <span class=\"_ _2c\"></span>amministrative <span class=\"_ _2c\"></span>e <span class=\"_ _2c\"></span>contabili <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>formazione <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"> </span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>consolidato <span class=\"_ _2c\"></span>nel <span class=\"_ _2c\"></span>corso dell\u2019esercizio 20<span class=\"ff66\">22. </span>2.<span class=\"ff67 ls0\"> <span class=\"_ _44\"> </span><span class=\"ff66\">Al riguardo si segnala che no<span class=\"_ _0\"></span>n sono emersi aspetti di rilievo.  </span></span>3.<span class=\"ff67 ls0\"> <span class=\"_ _44\"> </span><span class=\"ff66\">Si attesta, inoltre, che: </span></span>3.1. <span class=\"_ _46\"> </span>il bilancio consolidato:  a)<span class=\"ff67 ls0\"> <span class=\"_ _0\"></span><span class=\"ff66\">\u00e8 <span class=\"_ _2d\"> </span>redatto <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"> </span>confo<span class=\"_ _0\"></span>rmit\u00e0 <span class=\"_ _2d\"> </span>ai <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipi <span class=\"_ _2d\"> </span>contabili <span class=\"_ _2c\"> </span>internazionali <span class=\"_ _2d\"> </span>applicabili <span class=\"_ _2d\"> </span>riconosciuti <span class=\"_ _2d\"> </span>nella </span></span>Co<span class=\"ls0\">munit\u00e0 <span class=\"_ _22\"></span>europea <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>regolamento <span class=\"_ _22\"></span>(CE) <span class=\"_ _22\"></span>n. <span class=\"_ _23\"></span>1606/2002 <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>Parlamento <span class=\"_ _22\"></span>E<span class=\"_ _0\"></span>uropeo <span class=\"_ _22\"></span>e </span>del Consiglio del 19 luglio 2002<span class=\"_ _0\"></span>; b)<span class=\"ff67 ls0\"> <span class=\"_ _29\"></span><span class=\"ff66\">corrisponde alle risultanze dei libri e d<span class=\"_ _0\"></span>elle scritture contabili; </span></span>c)<span class=\"ff67 ls0\"> <span class=\"_ _0\"></span><span class=\"ff66\">\u00e8 <span class=\"_ _23\"></span>idoneo <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>fornire <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>rappresentazione <span class=\"_ _22\"></span>verit<span class=\"_ _0\"></span>iera <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>corretta <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>situazione <span class=\"_ _23\"></span>patrimoniale, </span></span>economic<span class=\"ff68\">a <span class=\"_ _8e\"> </span>e<span class=\"_ _0\"></span> <span class=\"_ _8e\"> </span>fin<span class=\"_ _0\"></span>anziaria <span class=\"_ _8e\"> </span>dell\u2019<span class=\"_ _0\"></span>emittente <span class=\"_ _43\"> </span>e <span class=\"_ _8e\"> </span>dell\u2019insieme <span class=\"_ _43\"> </span>delle <span class=\"_ _43\"> </span>imprese <span class=\"_ _43\"> </span>incluse <span class=\"_ _43\"> </span>nel </span>consolidamento; 3.2 <span class=\"_ _45\"> </span><span class=\"ff68\">la <span class=\"_ _28\"> </span>Relazione <span class=\"_ _28\"> </span>sulla <span class=\"_ _28\"> </span>gestione <span class=\"_ _28\"> </span>comprende<span class=\"_ _0\"></span> <span class=\"_ _28\"> </span>un\u2019analisi <span class=\"_ _28\"> </span>attendibile <span class=\"_ _28\"> </span>dell\u2019andamento <span class=\"_ _28\"> </span>e <span class=\"_ _2c\"> </span>del <span class=\"_ _28\"> </span>risultato </span>della <span class=\"_ _0\"></span>gestione <span class=\"_ _22\"></span>nonch\u00e9 <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>situazione <span class=\"_ _22\"></span>dell\u2019emittente <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dell\u2019insieme <span class=\"_ _22\"></span>del<span class=\"ff66\">le <span class=\"_ _22\"></span>imprese <span class=\"_ _22\"></span>incluse <span class=\"_ _0\"></span>nel </span>consolidamento, unitamente alla descrizione dei pr<span class=\"_ _0\"></span>incipali rischi e incertezze cui \u00e8 espo<span class=\"_ _0\"></span>sto. Milano, 28 marzo 2023 Il Presidente Il Dirigente Preposto alla redazione dei documenti contabili societari ______________________ __________________________<span class=\"_ _0\"></span> f.to Vincenzo Manes<span class=\"ff66\"> </span>f.to Giuseppe Mazza<span class=\"ff66\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__7": {
   "value": "Societ\u00e0 per Azioni",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__10": {
   "value": "Italia",
   "dimensions": {
    "concept": "ifrs-full:PrincipalPlaceOfBusiness",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__8": {
   "value": "Italia",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__6": {
   "value": "Italia",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__9": {
   "value": "Foro Buonaparte 44 \u2013 Milano.",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__11": {
   "value": "KME Group (\u201cKME\u201d, la \u201cSociet\u00e0\u201d o la \u201cCapogruppo\u201d) \u00e8 una holding la cui attivit\u00e0 \u00e8 stata indirizzata, fino al 22 aprile 2022, alla gestione dei beni e delle partecipazioni in portafoglio ed \u00e8 stata orientata da un\u2019ottica imprenditoriale dinamica focalizzata sulla generazione di cassa e sull\u2019accrescimento del valore nel tempo degli investimenti, anche attraverso cessioni funzionali alle strategie di sviluppo. In data 22 aprile 2022, il Consiglio di Amministrazione  della Societ\u00e0 ha deliberato di adottare una strategia volta a concentrare la propria attivit\u00e0 sulla gestione industriale della partecipazione in KME SE ed in particolare nel settore dei laminati di rame (\u201cNuova Strategia\u201d); tale investimento ha quindi assunto valenza di partecipazione duratura. Per gli altri investimenti \u00e8 stato definito di individuare le migliori opportunit\u00e0 di valorizzazione, attraverso la dismissione a terzi o l\u2019assegnazione ai soci.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__14": {
   "value": "In linea con la Nuova Strategia, la Societ\u00e0 dal 23 settembre 2022 ha modificato la propria denominazione sociale da Intek Group SpA a KME Group SpA",
   "dimensions": {
    "concept": "ifrs-full:ExplanationOfChangeInNameOfReportingEntityOrOtherMeansOfIdentificationFromEndOfPrecedingReportingPeriod",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__5": {
   "value": "KME Group SpA",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__15": {
   "value": "Il <span class=\"ls0\">bilancio consolidato al 31 dicembre 2<span class=\"_ _0\"></span>022 <span class=\"_ _0\"></span><span class=\"ff5d\">(il \u201cBilancio Consolidato\u201d</span></span>) <span class=\"_ _0\"></span><span class=\"ls0\">\u00e8 stato oggetto di app<span class=\"_ _0\"></span>rovazione </span>da <span class=\"_ _23\"></span>parte <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>Consiglio <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>Amministrazione <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span><span class=\"ls1\">28</span> <span class=\"_ _22\"></span>marzo <span class=\"_ _23\"></span>2023 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>verr\u00e0 <span class=\"_ _23\"></span>pubblicato <span class=\"_ _22\"></span>nei <span class=\"_ _23\"></span>previsti <span class=\"_ _23\"></span>termini <span class=\"_ _22\"></span>di legge e di regolamento.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuthorisationOfFinancialStatementsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__13": {
   "value": "Quattroduedue Holding B.V.",
   "dimensions": {
    "concept": "ifrs-full:NameOfUltimateParentOfGroup",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__12": {
   "value": "Quattroduedue SpA",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__17": {
   "value": "2.1.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Qualifica di entit\u00e0 di investimento <span class=\"_ _0\"></span> Il <span class=\"_ _22\"></span>sopra <span class=\"_ _22\"></span>descritto <span class=\"_ _23\"></span>cambiamento <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>strategia, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>compo<span class=\"_ _0\"></span>rta <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>focalizzazione <span class=\"_ _22\"></span>dell<span class=\"_ _0\"></span>\u2019attivit\u00e0 <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>gestione<span class=\"_ _0\"></span> industriale <span class=\"_ _2c\"> </span>dell\u2019i<span class=\"ff56\">nvestimento <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"></span>SE, <span class=\"_ _2c\"></span>ha <span class=\"_ _2c\"></span>fatto <span class=\"_ _2c\"></span>venir <span class=\"_ _2c\"> </span>meno <span class=\"_ _2c\"> </span>la <span class=\"_ _2c\"> </span>finalit\u00e0 <span class=\"_ _2c\"> </span>com<span class=\"_ _0\"></span>merciale <span class=\"_ _28\"></span>dell<span class=\"_ _0\"></span>a <span class=\"_ _2c\"></span>Societ\u00e0 <span class=\"_ _2c\"></span>volta </span>all\u2019ottenimento <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>rendimenti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>azionisti <span class=\"_ _23\"></span>esclusivamente <span class=\"_ _22\"></span>dall<span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>rivalutazione <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>capitale <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>dai <span class=\"_ _23\"></span>proventi degli investimenti; <span class=\"_ _2b\"></span>da qui, <span class=\"_ _2b\"></span>peraltro<span class=\"_ _0\"></span>, <span class=\"_ _29\"></span>deriva <span class=\"_ _29\"></span>anche <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>veni<span class=\"ff5d\">r meno <span class=\"_ _2b\"></span>dell\u2019<span class=\"_ _0\"></span>utilizzo del <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _29\"></span>come <span class=\"_ _29\"></span>base <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>calcolo </span></span></span>e di valutazione interna degli investimenti.<span class=\"_ _0\"></span> Queste <span class=\"_ _22\"></span>modifiche <span class=\"_ _23\"></span>hanno <span class=\"_ _23\"></span>fatto <span class=\"_ _22\"></span>perdere <span class=\"_ _22\"></span>alla <span class=\"_ _23\"></span>Societ\u00e0 <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>requisiti, <span class=\"_ _22\"></span>previsti <span class=\"_ _22\"></span>dai <span class=\"_ _23\"></span>paragrafi <span class=\"_ _22\"></span>27<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>28 <span class=\"_ _22\"></span>dell\u2019IFRS 10, <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>alifica <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span><span class=\"ff5d\">\u201c</span>entit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>investimento<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d</span><span class=\"lsb\">, <span class=\"_ _0\"></span></span>sulla <span class=\"_ _22\"></span>base <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>erano <span class=\"_ _0\"></span>stati <span class=\"_ _22\"></span>redatti <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>precedenti <span class=\"_ _22\"></span>bilanci <span class=\"_ _0\"></span>a partire da quello al 31 dicembre 2014.<span class=\"_ _0\"></span> La <span class=\"_ _0\"></span>Societ\u00e0 <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>cessato,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>quindi, <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>essere <span class=\"_ _0\"></span>\u201centit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>investimento<span class=\"_ _0\"></span>\u201d <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>decorrere <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>cambio di <span class=\"_ _28\"></span>stato <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>verificato <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>q<span class=\"_ _0\"></span>uindi <span class=\"_ _28\"></span>dal <span class=\"_ _28\"></span>22 <span class=\"_ _2c\"></span>aprile <span class=\"_ _28\"></span>2022. <span class=\"_ _28\"></span>Ci\u00f2 <span class=\"_ _28\"></span>ha <span class=\"_ _28\"></span>comp<span class=\"_ _0\"></span>ortato, <span class=\"_ _28\"></span>pertanto, <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>mod<span class=\"_ _0\"></span>ifica <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>criteri <span class=\"_ _28\"></span>di valutazione degli investimenti <span class=\"_ _0\"></span>partecipativi (voce dell\u2019attivo <span class=\"_ _0\"></span>\u201cInvestimenti in <span class=\"_ _0\"></span>partecipazioni e quote di <span class=\"_ _0\"></span>fondi\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> </span>presente sino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>bilancio <span class=\"_ _0\"></span>consolidato <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre 202<span class=\"_ _0\"></span>1<span class=\"_ _0\"></span>) <span class=\"_ _0\"></span>per i <span class=\"_ _0\"></span>quali <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>viene <span class=\"_ _0\"></span>sostituito <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>criterio del <span class=\"_ _22\"></span>costo; <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>riguardo, <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value</span> <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>perdita <span class=\"_ _0\"></span>della <span class=\"_ _23\"></span>qualifica <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>entit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>investimento<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>rappresenta <span class=\"_ _22\"></span>il nuovo <span class=\"_ _2d\"> </span>costo. <span class=\"_ _2d\"> </span>Per <span class=\"_ _2c\"> </span>maggiori <span class=\"_ _2d\"> </span>dettagli, <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>l<span class=\"_ _29\"></span>\u2019ulteriore <span class=\"_ _2d\"> </span>informativa <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>tabile <span class=\"_ _2d\"> </span>ai <span class=\"_ _2c\"> </span>sensi <span class=\"_ _2d\"> </span>dell\u2019IFRS <span class=\"_ _2d\"> </span>12, <span class=\"_ _2d\"> </span>si <span class=\"_ _2c\"> </span>r<span class=\"_ _22\"></span><span class=\"ff56\">invia <span class=\"_ _2d\"> </span>al </span>commento relativo alla voce di bilancio.<span class=\"_ _0\"></span> Il <span class=\"_ _2b\"></span>presente <span class=\"_ _2b\"></span>Bilancio <span class=\"_ _2b\"></span>Consolidato <span class=\"_ _2b\"></span>rappresenta <span class=\"_ _2b\"></span>pertanto, <span class=\"_ _2b\"></span>dopo <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>esercizi, <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>primo <span class=\"_ _2b\"></span>bilancio <span class=\"_ _2b\"></span>del <span class=\"_ _3d\"></span>Grup<span class=\"_ _0\"></span>po in <span class=\"_ _2c\"></span>cui <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>Capogruppo <span class=\"_ _2c\"> </span>non <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>qualifica <span class=\"_ _28\"></span>quale <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>investimento<span class=\"_ _0\"></span>. <span class=\"_ _2d\"> </span>Pertanto, <span class=\"_ _28\"></span>nella <span class=\"_ _2c\"> </span>redazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>presente Bilancio <span class=\"_ _28\"></span>C<span class=\"ff5d\">onsolidato<span class=\"_ _0\"></span>, <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>decorrere <span class=\"_ _28\"> </span>dalla <span class=\"_ _2c\"> </span>data <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>\u201ccambio <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>stato\u201d, <span class=\"_ _28\"></span>ha <span class=\"_ _28\"> </span>avu<span class=\"_ _0\"></span>to <span class=\"_ _28\"></span>luogo <span class=\"_ _28\"> </span>la <span class=\"_ _2c\"> </span>disapplicazione <span class=\"_ _28\"></span>delle </span>previsioni <span class=\"_ _2b\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>10<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>relative <span class=\"_ _2b\"></span>alle <span class=\"_ _29\"></span><span class=\"ff5a\">investment <span class=\"_ _2b\"></span>entities<span class=\"ff56\"> <span class=\"_ _29\"></span>che <span class=\"_ _2b\"></span>comportavano <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>consolidamento </span></span>degli investimenti <span class=\"_ _2b\"></span>detenuti in <span class=\"_ _2b\"></span>societ\u00e0 controllate non <span class=\"_ _2b\"></span>strumentali e <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>loro<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>valutazione <span class=\"_ _29\"></span>al <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> con <span class=\"_ _2b\"></span>impatto </span></span>a conto economico ai sensi dell\u2019IFRS 9, come previst<span class=\"_ _0\"></span>o dal paragrafo 31 dell\u2019IFRS 10. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Si <span class=\"_\"> </span>precisa <span class=\"_ _2a\"> </span>che, <span class=\"_\"> </span>ai <span class=\"_ _2a\"> </span>sensi <span class=\"_\"> </span>del <span class=\"_ _2a\"> </span>paragrafo <span class=\"_\"> </span>30 <span class=\"_ _2a\"> </span>dell\u2019IFRS <span class=\"_\"> </span>10, <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>cambiamento <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>stato <span class=\"_\"> </span>\u00e8 <span class=\"_ _2a\"> </span>contabilizzato prospetticamente a partire dalla data in cui <span class=\"_ _0\"></span>detto cambiamento si \u00e8 verificato.<span class=\"_ _0\"></span> Il <span class=\"_ _2c\"> </span><span class=\"ls0\">pr<span class=\"_ _0\"></span>esente <span class=\"_ _2d\"> </span>Bilancio <span class=\"_ _2c\"></span>Consolidato<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>evede <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>indi <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>consolidamento <span class=\"_ _2d\"> </span>integrale <span class=\"_ _2c\"></span>del<span class=\"_ _0\"></span>le <span class=\"_ _2d\"> </span>partecipazioni <span class=\"_ _2c\"> </span>di </span>controllo, <span class=\"_ _0\"></span>riflettendo <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>effetti <span class=\"_ _0\"></span>contabil<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>menzionato <span class=\"_ _22\"></span>\u201ccambio <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>stato\u201d. <span class=\"_ _22\"></span>Si <span class=\"_ _0\"></span>rimanda <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>paragrafo <span class=\"_ _0\"></span>\u201cPrin<span class=\"_ _0\"></span>cipi di consoli<span class=\"_ _0\"></span>damento\u201d per <span class=\"_ _0\"></span>ulteriori <span class=\"_ _0\"></span>informazioni <span class=\"_ _0\"></span>sull\u2019area <span class=\"_ _0\"></span>di consoli<span class=\"_ _0\"></span>damento al <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022, <span class=\"_ _22\"></span><span class=\"ff56\">ampliatasi <span class=\"_ _0\"></span>in </span>maniera significativa rispetto <span class=\"_ _0\"></span>a quella al 31 dicembre 2021.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__18-1": {
   "value": "2.2.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Criteri di redazione Il <span class=\"ls0\">bilancio consolidato <span class=\"_ _0\"></span>al 31 dicembre 2022 <span class=\"_ _0\"></span><span class=\"ff5d\">\u00e8 stato redatto ai sensi <span class=\"_ _0\"></span>dell\u2019art. 154 <span class=\"ff5a\">ter</span></span> del <span class=\"_ _0\"></span>D. Lgs. 58/19<span class=\"_ _0\"></span>98 </span>ed <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>conforme <span class=\"_ _2b\"></span>agli <span class=\"_ _29\"></span><span class=\"ff5a\">International <span class=\"_ _2b\"></span>Financial <span class=\"_ _29\"></span>Reporting <span class=\"_ _2b\"></span>Standards<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>(IFRS) <span class=\"_ _29\"></span>emanati <span class=\"_ _2b\"></span>da<span class=\"ff5d ls9\">ll\u2019</span><span class=\"ff5a\">Internationa<span class=\"_ _0\"></span>l <span class=\"_ _2b\"></span>Accounting </span></span></span>Standards <span class=\"_ _28\"></span>Board <span class=\"_ _2c\"></span><span class=\"ff5d\">(IASB) <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>ado<span class=\"_ _0\"></span>ttati <span class=\"_ _28\"></span>dalla <span class=\"_ _2c\"> </span>Commissione <span class=\"_ _2c\"> </span>Europea <span class=\"_ _28\"> </span>secondo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>la <span class=\"_ _2c\"> </span>procedura <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>cui <span class=\"_ _2c\"> </span>all\u2019art. <span class=\"_ _28\"></span>6 <span class=\"_ _2c\"> </span>del </span>Regolamento <span class=\"_ _2d\"> </span>(CE) <span class=\"_ _2d\"> </span>n. <span class=\"_ _2a\"> </span>1606/2002 <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Parlamento <span class=\"_ _2d\"> </span>Europeo <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Consiglio <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>19 <span class=\"_ _2d\"> </span>luglio <span class=\"_ _2a\"> </span>2002 <span class=\"_ _2d\"> </span>nonch\u00e9 <span class=\"_ _2d\"> </span>ai provvedimenti emanati in at<span class=\"ff5d\">tuazion<span class=\"_ _0\"></span>e dell\u2019art. 9 del D. Lgs. n. 38/2005.<span class=\"_ _0\"></span></span> Ai <span class=\"_ _2c\"></span>fini <span class=\"_ _2c\"></span>del <span class=\"_ _28\"></span>presente <span class=\"_ _2c\"></span>Bilancio <span class=\"_ _2c\"> </span>Con<span class=\"_ _0\"></span>solidato <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>stati <span class=\"_ _28\"></span>ut<span class=\"_ _0\"></span>ilizzati <span class=\"_ _2c\"></span>dati <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>principi <span class=\"_ _2c\"></span>contabili uniformi e coerenti.  Il <span class=\"_ _28\"></span><span class=\"ls0\">bilancio <span class=\"_ _28\"></span>consolidato <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _28\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>costituito <span class=\"_ _28\"></span>dal <span class=\"_ _2c\"></span>prospetto <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>situazione <span class=\"_ _28\"></span>patrimoniale-</span>finanziaria <span class=\"_ _2a\"> </span>consolidata, <span class=\"_ _2d\"> </span>dal <span class=\"_ _2a\"> </span>prospetto <span class=\"_ _2d\"> </span>dell\u2019utile <span class=\"_\"> </span>(pe<span class=\"_ _29\"></span>rdita) <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>delle <span class=\"_\"> </span>altre <span class=\"_ _2d\"> </span>componenti <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>conto economico complessivo consolidato,<span class=\"_ _0\"></span> dal rendiconto finanziario consolidato, dal p<span class=\"_ _0\"></span>rospetto d<span class=\"_ _0\"></span>elle variazioni del<span class=\"_ _0\"></span> patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>consolidato, <span class=\"_ _22\"></span>nonch\u00e9 <span class=\"_ _23\"></span>dalle <span class=\"_ _22\"></span>relative <span class=\"_ _22\"></span>not<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>esplicative. <span class=\"_ _22\"></span>Le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>realizzare <span class=\"_ _23\"></span>o estinguere <span class=\"_ _2d\"> </span>entro <span class=\"_ _2d\"> </span>dodici <span class=\"_ _2d\"> </span>mesi <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>data <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>riferimento <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>bilancio <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"> </span>detenut<span class=\"_ _0\"></span>e <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>scopo <span class=\"_ _2d\"> </span>di negoziazione sono <span class=\"_ _0\"></span>classificate come corr<span class=\"_ _0\"></span>enti; il conto<span class=\"_ _0\"></span> economico consolidato<span class=\"_ _0\"></span> \u00e8 redatto secondo<span class=\"_ _0\"></span> il metodo <span class=\"_ _0\"></span>dei costi per natura. I <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ospetti <span class=\"_ _23\"></span>contabili <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>note <span class=\"_ _23\"></span>esplicative <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span>bilancio <span class=\"_ _23\"></span>consolidato <span class=\"_ _23\"></span>presentano, <span class=\"_ _23\"></span>oltre <span class=\"_ _22\"></span>agli <span class=\"_ _23\"></span>importi <span class=\"_ _22\"></span>relativi all\u2019esercizio <span class=\"ff56\">di riferimento, anche i <span class=\"_ _0\"></span>c</span>orrispondenti dati di raffront<span class=\"_ _0\"></span>o con l\u2019esercizio precedente. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Si <span class=\"_ _28\"></span>precisa <span class=\"_ _2c\"></span>che <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>saldi <span class=\"_ _28\"></span>co<span class=\"_ _0\"></span>mparativi <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>2021 <span class=\"_ _2c\"></span>non <span class=\"_ _28\"></span>sono <span class=\"_ _2d\"> </span>immediatamente <span class=\"_ _28\"></span>comparabili <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>quelli <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>31 dicembre <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>quanto <span class=\"_ _2d\"> </span>qu<span class=\"_ _0\"></span>esti <span class=\"_ _2d\"> </span>ultimi <span class=\"_ _2d\"> </span>rispecchiano <span class=\"_ _2d\"> </span>l\u2019ampliamento <span class=\"_ _2d\"> </span>dell\u2019area <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>consolidamento <span class=\"_ _2d\"> </span>integ<span class=\"_ _0\"></span><span class=\"ff56\">rale </span>conseguente <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>perdita <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>qualifica <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>investimento<span class=\"_ _0\"></span>, <span class=\"_ _28\"></span>con<span class=\"_ _0\"></span>tabilizzata, <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>sensi <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>paragrafo <span class=\"_ _2c\"></span>30 dell\u2019IFRS <span class=\"_ _3c\"> </span>10, <span class=\"_ _41\"> </span>prospetticamente <span class=\"_ _3c\"> </span>a <span class=\"_ _41\"> </span>par<span class=\"_ _0\"></span>tire <span class=\"_ _3c\"> </span>dalla <span class=\"_ _41\"> </span>data <span class=\"_ _3c\"> </span>in <span class=\"_ _41\"> </span>cui <span class=\"_ _3c\"> </span>detto <span class=\"_ _3c\"> </span>cambiamento <span class=\"_ _3c\"> </span>si <span class=\"_ _41\"> </span>\u00e8 <span class=\"_ _3c\"> </span>verificato <span class=\"_ _41\"> </span>senza<span class=\"_ _0\"></span> rideterminazione dei comparativi.<span class=\"_ _0\"></span> Dal <span class=\"_ _22\"></span>punt<span class=\"_ _0\"></span><span class=\"ff5d\">o <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>vista <span class=\"_ _23\"></span>contabile, <span class=\"_ _22\"></span>l\u2019ampliamento <span class=\"_ _23\"></span>dell\u2019area <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>consolidamento <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>stata <span class=\"_ _22\"></span>effettuata <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>30 <span class=\"_ _23\"></span>aprile </span>2022, prevedendo quindi, <span class=\"_ _29\"></span>ai fini del <span class=\"_ _29\"></span>presente Bilancio Consolidato, il consolidamento dei <span class=\"_ _29\"></span>saldi patrimoniali al 31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>tutte le <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>rientranti<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">nell\u2019area <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>consolidamento<span class=\"_ _0\"></span> e <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>flussi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>conto <span class=\"_ _0\"></span>econo<span class=\"_ _0\"></span>mico e </span>finanziari relativi agli <span class=\"_ _2b\"></span>otto<span class=\"_ _0\"></span> <span class=\"ff5d\">me<span class=\"_ _29\"></span>si da <span class=\"_ _29\"></span>maggio a <span class=\"_ _29\"></span>dicembre 2022 <span class=\"_ _2b\"></span>per le entit\u00e0 <span class=\"_ _29\"></span>confluite nell\u2019area <span class=\"_ _2b\"></span>di consolidamento </span>del Gruppo, a seguito del <span class=\"_ _0\"></span>venir meno della qualifica di <span class=\"ff5e\">\u201c</span>entit<span class=\"_ _0\"></span>\u00e0 di investimento<span class=\"ff5e\">\u201d</span>. Per <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>composizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>quanto <span class=\"_ _2d\"> </span>indicato <span class=\"_ _2d\"> </span>nel <span class=\"_ _2d\"> </span>paragrafo \u201cPrincipi di consolidamento\u201d<span class=\"_ _0\"></span><span class=\"ff56\">. </span>Con <span class=\"_ _2c\"> </span>riferimento <span class=\"_ _2d\"> </span>ai <span class=\"_ _2c\"></span>prospetti <span class=\"_ _2c\"> </span>contabili <span class=\"_ _2d\"> </span>consolidati <span class=\"_ _2c\"></span>si <span class=\"_ _2c\"></span>evidenzia <span class=\"_ _2d\"> </span>che, <span class=\"_ _2c\"></span>rispetto <span class=\"_ _2c\"></span>a <span class=\"_ _2d\"> </span>quelli <span class=\"_ _2c\"></span>presentati <span class=\"_ _2c\"></span>nella relazione <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>annu<span class=\"ff5d\">ale <span class=\"_ _22\"></span>2021<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>stati <span class=\"_ _22\"></span>adeguati <span class=\"_ _22\"></span>(si <span class=\"_ _23\"></span>rimanda <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quanto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>indicato <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>paragrafo <span class=\"_ _22\"></span>\u201cBase <span class=\"_ _23\"></span>di </span>presentazione\u201d) <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>accogliere <span class=\"_ _2d\"> </span>le <span class=\"_\"> </span>voci <span class=\"_ _2a\"> </span>tipiche <span class=\"_ _2d\"> </span>di <span class=\"_\"> </span>un\u2019impresa <span class=\"_ _2d\"> </span>industriale <span class=\"_\"> </span>che <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2a\"> </span>non <span class=\"_ _2a\"> </span>erano rappresentate nei bilanci del Gruppo <span class=\"_ _0\"></span>(n\u00e9 della Capogruppo) in quanto n<span class=\"_ _0\"></span>on applicabili. Il <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>esente <span class=\"_ _23\"></span>Bilancio <span class=\"_ _22\"></span>Consolidato <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>redatto <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>presuppo<span class=\"_ _0\"></span>sto <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>continuit\u00e0 <span class=\"_ _23\"></span>aziendale, <span class=\"_ _22\"></span>secondo <span class=\"_ _23\"></span>quanto previsto <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>principio <span class=\"_ _28\"></span>contabile <span class=\"_ _28\"></span>IAS <span class=\"_ _23\"></span>1<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>rispetto <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>covenant <span class=\"_ _28\"></span>finanziari; <span class=\"_ _23\"></span>le <span class=\"_ _28\"></span>considerazioni <span class=\"_ _28\"></span>relative <span class=\"_ _28\"></span>alla continuit\u00e0 aziendale <span class=\"_ _2b\"></span>sono state <span class=\"_ _29\"></span>svolte <span class=\"_ _29\"></span>in relaz<span class=\"_ _29\"></span>ione <span class=\"_ _29\"></span>agli effetti <span class=\"_ _2b\"></span>del conflitto <span class=\"_ _29\"></span>in corso <span class=\"_ _2b\"></span>tra Russia <span class=\"_ _2b\"></span>e Ucraina <span class=\"_ _29\"></span>nonch\u00e9 delle conseguenze della pandemia Covid<span class=\"_ _0\"></span>-19 che continuano<span class=\"_ _0\"></span> a pesare sulle prospettive economiche mondiali.<span class=\"_ _0\"></span> Nella redazione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Bilancio <span class=\"_ _0\"></span>Consolidato<span class=\"_ _0\"></span> gli <span class=\"_ _0\"></span>Amministratori <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>principio della <span class=\"_ _3c\"> </span>competenza, <span class=\"_ _3c\"> </span>della <span class=\"_ _3c\"> </span>comprensibilit\u00e0, <span class=\"_ _3c\"> </span>significativit\u00e0, <span class=\"_ _3c\"> </span>rilevanza, <span class=\"_ _3c\"> </span>attendibilit\u00e0, <span class=\"_ _3c\"> </span>neutralit\u00e0, <span class=\"_ _3c\"> </span>prudenza <span class=\"_ _3c\"> </span>e comparabilit\u00e0 <span class=\"_ _23\"></span>ed <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>applicato <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>medesimi <span class=\"_ _22\"></span>principi <span class=\"_ _23\"></span>adottati <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>redazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>bi<span class=\"_ _0\"></span>lancio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>consolidato <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 dicembre <span class=\"ls1\">2021<span class=\"lsb\">, <span class=\"_ _29\"></span><span class=\"ls0\">fatto salvo <span class=\"_ _29\"></span>quanto indicato <span class=\"_ _29\"></span>nel paragrafo <span class=\"_ _29\"></span>precedente in <span class=\"_ _29\"></span>merito agli <span class=\"_ _29\"></span>investimenti partecipativi e </span></span></span>fatta eccezione per i principi contabili entrati in vi<span class=\"_ _0\"></span>gore al 1\u00b0 gennaio 2022. <span class=\"_ _0\"></span> Per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>dettaglio <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>principi <span class=\"_ _2b\"></span>contabili, <span class=\"_ _2b\"></span>emendamenti <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>interpretazioni <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>nuova <span class=\"_ _2b\"></span>applicazione <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>Gruppo, la <span class=\"_ _0\"></span>cui <span class=\"_ _22\"></span>applicazione <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>comportato <span class=\"_ _22\"></span>effetti <span class=\"_ _0\"></span>sul <span class=\"_ _22\"></span>patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>risultato <span class=\"_ _22\"></span>dell\u2019esercizio,<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>rimanda <span class=\"_ _22\"></span>al </span>paragrafo <span class=\"ff5d\">\u201cPrincipi contabili di nuova applicazion<span class=\"_ _0\"></span>e\u201d</span>. Il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>ancora <span class=\"_ _22\"></span>applicato <span class=\"_ _22\"></span>quei <span class=\"_ _23\"></span>principi <span class=\"_ _0\"></span>contabili, <span class=\"_ _22\"></span>elencati <span class=\"_ _22\"></span>successiv<span class=\"_ _0\"></span>amente <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>paragrafo <span class=\"_ _22\"></span>2.<span class=\"_ _0\"></span><span class=\"lsf\">10</span>, che, <span class=\"_ _28\"></span>pur <span class=\"_ _2c\"></span><span class=\"ls5\">se <span class=\"_ _2c\"></span></span>emanati <span class=\"_ _28\"></span>dallo <span class=\"_ _2c\"></span>IASB, <span class=\"_ _28\"></span>hanno <span class=\"_ _2c\"></span>data <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>decorrenza <span class=\"_ _2c\"></span>successiva <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>quella <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>riferimento <span class=\"_ _2c\"></span>del <span class=\"_ _28\"></span>presen<span class=\"_ _0\"></span>te Bilancio Consolidato <span class=\"ls1\">o </span>non hanno ancora completato<span class=\"_ _0\"></span> il processo di adozione da parte del<span class=\"_ _0\"></span><span class=\"ff5d\">l\u2019Unione Europea.<span class=\"_ _0\"></span></span>  Gli accadimenti e le operazioni aziendali sono<span class=\"_ _0\"></span> rilevati e rappresentati in conformit\u00e0 alla loro sostanza e realt\u00e0 economica e non solamente second<span class=\"_ _0\"></span>o la loro forma legale.<span class=\"_ _0\"></span> Apposite note <span class=\"_ _0\"></span>esplicative presenti <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span><span class=\"ff5a\">Relazione <span class=\"_ _0\"></span><span class=\"ff5e\">sull\u2019andamento d<span class=\"_ _0\"></span></span>ella gestione</span> <span class=\"_ _0\"></span>illustrano contenuto <span class=\"_ _0\"></span>e significato <span class=\"_ _23\"></span>degli <span class=\"_ _28\"></span>indicatori <span class=\"_ _23\"></span>alternativi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">perfo<span class=\"_ _0\"></span>rmance</span>, <span class=\"_ _23\"></span>se <span class=\"_ _28\"></span>utilizzati, <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>previsti <span class=\"_ _23\"></span>dagli <span class=\"_ _28\"></span>IFRS, <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>linea <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>la raccomandazione del CESR 05 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> 178b pubblicata il 3 novembre 2005.<span class=\"_ _0\"></span> Il <span class=\"_\"> </span>presente <span class=\"_ _2d\"> </span>bi<span class=\"_ _0\"></span>lancio <span class=\"_\"> </span>consolidato <span class=\"_\"> </span>\u00e8 <span class=\"_ _2d\"> </span>espre<span class=\"_ _0\"></span>sso <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>Euro, <span class=\"_ _2a\"> </span>moneta <span class=\"_ _2a\"> </span>funzionale <span class=\"_ _2a\"> </span>della <span class=\"_\"> </span>Capogruppo <span class=\"_\"> </span>e <span class=\"_ _2d\"> </span>d<span class=\"_ _0\"></span>elle principali <span class=\"_ _29\"></span>controllate <span class=\"_ _2b\"></span>consolidate. <span class=\"_ _29\"></span>I <span class=\"_ _2b\"></span>prospetti <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>dati delle <span class=\"_ _2b\"></span>note <span class=\"_ _29\"></span>esplicative, <span class=\"_ _2b\"></span>se <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>diversamente<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>indicato, sono riportati in migliaia di Euro. Inoltre, <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>contesto <span class=\"_ _28\"></span>conseguente <span class=\"_ _2c\"> </span>l\u2019epidemia <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>Covi<span class=\"_ _0\"></span><span class=\"ff56\">d-19 <span class=\"_ _28\"></span>nonch\u00e9 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>conflitto <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>Russia <span class=\"_ _2c\"></span>e </span>Ucraina, <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>redazione <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>Bilancio <span class=\"_ _22\"></span>Con<span class=\"_ _0\"></span>solidato <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>tenuto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>documenti <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>tipo <span class=\"_ _22\"></span>interpretativo <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>di supporto <span class=\"_ _2d\"> </span>all\u2019applicazione <span class=\"_ _2d\"> </span>dei <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipi <span class=\"_ _2d\"> </span>contabili <span class=\"_ _2c\"> </span>emanati <span class=\"_ _2d\"> </span>dagli <span class=\"_ _2d\"> </span>organismi <span class=\"_ _2d\"> </span>regolamentari <span class=\"_ _2c\"> </span>internazion<span class=\"_ _22\"></span><span class=\"ff56\">ali <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>di<span class=\"_ _0\"></span> </span>vigilanza <span class=\"_ _2a\"> </span>italiani <span class=\"_ _2d\"> </span>e <span class=\"_\"> </span>dagli <span class=\"_ _2d\"> </span><span class=\"ff5a\">stan<span class=\"_ _0\"></span>dard <span class=\"_ _2a\"> </span>setter</span> <span class=\"_ _2d\"> </span>(Richia<span class=\"_ _0\"></span>mi <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>attenzione <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>Consob <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span><span class=\"ff5a\">public <span class=\"_ _2a\"> </span>statement</span> <span class=\"_ _2d\"> </span>eman<span class=\"_ _0\"></span>ati dall\u2019ESMA).<span class=\"ff56\"> </span>Il formato elettronico unico di comunicazione p<span class=\"_ _0\"></span>er la redazione le relazioni finanziarie an<span class=\"_ _0\"></span>nuali<span class=\"_ _0\"></span> La <span class=\"_ _28\"> </span>Direttiva <span class=\"_ _2c\"> </span>2004/109/CE <span class=\"_ _2c\"> </span>(la <span class=\"_ _2c\"> </span>\u201cDirettiva <span class=\"_ _2c\"> </span><span class=\"ff5a\">Transparency</span>\u201d) <span class=\"_ _2c\"> </span>modificata <span class=\"_ _2c\"> </span>dalla <span class=\"_ _2c\"> </span>Direttiva <span class=\"_ _2c\"> </span>2013/50/UE <span class=\"_ _28\"> </span>e <span class=\"_ _2c\"> </span>il Regolamento <span class=\"_ _0\"></span>Delegato <span class=\"_ _22\"></span>(UE) <span class=\"_ _0\"></span>2019/815 <span class=\"_ _22\"></span>(il <span class=\"_ _0\"></span>\u201cRegolamento <span class=\"_ _22\"></span>ESEF\u201d) <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>introdotto <span class=\"_ _22\"></span>l\u2019obbligo <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>emittenti di <span class=\"_ _0\"></span>valori <span class=\"_ _22\"></span>mobiliari <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>otati <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>mercati <span class=\"_ _0\"></span>rego<span class=\"_ _0\"></span>lamentati <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019Unione <span class=\"_ _22\"></span>Europea <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>redigere <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria </span>annuale <span class=\"_ _41\"> </span>nel <span class=\"_ _41\"> </span>linguaggio <span class=\"_ _41\"> </span><span class=\"ff5a\">eXtensible <span class=\"_ _41\"> </span>Hypertext <span class=\"_ _41\"> </span>Mar<span class=\"_ _0\"></span>kup <span class=\"_ _41\"> </span>Language<span class=\"_ _0\"></span></span> <span class=\"_ _41\"> </span><span class=\"ff5d\">(\u201cXHTML\u201d), <span class=\"_ _41\"> </span>sulla <span class=\"_ _41\"> </span>base <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span>formato </span>elettronico <span class=\"_ _0\"></span>unico <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>comunicazione <span class=\"_ _0\"></span>ESEF <span class=\"_ _0\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">European <span class=\"_ _0\"></span>Single <span class=\"_ _0\"></span>Electronic <span class=\"_ _22\"></span>Format</span>\u201d), <span class=\"_ _0\"></span>app<span class=\"_ _0\"></span>rovato <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>ESMA. <span class=\"_ _0\"></span>Ci\u00f2 al <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>rendere <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>relazioni <span class=\"_ _22\"></span>finanziarie <span class=\"_ _22\"></span>annuali <span class=\"_ _22\"></span>leggibili <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>da <span class=\"_ _22\"></span>utenti <span class=\"_ _22\"></span>umani <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>dispositivi <span class=\"_ _0\"></span>auto<span class=\"_ _0\"></span>matici <span class=\"_ _22\"></span>e migliorare la comparabilit\u00e0 e l\u2019analisi delle in<span class=\"_ _0\"></span>formazioni incluse nelle relazioni finanziarie annu<span class=\"_ _0\"></span>ali.<span class=\"ff56\"> </span>Pertanto a <span class=\"_ _2b\"></span>partire dall\u2019esercizio <span class=\"_ _2b\"></span>fin<span class=\"_ _0\"></span>anzi<span class=\"ff56\">ario che <span class=\"_ _2b\"></span>inizia il <span class=\"_ _2b\"></span>1\u00b0 gennaio <span class=\"_ _29\"></span>2021 <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>stato <span class=\"_ _29\"></span>previsto <span class=\"_ _29\"></span>che <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>relazione<span class=\"_ _0\"></span> </span>finanziaria annuale <span class=\"_ _29\"></span>venga <span class=\"_ _29\"></span>redatta e <span class=\"_ _2b\"></span>pubblicata nel formato <span class=\"_ _29\"></span>XHTML utilizzando <span class=\"_ _2b\"></span>il linguaggio <span class=\"ff5a\">Inline Extensible </span>Business Reporting Language<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"ff5d\">(\u201ciXBRL\u201d) solo per la marcatura dei p<span class=\"_ _0\"></span>rospetti cont</span>abili con<span class=\"_ _0\"></span>solidati. </span>Inoltre, <span class=\"_ _2c\"> </span>a <span class=\"_ _28\"> </span>partire <span class=\"_ _2c\"> </span>dall\u2019esercizio <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziario <span class=\"_ _2c\"> </span>che <span class=\"_ _2c\"> </span>inizia <span class=\"_ _28\"> </span>il <span class=\"_ _2c\"> </span>1\u00b0 <span class=\"_ _2c\"> </span>gennaio <span class=\"_ _2c\"> </span>2022, <span class=\"_ _2c\"> </span>gli <span class=\"_ _2c\"> </span>emittenti <span class=\"_ _2d\"> </span><span class=\"ff56\">sono <span class=\"_ _28\"></span>tenuti <span class=\"_ _2c\"></span>a </span>marcare anche le informazioni contenute nella not<span class=\"_ _0\"></span>a integrativa consolidata.<span class=\"_ _0\"></span> Il <span class=\"_ _2d\"> </span>documento <span class=\"_ _2a\"> </span>in <span class=\"_ _2d\"> </span>formato <span class=\"_ _2d\"> </span>PDF <span class=\"_ _2d\"> </span>non <span class=\"_ _2a\"> </span>costituisce <span class=\"_ _2d\"> </span>adempimento <span class=\"_ _2a\"> </span>agli <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2d\"> </span>derivanti <span class=\"_ _2a\"> </span>dalla <span class=\"_ _2d\"> </span>Direttiva Transparency<span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>dal <span class=\"_ _23\"></span>Regolamento <span class=\"_ _23\"></span>ESEF <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>quale <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _23\"></span>elaborato <span class=\"_ _23\"></span>apposito <span class=\"_ _23\"></span>formato <span class=\"_ _23\"></span>XHTML. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>depositi </span>dell\u2019intero documento, presso le sedi e le istitu<span class=\"_ _0\"></span>zioni competenti, sono effettuati ai sensi di leg<span class=\"_ _0\"></span>ge.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _23\"></span>29 <span class=\"_ _23\"></span>ottobr<span class=\"ff5d\">e <span class=\"_ _23\"></span>2021, <span class=\"_ _23\"></span>l\u2019ESMA <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>pubblicato <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>dichiarazione <span class=\"_ _23\"></span>annuale <span class=\"_ _23\"></span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">European <span class=\"_ _23\"></span>common <span class=\"_ _23\"></span>enforcement </span></span>priorities for 2021 annual financial reports<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d in cui ha richiamato l\u2019applicazion<span class=\"_ _0\"></span>e del Regolamento ESEF.<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span>2.12.<span class=\"ff5f\"> <span class=\"_ _2e\"> </span></span>Informativa per settori o<span class=\"_ _0\"></span>perativi Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>nelle <span class=\"_ _28\"> </span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _28\"></span>il <span class=\"_ _2c\"> </span>Gruppo <span class=\"_ _2c\"> </span>opera <span class=\"_ _28\"></span>e <span class=\"_ _28\"> </span>che <span class=\"_ _2c\"> </span>costituiscono <span class=\"_ _2c\"> </span>l\u2019informativa <span class=\"_ _28\"> </span>per <span class=\"_ _2c\"> </span>settore <span class=\"_ _2c\"> </span>operativo <span class=\"_ _2c\"> </span>come richiesto <span class=\"_ _2b\"></span>dall\u2019<span class=\"_ _0\"></span>IFRS <span class=\"_ _2b\"></span>8 sono <span class=\"_ _2b\"></span>relative <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>Settore Ram<span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>(gr<span class=\"_ _0\"></span>uppo <span class=\"_ _2b\"></span>KME SE) <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>Settore <span class=\"_ _29\"></span>Profumi <span class=\"_ _2b\"></span>&amp; Cosmesi <span class=\"_ _2b\"></span>(gruppo CULTI Milano). La <span class=\"_ _2b\"></span>struttura <span class=\"_ _2b\"></span>direzionale <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>organi<span class=\"ff5d\">zzativa <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _2b\"></span>riflette <span class=\"_ _2b\"></span>l\u2019informativa <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>settore <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>business </span>precedentemente descritta. L\u2019individu<span class=\"_ _0\"></span>azione dei settori operativi \u00e8 operata sulla b<span class=\"_ _0\"></span>ase degli elementi che il p<span class=\"_ _0\"></span>i\u00f9 alto <span class=\"_ _23\"></span>livello <span class=\"_ _23\"></span>decisionale <span class=\"_ _23\"></span>del<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>Gruppo <span class=\"_ _23\"></span>utilizza <span class=\"_ _23\"></span>per<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>prendere <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>prop<span class=\"_ _22\"></span><span class=\"ff5d\">rie <span class=\"_ _23\"></span>decisioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>merito <span class=\"_ _28\"></span>all\u2019allocazione <span class=\"_ _23\"></span>delle </span>risorse e alla valutazione dei risultati. I <span class=\"_ _2b\"></span>dati <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>settore <span class=\"_ _2b\"></span>relativi <span class=\"_ _2b\"></span>ai <span class=\"_ _2b\"></span>ricavi <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>proventi <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>ai <span class=\"_ _2b\"></span>risul<span class=\"_ _0\"></span>tati <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>2022 <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>riportati <span class=\"_ _2b\"></span>nella <span class=\"_ _29\"></span><span class=\"ff5a\">Relazione </span>sull<span class=\"ff5e\">\u2019andamento della</span>gestione<span class=\"ff56\">.<span class=\"_ _0\"></span> </span>2.13.<span class=\"ff5f\"> <span class=\"_ _2e\"> </span></span>Informativa Climate Cha<span class=\"_ _0\"></span>nge Si rimanda a quanto indicato nella <span class=\"_ _0\"></span><span class=\"ff5a\">Relazione sull<span class=\"ff5e\">\u2019andamento dell<span class=\"_ _0\"></span></span>a gestione</span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__19": {
   "value": "Il <span class=\"ls0\">bilancio consolidato <span class=\"_ _0\"></span>al 31 dicembre 2022 <span class=\"_ _0\"></span><span class=\"ff5d\">\u00e8 stato redatto ai sensi <span class=\"_ _0\"></span>dell\u2019art. 154 <span class=\"ff5a\">ter</span></span> del <span class=\"_ _0\"></span>D. Lgs. 58/19<span class=\"_ _0\"></span>98 </span>ed <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>conforme <span class=\"_ _2b\"></span>agli <span class=\"_ _29\"></span><span class=\"ff5a\">International <span class=\"_ _2b\"></span>Financial <span class=\"_ _29\"></span>Reporting <span class=\"_ _2b\"></span>Standards<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>(IFRS) <span class=\"_ _29\"></span>emanati <span class=\"_ _2b\"></span>da<span class=\"ff5d ls9\">ll\u2019</span><span class=\"ff5a\">Internationa<span class=\"_ _0\"></span>l <span class=\"_ _2b\"></span>Accounting </span></span></span>Standards <span class=\"_ _28\"></span>Board <span class=\"_ _2c\"></span><span class=\"ff5d\">(IASB) <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>ado<span class=\"_ _0\"></span>ttati <span class=\"_ _28\"></span>dalla <span class=\"_ _2c\"> </span>Commissione <span class=\"_ _2c\"> </span>Europea <span class=\"_ _28\"> </span>secondo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>la <span class=\"_ _2c\"> </span>procedura <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>cui <span class=\"_ _2c\"> </span>all\u2019art. <span class=\"_ _28\"></span>6 <span class=\"_ _2c\"> </span>del </span>Regolamento <span class=\"_ _2d\"> </span>(CE) <span class=\"_ _2d\"> </span>n. <span class=\"_ _2a\"> </span>1606/2002 <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Parlamento <span class=\"_ _2d\"> </span>Europeo <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Consiglio <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>19 <span class=\"_ _2d\"> </span>luglio <span class=\"_ _2a\"> </span>2002 <span class=\"_ _2d\"> </span>nonch\u00e9 <span class=\"_ _2d\"> </span>ai provvedimenti emanati in at<span class=\"ff5d\">tuazion<span class=\"_ _0\"></span>e dell\u2019art. 9 del D. Lgs. n. 38/2005.<span class=\"_ _0\"></span></span>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__20": {
   "value": "Si precisa che i saldi comparativi del 2021 non sono  immediatamente comparabili con quelli al 31 dicembre  2022  in  quanto  questi  ultimi  rispecchiano  l\u2019ampliamento  dell\u2019area  di  consolidamento  integrale conseguente alla perdita della qualifica di entit\u00e0 di investimento, contabilizzata, ai sensi del paragrafo 30 dell\u2019IFRS  10,  prospetticamente  a  partire  dalla  data  in  cui  detto  cambiamento  si  \u00e8  verificato  senza rideterminazione dei comparativi.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfReasonWhyFinancialStatementsAreNotEntirelyComparable",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__21": {
   "value": "Il <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>esente <span class=\"_ _23\"></span>Bilancio <span class=\"_ _22\"></span>Consolidato <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>redatto <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>presuppo<span class=\"_ _0\"></span>sto <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>continuit\u00e0 <span class=\"_ _23\"></span>aziendale, <span class=\"_ _22\"></span>secondo <span class=\"_ _23\"></span>quanto previsto <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>principio <span class=\"_ _28\"></span>contabile <span class=\"_ _28\"></span>IAS <span class=\"_ _23\"></span>1<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>rispetto <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>covenant <span class=\"_ _28\"></span>finanziari; <span class=\"_ _23\"></span>le <span class=\"_ _28\"></span>considerazioni <span class=\"_ _28\"></span>relative <span class=\"_ _28\"></span>alla continuit\u00e0 aziendale <span class=\"_ _2b\"></span>sono state <span class=\"_ _29\"></span>svolte <span class=\"_ _29\"></span>in relaz<span class=\"_ _29\"></span>ione <span class=\"_ _29\"></span>agli effetti <span class=\"_ _2b\"></span>del conflitto <span class=\"_ _29\"></span>in corso <span class=\"_ _2b\"></span>tra Russia <span class=\"_ _2b\"></span>e Ucraina <span class=\"_ _29\"></span>nonch\u00e9 delle conseguenze della pandemia Covid<span class=\"_ _0\"></span>-19 che continuano<span class=\"_ _0\"></span> a pesare sulle prospettive economiche mondiali.<span class=\"_ _0\"></span> Nella redazione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Bilancio <span class=\"_ _0\"></span>Consolidato<span class=\"_ _0\"></span> gli <span class=\"_ _0\"></span>Amministratori <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>principio della <span class=\"_ _3c\"> </span>competenza, <span class=\"_ _3c\"> </span>della <span class=\"_ _3c\"> </span>comprensibilit\u00e0, <span class=\"_ _3c\"> </span>significativit\u00e0, <span class=\"_ _3c\"> </span>rilevanza, <span class=\"_ _3c\"> </span>attendibilit\u00e0, <span class=\"_ _3c\"> </span>neutralit\u00e0, <span class=\"_ _3c\"> </span>prudenza <span class=\"_ _3c\"> </span>e comparabilit\u00e0 <span class=\"_ _23\"></span>ed <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>applicato <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>medesimi <span class=\"_ _22\"></span>principi <span class=\"_ _23\"></span>adottati <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>redazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>bi<span class=\"_ _0\"></span>lancio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>consolidato <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 dicembre <span class=\"ls1\">2021<span class=\"lsb\">, <span class=\"_ _29\"></span><span class=\"ls0\">fatto salvo <span class=\"_ _29\"></span>quanto indicato <span class=\"_ _29\"></span>nel paragrafo <span class=\"_ _29\"></span>precedente in <span class=\"_ _29\"></span>merito agli <span class=\"_ _29\"></span>investimenti partecipativi e </span></span></span>fatta eccezione per i principi contabili entrati in vi<span class=\"_ _0\"></span>gore al 1\u00b0 gennaio 2022. <span class=\"_ _0\"></span> Per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>dettaglio <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>principi <span class=\"_ _2b\"></span>contabili, <span class=\"_ _2b\"></span>emendamenti <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>interpretazioni <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>nuova <span class=\"_ _2b\"></span>applicazione <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>Gruppo, la <span class=\"_ _0\"></span>cui <span class=\"_ _22\"></span>applicazione <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>comportato <span class=\"_ _22\"></span>effetti <span class=\"_ _0\"></span>sul <span class=\"_ _22\"></span>patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>risultato <span class=\"_ _22\"></span>dell\u2019esercizio,<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>rimanda <span class=\"_ _22\"></span>al </span>paragrafo <span class=\"ff5d\">\u201cPrincipi contabili di nuova applicazion<span class=\"_ _0\"></span>e\u201d</span>. Il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>ancora <span class=\"_ _22\"></span>applicato <span class=\"_ _22\"></span>quei <span class=\"_ _23\"></span>principi <span class=\"_ _0\"></span>contabili, <span class=\"_ _22\"></span>elencati <span class=\"_ _22\"></span>successiv<span class=\"_ _0\"></span>amente <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>paragrafo <span class=\"_ _22\"></span>2.<span class=\"_ _0\"></span><span class=\"lsf\">10</span>, che, <span class=\"_ _28\"></span>pur <span class=\"_ _2c\"></span><span class=\"ls5\">se <span class=\"_ _2c\"></span></span>emanati <span class=\"_ _28\"></span>dallo <span class=\"_ _2c\"></span>IASB, <span class=\"_ _28\"></span>hanno <span class=\"_ _2c\"></span>data <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>decorrenza <span class=\"_ _2c\"></span>successiva <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>quella <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>riferimento <span class=\"_ _2c\"></span>del <span class=\"_ _28\"></span>presen<span class=\"_ _0\"></span>te Bilancio Consolidato <span class=\"ls1\">o </span>non hanno ancora completato<span class=\"_ _0\"></span> il processo di adozione da parte del<span class=\"_ _0\"></span><span class=\"ff5d\">l\u2019Unione Europea.<span class=\"_ _0\"></span></span>  Gli accadimenti e le operazioni aziendali sono<span class=\"_ _0\"></span> rilevati e rappresentati in conformit\u00e0 alla loro sostanza e realt\u00e0 economica e non solamente second<span class=\"_ _0\"></span>o la loro forma legale.<span class=\"_ _0\"></span> Apposite note <span class=\"_ _0\"></span>esplicative presenti <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span><span class=\"ff5a\">Relazione <span class=\"_ _0\"></span><span class=\"ff5e\">sull\u2019andamento d<span class=\"_ _0\"></span></span>ella gestione</span> <span class=\"_ _0\"></span>illustrano contenuto <span class=\"_ _0\"></span>e significato <span class=\"_ _23\"></span>degli <span class=\"_ _28\"></span>indicatori <span class=\"_ _23\"></span>alternativi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">perfo<span class=\"_ _0\"></span>rmance</span>, <span class=\"_ _23\"></span>se <span class=\"_ _28\"></span>utilizzati, <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>previsti <span class=\"_ _23\"></span>dagli <span class=\"_ _28\"></span>IFRS, <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>linea <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>la raccomandazione del CESR 05 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> 178b pubblicata il 3 novembre 2005.<span class=\"_ _0\"></span> Il <span class=\"_\"> </span>presente <span class=\"_ _2d\"> </span>bi<span class=\"_ _0\"></span>lancio <span class=\"_\"> </span>consolidato <span class=\"_\"> </span>\u00e8 <span class=\"_ _2d\"> </span>espre<span class=\"_ _0\"></span>sso <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>Euro, <span class=\"_ _2a\"> </span>moneta <span class=\"_ _2a\"> </span>funzionale <span class=\"_ _2a\"> </span>della <span class=\"_\"> </span>Capogruppo <span class=\"_\"> </span>e <span class=\"_ _2d\"> </span>d<span class=\"_ _0\"></span>elle principali <span class=\"_ _29\"></span>controllate <span class=\"_ _2b\"></span>consolidate. <span class=\"_ _29\"></span>I <span class=\"_ _2b\"></span>prospetti <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>dati delle <span class=\"_ _2b\"></span>note <span class=\"_ _29\"></span>esplicative, <span class=\"_ _2b\"></span>se <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>diversamente<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>indicato, sono riportati in migliaia di Euro. Inoltre, <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>contesto <span class=\"_ _28\"></span>conseguente <span class=\"_ _2c\"> </span>l\u2019epidemia <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>Covi<span class=\"_ _0\"></span><span class=\"ff56\">d-19 <span class=\"_ _28\"></span>nonch\u00e9 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>conflitto <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>Russia <span class=\"_ _2c\"></span>e </span>Ucraina, <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>redazione <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>Bilancio <span class=\"_ _22\"></span>Con<span class=\"_ _0\"></span>solidato <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>tenuto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>documenti <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>tipo <span class=\"_ _22\"></span>interpretativo <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>di supporto <span class=\"_ _2d\"> </span>all\u2019applicazione <span class=\"_ _2d\"> </span>dei <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipi <span class=\"_ _2d\"> </span>contabili <span class=\"_ _2c\"> </span>emanati <span class=\"_ _2d\"> </span>dagli <span class=\"_ _2d\"> </span>organismi <span class=\"_ _2d\"> </span>regolamentari <span class=\"_ _2c\"> </span>internazion<span class=\"_ _22\"></span><span class=\"ff56\">ali <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>di<span class=\"_ _0\"></span> </span>vigilanza <span class=\"_ _2a\"> </span>italiani <span class=\"_ _2d\"> </span>e <span class=\"_\"> </span>dagli <span class=\"_ _2d\"> </span><span class=\"ff5a\">stan<span class=\"_ _0\"></span>dard <span class=\"_ _2a\"> </span>setter</span> <span class=\"_ _2d\"> </span>(Richia<span class=\"_ _0\"></span>mi <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>attenzione <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>Consob <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span><span class=\"ff5a\">public <span class=\"_ _2a\"> </span>statement</span> <span class=\"_ _2d\"> </span>eman<span class=\"_ _0\"></span>ati dall\u2019ESMA).<span class=\"ff56\"> </span>Il formato elettronico unico di comunicazione p<span class=\"_ _0\"></span>er la redazione le relazioni finanziarie an<span class=\"_ _0\"></span>nuali<span class=\"_ _0\"></span> La <span class=\"_ _28\"> </span>Direttiva <span class=\"_ _2c\"> </span>2004/109/CE <span class=\"_ _2c\"> </span>(la <span class=\"_ _2c\"> </span>\u201cDirettiva <span class=\"_ _2c\"> </span><span class=\"ff5a\">Transparency</span>\u201d) <span class=\"_ _2c\"> </span>modificata <span class=\"_ _2c\"> </span>dalla <span class=\"_ _2c\"> </span>Direttiva <span class=\"_ _2c\"> </span>2013/50/UE <span class=\"_ _28\"> </span>e <span class=\"_ _2c\"> </span>il Regolamento <span class=\"_ _0\"></span>Delegato <span class=\"_ _22\"></span>(UE) <span class=\"_ _0\"></span>2019/815 <span class=\"_ _22\"></span>(il <span class=\"_ _0\"></span>\u201cRegolamento <span class=\"_ _22\"></span>ESEF\u201d) <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>introdotto <span class=\"_ _22\"></span>l\u2019obbligo <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>emittenti di <span class=\"_ _0\"></span>valori <span class=\"_ _22\"></span>mobiliari <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>otati <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>mercati <span class=\"_ _0\"></span>rego<span class=\"_ _0\"></span>lamentati <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019Unione <span class=\"_ _22\"></span>Europea <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>redigere <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria </span>annuale <span class=\"_ _41\"> </span>nel <span class=\"_ _41\"> </span>linguaggio <span class=\"_ _41\"> </span><span class=\"ff5a\">eXtensible <span class=\"_ _41\"> </span>Hypertext <span class=\"_ _41\"> </span>Mar<span class=\"_ _0\"></span>kup <span class=\"_ _41\"> </span>Language<span class=\"_ _0\"></span></span> <span class=\"_ _41\"> </span><span class=\"ff5d\">(\u201cXHTML\u201d), <span class=\"_ _41\"> </span>sulla <span class=\"_ _41\"> </span>base <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span>formato </span>elettronico <span class=\"_ _0\"></span>unico <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>comunicazione <span class=\"_ _0\"></span>ESEF <span class=\"_ _0\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">European <span class=\"_ _0\"></span>Single <span class=\"_ _0\"></span>Electronic <span class=\"_ _22\"></span>Format</span>\u201d), <span class=\"_ _0\"></span>app<span class=\"_ _0\"></span>rovato <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>ESMA. <span class=\"_ _0\"></span>Ci\u00f2 al <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>rendere <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>relazioni <span class=\"_ _22\"></span>finanziarie <span class=\"_ _22\"></span>annuali <span class=\"_ _22\"></span>leggibili <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>da <span class=\"_ _22\"></span>utenti <span class=\"_ _22\"></span>umani <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>dispositivi <span class=\"_ _0\"></span>auto<span class=\"_ _0\"></span>matici <span class=\"_ _22\"></span>e migliorare la comparabilit\u00e0 e l\u2019analisi delle in<span class=\"_ _0\"></span>formazioni incluse nelle relazioni finanziarie annu<span class=\"_ _0\"></span>ali.<span class=\"ff56\"> </span>Pertanto a <span class=\"_ _2b\"></span>partire dall\u2019esercizio <span class=\"_ _2b\"></span>fin<span class=\"_ _0\"></span>anzi<span class=\"ff56\">ario che <span class=\"_ _2b\"></span>inizia il <span class=\"_ _2b\"></span>1\u00b0 gennaio <span class=\"_ _29\"></span>2021 <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>stato <span class=\"_ _29\"></span>previsto <span class=\"_ _29\"></span>che <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>relazione<span class=\"_ _0\"></span> </span>finanziaria annuale <span class=\"_ _29\"></span>venga <span class=\"_ _29\"></span>redatta e <span class=\"_ _2b\"></span>pubblicata nel formato <span class=\"_ _29\"></span>XHTML utilizzando <span class=\"_ _2b\"></span>il linguaggio <span class=\"ff5a\">Inline Extensible </span>Business Reporting Language<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"ff5d\">(\u201ciXBRL\u201d) solo per la marcatura dei p<span class=\"_ _0\"></span>rospetti cont</span>abili con<span class=\"_ _0\"></span>solidati. </span>Inoltre, <span class=\"_ _2c\"> </span>a <span class=\"_ _28\"> </span>partire <span class=\"_ _2c\"> </span>dall\u2019esercizio <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziario <span class=\"_ _2c\"> </span>che <span class=\"_ _2c\"> </span>inizia <span class=\"_ _28\"> </span>il <span class=\"_ _2c\"> </span>1\u00b0 <span class=\"_ _2c\"> </span>gennaio <span class=\"_ _2c\"> </span>2022, <span class=\"_ _2c\"> </span>gli <span class=\"_ _2c\"> </span>emittenti <span class=\"_ _2d\"> </span><span class=\"ff56\">sono <span class=\"_ _28\"></span>tenuti <span class=\"_ _2c\"></span>a </span>marcare anche le informazioni contenute nella not<span class=\"_ _0\"></span>a integrativa consolidata.<span class=\"_ _0\"></span> Il <span class=\"_ _2d\"> </span>documento <span class=\"_ _2a\"> </span>in <span class=\"_ _2d\"> </span>formato <span class=\"_ _2d\"> </span>PDF <span class=\"_ _2d\"> </span>non <span class=\"_ _2a\"> </span>costituisce <span class=\"_ _2d\"> </span>adempimento <span class=\"_ _2a\"> </span>agli <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2d\"> </span>derivanti <span class=\"_ _2a\"> </span>dalla <span class=\"_ _2d\"> </span>Direttiva Transparency<span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>dal <span class=\"_ _23\"></span>Regolamento <span class=\"_ _23\"></span>ESEF <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>quale <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _23\"></span>elaborato <span class=\"_ _23\"></span>apposito <span class=\"_ _23\"></span>formato <span class=\"_ _23\"></span>XHTML. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>depositi </span>dell\u2019intero documento, presso le sedi e le istitu<span class=\"_ _0\"></span>zioni competenti, sono effettuati ai sensi di leg<span class=\"_ _0\"></span>ge.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _23\"></span>29 <span class=\"_ _23\"></span>ottobr<span class=\"ff5d\">e <span class=\"_ _23\"></span>2021, <span class=\"_ _23\"></span>l\u2019ESMA <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>pubblicato <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>dichiarazione <span class=\"_ _23\"></span>annuale <span class=\"_ _23\"></span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">European <span class=\"_ _23\"></span>common <span class=\"_ _23\"></span>enforcement </span></span>priorities for 2021 annual financial reports<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d in cui ha richiamato l\u2019applicazion<span class=\"_ _0\"></span>e del Regolamento ESEF.<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__22": {
   "value": "2.3.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span><span class=\"ff61\">Fatti intervenuti dopo la chiusura d<span class=\"_ _0\"></span>ell\u2019esercizio</span></span> In <span class=\"_ _2b\"></span>merito ad <span class=\"_ _2b\"></span>una <span class=\"_ _29\"></span>descrizione <span class=\"_ _2b\"></span>dei fatti <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riliev<span class=\"_ _0\"></span>o <span class=\"_ _2b\"></span>avv<span class=\"_ _0\"></span>enuti <span class=\"_ _2b\"></span>do<span class=\"_ _0\"></span>po <span class=\"_ _2b\"></span>la <span class=\"ff5d\">chiusura <span class=\"_ _2b\"></span>dell\u2019esercizio, s<span class=\"ff56\">i <span class=\"_ _2b\"></span>rimanda <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>quanto </span></span>riportato nella <span class=\"ff5a\">Relazione sull<span class=\"ff5e\">\u2019a<span class=\"_ _0\"></span>ndamento della</span> gestione</span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__23": {
   "value": "2.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Base di presentazione  Si <span class=\"_ _0\"></span>segnala <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>fini <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>predisposizione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esente Bilancio <span class=\"_ _22\"></span>Con<span class=\"_ _0\"></span>solidato <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>prospetti <span class=\"_ _0\"></span>contabili <span class=\"_ _0\"></span>consolidati<span class=\"_ _0\"></span> sono stati adeguati al fine di: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">rispecchiare <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>\u201ccambio <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>stato\u201d <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>investimento <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>quindi <span class=\"_ _22\"></span>l\u2019assetto <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>holding <span class=\"_ _22\"></span>industriale: <span class=\"_ _0\"></span>le<span class=\"_ _0\"></span> </span></span>principali voci di bilancio tipiche dell\u2019operativit\u00e0 della Capogruppo, \u201cInvestimenti in <span class=\"ff56\">partecipazioni e </span>quote <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>fondi\u201d <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>patrimoniale <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>\u201cProventi <span class=\"_ _22\"></span>netti <span class=\"_ _0\"></span>da <span class=\"_ _22\"></span>gestione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>partecipazioni\u201d <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>conto economico, <span class=\"_ _3c\"> </span>sono <span class=\"_ _3c\"> </span>state <span class=\"_ _41\"> </span>ridenominate <span class=\"_ _3c\"> </span>rispettivamente <span class=\"_ _3c\"> </span>\u201cPartecipazioni\u201d <span class=\"_ _3c\"> </span><span class=\"ff56\">(suddivise <span class=\"_ _3c\"> </span>per <span class=\"_ _3c\"> </span>tipologia: </span>\u201cPartecipazioni in <span class=\"_ _29\"></span>controllate\u201d, <span class=\"_ _2b\"></span>\u201cParte<span class=\"_ _0\"></span>cipazioni a <span class=\"_ _29\"></span>patrimonio netto\u201d, <span class=\"_ _2b\"></span>\u201cPartecipazioni in <span class=\"_ _29\"></span>altre <span class=\"_ _29\"></span>imprese\u201d) e <span class=\"_ _0\"></span>\u201cRisultato <span class=\"_ _22\"></span>partecipazioni\u201d <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>accolgon<span class=\"_ _0\"></span>o, <span class=\"_ _22\"></span>oltre <span class=\"_ _0\"></span>all\u2019effe<span class=\"_ _0\"></span>tto <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>relativo <span class=\"_ _0\"></span>alle <span class=\"_ _22\"></span>variazioni di <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _2c\"></span><span class=\"ff5d\">iscritte <span class=\"_ _28\"></span>nei <span class=\"_ _28\"></span>primi <span class=\"_ _28\"> </span>qu<span class=\"_ _0\"></span>attro <span class=\"_ _28\"></span>mesi <span class=\"_ _28\"></span>dell\u2019esercizio,<span class=\"_ _0\"></span></span> <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>poste <span class=\"_ _28\"></span>relative <span class=\"_ _28\"></span>alle <span class=\"_ _28\"></span>partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _28\"></span>non consolidate integralmente (partecipazioni in con<span class=\"_ _0\"></span>trollate) e al<span class=\"ls9\">le</span> partecipazioni<span class=\"_ _0\"></span> in altre impre<span class=\"ls5\">se<span class=\"lsb\">. </span></span> Con <span class=\"_ _22\"></span>riferimento <span class=\"_ _22\"></span>agli <span class=\"_ _23\"></span>schemi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>economico, <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _22\"></span>operata <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>riclassifi<span class=\"_ _0\"></span>ca <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>voce <span class=\"_ _22\"></span>\u201cRisultato partecipazio<span class=\"ff5d\">ni\u201d <span class=\"_ _0\"></span></span>- che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>concorre <span class=\"_ _0\"></span>alla formazione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>Risultato <span class=\"_ _0\"></span>Operativo <span class=\"_ _0\"></span>di bilancio <span class=\"_ _22\"></span>- <span class=\"_ _0\"></span>nonch\u00e9 <span class=\"_ _0\"></span>della voce <span class=\"_ _28\"></span>\u201cCommissioni <span class=\"_ _28\"></span>su <span class=\"_ _23\"></span>garan<span class=\"_ _0\"></span>zie <span class=\"_ _28\"></span>prestate\u201d <span class=\"_ _23\"></span>pr<span class=\"_ _0\"></span>opria <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>Capogruppo <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>confluita <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>\u201cProventi finanziari\u201d. <span class=\"ff56\"> </span>Il <span class=\"_ _0\"></span>prospetto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rendiconto <span class=\"_ _0\"></span>finanziario <span class=\"_ _0\"></span>consolidato <span class=\"_ _0\"></span>ris<span class=\"_ _0\"></span>pecchia <span class=\"_ _0\"></span>altres\u00ec <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>suddetto<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>approccio <span class=\"_ _0\"></span>e riflette <span class=\"_ _22\"></span>la riclassifica <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>saldi <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>voci <span class=\"_ _29\"></span>afferenti <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>partecipazio<span class=\"_ _0\"></span>ni <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>quelle <span class=\"_ _2b\"></span>relative <span class=\"_ _2b\"></span>ai <span class=\"_ _2b\"></span>fl<span class=\"_ _0\"></span>ussi <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>deb<span class=\"_ _0\"></span>iti/crediti finanziari verso correlate facenti ora parte dei \u201cCash flo<span class=\"_ _0\"></span>w da attivit\u00e0 di investimento\u201d; <span class=\"_ _0\"></span><span class=\"ff56\">  </span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">includere <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>componen<span class=\"_ _0\"></span>ti <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>bilancio <span class=\"_ _2a\"> </span>delle <span class=\"_ _2d\"> </span>contro<span class=\"_ _0\"></span>llate <span class=\"_ _2a\"> </span>consolidate <span class=\"_ _2d\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2a\"> </span>presenti <span class=\"_ _2d\"> </span>nel <span class=\"_\"> </span>bilanci<span class=\"_ _29\"></span>o <span class=\"_ _2a\"> </span>della </span>Capogruppo <span class=\"_\"> </span>e <span class=\"_\"> </span>nei <span class=\"_ _2a\"> </span>precedenti <span class=\"_\"> </span>bilanci <span class=\"_\"> </span>consolidati, <span class=\"_\"> </span>sono <span class=\"_\"> </span>state <span class=\"_ _2a\"> </span>rappresentate <span class=\"_\"> </span>nuove <span class=\"_\"> </span>voci <span class=\"_\"> </span>contabili: \u201cRimanenze\u201d <span class=\"_ _41\"> </span>e <span class=\"_ _3c\"> </span>le <span class=\"_ _41\"> </span>relative <span class=\"_ _41\"> </span>vo<span class=\"_ _0\"></span>ci <span class=\"_ _41\"> </span>di <span class=\"_ _3c\"> </span>conto <span class=\"_ _41\"> </span>economico, <span class=\"_ _41\"> </span>\u201cVariazio<span class=\"_ _0\"></span><span class=\"ff56\">ni <span class=\"_ _3c\"> </span>rimanenze <span class=\"_ _41\"> </span>prodotti <span class=\"_ _3c\"> </span>finiti <span class=\"_ _41\"> </span>e </span>semilavorati\u201d, <span class=\"_ _28\"></span>\u201cCapitalizzazioni <span class=\"_ _28\"> </span>per <span class=\"_ _2c\"> </span>lavori <span class=\"_ _28\"></span>interni\u201d, <span class=\"_ _28\"></span>\u201cAcquisto <span class=\"_ _28\"> </span>e <span class=\"_ _2c\"> </span>variazione <span class=\"_ _28\"></span>materie <span class=\"_ _28\"></span>prime\u201d <span class=\"_ _28\"></span>nonch\u00e9 \u201cRicavi delle vendite e prestazioni di servizi\u201d.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Sono state inoltre <span class=\"_ _29\"></span>valorizzate le voci <span class=\"_ _29\"></span>di bilancio relative <span class=\"_ _29\"></span>alle attivit\u00e0 e <span class=\"_ _29\"></span>passivit\u00e0 in dismissione ai sensi dell\u2019IFRS <span class=\"_ _23\"></span>5 <span class=\"_ _23\"></span>(voci <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>bilancio <span class=\"_ _23\"></span>consolidato <span class=\"_ _23\"></span>\u201cAttivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>correnti <span class=\"_ _23\"></span>detenute <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>vendita\u201d, <span class=\"_ _23\"></span>\u201cPassivit\u00e0 direttamente collegate ad attivit\u00e0 detenute per la vend<span class=\"_ _0\"></span>ita\u201d e \u201cRisultato da attivit\u00e0 operative cessate\u201d).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReclassificationsOrChangesInPresentationExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__25": {
   "value": "2.5.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Principi di consolidamento Il <span class=\"_ _2d\"> </span><span class=\"ls0\">bilancio<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_\"> </span>al<span class=\"_ _29\"></span> <span class=\"_ _2d\"> </span>31 <span class=\"_ _2a\"> </span>dicembre <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2a\"> </span>riflette <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>consolidamento <span class=\"_ _2d\"> </span>della <span class=\"_ _2a\"> </span>Capogruppo <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>delle <span class=\"_ _2a\"> </span>societ\u00e0 </span>direttamente ed indirettamente controllate, controllate con<span class=\"_ _0\"></span>giuntamente o collegate. <span class=\"_ _0\"></span> Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>cui <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>prevista <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span><span class=\"ff5d\">dismissione <span class=\"_ _28\"></span>vengo<span class=\"_ _0\"></span>no <span class=\"_ _28\"></span>riclassificate <span class=\"_ _28\"></span>nelle <span class=\"_ _28\"></span>voci <span class=\"_ _28\"></span>dell\u2019attivo <span class=\"_ _28\"> </span>e <span class=\"_ _28\"> </span>de<span class=\"_ _0\"></span>l </span>passivo <span class=\"_ _0\"></span>destinate <span class=\"_ _0\"></span>ad <span class=\"_ _0\"></span>evidenziare <span class=\"_ _0\"></span>tali <span class=\"_ _0\"></span>fattispecie <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>relativi <span class=\"_ _0\"></span>effetti <span class=\"_ _0\"></span>economici <span class=\"_ _0\"></span>vengono <span class=\"_ _0\"></span>esposti <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>separata <span class=\"_ _0\"></span>voce di conto economico<span class=\"lsb\">. </span> 2.5.1.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Entit\u00e0 controllate </span></span>Le controllate sono tutte le societ\u00e0 sulle <span class=\"_ _0\"></span>quali la Capogruppo ha contemporanea<span class=\"_ _0\"></span>mente: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il <span class=\"_ _0\"></span>potere <span class=\"_ _0\"></span>cio\u00e8 <span class=\"_ _0\"></span>detiene <span class=\"_ _0\"></span>valid<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>diritti <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>conferiscono <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>capacit\u00e0 <span class=\"_ _22\"></span>attuale <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>dirigere <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span><span class=\"ff5a\">at<span class=\"_ _0\"></span>tivit\u00e0 </span></span></span>rilevanti<span class=\"ff56\">, ossia le attivit\u00e0 che incidono <span class=\"_ _0\"></span>in maniera significativa sui rendimenti;<span class=\"_ _0\"></span> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">l\u2019esposizione o i diri<span class=\"ff56\">tti a rendimenti v<span class=\"_ _0\"></span>ariabili derivanti dal rapporto con la stessa;<span class=\"_ _0\"></span> </span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">la capacit\u00e0 di esercitare il proprio potere<span class=\"_ _0\"></span> per incidere sull'ammontare dei suoi ren<span class=\"_ _0\"></span>dimenti. </span></span>Le <span class=\"_ _2c\"></span>attivit\u00e0, <span class=\"_ _2d\"> </span>le <span class=\"_ _28\"></span>passivit\u00e0, <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"></span>oneri <span class=\"_ _2c\"> </span>ed <span class=\"_ _2d\"> </span>i <span class=\"_ _2c\"></span>proventi <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>imprese <span class=\"_ _2c\"></span>controllate <span class=\"_ _2c\"></span>consolidate <span class=\"_ _2d\"> </span>con <span class=\"_ _2c\"></span>il <span class=\"_ _2c\"></span>me<span class=\"_ _0\"></span>todo integrale <span class=\"_ _29\"></span>sono ass<span class=\"_ _29\"></span>unti inte<span class=\"_ _29\"></span>gralmente <span class=\"_ _29\"></span>nel <span class=\"_ _29\"></span>bilancio <span class=\"_ _29\"></span>consolidato; il<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>delle partecipazioni <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>eliminato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>fronte della <span class=\"_ _28\"></span>corrisponden<span class=\"_ _0\"></span>te <span class=\"_ _28\"></span>frazione <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>patrimonio <span class=\"_ _2c\"></span>netto <span class=\"_ _28\"></span>delle <span class=\"_ _2c\"></span>imprese <span class=\"_ _28\"></span>partecipate <span class=\"_ _2c\"></span>attribuendo <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>singoli <span class=\"_ _28\"></span>elementi dell\u2019attivo e <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>passivo patrimoniale <span class=\"_ _29\"></span>il loro <span class=\"_ _2b\"></span>valore corrente alla <span class=\"_ _29\"></span>data d\u2019acquisizione <span class=\"_ _2b\"></span>del controllo. L\u2019eventuale differenza residua, <span class=\"_ _0\"></span>se po<span class=\"_ _0\"></span>sitiva, \u00e8 <span class=\"_ _0\"></span>iscritta nella <span class=\"_ _0\"></span>voce dell\u2019<span class=\"_ _0\"></span>attivo \u201cavviamento\u201d; <span class=\"_ _0\"></span>se negativa, <span class=\"_ _0\"></span>a conto<span class=\"_ _0\"></span> economico. Le <span class=\"_ _28\"></span>quote <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto <span class=\"_ _28\"> </span>e <span class=\"_ _28\"> </span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>competenza<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>minoranze <span class=\"_ _28\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>iscritte <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>apposite <span class=\"_ _28\"></span>voci <span class=\"_ _28\"></span>di </span>bilancio. <span class=\"_\"> </span>Dopo <span class=\"_\"> </span>la<span class=\"_ _29\"></span> <span class=\"_\"> </span>rilevazione <span class=\"_ _2a\"> </span>iniziale, <span class=\"_ _2a\"> </span>l\u2019\u201cavviamento\u201d <span class=\"_\"> </span>\u00e8 <span class=\"_ _2a\"> </span>valutato <span class=\"_ _2a\"> </span>secondo <span class=\"_\"> </span>quanto <span class=\"_ _2a\"> </span>previsto <span class=\"_\"> </span>dallo <span class=\"_\"> </span><span class=\"ff5a\">IAS <span class=\"_ _2a\"> </span>36<span class=\"ff56\"> </span></span>Riduzione di valore delle attivit\u00e0.<span class=\"_ _0\"></span> Dall\u2019area <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _2e\"> </span>restano <span class=\"_ _2f\"> </span>escluse <span class=\"_ _8b\"> </span>le <span class=\"_ _2f\"> </span>controllate <span class=\"_ _2e\"> </span>non <span class=\"_ _2f\"> </span>sig<span class=\"ff56\">nificative <span class=\"_ _2e\"> </span>e <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>il <span class=\"_ _2e\"> </span>cu<span class=\"_ _0\"></span>i </span>consolidamento <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>produce <span class=\"_ _23\"></span>effetti <span class=\"_ _28\"></span>sostanziali. <span class=\"_ _23\"></span>Gli <span class=\"_ _23\"></span>effetti <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>tali <span class=\"_ _23\"></span>esclusioni <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>assumono <span class=\"_ _23\"></span>per\u00f2 <span class=\"_ _23\"></span>rilevanza <span class=\"_ _23\"></span>e quindi <span class=\"_ _2f\"> </span>la <span class=\"_ _2f\"> </span>loro <span class=\"_ _2f\"> </span>omissione <span class=\"_ _2f\"> </span>non <span class=\"_ _2f\"> </span>influenza <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>deci<span class=\"_ _0\"></span>sioni <span class=\"_ _2f\"> </span>economich<span class=\"_ _0\"></span>e <span class=\"_ _2f\"> </span>degli <span class=\"_ _2f\"> </span>utilizzatori <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>questo <span class=\"_ _2f\"> </span>Bilanci<span class=\"_ _0\"></span>o Consolidato<span class=\"lsb\">. </span><span class=\"ff5a\"> </span>Gli <span class=\"_ _29\"></span>utili <span class=\"_ _29\"></span>derivanti <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>operazioni infragruppo <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _29\"></span>ancora <span class=\"_ _2b\"></span>realizzati nei <span class=\"_ _29\"></span>confronti <span class=\"_ _29\"></span>dei <span class=\"_ _29\"></span>terzi, <span class=\"_ _2b\"></span>se significativi, sono <span class=\"_ _28\"></span>eliminati. <span class=\"_ _28\"></span>Sono <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _28\"></span>oggetto <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>eliminazione <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>crediti, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>debiti, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>proventi, <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>oneri, <span class=\"_ _23\"></span>le <span class=\"_ _28\"></span>garanzie, <span class=\"_ _28\"></span>gli impegni <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2c\"></span>rischi <span class=\"_ _2c\"></span>tra <span class=\"_ _2d\"> </span>imprese <span class=\"_ _28\"></span>c<span class=\"_ _0\"></span>onsolidate. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2c\"></span>perdite <span class=\"_ _2c\"></span>infragruppo <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>eliminate <span class=\"_ _2d\"> </span>perch\u00e9 <span class=\"_ _2c\"></span>considerate rappresentative <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>effettivo <span class=\"_ _2b\"></span>minor <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>bene <span class=\"_ _2b\"></span>ceduto. <span class=\"_ _2b\"></span>Tutti <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>bilanci <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>controllate <span class=\"_ _2b\"></span>sono, <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>necessario, rettificati <span class=\"_ _2b\"></span>allo<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>scop<span class=\"_ _0\"></span>o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>ottenere l\u2019uniformit\u00e0 <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>principi <span class=\"_ _2b\"></span>e dei<span class=\"ff56\"> <span class=\"_ _2b\"></span>criter<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>valutazion<span class=\"_ _0\"></span>e <span class=\"_ _2b\"></span>adottati a <span class=\"_ _2b\"></span>livello <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>Gruppo.<span class=\"_ _0\"></span> </span>Nell\u2019ipotesi <span class=\"_ _3c\"> </span>di <span class=\"_ _3c\"> </span>cessione <span class=\"_ _3c\"> </span>o <span class=\"_ _3c\"> </span>conferimento <span class=\"_ _3c\"> </span>di <span class=\"_ _3c\"> </span>una <span class=\"_ _3c\"> </span>societ\u00e0 <span class=\"_ _3c\"> </span>partecipata, <span class=\"_ _49\"> </span>il <span class=\"_ _3c\"> </span>deconsolidamento <span class=\"_ _3c\"> </span>viene contabilizzato dalla data di effettiva perdita del con<span class=\"_ _0\"></span>trollo.  Nel <span class=\"_\"> </span>caso <span class=\"_\"> </span>di <span class=\"_\"> </span>conferimento <span class=\"_\"> </span>di <span class=\"_\"> </span>una <span class=\"_\"> </span>societ\u00e0 <span class=\"_\"> </span>controllata <span class=\"_\"> </span>in <span class=\"_\"> </span>una <span class=\"_\"> </span>societ\u00e0 <span class=\"_\"> </span>controllata <span class=\"_\"> </span>congiuntamente <span class=\"_\"> </span>o collegata, il <span class=\"_ _0\"></span>riconoscimento dell\u2019<span class=\"_ _0\"></span>utile o <span class=\"_ _0\"></span>della perdita <span class=\"_ _0\"></span>derivante dalla<span class=\"_ _0\"></span> perdita <span class=\"_ _0\"></span>del con<span class=\"_ _0\"></span>trollo viene con<span class=\"_ _0\"></span>tabilizzata a conto economico, cos\u00ec come previsto dall\u2019IFRS 10,<span class=\"_ _0\"></span> paragrafo 25. In tal caso:<span class=\"_ _0\"></span><span class=\"ff56\"> </span>a)<span class=\"ff58 ls0\"> <span class=\"_ _97\"> </span><span class=\"ff56\">sono <span class=\"_ _2e\"> </span>eliminate <span class=\"_ _2e\"> </span>con<span class=\"_ _0\"></span>tabilmente <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>attivit\u00e0 <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _2e\"> </span>della <span class=\"_ _2f\"> </span></span></span><span class=\"ff5a\">ex</span><span class=\"ls0\"> <span class=\"_ _2e\"> </span>controllata <span class=\"_ _2e\"> </span>dal <span class=\"_ _2e\"> </span>prosp<span class=\"_ _0\"></span>etto </span>consolidato della situazione patrimoniale<span class=\"_ _0\"></span>-finanziaria;  b)<span class=\"ff58 ls0\"> <span class=\"_ _95\"> </span><span class=\"ff56\">vi<span class=\"_ _0\"></span>ene <span class=\"_ _29\"></span>rilevata <span class=\"_ _29\"></span>qualsiasi <span class=\"_ _29\"></span>partecipazione <span class=\"_ _2b\"></span>m<span class=\"_ _0\"></span>antenuta nella <span class=\"_ _2b\"></span><span class=\"ff5a ls3\">ex<span class=\"ff56 ls0\"> controllata <span class=\"_ _2b\"></span>al rispettivo <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>alla </span></span></span></span></span></span>data <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>perdita <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>controllo <span class=\"_ _28\"></span>e, <span class=\"_ _2c\"> </span>successivamente, <span class=\"_ _2d\"> </span>viene <span class=\"_ _28\"></span>contabilizzata <span class=\"_ _2c\"></span>insieme <span class=\"_ _2c\"> </span>a <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>alsiasi ammontare dovuto dalla o alla <span class=\"ff5a ls3\">ex</span> controllata secondo<span class=\"_ _0\"></span> quanto previsto dai pertinenti IFRS. Tale fair value<span class=\"ff56\"> <span class=\"ff5d\">diventa la base per la successiva co<span class=\"_ _0\"></span>ntabilizzazione dell\u2019investimento;<span class=\"_ _0\"></span></span> </span>c) <span class=\"_ _97\"> </span>veng<span class=\"ff5d\">ono <span class=\"_ _2e\"> </span>rilevati <span class=\"_ _2e\"> </span>l\u2019utile <span class=\"_ _8b\"> </span>o <span class=\"_ _2e\"> </span>la <span class=\"_ _8b\"> </span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _8b\"> </span>correlati <span class=\"_ _2e\"> </span>alla <span class=\"_ _8b\"> </span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _8b\"> </span>del <span class=\"_ _2e\"> </span>controllo <span class=\"_ _2e\"> </span>attribuibile <span class=\"_ _8b\"> </span>all\u2019<span class=\"_ _0\"></span></span><span class=\"ff5a\">ex</span><span class=\"ls0\"> </span>partecipazione di maggioranza; d)<span class=\"ff58 ls0\"> <span class=\"_ _95\"> </span><span class=\"ff5d\">ven<span class=\"_ _0\"></span>gono <span class=\"_ _29\"></span>riclassificati <span class=\"_ _2b\"></span>n<span class=\"_ _0\"></span>el <span class=\"_ _29\"></span>prospetto <span class=\"_ _29\"></span>dell\u2019utile <span class=\"_ _2b\"></span>(p<span class=\"_ _0\"></span>erdita) <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">esercizio <span class=\"_ _29\"></span>o <span class=\"_ _29\"></span>trasferiti <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>negl<span class=\"_ _0\"></span>i </span></span></span>utili <span class=\"_ _0\"></span>portati <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>nuovo, <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>previsti <span class=\"_ _22\"></span>da <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>IFRS, <span class=\"_ _0\"></span>gli <span class=\"_ _22\"></span>ammontari <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>altre <span class=\"_ _22\"></span>componenti <span class=\"_ _0\"></span>di conto economico complessivo relativo alla ex contro<span class=\"_ _0\"></span>llata. Qualora <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>Capogruppo <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>qualifichi <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>\u201centit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>investimento\u201d <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>investimenti <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>controllate <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>n strumentali sono valutati al <span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir value</span> gli investimenti anche nel bilancio consolidato.<span class=\"_ _0\"></span>  In <span class=\"_ _23\"></span>caso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>perdita <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>qualifica <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>\u201centit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>investimento\u201d <span class=\"_ _23\"></span><span class=\"ff56\">i <span class=\"_ _23\"></span>bilanci <span class=\"_ _23\"></span>vengono <span class=\"_ _22\"></span>redatti <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>delle </span>previsioni <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>paragrafi <span class=\"_ _0\"></span>19<span class=\"_ _0\"></span>-<span class=\"ff5d\">24 <span class=\"_ _0\"></span>dell\u2019<span class=\"_ _0\"></span>IFRS, <span class=\"_ _0\"></span>ossia <span class=\"_ _0\"></span>proced<span class=\"_ _0\"></span>endo <span class=\"_ _0\"></span></span>al <span class=\"_ _22\"></span>consolidamento <span class=\"_ _0\"></span>integ<span class=\"_ _0\"></span>rale, <span class=\"_ _0\"></span>linea <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>lin<span class=\"_ _0\"></span>ea, <span class=\"_ _0\"></span>delle partecipazioni in societ\u00e0 controllate.<span class=\"_ _0\"></span> In sede di prima applicazion<span class=\"_ _0\"></span>e di tali disposizioni<span class=\"_ _0\"></span>, per <span class=\"_ _0\"></span>poter procedere al consolidamento <span class=\"_ _0\"></span>integrale delle partecipazioni <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2d\"> </span>controllate <span class=\"_ _2c\"></span>precedentemente <span class=\"_ _2d\"> </span>valutate <span class=\"_ _2c\"></span>a <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>, <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>applicano, <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>conformit\u00e0 <span class=\"_ _2d\"> </span>al paragrafo B100 dell\u2019IFRS 10, le previsioni contenute nell\u2019IFRS 3 \u2013<span class=\"ff56\"> Aggregazioni aziendali, ai sensi del quale </span>ogni <span class=\"_ _41\"> </span>aggregazione <span class=\"_ _3c\"> </span>aziendale <span class=\"_ _41\"> </span>deve <span class=\"_ _41\"> </span>essere <span class=\"_ _3c\"> </span>contabilizzata <span class=\"_ _41\"> </span>applicando <span class=\"_ _3c\"> </span>il <span class=\"_ _41\"> </span>metodo <span class=\"_ _41\"> </span>dell\u2019acqui<span class=\"_ _0\"></span>sizione, <span class=\"_ _41\"> </span>ossia procedendo, <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>altre <span class=\"_ _28\"></span>co<span class=\"_ _0\"></span>se, <span class=\"_ _28\"></span>(i) <span class=\"_ _28\"></span>alla <span class=\"_ _2c\"></span>determinazione <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>acquisizione, <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>(ii) <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>rilevazione <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>la valutazione dell\u2019avviamento o di un utile derivante da un<span class=\"_ _0\"></span> acquisto a prezzi favorevoli.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Nel <span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>aso <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>erdita <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>qualifica <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>en<span class=\"_ _0\"></span>tit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span>vestimento, <span class=\"_ _22\"></span>l\u2019applicazio<span class=\"_ _0\"></span>ne <span class=\"_ _22\"></span>dell\u2019IFRS <span class=\"_ _22\"></span>3 <span class=\"_ _22\"></span>prevede <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>la data <span class=\"_ _29\"></span>del <span class=\"_ _2b\"></span>cambio di <span class=\"_ _2b\"></span>stato (i.e. <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>data <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>cui la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _29\"></span>perde <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>qualifica di <span class=\"_ _2b\"></span>entit\u00e0 di <span class=\"_ _2b\"></span>investimento) <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>considerat<span class=\"_ _0\"></span>a come <span class=\"_ _2d\"> </span>data <span class=\"_ _2d\"> </span>di <span class=\"_ _2a\"> </span>acquisizione <span class=\"_ _2d\"> </span>presunta <span class=\"_ _2d\"> </span>della <span class=\"_ _2a\"> </span>partecipazione <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>il<span class=\"_ _0\"></span> <span class=\"ff5a\">fair <span class=\"_ _2a\"> </span>value <span class=\"_ _2d\"> </span></span>della <span class=\"_ _2d\"> </span>controllata <span class=\"_ _2d\"> </span>alla <span class=\"_ _2a\"> </span>data <span class=\"_ _2d\"> </span>di acquisizione presunta rappresenti il corrispettivo presunto trasferito ai fini <span class=\"_ _29\"></span>della identificazione delle attivit\u00e0 e passivit\u00e0 <span class=\"_ _2c\"> </span>sui <span class=\"_ _2d\"> </span>cui <span class=\"_ _2c\"> </span>allocare <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>\u201cprezzo\u201d <span class=\"_ _2c\"> </span>dell\u2019acquisizione <span class=\"_ _2d\"> </span>con <span class=\"_ _2c\"> </span>la <span class=\"_ _2c\"> </span>determinazione <span class=\"_ _2d\"> </span>dell\u2018avviamento <span class=\"_ _2d\"> </span>o <span class=\"_ _28\"></span>dell\u2019utile risultante da un acquisto a co<span class=\"ff5d\">nd<span class=\"_ _0\"></span>izioni favorevoli a seguito dell\u2019acquisizione presunta. <span class=\"_ _0\"></span></span> Area di consolidamento Al 31 <span class=\"_ _2b\"></span>dicembre 2021 e <span class=\"_ _2b\"></span>nel corso <span class=\"_ _29\"></span>dell\u2019esercizio 2021 <span class=\"_ _2b\"></span>non vi <span class=\"_ _29\"></span>erano so<span class=\"_ _29\"></span>ciet\u00e0 <span class=\"_ _29\"></span>controllate strumentali <span class=\"_ _29\"></span>incluse nel perimetro <span class=\"_ _29\"></span>di consolidamento <span class=\"_ _29\"></span>della Societ\u00e0, <span class=\"_ _29\"></span>in qua<span class=\"_ _29\"></span>nto in <span class=\"_ _29\"></span>data 31 <span class=\"_ _2b\"></span>m<span class=\"_ _0\"></span>arzo 2021 si <span class=\"_ _2b\"></span>era conclusa la liquidazione della <span class=\"_ _23\"></span>controllata <span class=\"_ _23\"></span>I2 <span class=\"_ _23\"></span>Capital<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>Partners <span class=\"_ _23\"></span>SGR <span class=\"_ _28\"></span>S.p.A., <span class=\"_ _23\"></span>consolidata <span class=\"_ _23\"></span>integralmente <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>bilancio <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre 2020. <span class=\"_ _0\"></span>Stante <span class=\"_ _0\"></span>l\u2019irri<span class=\"_ _0\"></span>levanza <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>flu<span class=\"_ _0\"></span>ssi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>controllata, <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>deconsolidamento <span class=\"_ _0\"></span>era <span class=\"_ _22\"></span>avve<span class=\"_ _0\"></span><span class=\"ff56\">nuto </span>alla <span class=\"_\"> </span>data <span class=\"_ _8b\"> </span>del <span class=\"_ _8b\"> </span>primo <span class=\"_ _8b\"> </span>gennaio <span class=\"_ _8b\"> </span>2021. <span class=\"_ _2e\"> </span>Al <span class=\"_\"> </span>31 <span class=\"_\"> </span>dicembre <span class=\"_ _8b\"> </span>2021<span class=\"_ _0\"></span>, <span class=\"_\"> </span>l\u2019area <span class=\"_\"> </span>di <span class=\"_ _2e\"> </span>consolidamento <span class=\"_\"> </span>includeva <span class=\"_ _2f\"> </span><span class=\"ff56\">pertanto </span>esclusivamente la Capogruppo.<span class=\"_ _0\"></span> La <span class=\"_ _8b\"> </span>Nuova <span class=\"_ _2e\"> </span>Strategia <span class=\"_ _2e\"> </span>ha <span class=\"_ _2e\"> </span>comportato <span class=\"_ _2e\"> </span>la <span class=\"_ _8b\"> </span>disapplicazi<span class=\"_ _0\"></span>one, <span class=\"_ _8b\"> </span>nella <span class=\"_ _2e\"> </span>redazione <span class=\"_ _2e\"> </span>dei <span class=\"_ _2e\"> </span>bilanci <span class=\"_ _2e\"> </span>della <span class=\"_ _8b\"> </span>Societ\u00e0,<span class=\"_ _0\"></span> dell\u2019IFRS <span class=\"_ _28\"></span>10 <span class=\"_ _2c\"> </span>relativo <span class=\"_ _2c\"> </span>alle <span class=\"_ _2c\"> </span><span class=\"ff5a\">investment <span class=\"_ _28\"></span>ent<span class=\"_ _0\"></span>ities<span class=\"ff56\"> <span class=\"_ _28\"></span></span></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>consegu<span class=\"_ _0\"></span>ente <span class=\"_ _28\"></span>espansione <span class=\"_ _2c\"> </span>dell\u2019area <span class=\"_ _28\"></span>di <span class=\"_ _2c\"> </span>consolidamento <span class=\"_ _2c\"> </span>del Gruppo, che <span class=\"_ _0\"></span>ricomprende anche <span class=\"_ _0\"></span>gli investimenti di<span class=\"_ _0\"></span> cont<span class=\"_ _0\"></span>rollo non <span class=\"_ _0\"></span>strumentali, tra cui, <span class=\"_ _0\"></span>in particolare, <span class=\"_ _0\"></span>KME SE<span class=\"_ _0\"></span> e <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>altre <span class=\"_ _2c\"></span>partecipazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>controllo <span class=\"_ _2d\"> </span>eventualmente <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"> </span>date <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>riferimento <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>quali <span class=\"_ _2c\"></span>non <span class=\"_ _2d\"> </span>sia applicabile un\u2019eccezione al consolidamento<span class=\"_ _0\"></span><span class=\"ff56\"> linea per linea</span>, quale quella prevista <span class=\"_ _0\"></span>dall\u2019IFRS 5<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span>Nello <span class=\"_ _2d\"> </span>specifico, <span class=\"_ _2d\"> </span>ai <span class=\"_ _2c\"></span>fini <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>predisposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _2d\"> </span>2022, <span class=\"_ _2d\"> </span>ci\u00f2 <span class=\"_ _2d\"> </span>ha comportato <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019effettuazione <span class=\"_ _23\"></span>del</span> <span class=\"_ _22\"></span><span class=\"ff5d\">consolidamento <span class=\"_ _22\"></span>linea <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>linea, <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>decorrere <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>\u201ccambio <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>stato\u201d <span class=\"_ _22\"></span>di </span>entit\u00e0 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>investimento <span class=\"_ _22\"></span>(22 <span class=\"_ _22\"></span>aprile <span class=\"_ _22\"></span>2022). <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>30<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>aprile <span class=\"_ _0\"></span>2022, <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _0\"></span>prossima <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quella <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>\u201ccambio <span class=\"_ _0\"></span>di stato\u201d \u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _29\"></span>quindi identificata <span class=\"_ _29\"></span>come <span class=\"_ _29\"></span>data di <span class=\"_ _29\"></span>primo co<span class=\"_ _29\"></span>nsolidame<span class=\"ff56\">nto delle partecipate <span class=\"_ _29\"></span>di seguito <span class=\"_ _29\"></span>rappresentate, </span>cui <span class=\"_ _23\"></span>l\u2019informat<span class=\"_ _0\"></span>iva <span class=\"_ _23\"></span>riportata <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>Bilancio <span class=\"_ _23\"></span>fa <span class=\"_ _28\"></span>riferimento <span class=\"_ _23\"></span>laddov<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>riportato <span class=\"_ _28\"></span>\u201cVariazione <span class=\"_ _28\"></span>area <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>consolidamento<span class=\"_ _22\"></span><span class=\"ff56\"> </span>IFRS <span class=\"_ _22\"></span>10<span class=\"ff5d\">\u201d; <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>front<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>primo <span class=\"_ _22\"></span>consolidamento, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>applicazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>3 <span class=\"_ _22\"></span>\u201cAggrega<span class=\"_ _0\"></span></span>zioni aziendali\u201d <span class=\"_ _2b\"></span>si <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>proceduto <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>svolgere <span class=\"_ _29\"></span>l\u2019allocazione <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ezzo <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>acquisto <span class=\"_ _2b\"></span>(\u201cPurchase <span class=\"_ _29\"></span>Price <span class=\"_ _2b\"></span>Allocation\u201d <span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>\u201cPPA\u201d, le <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>risultanze <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>sintetizzate <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>paragrafo <span class=\"_ _22\"></span>4.<span class=\"_ _0\"></span>3 <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>rapprentate <span class=\"_ _22\"></span>ne<span class=\"_ _0\"></span>lle <span class=\"_ _22\"></span>note <span class=\"_ _23\"></span>esplicative <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>singole <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ci <span class=\"_ _22\"></span>di bilancio come \u201cVariazioni<span class=\"ff56\"> </span>PPA\u201d) <span class=\"ff56\"> </span>Di seguito si fornisce l\u2019elenco delle societ\u00e0 con<span class=\"_ _0\"></span>solidate con il metodo integrale al <span class=\"_ _0\"></span><span class=\"ff56\">31 d<span class=\"_ _0\"></span>icembre 2022: </span>Denominazione  Sede Valuta % di possesso diretta indiretta KME Group SpA (gi\u00e0 Intek Group SpA) Italia Euro Capogruppo KME SE Germania Euro 10,00% 89% KMH SpA (gi\u00e0 KME Group Srl) Italia Euro 100,00% CULTI Milano SpA Italia Euro 77,17% Bakel Inc Stati Uniti USD<span class=\"ls0\"> </span>38,59% Bakel Srl Italia Euro 38,59% Bertram's GmbH Germania Euro 99,00% CULTI Milano Asia Ltd Hong Kong HKD<span class=\"ls0\"> </span>46,30% CULTI Milano China Ltd Cina RMB 46,30% Immobiliare Pictea S.r.l. Italia Euro 99,00% KME AssetCo GmbH Germania Euro 99,00% KME Germany GmbH Germania Euro 99,00% KME Grundst\u00fccksgesellschaft SE &amp; Co. KG Germania Euro 99,00% KME Italy S.p.A. Italia Euro 83,16% KME Mansfeld GmbH Germania Euro 99,00% KME Netherlands B.V.* Paesi Bassi Euro 99,00% KME Real Estate GmbH &amp; Co. <span class=\"ls62\">KG</span> Germania Euro 99,00% KME Recycle S.r.l. (in liquidation) Italia Euro 99,00% KME Rolled France S.A.S. Francia Euro 99,00% KME S.r.l. Italia Euro 99,00% KME Service Centre Italy S.p.A.* Italia Euro 99,00% KME Service Centre Slovakia s.r.o.<span class=\"ls1\">.*</span> Slovacchia Euro 99,00% KME Service Centre UK Ltd* Gran Bretagna GBP 99,00% KME Spain S.A.U. Spagna Euro 99,00% KME Special Holding GmbH Germania Euro 99,00% KME Special Products GmbH &amp; Co. <span class=\"ls62\">KG</span> Germania Euro 99,00% KME Yorkshire Ltd. Gran Bretagna GBP 99,00% KMETAL S.p.A. Italia Euro 99,00% Natural Capital Italia SpA Societ\u00e0 Benefit  Italia Euro 73,85% Scent Company Srl Italia Euro 39,36% Valika S.A.S. Francia Euro 50,49% * <span class=\"_ _23\"></span><span class=\"fs5 ls0\">Le <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Nethrlands <span class=\"_ _22\"></span>B.V.,<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>Service <span class=\"_ _22\"></span>Centre <span class=\"_ _23\"></span>Italy <span class=\"_ _22\"></span>SpA, <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>Service <span class=\"_ _23\"></span>Centre <span class=\"_ _22\"></span>UK <span class=\"_ _23\"></span>Ltd <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Service <span class=\"_ _23\"></span>Centre </span>Slovakia s.r.o. sono en<span class=\"_ _29\"></span>trate nell\u2019area di <span class=\"_ _29\"></span>consolidamento per <span class=\"_ _29\"></span>effetto dell\u2019esecuzione, in<span class=\"_ _29\"></span> data 29 lug<span class=\"_ _29\"></span>lio 2022, dell\u2019accordo <span class=\"_ _29\"></span>so<span class=\"ff56\">ttoscritto da </span>KME SE per l\u2019acquisto di parte del business prodotti laminati piani di Aurubis AG (\u201cAurubis\u201d).<span class=\"ff56 fs2\"> </span>Al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2022, <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>considerazion<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>prog<span class=\"_ _0\"></span>ramma <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>acquisto <span class=\"_ _23\"></span>azioni <span class=\"_ _23\"></span>proprie <span class=\"_ _23\"></span>posto <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>essere <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span> CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>SpA <span class=\"_ _22\"></span><span class=\"ff5d ls7\">(\u201c</span>CULTI<span class=\"ff5d ls3\">\u201d)<span class=\"_ _0\"></span></span>, <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>valle <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>arriv<span class=\"_ _0\"></span>ata <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>detenere <span class=\"_ _22\"></span>n. <span class=\"_ _22\"></span>369.750 <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>prop<span class=\"_ _0\"></span>rie, <span class=\"_ _22\"></span>l<span class=\"ls6\">a </span>percentuale in <span class=\"_ _2b\"></span>partecipazione in CULTI <span class=\"_ _2b\"></span>sale all<span class=\"ff5d\">\u201987,64%</span><span class=\"lsb\">, </span>calcolata <span class=\"_ _2b\"></span>sulle azioni <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>circolazione <span class=\"_ _29\"></span>e qui<span class=\"_ _29\"></span>ndi al <span class=\"_ _2b\"></span>netto delle <span class=\"_ _23\"></span>azioni <span class=\"_ _23\"></span>proprie <span class=\"_ _28\"></span>detenute <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>CULTI <span class=\"_ _23\"></span>stessa; <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>conseguenza <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quella <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>Bakel <span class=\"_ _23\"></span>Srl <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>Bakel <span class=\"_ _23\"></span>In<span class=\"_ _0\"></span>c <span class=\"_ _23\"></span>al 43,83%, quella in CULTI Asia Ltd e C<span class=\"_ _0\"></span>ULTI China Ltd al 52,58% e quella in <span class=\"_ _0\"></span>Scent Company Sr<span class=\"_ _0\"></span>l al 44,<span class=\"lsf\">69<span class=\"ls35\">%.</span></span> I valori contabil<span class=\"ls9\">i </span>relativi alle poste 2022 <span class=\"_ _29\"></span>del presente bilancio consolidato includono quindi i saldi delle<span class=\"_ _29\"></span> suddette societ\u00e0 e nello<span class=\"_ _0\"></span> specifico il saldo <span class=\"_ _0\"></span>di stato patrimoniale al 3<span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>dicembre 2022 di <span class=\"_ _0\"></span>tutte le societ\u00e0 e, <span class=\"_ _0\"></span>per le entit\u00e0 <span class=\"_ _28\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _2c\"></span>diverse <span class=\"_ _28\"></span>dalla <span class=\"_ _2c\"></span>Capogruppo <span class=\"_ _2c\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _2c\"></span><span class=\"ff5d\">che <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"> </span>confluite <span class=\"_ _28\"></span>nell\u2019area <span class=\"_ _2c\"> </span>di <span class=\"_ _28\"> </span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _28\"></span>del <span class=\"_ _2c\"> </span>Gruppo <span class=\"_ _28\"> </span>nel <span class=\"_ _2c\"> </span>corso </span>dell\u2019anno<span class=\"ff56\"> <span class=\"_ _2c\"> </span>in <span class=\"_ _2c\"></span>esame, <span class=\"_ _2d\"> </span>esclusivamente <span class=\"_ _28\"></span>i <span class=\"_ _2c\"> </span>f<span class=\"_ _0\"></span>lussi <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"></span>economico <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>successivi <span class=\"_ _2d\"> </span>alla <span class=\"_ _28\"></span>data <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>primo<span class=\"_ _0\"></span> </span>consolidamento.  In <span class=\"_ _22\"></span>termini <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>significativit\u00e0, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>principale <span class=\"_ _22\"></span>partecipazione <span class=\"_ _22\"></span>controllata <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>sede <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>G<span class=\"_ _0\"></span>ermania, capogruppo <span class=\"_ _97\"> </span>del <span class=\"_ _97\"> </span>gruppo <span class=\"_ _97\"> </span>KME, <span class=\"_ _97\"> </span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _97\"> </span>industriale <span class=\"_ _97\"> </span>europeo<span class=\"_ _0\"></span> <span class=\"_ _97\"> </span><span class=\"ff5a\">leader</span> <span class=\"_ _97\"> </span>mondiale <span class=\"_ _97\"> </span>nella <span class=\"_ _97\"> </span>prod<span class=\"_ _0\"></span>uzione <span class=\"_ _97\"> </span>e commercializzazione di prodotti in rame e leghe di <span class=\"_ _29\"></span>rame. Il gruppo KME \u00e8 <span class=\"_ _29\"></span>composto da diversi siti produttivi in Germania, Italia, <span class=\"_ _29\"></span>Francia, Spagna, Stati Uniti <span class=\"_ _29\"></span>e Cina <span class=\"_ _29\"></span>ed \u00e8 inoltre <span class=\"_ _29\"></span>rappresentato in <span class=\"_ _29\"></span>tutto il mondo da una fitta rete <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>agenti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>cen<span class=\"_ _0\"></span>tri <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>assistenza <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>soddisfare <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>esige<span class=\"_ _0\"></span>nze <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>client<span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali settori industriali. Alcune <span class=\"_ _2d\"> </span>societ\u00e0 <span class=\"_ _2a\"> </span>controllate <span class=\"_ _2d\"> </span>non <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2d\"> </span>incluse <span class=\"_ _2a\"> </span>nell\u2019area <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>quanto <span class=\"_ _2d\"> </span>l\u2019effetto <span class=\"_ _2a\"> </span>in 1Bilancio <span class=\"_ _2a\"> </span>no<span class=\"ff5d\">n <span class=\"_\"> </span>sarebbe <span class=\"_ _2d\"> </span>sign<span class=\"_ _0\"></span>ificativo <span class=\"_\"> </span>per<span class=\"_ _29\"></span> <span class=\"_ _2a\"> </span>l\u2019informativa <span class=\"_ _2a\"> </span>finanziaria</span>; <span class=\"_ _2a\"> </span>in <span class=\"_ _2a\"> </span>particolare, <span class=\"_ _2a\"> </span>la <span class=\"_ _2a\"> </span>pi\u00f9 <span class=\"_ _2a\"> </span>rilevante <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2a\"> </span>Intek Investimenti <span class=\"_ _22\"></span>SpA <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>attivo, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circa <span class=\"_ _22\"></span>lo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>0,4<span class=\"ff5d\">% <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>\u201cTotale <span class=\"_ _23\"></span>Attivit\u00e0\u201d <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>Bilancio <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span></span>31<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22, <span class=\"_ _22\"></span>\u00e8 rappresentato <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>lo <span class=\"_ _2c\"></span>pi\u00f9 <span class=\"_ _28\"></span>da <span class=\"_ _2c\"></span>partecipazioni <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _28\"></span>d<span class=\"_ _0\"></span>i <span class=\"_ _28\"></span>controllo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>sarebbero <span class=\"_ _2c\"></span>confluite <span class=\"_ _2c\"></span>- <span class=\"_ _28\"></span>anche <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>presenza <span class=\"_ _28\"></span>di consolidamento <span class=\"_ _2f\"> </span>in<span class=\"_ _0\"></span>tegrale <span class=\"_ _41\"> </span>- <span class=\"_ _2f\"> </span><span class=\"ff5d\">nella <span class=\"_ _41\"> </span>voce <span class=\"_ _41\"> </span>\u201cPartecipazioni\u201d <span class=\"_ _41\"> </span>e <span class=\"_ _2f\"> </span>il <span class=\"_ _41\"> </span>cui <span class=\"_ _41\"> </span>bilancio <span class=\"_ _41\"> </span>non <span class=\"_ _2f\"> </span>presenta <span class=\"_ _41\"> </span>ulteriori <span class=\"_ _41\"> </span>poste </span>significative. La societ\u00e0 <span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>mericana <span class=\"_ _0\"></span>Bakel <span class=\"_ _0\"></span>Inc., <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>appartenente <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>CULTI <span class=\"_ _0\"></span>deputata <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>distribuzione <span class=\"_ _0\"></span>nel mercato americano <span class=\"_ _2b\"></span>del prodotto Bakel <span class=\"_ _2b\"></span>3D\u00ae, ha <span class=\"_ _29\"></span>avviato <span class=\"_ _29\"></span>la <span class=\"_ _29\"></span>propria <span class=\"_ _29\"></span>operativit\u00e0 a <span class=\"_ _2b\"></span>maggio 2022 <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>quindi, <span class=\"_ _29\"></span>essendo an<span class=\"ls0\">cora <span class=\"_ _2c\"></span>in <span class=\"_ _2d\"> </span>fase <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>start-<span class=\"ls1\">up</span> <span class=\"_ _28\"></span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _2d\"> </span>2022, <span class=\"_ _28\"></span>pr<span class=\"_ _0\"></span>esenta <span class=\"_ _2c\"></span>valori <span class=\"_ _2c\"> </span>e<span class=\"_ _0\"></span>conomici <span class=\"_ _2c\"></span>non <span class=\"_ _2d\"> </span>significativi; <span class=\"_ _28\"></span>nel <span class=\"_ _2d\"> </span>trascorso </span>esercizio, <span class=\"_\"> </span>infatti, <span class=\"_ _2a\"> </span>sono <span class=\"_ _2a\"> </span>stati <span class=\"_\"> </span>sostenuti <span class=\"_ _2a\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2a\"> </span>preliminari <span class=\"_ _2a\"> </span>alle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_ _2a\"> </span>di <span class=\"_ _2a\"> </span>vendita <span class=\"_ _2a\"> </span>dell\u2019innovativo prodotto, i cui sviluppi commerciali sono attesi nella seconda p<span class=\"_ _0\"></span>arte del 2023.<span class=\"_ _0\"></span> Si <span class=\"_ _22\"></span>segnala <span class=\"_ _0\"></span>ch<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>dell\u2019articolo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>264b <span class=\"_ _22\"></span>HGB <span class=\"_ _0\"></span>(German <span class=\"_ _22\"></span>Commercial <span class=\"_ _22\"></span>Code) <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>controllate <span class=\"_ _22\"></span>indirette KME <span class=\"_ _8b\"> </span>Special <span class=\"_ _2e\"> </span>Produ<span class=\"_ _0\"></span>cts <span class=\"_ _8b\"> </span>GmbH <span class=\"_ _2e\"> </span>&amp; <span class=\"_ _2e\"> </span>Co. <span class=\"_ _2e\"> </span>KG, <span class=\"_ _2e\"> </span>Osnab<span class=\"_ _0\"></span>r\u00fcck, <span class=\"_ _8b\"> </span>KME <span class=\"_ _2e\"> </span>Grundst\u00fc<span class=\"_ _0\"></span>cksgesellschaft <span class=\"_ _8b\"> </span>S<span class=\"_ _0\"></span>E <span class=\"_ _8b\"> </span>&amp; <span class=\"_ _2e\"> </span>Co. <span class=\"_ _2e\"> </span>KG, Osnabr\u00fcck <span class=\"_ _2c\"></span>e <span class=\"_ _2d\"> </span>KME <span class=\"_ _28\"></span>Real <span class=\"_ _2d\"> </span>Estate <span class=\"_ _28\"></span>GmbH <span class=\"_ _2d\"> </span>&amp; <span class=\"_ _28\"></span>Co. <span class=\"_ _2d\"> </span>KG, <span class=\"_ _2c\"></span>Osnabr\u00fcck, <span class=\"_ _2d\"> </span>KME <span class=\"_ _2c\"></span>Germany <span class=\"_ _2c\"></span>Gm<span class=\"_ _0\"></span>bH, <span class=\"_ _2c\"></span>Osnabr\u00fcck, <span class=\"_ _2d\"> </span>KME Mansfeld GmbH, Hettstedt non rendono pubblici i propri bilanci.<span class=\"_ _0\"></span> Le previsioni di legge tedesche (\u00a7 264b No. 3 HGB and \u00a7 264 <span class=\"_ _0\"></span>(3) No. 3 HGB), <span class=\"_ _0\"></span>richiedono in tali <span class=\"_ _0\"></span>casi l\u2019indicazione che la controllata <span class=\"_ _0\"></span>diretta KME SE e le<span class=\"_ _0\"></span> sue <span class=\"_ _29\"></span>controllate <span class=\"_ _2b\"></span>KME Special <span class=\"_ _2b\"></span>Products GmbH <span class=\"_ _2b\"></span>&amp; <span class=\"_ _29\"></span>Co. <span class=\"_ _29\"></span>KG, <span class=\"_ _2b\"></span>KME Grundst\u00fccksgesellschaft <span class=\"_ _2b\"></span>SE &amp; <span class=\"_ _2b\"></span>Co. KG <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>KME Real <span class=\"_ _23\"></span>Estate <span class=\"_ _23\"></span>GmbH <span class=\"_ _23\"></span>&amp; <span class=\"_ _23\"></span>Co. <span class=\"_ _23\"></span>KG, <span class=\"_ _23\"></span>KME <span class=\"_ _28\"></span>Germany <span class=\"_ _23\"></span>GmbH, <span class=\"_ _23\"></span>Osnabr\u00fcck, <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Ma<span class=\"_ _0\"></span>nsfeld <span class=\"_ _23\"></span>GmbH, <span class=\"_ _23\"></span>Hettstedt <span class=\"_ _23\"></span>siano incluse nel bilancio consolidato di KME Group <span class=\"_ _0\"></span>S.p.A.. Di <span class=\"_ _22\"></span>seguito <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _22\"></span>controllate <span class=\"_ _23\"></span>incluse <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>perimetro <span class=\"_ _23\"></span>IFRS <span class=\"_ _22\"></span>5 <span class=\"_ _22\"></span>(attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>dismissione) <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ls1\">31 </span>dicembre <span class=\"ls1\">2022:</span> Denominazione  Sede Valuta % di possesso diretta indiretta Serravalle Copper Tubes Italy Srl Italia Euro 99,00% Trefimetaux SAS Francia Euro 99,00% 2.5.2.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Entit\u00e0 collegate </span></span>Le <span class=\"_ _2b\"></span>collegate <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>tutte <span class=\"_ _29\"></span>le <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>sulle <span class=\"_ _2b\"></span>quali <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _2b\"></span>esercita <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span>\u2019influenza <span class=\"_ _2b\"></span>notevole <span class=\"_ _2b\"></span>ma <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>controllo. L\u2019influenza <span class=\"_ _2c\"> </span>notevole <span class=\"_ _2c\"> </span>\u00e8 <span class=\"_ _2c\"> </span>presunta <span class=\"_ _2c\"> </span>quando <span class=\"_ _28\"> </span>la <span class=\"_ _2c\"> </span>Societ\u00e0 <span class=\"_ _2c\"> </span>possiede, <span class=\"_ _2c\"> </span>direttamente <span class=\"_ _2c\"> </span>o <span class=\"_ _2c\"> </span>indirettamente <span class=\"_ _2c\"> </span>tramite <span class=\"_ _2c\"> </span>societ<span class=\"_ _0\"></span>\u00e0 controllate, il <span class=\"_ _2b\"></span>20% o <span class=\"_ _2b\"></span>u<span class=\"_ _0\"></span><span class=\"ff5d\">na quota <span class=\"_ _2b\"></span>maggiore dei <span class=\"_ _29\"></span>voti <span class=\"_ _29\"></span>nell\u2019assemblea <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>partecipata. Le <span class=\"_ _2b\"></span>partecipazioni in <span class=\"_ _29\"></span>societ\u00e0 </span>collegate <span class=\"_ _2a\"> </span>sono <span class=\"_\"> </span>consolidate <span class=\"_ _2d\"> </span>con <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>metodo <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>patrimon<span class=\"_ _0\"></span>io <span class=\"_\"> </span>netto. <span class=\"_ _2d\"> </span>Con <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>metodo <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto, <span class=\"_ _2d\"> </span>la partecipazione \u00e8 inizialmente rilevata al costo successivamente <span class=\"_ _0\"></span>rettificato per registrare la quota spettante alla controllante <span class=\"_ _23\"></span>negli <span class=\"_ _23\"></span>utili <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>maturati <span class=\"_ _23\"></span>successivamente <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisizio<span class=\"_ _0\"></span>ne<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>e/o <span class=\"_ _28\"></span>eventuali <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di valore. I dividendi ricevuti riducono il valore con<span class=\"_ _0\"></span>tabile della partecipazione. <span class=\"_ _0\"></span> Denominazion<span class=\"ls1d\">e </span> Sede Valuta % di possesso diretta indiretta Azienda Metalli Laminati S.p.A. Italia Euro 23,96% Dynamo Academy S.r.l. Impresa Sociale Italia Euro 24,75% 1 <span class=\"_\"> </span><span class=\"ff5a\">I <span class=\"_ _8b\"> </span>principi <span class=\"_\"> </span>contabili <span class=\"_\"> </span>non <span class=\"_\"> </span>stabiliscono <span class=\"_\"> </span>alcun <span class=\"_ _8b\"> </span>limite <span class=\"_\"> </span>quantitativo <span class=\"_\"> </span>inferiore <span class=\"_\"> </span>per <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span><span class=\"lsf\">non</span> <span class=\"_\"> </span>consolidamento; <span class=\"_\"> </span>tuttavia, <span class=\"_\"> </span>i<span class=\"_ _0\"></span>l </span>\u201cConceptual <span class=\"_ _29\"></span>Framework\u201d<span class=\"ff5a\"> <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>elinea <span class=\"_ _29\"></span>il c<span class=\"_ _29\"></span>oncetto <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>rilevanza <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>significativit\u00e0 <span class=\"_ _2b\"></span>ai fini dell'i<span class=\"_ _29\"></span>nformativa <span class=\"_ _29\"></span>finanziaria<span class=\"_ _29\"></span> <span class=\"ff5e\">nell\u2019ambito </span></span>della corretta presentazione <span class=\"_ _29\"></span>del bilancio richiesta dal p<span class=\"_ _29\"></span>aragrafo 15 dello IAS 1.<span class=\"ff56\"> </span>2.5.3.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Joint Venture </span></span>Una <span class=\"_ _2d\"> </span><span class=\"ff5a\">joint <span class=\"_ _2d\"> </span>venture</span> <span class=\"_ _2d\"> </span><span class=\"ff5d\">\u00e8 <span class=\"_ _2d\"> </span>un <span class=\"_ _2d\"> </span>accordo <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>trattuale <span class=\"_ _2d\"> </span>con <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>quale <span class=\"_ _2d\"> </span>due <span class=\"_ _2c\"> </span>o <span class=\"_ _2d\"> </span>pi\u00f9 <span class=\"_ _2d\"> </span>parti <span class=\"_ _2d\"> </span>intraprendono <span class=\"_ _2d\"> </span>un\u2019attivit\u00e0 </span>economica <span class=\"_ _97\"> </span>sottoposta <span class=\"_ _44\"> </span>a <span class=\"_ _97\"> </span>controllo <span class=\"_ _97\"> </span>con<span class=\"_ _0\"></span>giunto. <span class=\"_ _97\"> </span>Il <span class=\"_ _44\"> </span>controllo <span class=\"_ _97\"> </span>congiunto <span class=\"_ _44\"> </span>\u00e8 <span class=\"_ _97\"> </span>la <span class=\"_ _97\"> </span>condivisione, <span class=\"_ _44\"> </span>stabilita contrattualmente, <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>trollo <span class=\"_ _0\"></span>su <span class=\"_ _0\"></span>un\u2019attivit\u00e0 <span class=\"_ _0\"></span>economica. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span><span class=\"ff5a\">joint <span class=\"_ _22\"></span>venture<span class=\"ff56\"> <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>solidate <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>metodo <span class=\"_ _0\"></span>del </span></span>patrimonio netto cos\u00ec come previsto dall\u2019IFRS 11 paragrafo <span class=\"_ _0\"></span>24. <span class=\"ff56\"> </span>Denominazione  Sede Valuta % di possesso diretta indiretta KMD (HK) Holding Limited Hong Kong HKD<span class=\"ls0\"> </span>49,50% KMD Connectors Stolberg GmbH Germania Euro 49,50% KMD Precise Copper Strip Co. <span class=\"ls36\">Ltd</span> Cina RMB 49,50% Magnet Joint Venture Gmbh Germania Euro 44,55% L\u2019entit\u00e0 Magnet Joint Venture Gmbh \u00e8 relativa al busin<span class=\"_ _0\"></span>ess degli Speciali, il cui controllo (55%) era stato ceduto da KME SE a Paragon <span class=\"_ _0\"></span>con data di efficacia 31 gennaio 2022.<span class=\"_ _0\"></span> 2.5.4.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff61\">Variazioni dell\u2019area di consolidamento<span class=\"_ _0\"></span><span class=\"ff5c\"> </span></span></span>Nella <span class=\"_ _2b\"></span>redazio<span class=\"_ _0\"></span>ne <span class=\"_ _2b\"></span>del presente <span class=\"_ _2b\"></span>Bilancio <span class=\"_ _2b\"></span>le partecipazioni <span class=\"_ _2b\"></span>di controllo <span class=\"_ _2b\"></span>(KME <span class=\"_ _2b\"></span>Group <span class=\"_ _29\"></span>Srl, <span class=\"_ _2b\"></span>KME SE <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>CULTI Milano <span class=\"_ _2b\"></span>SpA) <span class=\"_ _29\"></span>detenute <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>investimento <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>parte <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>Capogruppo, <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>sino <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5d\">\u201ccambio <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>stato\u201d <span class=\"_ _2b\"></span>erano <span class=\"_ _2b\"></span>valutat<span class=\"_ _0\"></span>e<span class=\"ff56\"> </span></span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value<span class=\"_ _0\"></span> <span class=\"_\"> </span></span>anche <span class=\"_ _8b\"> </span>nel <span class=\"_\"> </span>b<span class=\"_ _0\"></span>ilancio <span class=\"_\"> </span>consolidato<span class=\"_ _0\"></span>, <span class=\"_\"> </span>sono <span class=\"_\"> </span>state <span class=\"_\"> </span>og<span class=\"_ _0\"></span>getto <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>consolidamento <span class=\"_\"> </span>in<span class=\"_ _0\"></span>tegrale <span class=\"_\"> </span>(si <span class=\"_\"> </span>facci<span class=\"_ _0\"></span>a riferimento <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>\u201cVariazione <span class=\"_ _28\"></span>per <span class=\"_ _28\"> </span>Entit\u00e0 <span class=\"_ _2c\"> </span>di <span class=\"_ _28\"></span>Investimento\u201d <span class=\"_ _28\"> </span><span class=\"ff56\">rappresenta<span class=\"_ _0\"></span>ta <span class=\"_ _28\"></span>nella <span class=\"_ _28\"></span>tabella <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>nota <span class=\"_ _28\"></span>esplicativa <span class=\"_ _28\"></span>4.4 </span>relativa <span class=\"_ _22\"></span>alle <span class=\"_ _22\"></span>Partecipazioni); <span class=\"_ _22\"></span>contestualmente <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>proceduto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>consolidamento <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>saldi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>tali <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _23\"></span>incluse nel <span class=\"_\"> </span>perimetro <span class=\"_\"> </span>di <span class=\"_\"> </span>consolidamento <span class=\"_\"> </span>registran<span class=\"_ _0\"></span>do <span class=\"_\"> </span><span class=\"ff5d\">un <span class=\"_\"> </span>incremento <span class=\"_\"> </span>dei <span class=\"_\"> </span>saldi <span class=\"_\"> </span>patrimon<span class=\"_ _0\"></span>iali <span class=\"_\"> </span>(\u201cVaria</span>zione <span class=\"_\"> </span>area <span class=\"_ _8b\"> </span>di consolidamento <span class=\"_\"> </span>IFRS <span class=\"_\"> </span>10<span class=\"ff5d\">\u201d <span class=\"_ _2a\"> </span>rappresentata <span class=\"_\"> </span>nelle <span class=\"_ _2a\"> </span>tabelle <span class=\"_ _2a\"> </span>delle <span class=\"_\"> </span>note <span class=\"_ _2a\"> </span>esplicative).</span> <span class=\"_\"> </span>Il <span class=\"_\"> </span>consolidamento <span class=\"_ _2a\"> </span>dei <span class=\"_\"> </span>dati contabili <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>partire <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>bilanci <span class=\"_ _22\"></span>subconsolidati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>CULTI, <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esente Bilancio <span class=\"_ _22\"></span>Consolidato <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rappresentati <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>gruppo <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>gruppo <span class=\"_ _23\"></span>CULTI, <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>fanno <span class=\"_ _22\"></span>capo <span class=\"_ _22\"></span>peraltro <span class=\"_ _22\"></span>le due Cash Generating Unit identificate dalla Societ\u00e0 (r<span class=\"_ _0\"></span>ispettivamente \u201cRame\u201d e \u201cProfumi e cosmesi\u201d)<span class=\"_ _0\"></span><span class=\"ff56\">. </span>Rispetto <span class=\"_\"> </span>alla <span class=\"_\"> </span>data <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>primo <span class=\"_ _2a\"> </span>consolidamento <span class=\"_\"> </span>(30 <span class=\"_\"> </span>aprile <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span>quale <span class=\"_\"> </span><span class=\"ff5d\">data <span class=\"_\"> </span>di <span class=\"_\"> </span>\u201cca<span class=\"_ _29\"></span>mbio<span class=\"ff56\"> <span class=\"_\"> </span></span>di <span class=\"_\"> </span>stato\u201d), <span class=\"_\"> </span><span class=\"ff56\">si </span></span>evidenziano le seg<span class=\"ff5d\">uenti variazioni dell\u2019area di conso<span class=\"_ _0\"></span>ldiamento</span> <span class=\"ff5d\">avvenute nel corso<span class=\"_ _0\"></span> dell\u2019esercizio</span>: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">sono uscite dal <span class=\"_ _0\"></span>perimetro di <span class=\"_ _0\"></span>consolidamento <span class=\"_ _0\"></span>Ilnor <span class=\"_ _0\"></span>Srl (entit\u00e0 <span class=\"_ _0\"></span>fusa in <span class=\"_ _0\"></span>KME Italy <span class=\"_ _0\"></span>SpA <span class=\"_ _0\"></span>il 1\u00b0 <span class=\"_ _0\"></span>luglio </span></span>2022 <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>effetto <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economico <span class=\"_ _23\"></span>retroattivo <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>1\u00b0 <span class=\"_ _22\"></span>gennaio <span class=\"_ _23\"></span>2022) <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Chile <span class=\"_ _23\"></span>Limitada (entit\u00e0 sciolta in data 15 luglio 2022)<span class=\"_ _0\"></span>; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">sono <span class=\"_ _23\"></span>entrate <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>perimetro <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>consolidamento <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Nethrlands <span class=\"_ _23\"></span>B.V., <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Service </span></span>Centre <span class=\"_ _29\"></span>Italy <span class=\"_ _29\"></span>SpA, KME <span class=\"_ _2b\"></span>Service Centre <span class=\"_ _2b\"></span>UK Ltd <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>KME <span class=\"_ _29\"></span>Service <span class=\"_ _29\"></span>Centre <span class=\"_ _29\"></span>Slovakia <span class=\"_ _29\"></span>s.r.o., in <span class=\"_ _2b\"></span>data 29 luglio <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>effetto <span class=\"_ _2a\"> </span>dell\u2019esecuzione <span class=\"_\"> </span>dell\u2019accordo <span class=\"_ _2a\"> </span>firmato <span class=\"_ _2a\"> </span>con <span class=\"_\"> </span>Aurubis, <span class=\"_ _2a\"> </span>finalizzato<span class=\"ff56\"> <span class=\"_\"> </span><span class=\"ls1\">dopo </span></span>l'approvazione <span class=\"_ _0\"></span>da parte <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>autorit\u00e0 <span class=\"_ _0\"></span>competenti <span class=\"_ _0\"></span>per il <span class=\"_ _0\"></span>controllo <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>fusioni nel <span class=\"_ _0\"></span>maggio <span class=\"_ _0\"></span>2022; tali <span class=\"_ _2b\"></span>saldi <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>rappresentati <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>movimentazione <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>immobilizzazioni <span class=\"_ _2b\"></span>come <span class=\"_ _2b\"></span>\u201cVariazione <span class=\"_ _2b\"></span>area di <span class=\"_ _2d\"> </span>consolidamento <span class=\"_ _2a\"> </span>KME <span class=\"_ _2d\"> </span>SE\u201d <span class=\"_ _2d\"> </span>rappresentata <span class=\"_ _2a\"> </span><span class=\"ff56\">in <span class=\"_ _2d\"> </span>alcune <span class=\"_ _2d\"> </span>tabelle <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>movimentazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2a\"> </span>note </span>esplicative <span class=\"ff5d\">(\u201cVariazione area di consoli</span>damento KME SE<span class=\"ff5d\">\u201d rappresentata nelle tabelle delle note </span>esplicative). Tramite <span class=\"_ _2b\"></span>questo <span class=\"_ _2b\"></span>accordo <span class=\"_ _2b\"></span>KME <span class=\"_ _2b\"></span>SE <span class=\"_ _29\"></span>ha <span class=\"_ _2b\"></span>quindi <span class=\"_ _2b\"></span>completato <span class=\"_ _2b\"></span>l'acquisto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>parte <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Aurubis nel <span class=\"_ _29\"></span>settore <span class=\"_ _2b\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>laminati <span class=\"_ _2b\"></span>piani. Il <span class=\"_ _2b\"></span>prezzo pagato <span class=\"_ _2b\"></span>per l'acquisto <span class=\"_ _2b\"></span>\u00e8 di <span class=\"_ _2b\"></span>Euro <span class=\"ls1\">19<span class=\"lsd\">,4</span></span> <span class=\"_ _2b\"></span>milioni anche <span class=\"_ _2b\"></span>a fronte di <span class=\"_ _2b\"></span>disponibilit\u00e0 <span class=\"_ _2b\"></span>liqui<span class=\"_ _0\"></span>de <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>8,5 <span class=\"_ _2b\"></span>milioni <span class=\"_ _29\"></span>nelle <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>acquisite <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>l <span class=\"_ _2b\"></span><span class=\"ff5a\">closing<span class=\"ff56\">. <span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>KME </span></span>SE <span class=\"_ _3c\"> </span><span class=\"ls0\">ha <span class=\"_ _49\"> </span>in<span class=\"_ _0\"></span>oltre <span class=\"_ _3c\"> </span>rimbo<span class=\"_ _0\"></span>rsato <span class=\"_ _49\"> </span>ad <span class=\"_ _49\"> </span>Aurubis <span class=\"_ _3c\"> </span>un<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>pr<span class=\"_ _0\"></span>estito <span class=\"_ _49\"> </span>intersocietario <span class=\"_ _49\"> </span>di <span class=\"_ _46\"> </span>Euro <span class=\"_ _3c\"> </span>53,4 <span class=\"_ _49\"> </span>milioni, </span>corrispondente <span class=\"_ _2b\"></span>a un <span class=\"_ _2b\"></span>pari <span class=\"_ _2b\"></span>impo<span class=\"_ _0\"></span>rto <span class=\"_ _2b\"></span>di capitale <span class=\"_ _2b\"></span>circolante <span class=\"_ _2b\"></span>net<span class=\"_ _0\"></span>to <span class=\"_ _29\"></span>nelle <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>target al <span class=\"_ _2b\"></span>momento <span class=\"_ _29\"></span>della chiusura. Con <span class=\"_ _23\"></span>riferimento <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>suddette <span class=\"_ _23\"></span>entit\u00e0, <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riportano<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>seguito <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>iscritte <span class=\"_ _23\"></span>in bilancio <span class=\"ff5d\">in seguito all\u2019allocazione del pr<span class=\"_ _0\"></span>ezzo di acquisto (Purchase Price Allocation <span class=\"_ _0\"></span>o \u201cPPA\u201d)<span class=\"_ _0\"></span></span>: (in migliaia di Euro) Post PPA di cui effetti PPA 69.448  39.832  Immobili, impianti e macc<span class=\"_ _29\"></span>hinari 688   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 immateriali 14.750  12.631  Attivit\u00e0 per imposte differite<span class=\"_ _29\"></span> 57.507   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Rimanenze 32.857   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Crediti commerciali 15.070   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 finanziarie correnti 2.075   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri crediti ed attivit\u00e0 correnti 8.516   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 200.911  52.463  Totale Attivit\u00e0 (700)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Benefici ai dipendenti (14.597) (10.277) Passivit\u00e0 per imposte differite (914)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (61.204)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (48.695)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti verso fornitori (8.813)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 correnti (150)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Fondi per rischi ed oneri (135.073) (10.277) Totale Passivit\u00e0 65.838  42.186  Totale Attivit\u00e0 (Passivit\u00e0) nette",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__24": {
   "value": "2.5.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Principi di consolidamento Il <span class=\"_ _2d\"> </span><span class=\"ls0\">bilancio<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_\"> </span>al<span class=\"_ _29\"></span> <span class=\"_ _2d\"> </span>31 <span class=\"_ _2a\"> </span>dicembre <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2a\"> </span>riflette <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>consolidamento <span class=\"_ _2d\"> </span>della <span class=\"_ _2a\"> </span>Capogruppo <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>delle <span class=\"_ _2a\"> </span>societ\u00e0 </span>direttamente ed indirettamente controllate, controllate con<span class=\"_ _0\"></span>giuntamente o collegate. <span class=\"_ _0\"></span> Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>cui <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>prevista <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span><span class=\"ff5d\">dismissione <span class=\"_ _28\"></span>vengo<span class=\"_ _0\"></span>no <span class=\"_ _28\"></span>riclassificate <span class=\"_ _28\"></span>nelle <span class=\"_ _28\"></span>voci <span class=\"_ _28\"></span>dell\u2019attivo <span class=\"_ _28\"> </span>e <span class=\"_ _28\"> </span>de<span class=\"_ _0\"></span>l </span>passivo <span class=\"_ _0\"></span>destinate <span class=\"_ _0\"></span>ad <span class=\"_ _0\"></span>evidenziare <span class=\"_ _0\"></span>tali <span class=\"_ _0\"></span>fattispecie <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>relativi <span class=\"_ _0\"></span>effetti <span class=\"_ _0\"></span>economici <span class=\"_ _0\"></span>vengono <span class=\"_ _0\"></span>esposti <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>separata <span class=\"_ _0\"></span>voce di conto economico<span class=\"lsb\">. </span> 2.5.1.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Entit\u00e0 controllate </span></span>Le controllate sono tutte le societ\u00e0 sulle <span class=\"_ _0\"></span>quali la Capogruppo ha contemporanea<span class=\"_ _0\"></span>mente: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il <span class=\"_ _0\"></span>potere <span class=\"_ _0\"></span>cio\u00e8 <span class=\"_ _0\"></span>detiene <span class=\"_ _0\"></span>valid<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>diritti <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>conferiscono <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>capacit\u00e0 <span class=\"_ _22\"></span>attuale <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>dirigere <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span><span class=\"ff5a\">at<span class=\"_ _0\"></span>tivit\u00e0 </span></span></span>rilevanti<span class=\"ff56\">, ossia le attivit\u00e0 che incidono <span class=\"_ _0\"></span>in maniera significativa sui rendimenti;<span class=\"_ _0\"></span> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">l\u2019esposizione o i diri<span class=\"ff56\">tti a rendimenti v<span class=\"_ _0\"></span>ariabili derivanti dal rapporto con la stessa;<span class=\"_ _0\"></span> </span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">la capacit\u00e0 di esercitare il proprio potere<span class=\"_ _0\"></span> per incidere sull'ammontare dei suoi ren<span class=\"_ _0\"></span>dimenti. </span></span>Le <span class=\"_ _2c\"></span>attivit\u00e0, <span class=\"_ _2d\"> </span>le <span class=\"_ _28\"></span>passivit\u00e0, <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"></span>oneri <span class=\"_ _2c\"> </span>ed <span class=\"_ _2d\"> </span>i <span class=\"_ _2c\"></span>proventi <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>imprese <span class=\"_ _2c\"></span>controllate <span class=\"_ _2c\"></span>consolidate <span class=\"_ _2d\"> </span>con <span class=\"_ _2c\"></span>il <span class=\"_ _2c\"></span>me<span class=\"_ _0\"></span>todo integrale <span class=\"_ _29\"></span>sono ass<span class=\"_ _29\"></span>unti inte<span class=\"_ _29\"></span>gralmente <span class=\"_ _29\"></span>nel <span class=\"_ _29\"></span>bilancio <span class=\"_ _29\"></span>consolidato; il<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>delle partecipazioni <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>eliminato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>fronte della <span class=\"_ _28\"></span>corrisponden<span class=\"_ _0\"></span>te <span class=\"_ _28\"></span>frazione <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>patrimonio <span class=\"_ _2c\"></span>netto <span class=\"_ _28\"></span>delle <span class=\"_ _2c\"></span>imprese <span class=\"_ _28\"></span>partecipate <span class=\"_ _2c\"></span>attribuendo <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>singoli <span class=\"_ _28\"></span>elementi dell\u2019attivo e <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>passivo patrimoniale <span class=\"_ _29\"></span>il loro <span class=\"_ _2b\"></span>valore corrente alla <span class=\"_ _29\"></span>data d\u2019acquisizione <span class=\"_ _2b\"></span>del controllo. L\u2019eventuale differenza residua, <span class=\"_ _0\"></span>se po<span class=\"_ _0\"></span>sitiva, \u00e8 <span class=\"_ _0\"></span>iscritta nella <span class=\"_ _0\"></span>voce dell\u2019<span class=\"_ _0\"></span>attivo \u201cavviamento\u201d; <span class=\"_ _0\"></span>se negativa, <span class=\"_ _0\"></span>a conto<span class=\"_ _0\"></span> economico. Le <span class=\"_ _28\"></span>quote <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto <span class=\"_ _28\"> </span>e <span class=\"_ _28\"> </span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>competenza<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>minoranze <span class=\"_ _28\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>iscritte <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>apposite <span class=\"_ _28\"></span>voci <span class=\"_ _28\"></span>di </span>bilancio. <span class=\"_\"> </span>Dopo <span class=\"_\"> </span>la<span class=\"_ _29\"></span> <span class=\"_\"> </span>rilevazione <span class=\"_ _2a\"> </span>iniziale, <span class=\"_ _2a\"> </span>l\u2019\u201cavviamento\u201d <span class=\"_\"> </span>\u00e8 <span class=\"_ _2a\"> </span>valutato <span class=\"_ _2a\"> </span>secondo <span class=\"_\"> </span>quanto <span class=\"_ _2a\"> </span>previsto <span class=\"_\"> </span>dallo <span class=\"_\"> </span><span class=\"ff5a\">IAS <span class=\"_ _2a\"> </span>36<span class=\"ff56\"> </span></span>Riduzione di valore delle attivit\u00e0.<span class=\"_ _0\"></span> Dall\u2019area <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _2e\"> </span>restano <span class=\"_ _2f\"> </span>escluse <span class=\"_ _8b\"> </span>le <span class=\"_ _2f\"> </span>controllate <span class=\"_ _2e\"> </span>non <span class=\"_ _2f\"> </span>sig<span class=\"ff56\">nificative <span class=\"_ _2e\"> </span>e <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>il <span class=\"_ _2e\"> </span>cu<span class=\"_ _0\"></span>i </span>consolidamento <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>produce <span class=\"_ _23\"></span>effetti <span class=\"_ _28\"></span>sostanziali. <span class=\"_ _23\"></span>Gli <span class=\"_ _23\"></span>effetti <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>tali <span class=\"_ _23\"></span>esclusioni <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>assumono <span class=\"_ _23\"></span>per\u00f2 <span class=\"_ _23\"></span>rilevanza <span class=\"_ _23\"></span>e quindi <span class=\"_ _2f\"> </span>la <span class=\"_ _2f\"> </span>loro <span class=\"_ _2f\"> </span>omissione <span class=\"_ _2f\"> </span>non <span class=\"_ _2f\"> </span>influenza <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>deci<span class=\"_ _0\"></span>sioni <span class=\"_ _2f\"> </span>economich<span class=\"_ _0\"></span>e <span class=\"_ _2f\"> </span>degli <span class=\"_ _2f\"> </span>utilizzatori <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>questo <span class=\"_ _2f\"> </span>Bilanci<span class=\"_ _0\"></span>o Consolidato<span class=\"lsb\">. </span><span class=\"ff5a\"> </span>Gli <span class=\"_ _29\"></span>utili <span class=\"_ _29\"></span>derivanti <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>operazioni infragruppo <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _29\"></span>ancora <span class=\"_ _2b\"></span>realizzati nei <span class=\"_ _29\"></span>confronti <span class=\"_ _29\"></span>dei <span class=\"_ _29\"></span>terzi, <span class=\"_ _2b\"></span>se significativi, sono <span class=\"_ _28\"></span>eliminati. <span class=\"_ _28\"></span>Sono <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _28\"></span>oggetto <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>eliminazione <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>crediti, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>debiti, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>proventi, <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>oneri, <span class=\"_ _23\"></span>le <span class=\"_ _28\"></span>garanzie, <span class=\"_ _28\"></span>gli impegni <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2c\"></span>rischi <span class=\"_ _2c\"></span>tra <span class=\"_ _2d\"> </span>imprese <span class=\"_ _28\"></span>c<span class=\"_ _0\"></span>onsolidate. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2c\"></span>perdite <span class=\"_ _2c\"></span>infragruppo <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>eliminate <span class=\"_ _2d\"> </span>perch\u00e9 <span class=\"_ _2c\"></span>considerate rappresentative <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>effettivo <span class=\"_ _2b\"></span>minor <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>bene <span class=\"_ _2b\"></span>ceduto. <span class=\"_ _2b\"></span>Tutti <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>bilanci <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>controllate <span class=\"_ _2b\"></span>sono, <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>necessario, rettificati <span class=\"_ _2b\"></span>allo<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>scop<span class=\"_ _0\"></span>o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>ottenere l\u2019uniformit\u00e0 <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>principi <span class=\"_ _2b\"></span>e dei<span class=\"ff56\"> <span class=\"_ _2b\"></span>criter<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>valutazion<span class=\"_ _0\"></span>e <span class=\"_ _2b\"></span>adottati a <span class=\"_ _2b\"></span>livello <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>Gruppo.<span class=\"_ _0\"></span> </span>Nell\u2019ipotesi <span class=\"_ _3c\"> </span>di <span class=\"_ _3c\"> </span>cessione <span class=\"_ _3c\"> </span>o <span class=\"_ _3c\"> </span>conferimento <span class=\"_ _3c\"> </span>di <span class=\"_ _3c\"> </span>una <span class=\"_ _3c\"> </span>societ\u00e0 <span class=\"_ _3c\"> </span>partecipata, <span class=\"_ _49\"> </span>il <span class=\"_ _3c\"> </span>deconsolidamento <span class=\"_ _3c\"> </span>viene contabilizzato dalla data di effettiva perdita del con<span class=\"_ _0\"></span>trollo.  Nel <span class=\"_\"> </span>caso <span class=\"_\"> </span>di <span class=\"_\"> </span>conferimento <span class=\"_\"> </span>di <span class=\"_\"> </span>una <span class=\"_\"> </span>societ\u00e0 <span class=\"_\"> </span>controllata <span class=\"_\"> </span>in <span class=\"_\"> </span>una <span class=\"_\"> </span>societ\u00e0 <span class=\"_\"> </span>controllata <span class=\"_\"> </span>congiuntamente <span class=\"_\"> </span>o collegata, il <span class=\"_ _0\"></span>riconoscimento dell\u2019<span class=\"_ _0\"></span>utile o <span class=\"_ _0\"></span>della perdita <span class=\"_ _0\"></span>derivante dalla<span class=\"_ _0\"></span> perdita <span class=\"_ _0\"></span>del con<span class=\"_ _0\"></span>trollo viene con<span class=\"_ _0\"></span>tabilizzata a conto economico, cos\u00ec come previsto dall\u2019IFRS 10,<span class=\"_ _0\"></span> paragrafo 25. In tal caso:<span class=\"_ _0\"></span><span class=\"ff56\"> </span>a)<span class=\"ff58 ls0\"> <span class=\"_ _97\"> </span><span class=\"ff56\">sono <span class=\"_ _2e\"> </span>eliminate <span class=\"_ _2e\"> </span>con<span class=\"_ _0\"></span>tabilmente <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>attivit\u00e0 <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _2e\"> </span>della <span class=\"_ _2f\"> </span></span></span><span class=\"ff5a\">ex</span><span class=\"ls0\"> <span class=\"_ _2e\"> </span>controllata <span class=\"_ _2e\"> </span>dal <span class=\"_ _2e\"> </span>prosp<span class=\"_ _0\"></span>etto </span>consolidato della situazione patrimoniale<span class=\"_ _0\"></span>-finanziaria;  b)<span class=\"ff58 ls0\"> <span class=\"_ _95\"> </span><span class=\"ff56\">vi<span class=\"_ _0\"></span>ene <span class=\"_ _29\"></span>rilevata <span class=\"_ _29\"></span>qualsiasi <span class=\"_ _29\"></span>partecipazione <span class=\"_ _2b\"></span>m<span class=\"_ _0\"></span>antenuta nella <span class=\"_ _2b\"></span><span class=\"ff5a ls3\">ex<span class=\"ff56 ls0\"> controllata <span class=\"_ _2b\"></span>al rispettivo <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>alla </span></span></span></span></span></span>data <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>perdita <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>controllo <span class=\"_ _28\"></span>e, <span class=\"_ _2c\"> </span>successivamente, <span class=\"_ _2d\"> </span>viene <span class=\"_ _28\"></span>contabilizzata <span class=\"_ _2c\"></span>insieme <span class=\"_ _2c\"> </span>a <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>alsiasi ammontare dovuto dalla o alla <span class=\"ff5a ls3\">ex</span> controllata secondo<span class=\"_ _0\"></span> quanto previsto dai pertinenti IFRS. Tale fair value<span class=\"ff56\"> <span class=\"ff5d\">diventa la base per la successiva co<span class=\"_ _0\"></span>ntabilizzazione dell\u2019investimento;<span class=\"_ _0\"></span></span> </span>c) <span class=\"_ _97\"> </span>veng<span class=\"ff5d\">ono <span class=\"_ _2e\"> </span>rilevati <span class=\"_ _2e\"> </span>l\u2019utile <span class=\"_ _8b\"> </span>o <span class=\"_ _2e\"> </span>la <span class=\"_ _8b\"> </span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _8b\"> </span>correlati <span class=\"_ _2e\"> </span>alla <span class=\"_ _8b\"> </span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _8b\"> </span>del <span class=\"_ _2e\"> </span>controllo <span class=\"_ _2e\"> </span>attribuibile <span class=\"_ _8b\"> </span>all\u2019<span class=\"_ _0\"></span></span><span class=\"ff5a\">ex</span><span class=\"ls0\"> </span>partecipazione di maggioranza; d)<span class=\"ff58 ls0\"> <span class=\"_ _95\"> </span><span class=\"ff5d\">ven<span class=\"_ _0\"></span>gono <span class=\"_ _29\"></span>riclassificati <span class=\"_ _2b\"></span>n<span class=\"_ _0\"></span>el <span class=\"_ _29\"></span>prospetto <span class=\"_ _29\"></span>dell\u2019utile <span class=\"_ _2b\"></span>(p<span class=\"_ _0\"></span>erdita) <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">esercizio <span class=\"_ _29\"></span>o <span class=\"_ _29\"></span>trasferiti <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>negl<span class=\"_ _0\"></span>i </span></span></span>utili <span class=\"_ _0\"></span>portati <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>nuovo, <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>previsti <span class=\"_ _22\"></span>da <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>IFRS, <span class=\"_ _0\"></span>gli <span class=\"_ _22\"></span>ammontari <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>altre <span class=\"_ _22\"></span>componenti <span class=\"_ _0\"></span>di conto economico complessivo relativo alla ex contro<span class=\"_ _0\"></span>llata. Qualora <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>Capogruppo <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>qualifichi <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>\u201centit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>investimento\u201d <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>investimenti <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>controllate <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>n strumentali sono valutati al <span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir value</span> gli investimenti anche nel bilancio consolidato.<span class=\"_ _0\"></span>  In <span class=\"_ _23\"></span>caso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>perdita <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>qualifica <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>\u201centit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>investimento\u201d <span class=\"_ _23\"></span><span class=\"ff56\">i <span class=\"_ _23\"></span>bilanci <span class=\"_ _23\"></span>vengono <span class=\"_ _22\"></span>redatti <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>delle </span>previsioni <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>paragrafi <span class=\"_ _0\"></span>19<span class=\"_ _0\"></span>-<span class=\"ff5d\">24 <span class=\"_ _0\"></span>dell\u2019<span class=\"_ _0\"></span>IFRS, <span class=\"_ _0\"></span>ossia <span class=\"_ _0\"></span>proced<span class=\"_ _0\"></span>endo <span class=\"_ _0\"></span></span>al <span class=\"_ _22\"></span>consolidamento <span class=\"_ _0\"></span>integ<span class=\"_ _0\"></span>rale, <span class=\"_ _0\"></span>linea <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>lin<span class=\"_ _0\"></span>ea, <span class=\"_ _0\"></span>delle partecipazioni in societ\u00e0 controllate.<span class=\"_ _0\"></span> In sede di prima applicazion<span class=\"_ _0\"></span>e di tali disposizioni<span class=\"_ _0\"></span>, per <span class=\"_ _0\"></span>poter procedere al consolidamento <span class=\"_ _0\"></span>integrale delle partecipazioni <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2d\"> </span>controllate <span class=\"_ _2c\"></span>precedentemente <span class=\"_ _2d\"> </span>valutate <span class=\"_ _2c\"></span>a <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>, <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>applicano, <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>conformit\u00e0 <span class=\"_ _2d\"> </span>al paragrafo B100 dell\u2019IFRS 10, le previsioni contenute nell\u2019IFRS 3 \u2013<span class=\"ff56\"> Aggregazioni aziendali, ai sensi del quale </span>ogni <span class=\"_ _41\"> </span>aggregazione <span class=\"_ _3c\"> </span>aziendale <span class=\"_ _41\"> </span>deve <span class=\"_ _41\"> </span>essere <span class=\"_ _3c\"> </span>contabilizzata <span class=\"_ _41\"> </span>applicando <span class=\"_ _3c\"> </span>il <span class=\"_ _41\"> </span>metodo <span class=\"_ _41\"> </span>dell\u2019acqui<span class=\"_ _0\"></span>sizione, <span class=\"_ _41\"> </span>ossia procedendo, <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>altre <span class=\"_ _28\"></span>co<span class=\"_ _0\"></span>se, <span class=\"_ _28\"></span>(i) <span class=\"_ _28\"></span>alla <span class=\"_ _2c\"></span>determinazione <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>acquisizione, <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>(ii) <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>rilevazione <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>la valutazione dell\u2019avviamento o di un utile derivante da un<span class=\"_ _0\"></span> acquisto a prezzi favorevoli.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Nel <span class=\"_ _0\"></span>c<span class=\"_ _0\"></span>aso <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>p<span class=\"_ _0\"></span>erdita <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>qualifica <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>en<span class=\"_ _0\"></span>tit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span>vestimento, <span class=\"_ _22\"></span>l\u2019applicazio<span class=\"_ _0\"></span>ne <span class=\"_ _22\"></span>dell\u2019IFRS <span class=\"_ _22\"></span>3 <span class=\"_ _22\"></span>prevede <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>la data <span class=\"_ _29\"></span>del <span class=\"_ _2b\"></span>cambio di <span class=\"_ _2b\"></span>stato (i.e. <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>data <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>cui la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _29\"></span>perde <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>qualifica di <span class=\"_ _2b\"></span>entit\u00e0 di <span class=\"_ _2b\"></span>investimento) <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>considerat<span class=\"_ _0\"></span>a come <span class=\"_ _2d\"> </span>data <span class=\"_ _2d\"> </span>di <span class=\"_ _2a\"> </span>acquisizione <span class=\"_ _2d\"> </span>presunta <span class=\"_ _2d\"> </span>della <span class=\"_ _2a\"> </span>partecipazione <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>il<span class=\"_ _0\"></span> <span class=\"ff5a\">fair <span class=\"_ _2a\"> </span>value <span class=\"_ _2d\"> </span></span>della <span class=\"_ _2d\"> </span>controllata <span class=\"_ _2d\"> </span>alla <span class=\"_ _2a\"> </span>data <span class=\"_ _2d\"> </span>di acquisizione presunta rappresenti il corrispettivo presunto trasferito ai fini <span class=\"_ _29\"></span>della identificazione delle attivit\u00e0 e passivit\u00e0 <span class=\"_ _2c\"> </span>sui <span class=\"_ _2d\"> </span>cui <span class=\"_ _2c\"> </span>allocare <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>\u201cprezzo\u201d <span class=\"_ _2c\"> </span>dell\u2019acquisizione <span class=\"_ _2d\"> </span>con <span class=\"_ _2c\"> </span>la <span class=\"_ _2c\"> </span>determinazione <span class=\"_ _2d\"> </span>dell\u2018avviamento <span class=\"_ _2d\"> </span>o <span class=\"_ _28\"></span>dell\u2019utile risultante da un acquisto a co<span class=\"ff5d\">nd<span class=\"_ _0\"></span>izioni favorevoli a seguito dell\u2019acquisizione presunta. <span class=\"_ _0\"></span></span> Area di consolidamento Al 31 <span class=\"_ _2b\"></span>dicembre 2021 e <span class=\"_ _2b\"></span>nel corso <span class=\"_ _29\"></span>dell\u2019esercizio 2021 <span class=\"_ _2b\"></span>non vi <span class=\"_ _29\"></span>erano so<span class=\"_ _29\"></span>ciet\u00e0 <span class=\"_ _29\"></span>controllate strumentali <span class=\"_ _29\"></span>incluse nel perimetro <span class=\"_ _29\"></span>di consolidamento <span class=\"_ _29\"></span>della Societ\u00e0, <span class=\"_ _29\"></span>in qua<span class=\"_ _29\"></span>nto in <span class=\"_ _29\"></span>data 31 <span class=\"_ _2b\"></span>m<span class=\"_ _0\"></span>arzo 2021 si <span class=\"_ _2b\"></span>era conclusa la liquidazione della <span class=\"_ _23\"></span>controllata <span class=\"_ _23\"></span>I2 <span class=\"_ _23\"></span>Capital<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>Partners <span class=\"_ _23\"></span>SGR <span class=\"_ _28\"></span>S.p.A., <span class=\"_ _23\"></span>consolidata <span class=\"_ _23\"></span>integralmente <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>bilancio <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre 2020. <span class=\"_ _0\"></span>Stante <span class=\"_ _0\"></span>l\u2019irri<span class=\"_ _0\"></span>levanza <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>flu<span class=\"_ _0\"></span>ssi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>controllata, <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>deconsolidamento <span class=\"_ _0\"></span>era <span class=\"_ _22\"></span>avve<span class=\"_ _0\"></span><span class=\"ff56\">nuto </span>alla <span class=\"_\"> </span>data <span class=\"_ _8b\"> </span>del <span class=\"_ _8b\"> </span>primo <span class=\"_ _8b\"> </span>gennaio <span class=\"_ _8b\"> </span>2021. <span class=\"_ _2e\"> </span>Al <span class=\"_\"> </span>31 <span class=\"_\"> </span>dicembre <span class=\"_ _8b\"> </span>2021<span class=\"_ _0\"></span>, <span class=\"_\"> </span>l\u2019area <span class=\"_\"> </span>di <span class=\"_ _2e\"> </span>consolidamento <span class=\"_\"> </span>includeva <span class=\"_ _2f\"> </span><span class=\"ff56\">pertanto </span>esclusivamente la Capogruppo.<span class=\"_ _0\"></span> La <span class=\"_ _8b\"> </span>Nuova <span class=\"_ _2e\"> </span>Strategia <span class=\"_ _2e\"> </span>ha <span class=\"_ _2e\"> </span>comportato <span class=\"_ _2e\"> </span>la <span class=\"_ _8b\"> </span>disapplicazi<span class=\"_ _0\"></span>one, <span class=\"_ _8b\"> </span>nella <span class=\"_ _2e\"> </span>redazione <span class=\"_ _2e\"> </span>dei <span class=\"_ _2e\"> </span>bilanci <span class=\"_ _2e\"> </span>della <span class=\"_ _8b\"> </span>Societ\u00e0,<span class=\"_ _0\"></span> dell\u2019IFRS <span class=\"_ _28\"></span>10 <span class=\"_ _2c\"> </span>relativo <span class=\"_ _2c\"> </span>alle <span class=\"_ _2c\"> </span><span class=\"ff5a\">investment <span class=\"_ _28\"></span>ent<span class=\"_ _0\"></span>ities<span class=\"ff56\"> <span class=\"_ _28\"></span></span></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>consegu<span class=\"_ _0\"></span>ente <span class=\"_ _28\"></span>espansione <span class=\"_ _2c\"> </span>dell\u2019area <span class=\"_ _28\"></span>di <span class=\"_ _2c\"> </span>consolidamento <span class=\"_ _2c\"> </span>del Gruppo, che <span class=\"_ _0\"></span>ricomprende anche <span class=\"_ _0\"></span>gli investimenti di<span class=\"_ _0\"></span> cont<span class=\"_ _0\"></span>rollo non <span class=\"_ _0\"></span>strumentali, tra cui, <span class=\"_ _0\"></span>in particolare, <span class=\"_ _0\"></span>KME SE<span class=\"_ _0\"></span> e <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>altre <span class=\"_ _2c\"></span>partecipazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>controllo <span class=\"_ _2d\"> </span>eventualmente <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"> </span>date <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>riferimento <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>quali <span class=\"_ _2c\"></span>non <span class=\"_ _2d\"> </span>sia applicabile un\u2019eccezione al consolidamento<span class=\"_ _0\"></span><span class=\"ff56\"> linea per linea</span>, quale quella prevista <span class=\"_ _0\"></span>dall\u2019IFRS 5<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span>Nello <span class=\"_ _2d\"> </span>specifico, <span class=\"_ _2d\"> </span>ai <span class=\"_ _2c\"></span>fini <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>predisposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _2d\"> </span>2022, <span class=\"_ _2d\"> </span>ci\u00f2 <span class=\"_ _2d\"> </span>ha comportato <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019effettuazione <span class=\"_ _23\"></span>del</span> <span class=\"_ _22\"></span><span class=\"ff5d\">consolidamento <span class=\"_ _22\"></span>linea <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>linea, <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>decorrere <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>\u201ccambio <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>stato\u201d <span class=\"_ _22\"></span>di </span>entit\u00e0 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>investimento <span class=\"_ _22\"></span>(22 <span class=\"_ _22\"></span>aprile <span class=\"_ _22\"></span>2022). <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>30<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>aprile <span class=\"_ _0\"></span>2022, <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _0\"></span>prossima <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quella <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>\u201ccambio <span class=\"_ _0\"></span>di stato\u201d \u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _29\"></span>quindi identificata <span class=\"_ _29\"></span>come <span class=\"_ _29\"></span>data di <span class=\"_ _29\"></span>primo co<span class=\"_ _29\"></span>nsolidame<span class=\"ff56\">nto delle partecipate <span class=\"_ _29\"></span>di seguito <span class=\"_ _29\"></span>rappresentate, </span>cui <span class=\"_ _23\"></span>l\u2019informat<span class=\"_ _0\"></span>iva <span class=\"_ _23\"></span>riportata <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>Bilancio <span class=\"_ _23\"></span>fa <span class=\"_ _28\"></span>riferimento <span class=\"_ _23\"></span>laddov<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>riportato <span class=\"_ _28\"></span>\u201cVariazione <span class=\"_ _28\"></span>area <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>consolidamento<span class=\"_ _22\"></span><span class=\"ff56\"> </span>IFRS <span class=\"_ _22\"></span>10<span class=\"ff5d\">\u201d; <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>front<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>primo <span class=\"_ _22\"></span>consolidamento, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>applicazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>3 <span class=\"_ _22\"></span>\u201cAggrega<span class=\"_ _0\"></span></span>zioni aziendali\u201d <span class=\"_ _2b\"></span>si <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>proceduto <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>svolgere <span class=\"_ _29\"></span>l\u2019allocazione <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ezzo <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>acquisto <span class=\"_ _2b\"></span>(\u201cPurchase <span class=\"_ _29\"></span>Price <span class=\"_ _2b\"></span>Allocation\u201d <span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>\u201cPPA\u201d, le <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>risultanze <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>sintetizzate <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>paragrafo <span class=\"_ _22\"></span>4.<span class=\"_ _0\"></span>3 <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>rapprentate <span class=\"_ _22\"></span>ne<span class=\"_ _0\"></span>lle <span class=\"_ _22\"></span>note <span class=\"_ _23\"></span>esplicative <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>singole <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ci <span class=\"_ _22\"></span>di bilancio come \u201cVariazioni<span class=\"ff56\"> </span>PPA\u201d) <span class=\"ff56\"> </span>Di seguito si fornisce l\u2019elenco delle societ\u00e0 con<span class=\"_ _0\"></span>solidate con il metodo integrale al <span class=\"_ _0\"></span><span class=\"ff56\">31 d<span class=\"_ _0\"></span>icembre 2022: </span>Denominazione  Sede Valuta % di possesso diretta indiretta KME Group SpA (gi\u00e0 Intek Group SpA) Italia Euro Capogruppo KME SE Germania Euro 10,00% 89% KMH SpA (gi\u00e0 KME Group Srl) Italia Euro 100,00% CULTI Milano SpA Italia Euro 77,17% Bakel Inc Stati Uniti USD<span class=\"ls0\"> </span>38,59% Bakel Srl Italia Euro 38,59% Bertram's GmbH Germania Euro 99,00% CULTI Milano Asia Ltd Hong Kong HKD<span class=\"ls0\"> </span>46,30% CULTI Milano China Ltd Cina RMB 46,30% Immobiliare Pictea S.r.l. Italia Euro 99,00% KME AssetCo GmbH Germania Euro 99,00% KME Germany GmbH Germania Euro 99,00% KME Grundst\u00fccksgesellschaft SE &amp; Co. KG Germania Euro 99,00% KME Italy S.p.A. Italia Euro 83,16% KME Mansfeld GmbH Germania Euro 99,00% KME Netherlands B.V.* Paesi Bassi Euro 99,00% KME Real Estate GmbH &amp; Co. <span class=\"ls62\">KG</span> Germania Euro 99,00% KME Recycle S.r.l. (in liquidation) Italia Euro 99,00% KME Rolled France S.A.S. Francia Euro 99,00% KME S.r.l. Italia Euro 99,00% KME Service Centre Italy S.p.A.* Italia Euro 99,00% KME Service Centre Slovakia s.r.o.<span class=\"ls1\">.*</span> Slovacchia Euro 99,00% KME Service Centre UK Ltd* Gran Bretagna GBP 99,00% KME Spain S.A.U. Spagna Euro 99,00% KME Special Holding GmbH Germania Euro 99,00% KME Special Products GmbH &amp; Co. <span class=\"ls62\">KG</span> Germania Euro 99,00% KME Yorkshire Ltd. Gran Bretagna GBP 99,00% KMETAL S.p.A. Italia Euro 99,00% Natural Capital Italia SpA Societ\u00e0 Benefit  Italia Euro 73,85% Scent Company Srl Italia Euro 39,36% Valika S.A.S. Francia Euro 50,49% * <span class=\"_ _23\"></span><span class=\"fs5 ls0\">Le <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Nethrlands <span class=\"_ _22\"></span>B.V.,<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>Service <span class=\"_ _22\"></span>Centre <span class=\"_ _23\"></span>Italy <span class=\"_ _22\"></span>SpA, <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>Service <span class=\"_ _23\"></span>Centre <span class=\"_ _22\"></span>UK <span class=\"_ _23\"></span>Ltd <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Service <span class=\"_ _23\"></span>Centre </span>Slovakia s.r.o. sono en<span class=\"_ _29\"></span>trate nell\u2019area di <span class=\"_ _29\"></span>consolidamento per <span class=\"_ _29\"></span>effetto dell\u2019esecuzione, in<span class=\"_ _29\"></span> data 29 lug<span class=\"_ _29\"></span>lio 2022, dell\u2019accordo <span class=\"_ _29\"></span>so<span class=\"ff56\">ttoscritto da </span>KME SE per l\u2019acquisto di parte del business prodotti laminati piani di Aurubis AG (\u201cAurubis\u201d).<span class=\"ff56 fs2\"> </span>Al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2022, <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>considerazion<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>prog<span class=\"_ _0\"></span>ramma <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>acquisto <span class=\"_ _23\"></span>azioni <span class=\"_ _23\"></span>proprie <span class=\"_ _23\"></span>posto <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>essere <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span> CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>SpA <span class=\"_ _22\"></span><span class=\"ff5d ls7\">(\u201c</span>CULTI<span class=\"ff5d ls3\">\u201d)<span class=\"_ _0\"></span></span>, <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>valle <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>arriv<span class=\"_ _0\"></span>ata <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>detenere <span class=\"_ _22\"></span>n. <span class=\"_ _22\"></span>369.750 <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>prop<span class=\"_ _0\"></span>rie, <span class=\"_ _22\"></span>l<span class=\"ls6\">a </span>percentuale in <span class=\"_ _2b\"></span>partecipazione in CULTI <span class=\"_ _2b\"></span>sale all<span class=\"ff5d\">\u201987,64%</span><span class=\"lsb\">, </span>calcolata <span class=\"_ _2b\"></span>sulle azioni <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>circolazione <span class=\"_ _29\"></span>e qui<span class=\"_ _29\"></span>ndi al <span class=\"_ _2b\"></span>netto delle <span class=\"_ _23\"></span>azioni <span class=\"_ _23\"></span>proprie <span class=\"_ _28\"></span>detenute <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>CULTI <span class=\"_ _23\"></span>stessa; <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>conseguenza <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quella <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>Bakel <span class=\"_ _23\"></span>Srl <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>Bakel <span class=\"_ _23\"></span>In<span class=\"_ _0\"></span>c <span class=\"_ _23\"></span>al 43,83%, quella in CULTI Asia Ltd e C<span class=\"_ _0\"></span>ULTI China Ltd al 52,58% e quella in <span class=\"_ _0\"></span>Scent Company Sr<span class=\"_ _0\"></span>l al 44,<span class=\"lsf\">69<span class=\"ls35\">%.</span></span> I valori contabil<span class=\"ls9\">i </span>relativi alle poste 2022 <span class=\"_ _29\"></span>del presente bilancio consolidato includono quindi i saldi delle<span class=\"_ _29\"></span> suddette societ\u00e0 e nello<span class=\"_ _0\"></span> specifico il saldo <span class=\"_ _0\"></span>di stato patrimoniale al 3<span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>dicembre 2022 di <span class=\"_ _0\"></span>tutte le societ\u00e0 e, <span class=\"_ _0\"></span>per le entit\u00e0 <span class=\"_ _28\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _2c\"></span>diverse <span class=\"_ _28\"></span>dalla <span class=\"_ _2c\"></span>Capogruppo <span class=\"_ _2c\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _2c\"></span><span class=\"ff5d\">che <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"> </span>confluite <span class=\"_ _28\"></span>nell\u2019area <span class=\"_ _2c\"> </span>di <span class=\"_ _28\"> </span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _28\"></span>del <span class=\"_ _2c\"> </span>Gruppo <span class=\"_ _28\"> </span>nel <span class=\"_ _2c\"> </span>corso </span>dell\u2019anno<span class=\"ff56\"> <span class=\"_ _2c\"> </span>in <span class=\"_ _2c\"></span>esame, <span class=\"_ _2d\"> </span>esclusivamente <span class=\"_ _28\"></span>i <span class=\"_ _2c\"> </span>f<span class=\"_ _0\"></span>lussi <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"></span>economico <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>successivi <span class=\"_ _2d\"> </span>alla <span class=\"_ _28\"></span>data <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>primo<span class=\"_ _0\"></span> </span>consolidamento.  In <span class=\"_ _22\"></span>termini <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>significativit\u00e0, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>principale <span class=\"_ _22\"></span>partecipazione <span class=\"_ _22\"></span>controllata <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>sede <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>G<span class=\"_ _0\"></span>ermania, capogruppo <span class=\"_ _97\"> </span>del <span class=\"_ _97\"> </span>gruppo <span class=\"_ _97\"> </span>KME, <span class=\"_ _97\"> </span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _97\"> </span>industriale <span class=\"_ _97\"> </span>europeo<span class=\"_ _0\"></span> <span class=\"_ _97\"> </span><span class=\"ff5a\">leader</span> <span class=\"_ _97\"> </span>mondiale <span class=\"_ _97\"> </span>nella <span class=\"_ _97\"> </span>prod<span class=\"_ _0\"></span>uzione <span class=\"_ _97\"> </span>e commercializzazione di prodotti in rame e leghe di <span class=\"_ _29\"></span>rame. Il gruppo KME \u00e8 <span class=\"_ _29\"></span>composto da diversi siti produttivi in Germania, Italia, <span class=\"_ _29\"></span>Francia, Spagna, Stati Uniti <span class=\"_ _29\"></span>e Cina <span class=\"_ _29\"></span>ed \u00e8 inoltre <span class=\"_ _29\"></span>rappresentato in <span class=\"_ _29\"></span>tutto il mondo da una fitta rete <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>agenti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>cen<span class=\"_ _0\"></span>tri <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>assistenza <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>soddisfare <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>esige<span class=\"_ _0\"></span>nze <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>client<span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali settori industriali. Alcune <span class=\"_ _2d\"> </span>societ\u00e0 <span class=\"_ _2a\"> </span>controllate <span class=\"_ _2d\"> </span>non <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2d\"> </span>incluse <span class=\"_ _2a\"> </span>nell\u2019area <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>quanto <span class=\"_ _2d\"> </span>l\u2019effetto <span class=\"_ _2a\"> </span>in 1Bilancio <span class=\"_ _2a\"> </span>no<span class=\"ff5d\">n <span class=\"_\"> </span>sarebbe <span class=\"_ _2d\"> </span>sign<span class=\"_ _0\"></span>ificativo <span class=\"_\"> </span>per<span class=\"_ _29\"></span> <span class=\"_ _2a\"> </span>l\u2019informativa <span class=\"_ _2a\"> </span>finanziaria</span>; <span class=\"_ _2a\"> </span>in <span class=\"_ _2a\"> </span>particolare, <span class=\"_ _2a\"> </span>la <span class=\"_ _2a\"> </span>pi\u00f9 <span class=\"_ _2a\"> </span>rilevante <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2a\"> </span>Intek Investimenti <span class=\"_ _22\"></span>SpA <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>attivo, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circa <span class=\"_ _22\"></span>lo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>0,4<span class=\"ff5d\">% <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>\u201cTotale <span class=\"_ _23\"></span>Attivit\u00e0\u201d <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>Bilancio <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span></span>31<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22, <span class=\"_ _22\"></span>\u00e8 rappresentato <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>lo <span class=\"_ _2c\"></span>pi\u00f9 <span class=\"_ _28\"></span>da <span class=\"_ _2c\"></span>partecipazioni <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _28\"></span>d<span class=\"_ _0\"></span>i <span class=\"_ _28\"></span>controllo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>sarebbero <span class=\"_ _2c\"></span>confluite <span class=\"_ _2c\"></span>- <span class=\"_ _28\"></span>anche <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>presenza <span class=\"_ _28\"></span>di consolidamento <span class=\"_ _2f\"> </span>in<span class=\"_ _0\"></span>tegrale <span class=\"_ _41\"> </span>- <span class=\"_ _2f\"> </span><span class=\"ff5d\">nella <span class=\"_ _41\"> </span>voce <span class=\"_ _41\"> </span>\u201cPartecipazioni\u201d <span class=\"_ _41\"> </span>e <span class=\"_ _2f\"> </span>il <span class=\"_ _41\"> </span>cui <span class=\"_ _41\"> </span>bilancio <span class=\"_ _41\"> </span>non <span class=\"_ _2f\"> </span>presenta <span class=\"_ _41\"> </span>ulteriori <span class=\"_ _41\"> </span>poste </span>significative. La societ\u00e0 <span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>mericana <span class=\"_ _0\"></span>Bakel <span class=\"_ _0\"></span>Inc., <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>appartenente <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>CULTI <span class=\"_ _0\"></span>deputata <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>distribuzione <span class=\"_ _0\"></span>nel mercato americano <span class=\"_ _2b\"></span>del prodotto Bakel <span class=\"_ _2b\"></span>3D\u00ae, ha <span class=\"_ _29\"></span>avviato <span class=\"_ _29\"></span>la <span class=\"_ _29\"></span>propria <span class=\"_ _29\"></span>operativit\u00e0 a <span class=\"_ _2b\"></span>maggio 2022 <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>quindi, <span class=\"_ _29\"></span>essendo an<span class=\"ls0\">cora <span class=\"_ _2c\"></span>in <span class=\"_ _2d\"> </span>fase <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>start-<span class=\"ls1\">up</span> <span class=\"_ _28\"></span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _2d\"> </span>2022, <span class=\"_ _28\"></span>pr<span class=\"_ _0\"></span>esenta <span class=\"_ _2c\"></span>valori <span class=\"_ _2c\"> </span>e<span class=\"_ _0\"></span>conomici <span class=\"_ _2c\"></span>non <span class=\"_ _2d\"> </span>significativi; <span class=\"_ _28\"></span>nel <span class=\"_ _2d\"> </span>trascorso </span>esercizio, <span class=\"_\"> </span>infatti, <span class=\"_ _2a\"> </span>sono <span class=\"_ _2a\"> </span>stati <span class=\"_\"> </span>sostenuti <span class=\"_ _2a\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2a\"> </span>preliminari <span class=\"_ _2a\"> </span>alle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_ _2a\"> </span>di <span class=\"_ _2a\"> </span>vendita <span class=\"_ _2a\"> </span>dell\u2019innovativo prodotto, i cui sviluppi commerciali sono attesi nella seconda p<span class=\"_ _0\"></span>arte del 2023.<span class=\"_ _0\"></span> Si <span class=\"_ _22\"></span>segnala <span class=\"_ _0\"></span>ch<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>dell\u2019articolo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>264b <span class=\"_ _22\"></span>HGB <span class=\"_ _0\"></span>(German <span class=\"_ _22\"></span>Commercial <span class=\"_ _22\"></span>Code) <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>controllate <span class=\"_ _22\"></span>indirette KME <span class=\"_ _8b\"> </span>Special <span class=\"_ _2e\"> </span>Produ<span class=\"_ _0\"></span>cts <span class=\"_ _8b\"> </span>GmbH <span class=\"_ _2e\"> </span>&amp; <span class=\"_ _2e\"> </span>Co. <span class=\"_ _2e\"> </span>KG, <span class=\"_ _2e\"> </span>Osnab<span class=\"_ _0\"></span>r\u00fcck, <span class=\"_ _8b\"> </span>KME <span class=\"_ _2e\"> </span>Grundst\u00fc<span class=\"_ _0\"></span>cksgesellschaft <span class=\"_ _8b\"> </span>S<span class=\"_ _0\"></span>E <span class=\"_ _8b\"> </span>&amp; <span class=\"_ _2e\"> </span>Co. <span class=\"_ _2e\"> </span>KG, Osnabr\u00fcck <span class=\"_ _2c\"></span>e <span class=\"_ _2d\"> </span>KME <span class=\"_ _28\"></span>Real <span class=\"_ _2d\"> </span>Estate <span class=\"_ _28\"></span>GmbH <span class=\"_ _2d\"> </span>&amp; <span class=\"_ _28\"></span>Co. <span class=\"_ _2d\"> </span>KG, <span class=\"_ _2c\"></span>Osnabr\u00fcck, <span class=\"_ _2d\"> </span>KME <span class=\"_ _2c\"></span>Germany <span class=\"_ _2c\"></span>Gm<span class=\"_ _0\"></span>bH, <span class=\"_ _2c\"></span>Osnabr\u00fcck, <span class=\"_ _2d\"> </span>KME Mansfeld GmbH, Hettstedt non rendono pubblici i propri bilanci.<span class=\"_ _0\"></span> Le previsioni di legge tedesche (\u00a7 264b No. 3 HGB and \u00a7 264 <span class=\"_ _0\"></span>(3) No. 3 HGB), <span class=\"_ _0\"></span>richiedono in tali <span class=\"_ _0\"></span>casi l\u2019indicazione che la controllata <span class=\"_ _0\"></span>diretta KME SE e le<span class=\"_ _0\"></span> sue <span class=\"_ _29\"></span>controllate <span class=\"_ _2b\"></span>KME Special <span class=\"_ _2b\"></span>Products GmbH <span class=\"_ _2b\"></span>&amp; <span class=\"_ _29\"></span>Co. <span class=\"_ _29\"></span>KG, <span class=\"_ _2b\"></span>KME Grundst\u00fccksgesellschaft <span class=\"_ _2b\"></span>SE &amp; <span class=\"_ _2b\"></span>Co. KG <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>KME Real <span class=\"_ _23\"></span>Estate <span class=\"_ _23\"></span>GmbH <span class=\"_ _23\"></span>&amp; <span class=\"_ _23\"></span>Co. <span class=\"_ _23\"></span>KG, <span class=\"_ _23\"></span>KME <span class=\"_ _28\"></span>Germany <span class=\"_ _23\"></span>GmbH, <span class=\"_ _23\"></span>Osnabr\u00fcck, <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Ma<span class=\"_ _0\"></span>nsfeld <span class=\"_ _23\"></span>GmbH, <span class=\"_ _23\"></span>Hettstedt <span class=\"_ _23\"></span>siano incluse nel bilancio consolidato di KME Group <span class=\"_ _0\"></span>S.p.A.. Di <span class=\"_ _22\"></span>seguito <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _22\"></span>controllate <span class=\"_ _23\"></span>incluse <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>perimetro <span class=\"_ _23\"></span>IFRS <span class=\"_ _22\"></span>5 <span class=\"_ _22\"></span>(attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>dismissione) <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ls1\">31 </span>dicembre <span class=\"ls1\">2022:</span> Denominazione  Sede Valuta % di possesso diretta indiretta Serravalle Copper Tubes Italy Srl Italia Euro 99,00% Trefimetaux SAS Francia Euro 99,00% 2.5.2.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Entit\u00e0 collegate </span></span>Le <span class=\"_ _2b\"></span>collegate <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>tutte <span class=\"_ _29\"></span>le <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>sulle <span class=\"_ _2b\"></span>quali <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _2b\"></span>esercita <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span>\u2019influenza <span class=\"_ _2b\"></span>notevole <span class=\"_ _2b\"></span>ma <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>controllo. L\u2019influenza <span class=\"_ _2c\"> </span>notevole <span class=\"_ _2c\"> </span>\u00e8 <span class=\"_ _2c\"> </span>presunta <span class=\"_ _2c\"> </span>quando <span class=\"_ _28\"> </span>la <span class=\"_ _2c\"> </span>Societ\u00e0 <span class=\"_ _2c\"> </span>possiede, <span class=\"_ _2c\"> </span>direttamente <span class=\"_ _2c\"> </span>o <span class=\"_ _2c\"> </span>indirettamente <span class=\"_ _2c\"> </span>tramite <span class=\"_ _2c\"> </span>societ<span class=\"_ _0\"></span>\u00e0 controllate, il <span class=\"_ _2b\"></span>20% o <span class=\"_ _2b\"></span>u<span class=\"_ _0\"></span><span class=\"ff5d\">na quota <span class=\"_ _2b\"></span>maggiore dei <span class=\"_ _29\"></span>voti <span class=\"_ _29\"></span>nell\u2019assemblea <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>partecipata. Le <span class=\"_ _2b\"></span>partecipazioni in <span class=\"_ _29\"></span>societ\u00e0 </span>collegate <span class=\"_ _2a\"> </span>sono <span class=\"_\"> </span>consolidate <span class=\"_ _2d\"> </span>con <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>metodo <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>patrimon<span class=\"_ _0\"></span>io <span class=\"_\"> </span>netto. <span class=\"_ _2d\"> </span>Con <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>metodo <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto, <span class=\"_ _2d\"> </span>la partecipazione \u00e8 inizialmente rilevata al costo successivamente <span class=\"_ _0\"></span>rettificato per registrare la quota spettante alla controllante <span class=\"_ _23\"></span>negli <span class=\"_ _23\"></span>utili <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>maturati <span class=\"_ _23\"></span>successivamente <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisizio<span class=\"_ _0\"></span>ne<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>e/o <span class=\"_ _28\"></span>eventuali <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di valore. I dividendi ricevuti riducono il valore con<span class=\"_ _0\"></span>tabile della partecipazione. <span class=\"_ _0\"></span> Denominazion<span class=\"ls1d\">e </span> Sede Valuta % di possesso diretta indiretta Azienda Metalli Laminati S.p.A. Italia Euro 23,96% Dynamo Academy S.r.l. Impresa Sociale Italia Euro 24,75% 1 <span class=\"_\"> </span><span class=\"ff5a\">I <span class=\"_ _8b\"> </span>principi <span class=\"_\"> </span>contabili <span class=\"_\"> </span>non <span class=\"_\"> </span>stabiliscono <span class=\"_\"> </span>alcun <span class=\"_ _8b\"> </span>limite <span class=\"_\"> </span>quantitativo <span class=\"_\"> </span>inferiore <span class=\"_\"> </span>per <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span><span class=\"lsf\">non</span> <span class=\"_\"> </span>consolidamento; <span class=\"_\"> </span>tuttavia, <span class=\"_\"> </span>i<span class=\"_ _0\"></span>l </span>\u201cConceptual <span class=\"_ _29\"></span>Framework\u201d<span class=\"ff5a\"> <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>elinea <span class=\"_ _29\"></span>il c<span class=\"_ _29\"></span>oncetto <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>rilevanza <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>significativit\u00e0 <span class=\"_ _2b\"></span>ai fini dell'i<span class=\"_ _29\"></span>nformativa <span class=\"_ _29\"></span>finanziaria<span class=\"_ _29\"></span> <span class=\"ff5e\">nell\u2019ambito </span></span>della corretta presentazione <span class=\"_ _29\"></span>del bilancio richiesta dal p<span class=\"_ _29\"></span>aragrafo 15 dello IAS 1.<span class=\"ff56\"> </span>2.5.3.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Joint Venture </span></span>Una <span class=\"_ _2d\"> </span><span class=\"ff5a\">joint <span class=\"_ _2d\"> </span>venture</span> <span class=\"_ _2d\"> </span><span class=\"ff5d\">\u00e8 <span class=\"_ _2d\"> </span>un <span class=\"_ _2d\"> </span>accordo <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>trattuale <span class=\"_ _2d\"> </span>con <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>quale <span class=\"_ _2d\"> </span>due <span class=\"_ _2c\"> </span>o <span class=\"_ _2d\"> </span>pi\u00f9 <span class=\"_ _2d\"> </span>parti <span class=\"_ _2d\"> </span>intraprendono <span class=\"_ _2d\"> </span>un\u2019attivit\u00e0 </span>economica <span class=\"_ _97\"> </span>sottoposta <span class=\"_ _44\"> </span>a <span class=\"_ _97\"> </span>controllo <span class=\"_ _97\"> </span>con<span class=\"_ _0\"></span>giunto. <span class=\"_ _97\"> </span>Il <span class=\"_ _44\"> </span>controllo <span class=\"_ _97\"> </span>congiunto <span class=\"_ _44\"> </span>\u00e8 <span class=\"_ _97\"> </span>la <span class=\"_ _97\"> </span>condivisione, <span class=\"_ _44\"> </span>stabilita contrattualmente, <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>trollo <span class=\"_ _0\"></span>su <span class=\"_ _0\"></span>un\u2019attivit\u00e0 <span class=\"_ _0\"></span>economica. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span><span class=\"ff5a\">joint <span class=\"_ _22\"></span>venture<span class=\"ff56\"> <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>solidate <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>metodo <span class=\"_ _0\"></span>del </span></span>patrimonio netto cos\u00ec come previsto dall\u2019IFRS 11 paragrafo <span class=\"_ _0\"></span>24. <span class=\"ff56\"> </span>Denominazione  Sede Valuta % di possesso diretta indiretta KMD (HK) Holding Limited Hong Kong HKD<span class=\"ls0\"> </span>49,50% KMD Connectors Stolberg GmbH Germania Euro 49,50% KMD Precise Copper Strip Co. <span class=\"ls36\">Ltd</span> Cina RMB 49,50% Magnet Joint Venture Gmbh Germania Euro 44,55% L\u2019entit\u00e0 Magnet Joint Venture Gmbh \u00e8 relativa al busin<span class=\"_ _0\"></span>ess degli Speciali, il cui controllo (55%) era stato ceduto da KME SE a Paragon <span class=\"_ _0\"></span>con data di efficacia 31 gennaio 2022.<span class=\"_ _0\"></span> 2.5.4.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff61\">Variazioni dell\u2019area di consolidamento<span class=\"_ _0\"></span><span class=\"ff5c\"> </span></span></span>Nella <span class=\"_ _2b\"></span>redazio<span class=\"_ _0\"></span>ne <span class=\"_ _2b\"></span>del presente <span class=\"_ _2b\"></span>Bilancio <span class=\"_ _2b\"></span>le partecipazioni <span class=\"_ _2b\"></span>di controllo <span class=\"_ _2b\"></span>(KME <span class=\"_ _2b\"></span>Group <span class=\"_ _29\"></span>Srl, <span class=\"_ _2b\"></span>KME SE <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>CULTI Milano <span class=\"_ _2b\"></span>SpA) <span class=\"_ _29\"></span>detenute <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>investimento <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>parte <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>Capogruppo, <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>sino <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5d\">\u201ccambio <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>stato\u201d <span class=\"_ _2b\"></span>erano <span class=\"_ _2b\"></span>valutat<span class=\"_ _0\"></span>e<span class=\"ff56\"> </span></span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value<span class=\"_ _0\"></span> <span class=\"_\"> </span></span>anche <span class=\"_ _8b\"> </span>nel <span class=\"_\"> </span>b<span class=\"_ _0\"></span>ilancio <span class=\"_\"> </span>consolidato<span class=\"_ _0\"></span>, <span class=\"_\"> </span>sono <span class=\"_\"> </span>state <span class=\"_\"> </span>og<span class=\"_ _0\"></span>getto <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>consolidamento <span class=\"_\"> </span>in<span class=\"_ _0\"></span>tegrale <span class=\"_\"> </span>(si <span class=\"_\"> </span>facci<span class=\"_ _0\"></span>a riferimento <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>\u201cVariazione <span class=\"_ _28\"></span>per <span class=\"_ _28\"> </span>Entit\u00e0 <span class=\"_ _2c\"> </span>di <span class=\"_ _28\"></span>Investimento\u201d <span class=\"_ _28\"> </span><span class=\"ff56\">rappresenta<span class=\"_ _0\"></span>ta <span class=\"_ _28\"></span>nella <span class=\"_ _28\"></span>tabella <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>nota <span class=\"_ _28\"></span>esplicativa <span class=\"_ _28\"></span>4.4 </span>relativa <span class=\"_ _22\"></span>alle <span class=\"_ _22\"></span>Partecipazioni); <span class=\"_ _22\"></span>contestualmente <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>proceduto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>consolidamento <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>saldi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>tali <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _23\"></span>incluse nel <span class=\"_\"> </span>perimetro <span class=\"_\"> </span>di <span class=\"_\"> </span>consolidamento <span class=\"_\"> </span>registran<span class=\"_ _0\"></span>do <span class=\"_\"> </span><span class=\"ff5d\">un <span class=\"_\"> </span>incremento <span class=\"_\"> </span>dei <span class=\"_\"> </span>saldi <span class=\"_\"> </span>patrimon<span class=\"_ _0\"></span>iali <span class=\"_\"> </span>(\u201cVaria</span>zione <span class=\"_\"> </span>area <span class=\"_ _8b\"> </span>di consolidamento <span class=\"_\"> </span>IFRS <span class=\"_\"> </span>10<span class=\"ff5d\">\u201d <span class=\"_ _2a\"> </span>rappresentata <span class=\"_\"> </span>nelle <span class=\"_ _2a\"> </span>tabelle <span class=\"_ _2a\"> </span>delle <span class=\"_\"> </span>note <span class=\"_ _2a\"> </span>esplicative).</span> <span class=\"_\"> </span>Il <span class=\"_\"> </span>consolidamento <span class=\"_ _2a\"> </span>dei <span class=\"_\"> </span>dati contabili <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>partire <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>bilanci <span class=\"_ _22\"></span>subconsolidati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>CULTI, <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esente Bilancio <span class=\"_ _22\"></span>Consolidato <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rappresentati <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>gruppo <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>gruppo <span class=\"_ _23\"></span>CULTI, <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>fanno <span class=\"_ _22\"></span>capo <span class=\"_ _22\"></span>peraltro <span class=\"_ _22\"></span>le due Cash Generating Unit identificate dalla Societ\u00e0 (r<span class=\"_ _0\"></span>ispettivamente \u201cRame\u201d e \u201cProfumi e cosmesi\u201d)<span class=\"_ _0\"></span><span class=\"ff56\">. </span>Rispetto <span class=\"_\"> </span>alla <span class=\"_\"> </span>data <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>primo <span class=\"_ _2a\"> </span>consolidamento <span class=\"_\"> </span>(30 <span class=\"_\"> </span>aprile <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span>quale <span class=\"_\"> </span><span class=\"ff5d\">data <span class=\"_\"> </span>di <span class=\"_\"> </span>\u201cca<span class=\"_ _29\"></span>mbio<span class=\"ff56\"> <span class=\"_\"> </span></span>di <span class=\"_\"> </span>stato\u201d), <span class=\"_\"> </span><span class=\"ff56\">si </span></span>evidenziano le seg<span class=\"ff5d\">uenti variazioni dell\u2019area di conso<span class=\"_ _0\"></span>ldiamento</span> <span class=\"ff5d\">avvenute nel corso<span class=\"_ _0\"></span> dell\u2019esercizio</span>: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">sono uscite dal <span class=\"_ _0\"></span>perimetro di <span class=\"_ _0\"></span>consolidamento <span class=\"_ _0\"></span>Ilnor <span class=\"_ _0\"></span>Srl (entit\u00e0 <span class=\"_ _0\"></span>fusa in <span class=\"_ _0\"></span>KME Italy <span class=\"_ _0\"></span>SpA <span class=\"_ _0\"></span>il 1\u00b0 <span class=\"_ _0\"></span>luglio </span></span>2022 <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>effetto <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economico <span class=\"_ _23\"></span>retroattivo <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>1\u00b0 <span class=\"_ _22\"></span>gennaio <span class=\"_ _23\"></span>2022) <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Chile <span class=\"_ _23\"></span>Limitada (entit\u00e0 sciolta in data 15 luglio 2022)<span class=\"_ _0\"></span>; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">sono <span class=\"_ _23\"></span>entrate <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>perimetro <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>consolidamento <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Nethrlands <span class=\"_ _23\"></span>B.V., <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>Service </span></span>Centre <span class=\"_ _29\"></span>Italy <span class=\"_ _29\"></span>SpA, KME <span class=\"_ _2b\"></span>Service Centre <span class=\"_ _2b\"></span>UK Ltd <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>KME <span class=\"_ _29\"></span>Service <span class=\"_ _29\"></span>Centre <span class=\"_ _29\"></span>Slovakia <span class=\"_ _29\"></span>s.r.o., in <span class=\"_ _2b\"></span>data 29 luglio <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>effetto <span class=\"_ _2a\"> </span>dell\u2019esecuzione <span class=\"_\"> </span>dell\u2019accordo <span class=\"_ _2a\"> </span>firmato <span class=\"_ _2a\"> </span>con <span class=\"_\"> </span>Aurubis, <span class=\"_ _2a\"> </span>finalizzato<span class=\"ff56\"> <span class=\"_\"> </span><span class=\"ls1\">dopo </span></span>l'approvazione <span class=\"_ _0\"></span>da parte <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>autorit\u00e0 <span class=\"_ _0\"></span>competenti <span class=\"_ _0\"></span>per il <span class=\"_ _0\"></span>controllo <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>fusioni nel <span class=\"_ _0\"></span>maggio <span class=\"_ _0\"></span>2022; tali <span class=\"_ _2b\"></span>saldi <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>rappresentati <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>movimentazione <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>immobilizzazioni <span class=\"_ _2b\"></span>come <span class=\"_ _2b\"></span>\u201cVariazione <span class=\"_ _2b\"></span>area di <span class=\"_ _2d\"> </span>consolidamento <span class=\"_ _2a\"> </span>KME <span class=\"_ _2d\"> </span>SE\u201d <span class=\"_ _2d\"> </span>rappresentata <span class=\"_ _2a\"> </span><span class=\"ff56\">in <span class=\"_ _2d\"> </span>alcune <span class=\"_ _2d\"> </span>tabelle <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>movimentazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2a\"> </span>note </span>esplicative <span class=\"ff5d\">(\u201cVariazione area di consoli</span>damento KME SE<span class=\"ff5d\">\u201d rappresentata nelle tabelle delle note </span>esplicative). Tramite <span class=\"_ _2b\"></span>questo <span class=\"_ _2b\"></span>accordo <span class=\"_ _2b\"></span>KME <span class=\"_ _2b\"></span>SE <span class=\"_ _29\"></span>ha <span class=\"_ _2b\"></span>quindi <span class=\"_ _2b\"></span>completato <span class=\"_ _2b\"></span>l'acquisto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>parte <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Aurubis nel <span class=\"_ _29\"></span>settore <span class=\"_ _2b\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>laminati <span class=\"_ _2b\"></span>piani. Il <span class=\"_ _2b\"></span>prezzo pagato <span class=\"_ _2b\"></span>per l'acquisto <span class=\"_ _2b\"></span>\u00e8 di <span class=\"_ _2b\"></span>Euro <span class=\"ls1\">19<span class=\"lsd\">,4</span></span> <span class=\"_ _2b\"></span>milioni anche <span class=\"_ _2b\"></span>a fronte di <span class=\"_ _2b\"></span>disponibilit\u00e0 <span class=\"_ _2b\"></span>liqui<span class=\"_ _0\"></span>de <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>8,5 <span class=\"_ _2b\"></span>milioni <span class=\"_ _29\"></span>nelle <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>acquisite <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>l <span class=\"_ _2b\"></span><span class=\"ff5a\">closing<span class=\"ff56\">. <span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>KME </span></span>SE <span class=\"_ _3c\"> </span><span class=\"ls0\">ha <span class=\"_ _49\"> </span>in<span class=\"_ _0\"></span>oltre <span class=\"_ _3c\"> </span>rimbo<span class=\"_ _0\"></span>rsato <span class=\"_ _49\"> </span>ad <span class=\"_ _49\"> </span>Aurubis <span class=\"_ _3c\"> </span>un<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>pr<span class=\"_ _0\"></span>estito <span class=\"_ _49\"> </span>intersocietario <span class=\"_ _49\"> </span>di <span class=\"_ _46\"> </span>Euro <span class=\"_ _3c\"> </span>53,4 <span class=\"_ _49\"> </span>milioni, </span>corrispondente <span class=\"_ _2b\"></span>a un <span class=\"_ _2b\"></span>pari <span class=\"_ _2b\"></span>impo<span class=\"_ _0\"></span>rto <span class=\"_ _2b\"></span>di capitale <span class=\"_ _2b\"></span>circolante <span class=\"_ _2b\"></span>net<span class=\"_ _0\"></span>to <span class=\"_ _29\"></span>nelle <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>target al <span class=\"_ _2b\"></span>momento <span class=\"_ _29\"></span>della chiusura. Con <span class=\"_ _23\"></span>riferimento <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>suddette <span class=\"_ _23\"></span>entit\u00e0, <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riportano<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>seguito <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>iscritte <span class=\"_ _23\"></span>in bilancio <span class=\"ff5d\">in seguito all\u2019allocazione del pr<span class=\"_ _0\"></span>ezzo di acquisto (Purchase Price Allocation <span class=\"_ _0\"></span>o \u201cPPA\u201d)<span class=\"_ _0\"></span></span>: (in migliaia di Euro) Post PPA di cui effetti PPA 69.448  39.832  Immobili, impianti e macc<span class=\"_ _29\"></span>hinari 688   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 immateriali 14.750  12.631  Attivit\u00e0 per imposte differite<span class=\"_ _29\"></span> 57.507   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Rimanenze 32.857   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Crediti commerciali 15.070   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 finanziarie correnti 2.075   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri crediti ed attivit\u00e0 correnti 8.516   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 200.911  52.463  Totale Attivit\u00e0 (700)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Benefici ai dipendenti (14.597) (10.277) Passivit\u00e0 per imposte differite (914)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (61.204)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (48.695)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti verso fornitori (8.813)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 correnti (150)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Fondi per rischi ed oneri (135.073) (10.277) Totale Passivit\u00e0 65.838  42.186  Totale Attivit\u00e0 (Passivit\u00e0) nette",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__26": {
   "value": "2.6.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Operazioni in valuta estera Valuta funzionale del Gruppo Come <span class=\"_ _23\"></span>gi\u00e0 <span class=\"_ _28\"></span>specificato <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>precedenza, <span class=\"_ _28\"></span>tutti <span class=\"_ _23\"></span>gli <span class=\"_ _28\"></span>importi <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>espressi <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>Euro <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>rappresenta <span class=\"_ _23\"></span>anche <span class=\"_ _28\"></span>la valuta funzionale della Capogruppo<span class=\"_ _0\"></span>.  Conversione dei bilanci in moneta diversa dall\u2019Euro<span class=\"_ _0\"></span><span class=\"ff5a\"> </span>I <span class=\"_\"> </span>bilanci <span class=\"_\"> </span>delle <span class=\"_ _2a\"> </span>entit\u00e0 <span class=\"_\"> </span>consolidate <span class=\"_\"> </span>che <span class=\"_\"> </span>sono <span class=\"_ _2a\"> </span>espressi <span class=\"_\"> </span>in <span class=\"_\"> </span>valuta <span class=\"_ _2a\"> </span>estera <span class=\"_\"> </span>sono <span class=\"_\"> </span>stati <span class=\"_\"> </span>convertiti <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>Euro applicando <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>singole <span class=\"_ _2b\"></span>poste <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>conto <span class=\"_ _2b\"></span>econo<span class=\"_ _0\"></span>mico <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>cambi <span class=\"_ _2b\"></span>medi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>esercizio <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>quelle <span class=\"_ _2b\"></span>dello <span class=\"_ _2b\"></span>stato <span class=\"_ _2b\"></span>patrimoniale i cambi correnti alla data di chiusura d<span class=\"_ _0\"></span>i detto bilancio.  I tassi di cambio utilizzati per la conversione d<span class=\"_ _0\"></span>elle valute estere sono i <span class=\"_ _0\"></span>seguenti: 31/12/2022 Medio 2022 Cambio puntuale Cambio medio GBP - Lira sterlina             0,8872            0,8689    RMB - Yuan cinese             7,3650            7,0790    HKD - Dollaro di Hong Kong             8,3241            8,2016    USD <span class=\"ls0\">- Dollaro USA </span>            1,0675            1,0474    La <span class=\"_ _2b\"></span>differenza <span class=\"_ _2b\"></span>tra <span class=\"_ _2b\"></span>l\u2019utile <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">esercizio <span class=\"_ _2b\"></span>quale <span class=\"_ _2b\"></span>risulta <span class=\"_ _2b\"></span>dalla <span class=\"_ _2b\"></span>conversione <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>cambi <span class=\"_ _2b\"></span>medi <span class=\"_ _2b\"></span>del<span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>quello </span>risultante <span class=\"_ _28\"></span>dalla <span class=\"_ _2c\"></span>conversione <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>base <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>cambi <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>fine <span class=\"_ _2c\"></span>dicembre <span class=\"_ _28\"></span>20<span class=\"_ _0\"></span>22, <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>competenza <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>presente <span class=\"_ _2c\"></span>Bilancio<span class=\"_ _0\"></span> Consolidato<span class=\"ff5d\">, <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>affluita <span class=\"_ _23\"></span>nelle <span class=\"_ _0\"></span>\u201cAltre <span class=\"_ _23\"></span>riserve\u201d <span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>nel <span class=\"_ _0\"></span>\u201cPatrimonio<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>terzi\u201d <span class=\"_ _23\"></span>rispettivamente <span class=\"_ _0\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>part<span class=\"_ _0\"></span></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> competenza del Gruppo e delle minoranz<span class=\"_ _0\"></span>e.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__28": {
   "value": "2.7.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Principi contabili adottati 2.7.1.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Immobili, impianti e macchinari </span></span>2.7.1.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Beni strumenta<span class=\"_ _0\"></span>li di propriet\u00e0 Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>macchinari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo <span class=\"_ _0\"></span>d\u2019acquisizione <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>produzione, <span class=\"_ _0\"></span>comprensivo degli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>acce<span class=\"_ _29\"></span>ssori <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>diretta <span class=\"_ _23\"></span>imputazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>esposti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>relativi <span class=\"_ _28\"></span>ammortamenti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>eventuali perdite di valore determina<span class=\"_ _0\"></span>te secondo le mod<span class=\"_ _0\"></span>alit\u00e0 descritte in <span class=\"_ _0\"></span>seguito. Se un<span class=\"_ _0\"></span> elemento di immobili,<span class=\"_ _0\"></span> impianti e macchinari <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _2c\"></span>composto <span class=\"_ _2c\"></span>da <span class=\"_ _2c\"></span>vari <span class=\"_ _28\"></span>compo<span class=\"_ _0\"></span>nenti <span class=\"_ _2c\"></span>aventi <span class=\"_ _28\"></span>vite <span class=\"_ _2c\"></span>utili <span class=\"_ _2c\"></span>differenti, <span class=\"_ _28\"></span>tali <span class=\"_ _2c\"></span>componenti <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>contabilizzati separatamente. Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>macchinari sono <span class=\"_ _22\"></span>valutati <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo, <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _0\"></span>ammortamenti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>perdite di valore <span class=\"_ _0\"></span>accumulate, ad <span class=\"_ _0\"></span>eccezione dei <span class=\"_ _0\"></span>terreni che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>sono ammortizzati <span class=\"_ _0\"></span>e che <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>valutati al <span class=\"_ _0\"></span>costo al <span class=\"_ _0\"></span>netto delle perdite di valore accumulate. I <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>manutenzione <span class=\"_ _2f\"> </span>ordinaria <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>spesati <span class=\"_ _2f\"> </span>nell\u2019esercizio <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>sostenimento <span class=\"_ _2f\"> </span>mentre <span class=\"_ _2f\"> </span>i <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di sostituzione <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>alcune <span class=\"_ _0\"></span>parti <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>immobilizzazioni <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>manutenzione <span class=\"_ _0\"></span>straord<span class=\"_ _0\"></span>inaria <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>capitalizzati quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>probabile <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>derivino <span class=\"_ _23\"></span>futuri <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>misurabili. <span class=\"_ _23\"></span>Gli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>relativi all\u2019acquisto di immobilizzazioni sono<span class=\"_ _0\"></span> capitalizzati ai sensi dello IAS 23.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Gli ammortamenti sono contabilizzati a partire d<span class=\"_ _0\"></span>al mese in cui il cespite \u00e8 disponibile per l\u2019uso, oppure \u00e8 <span class=\"_ _22\"></span>potenzialmente <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>grado <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>economici <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>esso <span class=\"_ _22\"></span>associati. <span class=\"_ _22\"></span>Sono<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>imputati <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>mensile <span class=\"_ _22\"></span>a quote costanti fino ad esaurimento della vita utile, <span class=\"_ _0\"></span>oppure, per le dismissioni, fino all\u2019ultimo mese di utilizzo.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>La vi<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>utile \u00e8 <span class=\"_ _0\"></span>costantemente <span class=\"_ _0\"></span>verificata <span class=\"_ _0\"></span>tene<span class=\"_ _0\"></span><span class=\"ff5d\">ndo <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>considerazione <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>cambiamenti <span class=\"_ _0\"></span>nell\u2019intensit\u00e0 </span>di <span class=\"_ _2d\"> </span>utilizzo <span class=\"_ _2d\"> </span>dei <span class=\"_ _2a\"> </span>beni <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>eventuali <span class=\"_ _2d\"> </span>cambiamenti <span class=\"_ _2a\"> </span>ai <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>d\u2019ammortamento <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>apportati <span class=\"_ _2d\"> </span>con <span class=\"_ _2d\"> </span>applicazione prospettica. Gli ammortamenti sono calcolati in base alle seguenti <span class=\"_ _0\"></span>vite utili: Fabbricati da 25 a 50 anni Impianti e macchinari da 10 a 40 anni Altre attrezzature da 5 a 15 anni Al momento della dismissione, il costo e il corrispon<span class=\"_ _0\"></span>dente ammortamento accumulato vengono eliminati; eventuali utili o perdite vengono registrati <span class=\"_ _0\"></span>nel conto economico. <span class=\"_ _0\"></span> 2.7.1.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Immobilizzazioni <span class=\"_ _0\"></span>in leasing  Un contratto, <span class=\"_ _0\"></span>o parte <span class=\"_ _0\"></span>di esso, <span class=\"_ _0\"></span>\u00e8 classificato <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _0\"></span>se, in cambio <span class=\"_ _0\"></span>di un <span class=\"_ _0\"></span>corrispettivo, conferisce <span class=\"_ _0\"></span>il diritto <span class=\"_ _2b\"></span>di controllare <span class=\"_ _2b\"></span>l'utilizzo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un'attivit\u00e0 specificata <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>un periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>tempo,<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>quindi, <span class=\"_ _29\"></span>se <span class=\"_ _2b\"></span>lungo tutt<span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>il periodo di utilizzo del bene si godr\u00e0 di entrambi i seguenti di<span class=\"_ _0\"></span>ritti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>di ott<span class=\"_ _29\"></span>enere <span class=\"_ _2b\"></span>sostan<span class=\"_ _0\"></span>zialmente <span class=\"_ _2b\"></span>tu<span class=\"_ _0\"></span>tti <span class=\"_ _2b\"></span>i benefici <span class=\"_ _2b\"></span>economici <span class=\"_ _29\"></span>derivanti <span class=\"_ _2b\"></span>dall'utilizzo dell'attivit\u00e0;  </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il diritto di decidere sull'utilizzo dell'attivit\u00e0.<span class=\"_ _0\"></span> </span></span>In caso di modifica dei termini e delle con<span class=\"_ _0\"></span>dizioni del contratto si procede ad una nuova valutazione p<span class=\"_ _0\"></span>er determinare se il contratto \u00e8 o contiene un leasing.<span class=\"_ _0\"></span> Il Gruppo non applica le presenti regole:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasin</span>g di attivit\u00e0 immateriali; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasing</span> a breve termine (durata minore o ugu<span class=\"_ _0\"></span>ale a 12 mesi). </span></span>Tutti <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span><span class=\"ff5a\">leasing <span class=\"_ _22\"></span></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>l'attivit\u00e0 <span class=\"_ _22\"></span>sottostante <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>modesto <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(attivit\u00e0 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>unitario <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>minore <span class=\"_ _22\"></span>o uguale a Euro 5.000) rientrano nell\u2019applicazione del mod<span class=\"_ _0\"></span>ello di calcolo del diritto d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Una <span class=\"_ _28\"></span>volta <span class=\"_ _28\"></span>verificato <span class=\"_ _2c\"></span>se <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>contratto <span class=\"_ _28\"></span>si <span class=\"_ _2c\"></span>configuri <span class=\"_ _28\"></span>quale <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>decorrenza <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>contratto vengono rilevate l'attivit\u00e0 consistente n<span class=\"_ _0\"></span>el diritto di utilizzo e la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>. La valutazione iniziale dell'attivit\u00e0 consistente nel diritto d<span class=\"_ _0\"></span>i utilizzo avviene al costo che comprende:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">l'importo della valutazione iniziale della passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _22\"></span>do<span class=\"_ _0\"></span>vuti <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _23\"></span>effettuati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>prima <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto </span></span>degli incentivi al <span class=\"ff5a\">leasing</span> ricevuti; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i costi iniziali diretti sostenuti dal locatario; e<span class=\"_ _0\"></span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">la <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>costi <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>dovranno <span class=\"_ _22\"></span>sostenere <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>smantellamento <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>l<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>rimozion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dell'attivit\u00e0 </span></span>sottostante <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>ripristino <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>sito <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>ubicata <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>rip<span class=\"_ _0\"></span>ristino <span class=\"_ _22\"></span>dell'attivit\u00e0 <span class=\"_ _23\"></span>sottostante nelle condizioni previste dai termini e dalle cond<span class=\"_ _0\"></span>izioni del <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. La <span class=\"_ _0\"></span>valutazione <span class=\"_ _22\"></span>iniziale <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>avviene <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>pagamenti <span class=\"_ _0\"></span>dovuti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>versati <span class=\"_ _2d\"> </span>a <span class=\"_ _2c\"> </span>tale<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>data. <span class=\"_ _2c\"></span>I <span class=\"_ _2d\"> </span>pagamenti <span class=\"_ _2d\"> </span>dovuti <span class=\"_ _2c\"></span>per <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span></span>leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>attualizzati <span class=\"_ _2d\"> </span>utilizzando <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>tasso <span class=\"_ _2d\"> </span>di </span>finanziamento ritenuto maggiormente rappresentativo<span class=\"_ _0\"></span> del costo del denaro.<span class=\"_ _0\"></span> La <span class=\"_ _41\"> </span>contabil<span class=\"_ _0\"></span>izzazione <span class=\"_ _41\"> </span>co<span class=\"_ _0\"></span><span class=\"ls15\">me <span class=\"_ _41\"> </span></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span> <span class=\"_ _3c\"> </span>avviene <span class=\"_ _41\"> </span>per <span class=\"_ _3c\"> </span>ogni <span class=\"_ _3c\"> </span>componente <span class=\"_ _41\"> </span>di <span class=\"_ _3c\"> </span><span class=\"ff5a\">leasing</span> <span class=\"_ _3c\"> </span>separandola <span class=\"_ _41\"> </span>dalle componenti non di <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. La <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>determinata <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>annullabile <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>vanno <span class=\"_ _22\"></span>aggiu<span class=\"_ _0\"></span>nti entrambi i seguenti periodi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _2b\"></span>coperti <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>un'opzione <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>proroga <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g<span class=\"ff56\">, <span class=\"_ _2b\"></span>se <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>ragio<span class=\"_ _0\"></span>nevole <span class=\"_ _2b\"></span>certezza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esercitare </span></span></span></span>l'opzione; e \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _23\"></span>coperti <span class=\"_ _22\"></span>dall'opzione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>risoluzione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ha <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>ragionevole <span class=\"_ _22\"></span>certezza <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>non<span class=\"_ _0\"></span> </span></span>esercitare l'opzione. In caso di <span class=\"_ _29\"></span>cambiamento del periodo <span class=\"_ _29\"></span>non annullabile del <span class=\"ff5a\">leasing</span>, <span class=\"_ _29\"></span>si provvede alla <span class=\"_ _2b\"></span>rid<span class=\"_ _0\"></span>eterminazione della durata del <span class=\"ff5a\">leasing</span>. Dopo <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>iscrizione <span class=\"_ _0\"></span>iniziale, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>dell'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>avviene <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>modello <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>costo. Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>nsistenti <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>diritto <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>utili<span class=\"_ _29\"></span>zzo <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>ammortizzate <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>contratto <span class=\"_ _22\"></span>sino <span class=\"_ _22\"></span>a<span class=\"_ _0\"></span>l termine della durata del <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. Dopo la data di decorrenza la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> \u00e8 valutata: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">aumentando il valore contabile per tener co<span class=\"_ _0\"></span>nto degli interessi sulla passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">diminuendo il valore contabile per tener co<span class=\"_ _0\"></span>nto dei pagamenti effettuati per il <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">rideterminando <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>tener <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>nuove <span class=\"_ _22\"></span>valutazioni <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>modifiche </span></span>del <span class=\"ff5a\">leasing</span> o della revisione dei pagamen<span class=\"_ _0\"></span>ti dovuti per il <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. Gli <span class=\"_ _23\"></span>interessi <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>variabili <span class=\"_ _23\"></span>dovuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>nella valutazione della passivit\u00e0 <span class=\"_ _29\"></span>del <span class=\"ff5a\">leasing</span>, sono <span class=\"_ _29\"></span>rilevati a <span class=\"_ _29\"></span>conto economico <span class=\"_ _29\"></span>nell'esercizio in cui <span class=\"_ _29\"></span>si verifica <span class=\"_ _29\"></span>l'evento o la circostanza che fa scattare i pagamen<span class=\"_ _0\"></span>ti. In bilancio <span class=\"_ _0\"></span>le attivit\u00e0 <span class=\"_ _0\"></span>consistenti <span class=\"_ _0\"></span>nel diritto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo sono <span class=\"_ _0\"></span>esposte separatamente<span class=\"_ _0\"></span> dalle <span class=\"_ _0\"></span>altre att<span class=\"_ _0\"></span>ivit\u00e0, le passivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _2c\"></span>separatamente <span class=\"_ _28\"></span>dalle <span class=\"_ _2c\"></span>altre <span class=\"_ _28\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>gli <span class=\"_ _2c\"></span>interessi <span class=\"_ _28\"></span>passivi <span class=\"_ _2c\"></span>sulla <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>del leasing<span class=\"ff56\"> <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _2e\"> </span>come <span class=\"_ _2e\"> </span>oneri <span class=\"_ _2f\"> </span>finanziari <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2e\"> </span>quota <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>ammortamento <span class=\"_ _2e\"> </span>dell'attivit\u00e0 </span>consistente nel diritto di utilizzo. 2.7.1.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Perdite di valore delle im<span class=\"_ _0\"></span>mobilizzazioni <span class=\"_ _0\"></span> In presenza di indicatori specifici di perdite di valore, immobili, impianti e macchinari sono soggetti ad una <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test<span class=\"_ _0\"></span></span>\u201d). <span class=\"_ _22\"></span>La <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>siste <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>ore <span class=\"_ _22\"></span>recuperabil<span class=\"_ _0\"></span>e dell\u2019attivit\u00e0, definito <span class=\"_ _0\"></span>come il <span class=\"_ _0\"></span>maggiore fra <span class=\"_ _0\"></span>il prezzo <span class=\"_ _0\"></span>netto di ven<span class=\"_ _0\"></span>dita e il <span class=\"_ _0\"></span>suo valore <span class=\"_ _0\"></span>d\u2019uso, <span class=\"_ _0\"></span>e nel confronto <span class=\"_ _0\"></span>con il <span class=\"_ _23\"></span>relativo <span class=\"_ _28\"></span>val<span class=\"ff5d\">ore <span class=\"_ _23\"></span>netto <span class=\"_ _28\"></span>contabile. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>recuperabile <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>maggior<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>d\u2019uso <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>suo <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span></span> dedotti <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinar<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>d\u2019uso <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>attesi <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>attualizzati <span class=\"_ _0\"></span>utilizzando<span class=\"_ _0\"></span> un <span class=\"_ _0\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto, <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>lordo <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>impost<span class=\"_ _0\"></span>e, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>rifletta <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>valutazioni <span class=\"_ _22\"></span>correnti <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>te<span class=\"_ _0\"></span>mporale del <span class=\"_\"> </span>denaro <span class=\"_ _8b\"> </span>e <span class=\"_ _2e\"> </span>dei <span class=\"_\"> </span>rischi <span class=\"_ _8b\"> </span>s<span class=\"_ _0\"></span>pecifici <span class=\"_\"> </span>dell\u2019<span class=\"_ _0\"></span>attivit\u00e0. <span class=\"_\"> </span>Se <span class=\"_ _8b\"> </span>il <span class=\"_ _8b\"> </span>valo<span class=\"_ _0\"></span>re <span class=\"_\"> </span>recuperabile <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_\"> </span>inferiore <span class=\"_ _8b\"> </span>al <span class=\"_ _8b\"> </span>va<span class=\"_ _0\"></span>lore <span class=\"_\"> </span>contabile, quest\u2019ultimo <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>recuperabile; <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>riduzione <span class=\"_ _22\"></span>viene <span class=\"_ _22\"></span>impu<span class=\"_ _0\"></span><span class=\"ff56\">tata <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>ov<span class=\"_ _0\"></span>vero <span class=\"_ _22\"></span>a </span>riserva <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>rivalutazione <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>stata <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2b\"></span>costituita in <span class=\"_ _2b\"></span>sede <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riv<span class=\"_ _0\"></span>alutazione <span class=\"_ _2b\"></span>dell\u2019attivit\u00e0 <span class=\"_ _29\"></span>interessata. Successive ed eventuali rivalutazioni seguon<span class=\"_ _0\"></span>o il percorso inverso.  2.7.2.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Investimenti immobiliari </span></span>Si <span class=\"_ _0\"></span>tratta <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _0\"></span>utilizzati <span class=\"_ _22\"></span>nella <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>oduzione <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>fornitura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>scopi <span class=\"_ _22\"></span>amministrativi <span class=\"_ _22\"></span>da parte del Grupp<span class=\"_ _0\"></span>o ma di <span class=\"_ _0\"></span>terreni e i <span class=\"_ _0\"></span>fabbricati detenuti <span class=\"_ _0\"></span>per ottenere canoni<span class=\"_ _0\"></span> di locazione e/o <span class=\"_ _0\"></span>per l'apprezzamento<span class=\"_ _0\"></span> del <span class=\"_ _2d\"> </span>capitale <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>vestito. <span class=\"_ _2d\"> </span>La <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>tali <span class=\"_ _2a\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>segue <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>modello <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span><span class=\"lsb\">, <span class=\"_ _2d\"> </span></span>rilevando <span class=\"_ _2a\"> </span>eventuali variazioni a conto economico e quindi non soggette a sistematico a<span class=\"_ _0\"></span>mmortamento. <span class=\"_ _0\"></span> Per <span class=\"_\"> </span>la <span class=\"_\"> </span>determinazione <span class=\"_\"> </span>del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>si <span class=\"_\"> </span>fa <span class=\"_\"> </span>riferime<span class=\"_ _29\"></span>nto <span class=\"_\"> </span>ad <span class=\"_\"> </span>un <span class=\"_\"> </span>valore <span class=\"_\"> </span>determinato <span class=\"_\"> </span>prevalentemente attraverso <span class=\"_ _22\"></span>perizie <span class=\"_ _23\"></span>esterne, <span class=\"_ _22\"></span>redatte <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>terzi <span class=\"_ _23\"></span>indipendenti <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>qualifiche <span class=\"_ _22\"></span>professionali <span class=\"_ _22\"></span>riconosciute <span class=\"_ _23\"></span>e che <span class=\"_ _2b\"></span>vantano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esperienze <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>tipol<span class=\"_ _0\"></span>ogia <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>immobili. <span class=\"_ _2b\"></span>Tali perizie <span class=\"_ _2b\"></span>si <span class=\"_ _2b\"></span>basano sul <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>metro <span class=\"_ _2b\"></span>quadrato stimato sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tazioni <span class=\"_ _0\"></span>effettuate <span class=\"_ _22\"></span>dall\u2019agenzia<span class=\"ff56\"> <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>territorio <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>immobili <span class=\"_ _22\"></span>ubicati <span class=\"_ _0\"></span>nella <span class=\"_ _22\"></span>stessa <span class=\"_ _0\"></span>area, <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>la </span>stessa <span class=\"_ _2c\"></span>destinazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2c\"> </span>considerand<span class=\"_ _0\"></span>o <span class=\"_ _2c\"></span>lo <span class=\"_ _2c\"></span>stato <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>manutenzione <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>tenuto <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>potenzialit\u00e0 <span class=\"_ _2c\"></span>immobiliari future. <span class=\"_ _23\"></span>Gli <span class=\"_ _22\"></span>utili <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dalla <span class=\"_ _22\"></span>vendita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>investimento <span class=\"_ _23\"></span>immobiliare <span class=\"_ _22\"></span>s<span class=\"_ _0\"></span>ono <span class=\"_ _23\"></span>registrati <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>conto economico. 2.7.3.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 immateriali </span></span>Le attivit\u00e0 <span class=\"_ _29\"></span>immateriali sono <span class=\"_ _29\"></span>attivit\u00e0 non <span class=\"_ _2b\"></span>monetarie, identificabili e prive <span class=\"_ _29\"></span>di co<span class=\"_ _29\"></span>nsistenza <span class=\"_ _29\"></span>fisica, possedute per essere <span class=\"_ _2b\"></span>ut<span class=\"_ _0\"></span>ilizzate in <span class=\"_ _29\"></span>un periodo <span class=\"_ _29\"></span>pluriennale <span class=\"_ _29\"></span>o indefinito. <span class=\"_ _29\"></span>Sono <span class=\"_ _29\"></span>iscritte al <span class=\"_ _2b\"></span>costo<span class=\"_ _0\"></span>, rettificato per <span class=\"_ _29\"></span>eventuali oneri accessori <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _22\"></span>attribuibili <span class=\"_ _22\"></span>all\u2019attivit\u00e0 <span class=\"_ _23\"></span>si <span class=\"_ _22\"></span>realizzino <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>se <span class=\"_ _0\"></span>il <span class=\"_ _23\"></span>costo dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>stessa <span class=\"_ _0\"></span>pu<span class=\"_ _0\"></span>\u00f2 <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>determinato <span class=\"_ _0\"></span>attendib<span class=\"_ _0\"></span>ilmente. <span class=\"_ _0\"></span>In <span class=\"_ _22\"></span>caso <span class=\"_ _0\"></span>contrario <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>costo <span class=\"_ _22\"></span>dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>immaterial<span class=\"_ _22\"></span><span class=\"ff56 ls6\">e </span>\u00e8 rilevato a conto economico nell\u2019esercizio in cui<span class=\"_ _0\"></span> \u00e8 stato sostenuto.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>2.7.3.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Avviamento e ag<span class=\"_ _0\"></span>gregazioni aziendali L\u2019avviamento <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riferisce <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>differenza <span class=\"_ _28\"></span>fra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>acquisizione <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _28\"></span>ed <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore corrente <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>attivit\u00e0, <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>trollata <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _28\"></span>L'avviamento derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>aggregazioni <span class=\"_ _2f\"> </span>aziendali <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _2e\"> </span>contabilizzato <span class=\"_ _2f\"> </span>come <span class=\"_ _2e\"> </span>attivit\u00e0 <span class=\"_ _2e\"> </span>al <span class=\"_ _2e\"> </span>costo <span class=\"_ _2f\"> </span>al <span class=\"_ _2e\"> </span>netto <span class=\"_ _2e\"> </span>delle <span class=\"_ _2e\"> </span>svalutazioni accumulate. <span class=\"_ _41\"> </span>La <span class=\"_ _3c\"> </span>vita <span class=\"_ _41\"> </span>utile <span class=\"_ _3c\"> </span>dell'avviamento <span class=\"_ _41\"> </span>\u00e8 <span class=\"_ _3c\"> </span>indefinita, <span class=\"_ _41\"> </span>e <span class=\"_ _41\"> </span>quindi <span class=\"_ _3c\"> </span>esso <span class=\"_ _41\"> </span>non <span class=\"_ _3c\"> </span>\u00e8 <span class=\"_ _41\"> </span>soggetto <span class=\"_ _41\"> </span>a <span class=\"_ _3c\"> </span>processo <span class=\"_ _41\"> </span>di ammortamento. Un\u2019aggregazione <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>imprese <span class=\"_ _22\"></span>consiste <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>un\u2019unione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>imprese <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>aziendali <span class=\"_ _22\"></span>distin<span class=\"_ _0\"></span>te <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>unico soggetto <span class=\"_ _2f\"> </span>tenuto <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>redazione <span class=\"_ _2f\"> </span>del <span class=\"_ _2e\"> </span>bilancio. <span class=\"_ _2f\"> </span>L\u2019aggregazione <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2f\"> </span>pu\u00f2 <span class=\"_ _2f\"> </span>dar <span class=\"_ _2f\"> </span>luogo <span class=\"_ _2e\"> </span>ad <span class=\"_ _2f\"> </span>un <span class=\"_ _2f\"> </span>legame partecipativo <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"></span>capogru<span class=\"ff5d\">ppo <span class=\"_ _2d\"> </span>(acquirente) <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>controllata <span class=\"_ _2c\"> </span>(acquisita) <span class=\"_ _2d\"> </span>ovvero <span class=\"_ _2c\"> </span>pu\u00f2 <span class=\"_ _2d\"> </span>anche <span class=\"_ _2d\"> </span>prevedere <span class=\"_ _2c\"> </span>l\u2019acquisto </span>dell\u2019attivo netto di un\u2019altra impresa, incluso l\u2019ev<span class=\"_ _0\"></span>entuale avviamento.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>ha <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _28\"></span>l'approccio <span class=\"_ _28\"></span>contabile <span class=\"_ _2c\"></span>dell'acquisizione <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>aggregazioni <span class=\"_ _28\"></span>aziendali <span class=\"_ _28\"></span>secondo<span class=\"_ _0\"></span> l'<span class=\"ls0\">IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>analogia <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>comune; <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>tale <span class=\"_ _23\"></span>appro<span class=\"_ _0\"></span>ccio, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>corrispettivo </span>trasferito per l'investimento viene confrontato con le attivit\u00e0 nette della partecipata, che vengono rimisurate al fair <span class=\"_ _2c\"></span>value<span class=\"ff56\">. <span class=\"_ _2d\"> </span>Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _2d\"> </span>nette <span class=\"_ _28\"></span>sono <span class=\"_ _2d\"> </span>basate <span class=\"_ _28\"></span>sui <span class=\"_ _2d\"> </span></span>fair <span class=\"_ _2c\"></span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _28\"></span>e <span class=\"_ _2d\"> </span>delle <span class=\"_ _28\"></span>passivi<span class=\"_ _0\"></span>t\u00e0, <span class=\"_ _2c\"></span>comprese <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>attivit\u00e0 </span>immateriali identificabili e le passivit\u00e0 potenziali d<span class=\"_ _0\"></span>a riconoscere come pas<span class=\"_ _0\"></span>sivit\u00e0 alla data di acquisizion<span class=\"_ _0\"></span>e. Se <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>possibile <span class=\"_ _2b\"></span>ottenere <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>borsa <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato <span class=\"_ _2b\"></span>pubblicati <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>l'allocazione<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>prezzo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>acquisto (Purchase Price <span class=\"_ _2b\"></span>Allocation<span class=\"_ _0\"></span> o <span class=\"_ _2b\"></span>\u201cPPA\u201d), i <span class=\"ff5a\">fair <span class=\"_ _2b\"></span>valu<span class=\"_ _0\"></span>e<span class=\"ff56\"> sono <span class=\"_ _2b\"></span>calcolati sulla base <span class=\"_ _2b\"></span>di tecniche di <span class=\"_ _2b\"></span>valutazion<span class=\"_ _0\"></span>e adeguate. </span></span>In <span class=\"_ _22\"></span>genere, <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>utilizza <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>sco<span class=\"_ _0\"></span>ntati <span class=\"_ _22\"></span>(\u201cDCF\u201d); <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>questo <span class=\"_ _22\"></span>metodo, <span class=\"_ _23\"></span>i flussi <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>cassa <span class=\"_ _49\"> </span>futuri <span class=\"_ _49\"> </span>attesi <span class=\"_ _3c\"> </span>che<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _49\"> </span>essere <span class=\"_ _3c\"> </span>gen<span class=\"_ _0\"></span>erati <span class=\"_ _3c\"> </span>dall'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _3c\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>attualizzati <span class=\"_ _3c\"> </span>alla <span class=\"_ _49\"> </span>data <span class=\"_ _49\"> </span>del consolidamento iniziale utilizzando un ta<span class=\"_ _0\"></span>sso di sconto che riflette il rischio intrinseco dell'attivit\u00e0.<span class=\"_ _0\"></span> L'eventuale <span class=\"_ _2b\"></span>e<span class=\"_ _0\"></span>ccedenza <span class=\"_ _2b\"></span>del corrispettivo <span class=\"_ _2b\"></span>trasferito <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>l'attivit\u00e0 acquisita <span class=\"_ _2b\"></span>rispetto <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>quota <span class=\"_ _29\"></span>proporzionale delle attivit\u00e0 nette acquisite viene <span class=\"_ _29\"></span>rilevata separatamente come avviamento; l'eventuale differenza negativa, al momento <span class=\"_ _2f\"> </span>de<span class=\"_ _0\"></span>lla <span class=\"_ _41\"> </span>rivalutazione <span class=\"_ _41\"> </span>delle <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _41\"> </span>e <span class=\"_ _2f\"> </span>passi<span class=\"_ _0\"></span>vit\u00e0 <span class=\"_ _41\"> </span>acquisite, <span class=\"_ _2f\"> </span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _2f\"> </span>im<span class=\"_ _0\"></span>putata <span class=\"_ _41\"> </span>direttamente <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>co<span class=\"_ _0\"></span>nto economico. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>minoranza <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>valutate <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>loro <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>orzionale <span class=\"_ _0\"></span>dei <span class=\"_ _23\"></span><span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _28\"></span>nette <span class=\"_ _28\"></span>acquisite<span class=\"lsb\">. <span class=\"_ _28\"></span></span>I <span class=\"_ _23\"></span>costi <span class=\"_ _28\"></span>accessori, <span class=\"_ _28\"></span>quali <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>consulenti, <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>aggregazion <span class=\"_ _28\"></span>aziendali <span class=\"_ _23\"></span>s<span class=\"_ _0\"></span>ono imputati a costo quando sostenuti<span class=\"lsb\">. </span> Le <span class=\"_ _0\"></span>successive <span class=\"_ _0\"></span>variazioni <span class=\"_ _22\"></span>delle partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>consolidate <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>comportano <span class=\"_ _0\"></span>un cambiamento del metodo di con<span class=\"_ _0\"></span>solidamento sono trattate come operazioni sul capitale proprio.<span class=\"_ _0\"></span> La <span class=\"_ _29\"></span>recuperabilit\u00e0 <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore di <span class=\"_ _2b\"></span>iscrizion<span class=\"_ _0\"></span>e <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>verificata annualmente <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>comunque <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>si verificano eventi <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>facciano <span class=\"_ _2b\"></span>presupporre <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>eventuali <span class=\"_ _2b\"></span>svalutazioni <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>oggetto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>ripristini di valore. 2.7.3.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Altre attivit\u00e0 immateriali a<span class=\"_ _0\"></span> vita utile definita Riguardano <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ive <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>consistenza <span class=\"_ _22\"></span>fisica, <span class=\"_ _23\"></span>identificabili, <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>dall\u2019impresa <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>grado <span class=\"_ _23\"></span>di produrre benefici economici futuri.<span class=\"_ _0\"></span> Le attivit\u00e0 <span class=\"_ _0\"></span>immateriali sono <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>inizialmente e rispettivamente<span class=\"_ _0\"></span> al <span class=\"_ _0\"></span>costo e <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> comprensivi degli oneri di <span class=\"_ _0\"></span>diretta attribuzione. <span class=\"_ _0\"></span>Esse sono po<span class=\"_ _0\"></span>i ammortizzate sistematicamente <span class=\"_ _0\"></span>lungo la lo<span class=\"_ _0\"></span>ro vita utile intesa<span class=\"_ _0\"></span> come la <span class=\"_ _22\"></span>stima del <span class=\"_ _0\"></span>perio<span class=\"_ _0\"></span>do <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo, <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>genere <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un arco <span class=\"_ _22\"></span>temporale <span class=\"_ _0\"></span>fra <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>3 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>10 <span class=\"_ _0\"></span>anni. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>lo<span class=\"_ _0\"></span>ro valore <span class=\"_ _0\"></span>residuo<span class=\"_ _0\"></span> al termine della vita utile \u00e8 ipotizzato uguale a zero.<span class=\"_ _0\"></span> La vita utile viene riesaminata annualmente e, se necessario, le aspe<span class=\"_ _0\"></span>ttative future vengono adeguate.<span class=\"_ _0\"></span> Dette attivit\u00e0 <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>inoltre <span class=\"_ _0\"></span>espresse <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>svalutazion<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>riduzioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>adottando <span class=\"_ _0\"></span>i medesimi criteri indicati per la voce \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Immobili, impianti e macchinari<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d.</span><span class=\"ff56\"> </span>2.7.4.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Partecipazioni </span></span>2.7.4.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 collegate e a controllo <span class=\"_ _0\"></span>congiunto Per societ\u00e0 <span class=\"_ _2b\"></span>collegate si <span class=\"_ _29\"></span>intendono le<span class=\"_ _29\"></span> societ\u00e0 <span class=\"_ _2b\"></span>su cui <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>Gruppo esercita <span class=\"_ _2b\"></span>un\u2019influenza notevole. <span class=\"_ _29\"></span>L\u2019influenza notevole \u00e8 <span class=\"_ _0\"></span>il potere <span class=\"_ _0\"></span>di partecipare <span class=\"_ _0\"></span>alla determina<span class=\"_ _0\"></span>zione delle <span class=\"_ _0\"></span>politiche fin<span class=\"_ _0\"></span>anziarie e <span class=\"_ _0\"></span>gestionali della <span class=\"_ _0\"></span>partecipata senza averne <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span>trollo o <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span><span class=\"ff5d\">trollo <span class=\"_ _0\"></span>congiunto. Si <span class=\"_ _0\"></span>presume l\u2019esistenza <span class=\"_ _0\"></span>di in<span class=\"_ _0\"></span>fluenza notevole <span class=\"_ _0\"></span>nel caso <span class=\"_ _0\"></span>in cui<span class=\"_ _0\"></span> </span>il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>possegga <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>percentuale <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>diritti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>voto <span class=\"_ _0\"></span>compresa <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>20% <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>50% <span class=\"_ _0\"></span>(esclusi <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>casi <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>vi <span class=\"_ _0\"></span>sia controllo congiunto). Una <span class=\"_ _22\"></span><span class=\"ff5a\">joint <span class=\"_ _0\"></span>ventu<span class=\"_ _0\"></span>re</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>acc<span class=\"_ _0\"></span>ordo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>parti <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>han<span class=\"_ _0\"></span>no <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>trollo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>dell'accordo hanno diritti sulle attivit\u00e0 nette dell'accordo stesso. Il controllo congiunto \u00e8 la condivisione del controllo di un accordo <span class=\"_ _22\"></span>concordata <span class=\"_ _22\"></span>contrattualmente, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>esiste <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>quando <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>decisioni <span class=\"_ _22\"></span>sulle<span class=\"_ _22\"></span> <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>rilevanti <span class=\"_ _22\"></span>richiedono <span class=\"_ _22\"></span>il consenso unanime delle parti che condi<span class=\"_ _0\"></span>vidono il controllo.<span class=\"_ _0\"></span> In <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>metodo <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>netto, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>collegate <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto (c.d. <span class=\"_ _29\"></span>in <span class=\"ff5a\">joint <span class=\"_ _2b\"></span>venture)<span class=\"ff56\"> sono <span class=\"_ _29\"></span>incluse <span class=\"_ _2b\"></span>nel bilancio consolidato <span class=\"_ _2b\"></span>al costo <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione, <span class=\"_ _2b\"></span>rettificato per <span class=\"_ _29\"></span>le <span class=\"_ _29\"></span>variazioni </span></span>della <span class=\"_ _29\"></span>quota <span class=\"_ _2b\"></span>del Gruppo <span class=\"_ _2b\"></span>nell'utile o <span class=\"_ _2b\"></span>nella pe<span class=\"_ _29\"></span>rdita <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>nelle altre <span class=\"_ _2b\"></span>componenti di <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico <span class=\"_ _29\"></span>complessivo <span class=\"_ _29\"></span>della joint <span class=\"_ _23\"></span>venture<span class=\"ff56\"> <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _22\"></span>collegata <span class=\"_ _23\"></span>dopo <span class=\"_ _23\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _22\"></span>Le <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un<span class=\"_ _22\"></span><span class=\"ls3\">a <span class=\"_ _23\"></span></span></span>joint <span class=\"_ _22\"></span>venture<span class=\"ff56\"> <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>un<span class=\"_ _0\"></span>a </span>societ\u00e0 <span class=\"_ _28\"></span>colle<span class=\"_ _0\"></span>gata <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>eccedono<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>quota <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>partecip<span class=\"_ _0\"></span>azione <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>tale <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _28\"></span>vengono <span class=\"_ _2c\"></span>rilevate. Vengono <span class=\"_ _2d\"> </span>rilevate <span class=\"_ _2d\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ha <span class=\"_ _2d\"> </span>assunto <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2d\"> </span>legali <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>fatto <span class=\"_ _2d\"> </span>ad <span class=\"_ _2d\"> </span>assumere <span class=\"_ _2d\"> </span>per<span class=\"_ _0\"></span>dite <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>effettua pagamenti al posto de<span class=\"_ _0\"></span>lla <span class=\"ff5a\">joint venture</span> o della societ\u00e0 collegata. 2.7.4.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 controllate Le <span class=\"_ _23\"></span>quote <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>partecipazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>consolidate <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>costo <span class=\"_ _23\"></span>rettificato <span class=\"_ _23\"></span>per perdite <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>valore.<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Se <span class=\"_ _2d\"> </span>il <span class=\"_\"> </span>Gruppo <span class=\"_ _2a\"> </span>perde <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>controllo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>una <span class=\"_\"> </span>contr<span class=\"_ _29\"></span>ollat<span class=\"_ _0\"></span>a, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>partecipazion<span class=\"_ _0\"></span>e <span class=\"_ _2a\"> </span>residua <span class=\"_ _2d\"> </span>nella <span class=\"_\"> </span>ex controllata \u00e8 valutata al <span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> al momento della perdita del controllo<span class=\"_ _0\"></span>. 2.7.4.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>altre imprese Le <span class=\"_ _2e\"> </span>partecipazion<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>minoranza <span class=\"_ _2e\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _2e\"> </span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>data <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>acquisizione <span class=\"_ _2f\"> </span>in <span class=\"_ _2e\"> </span>base <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>loro <span class=\"_ _2f\"> </span>quota proporzionale delle attivit\u00e0 <span class=\"_ _2b\"></span>nette identificabili della societ\u00e0 <span class=\"_ _29\"></span>acquisita. Considerando che <span class=\"_ _2b\"></span>non hanno un <span class=\"_ _29\"></span>impatto significativo sul patrimonio netto, su<span class=\"_ _0\"></span>i risultati finanziari e sui risultati operativi d<span class=\"_ _0\"></span>el Gruppo<span class=\"_ _0\"></span> tali partecipazio<span class=\"_ _0\"></span>ni sono <span class=\"_ _23\"></span>misurate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span></span>rilevato <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>altre <span class=\"_ _23\"></span>componenti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>economico <span class=\"_ _23\"></span>complessivo <span class=\"_ _23\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"_ _0\"></span> <span class=\"_ _23\"></span></span><span class=\"ls6\">e </span>sono soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span><span class=\"ff5a\">im<span class=\"_ _0\"></span>pairment<span class=\"ff56\"> ai <span class=\"_ _2b\"></span>sensi IFRS <span class=\"_ _2b\"></span>9 (ad eccezione <span class=\"_ _2b\"></span>di quelle <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>cui il <span class=\"_ _29\"></span>Gruppo si <span class=\"_ _2b\"></span>\u00e8 avvalso <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ella </span></span>c.d. \u201c<span class=\"ff5a\">OCI <span class=\"_ _2b\"></span>Ele<span class=\"_ _0\"></span>ction<span class=\"ff5d ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\">In <span class=\"_ _29\"></span>assenza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> elementi <span class=\"_ _2b\"></span>id<span class=\"_ _0\"></span>onei ad <span class=\"_ _2b\"></span>identificare <span class=\"ls9\">il </span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value, i<span class=\"ff56\"> loro <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> possono <span class=\"_ _2b\"></span>essere </span></span></span></span></span></span></span></span>approssimati dai costi di acquisizione. <span class=\"_ _0\"></span> 2.7.5.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 e passivit\u00e0 finanziarie </span></span>Iscrizione e misurazione iniziale<span class=\"ff56\"> </span>Un'attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>(a <span class=\"_ _23\"></span>meno <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>tratti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>credito <span class=\"_ _28\"></span>commerciale <span class=\"_ _23\"></span>senza <span class=\"_ _28\"></span>una <span class=\"_ _23\"></span>compo<span class=\"_ _0\"></span>nente <span class=\"_ _23\"></span>di<span class=\"_ _22\"></span> finanziamento <span class=\"_ _2a\"> </span>significativa) <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>una <span class=\"_ _2d\"> </span>passivit\u00e0 <span class=\"_\"> </span>finanziaria <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>izialmente <span class=\"_ _2a\"> </span>valutata <span class=\"_ _2d\"> </span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pi<span class=\"_ _0\"></span>\u00f9, <span class=\"_ _2a\"> </span>per <span class=\"_ _2d\"> </span>un elemento non a <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value through profit <span class=\"_ _29\"></span>&amp; loss<span class=\"ff56\"> <span class=\"ff5d ls16\">(\u201c</span>FVTPL<span class=\"ff5d ls3\">\u201d)</span>, i <span class=\"_ _29\"></span>costi di transazione <span class=\"_ _29\"></span>direttamente attribuibili alla </span></span>sua acquisizione o emissione. <span class=\"_ _0\"></span> Le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>possono <span class=\"_ _2d\"> </span>essere <span class=\"_ _2c\"></span>costituita<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>disponibilit\u00e0 <span class=\"_ _2c\"> </span>liquide <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>equivalenti, investimenti, crediti commerciali e strumenti finanziari d<span class=\"_ _0\"></span>erivati con <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> positivo.  Le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>comprendono <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>derivant<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dall'emissione <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>un'obbligazione debiti <span class=\"_ _23\"></span>verso <span class=\"_ _22\"></span>banche, <span class=\"_ _23\"></span>debiti <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>debiti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>leasing <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>derivati <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\"> negativi. </span>Le <span class=\"_ _23\"></span>disponibilit\u00e0 <span class=\"_ _23\"></span>liq<span class=\"_ _0\"></span>uide <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>mezzi <span class=\"_ _23\"></span>equivalenti <span class=\"_ _23\"></span>comprendo<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _23\"></span>bancari <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>tit<span class=\"_ _0\"></span>oli <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>br<span class=\"_ _0\"></span>eve termine con<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>scadenza orig<span class=\"_ _0\"></span>inaria in<span class=\"_ _0\"></span>feriore <span class=\"_ _0\"></span>a tre <span class=\"_ _0\"></span>mesi <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>irrilevante di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>variazioni di<span class=\"_ _0\"></span> valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>e sono<span class=\"_ _0\"></span> valutati <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>nominale. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _28\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertiti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di chiusura del bilanci<span class=\"ls1\">o.</span> Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>altre <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _0\"></span>rilevate <span class=\"_ _23\"></span>inizialmente <span class=\"_ _22\"></span>quando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>diventa <span class=\"_ _22\"></span>parte delle disposizioni contrattuali dello strumento. <span class=\"_ _0\"></span> Classificazione e misurazione successiv<span class=\"_ _0\"></span>a<span class=\"ff56\"> </span>Le attivit\u00e0 e passivit\u00e0 finanziarie sono <span class=\"_ _0\"></span>classificate in tre diverse categorie: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutati al <span class=\"ff5a\">fair value</span> con impatto<span class=\"_ _0\"></span> a conto economico <span class=\"ff5d\">(\u201cFVTPL\u201d)<span class=\"_ _0\"></span></span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _2b\"></span>valutate <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>impatto <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2b\"></span>complessiva <span class=\"_ _29\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"ff56\">; </span></span></span></span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutate al costo ammortizzato <span class=\"ff5d\">(\u201c<span class=\"_ _0\"></span>CA\u201d)</span>. Strumenti finanziari valutati al fair value con impatto a <span class=\"_ _0\"></span>conto economico<span class=\"_ _0\"></span> Le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _2c\"> </span>finanziarie <span class=\"_ _2c\"> </span>acqui<span class=\"_ _0\"></span>site <span class=\"_ _28\"></span>o <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _28\"></span>con <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>fine <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"></span>vendita <span class=\"_ _2c\"></span>sono classificate come \u201cattivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span><span class=\"ff56\">finanziarie al <span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> </span>rilevato a conto economico\u201d.<span class=\"ff56\"> </span>Un\u2019attivit\u00e0 <span class=\"_ _2b\"></span>finanziaria <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>derivata pu\u00f2 <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>designata <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>qualora tale <span class=\"_ _2b\"></span>designazione <span class=\"_ _2b\"></span>consenta </span></span>di <span class=\"_ _22\"></span>evitare <span class=\"_ _23\"></span><span class=\"ff5a\">accounting <span class=\"_ _22\"></span>mismatch<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>valutazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>associate <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>criteri valutativi diversi. Le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, analogamente alle <span class=\"_ _2b\"></span>attivit\u00e0 finanziarie, possono <span class=\"_ _29\"></span>essere <span class=\"_ _2b\"></span>desi<span class=\"_ _0\"></span>gnate, coerentemente a quanto <span class=\"_ _0\"></span>disposto da <span class=\"_ _0\"></span>IFRS 9, <span class=\"_ _0\"></span>al momento <span class=\"_ _0\"></span>della rilevazione <span class=\"_ _0\"></span>iniziale, come <span class=\"_ _0\"></span>passivit\u00e0 finanziarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\">, purch\u00e9: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>tale <span class=\"_ _28\"></span>designazione <span class=\"_ _2c\"></span>elimini <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>riduca <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>tevolmente <span class=\"_ _28\"></span>una <span class=\"_ _2c\"></span>discordanza <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>altrimenti <span class=\"_ _28\"></span>risulterebb<span class=\"_ _0\"></span>e dalla valutazione su basi diverse di attivit\u00e0<span class=\"_ _0\"></span> o passivit\u00e0 e dei relativi utili e perd<span class=\"_ _0\"></span>ite; ovvero -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie, <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>entrambe <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>ge<span class=\"_ _0\"></span>stito <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>valutato <span class=\"_ _22\"></span>al fair <span class=\"_\"> </span>value<span class=\"ff56\"> <span class=\"_\"> </span>secondo <span class=\"_\"> </span>una <span class=\"_\"> </span>gestione <span class=\"_\"> </span>del <span class=\"_\"> </span>rischio <span class=\"_\"> </span>o <span class=\"_\"> </span>una <span class=\"_\"> </span>strategia <span class=\"_\"> </span>di <span class=\"_\"> </span>investimento <span class=\"_\"> </span>documentata </span>internamente agli Organi Amministrativi <span class=\"_ _0\"></span>delle entit\u00e0. Un\u2019attivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>classificata <span class=\"_ _0\"></span>fra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>finanziarie<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _0\"></span>ob<span class=\"_ _0\"></span>bligatoriamente <span class=\"_ _0\"></span>valutate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value<span class=\"_ _0\"></span></span> </span>qualora la <span class=\"_ _29\"></span>stessa <span class=\"_ _29\"></span>non soddisfi le <span class=\"_ _2b\"></span>condizion<span class=\"_ _0\"></span>i, in <span class=\"_ _29\"></span>termini di <span class=\"ff5a\">business <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>el<span class=\"ff56\"> o <span class=\"_ _29\"></span>di caratteristiche <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ei flussi di <span class=\"_ _2b\"></span>cassa,<span class=\"_ _0\"></span> </span></span>per la valutazione al costo ammortizzato o al <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> con impatto sulla red<span class=\"_ _0\"></span>ditivit\u00e0 complessiv<span class=\"ls3\">a.</span> In particolare sono classificati in questo portafoglio<span class=\"_ _0\"></span>: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>debito, <span class=\"_ _23\"></span>titoli <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>finanziame<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>cui <span class=\"_ _28\"></span><span class=\"ff5a\">business <span class=\"_ _28\"></span>model</span> <span class=\"_ _23\"></span>n<span class=\"_ _0\"></span>on <span class=\"_ _28\"></span>risulta <span class=\"_ _23\"></span>essere <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span><span class=\"ff5a\">held<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>to </span>collect<span class=\"ff56\"> n\u00e9 </span>held to collect and sell<span class=\"ff56\"> <span class=\"_ _0\"></span>ma che non appartengono al portafoglio di negoziazione;<span class=\"_ _0\"></span> </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>debito, <span class=\"_ _22\"></span>titoli <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>finanziamenti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>solamente <span class=\"_ _22\"></span>la corresponsione di capitale e interessi; <span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>quote di OICR; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>capitale <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>detenuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>finalit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>quali <span class=\"_ _28\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>applica l\u2019opzione <span class=\"_ _22\"></span>conc<span class=\"ff56\">essa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>impatto<span class=\"_ _0\"></span> </span>sulla redditivit\u00e0 complessiva. Attivit\u00e0 finanziarie valutate al fair value con impatto sulla redd<span class=\"_ _0\"></span>itivit\u00e0 complessiva<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>classificata <span class=\"_ _23\"></span>fra <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span><span class=\"ff56\">anziarie <span class=\"_ _23\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>impatto <span class=\"_ _28\"></span>sulla </span>redditivit\u00e0 complessiva qualora: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _23\"></span><span class=\"ff5a\">business <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>el</span></span></span> <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>perseguito <span class=\"_ _23\"></span>mediante <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>raccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"></span>finanziari contrattuali sia la vendita delle attivit\u00e0 finanziarie <span class=\"_ _0\"></span><span class=\"ff5e\">(\u201cheld<span class=\"ff5a\">-<span class=\"ls9\">to</span>-collect and<span class=\"_ _0\"></span> </span>sell\u201d)</span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresponsione di capitale e interessi.<span class=\"_ _0\"></span> Inoltre <span class=\"_\"> </span>sono <span class=\"_\"> </span>classificati <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>questa <span class=\"_\"> </span>cate<span class=\"_ _29\"></span>goria, <span class=\"_\"> </span>gli <span class=\"_\"> </span>strumenti <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>capitale <span class=\"_ _2a\"> </span>non <span class=\"_\"> </span>detenuti <span class=\"_\"> </span>per <span class=\"_ _2a\"> </span>finalit\u00e0 <span class=\"_\"> </span>di negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _22\"></span><span class=\"ff5d\">applica <span class=\"_ _22\"></span>l\u2019opzione <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>concessa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>esti </span>strumenti al <span class=\"ff5a\">fair value</span> con impatto sulla reddi<span class=\"_ _0\"></span>tivit\u00e0 complessiva. Strumenti finanziari valutate al costo ammortizzato<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 finanziaria \u00e8 classificata fra le attivit\u00e0 fin<span class=\"_ _0\"></span>a<span class=\"ff56\">nziarie valutate al costo ammortizzato q<span class=\"_ _0\"></span>ualora: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _22\"></span><span class=\"ff5a\">business <span class=\"_ _23\"></span>model</span></span></span> <span class=\"_ _22\"></span>sia <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>possesso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finalizzato <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>ra<span class=\"_ _0\"></span>ccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi finanziari contrattuali (<span class=\"ff5e\">\u201cheld<span class=\"_ _0\"></span><span class=\"ff5a\">- <span class=\"ls9\">to</span>-</span>collect\u201d</span><span class=\"ls7\">); </span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresp<span class=\"_ _0\"></span>onsione di capitale e interessi. Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>valutate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>ammortizzato <span class=\"_ _23\"></span>comprendono <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>(diversi dalle <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>negoziazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>da <span class=\"_ _2c\"></span>quelle <span class=\"_ _2c\"> </span>desig<span class=\"_ _0\"></span>nate <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>) <span class=\"_ _28\"></span>rapp<span class=\"_ _0\"></span>resentativi <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>diverse <span class=\"_ _2c\"></span>forme <span class=\"_ _2c\"> </span>di provvista di fondi da terzi. Misurazione del fair value Il <span class=\"ff5a ls0\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">delle <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e delle <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span></span>fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 <span class=\"_ _0\"></span>determinato al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>loro </span></span>rilevazione iniziale per mezzo del prezzo d<span class=\"_ _0\"></span>i transazione, pari quindi al corrispettivo pag<span class=\"_ _0\"></span>ato o ricevuto<span class=\"_ _0\"></span>. Successivamente, e <span class=\"_ _2b\"></span>ad ogni <span class=\"_ _2b\"></span>data di <span class=\"_ _2b\"></span>bilancio, il <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>degli strumenti <span class=\"_ _2b\"></span>finanziari quotati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un mercato </span></span>attivo <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>basa <span class=\"_ _0\"></span>sui <span class=\"_ _22\"></span>prezzi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. <span class=\"_ _0\"></span>I <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>utilizzati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>derivati <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span><span class=\"ff5a\">bid price</span>, <span class=\"_ _22\"></span>mentre <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>le passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>gli<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5a\">ask <span class=\"_ _22\"></span>price</span>. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>e</span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>strumenti <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>quotati <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>attivo <span class=\"_ _0\"></span>\u00e8 determinato <span class=\"_ _2b\"></span>utilizzando tecniche <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valutazione, <span class=\"_ _29\"></span>basate <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>serie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>metodi <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>as<span class=\"_ _0\"></span>sunzioni <span class=\"_ _2b\"></span>legate a <span class=\"_ _2b\"></span>condizioni di mercato alla data di bilancio.  Il <span class=\"_ _2b\"></span><span class=\"ff5a ls0\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>degli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>quotati <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>determinato <span class=\"_ _29\"></span>scontando <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>flussi <span class=\"_ _29\"></span>finanziari </span></span>futuri per mezzo del tasso di interesse di mercato alla d<span class=\"_ _0\"></span>ata di riferimento del bilancio.<span class=\"_ _0\"></span> Determinazione della perdita di valore (impairment)<span class=\"_ _0\"></span> Tutte <span class=\"_ _2b\"></span>le attivit\u00e0 <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, <span class=\"_ _2b\"></span>ad eccezione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span><span class=\"ff5e\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>e passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>fair <span class=\"_ _29\"></span>value </span>rilevato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>conto economico\u201d, <span class=\"_ _2b\"></span><span class=\"ff56\">son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>riduzione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>valore conformemente <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>definito </span>dall\u2019IFRS 9 e quindi considerando anche gli effett<span class=\"_ _0\"></span><span class=\"ff56\">i delle <span class=\"ff5a\">expected losses</span>. <span class=\"_ _0\"></span> </span>Una <span class=\"_ _2b\"></span>perdita <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un\u2019attivit\u00e0 <span class=\"_ _29\"></span>finanziaria <span class=\"_ _2b\"></span>valutata <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>costo <span class=\"_ _2b\"></span>ammortizzato <span class=\"_ _2b\"></span>corr<span class=\"_ _0\"></span>isponde <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenza fra <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _2c\"></span>contabile <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>il <span class=\"_ _2c\"></span>valore <span class=\"_ _28\"></span>attuale <span class=\"_ _28\"></span>dei <span class=\"_ _2c\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>stimati <span class=\"_ _2c\"></span>attesi <span class=\"_ _28\"></span>attualizzati <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>interesse effett<span class=\"ff5d\">ivo <span class=\"_ _2c\"> </span>originale. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>perdita <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>un\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>finanziaria <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span></span> <span class=\"_ _2c\"></span>rilevato <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"> </span>econo<span class=\"_ _0\"></span>mico complessivo \u00e8 calcolata sulla base del <span class=\"ff5a\">fair val<span class=\"_ _0\"></span>ue</span> di detta attivit\u00e0. Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>rilevate <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>conto <span class=\"_ _22\"></span>economico<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>quelle <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>strumenti finanziari di <span class=\"ff5a\">equity <span class=\"ff5d\">per cui il Gruppo si \u00e8 <span class=\"_ _29\"></span>avvalso dell\u2019opzione di classificarlo a <span class=\"ff5a\">fair value <span class=\"ff56\">con impatto a conto </span></span></span></span>economico complessivo (c.d. \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">OCI Election</span><span class=\"ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span></span>Le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2a\"> </span>ripristinate <span class=\"_ _2d\"> </span>se <span class=\"_\"> </span>il <span class=\"_ _2d\"> </span>s<span class=\"_ _0\"></span>uccessivo <span class=\"_ _2a\"> </span>incremento <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>valore <span class=\"_ _2a\"> </span>pu\u00f2 <span class=\"_\"> </span>essere <span class=\"_ _2d\"> </span>og<span class=\"_ _0\"></span>gettivamente collegato <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>evento <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>verificato <span class=\"_ _22\"></span>successivamente <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>riduzion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dello <span class=\"_ _0\"></span>stesso. <span class=\"_ _22\"></span>Nel <span class=\"_ _22\"></span>caso <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 valutate <span class=\"_ _2f\"> </span>al <span class=\"_ _2f\"> </span>costo <span class=\"_ _2f\"> </span>ammortizzato <span class=\"_ _2f\"> </span>e <span class=\"_ _2f\"> </span>delle <span class=\"_ _2f\"> </span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _2f\"> </span>value</span> <span class=\"_ _2f\"> </span>rilevato <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _41\"> </span>economico <span class=\"_ _2f\"> </span>complessivo corrispondenti a titoli di debito<span class=\"_ _0\"></span>, il ripristino \u00e8 rilevato a conto economico.<span class=\"_ _0\"></span> Cancellazione (Derecognition)  Il <span class=\"_ _8b\"> </span>Gruppo <span class=\"_ _2e\"> </span>elimina <span class=\"_ _2e\"> </span>un'attivit\u00e0 <span class=\"_ _8b\"> </span>finanziaria <span class=\"_ _2e\"> </span>quando <span class=\"_ _2e\"> </span>scadono <span class=\"_ _2e\"> </span>i <span class=\"_ _8b\"> </span>diritti <span class=\"_ _2e\"> </span>contrattuali <span class=\"_ _2e\"> </span>sui <span class=\"_ _8b\"> </span>flussi <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>c<span class=\"_ _22\"></span>assa dell'attivit\u00e0 <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>pure <span class=\"_ _0\"></span>trasferisce <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>diritti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>ricevere <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>contrattuali <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span>transazione <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> cui <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>trasferiti <span class=\"_ _22\"></span>sostanzialmente <span class=\"_ _23\"></span>tutti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _23\"></span>dell'attivit\u00e0 <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>il Gruppo non <span class=\"_ _0\"></span>trasferisce n\u00e9 mantiene sost<span class=\"_ _0\"></span>anzialmente tutti <span class=\"_ _0\"></span>i rischi e <span class=\"_ _0\"></span>i benefi<span class=\"_ _0\"></span>ci <span class=\"_ _0\"></span>della propriet\u00e0 e <span class=\"_ _0\"></span>non mantiene <span class=\"_ _0\"></span>il controllo dell'attivit\u00e0 finanziaria. Il Gruppo cancella <span class=\"_ _29\"></span>una passivit\u00e0 finanziaria quando i suoi <span class=\"_ _29\"></span>obblighi contrattuali sono estinti <span class=\"_ _29\"></span>o cancellati, o <span class=\"_ _23\"></span>scadono. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _23\"></span>elimina <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quand<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>suoi<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>termini <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>modificati <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i flussi <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>modificata <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>sostanzialmente <span class=\"_ _2d\"> </span>diversi, <span class=\"_ _2c\"></span>nel <span class=\"_ _2d\"> </span>qual <span class=\"_ _28\"></span>caso <span class=\"_ _2d\"> </span>una <span class=\"_ _2c\"></span>nuova <span class=\"_ _2c\"></span>passivit\u00e0 finanziaria <span class=\"_ _28\"></span>basata <span class=\"_ _23\"></span>sui <span class=\"_ _28\"></span>termi<span class=\"_ _0\"></span>ni <span class=\"_ _28\"></span>modificati <span class=\"_ _23\"></span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span>. <span class=\"_ _28\"></span>I <span class=\"_ _28\"></span>termini <span class=\"_ _23\"></span>contrattuali <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>considerati sostanzialmente <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>presenza <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>determinate <span class=\"_ _2b\"></span>car<span class=\"_ _0\"></span>atteristiche <span class=\"_ _2b\"></span>qualitative <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>attualizzato <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _23\"></span>differisce <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>almeno <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>10% <span class=\"_ _22\"></span>dal <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>attualizzato <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>restanti <span class=\"_ _22\"></span>flussi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>passivit\u00e0 finanziaria originale secondo <span class=\"_ _0\"></span>i nuovi termini. Al momento <span class=\"_ _0\"></span>dell'eliminazion<span class=\"_ _0\"></span>e di <span class=\"_ _0\"></span>una passivi<span class=\"_ _0\"></span>t\u00e0 finanziaria, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>differenza <span class=\"_ _0\"></span>tra il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _0\"></span>estinto e il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>(incluse <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>liquide <span class=\"_ _23\"></span>trasferite <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>assunte) <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rilevata <span class=\"_ _23\"></span>nel conto economico. Compensazione tra attivit\u00e0 e passivit\u00e0 f<span class=\"_ _0\"></span>inanziarie<span class=\"ff56\"> </span>Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>compensate <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>presentato <span class=\"_ _23\"></span><span class=\"ff5d\">l\u2019importo <span class=\"_ _22\"></span>netto</span> <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>prospetto della <span class=\"_ _2b\"></span>situazione patrimoniale-finanziaria <span class=\"_ _2b\"></span>quando, e <span class=\"_ _2b\"></span>solo <span class=\"_ _2b\"></span>quando, <span class=\"_ _2b\"></span>il Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>diritto <span class=\"_ _2b\"></span>legalmente esercitabile a <span class=\"_ _2d\"> </span>compensare <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>impo<span class=\"_ _0\"></span>rti <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>intende <span class=\"_ _2d\"> </span>liqui<span class=\"_ _0\"></span>darli <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>netta <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>realizzare <span class=\"_ _2d\"> </span>l'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>liquidare <span class=\"_ _2d\"> </span>la<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>passivit\u00e0 contemporaneamente. 2.7.6.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Strumenti finanziari derivati </span></span>Il Gruppo util<span class=\"_ _29\"></span>izza una <span class=\"_ _29\"></span>serie di <span class=\"_ _29\"></span>strumenti finanziari <span class=\"_ _29\"></span>derivati per gestire <span class=\"_ _29\"></span>la <span class=\"_ _29\"></span>propria<span class=\"_ _0\"></span> esposizione al <span class=\"_ _29\"></span>rischio di tasso di interesse e <span class=\"_ _29\"></span>di cambio. Tali strumenti comprendono operazioni di <span class=\"_ _29\"></span>cambio a termine, swa<span class=\"_ _29\"></span>p su valute, swap su valute incrociate, swap su tassi d'<span class=\"_ _0\"></span>interesse e cap su tassi d'interesse. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>i<span class=\"_ _0\"></span>nizialmente <span class=\"_ _28\"></span>iscritti <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>stipula <span class=\"_ _28\"></span>del contratto. Il <span class=\"ff5a\">fair value</span> viene adeguato a ogni successiva data di bilancio. Qualsiasi utile o perdit<span class=\"_ _0\"></span>a derivante da una variazione del <span class=\"ff5a\">fair value</span> di uno strumento finanziario derivato che non fa parte di una copertura dei flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>investimento <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>estero <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>efficace, viene <span class=\"_ _2b\"></span>rilevato nel <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>gli <span class=\"_ _2b\"></span>strumenti finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>una <span class=\"_ _2b\"></span>relazione di <span class=\"_ _2b\"></span>copertura, il momento della rilevazio<span class=\"_ _0\"></span>ne degli utili o <span class=\"_ _0\"></span>delle perdite dipende <span class=\"_ _0\"></span>dalla natura della copertura. <span class=\"_ _0\"></span>Il Gruppo <span class=\"_ _0\"></span>utilizza alcuni <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>coprire <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _28\"></span>riconosciute. <span class=\"_ _28\"></span>Inoltre, <span class=\"_ _2c\"></span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hedge <span class=\"_ _28\"></span>accou<span class=\"_ _0\"></span>nting</span> viene <span class=\"_ _0\"></span>applicato <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>alcuni <span class=\"_ _22\"></span>impegni <span class=\"_ _0\"></span>irrevo<span class=\"_ _0\"></span>cabili <span class=\"_ _22\"></span><span class=\"ff5a\">off <span class=\"_ _0\"></span>bala<span class=\"_ _0\"></span>nce</span>. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>operazioni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>camb<span class=\"_ _0\"></span>io <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutate voce per voce <span class=\"_ _29\"></span>al tasso a <span class=\"_ _29\"></span>termine della data di <span class=\"_ _29\"></span>bilancio e le <span class=\"_ _29\"></span>differenze di cam<span class=\"_ _29\"></span>bio derivanti dal tasso <span class=\"_ _29\"></span>di cambio a termine contrattato sono incluse nel conto econ<span class=\"_ _0\"></span>omico.  Gli importi de<span class=\"_ _29\"></span>i contratti di <span class=\"_ _29\"></span>swap su <span class=\"_ _29\"></span>tassi d'interesse <span class=\"_ _29\"></span>sono contabilizzati nel <span class=\"_ _29\"></span>conto economico al<span class=\"_ _29\"></span>la data di pagamento o <span class=\"_ _0\"></span>alla data<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>bilancio. In<span class=\"_ _0\"></span>oltre, i con<span class=\"_ _0\"></span>tratti di <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e swap <span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e cap <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti al loro <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>alla data <span class=\"_ _2b\"></span>di chiusura <span class=\"_ _2b\"></span>del bilancio <span class=\"_ _2b\"></span>e le <span class=\"_ _2b\"></span>variazioni del <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>sono rilevate <span class=\"_ _2b\"></span>nel conto <span class=\"_ _2b\"></span>economico </span></span></span></span>dell'esercizio in corso, a condizione che non si app<span class=\"_ _0\"></span>lichi l'hedge accounting.<span class=\"_ _0\"></span> Gli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>relazione <span class=\"_ _3d\"></span>di <span class=\"_ _2b\"></span>copertura <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>classificati <span class=\"_ _2b\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 o passivit\u00e0 finanziarie correnti.<span class=\"_ _0\"></span> Operazioni di copertura Il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>avvale <span class=\"_ _2b\"></span>dell'opzione <span class=\"_ _2b\"></span>prevista <span class=\"_ _29\"></span>dall'IFRS <span class=\"_ _2b\"></span>9 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>contin<span class=\"_ _0\"></span>uare <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>contabilizzazione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>operazioni di copertura in base ai requisiti dello IAS 39.<span class=\"_ _0\"></span>  A <span class=\"_ _22\"></span>seconda <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>volume, <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>strut<span class=\"_ _0\"></span>tura <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>rischio, <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>designa <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>strumenti finanziari derivati come coperture di flussi di cassa o<span class=\"_ _0\"></span> coperture di un investimento netto <span class=\"_ _0\"></span>estero.<span class=\"_ _0\"></span> Quando <span class=\"_ _2d\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2a\"> </span>finanziari <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>caratteristiche <span class=\"_ _2a\"> </span>richieste <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hed<span class=\"_ _0\"></span>ge <span class=\"_ _2d\"> </span>accou<span class=\"_ _0\"></span>nting</span>, <span class=\"_ _2d\"> </span>vengo<span class=\"_ _0\"></span>no applicati i seguenti trattamenti contabili:<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>Fair <span class=\"_ _49\"> </span>value <span class=\"_ _49\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _49\"> </span>se <span class=\"_ _49\"> </span>un<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>strumento <span class=\"_ _49\"> </span>finanziario <span class=\"_ _46\"> </span>derivato <span class=\"_ _49\"> </span>\u00e8 <span class=\"_ _49\"> </span>designato <span class=\"_ _49\"> </span>come <span class=\"_ _49\"> </span>copertura </span>dell'esposizione <span class=\"_ _23\"></span>alle <span class=\"_ _23\"></span>variazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un'attivit\u00e0 <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>attribuibile <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>un particolare <span class=\"_ _2c\"> </span>rischio<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>pu\u00f2 <span class=\"_ _2c\"> </span>in<span class=\"_ _0\"></span>fluire <span class=\"_ _2d\"> </span>sul <span class=\"_ _2c\"></span>conto <span class=\"_ _2d\"> </span>economico, <span class=\"_ _2c\"></span>l'utile <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"></span>la <span class=\"_ _2d\"> </span>perdita <span class=\"_ _2c\"></span>derivanti <span class=\"_ _2d\"> </span>dalle successive <span class=\"_ _2f\"> </span>variazioni <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span><span class=\"ff5a\">fair <span class=\"_ _41\"> </span>value</span> <span class=\"_ _2f\"> </span>dello <span class=\"_ _41\"> </span>strumento <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>copertura <span class=\"_ _41\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>con<span class=\"_ _0\"></span>to economico. <span class=\"_ _28\"></span>L'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>elemento <span class=\"_ _28\"></span>coperto, <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _28\"></span>attribuibile <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>cop<span class=\"_ _0\"></span>erto, modificano il valore contabile di tale elemento e <span class=\"_ _0\"></span>sono rilevati a conto<span class=\"_ _0\"></span> economico; \u25aa <span class=\"_ _30\"> </span>Cash <span class=\"_ _2d\"> </span>flow <span class=\"_ _2a\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _2d\"> </span>se <span class=\"_ _2a\"> </span>uno <span class=\"_ _2d\"> </span>strumento <span class=\"_ _2a\"> </span>finanziario <span class=\"_ _2d\"> </span>derivato <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>designato <span class=\"_ _2d\"> </span>come <span class=\"_ _2a\"> </span>copertura <span class=\"_ _2d\"> </span>delle </span>variazioni <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _23\"></span>futuri <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un'attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>un'o<span class=\"_ _0\"></span>perazione <span class=\"_ _23\"></span>attesa altamente probabile e che potrebbe produrre effetti sul conto economico, la parte eff<span class=\"_ _0\"></span>icace degli utili <span class=\"_\"> </span>o <span class=\"_\"> </span>delle <span class=\"_\"> </span>perdite <span class=\"_\"> </span>dello <span class=\"_\"> </span>strumento <span class=\"_\"> </span>finanziario <span class=\"_\"> </span>(variazione <span class=\"_\"> </span>del <span class=\"_ _8b\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span>) <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>rilevata <span class=\"_\"> </span>nel patrimonio <span class=\"_ _3c\"> </span>netto. <span class=\"_ _3c\"> </span>L'utile <span class=\"_ _41\"> </span>o <span class=\"_ _3c\"> </span>la <span class=\"_ _3c\"> </span>perdita <span class=\"_ _3c\"> </span>accumulati <span class=\"_ _3c\"> </span>sono <span class=\"_ _3c\"> </span>stornati <span class=\"_ _3c\"> </span>dal <span class=\"_ _41\"> </span>patri<span class=\"_ _0\"></span>monio <span class=\"_ _3c\"> </span>netto <span class=\"_ _3c\"> </span>e contabilizzati a conto <span class=\"_ _0\"></span>economico nello s<span class=\"_ _0\"></span>tesso periodo in<span class=\"_ _0\"></span> cui si <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>verificata l'operazion<span class=\"_ _0\"></span>e oggetto di copertura. La <span class=\"_ _23\"></span>relazione <span class=\"_ _22\"></span>tra <span class=\"_ _23\"></span>l'elemento <span class=\"_ _23\"></span>coperto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>lo <span class=\"_ _23\"></span>strumento <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _23\"></span>compresi <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>obiettivi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>gestione <span class=\"_ _23\"></span>del rischio <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>strategia <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>intraprendere <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>perazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>documentati <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>pertura.<span class=\"_ _0\"></span> Inoltre, <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>un'operazione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>corso <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>sua <span class=\"_ _23\"></span>durata, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>verifi<span class=\"_ _0\"></span>ca <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>documenta regolarmente <span class=\"_ _23\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>altament<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>efficace <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>termini <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>compensazione <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>variazioni <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> cassa <span class=\"_ _2d\"> </span>dell'elemento <span class=\"_ _2a\"> </span>coperto <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>dell'investimento <span class=\"_ _2d\"> </span>netto. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2d\"> </span>info<span class=\"_ _0\"></span>rmazioni <span class=\"_ _2d\"> </span>sui <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>qu<span class=\"_ _0\"></span>esti <span class=\"_ _2d\"> </span>strumenti<span class=\"_ _0\"></span> finanziari <span class=\"_ _2e\"> </span>derivati <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>fornite <span class=\"_ _2e\"> </span><span class=\"ff5d\">nella <span class=\"_ _2f\"> </span>Sezione <span class=\"_ _2e\"> </span>\u201cAltre <span class=\"_ _2f\"> </span>informazioni\u201d</span>; <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2f\"> </span>della <span class=\"_ _2e\"> </span>riserva <span class=\"_ _2f\"> </span>per <span class=\"_ _2e\"> </span>gli adeguamenti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _28\"></span>all'interno <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>altre <span class=\"_ _28\"></span>componenti <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>economico complessivo possono essere ricavate dal prospetto <span class=\"_ _0\"></span>delle variazioni del patrimonio netto.<span class=\"_ _0\"></span> La <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>efficace <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>variazione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>derivati <span class=\"_ _2d\"> </span>designati <span class=\"_ _2d\"> </span>come copertura <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _28\"></span>investimenti <span class=\"_ _23\"></span>netti <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto; <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>parte <span class=\"_ _23\"></span>inefficace <span class=\"_ _28\"></span>\u00e8 rilevata <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>nel conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Gli importi <span class=\"_ _2b\"></span>rilevati nel <span class=\"_ _2b\"></span>patrimonio netto <span class=\"_ _2b\"></span>sono riclassificati <span class=\"_ _2b\"></span>nell'utile o nella perd<span class=\"_ _0\"></span>ita nel<span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> in <span class=\"_ _0\"></span>cui l'elemento cop<span class=\"_ _0\"></span>erto \u00e8 <span class=\"_ _0\"></span>rilevato nel <span class=\"_ _0\"></span>reddito. Le <span class=\"_ _0\"></span>variazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>degli investimenti netti di copertura sono compensate con le v<span class=\"_ _0\"></span>ariazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> degli strumenti di copertu<span class=\"_ _0\"></span>ra. La <span class=\"_ _28\"></span>contabilizzazione <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura <span class=\"_ _28\"></span>viene <span class=\"_ _23\"></span>interrotta <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>lo <span class=\"_ _28\"></span>strumento<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura scade <span class=\"_ _2b\"></span>o viene <span class=\"_ _2b\"></span>venduto, <span class=\"_ _2b\"></span>terminato o <span class=\"_ _2b\"></span>esercitato, <span class=\"_ _2b\"></span>o non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>pi\u00f9 ritenuto <span class=\"_ _2b\"></span>efficace. <span class=\"_ _2b\"></span>Qualsiasi utile <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>perdita cumulativa differita <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quel <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>rimane <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevata <span class=\"_ _2b\"></span>quando <span class=\"_ _2b\"></span>l'operazione prevista viene infine registrata nel <span class=\"_ _0\"></span>conto economico. Quando<span class=\"_ _0\"></span> non si prevede pi\u00f9 che un'op<span class=\"_ _0\"></span>erazione prevista si verifichi, <span class=\"_ _28\"></span>l'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>cumulativi <span class=\"_ _2c\"></span>differiti <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>vengono <span class=\"_ _28\"></span>immediatamente <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>ne<span class=\"_ _0\"></span>l conto economico. Gli strumenti finanziari <span class=\"_ _2b\"></span>der<span class=\"_ _0\"></span>ivati designati per <span class=\"_ _29\"></span>le operazioni <span class=\"_ _29\"></span>di copertura <span class=\"_ _29\"></span>sono classificati <span class=\"_ _29\"></span>come attivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>correnti <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>durata <span class=\"_ _22\"></span>residua <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>supera <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>dod<span class=\"_ _0\"></span>ici <span class=\"_ _0\"></span>mesi, <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o passivit\u00e0 correnti, o se la durata residua della relazione d<span class=\"_ _0\"></span>i copertura \u00e8 in<span class=\"_ _0\"></span>feriore a dodici mesi. 2.7.7.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Rimanenze  </span></span>Le <span class=\"_ _23\"></span>rimanenze <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>iscritte <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>minore <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisto <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>produzione, <span class=\"_ _23\"></span>determinato <span class=\"_ _23\"></span>secondo <span class=\"_ _23\"></span>il metodo del costo medio ponderato, ed il valore d<span class=\"_ _0\"></span>i presunto realizzo.<span class=\"_ _0\"></span> Le \u201cRimanenze\u201d <span class=\"_ _0\"></span>sono valutate <span class=\"_ _0\"></span>al minore<span class=\"_ _0\"></span> tra <span class=\"_ _0\"></span><span class=\"ff56\">il <span class=\"_ _0\"></span>costo secondo<span class=\"_ _0\"></span> il <span class=\"_ _0\"></span>principio \"<span class=\"_ _0\"></span><span class=\"ff5a\">First in <span class=\"_ _0\"></span>First out<span class=\"_ _0\"></span></span>\" (FiFo) <span class=\"_ _0\"></span>e il </span>valore netto<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>realizzo. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>realizzo <span class=\"_ _0\"></span>\u00e8 il <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita <span class=\"_ _0\"></span>stimato, <span class=\"_ _0\"></span>ovvero <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>quanto <span class=\"_ _0\"></span>riguarda <span class=\"_ _0\"></span>i prodotti <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>ram<span class=\"_ _29\"></span>e <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>prezzo <span class=\"_ _2a\"> </span>ufficiale <span class=\"_\"> </span>registrato <span class=\"_ _2a\"> </span>sul <span class=\"_ _2a\"> </span>mercato <span class=\"_ _2a\"> </span>LME <span class=\"_ _2a\"> </span>(<span class=\"ff5a\">London <span class=\"_\"> </span>Metal <span class=\"_ _2a\"> </span>Exchange</span>) <span class=\"_\"> </span>alla <span class=\"_ _2a\"> </span>data <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span> riferimento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>bilancio, <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>netto <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>costi <span class=\"_ _28\"></span>stimati <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>completamen<span class=\"_ _0\"></span>to <span class=\"_ _28\"></span>nonch\u00e9 <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>stimati <span class=\"_ _28\"></span>necessari <span class=\"_ _28\"></span>per realizzare la <span class=\"_ _29\"></span>vendita. Oltre <span class=\"_ _29\"></span>ai costi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>rettamente attribuibili sono <span class=\"_ _29\"></span>riflessi <span class=\"_ _29\"></span>nei costi <span class=\"_ _29\"></span>di produzione <span class=\"_ _29\"></span>i <span class=\"_ _29\"></span>costi generali di <span class=\"_ _23\"></span>produzione, <span class=\"_ _23\"></span>compresi <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>ammorta<span class=\"_ _0\"></span>menti <span class=\"_ _23\"></span>legati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>oduzione; <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>generalmente <span class=\"_ _23\"></span>assegnati <span class=\"_ _23\"></span>sulla base <span class=\"_ _28\"></span>del <span class=\"_ _2c\"> </span>met<span class=\"_ _0\"></span>odo <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>media <span class=\"_ _2c\"></span>mobile <span class=\"_ _2c\"></span>mensile; <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>alcuni <span class=\"_ _2c\"></span>casi <span class=\"_ _28\"></span>viene <span class=\"_ _2c\"></span>applicato <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>metodo <span class=\"_ _2c\"> </span>dell'identificazion<span class=\"_ _0\"></span>e specifica.  I lavori in <span class=\"_ _29\"></span>corso su <span class=\"_ _29\"></span>ordinazione sono valutati in <span class=\"_ _29\"></span>base allo stato <span class=\"_ _29\"></span>di avanzamento <span class=\"_ _29\"></span>dei lavori e <span class=\"_ _29\"></span>al prezzo <span class=\"_ _29\"></span>del corrispettivo contrattuale al netto dei costi contrattuali.<span class=\"_ _0\"></span> Le forniture e i materiali di consumo sono <span class=\"_ _0\"></span>valutati al costo medio ponderato.<span class=\"_ _0\"></span> 2.7.8.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Crediti e debiti </span></span>I <span class=\"_ _22\"></span>crediti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>debiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>normalmente <span class=\"_ _22\"></span>coincide <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>nominale <span class=\"_ _22\"></span>quando l\u2019effetto dell\u2019attualizzazione risulta irrilevante.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>I crediti commerciali sono rilevati inizialmente quan<span class=\"_ _0\"></span>do vengono originati. <span class=\"_ _0\"></span> Un credito <span class=\"_ _2b\"></span>commercial<span class=\"_ _0\"></span>e senza <span class=\"_ _2b\"></span>una significativa componente di <span class=\"_ _2b\"></span>fin<span class=\"_ _0\"></span>anziamento <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>inizialmente valutato <span class=\"_ _29\"></span>al prezzo della transazione.  Gli <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>perdite <span class=\"_ _23\"></span>su <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>sempre <span class=\"_ _28\"></span>valutati <span class=\"_ _23\"></span>per <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>impo<span class=\"_ _0\"></span>rto <span class=\"_ _23\"></span>pari <span class=\"_ _28\"></span>alle perdite di valore a vita sulla base dell'approccio semp<span class=\"_ _0\"></span>lificato secondo l'IFRS 9<span class=\"_ _0\"></span>. Eventuali <span class=\"_ _0\"></span>cessioni <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span>propri <span class=\"_ _0\"></span>crediti <span class=\"_ _0\"></span>commerciali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>factoring <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _0\"></span>essere <span class=\"_ _0\"></span>prosolu<span class=\"_ _0\"></span>to <span class=\"_ _0\"></span>o prosolvendo. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>og<span class=\"_ _0\"></span>getto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>cessione <span class=\"_ _28\"></span>pro <span class=\"_ _23\"></span>soluto <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>cancellati <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>bilancio, <span class=\"_ _23\"></span>poich\u00e9 <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>stati trasferiti <span class=\"_ _29\"></span>sostanzialmente tutti <span class=\"_ _2b\"></span>i rischi <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>i benefici <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>propriet\u00e0. <span class=\"_ _29\"></span>Le <span class=\"_ _29\"></span>spese <span class=\"_ _2b\"></span>di factoring per <span class=\"_ _2b\"></span>le cessioni <span class=\"_ _2b\"></span>di crediti pro <span class=\"_ _2b\"></span>soluto <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>riportate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _2b\"></span>\"Altri <span class=\"_ _29\"></span>costi <span class=\"_ _2b\"></span>operativi\". <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>ceduti <span class=\"_ _29\"></span>pro <span class=\"_ _2b\"></span>solvendo, <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>Gruppo <span class=\"_ _2b\"></span>mantiene sostanzialmente tutti<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>rischi e <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>benefici <span class=\"_ _2b\"></span>della propriet\u00e0. <span class=\"_ _2b\"></span>Questi crediti <span class=\"_ _2b\"></span>rimangono nella <span class=\"_ _2b\"></span>situazione patrimoniale del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>vengono <span class=\"_ _22\"></span>cancellati, <span class=\"_ _23\"></span>anche <span class=\"_ _22\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>passata <span class=\"_ _22\"></span>legal<span class=\"_ _0\"></span>mente. <span class=\"_ _23\"></span>Viene <span class=\"_ _22\"></span>inoltre <span class=\"_ _23\"></span>rilevata <span class=\"_ _22\"></span>u<span class=\"_ _0\"></span>na passivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>pari <span class=\"_ _22\"></span>importo. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>factoring <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>ceduti <span class=\"_ _0\"></span>pro <span class=\"_ _22\"></span>solven<span class=\"_ _22\"></span>do <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>riportate <span class=\"_ _0\"></span>tra gli oneri finanziari.  2.7.9.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Disponibilit\u00e0 liquide e mezzi equivalenti<span class=\"_ _0\"></span> </span></span>Comprendono <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>depositi <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>vista <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>investimenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>alta <span class=\"_ _22\"></span>liquidit\u00e0 che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ontamente <span class=\"_ _29\"></span>convertibili <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammontare <span class=\"_ _2b\"></span>noto di <span class=\"_ _2b\"></span>denaro<span class=\"_ _0\"></span> e <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>soggetti ad <span class=\"_ _2b\"></span>un rischio <span class=\"_ _2b\"></span>irrilevante di variazione di valore (IAS 7 paragrafo <span class=\"_ _0\"></span>7). 2.7.10.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Attivit\u00e0 e Passivit\u00e0 possedute p<span class=\"_ _0\"></span>er la vendita e attivit\u00e0 operative cessate (IFRS 5)<span class=\"_ _0\"></span> Le <span class=\"_ _23\"></span>Attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>Passivit\u00e0 <span class=\"_ _23\"></span>destin<span class=\"_ _0\"></span>ate <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>ven<span class=\"_ _0\"></span>dita <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>Attivit\u00e0 <span class=\"_ _23\"></span>operative <span class=\"_ _23\"></span>cessate <span class=\"_ _23\"></span>(<span class=\"ff5a\">Discontinued <span class=\"_ _23\"></span>Operation</span>) sono <span class=\"_ _2c\"></span>classificate <span class=\"_ _28\"></span>come <span class=\"_ _2c\"></span>tali <span class=\"_ _2c\"></span>se <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>loro<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>va<span class=\"_ _0\"></span>lore <span class=\"_ _28\"></span>con<span class=\"_ _0\"></span>tabile <span class=\"_ _28\"></span>sar\u00e0 <span class=\"_ _2c\"></span>recuperato <span class=\"_ _2c\"></span>principalmente <span class=\"_ _2c\"></span>attraverso <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>vendita piuttosto che attraverso l\u2019utilizzo continuativo.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Le attivit\u00e0 non <span class=\"_ _29\"></span>correnti o i <span class=\"_ _29\"></span>gruppi di tali <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 che vengono dismessi in <span class=\"_ _29\"></span>un'unica operazione (gruppi <span class=\"_ _29\"></span>in dismissione), comprese le passivit\u00e0 associate, sono classificate come possedute per la v<span class=\"_ _0\"></span>endita se il loro valore contabile <span class=\"_ _2c\"></span>sar\u00e0 <span class=\"_ _2c\"> </span>recuperato <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2c\"></span>attraverso <span class=\"_ _2c\"></span>un'operazione <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>vendita <span class=\"_ _2c\"> </span>piutto<span class=\"_ _0\"></span>sto <span class=\"_ _2c\"></span>che <span class=\"_ _2c\"></span>attravers<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>l'uso continuativo. Questa condizione \u00e8 soddisfatta solo quando <span class=\"_ _0\"></span>la dismissione \u00e8 altamente probabile e l'attivit\u00e0 o il gruppo in dismissione \u00e8 disponibile per la vendita immediata nelle<span class=\"_ _0\"></span> sue condizioni attuali.<span class=\"_ _0\"></span> L\u2019operazione di<span class=\"_ _0\"></span> vendi<span class=\"_ _0\"></span>ta deve <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>altamente probabile, <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>realizzazione <span class=\"_ _0\"></span>prevista <span class=\"_ _0\"></span>all\u2019interno <span class=\"_ _0\"></span>dei dodici <span class=\"_ _22\"></span>mesi. <span class=\"_ _22\"></span>Se <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>vendita <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>prevista <span class=\"_ _22\"></span>concludersi <span class=\"_ _22\"></span>dopo <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>anno, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutati <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendita <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>loro valore attuale<span class=\"_ _0\"></span>. Qualsiasi <span class=\"_ _0\"></span>increment<span class=\"_ _0\"></span>o nel <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di ven<span class=\"_ _0\"></span>dita<span class=\"_ _0\"></span> deriv<span class=\"_ _0\"></span>ante dal <span class=\"_ _0\"></span>trascorrere <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>tempo \u00e8 rilevata come componente finanziaria nel con<span class=\"_ _0\"></span>to economico.  Le attivit\u00e0 e le passivit\u00e0 del gruppo in dismissione sono esposte separatamente nello stato patrimoniale nelle <span class=\"_ _2b\"></span>voci <span class=\"ff5d\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>correnti <span class=\"_ _29\"></span>detenute <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>la vendita\u201d <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>\u201cPassivit\u00e0 direttamente <span class=\"_ _2b\"></span>collegate <span class=\"_ _2b\"></span>ad <span class=\"_ _29\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>detenute </span>per la vendita\u201d<span class=\"ff56\">. </span>In <span class=\"_ _29\"></span>caso <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>societ\u00e0 <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>trollate <span class=\"_ _29\"></span>con <span class=\"_ _29\"></span>l'unica <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span>tenzione di <span class=\"_ _2b\"></span>rivenderle, le <span class=\"_ _2b\"></span>attivit\u00e0 e <span class=\"_ _2b\"></span>le passivit\u00e0 sono <span class=\"_ _2a\"> </span>state <span class=\"_ _2a\"> </span>pertanto <span class=\"_ _2d\"> </span>indi<span class=\"_ _0\"></span>cate <span class=\"_ _2a\"> </span>come <span class=\"_ _2d\"> </span>detenute <span class=\"_\"> </span>per <span class=\"_ _2d\"> </span>la <span class=\"_\"> </span>vendita <span class=\"_ _2d\"> </span>nello <span class=\"_\"> </span>stato <span class=\"_ _2a\"> </span>patrimoniale <span class=\"_ _2d\"> </span>con<span class=\"_ _0\"></span>solidato. <span class=\"_ _2a\"> </span>Il <span class=\"_ _2a\"> </span>conto economico \u00e8 riepilogato nel risultato delle attivit\u00e0 operative cessate <span class=\"_ _0\"></span>del conto economico consolidato.<span class=\"_ _0\"></span> Le riclassificazioni delle attivit\u00e0 immateriali e degli immobili, impianti e macchinari sono riportate alla voc<span class=\"ls0\">e <span class=\"_ _28\"></span>trasferimenti <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>ris<span class=\"_ _0\"></span>pettivo <span class=\"_ _28\"></span>sviluppo <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo. <span class=\"_ _28\"></span>Le <span class=\"_ _2c\"></span>spese <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>ven<span class=\"_ _0\"></span>dite <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>in </span>dismissione <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>incluse <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>risultato <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>esercizio <span class=\"_ _23\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>momento <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>vendita. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>gruppo <span class=\"_ _23\"></span>in dismissione comprende anche <span class=\"_ _2b\"></span>l'avv<span class=\"_ _0\"></span>iamento acquisito in <span class=\"_ _29\"></span>un'aggregazione aziendale <span class=\"_ _29\"></span>se il <span class=\"_ _2b\"></span>grup<span class=\"_ _0\"></span>po in <span class=\"_ _29\"></span>dismissione rappresenta <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span>'unit\u00e0 <span class=\"_ _23\"></span>gen<span class=\"_ _0\"></span>eratrice <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>l'avviamento <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _28\"></span>allocato <span class=\"_ _23\"></span>ad <span class=\"_ _28\"></span>essa. <span class=\"_ _28\"></span>Se <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>in dismissione <span class=\"_\"> </span>rappresenta <span class=\"_\"> </span>solo <span class=\"_ _2a\"> </span>una <span class=\"_\"> </span>parte <span class=\"_ _2a\"> </span>dell'unit\u00e0 <span class=\"_\"> </span>generatrice <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>flussi <span class=\"_\"> </span>finanziari, <span class=\"_\"> </span>gli <span class=\"_\"> </span>viene <span class=\"_\"> </span>attribuito <span class=\"_ _2a\"> </span>un avviamento proporzionale e viene registrato come \"Attiv<span class=\"_ _0\"></span>it\u00e0 destinate alla vendita\".<span class=\"_ _0\"></span> Gli <span class=\"_ _2c\"></span>ammortamenti <span class=\"_ _2c\"></span>programmati <span class=\"_ _2c\"></span>non <span class=\"_ _2c\"></span>vengono <span class=\"_ _2c\"></span>pi\u00f9 <span class=\"_ _2c\"></span>rilevati <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>destinate <span class=\"_ _2c\"></span>alla <span class=\"_ _2c\"></span>vendita. <span class=\"_ _2c\"></span>Esse vengono iscritte al minore tra il valore c<span class=\"_ _0\"></span>ontabile e il fair value al netto dei <span class=\"_ _0\"></span>costi di vendita. 2.7.11.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Patrimonio netto Il <span class=\"_ _29\"></span>capitale <span class=\"_ _29\"></span>sociale <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>costituito da <span class=\"_ _2b\"></span>azioni ordinarie <span class=\"_ _2b\"></span>e da <span class=\"_ _2b\"></span>azion<span class=\"_ _0\"></span>i <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>risparmio, <span class=\"_ _29\"></span>tutte <span class=\"_ _29\"></span>prive <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _29\"></span>nominale, sottoscritte e versate alla data di riferimento del presente bilancio, ridotto eventualmente dei crediti verso soci per decimi ancora da versare. <span class=\"_ _0\"></span> Gli altri <span class=\"_ _0\"></span>utili <span class=\"ff5d\">o <span class=\"_ _0\"></span>perdite <span class=\"_ _0\"></span>iscritti a <span class=\"_ _0\"></span>conto econo<span class=\"_ _0\"></span>mico complessivo <span class=\"_ _0\"></span>(\u201cOCI\u201d)</span> <span class=\"_ _0\"></span>comprendon<span class=\"_ _0\"></span>o gli <span class=\"_ _0\"></span>aggiustamenti di conversione <span class=\"_ _0\"></span>delle valute<span class=\"_ _0\"></span> estere <span class=\"_ _0\"></span>derivanti dalla <span class=\"_ _0\"></span>conversione <span class=\"_ _0\"></span>dei bi<span class=\"_ _0\"></span>lanci del<span class=\"_ _22\"></span>le controllate <span class=\"_ _0\"></span>estere, le <span class=\"_ _0\"></span>variazioni<span class=\"_ _0\"></span> del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>delle <span class=\"_\"> </span>coperture <span class=\"_ _2a\"> </span>dei <span class=\"_\"> </span>flussi <span class=\"_\"> </span>di <span class=\"_\"> </span>cassa <span class=\"_\"> </span>e <span class=\"_ _2a\"> </span>la <span class=\"_\"> </span>rivalutazione <span class=\"_\"> </span>delle <span class=\"_ _2a\"> </span>immobilizzazioni <span class=\"_\"> </span>prima <span class=\"_\"> </span>della riclassificazione <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>investimento <span class=\"_ _2d\"> </span>immobiliare. <span class=\"_ _2d\"> </span>Sono <span class=\"_ _2d\"> </span>inoltre <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>ncluse <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"> </span>ut<span class=\"_ _0\"></span>ili <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>perdite attuariali degli impegni pensionistici secon<span class=\"_ _0\"></span>do lo IAS 19, al netto delle imposte differite.<span class=\"_ _0\"></span> Le partecipazioni di minoranza rappresentano gli interessi di terzi nelle co<span class=\"_ _0\"></span>ntrollate consolidate.<span class=\"_ _0\"></span> 2.7.11.1.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Azioni proprie (IAS 32) </span></span>Il <span class=\"_ _2c\"></span>valore <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2c\"></span>proprie, <span class=\"_ _2c\"> </span>secondo<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>quanto<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>evisto <span class=\"_ _2c\"></span>dallo <span class=\"_ _2c\"> </span>IAS <span class=\"_ _2d\"> </span>32, <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2c\"></span>esposto <span class=\"_ _2d\"> </span>in <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span>minuzione <span class=\"_ _2c\"></span>del capitale <span class=\"_ _22\"></span>emesso. <span class=\"_ _22\"></span>Tale <span class=\"_ _22\"></span>rappresentazione <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>per\u00f2 <span class=\"_ _22\"></span>unicamente <span class=\"_ _22\"></span>n<span class=\"_ _0\"></span>elle <span class=\"_ _22\"></span>note <span class=\"_ _22\"></span>esplicative, <span class=\"_ _22\"></span>mentre <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ospetti <span class=\"_ _22\"></span>il costo <span class=\"_ _2b\"></span>stori<span class=\"_ _0\"></span>co <span class=\"_ _2b\"></span>delle azioni <span class=\"_ _2b\"></span>proprie <span class=\"_ _2b\"></span>possedute figura <span class=\"_ _2b\"></span>distintamente <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>segno <span class=\"_ _2b\"></span>negativo a<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>riduzi<span class=\"_ _0\"></span>one del <span class=\"_ _2b\"></span>patrimonio netto. I costi per operazioni sul patrimonio netto <span class=\"_ _0\"></span>sono imputati direttamente a riduzione delle riserve.<span class=\"_ _0\"></span> <span class=\"_ _0\"></span> 2.7.11.2.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Accordi di pagamento basati su propri strumenti p<span class=\"_ _0\"></span>atrimoniali (IFRS 2)<span class=\"_ _0\"></span> </span></span>Nell\u2019ambito <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>piani <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>incentivazione <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>medio<span class=\"ff56\">-lung<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>previsti <span class=\"_ _23\"></span>accordi <span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>favore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>parte </span>del <span class=\"_ _2b\"></span>management, con <span class=\"_ _2b\"></span>pagamenti <span class=\"_ _2b\"></span>basati <span class=\"_ _29\"></span>su <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>rappresentative <span class=\"_ _2b\"></span>del capitale, <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>consistono <span class=\"_ _29\"></span>nell\u2019assegnazione di diritti<span class=\"_ _0\"></span> che <span class=\"_ _0\"></span>attribuiscono <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>beneficiari, <span class=\"_ _0\"></span>subordinatamente <span class=\"_ _0\"></span>all\u2019avverarsi <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>stabilite, <span class=\"_ _0\"></span>i<span class=\"_ _0\"></span><span class=\"ff56\">l <span class=\"_ _0\"></span>diritto <span class=\"_ _0\"></span>di </span>ottenere al termine dell\u2019ultimo anno di<span class=\"_ _0\"></span> vesting, l\u2019equivalente monetario o in azioni della Societ\u00e0.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>2.7.12.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Imposte correnti e differite<span class=\"_ _0\"></span> L'onere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>dell\u2019esercizio <span class=\"_ _22\"></span>comprende <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>nere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>corrente <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>l'onere <span class=\"_ _23\"></span>fiscale <span class=\"_ _22\"></span>differito. <span class=\"_ _23\"></span>Le <span class=\"_ _0\"></span>impo<span class=\"_ _0\"></span>ste sul <span class=\"_ _2e\"> </span>reddito <span class=\"_ _2e\"> </span>sono <span class=\"_ _2e\"> </span>rilevate <span class=\"_ _2e\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _2e\"> </span>economico, <span class=\"_ _2e\"> </span>fatta <span class=\"_ _2e\"> </span>eccezione <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>quelle <span class=\"_ _2e\"> </span>relative <span class=\"_ _2f\"> </span>a <span class=\"_ _8b\"> </span>operazioni <span class=\"_ _2e\"> </span>rilevate direttamente nel patrimonio netto che sono con<span class=\"_ _0\"></span>tabilizzate nello stesso.<span class=\"_ _0\"></span><span class=\"ff57\"> </span>L\u2019onere fiscale corrente rapp<span class=\"_ _0\"></span>resenta la stima dell'importo d<span class=\"_ _0\"></span>elle imposte sul reddito <span class=\"_ _0\"></span>dovu<span class=\"_ _0\"></span><span class=\"ff56\">te calcolate sul </span>reddito <span class=\"_ _22\"></span>imponibile <span class=\"_ _22\"></span>dell\u2019esercizio, <span class=\"_ _23\"></span>determinato <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>aliquote <span class=\"_ _23\"></span>fiscali <span class=\"_ _0\"></span>vigenti <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>quelle <span class=\"_ _22\"></span>sostanzialmente in <span class=\"_ _2f\"> </span>vigore <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>chiusura <span class=\"_ _2f\"> </span>dell\u2019esercizio. <span class=\"_ _2f\"> </span>Le <span class=\"_ _2e\"> </span>impo<span class=\"_ _0\"></span>ste <span class=\"_ _2f\"> </span>differite <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>stanziate <span class=\"_ _2f\"> </span>secondo <span class=\"_ _2f\"> </span>il <span class=\"_ _2f\"> </span>metodo patrimoniale, calcolando le differenze temporanee tra i valori contabili delle <span class=\"_ _29\"></span>attivit\u00e0 e delle pas<span class=\"_ _29\"></span>sivit\u00e0 iscritti in bilancio <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>corrispondenti <span class=\"_ _28\"></span>valori <span class=\"_ _28\"></span>riconosciuti <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _28\"></span>fiscali. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>stanziate <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le seguenti <span class=\"_ _49\"> </span>differenze <span class=\"_ _46\"> </span>temporanee: <span class=\"_ _49\"> </span>rilevazione <span class=\"_ _46\"> </span>iniziale <span class=\"_ _46\"> </span>di <span class=\"_ _49\"> </span>attivit\u00e0 <span class=\"_ _46\"> </span>o <span class=\"_ _49\"> </span>passivit\u00e0 <span class=\"_ _46\"> </span>in <span class=\"_ _49\"> </span>un'operazione <span class=\"_ _46\"> </span>diversa dall'aggregazione aziendale che <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n influenzi <span class=\"_ _29\"></span>n\u00e9 l'utile <span class=\"_ _29\"></span>(o perdita) <span class=\"_ _29\"></span>contabile n\u00e9 <span class=\"_ _29\"></span>il reddito <span class=\"_ _29\"></span>imponibile (o <span class=\"_ _29\"></span>perdita fiscale), <span class=\"_ _23\"></span>nonch\u00e9 <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>differenze <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>investimenti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto <span class=\"_ _23\"></span>nella misura in cui \u00e8 probabile che, nel presumibile fu<span class=\"_ _0\"></span>turo, la differenza temporanea non<span class=\"_ _0\"></span> si riverser\u00e0. <span class=\"_ _0\"></span> Le attivit\u00e0 e le passivit\u00e0 per imposte differite sono valutate utilizzando le aliquote fiscali che si prevede saranno <span class=\"_ _22\"></span>applicabili <span class=\"_ _22\"></span>nell'esercizio <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>sar\u00e0 <span class=\"_ _0\"></span>realizzata<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>l'attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>sar\u00e0 <span class=\"_ _22\"></span>estinta <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>riferiscon<span class=\"_ _0\"></span>o, sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>aliquote <span class=\"_ _22\"></span>fiscali <span class=\"_ _23\"></span>stabilite <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>provvedimenti <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>sostanzialmente <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di chiusura <span class=\"_ _29\"></span>dell\u2019esercizio. <span class=\"_ _29\"></span>Le <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0<span class=\"ff56\"> <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i<span class=\"_ _0\"></span>mposte <span class=\"_ _29\"></span>differite <span class=\"_ _29\"></span>sono <span class=\"_ _29\"></span>compensate <span class=\"_ _2b\"></span>in presenza <span class=\"_ _2b\"></span>di un <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> </span>legalmente es<span class=\"_ _0\"></span>ercitabile di <span class=\"_ _0\"></span>compensare <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti con<span class=\"_ _0\"></span> le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti <span class=\"_ _0\"></span>e se <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 e le <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>per imposte <span class=\"_ _29\"></span>differite sono <span class=\"_ _29\"></span>relative <span class=\"_ _29\"></span>a imposte <span class=\"_ _2b\"></span>sul reddito applicate dalla <span class=\"_ _29\"></span>medesima autorit\u00e0 <span class=\"_ _29\"></span>fiscale sullo stesso soggetto <span class=\"_ _29\"></span>passivo d'imposta o <span class=\"_ _29\"></span>soggetti passivi d'imposta <span class=\"_ _29\"></span>diversi che intendono reg<span class=\"_ _29\"></span>olare le passivit\u00e0 e le attivit\u00e0 fiscali correnti su base netta, o<span class=\"_ _0\"></span> realizzare le attivit\u00e0 e regolare le passivit\u00e0 con<span class=\"_ _0\"></span>tempo<span class=\"_ _0\"></span>raneamente. <span class=\"ff57\"> </span>Le <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>imposte <span class=\"_ _2b\"></span>differite <span class=\"_ _3d\"></span>sono <span class=\"_ _2b\"></span>rilevate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>misura <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>probabile <span class=\"_ _2b\"></span>che <span class=\"_ _3d\"></span>sia <span class=\"_ _2b\"></span>disponibile <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>reddito imponibile <span class=\"_ _28\"></span>futuro <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>fronte <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>stesse <span class=\"_ _28\"></span>possano <span class=\"_ _28\"></span>essere <span class=\"_ _28\"></span>utilizzate. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>imposte<span class=\"_ _0\"></span> differite <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rivisto <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _23\"></span>nella <span class=\"_ _22\"></span>misura <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _23\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>il relativo beneficio fiscale sia realizzabile.<span class=\"_ _0\"></span> 2.7.13.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Benefici ai dipendenti<span class=\"_ _0\"></span> I <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>successivi <span class=\"_ _23\"></span>al <span class=\"_ _0\"></span>rap<span class=\"_ _0\"></span>porto <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>lavo<span class=\"_ _0\"></span>ro <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>definiti <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>programmi <span class=\"_ _0\"></span>che <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>fu<span class=\"_ _0\"></span>nzio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>delle loro caratteristiche sono distinti in programmi a \u201ccontribut<span class=\"_ _0\"></span>i definiti\u201d e programmi a \u201cbenefici definiti\u201d.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Nei programmi <span class=\"_ _0\"></span>a con<span class=\"_ _0\"></span>tributi definiti <span class=\"_ _0\"></span>l\u2019obbligazione <span class=\"_ _0\"></span>dell\u2019impresa, limitata <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>versamento dei <span class=\"_ _0\"></span>contrib<span class=\"_ _0\"></span>uti a un\u2019entit\u00e0 giuridicamente distinta, <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 costituita dai contributi dovuti alla data di riferimento<span class=\"_ _0\"></span> del bilancio. <span class=\"_ _0\"></span> </span>La <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2c\"> </span>relativa <span class=\"_ _2d\"> </span>ai <span class=\"_ _28\"></span>prog<span class=\"_ _0\"></span>rammi <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>benefici <span class=\"_ _2d\"> </span>definiti, <span class=\"_ _28\"></span>come <span class=\"_ _2d\"> </span>il <span class=\"_ _28\"></span>trattamento <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>fine <span class=\"_ _2d\"> </span>rapporto <span class=\"_ _28\"></span>definito dall\u2019art. <span class=\"_ _2b\"></span>2120 <span class=\"_ _2b\"></span>C.C., <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>eventuali <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>servizio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>piano, <span class=\"_ _2b\"></span>\u00e8<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>determinata, <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>supporto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>esperti<span class=\"_ _0\"></span> </span>indipendenti, <span class=\"_ _0\"></span>sulla <span class=\"_ _0\"></span>base di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>attuariali <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rilevata <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>competenza <span class=\"_ _0\"></span>coerentemente <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>periodo <span class=\"_ _0\"></span>lavorativo necessario all\u2019ottenimento dei benefici. Gli utili e le perdite attu<span class=\"_ _0\"></span>ariali relative ai programmi a bene<span class=\"_ _0\"></span><span class=\"ff56\">fici definiti </span>derivanti <span class=\"_ _0\"></span>da variazioni <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>ipotesi attuariali <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>modifiche delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>piani sono <span class=\"_ _0\"></span>immediatamente<span class=\"_ _0\"></span> rilevati tra le componenti di conto economico comples<span class=\"_ _0\"></span>sivo.  Gli <span class=\"_ _22\"></span>ob<span class=\"_ _0\"></span>blighi <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>dipendenti <span class=\"_ _22\"></span>dovu<span class=\"_ _0\"></span>ti <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _23\"></span>spesa non appena il servizio relativo \u00e8 stato reso. Una passivit\u00e0 deve esser<span class=\"_ _0\"></span>e registrata per il pagamento anticipato se<span class=\"_ _0\"></span> il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>attualmente <span class=\"_ _22\"></span>un'o<span class=\"_ _0\"></span>bbligazione <span class=\"_ _22\"></span>legale <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fatto <span class=\"_ _23\"></span>a <span class=\"_ _0\"></span>pagare <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>importo <span class=\"_ _0\"></span>sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>lavo<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>svolto dal dipendente, ed \u00e8 possibile stimare l'obb<span class=\"_ _0\"></span>ligazione in termini affidabili.<span class=\"_ _0\"></span> L'obbligazione netta da parte <span class=\"_ _29\"></span>del Gruppo, in considerazione dei <span class=\"_ _29\"></span>benefici per <span class=\"_ _29\"></span>i dipendenti dovuti <span class=\"_ _29\"></span>a lungo termine, \u00e8 <span class=\"_ _0\"></span>costituita <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>benefici futuri <span class=\"_ _0\"></span>dovuti <span class=\"_ _0\"></span>ai dipendenti <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cambio dei <span class=\"_ _0\"></span>servizi <span class=\"_ _0\"></span>resi nell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _0\"></span>corrente e negli <span class=\"_ _2b\"></span>esercizi precedenti. <span class=\"_ _2b\"></span>Tali <span class=\"_ _2b\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _2b\"></span>sono attualizzati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>determinare <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>attuale. <span class=\"_ _2b\"></span>Le rimodulazioni di tali obbligazioni sono rilevate nel conto economico dell'esercizio in<span class=\"_ _0\"></span> cui avvengono le<span class=\"_ _0\"></span> rimodulazio<span class=\"_ _0\"></span>ni. I <span class=\"_ _2c\"></span>benefici <span class=\"_ _2c\"></span>legati <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>cessazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>rapporto <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>lavoro <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"> </span>contabilizzati <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>spese <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span>primo <span class=\"_ _2c\"></span>dei seguenti momenti: quando il Gruppo non pu\u00f2 pi\u00f9 revocare l'offerta di fornire tali benefici o quando il Gruppo registra <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>misure <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>ristrutturazione. <span class=\"_ _23\"></span>Se <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>prevedi<span class=\"_ _0\"></span>bile <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>saranno <span class=\"_ _22\"></span>compen<span class=\"_ _0\"></span>sati entro dodici mesi dalla data di chiusura d<span class=\"_ _0\"></span>el bilancio, essi vengono attualizzati.<span class=\"_ _0\"></span> Gli <span class=\"_ _22\"></span>obbl<span class=\"_ _0\"></span>ighi <span class=\"_ _22\"></span>pensionistici <span class=\"_ _23\"></span>derivanti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>piani <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>definiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>determina<span class=\"_ _0\"></span>ti <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzan<span class=\"_ _0\"></span>do <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>metodo della <span class=\"_ _2c\"></span><span class=\"ff5d\">\u201c</span>proiezione <span class=\"_ _2c\"></span>unitaria <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>credito<span class=\"ff5d\">\u201d <span class=\"_ _28\"> </span>(IAS <span class=\"_ _2d\"> </span>19)</span>. <span class=\"_ _28\"></span>I <span class=\"_ _2c\"> </span>benefici <span class=\"_ _2d\"> </span>attesi, <span class=\"_ _28\"></span>comprese <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>componenti <span class=\"_ _28\"></span>dinamiche <span class=\"_ _2c\"> </span>(ad esempio, <span class=\"_ _2a\"> </span>gli <span class=\"_ _2d\"> </span>aumenti <span class=\"_ _2d\"> </span>salar<span class=\"_ _0\"></span>iali <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estazioni <span class=\"_ _2a\"> </span>pensionistiche), <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>rilevati <span class=\"_ _2d\"> </span>lungo <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>periodo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>servizio complessivo <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rispettivo <span class=\"_ _0\"></span>dipenden<span class=\"_ _0\"></span>te. <span class=\"_ _0\"></span>L'importo <span class=\"_ _0\"></span>viene attualizzato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>esso <span class=\"_ _0\"></span>viene dedot<span class=\"_ _0\"></span>to il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>delle attivit\u00e0 a servizio del piano. Si ricorre alla con<span class=\"_ _0\"></span>sulenza attuariale. <span class=\"_ _0\"></span> Gli <span class=\"_ _2a\"> </span>utili <span class=\"_ _2a\"> </span>o <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>attuariali <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da <span class=\"_ _2d\"> </span>scostamenti <span class=\"_\"> </span>tra <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>variazioni <span class=\"_ _2a\"> </span>previste <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>realizzate <span class=\"_\"> </span>dei beneficiari del piano <span class=\"_ _29\"></span>e delle <span class=\"_ _29\"></span>ipotesi attuariali sono iscritti <span class=\"_ _29\"></span>a conto economico <span class=\"_ _29\"></span>complessivo nel periodo in <span class=\"_ _29\"></span>cui si verificano e sono indicati separatamente nel pr<span class=\"_ _0\"></span>ospetto del conto economico complessivo. <span class=\"_ _0\"></span> I <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>servizio <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>contabilizzati <span class=\"_ _0\"></span>nei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _0\"></span>person<span class=\"_ _0\"></span>ale. Anch<span class=\"_ _0\"></span>e gl<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>interessi <span class=\"_ _0\"></span>passivi <span class=\"_ _0\"></span>derivanti <span class=\"_ _0\"></span>dalla capitalizzazione <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"></span>obblighi <span class=\"_ _2c\"> </span>pensionistici <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"> </span>proventi <span class=\"_ _2d\"> </span>derivanti <span class=\"_ _2c\"></span>dalle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>servizio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>piano <span class=\"_ _2d\"> </span>sono registrati tra le spese per il personale, ut<span class=\"_ _0\"></span>ilizzando il tasso di sconto dell'obbligazio<span class=\"_ _0\"></span>ne a benefici defini<span class=\"_ _0\"></span>ti. L'eventuale <span class=\"_ _23\"></span>eccedenza <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _23\"></span>rispetto <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>rilevare <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>limitata <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>perdite <span class=\"_ _28\"></span>attuariali nette cumulate <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>contabilizzate e al <span class=\"_ _0\"></span>costo pr<span class=\"_ _0\"></span>evidenziale relativo <span class=\"_ _0\"></span>alle prestazioni di<span class=\"_ _0\"></span> lavoro passate, <span class=\"_ _0\"></span>oltre al valore <span class=\"_\"> </span>attuale <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>eventuali <span class=\"_ _8b\"> </span>rimborsi <span class=\"_ _8b\"> </span>disponibili <span class=\"_ _8b\"> </span>e <span class=\"_\"> </span>alla <span class=\"_ _8b\"> </span>riduzione <span class=\"_ _8b\"> </span>dei <span class=\"_ _8b\"> </span>contributi <span class=\"_ _8b\"> </span>futuri <span class=\"_ _8b\"> </span>al <span class=\"_\"> </span>pi<span class=\"_ _0\"></span>ano. <span class=\"_\"> </span>Il <span class=\"_\"> </span>costo<span class=\"_ _0\"></span> previdenziale relativo alle prestazioni di lavoro <span class=\"_ _0\"></span>passate \u00e8 rilevato nell'utile o nella perdita<span class=\"_ _0\"></span> <span class=\"ff5d\">d\u2019esercizio</span>. I <span class=\"_ _2d\"> </span>contributi <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>datore <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>lavoro <span class=\"_ _2d\"> </span>versati <span class=\"_ _2d\"> </span>dal <span class=\"_ _2c\"></span>Gru<span class=\"_ _0\"></span>ppo <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>un'entit\u00e0 <span class=\"_ _2c\"></span>indipenden<span class=\"_ _0\"></span>te <span class=\"_ _2d\"> </span>nell'ambito <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>a contribuzione <span class=\"_ _2b\"></span>defin<span class=\"_ _0\"></span>ita, <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>possono <span class=\"_ _2b\"></span>sorgere <span class=\"_ _2b\"></span>ul<span class=\"_ _0\"></span>teriori <span class=\"_ _2b\"></span>obbligh<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>legali <span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>impliciti <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>pagamento, <span class=\"_ _29\"></span>sono spesati nel momento<span class=\"_ _0\"></span> in cui <span class=\"_ _0\"></span>sono sostenuti, <span class=\"_ _0\"></span>non appena il <span class=\"_ _0\"></span>dipendente \u00e8 in <span class=\"_ _0\"></span>servizio. I <span class=\"_ _0\"></span>paga<span class=\"_ _22\"></span>menti anticipati sono riconosciuti <span class=\"_ _29\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>misura in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>si crea <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>diritto al <span class=\"_ _2b\"></span>rimborso <span class=\"_ _2b\"></span>o alla <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>dei pagamenti <span class=\"_ _2b\"></span>futuri.<span class=\"_ _0\"></span> 2.7.14.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Fondi rischi ed oneri I fondi <span class=\"_ _29\"></span>per rischi <span class=\"_ _2b\"></span>ed oneri sono <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>con scadenza <span class=\"_ _2b\"></span>o ammontare incerti. Tali <span class=\"_ _2b\"></span>fondi sono rilevati solo se:<span class=\"ls0\"> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">il Gruppo ha un\u2019obbligazione in corso (legale o implicita) quale ris<span class=\"_ _0\"></span>ultato di un evento passato;<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">\u00e8 probabile <span class=\"_ _0\"></span>che per <span class=\"_ _0\"></span>adempiere all\u2019obbligazione <span class=\"_ _0\"></span>si render\u00e0 <span class=\"_ _0\"></span>necessario l\u2019impiego <span class=\"_ _0\"></span>di risorse <span class=\"_ _0\"></span>atte a </span></span>produrre benefici economici; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">pu\u00f2 essere fatta <span class=\"ff5d\">una stima attendibile d<span class=\"_ _0\"></span>ell\u2019ammontare dell\u2019obbligazione.<span class=\"_ _0\"></span></span> </span></span>Gli <span class=\"_ _2b\"></span>importi accantonati <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>quindi <span class=\"_ _2b\"></span>le <span class=\"_ _29\"></span>migliori <span class=\"_ _2b\"></span>stime dell\u2019onere <span class=\"_ _2b\"></span>necessario <span class=\"_ _2b\"></span>per estinguere <span class=\"_ _2b\"></span>l\u2019obbligazione o per <span class=\"_ _2b\"></span>trasferirla a terzi <span class=\"_ _2b\"></span>alla data di <span class=\"_ _2b\"></span>riferimento del bilancio. <span class=\"_ _29\"></span>Laddove <span class=\"_ _29\"></span>l\u2019effetto del <span class=\"ff56\">valore <span class=\"_ _2b\"></span>attuale del <span class=\"_ _29\"></span>denaro \u00e8 <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> </span>aspetto rilevante, l\u2019importo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> un <span class=\"_ _29\"></span>accantonamento \u00e8 <span class=\"_ _29\"></span>rappresentato dal <span class=\"_ _29\"></span>valore attuale <span class=\"_ _29\"></span>degli oneri <span class=\"_ _29\"></span>che si <span class=\"_ _2b\"></span>suppo<span class=\"_ _0\"></span>ne saranno necessari per estinguere l\u2019obbl<span class=\"_ _0\"></span>igazione.<span class=\"ff56\"> </span>I <span class=\"_ _29\"></span>fondi <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>garanzia sono <span class=\"_ _29\"></span>accantonati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>base all'evoluzione <span class=\"_ _29\"></span>prevista della <span class=\"_ _2b\"></span>perdita. Gli <span class=\"_ _2b\"></span>accantonamenti per contratti <span class=\"_ _22\"></span>d'acquisto <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendita <span class=\"_ _22\"></span>onerosi <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>stabiliti <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ando <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>totali <span class=\"_ _0\"></span>previsti <span class=\"_ _23\"></span>superano <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>vendite attese.  Gli <span class=\"_ _2c\"></span>accantonamenti <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"></span>ristrutturazione <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>rilevati <span class=\"_ _2c\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2c\"></span>viene <span class=\"_ _2c\"> </span>stabilito <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>comunicat<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"></span>parti interessate un piano di ristrutturazione formale e detta<span class=\"_ _0\"></span>gliato.  Gli <span class=\"_ _0\"></span>accantonamenti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>contratti <span class=\"_ _0\"></span>on<span class=\"_ _0\"></span>erosi <span class=\"_ _0\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>se <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>inevitabili <span class=\"_ _22\"></span>derivanti <span class=\"_ _22\"></span>dal <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>tratto superano <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>benefici <span class=\"_ _0\"></span>previsti. <span class=\"_ _0\"></span>In <span class=\"_ _0\"></span>questo <span class=\"_ _0\"></span>caso, <span class=\"_ _0\"></span>l'accantonamento <span class=\"_ _0\"></span>viene <span class=\"_ _0\"></span>reg<span class=\"_ _22\"></span>istrato <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>minore <span class=\"_ _0\"></span>tra il costo previsto per la risoluzione del con<span class=\"_ _0\"></span>tratto e il costo netto previsto per la sua continuazione.<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>accant<span class=\"_ _0\"></span>onamenti <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ris<span class=\"_ _0\"></span>chi <span class=\"_ _22\"></span>ambientali <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>fine <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>eliminare <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>danni <span class=\"_ _0\"></span>ambientali<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>derivanti da potenziale contaminazione e le relative sp<span class=\"_ _0\"></span>ese di gestione. Passivit\u00e0 potenziali Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _28\"></span>includono <span class=\"_ _28\"></span>obbligazioni <span class=\"_ _28\"></span>potenziali, <span class=\"_ _28\"></span>derivanti <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>eventi <span class=\"_ _28\"></span>passati, <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>richiedono l'adempimento <span class=\"_\"> </span>solo <span class=\"_ _8b\"> </span>se <span class=\"_\"> </span>si <span class=\"_ _8b\"> </span>verificano <span class=\"_ _8b\"> </span>uno <span class=\"_ _8b\"> </span>o <span class=\"_\"> </span>pi\u00f9 <span class=\"_ _8b\"> </span>eventi <span class=\"_\"> </span>futu<span class=\"_ _0\"></span>ri <span class=\"_\"> </span>incerti, <span class=\"_\"> </span>che <span class=\"_\"> </span>l'i<span class=\"_ _0\"></span>m<span class=\"_ _0\"></span>presa <span class=\"_\"> </span>non <span class=\"_ _8b\"> </span>pu\u00f2 <span class=\"_ _8b\"> </span>controllare completamente. Inoltre, <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>potenziali includono obbli<span class=\"_ _29\"></span>gazioni <span class=\"_ _29\"></span>attuali <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>ricon<span class=\"_ _0\"></span>osciute <span class=\"_ _29\"></span>che <span class=\"_ _29\"></span>derivano <span class=\"_ _29\"></span>da eventi <span class=\"_ _2e\"> </span>passati <span class=\"_ _2e\"> </span>ma <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>quali <span class=\"_ _2f\"> </span>\u00e8 <span class=\"_ _8b\"> </span>improbabile <span class=\"_ _2e\"> </span>che <span class=\"_ _2e\"> </span>sia <span class=\"_ _2e\"> </span>neces<span class=\"_ _0\"></span>sario <span class=\"_ _2e\"> </span>un <span class=\"_ _2e\"> </span>esborso <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>risor<span class=\"_ _0\"></span>se <span class=\"_ _8b\"> </span>per <span class=\"_ _2f\"> </span>estinguere l'obbligazione, n<span class=\"_ _0\"></span>onch\u00e9 <span class=\"_ _0\"></span>obbligazioni <span class=\"_ _0\"></span>il cui <span class=\"_ _0\"></span>importo <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>pu\u00f2 <span class=\"_ _0\"></span>essere determinato <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>sufficiente <span class=\"_ _0\"></span>attendibilit\u00e0. <span class=\"_ _0\"></span>A meno che la possibilit\u00e0 di un esborso per l'adempimento sia remota, viene fornita una descrizione della natura della passivit\u00e0 potenziale. 2.7.15.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Dividendi I <span class=\"_ _22\"></span>dividendi <span class=\"_ _22\"></span>d<span class=\"ff5d\">a <span class=\"_ _22\"></span>distribui<span class=\"_ _0\"></span>re <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>riconosciuti <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>solo <span class=\"_ _0\"></span>nell\u2019esercizio <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>quale <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>stessi <span class=\"_ _22\"></span>sono </span>stati <span class=\"_ _2b\"></span>deliberat<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>dall\u2019<span class=\"_ _0\"></span>Assemblea <span class=\"_ _2b\"></span>degli Azionisti. <span class=\"_ _2b\"></span>I <span class=\"_ _29\"></span>dividendi <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>percepire <span class=\"_ _2b\"></span>sono rilevati <span class=\"_ _2b\"></span>soltanto <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stabilito il diritto a ricevere il pagamento. 2.7.16.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Riconoscimento dei ricavi<span class=\"_ _0\"></span> Il riconoscimento dei ricavi avviene attraverso le seg<span class=\"_ _0\"></span>uenti fasi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">identificazione del contratto (o dei contratti) co<span class=\"_ _0\"></span>n il cliente; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">individuazione delle obbligazioni di fare (o <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance oblig<span class=\"_ _0\"></span>ations\u201d</span><span class=\"ls7\">);</span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">determinazione del prezzo <span class=\"_ _29\"></span>della <span class=\"ff5d\">transazione: <span class=\"_ _29\"></span>il prezzo <span class=\"_ _29\"></span>della transazione <span class=\"_ _29\"></span>\u00e8 l\u2019importo <span class=\"_ _29\"></span>del corrispettivo <span class=\"_ _29\"></span>a </span></span></span>cui si ritiene di avere diritto in cambio del trasferimen<span class=\"_ _0\"></span>to al cliente dei servizi promessi;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">ripartizione del prezzo dell\u2019operazione tra le <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance obligations\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> del contratto; </span></span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56 ls7\">ri<span class=\"ls0\">conoscimento del ricavo nel momento del sod<span class=\"_ _0\"></span>disfacimento della <span class=\"ff5e\">\u201cp<span class=\"_ _0\"></span>erformance obligation\u201d<span class=\"_ _0\"></span></span>. </span></span></span>Specificatamente i ricavi possono essere ricono<span class=\"_ _0\"></span>sciuti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">in <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>momento <span class=\"_ _28\"></span>preciso, <span class=\"_ _28\"></span>quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>adempiuta <span class=\"_ _28\"></span>l\u2019obbligazione <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>fare <span class=\"_ _28\"></span>trasferendo <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>cliente <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>bene <span class=\"_ _23\"></span>o </span></span>servizio promesso <span class=\"ff5e\">(\u201cat a point in time\u201d<span class=\"_ _0\"></span></span>), o \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">nel <span class=\"_ _2b\"></span>corso<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del tempo, <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>che <span class=\"_ _2b\"></span>\u00e8 adempiuta <span class=\"_ _2b\"></span>l\u2019obbligazione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>fare, <span class=\"_ _29\"></span>trasferendo <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>cliente <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>bene </span></span>o servizio promesso (<span class=\"ff5e\">\u201cover time\u201d<span class=\"_ _0\"></span></span><span class=\"ls7\">).</span> I <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2a\"> </span>sono <span class=\"_ _2d\"> </span>rilevati <span class=\"_ _2a\"> </span>quando <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>dei <span class=\"_ _2d\"> </span>prodotti <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2a\"> </span>trasferito <span class=\"_ _2d\"> </span>all'acquirent<span class=\"_ _0\"></span>e. <span class=\"_ _2a\"> </span>Ci\u00f2 <span class=\"_ _2d\"> </span>avviene solitamente <span class=\"_ _23\"></span>quando, <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>consegna, <span class=\"_ _28\"></span>l'acquirente <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>fisicamente <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>prodotti <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>li <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>accettati, <span class=\"_ _28\"></span>e anche i rischi e i benefici significativi della propriet\u00e0 dei beni son<span class=\"_ _0\"></span>o stati trasferiti all'acquirente.<span class=\"_ _0\"></span> La <span class=\"_ _23\"></span>maggior <span class=\"_ _23\"></span>parte <span class=\"_ _23\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>Gruppo <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>costituta <span class=\"_ _23\"></span>da <span class=\"_ _28\"></span>vendite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>beni <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>pertanto <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>realizzata <span class=\"_ _28\"></span>su <span class=\"_ _23\"></span>base puntuale, <span class=\"_ _2c\"> </span>in <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2c\"></span>l'obbligo <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>prestazione <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _2d\"> </span>soddisfatto <span class=\"_ _28\"></span>al <span class=\"_ _2d\"> </span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2d\"> </span>consegna. <span class=\"_ _2c\"></span>Non <span class=\"_ _2c\"></span>esistono<span class=\"_ _0\"></span> garanzie che vadano oltre la garanzia legale.<span class=\"_ _0\"></span> Un <span class=\"_ _2b\"></span>credito <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevato <span class=\"_ _2b\"></span>non<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>appena <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>diritto <span class=\"_ _2b\"></span>incondizionato <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>corrispettivo. <span class=\"_ _2b\"></span>Al <span class=\"_ _2b\"></span>momento dell'adempimento dell'obbligazione <span class=\"_ _2b\"></span>di pre<span class=\"_ _29\"></span>stazione <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>consegna, il <span class=\"_ _2b\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _29\"></span>matura <span class=\"_ _2b\"></span>un diritto <span class=\"_ _2b\"></span>incondizionato<span class=\"_ _0\"></span> al corrispettivo. Le componenti finanziarie significative non <span class=\"_ _0\"></span>sono incluse nei contratti con<span class=\"_ _0\"></span> i clienti.  Se <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>contratti <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>clienti <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>previsti <span class=\"_ _2b\"></span>sconti <span class=\"_ _2b\"></span>sui <span class=\"_ _29\"></span>volumi, <span class=\"_ _2b\"></span>solitamente <span class=\"_ _29\"></span>concordati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>volumi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>vendita su <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>periodo <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dodici <span class=\"_ _23\"></span>mesi, <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>inclusi <span class=\"_ _23\"></span>nella <span class=\"_ _23\"></span>determinazio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>corrispettivo. <span class=\"_ _23\"></span>La <span class=\"_ _28\"></span>rilevazione <span class=\"_ _23\"></span>dei ric<span class=\"ls0\">avi <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>questi <span class=\"_ _29\"></span>casi <span class=\"_ _2b\"></span>si basa <span class=\"_ _2b\"></span>sui prezzi <span class=\"_ _2b\"></span>specificati nei <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>tratti al <span class=\"_ _2b\"></span>netto <span class=\"_ _29\"></span>degli <span class=\"_ _29\"></span>sconti <span class=\"_ _2b\"></span>sul volume <span class=\"_ _29\"></span>stimati. <span class=\"_ _2b\"></span>Gli sconti </span>sui <span class=\"_ _22\"></span>volumi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>calcolati <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>dell'importo <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>probabile. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>ricavi <span class=\"_ _22\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _23\"></span>solo <span class=\"_ _22\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>altamente probabile che non vi siano sto<span class=\"_ _0\"></span>rni significativi. I <span class=\"_ _23\"></span>redditi <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>locazione <span class=\"_ _23\"></span>degli <span class=\"_ _23\"></span>investimenti <span class=\"_ _22\"></span>immobiliari <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _22\"></span>altri <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>modo <span class=\"_ _23\"></span>lineare sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>rapporto <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>locazione. <span class=\"_ _22\"></span>I <span class=\"_ _22\"></span>canoni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>locazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _22\"></span>come altri proventi. Gli interessi <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>vengono maturati <span class=\"_ _0\"></span>su base <span class=\"_ _0\"></span>temporale <span class=\"_ _0\"></span>con riferimento <span class=\"_ _0\"></span>all'importo <span class=\"_ _0\"></span>principale e <span class=\"_ _0\"></span>al tasso<span class=\"_ _0\"></span> di interesse effettivo.  Come <span class=\"_ _28\"></span>menzionato <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>paragrafo <span class=\"_ _28\"></span>precedente, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>proventi <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>dividendi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>a ricevere il pagamento \u00e8 stato <span class=\"_ _0\"></span>legalmente stabilito. 2.7.17.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri e proventi finanzia<span class=\"_ _0\"></span>ri Gli oneri e proventi finanziari sono rilevati a conto <span class=\"_ _0\"></span>economico in base al principio della maturazione.<span class=\"_ _0\"></span> Se la <span class=\"_ _2b\"></span>produzio<span class=\"_ _0\"></span>ne di <span class=\"_ _2b\"></span>attivit\u00e0 immateriali <span class=\"_ _29\"></span>qualificate o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> attivit\u00e0 <span class=\"_ _2b\"></span>materiali si protrae <span class=\"_ _2b\"></span>per un lungo <span class=\"_ _29\"></span>periodo, gli <span class=\"_ _2b\"></span>oneri <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>verificano <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>questo <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>fino al <span class=\"_ _2b\"></span>completamento <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>rilevati <span class=\"_ _2b\"></span>come <span class=\"_ _29\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>costi di <span class=\"_ _22\"></span>produzione <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _0\"></span>IAS <span class=\"_ _23\"></span>23. <span class=\"_ _22\"></span>Alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _23\"></span>non <span class=\"_ _0\"></span>vi <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>applicazione all'interno del Gruppo. Gli <span class=\"_ _0\"></span>oneri <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>fino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>destinati <span class=\"_ _0\"></span>all'uso <span class=\"_ _0\"></span>previsto <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>essere registrati <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>ammortizzati <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>alla <span class=\"_ _2d\"> </span>loro <span class=\"_ _2d\"> </span>vita <span class=\"_ _2c\"> </span>utile <span class=\"_ _2d\"> </span>prevista. <span class=\"_ _2d\"> </span>Tutti <span class=\"_ _2c\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>altri <span class=\"_ _2c\"></span>oneri <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>correnti <span class=\"_ _2c\"> </span>sono registrati nel periodo in cui si verificano<span class=\"_ _0\"></span> nel conto economico tra le spese finanziarie.<span class=\"_ _0\"></span> 2.7.18.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Utile (perdita) per azione<span class=\"_ _0\"></span> Per <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _29\"></span>(perdita) <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>e diluita <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>azione ordinaria <span class=\"_ _2b\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>stati <span class=\"_ _29\"></span>impiegati <span class=\"_ _2b\"></span>i seguenti <span class=\"_ _29\"></span>criteri:<span class=\"ff56\"> </span>a) <span class=\"_ _97\"> </span>al <span class=\"_ _2d\"> </span>numeratore <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>utilizzato <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>risultato <span class=\"_ _2d\"> </span>economico <span class=\"_ _2d\"> </span><span class=\"ff5d\">attribuibi<span class=\"_ _0\"></span>le <span class=\"_ _2d\"> </span>all\u2019entit\u00e0 <span class=\"_ _2d\"> </span>Capogruppo <span class=\"_ _2a\"> </span>rettificato <span class=\"_ _2d\"> </span>del </span>risultato che <span class=\"_ _29\"></span>deve ess<span class=\"_ _29\"></span>ere attribuito, <span class=\"_ _29\"></span>per l\u2019anno <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>corso, alle <span class=\"_ _29\"></span>azioni di <span class=\"_ _2b\"></span>risparmio in circolazione <span class=\"_ _29\"></span>al netto delle azioni proprie di risparmio detenute direttamente o <span class=\"_ _0\"></span>tramite controllate;<span class=\"_ _0\"></span> b)<span class=\"ff58 ls0\"> <span class=\"_ _8e\"> </span><span class=\"ff56\">al denomin<span class=\"_ _0\"></span>atore <span class=\"_ _0\"></span>d<span class=\"ff5d\">ell\u2019indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>azion<span class=\"_ _0\"></span>e\u201d <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>applicata <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>media <span class=\"_ _0\"></span>ponderata <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>in </span></span></span>circolazione nell\u2019esercizio al netto delle azioni p<span class=\"_ _0\"></span>roprie;<span class=\"ff56\"> </span>c)<span class=\"ff58 ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5d\">al <span class=\"_ _22\"></span>denominatore <span class=\"_ _0\"></span>dell\u2019<span class=\"_ _0\"></span>indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _22\"></span>diluito <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>azione\u201d <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>ponderata <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>ordinarie <span class=\"_ _22\"></span>\u00e8 </span></span>rettific<span class=\"ff5d\">ata ipotizzando l\u2019emissione di nuove azioni ord<span class=\"_ _0\"></span>inarie in seguito:<span class=\"_ _0\"></span></span> i)<span class=\"ff58 ls0\"> <span class=\"_ _86\"> </span><span class=\"ff56\">alla conversione di tutti i <span class=\"ff5a\">warrant</span> eventualmente in circolazion<span class=\"_ _0\"></span>e; </span></span>ii)<span class=\"ff58 ls0\"> <span class=\"_ _3b\"> </span><span class=\"ff5d\">all\u2019esercizio di tutte le <span class=\"ff5a\">stock optio<span class=\"_ _0\"></span>n<span class=\"ff56\"> eventualmente assegnate. </span></span></span></span>In detto <span class=\"_ _29\"></span>calcolo si <span class=\"_ _29\"></span>ipotizza che <span class=\"_ _2b\"></span>le conversioni dei <span class=\"ff5a\">warrant <span class=\"ff5d\">e <span class=\"_ _29\"></span>l\u2019esercizio delle <span class=\"_ _29\"></span><span class=\"ff5a\">stock option <span class=\"_ _29\"></span><span class=\"ff56\">siano avvenuti </span></span></span></span>all\u2019inizio dell\u2019esercizio e che non<span class=\"_ _0\"></span> vi siano maggiori proventi o minori oneri derivanti da questi accadimenti.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Il calcolo <span class=\"_ _2b\"></span>al 31 dicembre <span class=\"_ _2b\"></span>2<span class=\"_ _0\"></span>022 <span class=\"ff5d\">dell\u2019utile <span class=\"_ _29\"></span>base <span class=\"_ _29\"></span>per azione <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>stato effettuato <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>siderando il <span class=\"_ _29\"></span>ris<span class=\"ff56\">ultato netto </span></span>di Gruppo <span class=\"_ _29\"></span>al netto <span class=\"_ _2b\"></span>della quota spettante alle <span class=\"_ _2b\"></span>azioni di risparmio, <span class=\"_ _29\"></span>attribuibile ai <span class=\"_ _29\"></span>possessori di <span class=\"_ _29\"></span>azioni ordinarie <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span> circolazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>nu<span class=\"_ _0\"></span>mero <span class=\"_ _23\"></span>medio <span class=\"_ _23\"></span>ponderato <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>azioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>circolazione <span class=\"_ _28\"></span>pari <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>375.974.209 <span class=\"_ _23\"></span>tenendo <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>delle eventuali <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erazioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>frazionamento <span class=\"_ _2c\"></span>e/o <span class=\"_ _2d\"> </span>raggruppamento <span class=\"_ _2c\"></span>e <span class=\"_ _2c\"> </span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2c\"></span>eventuali <span class=\"_ _2d\"> </span>aumenti/riduzioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>capitale sociale ai sensi dello IAS 33 par. 64.  2.7.19.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Conversione delle poste in va<span class=\"_ _0\"></span>luta estera La <span class=\"_ _2d\"> </span>moneta <span class=\"_ _2d\"> </span>funzionale <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>l\u2019Euro, <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>valuta <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>cui <span class=\"_ _2d\"> </span>viene <span class=\"_ _2d\"> </span>predis<span class=\"ff56\">posto <span class=\"_ _2d\"> </span>e </span>pubblicato <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>bilancio. <span class=\"_ _22\"></span>Le <span class=\"_ _22\"></span>transazioni <span class=\"_ _22\"></span>effettuate <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>uta <span class=\"_ _22\"></span>estera <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevate <span class=\"_ _22\"></span>inizialmen<span class=\"_ _0\"></span>te <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>cambio alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>dell\u2019operazione. <span class=\"_ _22\"></span>Alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _0\"></span>monetarie <span class=\"_ _22\"></span>denominate <span class=\"_ _22\"></span>in valuta <span class=\"_ _0\"></span>estera son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>convertite <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>di cambio <span class=\"_ _0\"></span>vi<span class=\"_ _0\"></span>gente a <span class=\"_ _0\"></span>tale <span class=\"_ _0\"></span>data. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partite <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>monetarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo storico <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _0\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>convertite <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cambio <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>vigore <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>dell\u2019<span class=\"_ _0\"></span>operazione. <span class=\"_ _22\"></span>Le<span class=\"_ _0\"></span> partite <span class=\"_\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_\"> </span>monetarie <span class=\"_ _8b\"> </span>is<span class=\"_ _0\"></span>critte <span class=\"_\"> </span>al <span class=\"_ _2e\"> </span>fair <span class=\"_\"> </span>valu<span class=\"_ _0\"></span>e <span class=\"_\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_\"> </span>con<span class=\"_ _0\"></span>vertite <span class=\"_ _2e\"> </span>utilizzando <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span>tasso <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>cambio <span class=\"_ _8b\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_\"> </span>di determinazione del valore di bilancio<span class=\"_ _0\"></span>. Le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>denominate <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>ta <span class=\"_ _23\"></span>estera <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>convertite <span class=\"_ _23\"></span>utilizzando <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>momento dell'operazione. <span class=\"_ _23\"></span>Il <span class=\"_ _22\"></span>momento <span class=\"_ _23\"></span>dell'operazione <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>determi<span class=\"_ _0\"></span>nazione <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>utilizzare <span class=\"_ _22\"></span>al<span class=\"_ _0\"></span> momento della <span class=\"_ _29\"></span>rilevazione iniziale <span class=\"_ _29\"></span>della relativa <span class=\"_ _29\"></span>attivit\u00e0, costo <span class=\"_ _29\"></span>o ricavo <span class=\"_ _29\"></span>(o parte <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>esso) \u00e8 <span class=\"_ _2b\"></span>la data in cui <span class=\"_ _29\"></span>l'entit\u00e0 rileva inizialmente <span class=\"_ _2b\"></span>l'attivit\u00e0 non moneta<span class=\"_ _29\"></span>ria o <span class=\"_ _2b\"></span>la passivit\u00e0 <span class=\"_ _29\"></span>non monetaria <span class=\"_ _2b\"></span>derivante dal pagamento o <span class=\"_ _2b\"></span>dall'incasso<span class=\"_ _0\"></span> di <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>anticipato. <span class=\"_ _22\"></span>Di <span class=\"_ _23\"></span>conseguenza, <span class=\"_ _23\"></span>tali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>monetarie <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertite <span class=\"_ _22\"></span>al tasso di cambio di una successiva data di b<span class=\"_ _0\"></span>ilancio. Nel caso di anticipi ricevuti per la vendita <span class=\"_ _29\"></span>di beni, questa transazione viene registrata per la prima volta come pa<span class=\"_ _0\"></span>ssivit\u00e0 <span class=\"_ _0\"></span>contrattuale <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>ven<span class=\"_ _0\"></span>gono <span class=\"_ _0\"></span>ricevuti <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>anticipi. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cambio <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>l'impo<span class=\"_ _0\"></span>rto della <span class=\"_ _2d\"> </span>successiva <span class=\"_ _2d\"> </span>rilevazione <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>l'ammont<span class=\"_ _0\"></span>are <span class=\"_ _2d\"> </span>dell'anticipo <span class=\"_ _2d\"> </span>ricevuto <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>quindi <span class=\"_ _2c\"></span>gi\u00e0 <span class=\"_ _2d\"> </span>determinato <span class=\"_ _2d\"> </span>al momento della rilevazione della passivit\u00e0 contrattuale.<span class=\"_ _0\"></span> Le voci <span class=\"_ _2b\"></span>monetarie (compresi i <span class=\"_ _29\"></span>crediti <span class=\"_ _29\"></span>e i <span class=\"_ _2b\"></span>debiti commerciali) sono <span class=\"_ _29\"></span>convertite al <span class=\"_ _2b\"></span>tasso di cambio <span class=\"_ _2b\"></span>corrente<span class=\"_ _0\"></span> alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>bilancio.<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>In<span class=\"_ _0\"></span>dipendentemente <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>eventuali <span class=\"_ _28\"></span>coperture <span class=\"_ _28\"></span>valutarie, <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>uti<span class=\"_ _22\"></span>li <span class=\"_ _23\"></span>o <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>perdite derivanti <span class=\"_ _29\"></span>dalla <span class=\"_ _2b\"></span>rimisura<span class=\"_ _0\"></span>zione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 monetarie <span class=\"_ _2b\"></span>(esclusa la <span class=\"_ _2b\"></span>conversione in <span class=\"_ _2b\"></span>valuta <span class=\"_ _29\"></span>estera <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>gli <span class=\"_ _29\"></span>investimenti netti) e delle passivit\u00e0 monetarie sono rilevati nel con<span class=\"_ _0\"></span>to economico come proventi o o<span class=\"_ _0\"></span>neri finanziari.<span class=\"_ _0\"></span> Applicando <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>concetto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valuta <span class=\"_ _23\"></span>funzionale, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>bilanci <span class=\"_ _23\"></span>annuali <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>estere <span class=\"_ _23\"></span>redatti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>valuta estera sono convertiti in euro utilizzando il metod<span class=\"_ _0\"></span>o del tasso di chiusura modificato.<span class=\"_ _0\"></span> La <span class=\"_ _2c\"></span>valuta <span class=\"_ _2c\"></span>funzionale <span class=\"_ _2c\"> </span>\u00e8 <span class=\"_ _2d\"> </span>determinata <span class=\"_ _28\"></span>dall'ambient<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>economico <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>imario <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>cui <span class=\"_ _2c\"> </span>l'entit\u00e0 <span class=\"_ _2c\"> </span>o<span class=\"_ _22\"></span>pera. <span class=\"_ _2c\"></span>Tutte <span class=\"_ _2c\"></span>le controllate <span class=\"_ _2b\"></span>svolgono <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>propria <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>modo <span class=\"_ _2b\"></span>indipendente <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>rispettivi <span class=\"_ _2b\"></span>mercati <span class=\"_ _2b\"></span>nazionali.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Pertanto, <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valuta funzionale di <span class=\"_ _0\"></span>tali entit\u00e0 <span class=\"_ _0\"></span>\u00e8 la <span class=\"_ _0\"></span>valuta lo<span class=\"_ _0\"></span>cale. Le attiv<span class=\"_ _0\"></span>it\u00e0 e le <span class=\"_ _0\"></span>passivit\u00e0 delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>convertite al tasso <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> cambio di <span class=\"_ _29\"></span>chiusura alla <span class=\"_ _2b\"></span>data di chiusura <span class=\"_ _29\"></span>del bilancio, <span class=\"_ _2b\"></span>mentre i ricavi <span class=\"_ _29\"></span>e i <span class=\"_ _2b\"></span>costi sono convertiti <span class=\"_ _29\"></span>al tasso <span class=\"_ _2b\"></span>di cambio medio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riferimento. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenze <span class=\"_ _2b\"></span>derivanti <span class=\"_ _2b\"></span>da <span class=\"_ _2b\"></span>tali <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>versioni <span class=\"_ _2b\"></span>applicate <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>attivit\u00e0, <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>passiv<span class=\"_ _0\"></span>it\u00e0 e <span class=\"_\"> </span>alle <span class=\"_ _8b\"> </span>compo<span class=\"_ _0\"></span>nenti <span class=\"_\"> </span>dell'utile<span class=\"_ _0\"></span> <span class=\"_ _8b\"> </span>netto <span class=\"_ _8b\"> </span>sono <span class=\"_ _8b\"> </span>riportate <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _8b\"> </span>nel <span class=\"_ _2e\"> </span>conto <span class=\"_ _8b\"> </span>economico <span class=\"_ _8b\"> </span>complessivo<span class=\"_ _0\"></span> <span class=\"_\"> </span><span class=\"ls3\">e <span class=\"_ _2e\"> </span></span>di conseguenza <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>hanno <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>impatto <span class=\"_ _22\"></span>sull'utile <span class=\"_ _0\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019esercizio<span class=\"_ _0\"></span></span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _22\"></span>differenze <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>rilevate <span class=\"_ _0\"></span>nell'utile <span class=\"_ _0\"></span>netto al momento della realizzazione<span class=\"_ _0\"></span>. 2.7.20.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Contributi pubblici I contributi pubblici sono <span class=\"_ _29\"></span>riconosciuti solo <span class=\"_ _29\"></span>se \u00e8 <span class=\"_ _29\"></span>ragionevolmente certo che siano rispettate le <span class=\"_ _29\"></span>condizioni e che i contributi s<span class=\"ls9\">ia<span class=\"ls1\">no </span></span>effettivamente ricevuti. I cont<span class=\"_ _0\"></span>ributi sono rilevati nell'utile netto nello stesso periodo in cui vengono rilevati i rispettivi costi<span class=\"_ _0\"></span>.  I <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>tributi <span class=\"_ _23\"></span>pubblici <span class=\"_ _22\"></span>relativi <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>attivit\u00e0, <span class=\"_ _22\"></span>principalmente <span class=\"_ _23\"></span>immobili, <span class=\"_ _23\"></span>impianti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>macchinari, <span class=\"_ _22\"></span>so<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>dedotti dal costo dell'attivit\u00e0. Le sovvenzioni <span class=\"_ _0\"></span>che diventano <span class=\"_ _0\"></span>esigibili a titolo <span class=\"_ _0\"></span>di compensazione <span class=\"_ _0\"></span>di spese <span class=\"_ _0\"></span>o perdite gi\u00e0 <span class=\"_ _0\"></span>sostenute o <span class=\"_ _0\"></span>allo scopo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _0\"></span>un <span class=\"_ _22\"></span>sostegno <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziario <span class=\"_ _0\"></span>immediato <span class=\"_ _22\"></span>senza <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>futuri <span class=\"_ _0\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>contabilizzate <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>proventi operativi nel periodo in cui diventano esigibili per <span class=\"_ _0\"></span>il Gruppo<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__27": {
   "value": "2.7.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Principi contabili adottati 2.7.1.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Immobili, impianti e macchinari </span></span>2.7.1.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Beni strumenta<span class=\"_ _0\"></span>li di propriet\u00e0 Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>macchinari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo <span class=\"_ _0\"></span>d\u2019acquisizione <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>produzione, <span class=\"_ _0\"></span>comprensivo degli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>acce<span class=\"_ _29\"></span>ssori <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>diretta <span class=\"_ _23\"></span>imputazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>esposti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>relativi <span class=\"_ _28\"></span>ammortamenti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>eventuali perdite di valore determina<span class=\"_ _0\"></span>te secondo le mod<span class=\"_ _0\"></span>alit\u00e0 descritte in <span class=\"_ _0\"></span>seguito. Se un<span class=\"_ _0\"></span> elemento di immobili,<span class=\"_ _0\"></span> impianti e macchinari <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _2c\"></span>composto <span class=\"_ _2c\"></span>da <span class=\"_ _2c\"></span>vari <span class=\"_ _28\"></span>compo<span class=\"_ _0\"></span>nenti <span class=\"_ _2c\"></span>aventi <span class=\"_ _28\"></span>vite <span class=\"_ _2c\"></span>utili <span class=\"_ _2c\"></span>differenti, <span class=\"_ _28\"></span>tali <span class=\"_ _2c\"></span>componenti <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>contabilizzati separatamente. Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>macchinari sono <span class=\"_ _22\"></span>valutati <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo, <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _0\"></span>ammortamenti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>perdite di valore <span class=\"_ _0\"></span>accumulate, ad <span class=\"_ _0\"></span>eccezione dei <span class=\"_ _0\"></span>terreni che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>sono ammortizzati <span class=\"_ _0\"></span>e che <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>valutati al <span class=\"_ _0\"></span>costo al <span class=\"_ _0\"></span>netto delle perdite di valore accumulate. I <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>manutenzione <span class=\"_ _2f\"> </span>ordinaria <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>spesati <span class=\"_ _2f\"> </span>nell\u2019esercizio <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>sostenimento <span class=\"_ _2f\"> </span>mentre <span class=\"_ _2f\"> </span>i <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di sostituzione <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>alcune <span class=\"_ _0\"></span>parti <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>immobilizzazioni <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>manutenzione <span class=\"_ _0\"></span>straord<span class=\"_ _0\"></span>inaria <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>capitalizzati quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>probabile <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>derivino <span class=\"_ _23\"></span>futuri <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>misurabili. <span class=\"_ _23\"></span>Gli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>relativi all\u2019acquisto di immobilizzazioni sono<span class=\"_ _0\"></span> capitalizzati ai sensi dello IAS 23.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Gli ammortamenti sono contabilizzati a partire d<span class=\"_ _0\"></span>al mese in cui il cespite \u00e8 disponibile per l\u2019uso, oppure \u00e8 <span class=\"_ _22\"></span>potenzialmente <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>grado <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>economici <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>esso <span class=\"_ _22\"></span>associati. <span class=\"_ _22\"></span>Sono<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>imputati <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>mensile <span class=\"_ _22\"></span>a quote costanti fino ad esaurimento della vita utile, <span class=\"_ _0\"></span>oppure, per le dismissioni, fino all\u2019ultimo mese di utilizzo.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>La vi<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>utile \u00e8 <span class=\"_ _0\"></span>costantemente <span class=\"_ _0\"></span>verificata <span class=\"_ _0\"></span>tene<span class=\"_ _0\"></span><span class=\"ff5d\">ndo <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>considerazione <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>cambiamenti <span class=\"_ _0\"></span>nell\u2019intensit\u00e0 </span>di <span class=\"_ _2d\"> </span>utilizzo <span class=\"_ _2d\"> </span>dei <span class=\"_ _2a\"> </span>beni <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>eventuali <span class=\"_ _2d\"> </span>cambiamenti <span class=\"_ _2a\"> </span>ai <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>d\u2019ammortamento <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>apportati <span class=\"_ _2d\"> </span>con <span class=\"_ _2d\"> </span>applicazione prospettica. Gli ammortamenti sono calcolati in base alle seguenti <span class=\"_ _0\"></span>vite utili: Fabbricati da 25 a 50 anni Impianti e macchinari da 10 a 40 anni Altre attrezzature da 5 a 15 anni Al momento della dismissione, il costo e il corrispon<span class=\"_ _0\"></span>dente ammortamento accumulato vengono eliminati; eventuali utili o perdite vengono registrati <span class=\"_ _0\"></span>nel conto economico. <span class=\"_ _0\"></span> 2.7.1.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Immobilizzazioni <span class=\"_ _0\"></span>in leasing  Un contratto, <span class=\"_ _0\"></span>o parte <span class=\"_ _0\"></span>di esso, <span class=\"_ _0\"></span>\u00e8 classificato <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _0\"></span>se, in cambio <span class=\"_ _0\"></span>di un <span class=\"_ _0\"></span>corrispettivo, conferisce <span class=\"_ _0\"></span>il diritto <span class=\"_ _2b\"></span>di controllare <span class=\"_ _2b\"></span>l'utilizzo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un'attivit\u00e0 specificata <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>un periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>tempo,<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>quindi, <span class=\"_ _29\"></span>se <span class=\"_ _2b\"></span>lungo tutt<span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>il periodo di utilizzo del bene si godr\u00e0 di entrambi i seguenti di<span class=\"_ _0\"></span>ritti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>di ott<span class=\"_ _29\"></span>enere <span class=\"_ _2b\"></span>sostan<span class=\"_ _0\"></span>zialmente <span class=\"_ _2b\"></span>tu<span class=\"_ _0\"></span>tti <span class=\"_ _2b\"></span>i benefici <span class=\"_ _2b\"></span>economici <span class=\"_ _29\"></span>derivanti <span class=\"_ _2b\"></span>dall'utilizzo dell'attivit\u00e0;  </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il diritto di decidere sull'utilizzo dell'attivit\u00e0.<span class=\"_ _0\"></span> </span></span>In caso di modifica dei termini e delle con<span class=\"_ _0\"></span>dizioni del contratto si procede ad una nuova valutazione p<span class=\"_ _0\"></span>er determinare se il contratto \u00e8 o contiene un leasing.<span class=\"_ _0\"></span> Il Gruppo non applica le presenti regole:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasin</span>g di attivit\u00e0 immateriali; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasing</span> a breve termine (durata minore o ugu<span class=\"_ _0\"></span>ale a 12 mesi). </span></span>Tutti <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span><span class=\"ff5a\">leasing <span class=\"_ _22\"></span></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>l'attivit\u00e0 <span class=\"_ _22\"></span>sottostante <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>modesto <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(attivit\u00e0 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>unitario <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>minore <span class=\"_ _22\"></span>o uguale a Euro 5.000) rientrano nell\u2019applicazione del mod<span class=\"_ _0\"></span>ello di calcolo del diritto d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Una <span class=\"_ _28\"></span>volta <span class=\"_ _28\"></span>verificato <span class=\"_ _2c\"></span>se <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>contratto <span class=\"_ _28\"></span>si <span class=\"_ _2c\"></span>configuri <span class=\"_ _28\"></span>quale <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>decorrenza <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>contratto vengono rilevate l'attivit\u00e0 consistente n<span class=\"_ _0\"></span>el diritto di utilizzo e la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>. La valutazione iniziale dell'attivit\u00e0 consistente nel diritto d<span class=\"_ _0\"></span>i utilizzo avviene al costo che comprende:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">l'importo della valutazione iniziale della passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _22\"></span>do<span class=\"_ _0\"></span>vuti <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _23\"></span>effettuati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>prima <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto </span></span>degli incentivi al <span class=\"ff5a\">leasing</span> ricevuti; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i costi iniziali diretti sostenuti dal locatario; e<span class=\"_ _0\"></span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">la <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>costi <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>dovranno <span class=\"_ _22\"></span>sostenere <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>smantellamento <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>l<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>rimozion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dell'attivit\u00e0 </span></span>sottostante <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>ripristino <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>sito <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>ubicata <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>rip<span class=\"_ _0\"></span>ristino <span class=\"_ _22\"></span>dell'attivit\u00e0 <span class=\"_ _23\"></span>sottostante nelle condizioni previste dai termini e dalle cond<span class=\"_ _0\"></span>izioni del <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. La <span class=\"_ _0\"></span>valutazione <span class=\"_ _22\"></span>iniziale <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>avviene <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>pagamenti <span class=\"_ _0\"></span>dovuti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>versati <span class=\"_ _2d\"> </span>a <span class=\"_ _2c\"> </span>tale<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>data. <span class=\"_ _2c\"></span>I <span class=\"_ _2d\"> </span>pagamenti <span class=\"_ _2d\"> </span>dovuti <span class=\"_ _2c\"></span>per <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span></span>leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>attualizzati <span class=\"_ _2d\"> </span>utilizzando <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>tasso <span class=\"_ _2d\"> </span>di </span>finanziamento ritenuto maggiormente rappresentativo<span class=\"_ _0\"></span> del costo del denaro.<span class=\"_ _0\"></span> La <span class=\"_ _41\"> </span>contabil<span class=\"_ _0\"></span>izzazione <span class=\"_ _41\"> </span>co<span class=\"_ _0\"></span><span class=\"ls15\">me <span class=\"_ _41\"> </span></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span> <span class=\"_ _3c\"> </span>avviene <span class=\"_ _41\"> </span>per <span class=\"_ _3c\"> </span>ogni <span class=\"_ _3c\"> </span>componente <span class=\"_ _41\"> </span>di <span class=\"_ _3c\"> </span><span class=\"ff5a\">leasing</span> <span class=\"_ _3c\"> </span>separandola <span class=\"_ _41\"> </span>dalle componenti non di <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. La <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>determinata <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>annullabile <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>vanno <span class=\"_ _22\"></span>aggiu<span class=\"_ _0\"></span>nti entrambi i seguenti periodi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _2b\"></span>coperti <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>un'opzione <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>proroga <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g<span class=\"ff56\">, <span class=\"_ _2b\"></span>se <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>ragio<span class=\"_ _0\"></span>nevole <span class=\"_ _2b\"></span>certezza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esercitare </span></span></span></span>l'opzione; e \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _23\"></span>coperti <span class=\"_ _22\"></span>dall'opzione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>risoluzione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ha <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>ragionevole <span class=\"_ _22\"></span>certezza <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>non<span class=\"_ _0\"></span> </span></span>esercitare l'opzione. In caso di <span class=\"_ _29\"></span>cambiamento del periodo <span class=\"_ _29\"></span>non annullabile del <span class=\"ff5a\">leasing</span>, <span class=\"_ _29\"></span>si provvede alla <span class=\"_ _2b\"></span>rid<span class=\"_ _0\"></span>eterminazione della durata del <span class=\"ff5a\">leasing</span>. Dopo <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>iscrizione <span class=\"_ _0\"></span>iniziale, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>dell'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>avviene <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>modello <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>costo. Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>nsistenti <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>diritto <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>utili<span class=\"_ _29\"></span>zzo <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>ammortizzate <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>contratto <span class=\"_ _22\"></span>sino <span class=\"_ _22\"></span>a<span class=\"_ _0\"></span>l termine della durata del <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. Dopo la data di decorrenza la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> \u00e8 valutata: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">aumentando il valore contabile per tener co<span class=\"_ _0\"></span>nto degli interessi sulla passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">diminuendo il valore contabile per tener co<span class=\"_ _0\"></span>nto dei pagamenti effettuati per il <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">rideterminando <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>tener <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>nuove <span class=\"_ _22\"></span>valutazioni <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>modifiche </span></span>del <span class=\"ff5a\">leasing</span> o della revisione dei pagamen<span class=\"_ _0\"></span>ti dovuti per il <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. Gli <span class=\"_ _23\"></span>interessi <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>variabili <span class=\"_ _23\"></span>dovuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>nella valutazione della passivit\u00e0 <span class=\"_ _29\"></span>del <span class=\"ff5a\">leasing</span>, sono <span class=\"_ _29\"></span>rilevati a <span class=\"_ _29\"></span>conto economico <span class=\"_ _29\"></span>nell'esercizio in cui <span class=\"_ _29\"></span>si verifica <span class=\"_ _29\"></span>l'evento o la circostanza che fa scattare i pagamen<span class=\"_ _0\"></span>ti. In bilancio <span class=\"_ _0\"></span>le attivit\u00e0 <span class=\"_ _0\"></span>consistenti <span class=\"_ _0\"></span>nel diritto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo sono <span class=\"_ _0\"></span>esposte separatamente<span class=\"_ _0\"></span> dalle <span class=\"_ _0\"></span>altre att<span class=\"_ _0\"></span>ivit\u00e0, le passivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _2c\"></span>separatamente <span class=\"_ _28\"></span>dalle <span class=\"_ _2c\"></span>altre <span class=\"_ _28\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>gli <span class=\"_ _2c\"></span>interessi <span class=\"_ _28\"></span>passivi <span class=\"_ _2c\"></span>sulla <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>del leasing<span class=\"ff56\"> <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _2e\"> </span>come <span class=\"_ _2e\"> </span>oneri <span class=\"_ _2f\"> </span>finanziari <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2e\"> </span>quota <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>ammortamento <span class=\"_ _2e\"> </span>dell'attivit\u00e0 </span>consistente nel diritto di utilizzo. 2.7.1.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Perdite di valore delle im<span class=\"_ _0\"></span>mobilizzazioni <span class=\"_ _0\"></span> In presenza di indicatori specifici di perdite di valore, immobili, impianti e macchinari sono soggetti ad una <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test<span class=\"_ _0\"></span></span>\u201d). <span class=\"_ _22\"></span>La <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>siste <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>ore <span class=\"_ _22\"></span>recuperabil<span class=\"_ _0\"></span>e dell\u2019attivit\u00e0, definito <span class=\"_ _0\"></span>come il <span class=\"_ _0\"></span>maggiore fra <span class=\"_ _0\"></span>il prezzo <span class=\"_ _0\"></span>netto di ven<span class=\"_ _0\"></span>dita e il <span class=\"_ _0\"></span>suo valore <span class=\"_ _0\"></span>d\u2019uso, <span class=\"_ _0\"></span>e nel confronto <span class=\"_ _0\"></span>con il <span class=\"_ _23\"></span>relativo <span class=\"_ _28\"></span>val<span class=\"ff5d\">ore <span class=\"_ _23\"></span>netto <span class=\"_ _28\"></span>contabile. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>recuperabile <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>maggior<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>d\u2019uso <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>suo <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span></span> dedotti <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinar<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>d\u2019uso <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>attesi <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>attualizzati <span class=\"_ _0\"></span>utilizzando<span class=\"_ _0\"></span> un <span class=\"_ _0\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto, <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>lordo <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>impost<span class=\"_ _0\"></span>e, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>rifletta <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>valutazioni <span class=\"_ _22\"></span>correnti <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>te<span class=\"_ _0\"></span>mporale del <span class=\"_\"> </span>denaro <span class=\"_ _8b\"> </span>e <span class=\"_ _2e\"> </span>dei <span class=\"_\"> </span>rischi <span class=\"_ _8b\"> </span>s<span class=\"_ _0\"></span>pecifici <span class=\"_\"> </span>dell\u2019<span class=\"_ _0\"></span>attivit\u00e0. <span class=\"_\"> </span>Se <span class=\"_ _8b\"> </span>il <span class=\"_ _8b\"> </span>valo<span class=\"_ _0\"></span>re <span class=\"_\"> </span>recuperabile <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_\"> </span>inferiore <span class=\"_ _8b\"> </span>al <span class=\"_ _8b\"> </span>va<span class=\"_ _0\"></span>lore <span class=\"_\"> </span>contabile, quest\u2019ultimo <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>recuperabile; <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>riduzione <span class=\"_ _22\"></span>viene <span class=\"_ _22\"></span>impu<span class=\"_ _0\"></span><span class=\"ff56\">tata <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>ov<span class=\"_ _0\"></span>vero <span class=\"_ _22\"></span>a </span>riserva <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>rivalutazione <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>stata <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2b\"></span>costituita in <span class=\"_ _2b\"></span>sede <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riv<span class=\"_ _0\"></span>alutazione <span class=\"_ _2b\"></span>dell\u2019attivit\u00e0 <span class=\"_ _29\"></span>interessata. Successive ed eventuali rivalutazioni seguon<span class=\"_ _0\"></span>o il percorso inverso.  2.7.2.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Investimenti immobiliari </span></span>Si <span class=\"_ _0\"></span>tratta <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _0\"></span>utilizzati <span class=\"_ _22\"></span>nella <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>oduzione <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>fornitura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>scopi <span class=\"_ _22\"></span>amministrativi <span class=\"_ _22\"></span>da parte del Grupp<span class=\"_ _0\"></span>o ma di <span class=\"_ _0\"></span>terreni e i <span class=\"_ _0\"></span>fabbricati detenuti <span class=\"_ _0\"></span>per ottenere canoni<span class=\"_ _0\"></span> di locazione e/o <span class=\"_ _0\"></span>per l'apprezzamento<span class=\"_ _0\"></span> del <span class=\"_ _2d\"> </span>capitale <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>vestito. <span class=\"_ _2d\"> </span>La <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>tali <span class=\"_ _2a\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>segue <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>modello <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span><span class=\"lsb\">, <span class=\"_ _2d\"> </span></span>rilevando <span class=\"_ _2a\"> </span>eventuali variazioni a conto economico e quindi non soggette a sistematico a<span class=\"_ _0\"></span>mmortamento. <span class=\"_ _0\"></span> Per <span class=\"_\"> </span>la <span class=\"_\"> </span>determinazione <span class=\"_\"> </span>del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>si <span class=\"_\"> </span>fa <span class=\"_\"> </span>riferime<span class=\"_ _29\"></span>nto <span class=\"_\"> </span>ad <span class=\"_\"> </span>un <span class=\"_\"> </span>valore <span class=\"_\"> </span>determinato <span class=\"_\"> </span>prevalentemente attraverso <span class=\"_ _22\"></span>perizie <span class=\"_ _23\"></span>esterne, <span class=\"_ _22\"></span>redatte <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>terzi <span class=\"_ _23\"></span>indipendenti <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>qualifiche <span class=\"_ _22\"></span>professionali <span class=\"_ _22\"></span>riconosciute <span class=\"_ _23\"></span>e che <span class=\"_ _2b\"></span>vantano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esperienze <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>tipol<span class=\"_ _0\"></span>ogia <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>immobili. <span class=\"_ _2b\"></span>Tali perizie <span class=\"_ _2b\"></span>si <span class=\"_ _2b\"></span>basano sul <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>metro <span class=\"_ _2b\"></span>quadrato stimato sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tazioni <span class=\"_ _0\"></span>effettuate <span class=\"_ _22\"></span>dall\u2019agenzia<span class=\"ff56\"> <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>territorio <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>immobili <span class=\"_ _22\"></span>ubicati <span class=\"_ _0\"></span>nella <span class=\"_ _22\"></span>stessa <span class=\"_ _0\"></span>area, <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>la </span>stessa <span class=\"_ _2c\"></span>destinazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2c\"> </span>considerand<span class=\"_ _0\"></span>o <span class=\"_ _2c\"></span>lo <span class=\"_ _2c\"></span>stato <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>manutenzione <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>tenuto <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>potenzialit\u00e0 <span class=\"_ _2c\"></span>immobiliari future. <span class=\"_ _23\"></span>Gli <span class=\"_ _22\"></span>utili <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dalla <span class=\"_ _22\"></span>vendita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>investimento <span class=\"_ _23\"></span>immobiliare <span class=\"_ _22\"></span>s<span class=\"_ _0\"></span>ono <span class=\"_ _23\"></span>registrati <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>conto economico. 2.7.3.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 immateriali </span></span>Le attivit\u00e0 <span class=\"_ _29\"></span>immateriali sono <span class=\"_ _29\"></span>attivit\u00e0 non <span class=\"_ _2b\"></span>monetarie, identificabili e prive <span class=\"_ _29\"></span>di co<span class=\"_ _29\"></span>nsistenza <span class=\"_ _29\"></span>fisica, possedute per essere <span class=\"_ _2b\"></span>ut<span class=\"_ _0\"></span>ilizzate in <span class=\"_ _29\"></span>un periodo <span class=\"_ _29\"></span>pluriennale <span class=\"_ _29\"></span>o indefinito. <span class=\"_ _29\"></span>Sono <span class=\"_ _29\"></span>iscritte al <span class=\"_ _2b\"></span>costo<span class=\"_ _0\"></span>, rettificato per <span class=\"_ _29\"></span>eventuali oneri accessori <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _22\"></span>attribuibili <span class=\"_ _22\"></span>all\u2019attivit\u00e0 <span class=\"_ _23\"></span>si <span class=\"_ _22\"></span>realizzino <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>se <span class=\"_ _0\"></span>il <span class=\"_ _23\"></span>costo dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>stessa <span class=\"_ _0\"></span>pu<span class=\"_ _0\"></span>\u00f2 <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>determinato <span class=\"_ _0\"></span>attendib<span class=\"_ _0\"></span>ilmente. <span class=\"_ _0\"></span>In <span class=\"_ _22\"></span>caso <span class=\"_ _0\"></span>contrario <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>costo <span class=\"_ _22\"></span>dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>immaterial<span class=\"_ _22\"></span><span class=\"ff56 ls6\">e </span>\u00e8 rilevato a conto economico nell\u2019esercizio in cui<span class=\"_ _0\"></span> \u00e8 stato sostenuto.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>2.7.3.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Avviamento e ag<span class=\"_ _0\"></span>gregazioni aziendali L\u2019avviamento <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riferisce <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>differenza <span class=\"_ _28\"></span>fra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>acquisizione <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _28\"></span>ed <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore corrente <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>attivit\u00e0, <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>trollata <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _28\"></span>L'avviamento derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>aggregazioni <span class=\"_ _2f\"> </span>aziendali <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _2e\"> </span>contabilizzato <span class=\"_ _2f\"> </span>come <span class=\"_ _2e\"> </span>attivit\u00e0 <span class=\"_ _2e\"> </span>al <span class=\"_ _2e\"> </span>costo <span class=\"_ _2f\"> </span>al <span class=\"_ _2e\"> </span>netto <span class=\"_ _2e\"> </span>delle <span class=\"_ _2e\"> </span>svalutazioni accumulate. <span class=\"_ _41\"> </span>La <span class=\"_ _3c\"> </span>vita <span class=\"_ _41\"> </span>utile <span class=\"_ _3c\"> </span>dell'avviamento <span class=\"_ _41\"> </span>\u00e8 <span class=\"_ _3c\"> </span>indefinita, <span class=\"_ _41\"> </span>e <span class=\"_ _41\"> </span>quindi <span class=\"_ _3c\"> </span>esso <span class=\"_ _41\"> </span>non <span class=\"_ _3c\"> </span>\u00e8 <span class=\"_ _41\"> </span>soggetto <span class=\"_ _41\"> </span>a <span class=\"_ _3c\"> </span>processo <span class=\"_ _41\"> </span>di ammortamento. Un\u2019aggregazione <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>imprese <span class=\"_ _22\"></span>consiste <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>un\u2019unione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>imprese <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>aziendali <span class=\"_ _22\"></span>distin<span class=\"_ _0\"></span>te <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>unico soggetto <span class=\"_ _2f\"> </span>tenuto <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>redazione <span class=\"_ _2f\"> </span>del <span class=\"_ _2e\"> </span>bilancio. <span class=\"_ _2f\"> </span>L\u2019aggregazione <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2f\"> </span>pu\u00f2 <span class=\"_ _2f\"> </span>dar <span class=\"_ _2f\"> </span>luogo <span class=\"_ _2e\"> </span>ad <span class=\"_ _2f\"> </span>un <span class=\"_ _2f\"> </span>legame partecipativo <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"></span>capogru<span class=\"ff5d\">ppo <span class=\"_ _2d\"> </span>(acquirente) <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>controllata <span class=\"_ _2c\"> </span>(acquisita) <span class=\"_ _2d\"> </span>ovvero <span class=\"_ _2c\"> </span>pu\u00f2 <span class=\"_ _2d\"> </span>anche <span class=\"_ _2d\"> </span>prevedere <span class=\"_ _2c\"> </span>l\u2019acquisto </span>dell\u2019attivo netto di un\u2019altra impresa, incluso l\u2019ev<span class=\"_ _0\"></span>entuale avviamento.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>ha <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _28\"></span>l'approccio <span class=\"_ _28\"></span>contabile <span class=\"_ _2c\"></span>dell'acquisizione <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>aggregazioni <span class=\"_ _28\"></span>aziendali <span class=\"_ _28\"></span>secondo<span class=\"_ _0\"></span> l'<span class=\"ls0\">IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>analogia <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>comune; <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>tale <span class=\"_ _23\"></span>appro<span class=\"_ _0\"></span>ccio, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>corrispettivo </span>trasferito per l'investimento viene confrontato con le attivit\u00e0 nette della partecipata, che vengono rimisurate al fair <span class=\"_ _2c\"></span>value<span class=\"ff56\">. <span class=\"_ _2d\"> </span>Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _2d\"> </span>nette <span class=\"_ _28\"></span>sono <span class=\"_ _2d\"> </span>basate <span class=\"_ _28\"></span>sui <span class=\"_ _2d\"> </span></span>fair <span class=\"_ _2c\"></span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _28\"></span>e <span class=\"_ _2d\"> </span>delle <span class=\"_ _28\"></span>passivi<span class=\"_ _0\"></span>t\u00e0, <span class=\"_ _2c\"></span>comprese <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>attivit\u00e0 </span>immateriali identificabili e le passivit\u00e0 potenziali d<span class=\"_ _0\"></span>a riconoscere come pas<span class=\"_ _0\"></span>sivit\u00e0 alla data di acquisizion<span class=\"_ _0\"></span>e. Se <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>possibile <span class=\"_ _2b\"></span>ottenere <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>borsa <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato <span class=\"_ _2b\"></span>pubblicati <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>l'allocazione<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>prezzo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>acquisto (Purchase Price <span class=\"_ _2b\"></span>Allocation<span class=\"_ _0\"></span> o <span class=\"_ _2b\"></span>\u201cPPA\u201d), i <span class=\"ff5a\">fair <span class=\"_ _2b\"></span>valu<span class=\"_ _0\"></span>e<span class=\"ff56\"> sono <span class=\"_ _2b\"></span>calcolati sulla base <span class=\"_ _2b\"></span>di tecniche di <span class=\"_ _2b\"></span>valutazion<span class=\"_ _0\"></span>e adeguate. </span></span>In <span class=\"_ _22\"></span>genere, <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>utilizza <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>sco<span class=\"_ _0\"></span>ntati <span class=\"_ _22\"></span>(\u201cDCF\u201d); <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>questo <span class=\"_ _22\"></span>metodo, <span class=\"_ _23\"></span>i flussi <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>cassa <span class=\"_ _49\"> </span>futuri <span class=\"_ _49\"> </span>attesi <span class=\"_ _3c\"> </span>che<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _49\"> </span>essere <span class=\"_ _3c\"> </span>gen<span class=\"_ _0\"></span>erati <span class=\"_ _3c\"> </span>dall'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _3c\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>attualizzati <span class=\"_ _3c\"> </span>alla <span class=\"_ _49\"> </span>data <span class=\"_ _49\"> </span>del consolidamento iniziale utilizzando un ta<span class=\"_ _0\"></span>sso di sconto che riflette il rischio intrinseco dell'attivit\u00e0.<span class=\"_ _0\"></span> L'eventuale <span class=\"_ _2b\"></span>e<span class=\"_ _0\"></span>ccedenza <span class=\"_ _2b\"></span>del corrispettivo <span class=\"_ _2b\"></span>trasferito <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>l'attivit\u00e0 acquisita <span class=\"_ _2b\"></span>rispetto <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>quota <span class=\"_ _29\"></span>proporzionale delle attivit\u00e0 nette acquisite viene <span class=\"_ _29\"></span>rilevata separatamente come avviamento; l'eventuale differenza negativa, al momento <span class=\"_ _2f\"> </span>de<span class=\"_ _0\"></span>lla <span class=\"_ _41\"> </span>rivalutazione <span class=\"_ _41\"> </span>delle <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _41\"> </span>e <span class=\"_ _2f\"> </span>passi<span class=\"_ _0\"></span>vit\u00e0 <span class=\"_ _41\"> </span>acquisite, <span class=\"_ _2f\"> </span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _2f\"> </span>im<span class=\"_ _0\"></span>putata <span class=\"_ _41\"> </span>direttamente <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>co<span class=\"_ _0\"></span>nto economico. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>minoranza <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>valutate <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>loro <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>orzionale <span class=\"_ _0\"></span>dei <span class=\"_ _23\"></span><span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _28\"></span>nette <span class=\"_ _28\"></span>acquisite<span class=\"lsb\">. <span class=\"_ _28\"></span></span>I <span class=\"_ _23\"></span>costi <span class=\"_ _28\"></span>accessori, <span class=\"_ _28\"></span>quali <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>consulenti, <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>aggregazion <span class=\"_ _28\"></span>aziendali <span class=\"_ _23\"></span>s<span class=\"_ _0\"></span>ono imputati a costo quando sostenuti<span class=\"lsb\">. </span> Le <span class=\"_ _0\"></span>successive <span class=\"_ _0\"></span>variazioni <span class=\"_ _22\"></span>delle partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>consolidate <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>comportano <span class=\"_ _0\"></span>un cambiamento del metodo di con<span class=\"_ _0\"></span>solidamento sono trattate come operazioni sul capitale proprio.<span class=\"_ _0\"></span> La <span class=\"_ _29\"></span>recuperabilit\u00e0 <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore di <span class=\"_ _2b\"></span>iscrizion<span class=\"_ _0\"></span>e <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>verificata annualmente <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>comunque <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>si verificano eventi <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>facciano <span class=\"_ _2b\"></span>presupporre <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>eventuali <span class=\"_ _2b\"></span>svalutazioni <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>oggetto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>ripristini di valore. 2.7.3.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Altre attivit\u00e0 immateriali a<span class=\"_ _0\"></span> vita utile definita Riguardano <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ive <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>consistenza <span class=\"_ _22\"></span>fisica, <span class=\"_ _23\"></span>identificabili, <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>dall\u2019impresa <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>grado <span class=\"_ _23\"></span>di produrre benefici economici futuri.<span class=\"_ _0\"></span> Le attivit\u00e0 <span class=\"_ _0\"></span>immateriali sono <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>inizialmente e rispettivamente<span class=\"_ _0\"></span> al <span class=\"_ _0\"></span>costo e <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> comprensivi degli oneri di <span class=\"_ _0\"></span>diretta attribuzione. <span class=\"_ _0\"></span>Esse sono po<span class=\"_ _0\"></span>i ammortizzate sistematicamente <span class=\"_ _0\"></span>lungo la lo<span class=\"_ _0\"></span>ro vita utile intesa<span class=\"_ _0\"></span> come la <span class=\"_ _22\"></span>stima del <span class=\"_ _0\"></span>perio<span class=\"_ _0\"></span>do <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo, <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>genere <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un arco <span class=\"_ _22\"></span>temporale <span class=\"_ _0\"></span>fra <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>3 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>10 <span class=\"_ _0\"></span>anni. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>lo<span class=\"_ _0\"></span>ro valore <span class=\"_ _0\"></span>residuo<span class=\"_ _0\"></span> al termine della vita utile \u00e8 ipotizzato uguale a zero.<span class=\"_ _0\"></span> La vita utile viene riesaminata annualmente e, se necessario, le aspe<span class=\"_ _0\"></span>ttative future vengono adeguate.<span class=\"_ _0\"></span> Dette attivit\u00e0 <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>inoltre <span class=\"_ _0\"></span>espresse <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>svalutazion<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>riduzioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>adottando <span class=\"_ _0\"></span>i medesimi criteri indicati per la voce \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Immobili, impianti e macchinari<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d.</span><span class=\"ff56\"> </span>2.7.4.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Partecipazioni </span></span>2.7.4.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 collegate e a controllo <span class=\"_ _0\"></span>congiunto Per societ\u00e0 <span class=\"_ _2b\"></span>collegate si <span class=\"_ _29\"></span>intendono le<span class=\"_ _29\"></span> societ\u00e0 <span class=\"_ _2b\"></span>su cui <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>Gruppo esercita <span class=\"_ _2b\"></span>un\u2019influenza notevole. <span class=\"_ _29\"></span>L\u2019influenza notevole \u00e8 <span class=\"_ _0\"></span>il potere <span class=\"_ _0\"></span>di partecipare <span class=\"_ _0\"></span>alla determina<span class=\"_ _0\"></span>zione delle <span class=\"_ _0\"></span>politiche fin<span class=\"_ _0\"></span>anziarie e <span class=\"_ _0\"></span>gestionali della <span class=\"_ _0\"></span>partecipata senza averne <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span>trollo o <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span><span class=\"ff5d\">trollo <span class=\"_ _0\"></span>congiunto. Si <span class=\"_ _0\"></span>presume l\u2019esistenza <span class=\"_ _0\"></span>di in<span class=\"_ _0\"></span>fluenza notevole <span class=\"_ _0\"></span>nel caso <span class=\"_ _0\"></span>in cui<span class=\"_ _0\"></span> </span>il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>possegga <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>percentuale <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>diritti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>voto <span class=\"_ _0\"></span>compresa <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>20% <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>50% <span class=\"_ _0\"></span>(esclusi <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>casi <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>vi <span class=\"_ _0\"></span>sia controllo congiunto). Una <span class=\"_ _22\"></span><span class=\"ff5a\">joint <span class=\"_ _0\"></span>ventu<span class=\"_ _0\"></span>re</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>acc<span class=\"_ _0\"></span>ordo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>parti <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>han<span class=\"_ _0\"></span>no <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>trollo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>dell'accordo hanno diritti sulle attivit\u00e0 nette dell'accordo stesso. Il controllo congiunto \u00e8 la condivisione del controllo di un accordo <span class=\"_ _22\"></span>concordata <span class=\"_ _22\"></span>contrattualmente, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>esiste <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>quando <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>decisioni <span class=\"_ _22\"></span>sulle<span class=\"_ _22\"></span> <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>rilevanti <span class=\"_ _22\"></span>richiedono <span class=\"_ _22\"></span>il consenso unanime delle parti che condi<span class=\"_ _0\"></span>vidono il controllo.<span class=\"_ _0\"></span> In <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>metodo <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>netto, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>collegate <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto (c.d. <span class=\"_ _29\"></span>in <span class=\"ff5a\">joint <span class=\"_ _2b\"></span>venture)<span class=\"ff56\"> sono <span class=\"_ _29\"></span>incluse <span class=\"_ _2b\"></span>nel bilancio consolidato <span class=\"_ _2b\"></span>al costo <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione, <span class=\"_ _2b\"></span>rettificato per <span class=\"_ _29\"></span>le <span class=\"_ _29\"></span>variazioni </span></span>della <span class=\"_ _29\"></span>quota <span class=\"_ _2b\"></span>del Gruppo <span class=\"_ _2b\"></span>nell'utile o <span class=\"_ _2b\"></span>nella pe<span class=\"_ _29\"></span>rdita <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>nelle altre <span class=\"_ _2b\"></span>componenti di <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico <span class=\"_ _29\"></span>complessivo <span class=\"_ _29\"></span>della joint <span class=\"_ _23\"></span>venture<span class=\"ff56\"> <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _22\"></span>collegata <span class=\"_ _23\"></span>dopo <span class=\"_ _23\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _22\"></span>Le <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un<span class=\"_ _22\"></span><span class=\"ls3\">a <span class=\"_ _23\"></span></span></span>joint <span class=\"_ _22\"></span>venture<span class=\"ff56\"> <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>un<span class=\"_ _0\"></span>a </span>societ\u00e0 <span class=\"_ _28\"></span>colle<span class=\"_ _0\"></span>gata <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>eccedono<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>quota <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>partecip<span class=\"_ _0\"></span>azione <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>tale <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _28\"></span>vengono <span class=\"_ _2c\"></span>rilevate. Vengono <span class=\"_ _2d\"> </span>rilevate <span class=\"_ _2d\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ha <span class=\"_ _2d\"> </span>assunto <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2d\"> </span>legali <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>fatto <span class=\"_ _2d\"> </span>ad <span class=\"_ _2d\"> </span>assumere <span class=\"_ _2d\"> </span>per<span class=\"_ _0\"></span>dite <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>effettua pagamenti al posto de<span class=\"_ _0\"></span>lla <span class=\"ff5a\">joint venture</span> o della societ\u00e0 collegata. 2.7.4.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 controllate Le <span class=\"_ _23\"></span>quote <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>partecipazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>consolidate <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>costo <span class=\"_ _23\"></span>rettificato <span class=\"_ _23\"></span>per perdite <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>valore.<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Se <span class=\"_ _2d\"> </span>il <span class=\"_\"> </span>Gruppo <span class=\"_ _2a\"> </span>perde <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>controllo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>una <span class=\"_\"> </span>contr<span class=\"_ _29\"></span>ollat<span class=\"_ _0\"></span>a, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>partecipazion<span class=\"_ _0\"></span>e <span class=\"_ _2a\"> </span>residua <span class=\"_ _2d\"> </span>nella <span class=\"_\"> </span>ex controllata \u00e8 valutata al <span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> al momento della perdita del controllo<span class=\"_ _0\"></span>. 2.7.4.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>altre imprese Le <span class=\"_ _2e\"> </span>partecipazion<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>minoranza <span class=\"_ _2e\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _2e\"> </span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>data <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>acquisizione <span class=\"_ _2f\"> </span>in <span class=\"_ _2e\"> </span>base <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>loro <span class=\"_ _2f\"> </span>quota proporzionale delle attivit\u00e0 <span class=\"_ _2b\"></span>nette identificabili della societ\u00e0 <span class=\"_ _29\"></span>acquisita. Considerando che <span class=\"_ _2b\"></span>non hanno un <span class=\"_ _29\"></span>impatto significativo sul patrimonio netto, su<span class=\"_ _0\"></span>i risultati finanziari e sui risultati operativi d<span class=\"_ _0\"></span>el Gruppo<span class=\"_ _0\"></span> tali partecipazio<span class=\"_ _0\"></span>ni sono <span class=\"_ _23\"></span>misurate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span></span>rilevato <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>altre <span class=\"_ _23\"></span>componenti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>economico <span class=\"_ _23\"></span>complessivo <span class=\"_ _23\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"_ _0\"></span> <span class=\"_ _23\"></span></span><span class=\"ls6\">e </span>sono soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span><span class=\"ff5a\">im<span class=\"_ _0\"></span>pairment<span class=\"ff56\"> ai <span class=\"_ _2b\"></span>sensi IFRS <span class=\"_ _2b\"></span>9 (ad eccezione <span class=\"_ _2b\"></span>di quelle <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>cui il <span class=\"_ _29\"></span>Gruppo si <span class=\"_ _2b\"></span>\u00e8 avvalso <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ella </span></span>c.d. \u201c<span class=\"ff5a\">OCI <span class=\"_ _2b\"></span>Ele<span class=\"_ _0\"></span>ction<span class=\"ff5d ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\">In <span class=\"_ _29\"></span>assenza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> elementi <span class=\"_ _2b\"></span>id<span class=\"_ _0\"></span>onei ad <span class=\"_ _2b\"></span>identificare <span class=\"ls9\">il </span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value, i<span class=\"ff56\"> loro <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> possono <span class=\"_ _2b\"></span>essere </span></span></span></span></span></span></span></span>approssimati dai costi di acquisizione. <span class=\"_ _0\"></span> 2.7.5.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 e passivit\u00e0 finanziarie </span></span>Iscrizione e misurazione iniziale<span class=\"ff56\"> </span>Un'attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>(a <span class=\"_ _23\"></span>meno <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>tratti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>credito <span class=\"_ _28\"></span>commerciale <span class=\"_ _23\"></span>senza <span class=\"_ _28\"></span>una <span class=\"_ _23\"></span>compo<span class=\"_ _0\"></span>nente <span class=\"_ _23\"></span>di<span class=\"_ _22\"></span> finanziamento <span class=\"_ _2a\"> </span>significativa) <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>una <span class=\"_ _2d\"> </span>passivit\u00e0 <span class=\"_\"> </span>finanziaria <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>izialmente <span class=\"_ _2a\"> </span>valutata <span class=\"_ _2d\"> </span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pi<span class=\"_ _0\"></span>\u00f9, <span class=\"_ _2a\"> </span>per <span class=\"_ _2d\"> </span>un elemento non a <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value through profit <span class=\"_ _29\"></span>&amp; loss<span class=\"ff56\"> <span class=\"ff5d ls16\">(\u201c</span>FVTPL<span class=\"ff5d ls3\">\u201d)</span>, i <span class=\"_ _29\"></span>costi di transazione <span class=\"_ _29\"></span>direttamente attribuibili alla </span></span>sua acquisizione o emissione. <span class=\"_ _0\"></span> Le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>possono <span class=\"_ _2d\"> </span>essere <span class=\"_ _2c\"></span>costituita<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>disponibilit\u00e0 <span class=\"_ _2c\"> </span>liquide <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>equivalenti, investimenti, crediti commerciali e strumenti finanziari d<span class=\"_ _0\"></span>erivati con <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> positivo.  Le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>comprendono <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>derivant<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dall'emissione <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>un'obbligazione debiti <span class=\"_ _23\"></span>verso <span class=\"_ _22\"></span>banche, <span class=\"_ _23\"></span>debiti <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>debiti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>leasing <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>derivati <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\"> negativi. </span>Le <span class=\"_ _23\"></span>disponibilit\u00e0 <span class=\"_ _23\"></span>liq<span class=\"_ _0\"></span>uide <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>mezzi <span class=\"_ _23\"></span>equivalenti <span class=\"_ _23\"></span>comprendo<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _23\"></span>bancari <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>tit<span class=\"_ _0\"></span>oli <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>br<span class=\"_ _0\"></span>eve termine con<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>scadenza orig<span class=\"_ _0\"></span>inaria in<span class=\"_ _0\"></span>feriore <span class=\"_ _0\"></span>a tre <span class=\"_ _0\"></span>mesi <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>irrilevante di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>variazioni di<span class=\"_ _0\"></span> valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>e sono<span class=\"_ _0\"></span> valutati <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>nominale. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _28\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertiti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di chiusura del bilanci<span class=\"ls1\">o.</span> Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>altre <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _0\"></span>rilevate <span class=\"_ _23\"></span>inizialmente <span class=\"_ _22\"></span>quando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>diventa <span class=\"_ _22\"></span>parte delle disposizioni contrattuali dello strumento. <span class=\"_ _0\"></span> Classificazione e misurazione successiv<span class=\"_ _0\"></span>a<span class=\"ff56\"> </span>Le attivit\u00e0 e passivit\u00e0 finanziarie sono <span class=\"_ _0\"></span>classificate in tre diverse categorie: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutati al <span class=\"ff5a\">fair value</span> con impatto<span class=\"_ _0\"></span> a conto economico <span class=\"ff5d\">(\u201cFVTPL\u201d)<span class=\"_ _0\"></span></span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _2b\"></span>valutate <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>impatto <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2b\"></span>complessiva <span class=\"_ _29\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"ff56\">; </span></span></span></span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutate al costo ammortizzato <span class=\"ff5d\">(\u201c<span class=\"_ _0\"></span>CA\u201d)</span>. Strumenti finanziari valutati al fair value con impatto a <span class=\"_ _0\"></span>conto economico<span class=\"_ _0\"></span> Le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _2c\"> </span>finanziarie <span class=\"_ _2c\"> </span>acqui<span class=\"_ _0\"></span>site <span class=\"_ _28\"></span>o <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _28\"></span>con <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>fine <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"></span>vendita <span class=\"_ _2c\"></span>sono classificate come \u201cattivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span><span class=\"ff56\">finanziarie al <span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> </span>rilevato a conto economico\u201d.<span class=\"ff56\"> </span>Un\u2019attivit\u00e0 <span class=\"_ _2b\"></span>finanziaria <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>derivata pu\u00f2 <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>designata <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>qualora tale <span class=\"_ _2b\"></span>designazione <span class=\"_ _2b\"></span>consenta </span></span>di <span class=\"_ _22\"></span>evitare <span class=\"_ _23\"></span><span class=\"ff5a\">accounting <span class=\"_ _22\"></span>mismatch<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>valutazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>associate <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>criteri valutativi diversi. Le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, analogamente alle <span class=\"_ _2b\"></span>attivit\u00e0 finanziarie, possono <span class=\"_ _29\"></span>essere <span class=\"_ _2b\"></span>desi<span class=\"_ _0\"></span>gnate, coerentemente a quanto <span class=\"_ _0\"></span>disposto da <span class=\"_ _0\"></span>IFRS 9, <span class=\"_ _0\"></span>al momento <span class=\"_ _0\"></span>della rilevazione <span class=\"_ _0\"></span>iniziale, come <span class=\"_ _0\"></span>passivit\u00e0 finanziarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\">, purch\u00e9: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>tale <span class=\"_ _28\"></span>designazione <span class=\"_ _2c\"></span>elimini <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>riduca <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>tevolmente <span class=\"_ _28\"></span>una <span class=\"_ _2c\"></span>discordanza <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>altrimenti <span class=\"_ _28\"></span>risulterebb<span class=\"_ _0\"></span>e dalla valutazione su basi diverse di attivit\u00e0<span class=\"_ _0\"></span> o passivit\u00e0 e dei relativi utili e perd<span class=\"_ _0\"></span>ite; ovvero -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie, <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>entrambe <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>ge<span class=\"_ _0\"></span>stito <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>valutato <span class=\"_ _22\"></span>al fair <span class=\"_\"> </span>value<span class=\"ff56\"> <span class=\"_\"> </span>secondo <span class=\"_\"> </span>una <span class=\"_\"> </span>gestione <span class=\"_\"> </span>del <span class=\"_\"> </span>rischio <span class=\"_\"> </span>o <span class=\"_\"> </span>una <span class=\"_\"> </span>strategia <span class=\"_\"> </span>di <span class=\"_\"> </span>investimento <span class=\"_\"> </span>documentata </span>internamente agli Organi Amministrativi <span class=\"_ _0\"></span>delle entit\u00e0. Un\u2019attivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>classificata <span class=\"_ _0\"></span>fra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>finanziarie<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _0\"></span>ob<span class=\"_ _0\"></span>bligatoriamente <span class=\"_ _0\"></span>valutate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value<span class=\"_ _0\"></span></span> </span>qualora la <span class=\"_ _29\"></span>stessa <span class=\"_ _29\"></span>non soddisfi le <span class=\"_ _2b\"></span>condizion<span class=\"_ _0\"></span>i, in <span class=\"_ _29\"></span>termini di <span class=\"ff5a\">business <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>el<span class=\"ff56\"> o <span class=\"_ _29\"></span>di caratteristiche <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ei flussi di <span class=\"_ _2b\"></span>cassa,<span class=\"_ _0\"></span> </span></span>per la valutazione al costo ammortizzato o al <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> con impatto sulla red<span class=\"_ _0\"></span>ditivit\u00e0 complessiv<span class=\"ls3\">a.</span> In particolare sono classificati in questo portafoglio<span class=\"_ _0\"></span>: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>debito, <span class=\"_ _23\"></span>titoli <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>finanziame<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>cui <span class=\"_ _28\"></span><span class=\"ff5a\">business <span class=\"_ _28\"></span>model</span> <span class=\"_ _23\"></span>n<span class=\"_ _0\"></span>on <span class=\"_ _28\"></span>risulta <span class=\"_ _23\"></span>essere <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span><span class=\"ff5a\">held<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>to </span>collect<span class=\"ff56\"> n\u00e9 </span>held to collect and sell<span class=\"ff56\"> <span class=\"_ _0\"></span>ma che non appartengono al portafoglio di negoziazione;<span class=\"_ _0\"></span> </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>debito, <span class=\"_ _22\"></span>titoli <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>finanziamenti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>solamente <span class=\"_ _22\"></span>la corresponsione di capitale e interessi; <span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>quote di OICR; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>capitale <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>detenuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>finalit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>quali <span class=\"_ _28\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>applica l\u2019opzione <span class=\"_ _22\"></span>conc<span class=\"ff56\">essa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>impatto<span class=\"_ _0\"></span> </span>sulla redditivit\u00e0 complessiva. Attivit\u00e0 finanziarie valutate al fair value con impatto sulla redd<span class=\"_ _0\"></span>itivit\u00e0 complessiva<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>classificata <span class=\"_ _23\"></span>fra <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span><span class=\"ff56\">anziarie <span class=\"_ _23\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>impatto <span class=\"_ _28\"></span>sulla </span>redditivit\u00e0 complessiva qualora: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _23\"></span><span class=\"ff5a\">business <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>el</span></span></span> <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>perseguito <span class=\"_ _23\"></span>mediante <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>raccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"></span>finanziari contrattuali sia la vendita delle attivit\u00e0 finanziarie <span class=\"_ _0\"></span><span class=\"ff5e\">(\u201cheld<span class=\"ff5a\">-<span class=\"ls9\">to</span>-collect and<span class=\"_ _0\"></span> </span>sell\u201d)</span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresponsione di capitale e interessi.<span class=\"_ _0\"></span> Inoltre <span class=\"_\"> </span>sono <span class=\"_\"> </span>classificati <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>questa <span class=\"_\"> </span>cate<span class=\"_ _29\"></span>goria, <span class=\"_\"> </span>gli <span class=\"_\"> </span>strumenti <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>capitale <span class=\"_ _2a\"> </span>non <span class=\"_\"> </span>detenuti <span class=\"_\"> </span>per <span class=\"_ _2a\"> </span>finalit\u00e0 <span class=\"_\"> </span>di negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _22\"></span><span class=\"ff5d\">applica <span class=\"_ _22\"></span>l\u2019opzione <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>concessa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>esti </span>strumenti al <span class=\"ff5a\">fair value</span> con impatto sulla reddi<span class=\"_ _0\"></span>tivit\u00e0 complessiva. Strumenti finanziari valutate al costo ammortizzato<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 finanziaria \u00e8 classificata fra le attivit\u00e0 fin<span class=\"_ _0\"></span>a<span class=\"ff56\">nziarie valutate al costo ammortizzato q<span class=\"_ _0\"></span>ualora: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _22\"></span><span class=\"ff5a\">business <span class=\"_ _23\"></span>model</span></span></span> <span class=\"_ _22\"></span>sia <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>possesso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finalizzato <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>ra<span class=\"_ _0\"></span>ccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi finanziari contrattuali (<span class=\"ff5e\">\u201cheld<span class=\"_ _0\"></span><span class=\"ff5a\">- <span class=\"ls9\">to</span>-</span>collect\u201d</span><span class=\"ls7\">); </span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresp<span class=\"_ _0\"></span>onsione di capitale e interessi. Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>valutate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>ammortizzato <span class=\"_ _23\"></span>comprendono <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>(diversi dalle <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>negoziazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>da <span class=\"_ _2c\"></span>quelle <span class=\"_ _2c\"> </span>desig<span class=\"_ _0\"></span>nate <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>) <span class=\"_ _28\"></span>rapp<span class=\"_ _0\"></span>resentativi <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>diverse <span class=\"_ _2c\"></span>forme <span class=\"_ _2c\"> </span>di provvista di fondi da terzi. Misurazione del fair value Il <span class=\"ff5a ls0\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">delle <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e delle <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span></span>fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 <span class=\"_ _0\"></span>determinato al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>loro </span></span>rilevazione iniziale per mezzo del prezzo d<span class=\"_ _0\"></span>i transazione, pari quindi al corrispettivo pag<span class=\"_ _0\"></span>ato o ricevuto<span class=\"_ _0\"></span>. Successivamente, e <span class=\"_ _2b\"></span>ad ogni <span class=\"_ _2b\"></span>data di <span class=\"_ _2b\"></span>bilancio, il <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>degli strumenti <span class=\"_ _2b\"></span>finanziari quotati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un mercato </span></span>attivo <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>basa <span class=\"_ _0\"></span>sui <span class=\"_ _22\"></span>prezzi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. <span class=\"_ _0\"></span>I <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>utilizzati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>derivati <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span><span class=\"ff5a\">bid price</span>, <span class=\"_ _22\"></span>mentre <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>le passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>gli<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5a\">ask <span class=\"_ _22\"></span>price</span>. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>e</span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>strumenti <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>quotati <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>attivo <span class=\"_ _0\"></span>\u00e8 determinato <span class=\"_ _2b\"></span>utilizzando tecniche <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valutazione, <span class=\"_ _29\"></span>basate <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>serie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>metodi <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>as<span class=\"_ _0\"></span>sunzioni <span class=\"_ _2b\"></span>legate a <span class=\"_ _2b\"></span>condizioni di mercato alla data di bilancio.  Il <span class=\"_ _2b\"></span><span class=\"ff5a ls0\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>degli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>quotati <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>determinato <span class=\"_ _29\"></span>scontando <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>flussi <span class=\"_ _29\"></span>finanziari </span></span>futuri per mezzo del tasso di interesse di mercato alla d<span class=\"_ _0\"></span>ata di riferimento del bilancio.<span class=\"_ _0\"></span> Determinazione della perdita di valore (impairment)<span class=\"_ _0\"></span> Tutte <span class=\"_ _2b\"></span>le attivit\u00e0 <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, <span class=\"_ _2b\"></span>ad eccezione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span><span class=\"ff5e\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>e passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>fair <span class=\"_ _29\"></span>value </span>rilevato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>conto economico\u201d, <span class=\"_ _2b\"></span><span class=\"ff56\">son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>riduzione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>valore conformemente <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>definito </span>dall\u2019IFRS 9 e quindi considerando anche gli effett<span class=\"_ _0\"></span><span class=\"ff56\">i delle <span class=\"ff5a\">expected losses</span>. <span class=\"_ _0\"></span> </span>Una <span class=\"_ _2b\"></span>perdita <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un\u2019attivit\u00e0 <span class=\"_ _29\"></span>finanziaria <span class=\"_ _2b\"></span>valutata <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>costo <span class=\"_ _2b\"></span>ammortizzato <span class=\"_ _2b\"></span>corr<span class=\"_ _0\"></span>isponde <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenza fra <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _2c\"></span>contabile <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>il <span class=\"_ _2c\"></span>valore <span class=\"_ _28\"></span>attuale <span class=\"_ _28\"></span>dei <span class=\"_ _2c\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>stimati <span class=\"_ _2c\"></span>attesi <span class=\"_ _28\"></span>attualizzati <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>interesse effett<span class=\"ff5d\">ivo <span class=\"_ _2c\"> </span>originale. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>perdita <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>un\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>finanziaria <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span></span> <span class=\"_ _2c\"></span>rilevato <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"> </span>econo<span class=\"_ _0\"></span>mico complessivo \u00e8 calcolata sulla base del <span class=\"ff5a\">fair val<span class=\"_ _0\"></span>ue</span> di detta attivit\u00e0. Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>rilevate <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>conto <span class=\"_ _22\"></span>economico<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>quelle <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>strumenti finanziari di <span class=\"ff5a\">equity <span class=\"ff5d\">per cui il Gruppo si \u00e8 <span class=\"_ _29\"></span>avvalso dell\u2019opzione di classificarlo a <span class=\"ff5a\">fair value <span class=\"ff56\">con impatto a conto </span></span></span></span>economico complessivo (c.d. \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">OCI Election</span><span class=\"ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span></span>Le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2a\"> </span>ripristinate <span class=\"_ _2d\"> </span>se <span class=\"_\"> </span>il <span class=\"_ _2d\"> </span>s<span class=\"_ _0\"></span>uccessivo <span class=\"_ _2a\"> </span>incremento <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>valore <span class=\"_ _2a\"> </span>pu\u00f2 <span class=\"_\"> </span>essere <span class=\"_ _2d\"> </span>og<span class=\"_ _0\"></span>gettivamente collegato <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>evento <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>verificato <span class=\"_ _22\"></span>successivamente <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>riduzion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dello <span class=\"_ _0\"></span>stesso. <span class=\"_ _22\"></span>Nel <span class=\"_ _22\"></span>caso <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 valutate <span class=\"_ _2f\"> </span>al <span class=\"_ _2f\"> </span>costo <span class=\"_ _2f\"> </span>ammortizzato <span class=\"_ _2f\"> </span>e <span class=\"_ _2f\"> </span>delle <span class=\"_ _2f\"> </span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _2f\"> </span>value</span> <span class=\"_ _2f\"> </span>rilevato <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _41\"> </span>economico <span class=\"_ _2f\"> </span>complessivo corrispondenti a titoli di debito<span class=\"_ _0\"></span>, il ripristino \u00e8 rilevato a conto economico.<span class=\"_ _0\"></span> Cancellazione (Derecognition)  Il <span class=\"_ _8b\"> </span>Gruppo <span class=\"_ _2e\"> </span>elimina <span class=\"_ _2e\"> </span>un'attivit\u00e0 <span class=\"_ _8b\"> </span>finanziaria <span class=\"_ _2e\"> </span>quando <span class=\"_ _2e\"> </span>scadono <span class=\"_ _2e\"> </span>i <span class=\"_ _8b\"> </span>diritti <span class=\"_ _2e\"> </span>contrattuali <span class=\"_ _2e\"> </span>sui <span class=\"_ _8b\"> </span>flussi <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>c<span class=\"_ _22\"></span>assa dell'attivit\u00e0 <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>pure <span class=\"_ _0\"></span>trasferisce <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>diritti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>ricevere <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>contrattuali <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span>transazione <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> cui <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>trasferiti <span class=\"_ _22\"></span>sostanzialmente <span class=\"_ _23\"></span>tutti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _23\"></span>dell'attivit\u00e0 <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>il Gruppo non <span class=\"_ _0\"></span>trasferisce n\u00e9 mantiene sost<span class=\"_ _0\"></span>anzialmente tutti <span class=\"_ _0\"></span>i rischi e <span class=\"_ _0\"></span>i benefi<span class=\"_ _0\"></span>ci <span class=\"_ _0\"></span>della propriet\u00e0 e <span class=\"_ _0\"></span>non mantiene <span class=\"_ _0\"></span>il controllo dell'attivit\u00e0 finanziaria. Il Gruppo cancella <span class=\"_ _29\"></span>una passivit\u00e0 finanziaria quando i suoi <span class=\"_ _29\"></span>obblighi contrattuali sono estinti <span class=\"_ _29\"></span>o cancellati, o <span class=\"_ _23\"></span>scadono. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _23\"></span>elimina <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quand<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>suoi<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>termini <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>modificati <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i flussi <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>modificata <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>sostanzialmente <span class=\"_ _2d\"> </span>diversi, <span class=\"_ _2c\"></span>nel <span class=\"_ _2d\"> </span>qual <span class=\"_ _28\"></span>caso <span class=\"_ _2d\"> </span>una <span class=\"_ _2c\"></span>nuova <span class=\"_ _2c\"></span>passivit\u00e0 finanziaria <span class=\"_ _28\"></span>basata <span class=\"_ _23\"></span>sui <span class=\"_ _28\"></span>termi<span class=\"_ _0\"></span>ni <span class=\"_ _28\"></span>modificati <span class=\"_ _23\"></span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span>. <span class=\"_ _28\"></span>I <span class=\"_ _28\"></span>termini <span class=\"_ _23\"></span>contrattuali <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>considerati sostanzialmente <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>presenza <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>determinate <span class=\"_ _2b\"></span>car<span class=\"_ _0\"></span>atteristiche <span class=\"_ _2b\"></span>qualitative <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>attualizzato <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _23\"></span>differisce <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>almeno <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>10% <span class=\"_ _22\"></span>dal <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>attualizzato <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>restanti <span class=\"_ _22\"></span>flussi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>passivit\u00e0 finanziaria originale secondo <span class=\"_ _0\"></span>i nuovi termini. Al momento <span class=\"_ _0\"></span>dell'eliminazion<span class=\"_ _0\"></span>e di <span class=\"_ _0\"></span>una passivi<span class=\"_ _0\"></span>t\u00e0 finanziaria, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>differenza <span class=\"_ _0\"></span>tra il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _0\"></span>estinto e il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>(incluse <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>liquide <span class=\"_ _23\"></span>trasferite <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>assunte) <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rilevata <span class=\"_ _23\"></span>nel conto economico. Compensazione tra attivit\u00e0 e passivit\u00e0 f<span class=\"_ _0\"></span>inanziarie<span class=\"ff56\"> </span>Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>compensate <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>presentato <span class=\"_ _23\"></span><span class=\"ff5d\">l\u2019importo <span class=\"_ _22\"></span>netto</span> <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>prospetto della <span class=\"_ _2b\"></span>situazione patrimoniale-finanziaria <span class=\"_ _2b\"></span>quando, e <span class=\"_ _2b\"></span>solo <span class=\"_ _2b\"></span>quando, <span class=\"_ _2b\"></span>il Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>diritto <span class=\"_ _2b\"></span>legalmente esercitabile a <span class=\"_ _2d\"> </span>compensare <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>impo<span class=\"_ _0\"></span>rti <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>intende <span class=\"_ _2d\"> </span>liqui<span class=\"_ _0\"></span>darli <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>netta <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>realizzare <span class=\"_ _2d\"> </span>l'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>liquidare <span class=\"_ _2d\"> </span>la<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>passivit\u00e0 contemporaneamente. 2.7.6.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Strumenti finanziari derivati </span></span>Il Gruppo util<span class=\"_ _29\"></span>izza una <span class=\"_ _29\"></span>serie di <span class=\"_ _29\"></span>strumenti finanziari <span class=\"_ _29\"></span>derivati per gestire <span class=\"_ _29\"></span>la <span class=\"_ _29\"></span>propria<span class=\"_ _0\"></span> esposizione al <span class=\"_ _29\"></span>rischio di tasso di interesse e <span class=\"_ _29\"></span>di cambio. Tali strumenti comprendono operazioni di <span class=\"_ _29\"></span>cambio a termine, swa<span class=\"_ _29\"></span>p su valute, swap su valute incrociate, swap su tassi d'<span class=\"_ _0\"></span>interesse e cap su tassi d'interesse. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>i<span class=\"_ _0\"></span>nizialmente <span class=\"_ _28\"></span>iscritti <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>stipula <span class=\"_ _28\"></span>del contratto. Il <span class=\"ff5a\">fair value</span> viene adeguato a ogni successiva data di bilancio. Qualsiasi utile o perdit<span class=\"_ _0\"></span>a derivante da una variazione del <span class=\"ff5a\">fair value</span> di uno strumento finanziario derivato che non fa parte di una copertura dei flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>investimento <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>estero <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>efficace, viene <span class=\"_ _2b\"></span>rilevato nel <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>gli <span class=\"_ _2b\"></span>strumenti finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>una <span class=\"_ _2b\"></span>relazione di <span class=\"_ _2b\"></span>copertura, il momento della rilevazio<span class=\"_ _0\"></span>ne degli utili o <span class=\"_ _0\"></span>delle perdite dipende <span class=\"_ _0\"></span>dalla natura della copertura. <span class=\"_ _0\"></span>Il Gruppo <span class=\"_ _0\"></span>utilizza alcuni <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>coprire <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _28\"></span>riconosciute. <span class=\"_ _28\"></span>Inoltre, <span class=\"_ _2c\"></span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hedge <span class=\"_ _28\"></span>accou<span class=\"_ _0\"></span>nting</span> viene <span class=\"_ _0\"></span>applicato <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>alcuni <span class=\"_ _22\"></span>impegni <span class=\"_ _0\"></span>irrevo<span class=\"_ _0\"></span>cabili <span class=\"_ _22\"></span><span class=\"ff5a\">off <span class=\"_ _0\"></span>bala<span class=\"_ _0\"></span>nce</span>. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>operazioni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>camb<span class=\"_ _0\"></span>io <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutate voce per voce <span class=\"_ _29\"></span>al tasso a <span class=\"_ _29\"></span>termine della data di <span class=\"_ _29\"></span>bilancio e le <span class=\"_ _29\"></span>differenze di cam<span class=\"_ _29\"></span>bio derivanti dal tasso <span class=\"_ _29\"></span>di cambio a termine contrattato sono incluse nel conto econ<span class=\"_ _0\"></span>omico.  Gli importi de<span class=\"_ _29\"></span>i contratti di <span class=\"_ _29\"></span>swap su <span class=\"_ _29\"></span>tassi d'interesse <span class=\"_ _29\"></span>sono contabilizzati nel <span class=\"_ _29\"></span>conto economico al<span class=\"_ _29\"></span>la data di pagamento o <span class=\"_ _0\"></span>alla data<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>bilancio. In<span class=\"_ _0\"></span>oltre, i con<span class=\"_ _0\"></span>tratti di <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e swap <span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e cap <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti al loro <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>alla data <span class=\"_ _2b\"></span>di chiusura <span class=\"_ _2b\"></span>del bilancio <span class=\"_ _2b\"></span>e le <span class=\"_ _2b\"></span>variazioni del <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>sono rilevate <span class=\"_ _2b\"></span>nel conto <span class=\"_ _2b\"></span>economico </span></span></span></span>dell'esercizio in corso, a condizione che non si app<span class=\"_ _0\"></span>lichi l'hedge accounting.<span class=\"_ _0\"></span> Gli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>relazione <span class=\"_ _3d\"></span>di <span class=\"_ _2b\"></span>copertura <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>classificati <span class=\"_ _2b\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 o passivit\u00e0 finanziarie correnti.<span class=\"_ _0\"></span> Operazioni di copertura Il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>avvale <span class=\"_ _2b\"></span>dell'opzione <span class=\"_ _2b\"></span>prevista <span class=\"_ _29\"></span>dall'IFRS <span class=\"_ _2b\"></span>9 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>contin<span class=\"_ _0\"></span>uare <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>contabilizzazione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>operazioni di copertura in base ai requisiti dello IAS 39.<span class=\"_ _0\"></span>  A <span class=\"_ _22\"></span>seconda <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>volume, <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>strut<span class=\"_ _0\"></span>tura <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>rischio, <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>designa <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>strumenti finanziari derivati come coperture di flussi di cassa o<span class=\"_ _0\"></span> coperture di un investimento netto <span class=\"_ _0\"></span>estero.<span class=\"_ _0\"></span> Quando <span class=\"_ _2d\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2a\"> </span>finanziari <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>caratteristiche <span class=\"_ _2a\"> </span>richieste <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hed<span class=\"_ _0\"></span>ge <span class=\"_ _2d\"> </span>accou<span class=\"_ _0\"></span>nting</span>, <span class=\"_ _2d\"> </span>vengo<span class=\"_ _0\"></span>no applicati i seguenti trattamenti contabili:<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>Fair <span class=\"_ _49\"> </span>value <span class=\"_ _49\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _49\"> </span>se <span class=\"_ _49\"> </span>un<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>strumento <span class=\"_ _49\"> </span>finanziario <span class=\"_ _46\"> </span>derivato <span class=\"_ _49\"> </span>\u00e8 <span class=\"_ _49\"> </span>designato <span class=\"_ _49\"> </span>come <span class=\"_ _49\"> </span>copertura </span>dell'esposizione <span class=\"_ _23\"></span>alle <span class=\"_ _23\"></span>variazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un'attivit\u00e0 <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>attribuibile <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>un particolare <span class=\"_ _2c\"> </span>rischio<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>pu\u00f2 <span class=\"_ _2c\"> </span>in<span class=\"_ _0\"></span>fluire <span class=\"_ _2d\"> </span>sul <span class=\"_ _2c\"></span>conto <span class=\"_ _2d\"> </span>economico, <span class=\"_ _2c\"></span>l'utile <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"></span>la <span class=\"_ _2d\"> </span>perdita <span class=\"_ _2c\"></span>derivanti <span class=\"_ _2d\"> </span>dalle successive <span class=\"_ _2f\"> </span>variazioni <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span><span class=\"ff5a\">fair <span class=\"_ _41\"> </span>value</span> <span class=\"_ _2f\"> </span>dello <span class=\"_ _41\"> </span>strumento <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>copertura <span class=\"_ _41\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>con<span class=\"_ _0\"></span>to economico. <span class=\"_ _28\"></span>L'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>elemento <span class=\"_ _28\"></span>coperto, <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _28\"></span>attribuibile <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>cop<span class=\"_ _0\"></span>erto, modificano il valore contabile di tale elemento e <span class=\"_ _0\"></span>sono rilevati a conto<span class=\"_ _0\"></span> economico; \u25aa <span class=\"_ _30\"> </span>Cash <span class=\"_ _2d\"> </span>flow <span class=\"_ _2a\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _2d\"> </span>se <span class=\"_ _2a\"> </span>uno <span class=\"_ _2d\"> </span>strumento <span class=\"_ _2a\"> </span>finanziario <span class=\"_ _2d\"> </span>derivato <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>designato <span class=\"_ _2d\"> </span>come <span class=\"_ _2a\"> </span>copertura <span class=\"_ _2d\"> </span>delle </span>variazioni <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _23\"></span>futuri <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un'attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>un'o<span class=\"_ _0\"></span>perazione <span class=\"_ _23\"></span>attesa altamente probabile e che potrebbe produrre effetti sul conto economico, la parte eff<span class=\"_ _0\"></span>icace degli utili <span class=\"_\"> </span>o <span class=\"_\"> </span>delle <span class=\"_\"> </span>perdite <span class=\"_\"> </span>dello <span class=\"_\"> </span>strumento <span class=\"_\"> </span>finanziario <span class=\"_\"> </span>(variazione <span class=\"_\"> </span>del <span class=\"_ _8b\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span>) <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>rilevata <span class=\"_\"> </span>nel patrimonio <span class=\"_ _3c\"> </span>netto. <span class=\"_ _3c\"> </span>L'utile <span class=\"_ _41\"> </span>o <span class=\"_ _3c\"> </span>la <span class=\"_ _3c\"> </span>perdita <span class=\"_ _3c\"> </span>accumulati <span class=\"_ _3c\"> </span>sono <span class=\"_ _3c\"> </span>stornati <span class=\"_ _3c\"> </span>dal <span class=\"_ _41\"> </span>patri<span class=\"_ _0\"></span>monio <span class=\"_ _3c\"> </span>netto <span class=\"_ _3c\"> </span>e contabilizzati a conto <span class=\"_ _0\"></span>economico nello s<span class=\"_ _0\"></span>tesso periodo in<span class=\"_ _0\"></span> cui si <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>verificata l'operazion<span class=\"_ _0\"></span>e oggetto di copertura. La <span class=\"_ _23\"></span>relazione <span class=\"_ _22\"></span>tra <span class=\"_ _23\"></span>l'elemento <span class=\"_ _23\"></span>coperto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>lo <span class=\"_ _23\"></span>strumento <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _23\"></span>compresi <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>obiettivi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>gestione <span class=\"_ _23\"></span>del rischio <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>strategia <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>intraprendere <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>perazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>documentati <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>pertura.<span class=\"_ _0\"></span> Inoltre, <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>un'operazione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>corso <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>sua <span class=\"_ _23\"></span>durata, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>verifi<span class=\"_ _0\"></span>ca <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>documenta regolarmente <span class=\"_ _23\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>altament<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>efficace <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>termini <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>compensazione <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>variazioni <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> cassa <span class=\"_ _2d\"> </span>dell'elemento <span class=\"_ _2a\"> </span>coperto <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>dell'investimento <span class=\"_ _2d\"> </span>netto. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2d\"> </span>info<span class=\"_ _0\"></span>rmazioni <span class=\"_ _2d\"> </span>sui <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>qu<span class=\"_ _0\"></span>esti <span class=\"_ _2d\"> </span>strumenti<span class=\"_ _0\"></span> finanziari <span class=\"_ _2e\"> </span>derivati <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>fornite <span class=\"_ _2e\"> </span><span class=\"ff5d\">nella <span class=\"_ _2f\"> </span>Sezione <span class=\"_ _2e\"> </span>\u201cAltre <span class=\"_ _2f\"> </span>informazioni\u201d</span>; <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2f\"> </span>della <span class=\"_ _2e\"> </span>riserva <span class=\"_ _2f\"> </span>per <span class=\"_ _2e\"> </span>gli adeguamenti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _28\"></span>all'interno <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>altre <span class=\"_ _28\"></span>componenti <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>economico complessivo possono essere ricavate dal prospetto <span class=\"_ _0\"></span>delle variazioni del patrimonio netto.<span class=\"_ _0\"></span> La <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>efficace <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>variazione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>derivati <span class=\"_ _2d\"> </span>designati <span class=\"_ _2d\"> </span>come copertura <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _28\"></span>investimenti <span class=\"_ _23\"></span>netti <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto; <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>parte <span class=\"_ _23\"></span>inefficace <span class=\"_ _28\"></span>\u00e8 rilevata <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>nel conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Gli importi <span class=\"_ _2b\"></span>rilevati nel <span class=\"_ _2b\"></span>patrimonio netto <span class=\"_ _2b\"></span>sono riclassificati <span class=\"_ _2b\"></span>nell'utile o nella perd<span class=\"_ _0\"></span>ita nel<span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> in <span class=\"_ _0\"></span>cui l'elemento cop<span class=\"_ _0\"></span>erto \u00e8 <span class=\"_ _0\"></span>rilevato nel <span class=\"_ _0\"></span>reddito. Le <span class=\"_ _0\"></span>variazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>degli investimenti netti di copertura sono compensate con le v<span class=\"_ _0\"></span>ariazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> degli strumenti di copertu<span class=\"_ _0\"></span>ra. La <span class=\"_ _28\"></span>contabilizzazione <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura <span class=\"_ _28\"></span>viene <span class=\"_ _23\"></span>interrotta <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>lo <span class=\"_ _28\"></span>strumento<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura scade <span class=\"_ _2b\"></span>o viene <span class=\"_ _2b\"></span>venduto, <span class=\"_ _2b\"></span>terminato o <span class=\"_ _2b\"></span>esercitato, <span class=\"_ _2b\"></span>o non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>pi\u00f9 ritenuto <span class=\"_ _2b\"></span>efficace. <span class=\"_ _2b\"></span>Qualsiasi utile <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>perdita cumulativa differita <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quel <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>rimane <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevata <span class=\"_ _2b\"></span>quando <span class=\"_ _2b\"></span>l'operazione prevista viene infine registrata nel <span class=\"_ _0\"></span>conto economico. Quando<span class=\"_ _0\"></span> non si prevede pi\u00f9 che un'op<span class=\"_ _0\"></span>erazione prevista si verifichi, <span class=\"_ _28\"></span>l'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>cumulativi <span class=\"_ _2c\"></span>differiti <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>vengono <span class=\"_ _28\"></span>immediatamente <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>ne<span class=\"_ _0\"></span>l conto economico. Gli strumenti finanziari <span class=\"_ _2b\"></span>der<span class=\"_ _0\"></span>ivati designati per <span class=\"_ _29\"></span>le operazioni <span class=\"_ _29\"></span>di copertura <span class=\"_ _29\"></span>sono classificati <span class=\"_ _29\"></span>come attivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>correnti <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>durata <span class=\"_ _22\"></span>residua <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>supera <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>dod<span class=\"_ _0\"></span>ici <span class=\"_ _0\"></span>mesi, <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o passivit\u00e0 correnti, o se la durata residua della relazione d<span class=\"_ _0\"></span>i copertura \u00e8 in<span class=\"_ _0\"></span>feriore a dodici mesi. 2.7.7.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Rimanenze  </span></span>Le <span class=\"_ _23\"></span>rimanenze <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>iscritte <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>minore <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisto <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>produzione, <span class=\"_ _23\"></span>determinato <span class=\"_ _23\"></span>secondo <span class=\"_ _23\"></span>il metodo del costo medio ponderato, ed il valore d<span class=\"_ _0\"></span>i presunto realizzo.<span class=\"_ _0\"></span> Le \u201cRimanenze\u201d <span class=\"_ _0\"></span>sono valutate <span class=\"_ _0\"></span>al minore<span class=\"_ _0\"></span> tra <span class=\"_ _0\"></span><span class=\"ff56\">il <span class=\"_ _0\"></span>costo secondo<span class=\"_ _0\"></span> il <span class=\"_ _0\"></span>principio \"<span class=\"_ _0\"></span><span class=\"ff5a\">First in <span class=\"_ _0\"></span>First out<span class=\"_ _0\"></span></span>\" (FiFo) <span class=\"_ _0\"></span>e il </span>valore netto<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>realizzo. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>realizzo <span class=\"_ _0\"></span>\u00e8 il <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita <span class=\"_ _0\"></span>stimato, <span class=\"_ _0\"></span>ovvero <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>quanto <span class=\"_ _0\"></span>riguarda <span class=\"_ _0\"></span>i prodotti <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>ram<span class=\"_ _29\"></span>e <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>prezzo <span class=\"_ _2a\"> </span>ufficiale <span class=\"_\"> </span>registrato <span class=\"_ _2a\"> </span>sul <span class=\"_ _2a\"> </span>mercato <span class=\"_ _2a\"> </span>LME <span class=\"_ _2a\"> </span>(<span class=\"ff5a\">London <span class=\"_\"> </span>Metal <span class=\"_ _2a\"> </span>Exchange</span>) <span class=\"_\"> </span>alla <span class=\"_ _2a\"> </span>data <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span> riferimento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>bilancio, <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>netto <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>costi <span class=\"_ _28\"></span>stimati <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>completamen<span class=\"_ _0\"></span>to <span class=\"_ _28\"></span>nonch\u00e9 <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>stimati <span class=\"_ _28\"></span>necessari <span class=\"_ _28\"></span>per realizzare la <span class=\"_ _29\"></span>vendita. Oltre <span class=\"_ _29\"></span>ai costi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>rettamente attribuibili sono <span class=\"_ _29\"></span>riflessi <span class=\"_ _29\"></span>nei costi <span class=\"_ _29\"></span>di produzione <span class=\"_ _29\"></span>i <span class=\"_ _29\"></span>costi generali di <span class=\"_ _23\"></span>produzione, <span class=\"_ _23\"></span>compresi <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>ammorta<span class=\"_ _0\"></span>menti <span class=\"_ _23\"></span>legati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>oduzione; <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>generalmente <span class=\"_ _23\"></span>assegnati <span class=\"_ _23\"></span>sulla base <span class=\"_ _28\"></span>del <span class=\"_ _2c\"> </span>met<span class=\"_ _0\"></span>odo <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>media <span class=\"_ _2c\"></span>mobile <span class=\"_ _2c\"></span>mensile; <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>alcuni <span class=\"_ _2c\"></span>casi <span class=\"_ _28\"></span>viene <span class=\"_ _2c\"></span>applicato <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>metodo <span class=\"_ _2c\"> </span>dell'identificazion<span class=\"_ _0\"></span>e specifica.  I lavori in <span class=\"_ _29\"></span>corso su <span class=\"_ _29\"></span>ordinazione sono valutati in <span class=\"_ _29\"></span>base allo stato <span class=\"_ _29\"></span>di avanzamento <span class=\"_ _29\"></span>dei lavori e <span class=\"_ _29\"></span>al prezzo <span class=\"_ _29\"></span>del corrispettivo contrattuale al netto dei costi contrattuali.<span class=\"_ _0\"></span> Le forniture e i materiali di consumo sono <span class=\"_ _0\"></span>valutati al costo medio ponderato.<span class=\"_ _0\"></span> 2.7.8.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Crediti e debiti </span></span>I <span class=\"_ _22\"></span>crediti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>debiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>normalmente <span class=\"_ _22\"></span>coincide <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>nominale <span class=\"_ _22\"></span>quando l\u2019effetto dell\u2019attualizzazione risulta irrilevante.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>I crediti commerciali sono rilevati inizialmente quan<span class=\"_ _0\"></span>do vengono originati. <span class=\"_ _0\"></span> Un credito <span class=\"_ _2b\"></span>commercial<span class=\"_ _0\"></span>e senza <span class=\"_ _2b\"></span>una significativa componente di <span class=\"_ _2b\"></span>fin<span class=\"_ _0\"></span>anziamento <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>inizialmente valutato <span class=\"_ _29\"></span>al prezzo della transazione.  Gli <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>perdite <span class=\"_ _23\"></span>su <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>sempre <span class=\"_ _28\"></span>valutati <span class=\"_ _23\"></span>per <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>impo<span class=\"_ _0\"></span>rto <span class=\"_ _23\"></span>pari <span class=\"_ _28\"></span>alle perdite di valore a vita sulla base dell'approccio semp<span class=\"_ _0\"></span>lificato secondo l'IFRS 9<span class=\"_ _0\"></span>. Eventuali <span class=\"_ _0\"></span>cessioni <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span>propri <span class=\"_ _0\"></span>crediti <span class=\"_ _0\"></span>commerciali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>factoring <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _0\"></span>essere <span class=\"_ _0\"></span>prosolu<span class=\"_ _0\"></span>to <span class=\"_ _0\"></span>o prosolvendo. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>og<span class=\"_ _0\"></span>getto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>cessione <span class=\"_ _28\"></span>pro <span class=\"_ _23\"></span>soluto <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>cancellati <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>bilancio, <span class=\"_ _23\"></span>poich\u00e9 <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>stati trasferiti <span class=\"_ _29\"></span>sostanzialmente tutti <span class=\"_ _2b\"></span>i rischi <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>i benefici <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>propriet\u00e0. <span class=\"_ _29\"></span>Le <span class=\"_ _29\"></span>spese <span class=\"_ _2b\"></span>di factoring per <span class=\"_ _2b\"></span>le cessioni <span class=\"_ _2b\"></span>di crediti pro <span class=\"_ _2b\"></span>soluto <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>riportate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _2b\"></span>\"Altri <span class=\"_ _29\"></span>costi <span class=\"_ _2b\"></span>operativi\". <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>ceduti <span class=\"_ _29\"></span>pro <span class=\"_ _2b\"></span>solvendo, <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>Gruppo <span class=\"_ _2b\"></span>mantiene sostanzialmente tutti<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>rischi e <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>benefici <span class=\"_ _2b\"></span>della propriet\u00e0. <span class=\"_ _2b\"></span>Questi crediti <span class=\"_ _2b\"></span>rimangono nella <span class=\"_ _2b\"></span>situazione patrimoniale del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>vengono <span class=\"_ _22\"></span>cancellati, <span class=\"_ _23\"></span>anche <span class=\"_ _22\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>passata <span class=\"_ _22\"></span>legal<span class=\"_ _0\"></span>mente. <span class=\"_ _23\"></span>Viene <span class=\"_ _22\"></span>inoltre <span class=\"_ _23\"></span>rilevata <span class=\"_ _22\"></span>u<span class=\"_ _0\"></span>na passivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>pari <span class=\"_ _22\"></span>importo. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>factoring <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>ceduti <span class=\"_ _0\"></span>pro <span class=\"_ _22\"></span>solven<span class=\"_ _22\"></span>do <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>riportate <span class=\"_ _0\"></span>tra gli oneri finanziari.  2.7.9.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Disponibilit\u00e0 liquide e mezzi equivalenti<span class=\"_ _0\"></span> </span></span>Comprendono <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>depositi <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>vista <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>investimenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>alta <span class=\"_ _22\"></span>liquidit\u00e0 che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ontamente <span class=\"_ _29\"></span>convertibili <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammontare <span class=\"_ _2b\"></span>noto di <span class=\"_ _2b\"></span>denaro<span class=\"_ _0\"></span> e <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>soggetti ad <span class=\"_ _2b\"></span>un rischio <span class=\"_ _2b\"></span>irrilevante di variazione di valore (IAS 7 paragrafo <span class=\"_ _0\"></span>7). 2.7.10.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Attivit\u00e0 e Passivit\u00e0 possedute p<span class=\"_ _0\"></span>er la vendita e attivit\u00e0 operative cessate (IFRS 5)<span class=\"_ _0\"></span> Le <span class=\"_ _23\"></span>Attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>Passivit\u00e0 <span class=\"_ _23\"></span>destin<span class=\"_ _0\"></span>ate <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>ven<span class=\"_ _0\"></span>dita <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>Attivit\u00e0 <span class=\"_ _23\"></span>operative <span class=\"_ _23\"></span>cessate <span class=\"_ _23\"></span>(<span class=\"ff5a\">Discontinued <span class=\"_ _23\"></span>Operation</span>) sono <span class=\"_ _2c\"></span>classificate <span class=\"_ _28\"></span>come <span class=\"_ _2c\"></span>tali <span class=\"_ _2c\"></span>se <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>loro<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>va<span class=\"_ _0\"></span>lore <span class=\"_ _28\"></span>con<span class=\"_ _0\"></span>tabile <span class=\"_ _28\"></span>sar\u00e0 <span class=\"_ _2c\"></span>recuperato <span class=\"_ _2c\"></span>principalmente <span class=\"_ _2c\"></span>attraverso <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>vendita piuttosto che attraverso l\u2019utilizzo continuativo.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Le attivit\u00e0 non <span class=\"_ _29\"></span>correnti o i <span class=\"_ _29\"></span>gruppi di tali <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 che vengono dismessi in <span class=\"_ _29\"></span>un'unica operazione (gruppi <span class=\"_ _29\"></span>in dismissione), comprese le passivit\u00e0 associate, sono classificate come possedute per la v<span class=\"_ _0\"></span>endita se il loro valore contabile <span class=\"_ _2c\"></span>sar\u00e0 <span class=\"_ _2c\"> </span>recuperato <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2c\"></span>attraverso <span class=\"_ _2c\"></span>un'operazione <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>vendita <span class=\"_ _2c\"> </span>piutto<span class=\"_ _0\"></span>sto <span class=\"_ _2c\"></span>che <span class=\"_ _2c\"></span>attravers<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>l'uso continuativo. Questa condizione \u00e8 soddisfatta solo quando <span class=\"_ _0\"></span>la dismissione \u00e8 altamente probabile e l'attivit\u00e0 o il gruppo in dismissione \u00e8 disponibile per la vendita immediata nelle<span class=\"_ _0\"></span> sue condizioni attuali.<span class=\"_ _0\"></span> L\u2019operazione di<span class=\"_ _0\"></span> vendi<span class=\"_ _0\"></span>ta deve <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>altamente probabile, <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>realizzazione <span class=\"_ _0\"></span>prevista <span class=\"_ _0\"></span>all\u2019interno <span class=\"_ _0\"></span>dei dodici <span class=\"_ _22\"></span>mesi. <span class=\"_ _22\"></span>Se <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>vendita <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>prevista <span class=\"_ _22\"></span>concludersi <span class=\"_ _22\"></span>dopo <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>anno, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutati <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendita <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>loro valore attuale<span class=\"_ _0\"></span>. Qualsiasi <span class=\"_ _0\"></span>increment<span class=\"_ _0\"></span>o nel <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di ven<span class=\"_ _0\"></span>dita<span class=\"_ _0\"></span> deriv<span class=\"_ _0\"></span>ante dal <span class=\"_ _0\"></span>trascorrere <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>tempo \u00e8 rilevata come componente finanziaria nel con<span class=\"_ _0\"></span>to economico.  Le attivit\u00e0 e le passivit\u00e0 del gruppo in dismissione sono esposte separatamente nello stato patrimoniale nelle <span class=\"_ _2b\"></span>voci <span class=\"ff5d\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>correnti <span class=\"_ _29\"></span>detenute <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>la vendita\u201d <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>\u201cPassivit\u00e0 direttamente <span class=\"_ _2b\"></span>collegate <span class=\"_ _2b\"></span>ad <span class=\"_ _29\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>detenute </span>per la vendita\u201d<span class=\"ff56\">. </span>In <span class=\"_ _29\"></span>caso <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>societ\u00e0 <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>trollate <span class=\"_ _29\"></span>con <span class=\"_ _29\"></span>l'unica <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span>tenzione di <span class=\"_ _2b\"></span>rivenderle, le <span class=\"_ _2b\"></span>attivit\u00e0 e <span class=\"_ _2b\"></span>le passivit\u00e0 sono <span class=\"_ _2a\"> </span>state <span class=\"_ _2a\"> </span>pertanto <span class=\"_ _2d\"> </span>indi<span class=\"_ _0\"></span>cate <span class=\"_ _2a\"> </span>come <span class=\"_ _2d\"> </span>detenute <span class=\"_\"> </span>per <span class=\"_ _2d\"> </span>la <span class=\"_\"> </span>vendita <span class=\"_ _2d\"> </span>nello <span class=\"_\"> </span>stato <span class=\"_ _2a\"> </span>patrimoniale <span class=\"_ _2d\"> </span>con<span class=\"_ _0\"></span>solidato. <span class=\"_ _2a\"> </span>Il <span class=\"_ _2a\"> </span>conto economico \u00e8 riepilogato nel risultato delle attivit\u00e0 operative cessate <span class=\"_ _0\"></span>del conto economico consolidato.<span class=\"_ _0\"></span> Le riclassificazioni delle attivit\u00e0 immateriali e degli immobili, impianti e macchinari sono riportate alla voc<span class=\"ls0\">e <span class=\"_ _28\"></span>trasferimenti <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>ris<span class=\"_ _0\"></span>pettivo <span class=\"_ _28\"></span>sviluppo <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo. <span class=\"_ _28\"></span>Le <span class=\"_ _2c\"></span>spese <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>ven<span class=\"_ _0\"></span>dite <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>in </span>dismissione <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>incluse <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>risultato <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>esercizio <span class=\"_ _23\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>momento <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>vendita. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>gruppo <span class=\"_ _23\"></span>in dismissione comprende anche <span class=\"_ _2b\"></span>l'avv<span class=\"_ _0\"></span>iamento acquisito in <span class=\"_ _29\"></span>un'aggregazione aziendale <span class=\"_ _29\"></span>se il <span class=\"_ _2b\"></span>grup<span class=\"_ _0\"></span>po in <span class=\"_ _29\"></span>dismissione rappresenta <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span>'unit\u00e0 <span class=\"_ _23\"></span>gen<span class=\"_ _0\"></span>eratrice <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>l'avviamento <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _28\"></span>allocato <span class=\"_ _23\"></span>ad <span class=\"_ _28\"></span>essa. <span class=\"_ _28\"></span>Se <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>in dismissione <span class=\"_\"> </span>rappresenta <span class=\"_\"> </span>solo <span class=\"_ _2a\"> </span>una <span class=\"_\"> </span>parte <span class=\"_ _2a\"> </span>dell'unit\u00e0 <span class=\"_\"> </span>generatrice <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>flussi <span class=\"_\"> </span>finanziari, <span class=\"_\"> </span>gli <span class=\"_\"> </span>viene <span class=\"_\"> </span>attribuito <span class=\"_ _2a\"> </span>un avviamento proporzionale e viene registrato come \"Attiv<span class=\"_ _0\"></span>it\u00e0 destinate alla vendita\".<span class=\"_ _0\"></span> Gli <span class=\"_ _2c\"></span>ammortamenti <span class=\"_ _2c\"></span>programmati <span class=\"_ _2c\"></span>non <span class=\"_ _2c\"></span>vengono <span class=\"_ _2c\"></span>pi\u00f9 <span class=\"_ _2c\"></span>rilevati <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>destinate <span class=\"_ _2c\"></span>alla <span class=\"_ _2c\"></span>vendita. <span class=\"_ _2c\"></span>Esse vengono iscritte al minore tra il valore c<span class=\"_ _0\"></span>ontabile e il fair value al netto dei <span class=\"_ _0\"></span>costi di vendita. 2.7.11.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Patrimonio netto Il <span class=\"_ _29\"></span>capitale <span class=\"_ _29\"></span>sociale <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>costituito da <span class=\"_ _2b\"></span>azioni ordinarie <span class=\"_ _2b\"></span>e da <span class=\"_ _2b\"></span>azion<span class=\"_ _0\"></span>i <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>risparmio, <span class=\"_ _29\"></span>tutte <span class=\"_ _29\"></span>prive <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _29\"></span>nominale, sottoscritte e versate alla data di riferimento del presente bilancio, ridotto eventualmente dei crediti verso soci per decimi ancora da versare. <span class=\"_ _0\"></span> Gli altri <span class=\"_ _0\"></span>utili <span class=\"ff5d\">o <span class=\"_ _0\"></span>perdite <span class=\"_ _0\"></span>iscritti a <span class=\"_ _0\"></span>conto econo<span class=\"_ _0\"></span>mico complessivo <span class=\"_ _0\"></span>(\u201cOCI\u201d)</span> <span class=\"_ _0\"></span>comprendon<span class=\"_ _0\"></span>o gli <span class=\"_ _0\"></span>aggiustamenti di conversione <span class=\"_ _0\"></span>delle valute<span class=\"_ _0\"></span> estere <span class=\"_ _0\"></span>derivanti dalla <span class=\"_ _0\"></span>conversione <span class=\"_ _0\"></span>dei bi<span class=\"_ _0\"></span>lanci del<span class=\"_ _22\"></span>le controllate <span class=\"_ _0\"></span>estere, le <span class=\"_ _0\"></span>variazioni<span class=\"_ _0\"></span> del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>delle <span class=\"_\"> </span>coperture <span class=\"_ _2a\"> </span>dei <span class=\"_\"> </span>flussi <span class=\"_\"> </span>di <span class=\"_\"> </span>cassa <span class=\"_\"> </span>e <span class=\"_ _2a\"> </span>la <span class=\"_\"> </span>rivalutazione <span class=\"_\"> </span>delle <span class=\"_ _2a\"> </span>immobilizzazioni <span class=\"_\"> </span>prima <span class=\"_\"> </span>della riclassificazione <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>investimento <span class=\"_ _2d\"> </span>immobiliare. <span class=\"_ _2d\"> </span>Sono <span class=\"_ _2d\"> </span>inoltre <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>ncluse <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"> </span>ut<span class=\"_ _0\"></span>ili <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>perdite attuariali degli impegni pensionistici secon<span class=\"_ _0\"></span>do lo IAS 19, al netto delle imposte differite.<span class=\"_ _0\"></span> Le partecipazioni di minoranza rappresentano gli interessi di terzi nelle co<span class=\"_ _0\"></span>ntrollate consolidate.<span class=\"_ _0\"></span> 2.7.11.1.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Azioni proprie (IAS 32) </span></span>Il <span class=\"_ _2c\"></span>valore <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2c\"></span>proprie, <span class=\"_ _2c\"> </span>secondo<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>quanto<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>evisto <span class=\"_ _2c\"></span>dallo <span class=\"_ _2c\"> </span>IAS <span class=\"_ _2d\"> </span>32, <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2c\"></span>esposto <span class=\"_ _2d\"> </span>in <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span>minuzione <span class=\"_ _2c\"></span>del capitale <span class=\"_ _22\"></span>emesso. <span class=\"_ _22\"></span>Tale <span class=\"_ _22\"></span>rappresentazione <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>per\u00f2 <span class=\"_ _22\"></span>unicamente <span class=\"_ _22\"></span>n<span class=\"_ _0\"></span>elle <span class=\"_ _22\"></span>note <span class=\"_ _22\"></span>esplicative, <span class=\"_ _22\"></span>mentre <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ospetti <span class=\"_ _22\"></span>il costo <span class=\"_ _2b\"></span>stori<span class=\"_ _0\"></span>co <span class=\"_ _2b\"></span>delle azioni <span class=\"_ _2b\"></span>proprie <span class=\"_ _2b\"></span>possedute figura <span class=\"_ _2b\"></span>distintamente <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>segno <span class=\"_ _2b\"></span>negativo a<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>riduzi<span class=\"_ _0\"></span>one del <span class=\"_ _2b\"></span>patrimonio netto. I costi per operazioni sul patrimonio netto <span class=\"_ _0\"></span>sono imputati direttamente a riduzione delle riserve.<span class=\"_ _0\"></span> <span class=\"_ _0\"></span> 2.7.11.2.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Accordi di pagamento basati su propri strumenti p<span class=\"_ _0\"></span>atrimoniali (IFRS 2)<span class=\"_ _0\"></span> </span></span>Nell\u2019ambito <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>piani <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>incentivazione <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>medio<span class=\"ff56\">-lung<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>previsti <span class=\"_ _23\"></span>accordi <span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>favore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>parte </span>del <span class=\"_ _2b\"></span>management, con <span class=\"_ _2b\"></span>pagamenti <span class=\"_ _2b\"></span>basati <span class=\"_ _29\"></span>su <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>rappresentative <span class=\"_ _2b\"></span>del capitale, <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>consistono <span class=\"_ _29\"></span>nell\u2019assegnazione di diritti<span class=\"_ _0\"></span> che <span class=\"_ _0\"></span>attribuiscono <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>beneficiari, <span class=\"_ _0\"></span>subordinatamente <span class=\"_ _0\"></span>all\u2019avverarsi <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>stabilite, <span class=\"_ _0\"></span>i<span class=\"_ _0\"></span><span class=\"ff56\">l <span class=\"_ _0\"></span>diritto <span class=\"_ _0\"></span>di </span>ottenere al termine dell\u2019ultimo anno di<span class=\"_ _0\"></span> vesting, l\u2019equivalente monetario o in azioni della Societ\u00e0.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>2.7.12.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Imposte correnti e differite<span class=\"_ _0\"></span> L'onere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>dell\u2019esercizio <span class=\"_ _22\"></span>comprende <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>nere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>corrente <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>l'onere <span class=\"_ _23\"></span>fiscale <span class=\"_ _22\"></span>differito. <span class=\"_ _23\"></span>Le <span class=\"_ _0\"></span>impo<span class=\"_ _0\"></span>ste sul <span class=\"_ _2e\"> </span>reddito <span class=\"_ _2e\"> </span>sono <span class=\"_ _2e\"> </span>rilevate <span class=\"_ _2e\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _2e\"> </span>economico, <span class=\"_ _2e\"> </span>fatta <span class=\"_ _2e\"> </span>eccezione <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>quelle <span class=\"_ _2e\"> </span>relative <span class=\"_ _2f\"> </span>a <span class=\"_ _8b\"> </span>operazioni <span class=\"_ _2e\"> </span>rilevate direttamente nel patrimonio netto che sono con<span class=\"_ _0\"></span>tabilizzate nello stesso.<span class=\"_ _0\"></span><span class=\"ff57\"> </span>L\u2019onere fiscale corrente rapp<span class=\"_ _0\"></span>resenta la stima dell'importo d<span class=\"_ _0\"></span>elle imposte sul reddito <span class=\"_ _0\"></span>dovu<span class=\"_ _0\"></span><span class=\"ff56\">te calcolate sul </span>reddito <span class=\"_ _22\"></span>imponibile <span class=\"_ _22\"></span>dell\u2019esercizio, <span class=\"_ _23\"></span>determinato <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>aliquote <span class=\"_ _23\"></span>fiscali <span class=\"_ _0\"></span>vigenti <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>quelle <span class=\"_ _22\"></span>sostanzialmente in <span class=\"_ _2f\"> </span>vigore <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>chiusura <span class=\"_ _2f\"> </span>dell\u2019esercizio. <span class=\"_ _2f\"> </span>Le <span class=\"_ _2e\"> </span>impo<span class=\"_ _0\"></span>ste <span class=\"_ _2f\"> </span>differite <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>stanziate <span class=\"_ _2f\"> </span>secondo <span class=\"_ _2f\"> </span>il <span class=\"_ _2f\"> </span>metodo patrimoniale, calcolando le differenze temporanee tra i valori contabili delle <span class=\"_ _29\"></span>attivit\u00e0 e delle pas<span class=\"_ _29\"></span>sivit\u00e0 iscritti in bilancio <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>corrispondenti <span class=\"_ _28\"></span>valori <span class=\"_ _28\"></span>riconosciuti <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _28\"></span>fiscali. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>stanziate <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le seguenti <span class=\"_ _49\"> </span>differenze <span class=\"_ _46\"> </span>temporanee: <span class=\"_ _49\"> </span>rilevazione <span class=\"_ _46\"> </span>iniziale <span class=\"_ _46\"> </span>di <span class=\"_ _49\"> </span>attivit\u00e0 <span class=\"_ _46\"> </span>o <span class=\"_ _49\"> </span>passivit\u00e0 <span class=\"_ _46\"> </span>in <span class=\"_ _49\"> </span>un'operazione <span class=\"_ _46\"> </span>diversa dall'aggregazione aziendale che <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n influenzi <span class=\"_ _29\"></span>n\u00e9 l'utile <span class=\"_ _29\"></span>(o perdita) <span class=\"_ _29\"></span>contabile n\u00e9 <span class=\"_ _29\"></span>il reddito <span class=\"_ _29\"></span>imponibile (o <span class=\"_ _29\"></span>perdita fiscale), <span class=\"_ _23\"></span>nonch\u00e9 <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>differenze <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>investimenti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto <span class=\"_ _23\"></span>nella misura in cui \u00e8 probabile che, nel presumibile fu<span class=\"_ _0\"></span>turo, la differenza temporanea non<span class=\"_ _0\"></span> si riverser\u00e0. <span class=\"_ _0\"></span> Le attivit\u00e0 e le passivit\u00e0 per imposte differite sono valutate utilizzando le aliquote fiscali che si prevede saranno <span class=\"_ _22\"></span>applicabili <span class=\"_ _22\"></span>nell'esercizio <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>sar\u00e0 <span class=\"_ _0\"></span>realizzata<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>l'attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>sar\u00e0 <span class=\"_ _22\"></span>estinta <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>riferiscon<span class=\"_ _0\"></span>o, sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>aliquote <span class=\"_ _22\"></span>fiscali <span class=\"_ _23\"></span>stabilite <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>provvedimenti <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>sostanzialmente <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di chiusura <span class=\"_ _29\"></span>dell\u2019esercizio. <span class=\"_ _29\"></span>Le <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0<span class=\"ff56\"> <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i<span class=\"_ _0\"></span>mposte <span class=\"_ _29\"></span>differite <span class=\"_ _29\"></span>sono <span class=\"_ _29\"></span>compensate <span class=\"_ _2b\"></span>in presenza <span class=\"_ _2b\"></span>di un <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> </span>legalmente es<span class=\"_ _0\"></span>ercitabile di <span class=\"_ _0\"></span>compensare <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti con<span class=\"_ _0\"></span> le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti <span class=\"_ _0\"></span>e se <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 e le <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>per imposte <span class=\"_ _29\"></span>differite sono <span class=\"_ _29\"></span>relative <span class=\"_ _29\"></span>a imposte <span class=\"_ _2b\"></span>sul reddito applicate dalla <span class=\"_ _29\"></span>medesima autorit\u00e0 <span class=\"_ _29\"></span>fiscale sullo stesso soggetto <span class=\"_ _29\"></span>passivo d'imposta o <span class=\"_ _29\"></span>soggetti passivi d'imposta <span class=\"_ _29\"></span>diversi che intendono reg<span class=\"_ _29\"></span>olare le passivit\u00e0 e le attivit\u00e0 fiscali correnti su base netta, o<span class=\"_ _0\"></span> realizzare le attivit\u00e0 e regolare le passivit\u00e0 con<span class=\"_ _0\"></span>tempo<span class=\"_ _0\"></span>raneamente. <span class=\"ff57\"> </span>Le <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>imposte <span class=\"_ _2b\"></span>differite <span class=\"_ _3d\"></span>sono <span class=\"_ _2b\"></span>rilevate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>misura <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>probabile <span class=\"_ _2b\"></span>che <span class=\"_ _3d\"></span>sia <span class=\"_ _2b\"></span>disponibile <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>reddito imponibile <span class=\"_ _28\"></span>futuro <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>fronte <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>stesse <span class=\"_ _28\"></span>possano <span class=\"_ _28\"></span>essere <span class=\"_ _28\"></span>utilizzate. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>imposte<span class=\"_ _0\"></span> differite <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rivisto <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _23\"></span>nella <span class=\"_ _22\"></span>misura <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _23\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>il relativo beneficio fiscale sia realizzabile.<span class=\"_ _0\"></span> 2.7.13.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Benefici ai dipendenti<span class=\"_ _0\"></span> I <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>successivi <span class=\"_ _23\"></span>al <span class=\"_ _0\"></span>rap<span class=\"_ _0\"></span>porto <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>lavo<span class=\"_ _0\"></span>ro <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>definiti <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>programmi <span class=\"_ _0\"></span>che <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>fu<span class=\"_ _0\"></span>nzio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>delle loro caratteristiche sono distinti in programmi a \u201ccontribut<span class=\"_ _0\"></span>i definiti\u201d e programmi a \u201cbenefici definiti\u201d.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Nei programmi <span class=\"_ _0\"></span>a con<span class=\"_ _0\"></span>tributi definiti <span class=\"_ _0\"></span>l\u2019obbligazione <span class=\"_ _0\"></span>dell\u2019impresa, limitata <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>versamento dei <span class=\"_ _0\"></span>contrib<span class=\"_ _0\"></span>uti a un\u2019entit\u00e0 giuridicamente distinta, <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 costituita dai contributi dovuti alla data di riferimento<span class=\"_ _0\"></span> del bilancio. <span class=\"_ _0\"></span> </span>La <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2c\"> </span>relativa <span class=\"_ _2d\"> </span>ai <span class=\"_ _28\"></span>prog<span class=\"_ _0\"></span>rammi <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>benefici <span class=\"_ _2d\"> </span>definiti, <span class=\"_ _28\"></span>come <span class=\"_ _2d\"> </span>il <span class=\"_ _28\"></span>trattamento <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>fine <span class=\"_ _2d\"> </span>rapporto <span class=\"_ _28\"></span>definito dall\u2019art. <span class=\"_ _2b\"></span>2120 <span class=\"_ _2b\"></span>C.C., <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>eventuali <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>servizio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>piano, <span class=\"_ _2b\"></span>\u00e8<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>determinata, <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>supporto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>esperti<span class=\"_ _0\"></span> </span>indipendenti, <span class=\"_ _0\"></span>sulla <span class=\"_ _0\"></span>base di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>attuariali <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rilevata <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>competenza <span class=\"_ _0\"></span>coerentemente <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>periodo <span class=\"_ _0\"></span>lavorativo necessario all\u2019ottenimento dei benefici. Gli utili e le perdite attu<span class=\"_ _0\"></span>ariali relative ai programmi a bene<span class=\"_ _0\"></span><span class=\"ff56\">fici definiti </span>derivanti <span class=\"_ _0\"></span>da variazioni <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>ipotesi attuariali <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>modifiche delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>piani sono <span class=\"_ _0\"></span>immediatamente<span class=\"_ _0\"></span> rilevati tra le componenti di conto economico comples<span class=\"_ _0\"></span>sivo.  Gli <span class=\"_ _22\"></span>ob<span class=\"_ _0\"></span>blighi <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>dipendenti <span class=\"_ _22\"></span>dovu<span class=\"_ _0\"></span>ti <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _23\"></span>spesa non appena il servizio relativo \u00e8 stato reso. Una passivit\u00e0 deve esser<span class=\"_ _0\"></span>e registrata per il pagamento anticipato se<span class=\"_ _0\"></span> il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>attualmente <span class=\"_ _22\"></span>un'o<span class=\"_ _0\"></span>bbligazione <span class=\"_ _22\"></span>legale <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fatto <span class=\"_ _23\"></span>a <span class=\"_ _0\"></span>pagare <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>importo <span class=\"_ _0\"></span>sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>lavo<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>svolto dal dipendente, ed \u00e8 possibile stimare l'obb<span class=\"_ _0\"></span>ligazione in termini affidabili.<span class=\"_ _0\"></span> L'obbligazione netta da parte <span class=\"_ _29\"></span>del Gruppo, in considerazione dei <span class=\"_ _29\"></span>benefici per <span class=\"_ _29\"></span>i dipendenti dovuti <span class=\"_ _29\"></span>a lungo termine, \u00e8 <span class=\"_ _0\"></span>costituita <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>benefici futuri <span class=\"_ _0\"></span>dovuti <span class=\"_ _0\"></span>ai dipendenti <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cambio dei <span class=\"_ _0\"></span>servizi <span class=\"_ _0\"></span>resi nell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _0\"></span>corrente e negli <span class=\"_ _2b\"></span>esercizi precedenti. <span class=\"_ _2b\"></span>Tali <span class=\"_ _2b\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _2b\"></span>sono attualizzati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>determinare <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>attuale. <span class=\"_ _2b\"></span>Le rimodulazioni di tali obbligazioni sono rilevate nel conto economico dell'esercizio in<span class=\"_ _0\"></span> cui avvengono le<span class=\"_ _0\"></span> rimodulazio<span class=\"_ _0\"></span>ni. I <span class=\"_ _2c\"></span>benefici <span class=\"_ _2c\"></span>legati <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>cessazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>rapporto <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>lavoro <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"> </span>contabilizzati <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>spese <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span>primo <span class=\"_ _2c\"></span>dei seguenti momenti: quando il Gruppo non pu\u00f2 pi\u00f9 revocare l'offerta di fornire tali benefici o quando il Gruppo registra <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>misure <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>ristrutturazione. <span class=\"_ _23\"></span>Se <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>prevedi<span class=\"_ _0\"></span>bile <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>saranno <span class=\"_ _22\"></span>compen<span class=\"_ _0\"></span>sati entro dodici mesi dalla data di chiusura d<span class=\"_ _0\"></span>el bilancio, essi vengono attualizzati.<span class=\"_ _0\"></span> Gli <span class=\"_ _22\"></span>obbl<span class=\"_ _0\"></span>ighi <span class=\"_ _22\"></span>pensionistici <span class=\"_ _23\"></span>derivanti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>piani <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>definiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>determina<span class=\"_ _0\"></span>ti <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzan<span class=\"_ _0\"></span>do <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>metodo della <span class=\"_ _2c\"></span><span class=\"ff5d\">\u201c</span>proiezione <span class=\"_ _2c\"></span>unitaria <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>credito<span class=\"ff5d\">\u201d <span class=\"_ _28\"> </span>(IAS <span class=\"_ _2d\"> </span>19)</span>. <span class=\"_ _28\"></span>I <span class=\"_ _2c\"> </span>benefici <span class=\"_ _2d\"> </span>attesi, <span class=\"_ _28\"></span>comprese <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>componenti <span class=\"_ _28\"></span>dinamiche <span class=\"_ _2c\"> </span>(ad esempio, <span class=\"_ _2a\"> </span>gli <span class=\"_ _2d\"> </span>aumenti <span class=\"_ _2d\"> </span>salar<span class=\"_ _0\"></span>iali <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estazioni <span class=\"_ _2a\"> </span>pensionistiche), <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>rilevati <span class=\"_ _2d\"> </span>lungo <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>periodo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>servizio complessivo <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rispettivo <span class=\"_ _0\"></span>dipenden<span class=\"_ _0\"></span>te. <span class=\"_ _0\"></span>L'importo <span class=\"_ _0\"></span>viene attualizzato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>esso <span class=\"_ _0\"></span>viene dedot<span class=\"_ _0\"></span>to il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>delle attivit\u00e0 a servizio del piano. Si ricorre alla con<span class=\"_ _0\"></span>sulenza attuariale. <span class=\"_ _0\"></span> Gli <span class=\"_ _2a\"> </span>utili <span class=\"_ _2a\"> </span>o <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>attuariali <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da <span class=\"_ _2d\"> </span>scostamenti <span class=\"_\"> </span>tra <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>variazioni <span class=\"_ _2a\"> </span>previste <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>realizzate <span class=\"_\"> </span>dei beneficiari del piano <span class=\"_ _29\"></span>e delle <span class=\"_ _29\"></span>ipotesi attuariali sono iscritti <span class=\"_ _29\"></span>a conto economico <span class=\"_ _29\"></span>complessivo nel periodo in <span class=\"_ _29\"></span>cui si verificano e sono indicati separatamente nel pr<span class=\"_ _0\"></span>ospetto del conto economico complessivo. <span class=\"_ _0\"></span> I <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>servizio <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>contabilizzati <span class=\"_ _0\"></span>nei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _0\"></span>person<span class=\"_ _0\"></span>ale. Anch<span class=\"_ _0\"></span>e gl<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>interessi <span class=\"_ _0\"></span>passivi <span class=\"_ _0\"></span>derivanti <span class=\"_ _0\"></span>dalla capitalizzazione <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"></span>obblighi <span class=\"_ _2c\"> </span>pensionistici <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"> </span>proventi <span class=\"_ _2d\"> </span>derivanti <span class=\"_ _2c\"></span>dalle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>servizio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>piano <span class=\"_ _2d\"> </span>sono registrati tra le spese per il personale, ut<span class=\"_ _0\"></span>ilizzando il tasso di sconto dell'obbligazio<span class=\"_ _0\"></span>ne a benefici defini<span class=\"_ _0\"></span>ti. L'eventuale <span class=\"_ _23\"></span>eccedenza <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _23\"></span>rispetto <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>rilevare <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>limitata <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>perdite <span class=\"_ _28\"></span>attuariali nette cumulate <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>contabilizzate e al <span class=\"_ _0\"></span>costo pr<span class=\"_ _0\"></span>evidenziale relativo <span class=\"_ _0\"></span>alle prestazioni di<span class=\"_ _0\"></span> lavoro passate, <span class=\"_ _0\"></span>oltre al valore <span class=\"_\"> </span>attuale <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>eventuali <span class=\"_ _8b\"> </span>rimborsi <span class=\"_ _8b\"> </span>disponibili <span class=\"_ _8b\"> </span>e <span class=\"_\"> </span>alla <span class=\"_ _8b\"> </span>riduzione <span class=\"_ _8b\"> </span>dei <span class=\"_ _8b\"> </span>contributi <span class=\"_ _8b\"> </span>futuri <span class=\"_ _8b\"> </span>al <span class=\"_\"> </span>pi<span class=\"_ _0\"></span>ano. <span class=\"_\"> </span>Il <span class=\"_\"> </span>costo<span class=\"_ _0\"></span> previdenziale relativo alle prestazioni di lavoro <span class=\"_ _0\"></span>passate \u00e8 rilevato nell'utile o nella perdita<span class=\"_ _0\"></span> <span class=\"ff5d\">d\u2019esercizio</span>. I <span class=\"_ _2d\"> </span>contributi <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>datore <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>lavoro <span class=\"_ _2d\"> </span>versati <span class=\"_ _2d\"> </span>dal <span class=\"_ _2c\"></span>Gru<span class=\"_ _0\"></span>ppo <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>un'entit\u00e0 <span class=\"_ _2c\"></span>indipenden<span class=\"_ _0\"></span>te <span class=\"_ _2d\"> </span>nell'ambito <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>a contribuzione <span class=\"_ _2b\"></span>defin<span class=\"_ _0\"></span>ita, <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>possono <span class=\"_ _2b\"></span>sorgere <span class=\"_ _2b\"></span>ul<span class=\"_ _0\"></span>teriori <span class=\"_ _2b\"></span>obbligh<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>legali <span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>impliciti <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>pagamento, <span class=\"_ _29\"></span>sono spesati nel momento<span class=\"_ _0\"></span> in cui <span class=\"_ _0\"></span>sono sostenuti, <span class=\"_ _0\"></span>non appena il <span class=\"_ _0\"></span>dipendente \u00e8 in <span class=\"_ _0\"></span>servizio. I <span class=\"_ _0\"></span>paga<span class=\"_ _22\"></span>menti anticipati sono riconosciuti <span class=\"_ _29\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>misura in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>si crea <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>diritto al <span class=\"_ _2b\"></span>rimborso <span class=\"_ _2b\"></span>o alla <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>dei pagamenti <span class=\"_ _2b\"></span>futuri.<span class=\"_ _0\"></span> 2.7.14.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Fondi rischi ed oneri I fondi <span class=\"_ _29\"></span>per rischi <span class=\"_ _2b\"></span>ed oneri sono <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>con scadenza <span class=\"_ _2b\"></span>o ammontare incerti. Tali <span class=\"_ _2b\"></span>fondi sono rilevati solo se:<span class=\"ls0\"> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">il Gruppo ha un\u2019obbligazione in corso (legale o implicita) quale ris<span class=\"_ _0\"></span>ultato di un evento passato;<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">\u00e8 probabile <span class=\"_ _0\"></span>che per <span class=\"_ _0\"></span>adempiere all\u2019obbligazione <span class=\"_ _0\"></span>si render\u00e0 <span class=\"_ _0\"></span>necessario l\u2019impiego <span class=\"_ _0\"></span>di risorse <span class=\"_ _0\"></span>atte a </span></span>produrre benefici economici; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">pu\u00f2 essere fatta <span class=\"ff5d\">una stima attendibile d<span class=\"_ _0\"></span>ell\u2019ammontare dell\u2019obbligazione.<span class=\"_ _0\"></span></span> </span></span>Gli <span class=\"_ _2b\"></span>importi accantonati <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>quindi <span class=\"_ _2b\"></span>le <span class=\"_ _29\"></span>migliori <span class=\"_ _2b\"></span>stime dell\u2019onere <span class=\"_ _2b\"></span>necessario <span class=\"_ _2b\"></span>per estinguere <span class=\"_ _2b\"></span>l\u2019obbligazione o per <span class=\"_ _2b\"></span>trasferirla a terzi <span class=\"_ _2b\"></span>alla data di <span class=\"_ _2b\"></span>riferimento del bilancio. <span class=\"_ _29\"></span>Laddove <span class=\"_ _29\"></span>l\u2019effetto del <span class=\"ff56\">valore <span class=\"_ _2b\"></span>attuale del <span class=\"_ _29\"></span>denaro \u00e8 <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> </span>aspetto rilevante, l\u2019importo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> un <span class=\"_ _29\"></span>accantonamento \u00e8 <span class=\"_ _29\"></span>rappresentato dal <span class=\"_ _29\"></span>valore attuale <span class=\"_ _29\"></span>degli oneri <span class=\"_ _29\"></span>che si <span class=\"_ _2b\"></span>suppo<span class=\"_ _0\"></span>ne saranno necessari per estinguere l\u2019obbl<span class=\"_ _0\"></span>igazione.<span class=\"ff56\"> </span>I <span class=\"_ _29\"></span>fondi <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>garanzia sono <span class=\"_ _29\"></span>accantonati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>base all'evoluzione <span class=\"_ _29\"></span>prevista della <span class=\"_ _2b\"></span>perdita. Gli <span class=\"_ _2b\"></span>accantonamenti per contratti <span class=\"_ _22\"></span>d'acquisto <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendita <span class=\"_ _22\"></span>onerosi <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>stabiliti <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ando <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>totali <span class=\"_ _0\"></span>previsti <span class=\"_ _23\"></span>superano <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>vendite attese.  Gli <span class=\"_ _2c\"></span>accantonamenti <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"></span>ristrutturazione <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>rilevati <span class=\"_ _2c\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2c\"></span>viene <span class=\"_ _2c\"> </span>stabilito <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>comunicat<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"></span>parti interessate un piano di ristrutturazione formale e detta<span class=\"_ _0\"></span>gliato.  Gli <span class=\"_ _0\"></span>accantonamenti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>contratti <span class=\"_ _0\"></span>on<span class=\"_ _0\"></span>erosi <span class=\"_ _0\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>se <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>inevitabili <span class=\"_ _22\"></span>derivanti <span class=\"_ _22\"></span>dal <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>tratto superano <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>benefici <span class=\"_ _0\"></span>previsti. <span class=\"_ _0\"></span>In <span class=\"_ _0\"></span>questo <span class=\"_ _0\"></span>caso, <span class=\"_ _0\"></span>l'accantonamento <span class=\"_ _0\"></span>viene <span class=\"_ _0\"></span>reg<span class=\"_ _22\"></span>istrato <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>minore <span class=\"_ _0\"></span>tra il costo previsto per la risoluzione del con<span class=\"_ _0\"></span>tratto e il costo netto previsto per la sua continuazione.<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>accant<span class=\"_ _0\"></span>onamenti <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ris<span class=\"_ _0\"></span>chi <span class=\"_ _22\"></span>ambientali <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>fine <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>eliminare <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>danni <span class=\"_ _0\"></span>ambientali<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>derivanti da potenziale contaminazione e le relative sp<span class=\"_ _0\"></span>ese di gestione. Passivit\u00e0 potenziali Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _28\"></span>includono <span class=\"_ _28\"></span>obbligazioni <span class=\"_ _28\"></span>potenziali, <span class=\"_ _28\"></span>derivanti <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>eventi <span class=\"_ _28\"></span>passati, <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>richiedono l'adempimento <span class=\"_\"> </span>solo <span class=\"_ _8b\"> </span>se <span class=\"_\"> </span>si <span class=\"_ _8b\"> </span>verificano <span class=\"_ _8b\"> </span>uno <span class=\"_ _8b\"> </span>o <span class=\"_\"> </span>pi\u00f9 <span class=\"_ _8b\"> </span>eventi <span class=\"_\"> </span>futu<span class=\"_ _0\"></span>ri <span class=\"_\"> </span>incerti, <span class=\"_\"> </span>che <span class=\"_\"> </span>l'i<span class=\"_ _0\"></span>m<span class=\"_ _0\"></span>presa <span class=\"_\"> </span>non <span class=\"_ _8b\"> </span>pu\u00f2 <span class=\"_ _8b\"> </span>controllare completamente. Inoltre, <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>potenziali includono obbli<span class=\"_ _29\"></span>gazioni <span class=\"_ _29\"></span>attuali <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>ricon<span class=\"_ _0\"></span>osciute <span class=\"_ _29\"></span>che <span class=\"_ _29\"></span>derivano <span class=\"_ _29\"></span>da eventi <span class=\"_ _2e\"> </span>passati <span class=\"_ _2e\"> </span>ma <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>quali <span class=\"_ _2f\"> </span>\u00e8 <span class=\"_ _8b\"> </span>improbabile <span class=\"_ _2e\"> </span>che <span class=\"_ _2e\"> </span>sia <span class=\"_ _2e\"> </span>neces<span class=\"_ _0\"></span>sario <span class=\"_ _2e\"> </span>un <span class=\"_ _2e\"> </span>esborso <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>risor<span class=\"_ _0\"></span>se <span class=\"_ _8b\"> </span>per <span class=\"_ _2f\"> </span>estinguere l'obbligazione, n<span class=\"_ _0\"></span>onch\u00e9 <span class=\"_ _0\"></span>obbligazioni <span class=\"_ _0\"></span>il cui <span class=\"_ _0\"></span>importo <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>pu\u00f2 <span class=\"_ _0\"></span>essere determinato <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>sufficiente <span class=\"_ _0\"></span>attendibilit\u00e0. <span class=\"_ _0\"></span>A meno che la possibilit\u00e0 di un esborso per l'adempimento sia remota, viene fornita una descrizione della natura della passivit\u00e0 potenziale. 2.7.15.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Dividendi I <span class=\"_ _22\"></span>dividendi <span class=\"_ _22\"></span>d<span class=\"ff5d\">a <span class=\"_ _22\"></span>distribui<span class=\"_ _0\"></span>re <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>riconosciuti <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>solo <span class=\"_ _0\"></span>nell\u2019esercizio <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>quale <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>stessi <span class=\"_ _22\"></span>sono </span>stati <span class=\"_ _2b\"></span>deliberat<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>dall\u2019<span class=\"_ _0\"></span>Assemblea <span class=\"_ _2b\"></span>degli Azionisti. <span class=\"_ _2b\"></span>I <span class=\"_ _29\"></span>dividendi <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>percepire <span class=\"_ _2b\"></span>sono rilevati <span class=\"_ _2b\"></span>soltanto <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stabilito il diritto a ricevere il pagamento. 2.7.16.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Riconoscimento dei ricavi<span class=\"_ _0\"></span> Il riconoscimento dei ricavi avviene attraverso le seg<span class=\"_ _0\"></span>uenti fasi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">identificazione del contratto (o dei contratti) co<span class=\"_ _0\"></span>n il cliente; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">individuazione delle obbligazioni di fare (o <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance oblig<span class=\"_ _0\"></span>ations\u201d</span><span class=\"ls7\">);</span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">determinazione del prezzo <span class=\"_ _29\"></span>della <span class=\"ff5d\">transazione: <span class=\"_ _29\"></span>il prezzo <span class=\"_ _29\"></span>della transazione <span class=\"_ _29\"></span>\u00e8 l\u2019importo <span class=\"_ _29\"></span>del corrispettivo <span class=\"_ _29\"></span>a </span></span></span>cui si ritiene di avere diritto in cambio del trasferimen<span class=\"_ _0\"></span>to al cliente dei servizi promessi;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">ripartizione del prezzo dell\u2019operazione tra le <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance obligations\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> del contratto; </span></span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56 ls7\">ri<span class=\"ls0\">conoscimento del ricavo nel momento del sod<span class=\"_ _0\"></span>disfacimento della <span class=\"ff5e\">\u201cp<span class=\"_ _0\"></span>erformance obligation\u201d<span class=\"_ _0\"></span></span>. </span></span></span>Specificatamente i ricavi possono essere ricono<span class=\"_ _0\"></span>sciuti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">in <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>momento <span class=\"_ _28\"></span>preciso, <span class=\"_ _28\"></span>quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>adempiuta <span class=\"_ _28\"></span>l\u2019obbligazione <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>fare <span class=\"_ _28\"></span>trasferendo <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>cliente <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>bene <span class=\"_ _23\"></span>o </span></span>servizio promesso <span class=\"ff5e\">(\u201cat a point in time\u201d<span class=\"_ _0\"></span></span>), o \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">nel <span class=\"_ _2b\"></span>corso<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del tempo, <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>che <span class=\"_ _2b\"></span>\u00e8 adempiuta <span class=\"_ _2b\"></span>l\u2019obbligazione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>fare, <span class=\"_ _29\"></span>trasferendo <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>cliente <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>bene </span></span>o servizio promesso (<span class=\"ff5e\">\u201cover time\u201d<span class=\"_ _0\"></span></span><span class=\"ls7\">).</span> I <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2a\"> </span>sono <span class=\"_ _2d\"> </span>rilevati <span class=\"_ _2a\"> </span>quando <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>dei <span class=\"_ _2d\"> </span>prodotti <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2a\"> </span>trasferito <span class=\"_ _2d\"> </span>all'acquirent<span class=\"_ _0\"></span>e. <span class=\"_ _2a\"> </span>Ci\u00f2 <span class=\"_ _2d\"> </span>avviene solitamente <span class=\"_ _23\"></span>quando, <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>consegna, <span class=\"_ _28\"></span>l'acquirente <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>fisicamente <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>prodotti <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>li <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>accettati, <span class=\"_ _28\"></span>e anche i rischi e i benefici significativi della propriet\u00e0 dei beni son<span class=\"_ _0\"></span>o stati trasferiti all'acquirente.<span class=\"_ _0\"></span> La <span class=\"_ _23\"></span>maggior <span class=\"_ _23\"></span>parte <span class=\"_ _23\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>Gruppo <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>costituta <span class=\"_ _23\"></span>da <span class=\"_ _28\"></span>vendite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>beni <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>pertanto <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>realizzata <span class=\"_ _28\"></span>su <span class=\"_ _23\"></span>base puntuale, <span class=\"_ _2c\"> </span>in <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2c\"></span>l'obbligo <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>prestazione <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _2d\"> </span>soddisfatto <span class=\"_ _28\"></span>al <span class=\"_ _2d\"> </span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2d\"> </span>consegna. <span class=\"_ _2c\"></span>Non <span class=\"_ _2c\"></span>esistono<span class=\"_ _0\"></span> garanzie che vadano oltre la garanzia legale.<span class=\"_ _0\"></span> Un <span class=\"_ _2b\"></span>credito <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevato <span class=\"_ _2b\"></span>non<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>appena <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>diritto <span class=\"_ _2b\"></span>incondizionato <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>corrispettivo. <span class=\"_ _2b\"></span>Al <span class=\"_ _2b\"></span>momento dell'adempimento dell'obbligazione <span class=\"_ _2b\"></span>di pre<span class=\"_ _29\"></span>stazione <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>consegna, il <span class=\"_ _2b\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _29\"></span>matura <span class=\"_ _2b\"></span>un diritto <span class=\"_ _2b\"></span>incondizionato<span class=\"_ _0\"></span> al corrispettivo. Le componenti finanziarie significative non <span class=\"_ _0\"></span>sono incluse nei contratti con<span class=\"_ _0\"></span> i clienti.  Se <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>contratti <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>clienti <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>previsti <span class=\"_ _2b\"></span>sconti <span class=\"_ _2b\"></span>sui <span class=\"_ _29\"></span>volumi, <span class=\"_ _2b\"></span>solitamente <span class=\"_ _29\"></span>concordati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>volumi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>vendita su <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>periodo <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dodici <span class=\"_ _23\"></span>mesi, <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>inclusi <span class=\"_ _23\"></span>nella <span class=\"_ _23\"></span>determinazio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>corrispettivo. <span class=\"_ _23\"></span>La <span class=\"_ _28\"></span>rilevazione <span class=\"_ _23\"></span>dei ric<span class=\"ls0\">avi <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>questi <span class=\"_ _29\"></span>casi <span class=\"_ _2b\"></span>si basa <span class=\"_ _2b\"></span>sui prezzi <span class=\"_ _2b\"></span>specificati nei <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>tratti al <span class=\"_ _2b\"></span>netto <span class=\"_ _29\"></span>degli <span class=\"_ _29\"></span>sconti <span class=\"_ _2b\"></span>sul volume <span class=\"_ _29\"></span>stimati. <span class=\"_ _2b\"></span>Gli sconti </span>sui <span class=\"_ _22\"></span>volumi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>calcolati <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>dell'importo <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>probabile. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>ricavi <span class=\"_ _22\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _23\"></span>solo <span class=\"_ _22\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>altamente probabile che non vi siano sto<span class=\"_ _0\"></span>rni significativi. I <span class=\"_ _23\"></span>redditi <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>locazione <span class=\"_ _23\"></span>degli <span class=\"_ _23\"></span>investimenti <span class=\"_ _22\"></span>immobiliari <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _22\"></span>altri <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>modo <span class=\"_ _23\"></span>lineare sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>rapporto <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>locazione. <span class=\"_ _22\"></span>I <span class=\"_ _22\"></span>canoni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>locazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _22\"></span>come altri proventi. Gli interessi <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>vengono maturati <span class=\"_ _0\"></span>su base <span class=\"_ _0\"></span>temporale <span class=\"_ _0\"></span>con riferimento <span class=\"_ _0\"></span>all'importo <span class=\"_ _0\"></span>principale e <span class=\"_ _0\"></span>al tasso<span class=\"_ _0\"></span> di interesse effettivo.  Come <span class=\"_ _28\"></span>menzionato <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>paragrafo <span class=\"_ _28\"></span>precedente, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>proventi <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>dividendi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>a ricevere il pagamento \u00e8 stato <span class=\"_ _0\"></span>legalmente stabilito. 2.7.17.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri e proventi finanzia<span class=\"_ _0\"></span>ri Gli oneri e proventi finanziari sono rilevati a conto <span class=\"_ _0\"></span>economico in base al principio della maturazione.<span class=\"_ _0\"></span> Se la <span class=\"_ _2b\"></span>produzio<span class=\"_ _0\"></span>ne di <span class=\"_ _2b\"></span>attivit\u00e0 immateriali <span class=\"_ _29\"></span>qualificate o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> attivit\u00e0 <span class=\"_ _2b\"></span>materiali si protrae <span class=\"_ _2b\"></span>per un lungo <span class=\"_ _29\"></span>periodo, gli <span class=\"_ _2b\"></span>oneri <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>verificano <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>questo <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>fino al <span class=\"_ _2b\"></span>completamento <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>rilevati <span class=\"_ _2b\"></span>come <span class=\"_ _29\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>costi di <span class=\"_ _22\"></span>produzione <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _0\"></span>IAS <span class=\"_ _23\"></span>23. <span class=\"_ _22\"></span>Alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _23\"></span>non <span class=\"_ _0\"></span>vi <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>applicazione all'interno del Gruppo. Gli <span class=\"_ _0\"></span>oneri <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>fino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>destinati <span class=\"_ _0\"></span>all'uso <span class=\"_ _0\"></span>previsto <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>essere registrati <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>ammortizzati <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>alla <span class=\"_ _2d\"> </span>loro <span class=\"_ _2d\"> </span>vita <span class=\"_ _2c\"> </span>utile <span class=\"_ _2d\"> </span>prevista. <span class=\"_ _2d\"> </span>Tutti <span class=\"_ _2c\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>altri <span class=\"_ _2c\"></span>oneri <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>correnti <span class=\"_ _2c\"> </span>sono registrati nel periodo in cui si verificano<span class=\"_ _0\"></span> nel conto economico tra le spese finanziarie.<span class=\"_ _0\"></span> 2.7.18.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Utile (perdita) per azione<span class=\"_ _0\"></span> Per <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _29\"></span>(perdita) <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>e diluita <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>azione ordinaria <span class=\"_ _2b\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>stati <span class=\"_ _29\"></span>impiegati <span class=\"_ _2b\"></span>i seguenti <span class=\"_ _29\"></span>criteri:<span class=\"ff56\"> </span>a) <span class=\"_ _97\"> </span>al <span class=\"_ _2d\"> </span>numeratore <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>utilizzato <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>risultato <span class=\"_ _2d\"> </span>economico <span class=\"_ _2d\"> </span><span class=\"ff5d\">attribuibi<span class=\"_ _0\"></span>le <span class=\"_ _2d\"> </span>all\u2019entit\u00e0 <span class=\"_ _2d\"> </span>Capogruppo <span class=\"_ _2a\"> </span>rettificato <span class=\"_ _2d\"> </span>del </span>risultato che <span class=\"_ _29\"></span>deve ess<span class=\"_ _29\"></span>ere attribuito, <span class=\"_ _29\"></span>per l\u2019anno <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>corso, alle <span class=\"_ _29\"></span>azioni di <span class=\"_ _2b\"></span>risparmio in circolazione <span class=\"_ _29\"></span>al netto delle azioni proprie di risparmio detenute direttamente o <span class=\"_ _0\"></span>tramite controllate;<span class=\"_ _0\"></span> b)<span class=\"ff58 ls0\"> <span class=\"_ _8e\"> </span><span class=\"ff56\">al denomin<span class=\"_ _0\"></span>atore <span class=\"_ _0\"></span>d<span class=\"ff5d\">ell\u2019indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>azion<span class=\"_ _0\"></span>e\u201d <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>applicata <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>media <span class=\"_ _0\"></span>ponderata <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>in </span></span></span>circolazione nell\u2019esercizio al netto delle azioni p<span class=\"_ _0\"></span>roprie;<span class=\"ff56\"> </span>c)<span class=\"ff58 ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5d\">al <span class=\"_ _22\"></span>denominatore <span class=\"_ _0\"></span>dell\u2019<span class=\"_ _0\"></span>indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _22\"></span>diluito <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>azione\u201d <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>ponderata <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>ordinarie <span class=\"_ _22\"></span>\u00e8 </span></span>rettific<span class=\"ff5d\">ata ipotizzando l\u2019emissione di nuove azioni ord<span class=\"_ _0\"></span>inarie in seguito:<span class=\"_ _0\"></span></span> i)<span class=\"ff58 ls0\"> <span class=\"_ _86\"> </span><span class=\"ff56\">alla conversione di tutti i <span class=\"ff5a\">warrant</span> eventualmente in circolazion<span class=\"_ _0\"></span>e; </span></span>ii)<span class=\"ff58 ls0\"> <span class=\"_ _3b\"> </span><span class=\"ff5d\">all\u2019esercizio di tutte le <span class=\"ff5a\">stock optio<span class=\"_ _0\"></span>n<span class=\"ff56\"> eventualmente assegnate. </span></span></span></span>In detto <span class=\"_ _29\"></span>calcolo si <span class=\"_ _29\"></span>ipotizza che <span class=\"_ _2b\"></span>le conversioni dei <span class=\"ff5a\">warrant <span class=\"ff5d\">e <span class=\"_ _29\"></span>l\u2019esercizio delle <span class=\"_ _29\"></span><span class=\"ff5a\">stock option <span class=\"_ _29\"></span><span class=\"ff56\">siano avvenuti </span></span></span></span>all\u2019inizio dell\u2019esercizio e che non<span class=\"_ _0\"></span> vi siano maggiori proventi o minori oneri derivanti da questi accadimenti.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Il calcolo <span class=\"_ _2b\"></span>al 31 dicembre <span class=\"_ _2b\"></span>2<span class=\"_ _0\"></span>022 <span class=\"ff5d\">dell\u2019utile <span class=\"_ _29\"></span>base <span class=\"_ _29\"></span>per azione <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>stato effettuato <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>siderando il <span class=\"_ _29\"></span>ris<span class=\"ff56\">ultato netto </span></span>di Gruppo <span class=\"_ _29\"></span>al netto <span class=\"_ _2b\"></span>della quota spettante alle <span class=\"_ _2b\"></span>azioni di risparmio, <span class=\"_ _29\"></span>attribuibile ai <span class=\"_ _29\"></span>possessori di <span class=\"_ _29\"></span>azioni ordinarie <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span> circolazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>nu<span class=\"_ _0\"></span>mero <span class=\"_ _23\"></span>medio <span class=\"_ _23\"></span>ponderato <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>azioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>circolazione <span class=\"_ _28\"></span>pari <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>375.974.209 <span class=\"_ _23\"></span>tenendo <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>delle eventuali <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erazioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>frazionamento <span class=\"_ _2c\"></span>e/o <span class=\"_ _2d\"> </span>raggruppamento <span class=\"_ _2c\"></span>e <span class=\"_ _2c\"> </span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2c\"></span>eventuali <span class=\"_ _2d\"> </span>aumenti/riduzioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>capitale sociale ai sensi dello IAS 33 par. 64.  2.7.19.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Conversione delle poste in va<span class=\"_ _0\"></span>luta estera La <span class=\"_ _2d\"> </span>moneta <span class=\"_ _2d\"> </span>funzionale <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>l\u2019Euro, <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>valuta <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>cui <span class=\"_ _2d\"> </span>viene <span class=\"_ _2d\"> </span>predis<span class=\"ff56\">posto <span class=\"_ _2d\"> </span>e </span>pubblicato <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>bilancio. <span class=\"_ _22\"></span>Le <span class=\"_ _22\"></span>transazioni <span class=\"_ _22\"></span>effettuate <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>uta <span class=\"_ _22\"></span>estera <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevate <span class=\"_ _22\"></span>inizialmen<span class=\"_ _0\"></span>te <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>cambio alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>dell\u2019operazione. <span class=\"_ _22\"></span>Alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _0\"></span>monetarie <span class=\"_ _22\"></span>denominate <span class=\"_ _22\"></span>in valuta <span class=\"_ _0\"></span>estera son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>convertite <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>di cambio <span class=\"_ _0\"></span>vi<span class=\"_ _0\"></span>gente a <span class=\"_ _0\"></span>tale <span class=\"_ _0\"></span>data. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partite <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>monetarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo storico <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _0\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>convertite <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cambio <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>vigore <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>dell\u2019<span class=\"_ _0\"></span>operazione. <span class=\"_ _22\"></span>Le<span class=\"_ _0\"></span> partite <span class=\"_\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_\"> </span>monetarie <span class=\"_ _8b\"> </span>is<span class=\"_ _0\"></span>critte <span class=\"_\"> </span>al <span class=\"_ _2e\"> </span>fair <span class=\"_\"> </span>valu<span class=\"_ _0\"></span>e <span class=\"_\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_\"> </span>con<span class=\"_ _0\"></span>vertite <span class=\"_ _2e\"> </span>utilizzando <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span>tasso <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>cambio <span class=\"_ _8b\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_\"> </span>di determinazione del valore di bilancio<span class=\"_ _0\"></span>. Le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>denominate <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>ta <span class=\"_ _23\"></span>estera <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>convertite <span class=\"_ _23\"></span>utilizzando <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>momento dell'operazione. <span class=\"_ _23\"></span>Il <span class=\"_ _22\"></span>momento <span class=\"_ _23\"></span>dell'operazione <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>determi<span class=\"_ _0\"></span>nazione <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>utilizzare <span class=\"_ _22\"></span>al<span class=\"_ _0\"></span> momento della <span class=\"_ _29\"></span>rilevazione iniziale <span class=\"_ _29\"></span>della relativa <span class=\"_ _29\"></span>attivit\u00e0, costo <span class=\"_ _29\"></span>o ricavo <span class=\"_ _29\"></span>(o parte <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>esso) \u00e8 <span class=\"_ _2b\"></span>la data in cui <span class=\"_ _29\"></span>l'entit\u00e0 rileva inizialmente <span class=\"_ _2b\"></span>l'attivit\u00e0 non moneta<span class=\"_ _29\"></span>ria o <span class=\"_ _2b\"></span>la passivit\u00e0 <span class=\"_ _29\"></span>non monetaria <span class=\"_ _2b\"></span>derivante dal pagamento o <span class=\"_ _2b\"></span>dall'incasso<span class=\"_ _0\"></span> di <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>anticipato. <span class=\"_ _22\"></span>Di <span class=\"_ _23\"></span>conseguenza, <span class=\"_ _23\"></span>tali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>monetarie <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertite <span class=\"_ _22\"></span>al tasso di cambio di una successiva data di b<span class=\"_ _0\"></span>ilancio. Nel caso di anticipi ricevuti per la vendita <span class=\"_ _29\"></span>di beni, questa transazione viene registrata per la prima volta come pa<span class=\"_ _0\"></span>ssivit\u00e0 <span class=\"_ _0\"></span>contrattuale <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>ven<span class=\"_ _0\"></span>gono <span class=\"_ _0\"></span>ricevuti <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>anticipi. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cambio <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>l'impo<span class=\"_ _0\"></span>rto della <span class=\"_ _2d\"> </span>successiva <span class=\"_ _2d\"> </span>rilevazione <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>l'ammont<span class=\"_ _0\"></span>are <span class=\"_ _2d\"> </span>dell'anticipo <span class=\"_ _2d\"> </span>ricevuto <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>quindi <span class=\"_ _2c\"></span>gi\u00e0 <span class=\"_ _2d\"> </span>determinato <span class=\"_ _2d\"> </span>al momento della rilevazione della passivit\u00e0 contrattuale.<span class=\"_ _0\"></span> Le voci <span class=\"_ _2b\"></span>monetarie (compresi i <span class=\"_ _29\"></span>crediti <span class=\"_ _29\"></span>e i <span class=\"_ _2b\"></span>debiti commerciali) sono <span class=\"_ _29\"></span>convertite al <span class=\"_ _2b\"></span>tasso di cambio <span class=\"_ _2b\"></span>corrente<span class=\"_ _0\"></span> alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>bilancio.<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>In<span class=\"_ _0\"></span>dipendentemente <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>eventuali <span class=\"_ _28\"></span>coperture <span class=\"_ _28\"></span>valutarie, <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>uti<span class=\"_ _22\"></span>li <span class=\"_ _23\"></span>o <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>perdite derivanti <span class=\"_ _29\"></span>dalla <span class=\"_ _2b\"></span>rimisura<span class=\"_ _0\"></span>zione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 monetarie <span class=\"_ _2b\"></span>(esclusa la <span class=\"_ _2b\"></span>conversione in <span class=\"_ _2b\"></span>valuta <span class=\"_ _29\"></span>estera <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>gli <span class=\"_ _29\"></span>investimenti netti) e delle passivit\u00e0 monetarie sono rilevati nel con<span class=\"_ _0\"></span>to economico come proventi o o<span class=\"_ _0\"></span>neri finanziari.<span class=\"_ _0\"></span> Applicando <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>concetto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valuta <span class=\"_ _23\"></span>funzionale, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>bilanci <span class=\"_ _23\"></span>annuali <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>estere <span class=\"_ _23\"></span>redatti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>valuta estera sono convertiti in euro utilizzando il metod<span class=\"_ _0\"></span>o del tasso di chiusura modificato.<span class=\"_ _0\"></span> La <span class=\"_ _2c\"></span>valuta <span class=\"_ _2c\"></span>funzionale <span class=\"_ _2c\"> </span>\u00e8 <span class=\"_ _2d\"> </span>determinata <span class=\"_ _28\"></span>dall'ambient<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>economico <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>imario <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>cui <span class=\"_ _2c\"> </span>l'entit\u00e0 <span class=\"_ _2c\"> </span>o<span class=\"_ _22\"></span>pera. <span class=\"_ _2c\"></span>Tutte <span class=\"_ _2c\"></span>le controllate <span class=\"_ _2b\"></span>svolgono <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>propria <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>modo <span class=\"_ _2b\"></span>indipendente <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>rispettivi <span class=\"_ _2b\"></span>mercati <span class=\"_ _2b\"></span>nazionali.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Pertanto, <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valuta funzionale di <span class=\"_ _0\"></span>tali entit\u00e0 <span class=\"_ _0\"></span>\u00e8 la <span class=\"_ _0\"></span>valuta lo<span class=\"_ _0\"></span>cale. Le attiv<span class=\"_ _0\"></span>it\u00e0 e le <span class=\"_ _0\"></span>passivit\u00e0 delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>convertite al tasso <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> cambio di <span class=\"_ _29\"></span>chiusura alla <span class=\"_ _2b\"></span>data di chiusura <span class=\"_ _29\"></span>del bilancio, <span class=\"_ _2b\"></span>mentre i ricavi <span class=\"_ _29\"></span>e i <span class=\"_ _2b\"></span>costi sono convertiti <span class=\"_ _29\"></span>al tasso <span class=\"_ _2b\"></span>di cambio medio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riferimento. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenze <span class=\"_ _2b\"></span>derivanti <span class=\"_ _2b\"></span>da <span class=\"_ _2b\"></span>tali <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>versioni <span class=\"_ _2b\"></span>applicate <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>attivit\u00e0, <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>passiv<span class=\"_ _0\"></span>it\u00e0 e <span class=\"_\"> </span>alle <span class=\"_ _8b\"> </span>compo<span class=\"_ _0\"></span>nenti <span class=\"_\"> </span>dell'utile<span class=\"_ _0\"></span> <span class=\"_ _8b\"> </span>netto <span class=\"_ _8b\"> </span>sono <span class=\"_ _8b\"> </span>riportate <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _8b\"> </span>nel <span class=\"_ _2e\"> </span>conto <span class=\"_ _8b\"> </span>economico <span class=\"_ _8b\"> </span>complessivo<span class=\"_ _0\"></span> <span class=\"_\"> </span><span class=\"ls3\">e <span class=\"_ _2e\"> </span></span>di conseguenza <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>hanno <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>impatto <span class=\"_ _22\"></span>sull'utile <span class=\"_ _0\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019esercizio<span class=\"_ _0\"></span></span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _22\"></span>differenze <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>rilevate <span class=\"_ _0\"></span>nell'utile <span class=\"_ _0\"></span>netto al momento della realizzazione<span class=\"_ _0\"></span>. 2.7.20.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Contributi pubblici I contributi pubblici sono <span class=\"_ _29\"></span>riconosciuti solo <span class=\"_ _29\"></span>se \u00e8 <span class=\"_ _29\"></span>ragionevolmente certo che siano rispettate le <span class=\"_ _29\"></span>condizioni e che i contributi s<span class=\"ls9\">ia<span class=\"ls1\">no </span></span>effettivamente ricevuti. I cont<span class=\"_ _0\"></span>ributi sono rilevati nell'utile netto nello stesso periodo in cui vengono rilevati i rispettivi costi<span class=\"_ _0\"></span>.  I <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>tributi <span class=\"_ _23\"></span>pubblici <span class=\"_ _22\"></span>relativi <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>attivit\u00e0, <span class=\"_ _22\"></span>principalmente <span class=\"_ _23\"></span>immobili, <span class=\"_ _23\"></span>impianti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>macchinari, <span class=\"_ _22\"></span>so<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>dedotti dal costo dell'attivit\u00e0. Le sovvenzioni <span class=\"_ _0\"></span>che diventano <span class=\"_ _0\"></span>esigibili a titolo <span class=\"_ _0\"></span>di compensazione <span class=\"_ _0\"></span>di spese <span class=\"_ _0\"></span>o perdite gi\u00e0 <span class=\"_ _0\"></span>sostenute o <span class=\"_ _0\"></span>allo scopo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _0\"></span>un <span class=\"_ _22\"></span>sostegno <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziario <span class=\"_ _0\"></span>immediato <span class=\"_ _22\"></span>senza <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>futuri <span class=\"_ _0\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>contabilizzate <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>proventi operativi nel periodo in cui diventano esigibili per <span class=\"_ _0\"></span>il Gruppo<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__29-1": {
   "value": "2.7.1.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Immobili, impianti e macchinari </span></span>2.7.1.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Beni strumenta<span class=\"_ _0\"></span>li di propriet\u00e0 Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>macchinari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo <span class=\"_ _0\"></span>d\u2019acquisizione <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>produzione, <span class=\"_ _0\"></span>comprensivo degli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>acce<span class=\"_ _29\"></span>ssori <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>diretta <span class=\"_ _23\"></span>imputazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>esposti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>relativi <span class=\"_ _28\"></span>ammortamenti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>eventuali perdite di valore determina<span class=\"_ _0\"></span>te secondo le mod<span class=\"_ _0\"></span>alit\u00e0 descritte in <span class=\"_ _0\"></span>seguito. Se un<span class=\"_ _0\"></span> elemento di immobili,<span class=\"_ _0\"></span> impianti e macchinari <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _2c\"></span>composto <span class=\"_ _2c\"></span>da <span class=\"_ _2c\"></span>vari <span class=\"_ _28\"></span>compo<span class=\"_ _0\"></span>nenti <span class=\"_ _2c\"></span>aventi <span class=\"_ _28\"></span>vite <span class=\"_ _2c\"></span>utili <span class=\"_ _2c\"></span>differenti, <span class=\"_ _28\"></span>tali <span class=\"_ _2c\"></span>componenti <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>contabilizzati separatamente. Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>macchinari sono <span class=\"_ _22\"></span>valutati <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo, <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _0\"></span>ammortamenti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>perdite di valore <span class=\"_ _0\"></span>accumulate, ad <span class=\"_ _0\"></span>eccezione dei <span class=\"_ _0\"></span>terreni che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>sono ammortizzati <span class=\"_ _0\"></span>e che <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>valutati al <span class=\"_ _0\"></span>costo al <span class=\"_ _0\"></span>netto delle perdite di valore accumulate. I <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>manutenzione <span class=\"_ _2f\"> </span>ordinaria <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>spesati <span class=\"_ _2f\"> </span>nell\u2019esercizio <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>sostenimento <span class=\"_ _2f\"> </span>mentre <span class=\"_ _2f\"> </span>i <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di sostituzione <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>alcune <span class=\"_ _0\"></span>parti <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>immobilizzazioni <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>manutenzione <span class=\"_ _0\"></span>straord<span class=\"_ _0\"></span>inaria <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>capitalizzati quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>probabile <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>derivino <span class=\"_ _23\"></span>futuri <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>misurabili. <span class=\"_ _23\"></span>Gli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>relativi all\u2019acquisto di immobilizzazioni sono<span class=\"_ _0\"></span> capitalizzati ai sensi dello IAS 23.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Gli ammortamenti sono contabilizzati a partire d<span class=\"_ _0\"></span>al mese in cui il cespite \u00e8 disponibile per l\u2019uso, oppure \u00e8 <span class=\"_ _22\"></span>potenzialmente <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>grado <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>economici <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>esso <span class=\"_ _22\"></span>associati. <span class=\"_ _22\"></span>Sono<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>imputati <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>mensile <span class=\"_ _22\"></span>a quote costanti fino ad esaurimento della vita utile, <span class=\"_ _0\"></span>oppure, per le dismissioni, fino all\u2019ultimo mese di utilizzo.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>La vi<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>utile \u00e8 <span class=\"_ _0\"></span>costantemente <span class=\"_ _0\"></span>verificata <span class=\"_ _0\"></span>tene<span class=\"_ _0\"></span><span class=\"ff5d\">ndo <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>considerazione <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>cambiamenti <span class=\"_ _0\"></span>nell\u2019intensit\u00e0 </span>di <span class=\"_ _2d\"> </span>utilizzo <span class=\"_ _2d\"> </span>dei <span class=\"_ _2a\"> </span>beni <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>eventuali <span class=\"_ _2d\"> </span>cambiamenti <span class=\"_ _2a\"> </span>ai <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>d\u2019ammortamento <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>apportati <span class=\"_ _2d\"> </span>con <span class=\"_ _2d\"> </span>applicazione prospettica. Gli ammortamenti sono calcolati in base alle seguenti <span class=\"_ _0\"></span>vite utili: Fabbricati da 25 a 50 anni Impianti e macchinari da 10 a 40 anni Altre attrezzature da 5 a 15 anni Al momento della dismissione, il costo e il corrispon<span class=\"_ _0\"></span>dente ammortamento accumulato vengono eliminati; eventuali utili o perdite vengono registrati <span class=\"_ _0\"></span>nel conto economico.2.7.3.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 immateriali </span></span>Le attivit\u00e0 <span class=\"_ _29\"></span>immateriali sono <span class=\"_ _29\"></span>attivit\u00e0 non <span class=\"_ _2b\"></span>monetarie, identificabili e prive <span class=\"_ _29\"></span>di co<span class=\"_ _29\"></span>nsistenza <span class=\"_ _29\"></span>fisica, possedute per essere <span class=\"_ _2b\"></span>ut<span class=\"_ _0\"></span>ilizzate in <span class=\"_ _29\"></span>un periodo <span class=\"_ _29\"></span>pluriennale <span class=\"_ _29\"></span>o indefinito. <span class=\"_ _29\"></span>Sono <span class=\"_ _29\"></span>iscritte al <span class=\"_ _2b\"></span>costo<span class=\"_ _0\"></span>, rettificato per <span class=\"_ _29\"></span>eventuali oneri accessori <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _22\"></span>attribuibili <span class=\"_ _22\"></span>all\u2019attivit\u00e0 <span class=\"_ _23\"></span>si <span class=\"_ _22\"></span>realizzino <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>se <span class=\"_ _0\"></span>il <span class=\"_ _23\"></span>costo dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>stessa <span class=\"_ _0\"></span>pu<span class=\"_ _0\"></span>\u00f2 <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>determinato <span class=\"_ _0\"></span>attendib<span class=\"_ _0\"></span>ilmente. <span class=\"_ _0\"></span>In <span class=\"_ _22\"></span>caso <span class=\"_ _0\"></span>contrario <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>costo <span class=\"_ _22\"></span>dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>immaterial<span class=\"_ _22\"></span><span class=\"ff56 ls6\">e </span>\u00e8 rilevato a conto economico nell\u2019esercizio in cui<span class=\"_ _0\"></span> \u00e8 stato sostenuto.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__30": {
   "value": "2.7.1.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Beni strumenta<span class=\"_ _0\"></span>li di propriet\u00e0 Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>macchinari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo <span class=\"_ _0\"></span>d\u2019acquisizione <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>produzione, <span class=\"_ _0\"></span>comprensivo degli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>acce<span class=\"_ _29\"></span>ssori <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>diretta <span class=\"_ _23\"></span>imputazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>esposti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>relativi <span class=\"_ _28\"></span>ammortamenti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>eventuali perdite di valore determina<span class=\"_ _0\"></span>te secondo le mod<span class=\"_ _0\"></span>alit\u00e0 descritte in <span class=\"_ _0\"></span>seguito. Se un<span class=\"_ _0\"></span> elemento di immobili,<span class=\"_ _0\"></span> impianti e macchinari <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _2c\"></span>composto <span class=\"_ _2c\"></span>da <span class=\"_ _2c\"></span>vari <span class=\"_ _28\"></span>compo<span class=\"_ _0\"></span>nenti <span class=\"_ _2c\"></span>aventi <span class=\"_ _28\"></span>vite <span class=\"_ _2c\"></span>utili <span class=\"_ _2c\"></span>differenti, <span class=\"_ _28\"></span>tali <span class=\"_ _2c\"></span>componenti <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>contabilizzati separatamente. Gli <span class=\"_ _0\"></span>immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>macchinari sono <span class=\"_ _22\"></span>valutati <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo, <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _0\"></span>ammortamenti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>perdite di valore <span class=\"_ _0\"></span>accumulate, ad <span class=\"_ _0\"></span>eccezione dei <span class=\"_ _0\"></span>terreni che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>sono ammortizzati <span class=\"_ _0\"></span>e che <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>valutati al <span class=\"_ _0\"></span>costo al <span class=\"_ _0\"></span>netto delle perdite di valore accumulate. I <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di <span class=\"_ _2f\"> </span>manutenzione <span class=\"_ _2f\"> </span>ordinaria <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>spesati <span class=\"_ _2f\"> </span>nell\u2019esercizio <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>sostenimento <span class=\"_ _2f\"> </span>mentre <span class=\"_ _2f\"> </span>i <span class=\"_ _2e\"> </span>costi <span class=\"_ _2f\"> </span>di sostituzione <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>alcune <span class=\"_ _0\"></span>parti <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>immobilizzazioni <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>manutenzione <span class=\"_ _0\"></span>straord<span class=\"_ _0\"></span>inaria <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>capitalizzati quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>probabile <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>derivino <span class=\"_ _23\"></span>futuri <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>misurabili. <span class=\"_ _23\"></span>Gli <span class=\"_ _23\"></span>oneri <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>relativi all\u2019acquisto di immobilizzazioni sono<span class=\"_ _0\"></span> capitalizzati ai sensi dello IAS 23.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Gli ammortamenti sono contabilizzati a partire d<span class=\"_ _0\"></span>al mese in cui il cespite \u00e8 disponibile per l\u2019uso, oppure \u00e8 <span class=\"_ _22\"></span>potenzialmente <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>grado <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>economici <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>esso <span class=\"_ _22\"></span>associati. <span class=\"_ _22\"></span>Sono<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>imputati <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>mensile <span class=\"_ _22\"></span>a quote costanti fino ad esaurimento della vita utile, <span class=\"_ _0\"></span>oppure, per le dismissioni, fino all\u2019ultimo mese di utilizzo.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>La vi<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>utile \u00e8 <span class=\"_ _0\"></span>costantemente <span class=\"_ _0\"></span>verificata <span class=\"_ _0\"></span>tene<span class=\"_ _0\"></span><span class=\"ff5d\">ndo <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>considerazione <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>cambiamenti <span class=\"_ _0\"></span>nell\u2019intensit\u00e0 </span>di <span class=\"_ _2d\"> </span>utilizzo <span class=\"_ _2d\"> </span>dei <span class=\"_ _2a\"> </span>beni <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>eventuali <span class=\"_ _2d\"> </span>cambiamenti <span class=\"_ _2a\"> </span>ai <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>d\u2019ammortamento <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>apportati <span class=\"_ _2d\"> </span>con <span class=\"_ _2d\"> </span>applicazione prospettica. Gli ammortamenti sono calcolati in base alle seguenti <span class=\"_ _0\"></span>vite utili: Fabbricati da 25 a 50 anni Impianti e macchinari da 10 a 40 anni Altre attrezzature da 5 a 15 anni Al momento della dismissione, il costo e il corrispon<span class=\"_ _0\"></span>dente ammortamento accumulato vengono eliminati; eventuali utili o perdite vengono registrati <span class=\"_ _0\"></span>nel conto economico. <span class=\"_ _0\"></span> 2.7.1.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Immobilizzazioni <span class=\"_ _0\"></span>in leasing  Un contratto, <span class=\"_ _0\"></span>o parte <span class=\"_ _0\"></span>di esso, <span class=\"_ _0\"></span>\u00e8 classificato <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _0\"></span>se, in cambio <span class=\"_ _0\"></span>di un <span class=\"_ _0\"></span>corrispettivo, conferisce <span class=\"_ _0\"></span>il diritto <span class=\"_ _2b\"></span>di controllare <span class=\"_ _2b\"></span>l'utilizzo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un'attivit\u00e0 specificata <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>un periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>tempo,<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>quindi, <span class=\"_ _29\"></span>se <span class=\"_ _2b\"></span>lungo tutt<span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>il periodo di utilizzo del bene si godr\u00e0 di entrambi i seguenti di<span class=\"_ _0\"></span>ritti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>di ott<span class=\"_ _29\"></span>enere <span class=\"_ _2b\"></span>sostan<span class=\"_ _0\"></span>zialmente <span class=\"_ _2b\"></span>tu<span class=\"_ _0\"></span>tti <span class=\"_ _2b\"></span>i benefici <span class=\"_ _2b\"></span>economici <span class=\"_ _29\"></span>derivanti <span class=\"_ _2b\"></span>dall'utilizzo dell'attivit\u00e0;  </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il diritto di decidere sull'utilizzo dell'attivit\u00e0.<span class=\"_ _0\"></span> </span></span>In caso di modifica dei termini e delle con<span class=\"_ _0\"></span>dizioni del contratto si procede ad una nuova valutazione p<span class=\"_ _0\"></span>er determinare se il contratto \u00e8 o contiene un leasing.<span class=\"_ _0\"></span> Il Gruppo non applica le presenti regole:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasin</span>g di attivit\u00e0 immateriali; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasing</span> a breve termine (durata minore o ugu<span class=\"_ _0\"></span>ale a 12 mesi). </span></span>Tutti <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span><span class=\"ff5a\">leasing <span class=\"_ _22\"></span></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>l'attivit\u00e0 <span class=\"_ _22\"></span>sottostante <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>modesto <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(attivit\u00e0 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>unitario <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>minore <span class=\"_ _22\"></span>o uguale a Euro 5.000) rientrano nell\u2019applicazione del mod<span class=\"_ _0\"></span>ello di calcolo del diritto d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Una <span class=\"_ _28\"></span>volta <span class=\"_ _28\"></span>verificato <span class=\"_ _2c\"></span>se <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>contratto <span class=\"_ _28\"></span>si <span class=\"_ _2c\"></span>configuri <span class=\"_ _28\"></span>quale <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>decorrenza <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>contratto vengono rilevate l'attivit\u00e0 consistente n<span class=\"_ _0\"></span>el diritto di utilizzo e la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>. La valutazione iniziale dell'attivit\u00e0 consistente nel diritto d<span class=\"_ _0\"></span>i utilizzo avviene al costo che comprende:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">l'importo della valutazione iniziale della passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _22\"></span>do<span class=\"_ _0\"></span>vuti <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _23\"></span>effettuati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>prima <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto </span></span>degli incentivi al <span class=\"ff5a\">leasing</span> ricevuti; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i costi iniziali diretti sostenuti dal locatario; e<span class=\"_ _0\"></span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">la <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>costi <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>dovranno <span class=\"_ _22\"></span>sostenere <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>smantellamento <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>l<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>rimozion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dell'attivit\u00e0 </span></span>sottostante <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>ripristino <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>sito <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>ubicata <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>rip<span class=\"_ _0\"></span>ristino <span class=\"_ _22\"></span>dell'attivit\u00e0 <span class=\"_ _23\"></span>sottostante nelle condizioni previste dai termini e dalle cond<span class=\"_ _0\"></span>izioni del <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. La <span class=\"_ _0\"></span>valutazione <span class=\"_ _22\"></span>iniziale <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>avviene <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>pagamenti <span class=\"_ _0\"></span>dovuti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>versati <span class=\"_ _2d\"> </span>a <span class=\"_ _2c\"> </span>tale<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>data. <span class=\"_ _2c\"></span>I <span class=\"_ _2d\"> </span>pagamenti <span class=\"_ _2d\"> </span>dovuti <span class=\"_ _2c\"></span>per <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span></span>leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>attualizzati <span class=\"_ _2d\"> </span>utilizzando <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>tasso <span class=\"_ _2d\"> </span>di </span>finanziamento ritenuto maggiormente rappresentativo<span class=\"_ _0\"></span> del costo del denaro.<span class=\"_ _0\"></span> La <span class=\"_ _41\"> </span>contabil<span class=\"_ _0\"></span>izzazione <span class=\"_ _41\"> </span>co<span class=\"_ _0\"></span><span class=\"ls15\">me <span class=\"_ _41\"> </span></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span> <span class=\"_ _3c\"> </span>avviene <span class=\"_ _41\"> </span>per <span class=\"_ _3c\"> </span>ogni <span class=\"_ _3c\"> </span>componente <span class=\"_ _41\"> </span>di <span class=\"_ _3c\"> </span><span class=\"ff5a\">leasing</span> <span class=\"_ _3c\"> </span>separandola <span class=\"_ _41\"> </span>dalle componenti non di <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. La <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>determinata <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>annullabile <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>vanno <span class=\"_ _22\"></span>aggiu<span class=\"_ _0\"></span>nti entrambi i seguenti periodi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _2b\"></span>coperti <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>un'opzione <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>proroga <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g<span class=\"ff56\">, <span class=\"_ _2b\"></span>se <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>ragio<span class=\"_ _0\"></span>nevole <span class=\"_ _2b\"></span>certezza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esercitare </span></span></span></span>l'opzione; e \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _23\"></span>coperti <span class=\"_ _22\"></span>dall'opzione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>risoluzione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ha <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>ragionevole <span class=\"_ _22\"></span>certezza <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>non<span class=\"_ _0\"></span> </span></span>esercitare l'opzione. In caso di <span class=\"_ _29\"></span>cambiamento del periodo <span class=\"_ _29\"></span>non annullabile del <span class=\"ff5a\">leasing</span>, <span class=\"_ _29\"></span>si provvede alla <span class=\"_ _2b\"></span>rid<span class=\"_ _0\"></span>eterminazione della durata del <span class=\"ff5a\">leasing</span>. Dopo <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>iscrizione <span class=\"_ _0\"></span>iniziale, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>dell'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>avviene <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>modello <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>costo. Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>nsistenti <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>diritto <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>utili<span class=\"_ _29\"></span>zzo <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>ammortizzate <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>contratto <span class=\"_ _22\"></span>sino <span class=\"_ _22\"></span>a<span class=\"_ _0\"></span>l termine della durata del <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. Dopo la data di decorrenza la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> \u00e8 valutata: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">aumentando il valore contabile per tener co<span class=\"_ _0\"></span>nto degli interessi sulla passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">diminuendo il valore contabile per tener co<span class=\"_ _0\"></span>nto dei pagamenti effettuati per il <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">rideterminando <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>tener <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>nuove <span class=\"_ _22\"></span>valutazioni <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>modifiche </span></span>del <span class=\"ff5a\">leasing</span> o della revisione dei pagamen<span class=\"_ _0\"></span>ti dovuti per il <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. Gli <span class=\"_ _23\"></span>interessi <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>variabili <span class=\"_ _23\"></span>dovuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>nella valutazione della passivit\u00e0 <span class=\"_ _29\"></span>del <span class=\"ff5a\">leasing</span>, sono <span class=\"_ _29\"></span>rilevati a <span class=\"_ _29\"></span>conto economico <span class=\"_ _29\"></span>nell'esercizio in cui <span class=\"_ _29\"></span>si verifica <span class=\"_ _29\"></span>l'evento o la circostanza che fa scattare i pagamen<span class=\"_ _0\"></span>ti. In bilancio <span class=\"_ _0\"></span>le attivit\u00e0 <span class=\"_ _0\"></span>consistenti <span class=\"_ _0\"></span>nel diritto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo sono <span class=\"_ _0\"></span>esposte separatamente<span class=\"_ _0\"></span> dalle <span class=\"_ _0\"></span>altre att<span class=\"_ _0\"></span>ivit\u00e0, le passivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _2c\"></span>separatamente <span class=\"_ _28\"></span>dalle <span class=\"_ _2c\"></span>altre <span class=\"_ _28\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>gli <span class=\"_ _2c\"></span>interessi <span class=\"_ _28\"></span>passivi <span class=\"_ _2c\"></span>sulla <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>del leasing<span class=\"ff56\"> <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _2e\"> </span>come <span class=\"_ _2e\"> </span>oneri <span class=\"_ _2f\"> </span>finanziari <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2e\"> </span>quota <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>ammortamento <span class=\"_ _2e\"> </span>dell'attivit\u00e0 </span>consistente nel diritto di utilizzo. 2.7.1.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Perdite di valore delle im<span class=\"_ _0\"></span>mobilizzazioni <span class=\"_ _0\"></span> In presenza di indicatori specifici di perdite di valore, immobili, impianti e macchinari sono soggetti ad una <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test<span class=\"_ _0\"></span></span>\u201d). <span class=\"_ _22\"></span>La <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>siste <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>ore <span class=\"_ _22\"></span>recuperabil<span class=\"_ _0\"></span>e dell\u2019attivit\u00e0, definito <span class=\"_ _0\"></span>come il <span class=\"_ _0\"></span>maggiore fra <span class=\"_ _0\"></span>il prezzo <span class=\"_ _0\"></span>netto di ven<span class=\"_ _0\"></span>dita e il <span class=\"_ _0\"></span>suo valore <span class=\"_ _0\"></span>d\u2019uso, <span class=\"_ _0\"></span>e nel confronto <span class=\"_ _0\"></span>con il <span class=\"_ _23\"></span>relativo <span class=\"_ _28\"></span>val<span class=\"ff5d\">ore <span class=\"_ _23\"></span>netto <span class=\"_ _28\"></span>contabile. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>recuperabile <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>maggior<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>d\u2019uso <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>suo <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span></span> dedotti <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinar<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>d\u2019uso <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>attesi <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>attualizzati <span class=\"_ _0\"></span>utilizzando<span class=\"_ _0\"></span> un <span class=\"_ _0\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto, <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>lordo <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>impost<span class=\"_ _0\"></span>e, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>rifletta <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>valutazioni <span class=\"_ _22\"></span>correnti <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>te<span class=\"_ _0\"></span>mporale del <span class=\"_\"> </span>denaro <span class=\"_ _8b\"> </span>e <span class=\"_ _2e\"> </span>dei <span class=\"_\"> </span>rischi <span class=\"_ _8b\"> </span>s<span class=\"_ _0\"></span>pecifici <span class=\"_\"> </span>dell\u2019<span class=\"_ _0\"></span>attivit\u00e0. <span class=\"_\"> </span>Se <span class=\"_ _8b\"> </span>il <span class=\"_ _8b\"> </span>valo<span class=\"_ _0\"></span>re <span class=\"_\"> </span>recuperabile <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_\"> </span>inferiore <span class=\"_ _8b\"> </span>al <span class=\"_ _8b\"> </span>va<span class=\"_ _0\"></span>lore <span class=\"_\"> </span>contabile, quest\u2019ultimo <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>recuperabile; <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>riduzione <span class=\"_ _22\"></span>viene <span class=\"_ _22\"></span>impu<span class=\"_ _0\"></span><span class=\"ff56\">tata <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>ov<span class=\"_ _0\"></span>vero <span class=\"_ _22\"></span>a </span>riserva <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>rivalutazione <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>stata <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2b\"></span>costituita in <span class=\"_ _2b\"></span>sede <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riv<span class=\"_ _0\"></span>alutazione <span class=\"_ _2b\"></span>dell\u2019attivit\u00e0 <span class=\"_ _29\"></span>interessata. Successive ed eventuali rivalutazioni seguon<span class=\"_ _0\"></span>o il percorso inverso.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__31": {
   "value": "2.7.1.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Immobilizzazioni <span class=\"_ _0\"></span>in leasing  Un contratto, <span class=\"_ _0\"></span>o parte <span class=\"_ _0\"></span>di esso, <span class=\"_ _0\"></span>\u00e8 classificato <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _0\"></span>se, in cambio <span class=\"_ _0\"></span>di un <span class=\"_ _0\"></span>corrispettivo, conferisce <span class=\"_ _0\"></span>il diritto <span class=\"_ _2b\"></span>di controllare <span class=\"_ _2b\"></span>l'utilizzo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un'attivit\u00e0 specificata <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>un periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>tempo,<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>quindi, <span class=\"_ _29\"></span>se <span class=\"_ _2b\"></span>lungo tutt<span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>il periodo di utilizzo del bene si godr\u00e0 di entrambi i seguenti di<span class=\"_ _0\"></span>ritti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>di ott<span class=\"_ _29\"></span>enere <span class=\"_ _2b\"></span>sostan<span class=\"_ _0\"></span>zialmente <span class=\"_ _2b\"></span>tu<span class=\"_ _0\"></span>tti <span class=\"_ _2b\"></span>i benefici <span class=\"_ _2b\"></span>economici <span class=\"_ _29\"></span>derivanti <span class=\"_ _2b\"></span>dall'utilizzo dell'attivit\u00e0;  </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">il diritto di decidere sull'utilizzo dell'attivit\u00e0.<span class=\"_ _0\"></span> </span></span>In caso di modifica dei termini e delle con<span class=\"_ _0\"></span>dizioni del contratto si procede ad una nuova valutazione p<span class=\"_ _0\"></span>er determinare se il contratto \u00e8 o contiene un leasing.<span class=\"_ _0\"></span> Il Gruppo non applica le presenti regole:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasin</span>g di attivit\u00e0 immateriali; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">ai <span class=\"ff5a\">leasing</span> a breve termine (durata minore o ugu<span class=\"_ _0\"></span>ale a 12 mesi). </span></span>Tutti <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span><span class=\"ff5a\">leasing <span class=\"_ _22\"></span></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>l'attivit\u00e0 <span class=\"_ _22\"></span>sottostante <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>modesto <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(attivit\u00e0 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>unitario <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>minore <span class=\"_ _22\"></span>o uguale a Euro 5.000) rientrano nell\u2019applicazione del mod<span class=\"_ _0\"></span>ello di calcolo del diritto d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Una <span class=\"_ _28\"></span>volta <span class=\"_ _28\"></span>verificato <span class=\"_ _2c\"></span>se <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>contratto <span class=\"_ _28\"></span>si <span class=\"_ _2c\"></span>configuri <span class=\"_ _28\"></span>quale <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>decorrenza <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>contratto vengono rilevate l'attivit\u00e0 consistente n<span class=\"_ _0\"></span>el diritto di utilizzo e la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>. La valutazione iniziale dell'attivit\u00e0 consistente nel diritto d<span class=\"_ _0\"></span>i utilizzo avviene al costo che comprende:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">l'importo della valutazione iniziale della passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _22\"></span>do<span class=\"_ _0\"></span>vuti <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _23\"></span>effettuati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>prima <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>netto </span></span>degli incentivi al <span class=\"ff5a\">leasing</span> ricevuti; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">i costi iniziali diretti sostenuti dal locatario; e<span class=\"_ _0\"></span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">la <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>costi <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>dovranno <span class=\"_ _22\"></span>sostenere <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>smantellamento <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>l<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>rimozion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dell'attivit\u00e0 </span></span>sottostante <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>ripristino <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>sito <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>ubicata <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>rip<span class=\"_ _0\"></span>ristino <span class=\"_ _22\"></span>dell'attivit\u00e0 <span class=\"_ _23\"></span>sottostante nelle condizioni previste dai termini e dalle cond<span class=\"_ _0\"></span>izioni del <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. La <span class=\"_ _0\"></span>valutazione <span class=\"_ _22\"></span>iniziale <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>avviene <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>pagamenti <span class=\"_ _0\"></span>dovuti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>versati <span class=\"_ _2d\"> </span>a <span class=\"_ _2c\"> </span>tale<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>data. <span class=\"_ _2c\"></span>I <span class=\"_ _2d\"> </span>pagamenti <span class=\"_ _2d\"> </span>dovuti <span class=\"_ _2c\"></span>per <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span></span>leasing<span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>attualizzati <span class=\"_ _2d\"> </span>utilizzando <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>tasso <span class=\"_ _2d\"> </span>di </span>finanziamento ritenuto maggiormente rappresentativo<span class=\"_ _0\"></span> del costo del denaro.<span class=\"_ _0\"></span> La <span class=\"_ _41\"> </span>contabil<span class=\"_ _0\"></span>izzazione <span class=\"_ _41\"> </span>co<span class=\"_ _0\"></span><span class=\"ls15\">me <span class=\"_ _41\"> </span></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span> <span class=\"_ _3c\"> </span>avviene <span class=\"_ _41\"> </span>per <span class=\"_ _3c\"> </span>ogni <span class=\"_ _3c\"> </span>componente <span class=\"_ _41\"> </span>di <span class=\"_ _3c\"> </span><span class=\"ff5a\">leasing</span> <span class=\"_ _3c\"> </span>separandola <span class=\"_ _41\"> </span>dalle componenti non di <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. La <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>determinata <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>annullabile <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>vanno <span class=\"_ _22\"></span>aggiu<span class=\"_ _0\"></span>nti entrambi i seguenti periodi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _2b\"></span>coperti <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>un'opzione <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>proroga <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span><span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g<span class=\"ff56\">, <span class=\"_ _2b\"></span>se <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>ragio<span class=\"_ _0\"></span>nevole <span class=\"_ _2b\"></span>certezza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esercitare </span></span></span></span>l'opzione; e \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">periodi <span class=\"_ _23\"></span>coperti <span class=\"_ _22\"></span>dall'opzione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>risoluzione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ha <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>ragionevole <span class=\"_ _22\"></span>certezza <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>non<span class=\"_ _0\"></span> </span></span>esercitare l'opzione. In caso di <span class=\"_ _29\"></span>cambiamento del periodo <span class=\"_ _29\"></span>non annullabile del <span class=\"ff5a\">leasing</span>, <span class=\"_ _29\"></span>si provvede alla <span class=\"_ _2b\"></span>rid<span class=\"_ _0\"></span>eterminazione della durata del <span class=\"ff5a\">leasing</span>. Dopo <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>iscrizione <span class=\"_ _0\"></span>iniziale, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>dell'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>avviene <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>modello <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>costo. Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>nsistenti <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>diritto <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>utili<span class=\"_ _29\"></span>zzo <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>ammortizzate <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>decorrenza <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>contratto <span class=\"_ _22\"></span>sino <span class=\"_ _22\"></span>a<span class=\"_ _0\"></span>l termine della durata del <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>. Dopo la data di decorrenza la passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span> \u00e8 valutata: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">aumentando il valore contabile per tener co<span class=\"_ _0\"></span>nto degli interessi sulla passivit\u00e0 del <span class=\"_ _0\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">diminuendo il valore contabile per tener co<span class=\"_ _0\"></span>nto dei pagamenti effettuati per il <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">rideterminando <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>tener <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>nuove <span class=\"_ _22\"></span>valutazioni <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>modifiche </span></span>del <span class=\"ff5a\">leasing</span> o della revisione dei pagamen<span class=\"_ _0\"></span>ti dovuti per il <span class=\"ff5a\">leasin<span class=\"_ _0\"></span>g</span>. Gli <span class=\"_ _23\"></span>interessi <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>variabili <span class=\"_ _23\"></span>dovuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span><span class=\"ff5a\">leasing</span>, <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>nella valutazione della passivit\u00e0 <span class=\"_ _29\"></span>del <span class=\"ff5a\">leasing</span>, sono <span class=\"_ _29\"></span>rilevati a <span class=\"_ _29\"></span>conto economico <span class=\"_ _29\"></span>nell'esercizio in cui <span class=\"_ _29\"></span>si verifica <span class=\"_ _29\"></span>l'evento o la circostanza che fa scattare i pagamen<span class=\"_ _0\"></span>ti. In bilancio <span class=\"_ _0\"></span>le attivit\u00e0 <span class=\"_ _0\"></span>consistenti <span class=\"_ _0\"></span>nel diritto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo sono <span class=\"_ _0\"></span>esposte separatamente<span class=\"_ _0\"></span> dalle <span class=\"_ _0\"></span>altre att<span class=\"_ _0\"></span>ivit\u00e0, le passivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span><span class=\"ff5a\">leasing</span> <span class=\"_ _2c\"></span>separatamente <span class=\"_ _28\"></span>dalle <span class=\"_ _2c\"></span>altre <span class=\"_ _28\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>gli <span class=\"_ _2c\"></span>interessi <span class=\"_ _28\"></span>passivi <span class=\"_ _2c\"></span>sulla <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>del leasing<span class=\"ff56\"> <span class=\"_ _2e\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _2e\"> </span>come <span class=\"_ _2e\"> </span>oneri <span class=\"_ _2f\"> </span>finanziari <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2e\"> </span>quota <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>ammortamento <span class=\"_ _2e\"> </span>dell'attivit\u00e0 </span>consistente nel diritto di utilizzo. 2.7.1.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Perdite di valore delle im<span class=\"_ _0\"></span>mobilizzazioni <span class=\"_ _0\"></span> In presenza di indicatori specifici di perdite di valore, immobili, impianti e macchinari sono soggetti ad una <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test<span class=\"_ _0\"></span></span>\u201d). <span class=\"_ _22\"></span>La <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>siste <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>ore <span class=\"_ _22\"></span>recuperabil<span class=\"_ _0\"></span>e dell\u2019attivit\u00e0, definito <span class=\"_ _0\"></span>come il <span class=\"_ _0\"></span>maggiore fra <span class=\"_ _0\"></span>il prezzo <span class=\"_ _0\"></span>netto di ven<span class=\"_ _0\"></span>dita e il <span class=\"_ _0\"></span>suo valore <span class=\"_ _0\"></span>d\u2019uso, <span class=\"_ _0\"></span>e nel confronto <span class=\"_ _0\"></span>con il <span class=\"_ _23\"></span>relativo <span class=\"_ _28\"></span>val<span class=\"ff5d\">ore <span class=\"_ _23\"></span>netto <span class=\"_ _28\"></span>contabile. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>recuperabile <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>maggior<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>d\u2019uso <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>suo <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span></span> dedotti <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinar<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>d\u2019uso <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>attesi <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>attualizzati <span class=\"_ _0\"></span>utilizzando<span class=\"_ _0\"></span> un <span class=\"_ _0\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto, <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>lordo <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>impost<span class=\"_ _0\"></span>e, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>rifletta <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>valutazioni <span class=\"_ _22\"></span>correnti <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>te<span class=\"_ _0\"></span>mporale del <span class=\"_\"> </span>denaro <span class=\"_ _8b\"> </span>e <span class=\"_ _2e\"> </span>dei <span class=\"_\"> </span>rischi <span class=\"_ _8b\"> </span>s<span class=\"_ _0\"></span>pecifici <span class=\"_\"> </span>dell\u2019<span class=\"_ _0\"></span>attivit\u00e0. <span class=\"_\"> </span>Se <span class=\"_ _8b\"> </span>il <span class=\"_ _8b\"> </span>valo<span class=\"_ _0\"></span>re <span class=\"_\"> </span>recuperabile <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_\"> </span>inferiore <span class=\"_ _8b\"> </span>al <span class=\"_ _8b\"> </span>va<span class=\"_ _0\"></span>lore <span class=\"_\"> </span>contabile, quest\u2019ultimo <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>recuperabile; <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>riduzione <span class=\"_ _22\"></span>viene <span class=\"_ _22\"></span>impu<span class=\"_ _0\"></span><span class=\"ff56\">tata <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>ov<span class=\"_ _0\"></span>vero <span class=\"_ _22\"></span>a </span>riserva <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>rivalutazione <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>stata <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2b\"></span>costituita in <span class=\"_ _2b\"></span>sede <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riv<span class=\"_ _0\"></span>alutazione <span class=\"_ _2b\"></span>dell\u2019attivit\u00e0 <span class=\"_ _29\"></span>interessata. Successive ed eventuali rivalutazioni seguon<span class=\"_ _0\"></span>o il percorso inverso.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__33-1": {
   "value": "2.7.1.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Perdite di valore delle im<span class=\"_ _0\"></span>mobilizzazioni <span class=\"_ _0\"></span> In presenza di indicatori specifici di perdite di valore, immobili, impianti e macchinari sono soggetti ad una <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test<span class=\"_ _0\"></span></span>\u201d). <span class=\"_ _22\"></span>La <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>siste <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>ore <span class=\"_ _22\"></span>recuperabil<span class=\"_ _0\"></span>e dell\u2019attivit\u00e0, definito <span class=\"_ _0\"></span>come il <span class=\"_ _0\"></span>maggiore fra <span class=\"_ _0\"></span>il prezzo <span class=\"_ _0\"></span>netto di ven<span class=\"_ _0\"></span>dita e il <span class=\"_ _0\"></span>suo valore <span class=\"_ _0\"></span>d\u2019uso, <span class=\"_ _0\"></span>e nel confronto <span class=\"_ _0\"></span>con il <span class=\"_ _23\"></span>relativo <span class=\"_ _28\"></span>val<span class=\"ff5d\">ore <span class=\"_ _23\"></span>netto <span class=\"_ _28\"></span>contabile. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>recuperabile <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>maggior<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>d\u2019uso <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>suo <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span></span> dedotti <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinar<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>d\u2019uso <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>attesi <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>attualizzati <span class=\"_ _0\"></span>utilizzando<span class=\"_ _0\"></span> un <span class=\"_ _0\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto, <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>lordo <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>impost<span class=\"_ _0\"></span>e, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>rifletta <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>valutazioni <span class=\"_ _22\"></span>correnti <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>te<span class=\"_ _0\"></span>mporale del <span class=\"_\"> </span>denaro <span class=\"_ _8b\"> </span>e <span class=\"_ _2e\"> </span>dei <span class=\"_\"> </span>rischi <span class=\"_ _8b\"> </span>s<span class=\"_ _0\"></span>pecifici <span class=\"_\"> </span>dell\u2019<span class=\"_ _0\"></span>attivit\u00e0. <span class=\"_\"> </span>Se <span class=\"_ _8b\"> </span>il <span class=\"_ _8b\"> </span>valo<span class=\"_ _0\"></span>re <span class=\"_\"> </span>recuperabile <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_\"> </span>inferiore <span class=\"_ _8b\"> </span>al <span class=\"_ _8b\"> </span>va<span class=\"_ _0\"></span>lore <span class=\"_\"> </span>contabile, quest\u2019ultimo <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>recuperabile; <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>riduzione <span class=\"_ _22\"></span>viene <span class=\"_ _22\"></span>impu<span class=\"_ _0\"></span><span class=\"ff56\">tata <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>ov<span class=\"_ _0\"></span>vero <span class=\"_ _22\"></span>a </span>riserva <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>rivalutazione <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>stata <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2b\"></span>costituita in <span class=\"_ _2b\"></span>sede <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riv<span class=\"_ _0\"></span>alutazione <span class=\"_ _2b\"></span>dell\u2019attivit\u00e0 <span class=\"_ _29\"></span>interessata. Successive ed eventuali rivalutazioni seguon<span class=\"_ _0\"></span>o il percorso inverso.2.7.2.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Investimenti immobiliari </span></span>Si <span class=\"_ _0\"></span>tratta <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _0\"></span>utilizzati <span class=\"_ _22\"></span>nella <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>oduzione <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>fornitura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>scopi <span class=\"_ _22\"></span>amministrativi <span class=\"_ _22\"></span>da parte del Grupp<span class=\"_ _0\"></span>o ma di <span class=\"_ _0\"></span>terreni e i <span class=\"_ _0\"></span>fabbricati detenuti <span class=\"_ _0\"></span>per ottenere canoni<span class=\"_ _0\"></span> di locazione e/o <span class=\"_ _0\"></span>per l'apprezzamento<span class=\"_ _0\"></span> del <span class=\"_ _2d\"> </span>capitale <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>vestito. <span class=\"_ _2d\"> </span>La <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>tali <span class=\"_ _2a\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>segue <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>modello <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span><span class=\"lsb\">, <span class=\"_ _2d\"> </span></span>rilevando <span class=\"_ _2a\"> </span>eventuali variazioni a conto economico e quindi non soggette a sistematico a<span class=\"_ _0\"></span>mmortamento. <span class=\"_ _0\"></span> Per <span class=\"_\"> </span>la <span class=\"_\"> </span>determinazione <span class=\"_\"> </span>del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>si <span class=\"_\"> </span>fa <span class=\"_\"> </span>riferime<span class=\"_ _29\"></span>nto <span class=\"_\"> </span>ad <span class=\"_\"> </span>un <span class=\"_\"> </span>valore <span class=\"_\"> </span>determinato <span class=\"_\"> </span>prevalentemente attraverso <span class=\"_ _22\"></span>perizie <span class=\"_ _23\"></span>esterne, <span class=\"_ _22\"></span>redatte <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>terzi <span class=\"_ _23\"></span>indipendenti <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>qualifiche <span class=\"_ _22\"></span>professionali <span class=\"_ _22\"></span>riconosciute <span class=\"_ _23\"></span>e che <span class=\"_ _2b\"></span>vantano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esperienze <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>tipol<span class=\"_ _0\"></span>ogia <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>immobili. <span class=\"_ _2b\"></span>Tali perizie <span class=\"_ _2b\"></span>si <span class=\"_ _2b\"></span>basano sul <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>metro <span class=\"_ _2b\"></span>quadrato stimato sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tazioni <span class=\"_ _0\"></span>effettuate <span class=\"_ _22\"></span>dall\u2019agenzia<span class=\"ff56\"> <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>territorio <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>immobili <span class=\"_ _22\"></span>ubicati <span class=\"_ _0\"></span>nella <span class=\"_ _22\"></span>stessa <span class=\"_ _0\"></span>area, <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>la </span>stessa <span class=\"_ _2c\"></span>destinazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2c\"> </span>considerand<span class=\"_ _0\"></span>o <span class=\"_ _2c\"></span>lo <span class=\"_ _2c\"></span>stato <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>manutenzione <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>tenuto <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>potenzialit\u00e0 <span class=\"_ _2c\"></span>immobiliari future. <span class=\"_ _23\"></span>Gli <span class=\"_ _22\"></span>utili <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dalla <span class=\"_ _22\"></span>vendita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>investimento <span class=\"_ _23\"></span>immobiliare <span class=\"_ _22\"></span>s<span class=\"_ _0\"></span>ono <span class=\"_ _23\"></span>registrati <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>conto economico.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__32": {
   "value": "2.7.1.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Perdite di valore delle im<span class=\"_ _0\"></span>mobilizzazioni <span class=\"_ _0\"></span> In presenza di indicatori specifici di perdite di valore, immobili, impianti e macchinari sono soggetti ad una <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test<span class=\"_ _0\"></span></span>\u201d). <span class=\"_ _22\"></span>La <span class=\"_ _22\"></span>verifica <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>siste <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>stima <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>ore <span class=\"_ _22\"></span>recuperabil<span class=\"_ _0\"></span>e dell\u2019attivit\u00e0, definito <span class=\"_ _0\"></span>come il <span class=\"_ _0\"></span>maggiore fra <span class=\"_ _0\"></span>il prezzo <span class=\"_ _0\"></span>netto di ven<span class=\"_ _0\"></span>dita e il <span class=\"_ _0\"></span>suo valore <span class=\"_ _0\"></span>d\u2019uso, <span class=\"_ _0\"></span>e nel confronto <span class=\"_ _0\"></span>con il <span class=\"_ _23\"></span>relativo <span class=\"_ _28\"></span>val<span class=\"ff5d\">ore <span class=\"_ _23\"></span>netto <span class=\"_ _28\"></span>contabile. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>recuperabile <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>maggior<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>d\u2019uso <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>suo <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span></span> dedotti <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinar<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>d\u2019uso <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>attesi <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>attualizzati <span class=\"_ _0\"></span>utilizzando<span class=\"_ _0\"></span> un <span class=\"_ _0\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto, <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>lordo <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>impost<span class=\"_ _0\"></span>e, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>rifletta <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>valutazioni <span class=\"_ _22\"></span>correnti <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>te<span class=\"_ _0\"></span>mporale del <span class=\"_\"> </span>denaro <span class=\"_ _8b\"> </span>e <span class=\"_ _2e\"> </span>dei <span class=\"_\"> </span>rischi <span class=\"_ _8b\"> </span>s<span class=\"_ _0\"></span>pecifici <span class=\"_\"> </span>dell\u2019<span class=\"_ _0\"></span>attivit\u00e0. <span class=\"_\"> </span>Se <span class=\"_ _8b\"> </span>il <span class=\"_ _8b\"> </span>valo<span class=\"_ _0\"></span>re <span class=\"_\"> </span>recuperabile <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_\"> </span>inferiore <span class=\"_ _8b\"> </span>al <span class=\"_ _8b\"> </span>va<span class=\"_ _0\"></span>lore <span class=\"_\"> </span>contabile, quest\u2019ultimo <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>recuperabile; <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>riduzione <span class=\"_ _22\"></span>viene <span class=\"_ _22\"></span>impu<span class=\"_ _0\"></span><span class=\"ff56\">tata <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>ov<span class=\"_ _0\"></span>vero <span class=\"_ _22\"></span>a </span>riserva <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>rivalutazione <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>stata <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ecedentemente <span class=\"_ _2b\"></span>costituita in <span class=\"_ _2b\"></span>sede <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riv<span class=\"_ _0\"></span>alutazione <span class=\"_ _2b\"></span>dell\u2019attivit\u00e0 <span class=\"_ _29\"></span>interessata. Successive ed eventuali rivalutazioni seguon<span class=\"_ _0\"></span>o il percorso inverso.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__34": {
   "value": "2.7.2.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Investimenti immobiliari </span></span>Si <span class=\"_ _0\"></span>tratta <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _0\"></span>utilizzati <span class=\"_ _22\"></span>nella <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>oduzione <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>fornitura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>scopi <span class=\"_ _22\"></span>amministrativi <span class=\"_ _22\"></span>da parte del Grupp<span class=\"_ _0\"></span>o ma di <span class=\"_ _0\"></span>terreni e i <span class=\"_ _0\"></span>fabbricati detenuti <span class=\"_ _0\"></span>per ottenere canoni<span class=\"_ _0\"></span> di locazione e/o <span class=\"_ _0\"></span>per l'apprezzamento<span class=\"_ _0\"></span> del <span class=\"_ _2d\"> </span>capitale <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>vestito. <span class=\"_ _2d\"> </span>La <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>tali <span class=\"_ _2a\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>segue <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>modello <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span><span class=\"lsb\">, <span class=\"_ _2d\"> </span></span>rilevando <span class=\"_ _2a\"> </span>eventuali variazioni a conto economico e quindi non soggette a sistematico a<span class=\"_ _0\"></span>mmortamento. <span class=\"_ _0\"></span> Per <span class=\"_\"> </span>la <span class=\"_\"> </span>determinazione <span class=\"_\"> </span>del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>si <span class=\"_\"> </span>fa <span class=\"_\"> </span>riferime<span class=\"_ _29\"></span>nto <span class=\"_\"> </span>ad <span class=\"_\"> </span>un <span class=\"_\"> </span>valore <span class=\"_\"> </span>determinato <span class=\"_\"> </span>prevalentemente attraverso <span class=\"_ _22\"></span>perizie <span class=\"_ _23\"></span>esterne, <span class=\"_ _22\"></span>redatte <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>terzi <span class=\"_ _23\"></span>indipendenti <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>qualifiche <span class=\"_ _22\"></span>professionali <span class=\"_ _22\"></span>riconosciute <span class=\"_ _23\"></span>e che <span class=\"_ _2b\"></span>vantano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>esperienze <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>tipol<span class=\"_ _0\"></span>ogia <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>immobili. <span class=\"_ _2b\"></span>Tali perizie <span class=\"_ _2b\"></span>si <span class=\"_ _2b\"></span>basano sul <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>metro <span class=\"_ _2b\"></span>quadrato stimato sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tazioni <span class=\"_ _0\"></span>effettuate <span class=\"_ _22\"></span>dall\u2019agenzia<span class=\"ff56\"> <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>territorio <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>immobili <span class=\"_ _22\"></span>ubicati <span class=\"_ _0\"></span>nella <span class=\"_ _22\"></span>stessa <span class=\"_ _0\"></span>area, <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>la </span>stessa <span class=\"_ _2c\"></span>destinazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2c\"> </span>considerand<span class=\"_ _0\"></span>o <span class=\"_ _2c\"></span>lo <span class=\"_ _2c\"></span>stato <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>manutenzione <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>tenuto <span class=\"_ _2c\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>potenzialit\u00e0 <span class=\"_ _2c\"></span>immobiliari future. <span class=\"_ _23\"></span>Gli <span class=\"_ _22\"></span>utili <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dalla <span class=\"_ _22\"></span>vendita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>investimento <span class=\"_ _23\"></span>immobiliare <span class=\"_ _22\"></span>s<span class=\"_ _0\"></span>ono <span class=\"_ _23\"></span>registrati <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>conto economico.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__36": {
   "value": "2.7.3.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 immateriali </span></span>Le attivit\u00e0 <span class=\"_ _29\"></span>immateriali sono <span class=\"_ _29\"></span>attivit\u00e0 non <span class=\"_ _2b\"></span>monetarie, identificabili e prive <span class=\"_ _29\"></span>di co<span class=\"_ _29\"></span>nsistenza <span class=\"_ _29\"></span>fisica, possedute per essere <span class=\"_ _2b\"></span>ut<span class=\"_ _0\"></span>ilizzate in <span class=\"_ _29\"></span>un periodo <span class=\"_ _29\"></span>pluriennale <span class=\"_ _29\"></span>o indefinito. <span class=\"_ _29\"></span>Sono <span class=\"_ _29\"></span>iscritte al <span class=\"_ _2b\"></span>costo<span class=\"_ _0\"></span>, rettificato per <span class=\"_ _29\"></span>eventuali oneri accessori <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>economici <span class=\"_ _22\"></span>attribuibili <span class=\"_ _22\"></span>all\u2019attivit\u00e0 <span class=\"_ _23\"></span>si <span class=\"_ _22\"></span>realizzino <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>se <span class=\"_ _0\"></span>il <span class=\"_ _23\"></span>costo dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>stessa <span class=\"_ _0\"></span>pu<span class=\"_ _0\"></span>\u00f2 <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>determinato <span class=\"_ _0\"></span>attendib<span class=\"_ _0\"></span>ilmente. <span class=\"_ _0\"></span>In <span class=\"_ _22\"></span>caso <span class=\"_ _0\"></span>contrario <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>costo <span class=\"_ _22\"></span>dell\u2019attivit\u00e0 <span class=\"_ _0\"></span>immaterial<span class=\"_ _22\"></span><span class=\"ff56 ls6\">e </span>\u00e8 rilevato a conto economico nell\u2019esercizio in cui<span class=\"_ _0\"></span> \u00e8 stato sostenuto.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__39": {
   "value": "2.7.3.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Avviamento e ag<span class=\"_ _0\"></span>gregazioni aziendali L\u2019avviamento <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riferisce <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>differenza <span class=\"_ _28\"></span>fra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>acquisizione <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _28\"></span>ed <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore corrente <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>attivit\u00e0, <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>trollata <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _28\"></span>L'avviamento derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>aggregazioni <span class=\"_ _2f\"> </span>aziendali <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _2e\"> </span>contabilizzato <span class=\"_ _2f\"> </span>come <span class=\"_ _2e\"> </span>attivit\u00e0 <span class=\"_ _2e\"> </span>al <span class=\"_ _2e\"> </span>costo <span class=\"_ _2f\"> </span>al <span class=\"_ _2e\"> </span>netto <span class=\"_ _2e\"> </span>delle <span class=\"_ _2e\"> </span>svalutazioni accumulate. <span class=\"_ _41\"> </span>La <span class=\"_ _3c\"> </span>vita <span class=\"_ _41\"> </span>utile <span class=\"_ _3c\"> </span>dell'avviamento <span class=\"_ _41\"> </span>\u00e8 <span class=\"_ _3c\"> </span>indefinita, <span class=\"_ _41\"> </span>e <span class=\"_ _41\"> </span>quindi <span class=\"_ _3c\"> </span>esso <span class=\"_ _41\"> </span>non <span class=\"_ _3c\"> </span>\u00e8 <span class=\"_ _41\"> </span>soggetto <span class=\"_ _41\"> </span>a <span class=\"_ _3c\"> </span>processo <span class=\"_ _41\"> </span>di ammortamento. Un\u2019aggregazione <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>imprese <span class=\"_ _22\"></span>consiste <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>un\u2019unione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>imprese <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>aziendali <span class=\"_ _22\"></span>distin<span class=\"_ _0\"></span>te <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>unico soggetto <span class=\"_ _2f\"> </span>tenuto <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>redazione <span class=\"_ _2f\"> </span>del <span class=\"_ _2e\"> </span>bilancio. <span class=\"_ _2f\"> </span>L\u2019aggregazione <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2f\"> </span>pu\u00f2 <span class=\"_ _2f\"> </span>dar <span class=\"_ _2f\"> </span>luogo <span class=\"_ _2e\"> </span>ad <span class=\"_ _2f\"> </span>un <span class=\"_ _2f\"> </span>legame partecipativo <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"></span>capogru<span class=\"ff5d\">ppo <span class=\"_ _2d\"> </span>(acquirente) <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>controllata <span class=\"_ _2c\"> </span>(acquisita) <span class=\"_ _2d\"> </span>ovvero <span class=\"_ _2c\"> </span>pu\u00f2 <span class=\"_ _2d\"> </span>anche <span class=\"_ _2d\"> </span>prevedere <span class=\"_ _2c\"> </span>l\u2019acquisto </span>dell\u2019attivo netto di un\u2019altra impresa, incluso l\u2019ev<span class=\"_ _0\"></span>entuale avviamento.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>ha <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _28\"></span>l'approccio <span class=\"_ _28\"></span>contabile <span class=\"_ _2c\"></span>dell'acquisizione <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>aggregazioni <span class=\"_ _28\"></span>aziendali <span class=\"_ _28\"></span>secondo<span class=\"_ _0\"></span> l'<span class=\"ls0\">IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>analogia <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>comune; <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>tale <span class=\"_ _23\"></span>appro<span class=\"_ _0\"></span>ccio, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>corrispettivo </span>trasferito per l'investimento viene confrontato con le attivit\u00e0 nette della partecipata, che vengono rimisurate al fair <span class=\"_ _2c\"></span>value<span class=\"ff56\">. <span class=\"_ _2d\"> </span>Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _2d\"> </span>nette <span class=\"_ _28\"></span>sono <span class=\"_ _2d\"> </span>basate <span class=\"_ _28\"></span>sui <span class=\"_ _2d\"> </span></span>fair <span class=\"_ _2c\"></span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _28\"></span>e <span class=\"_ _2d\"> </span>delle <span class=\"_ _28\"></span>passivi<span class=\"_ _0\"></span>t\u00e0, <span class=\"_ _2c\"></span>comprese <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>attivit\u00e0 </span>immateriali identificabili e le passivit\u00e0 potenziali d<span class=\"_ _0\"></span>a riconoscere come pas<span class=\"_ _0\"></span>sivit\u00e0 alla data di acquisizion<span class=\"_ _0\"></span>e. Se <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>possibile <span class=\"_ _2b\"></span>ottenere <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>borsa <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato <span class=\"_ _2b\"></span>pubblicati <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>l'allocazione<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>prezzo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>acquisto (Purchase Price <span class=\"_ _2b\"></span>Allocation<span class=\"_ _0\"></span> o <span class=\"_ _2b\"></span>\u201cPPA\u201d), i <span class=\"ff5a\">fair <span class=\"_ _2b\"></span>valu<span class=\"_ _0\"></span>e<span class=\"ff56\"> sono <span class=\"_ _2b\"></span>calcolati sulla base <span class=\"_ _2b\"></span>di tecniche di <span class=\"_ _2b\"></span>valutazion<span class=\"_ _0\"></span>e adeguate. </span></span>In <span class=\"_ _22\"></span>genere, <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>utilizza <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>sco<span class=\"_ _0\"></span>ntati <span class=\"_ _22\"></span>(\u201cDCF\u201d); <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>questo <span class=\"_ _22\"></span>metodo, <span class=\"_ _23\"></span>i flussi <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>cassa <span class=\"_ _49\"> </span>futuri <span class=\"_ _49\"> </span>attesi <span class=\"_ _3c\"> </span>che<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _49\"> </span>essere <span class=\"_ _3c\"> </span>gen<span class=\"_ _0\"></span>erati <span class=\"_ _3c\"> </span>dall'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _3c\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>attualizzati <span class=\"_ _3c\"> </span>alla <span class=\"_ _49\"> </span>data <span class=\"_ _49\"> </span>del consolidamento iniziale utilizzando un ta<span class=\"_ _0\"></span>sso di sconto che riflette il rischio intrinseco dell'attivit\u00e0.<span class=\"_ _0\"></span> L'eventuale <span class=\"_ _2b\"></span>e<span class=\"_ _0\"></span>ccedenza <span class=\"_ _2b\"></span>del corrispettivo <span class=\"_ _2b\"></span>trasferito <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>l'attivit\u00e0 acquisita <span class=\"_ _2b\"></span>rispetto <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>quota <span class=\"_ _29\"></span>proporzionale delle attivit\u00e0 nette acquisite viene <span class=\"_ _29\"></span>rilevata separatamente come avviamento; l'eventuale differenza negativa, al momento <span class=\"_ _2f\"> </span>de<span class=\"_ _0\"></span>lla <span class=\"_ _41\"> </span>rivalutazione <span class=\"_ _41\"> </span>delle <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _41\"> </span>e <span class=\"_ _2f\"> </span>passi<span class=\"_ _0\"></span>vit\u00e0 <span class=\"_ _41\"> </span>acquisite, <span class=\"_ _2f\"> </span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _2f\"> </span>im<span class=\"_ _0\"></span>putata <span class=\"_ _41\"> </span>direttamente <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>co<span class=\"_ _0\"></span>nto economico. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>minoranza <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>valutate <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>loro <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>orzionale <span class=\"_ _0\"></span>dei <span class=\"_ _23\"></span><span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _28\"></span>nette <span class=\"_ _28\"></span>acquisite<span class=\"lsb\">. <span class=\"_ _28\"></span></span>I <span class=\"_ _23\"></span>costi <span class=\"_ _28\"></span>accessori, <span class=\"_ _28\"></span>quali <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>consulenti, <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>aggregazion <span class=\"_ _28\"></span>aziendali <span class=\"_ _23\"></span>s<span class=\"_ _0\"></span>ono imputati a costo quando sostenuti<span class=\"lsb\">. </span> Le <span class=\"_ _0\"></span>successive <span class=\"_ _0\"></span>variazioni <span class=\"_ _22\"></span>delle partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>consolidate <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>comportano <span class=\"_ _0\"></span>un cambiamento del metodo di con<span class=\"_ _0\"></span>solidamento sono trattate come operazioni sul capitale proprio.<span class=\"_ _0\"></span> La <span class=\"_ _29\"></span>recuperabilit\u00e0 <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore di <span class=\"_ _2b\"></span>iscrizion<span class=\"_ _0\"></span>e <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>verificata annualmente <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>comunque <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>si verificano eventi <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>facciano <span class=\"_ _2b\"></span>presupporre <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>eventuali <span class=\"_ _2b\"></span>svalutazioni <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>oggetto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>ripristini di valore.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__38": {
   "value": "2.7.3.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Avviamento e ag<span class=\"_ _0\"></span>gregazioni aziendali L\u2019avviamento <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>riferisce <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>differenza <span class=\"_ _28\"></span>fra <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>acquisizione <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _28\"></span>ed <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore corrente <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>attivit\u00e0, <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>trollata <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _28\"></span>L'avviamento derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>aggregazioni <span class=\"_ _2f\"> </span>aziendali <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _2e\"> </span>contabilizzato <span class=\"_ _2f\"> </span>come <span class=\"_ _2e\"> </span>attivit\u00e0 <span class=\"_ _2e\"> </span>al <span class=\"_ _2e\"> </span>costo <span class=\"_ _2f\"> </span>al <span class=\"_ _2e\"> </span>netto <span class=\"_ _2e\"> </span>delle <span class=\"_ _2e\"> </span>svalutazioni accumulate. <span class=\"_ _41\"> </span>La <span class=\"_ _3c\"> </span>vita <span class=\"_ _41\"> </span>utile <span class=\"_ _3c\"> </span>dell'avviamento <span class=\"_ _41\"> </span>\u00e8 <span class=\"_ _3c\"> </span>indefinita, <span class=\"_ _41\"> </span>e <span class=\"_ _41\"> </span>quindi <span class=\"_ _3c\"> </span>esso <span class=\"_ _41\"> </span>non <span class=\"_ _3c\"> </span>\u00e8 <span class=\"_ _41\"> </span>soggetto <span class=\"_ _41\"> </span>a <span class=\"_ _3c\"> </span>processo <span class=\"_ _41\"> </span>di ammortamento. Un\u2019aggregazione <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>imprese <span class=\"_ _22\"></span>consiste <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>un\u2019unione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>imprese <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>aziendali <span class=\"_ _22\"></span>distin<span class=\"_ _0\"></span>te <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>unico soggetto <span class=\"_ _2f\"> </span>tenuto <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>redazione <span class=\"_ _2f\"> </span>del <span class=\"_ _2e\"> </span>bilancio. <span class=\"_ _2f\"> </span>L\u2019aggregazione <span class=\"_ _2f\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2f\"> </span>pu\u00f2 <span class=\"_ _2f\"> </span>dar <span class=\"_ _2f\"> </span>luogo <span class=\"_ _2e\"> </span>ad <span class=\"_ _2f\"> </span>un <span class=\"_ _2f\"> </span>legame partecipativo <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"></span>capogru<span class=\"ff5d\">ppo <span class=\"_ _2d\"> </span>(acquirente) <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>controllata <span class=\"_ _2c\"> </span>(acquisita) <span class=\"_ _2d\"> </span>ovvero <span class=\"_ _2c\"> </span>pu\u00f2 <span class=\"_ _2d\"> </span>anche <span class=\"_ _2d\"> </span>prevedere <span class=\"_ _2c\"> </span>l\u2019acquisto </span>dell\u2019attivo netto di un\u2019altra impresa, incluso l\u2019ev<span class=\"_ _0\"></span>entuale avviamento.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>ha <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _28\"></span>l'approccio <span class=\"_ _28\"></span>contabile <span class=\"_ _2c\"></span>dell'acquisizione <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>aggregazioni <span class=\"_ _28\"></span>aziendali <span class=\"_ _28\"></span>secondo<span class=\"_ _0\"></span> l'<span class=\"ls0\">IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>analogia <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>comune; <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>tale <span class=\"_ _23\"></span>appro<span class=\"_ _0\"></span>ccio, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>corrispettivo </span>trasferito per l'investimento viene confrontato con le attivit\u00e0 nette della partecipata, che vengono rimisurate al fair <span class=\"_ _2c\"></span>value<span class=\"ff56\">. <span class=\"_ _2d\"> </span>Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _2d\"> </span>nette <span class=\"_ _28\"></span>sono <span class=\"_ _2d\"> </span>basate <span class=\"_ _28\"></span>sui <span class=\"_ _2d\"> </span></span>fair <span class=\"_ _2c\"></span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _28\"></span>e <span class=\"_ _2d\"> </span>delle <span class=\"_ _28\"></span>passivi<span class=\"_ _0\"></span>t\u00e0, <span class=\"_ _2c\"></span>comprese <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>attivit\u00e0 </span>immateriali identificabili e le passivit\u00e0 potenziali d<span class=\"_ _0\"></span>a riconoscere come pas<span class=\"_ _0\"></span>sivit\u00e0 alla data di acquisizion<span class=\"_ _0\"></span>e. Se <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>possibile <span class=\"_ _2b\"></span>ottenere <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>borsa <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato <span class=\"_ _2b\"></span>pubblicati <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>l'allocazione<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>prezzo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>acquisto (Purchase Price <span class=\"_ _2b\"></span>Allocation<span class=\"_ _0\"></span> o <span class=\"_ _2b\"></span>\u201cPPA\u201d), i <span class=\"ff5a\">fair <span class=\"_ _2b\"></span>valu<span class=\"_ _0\"></span>e<span class=\"ff56\"> sono <span class=\"_ _2b\"></span>calcolati sulla base <span class=\"_ _2b\"></span>di tecniche di <span class=\"_ _2b\"></span>valutazion<span class=\"_ _0\"></span>e adeguate. </span></span>In <span class=\"_ _22\"></span>genere, <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>utilizza <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>sco<span class=\"_ _0\"></span>ntati <span class=\"_ _22\"></span>(\u201cDCF\u201d); <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>questo <span class=\"_ _22\"></span>metodo, <span class=\"_ _23\"></span>i flussi <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>cassa <span class=\"_ _49\"> </span>futuri <span class=\"_ _49\"> </span>attesi <span class=\"_ _3c\"> </span>che<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _49\"> </span>essere <span class=\"_ _3c\"> </span>gen<span class=\"_ _0\"></span>erati <span class=\"_ _3c\"> </span>dall'<span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _3c\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>attualizzati <span class=\"_ _3c\"> </span>alla <span class=\"_ _49\"> </span>data <span class=\"_ _49\"> </span>del consolidamento iniziale utilizzando un ta<span class=\"_ _0\"></span>sso di sconto che riflette il rischio intrinseco dell'attivit\u00e0.<span class=\"_ _0\"></span> L'eventuale <span class=\"_ _2b\"></span>e<span class=\"_ _0\"></span>ccedenza <span class=\"_ _2b\"></span>del corrispettivo <span class=\"_ _2b\"></span>trasferito <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>l'attivit\u00e0 acquisita <span class=\"_ _2b\"></span>rispetto <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>quota <span class=\"_ _29\"></span>proporzionale delle attivit\u00e0 nette acquisite viene <span class=\"_ _29\"></span>rilevata separatamente come avviamento; l'eventuale differenza negativa, al momento <span class=\"_ _2f\"> </span>de<span class=\"_ _0\"></span>lla <span class=\"_ _41\"> </span>rivalutazione <span class=\"_ _41\"> </span>delle <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _41\"> </span>e <span class=\"_ _2f\"> </span>passi<span class=\"_ _0\"></span>vit\u00e0 <span class=\"_ _41\"> </span>acquisite, <span class=\"_ _2f\"> </span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _2f\"> </span>im<span class=\"_ _0\"></span>putata <span class=\"_ _41\"> </span>direttamente <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>co<span class=\"_ _0\"></span>nto economico. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>minoranza <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>valutate <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>loro <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>orzionale <span class=\"_ _0\"></span>dei <span class=\"_ _23\"></span><span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _28\"></span>nette <span class=\"_ _28\"></span>acquisite<span class=\"lsb\">. <span class=\"_ _28\"></span></span>I <span class=\"_ _23\"></span>costi <span class=\"_ _28\"></span>accessori, <span class=\"_ _28\"></span>quali <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>consulenti, <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>aggregazion <span class=\"_ _28\"></span>aziendali <span class=\"_ _23\"></span>s<span class=\"_ _0\"></span>ono imputati a costo quando sostenuti<span class=\"lsb\">. </span> Le <span class=\"_ _0\"></span>successive <span class=\"_ _0\"></span>variazioni <span class=\"_ _22\"></span>delle partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>consolidate <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>comportano <span class=\"_ _0\"></span>un cambiamento del metodo di con<span class=\"_ _0\"></span>solidamento sono trattate come operazioni sul capitale proprio.<span class=\"_ _0\"></span> La <span class=\"_ _29\"></span>recuperabilit\u00e0 <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore di <span class=\"_ _2b\"></span>iscrizion<span class=\"_ _0\"></span>e <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>verificata annualmente <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>comunque <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>si verificano eventi <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>facciano <span class=\"_ _2b\"></span>presupporre <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>eventuali <span class=\"_ _2b\"></span>svalutazioni <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>oggetto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>ripristini di valore.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__41": {
   "value": "2.7.3.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Altre attivit\u00e0 immateriali a<span class=\"_ _0\"></span> vita utile definita Riguardano <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ive <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>consistenza <span class=\"_ _22\"></span>fisica, <span class=\"_ _23\"></span>identificabili, <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>dall\u2019impresa <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>grado <span class=\"_ _23\"></span>di produrre benefici economici futuri.<span class=\"_ _0\"></span> Le attivit\u00e0 <span class=\"_ _0\"></span>immateriali sono <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>inizialmente e rispettivamente<span class=\"_ _0\"></span> al <span class=\"_ _0\"></span>costo e <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> comprensivi degli oneri di <span class=\"_ _0\"></span>diretta attribuzione. <span class=\"_ _0\"></span>Esse sono po<span class=\"_ _0\"></span>i ammortizzate sistematicamente <span class=\"_ _0\"></span>lungo la lo<span class=\"_ _0\"></span>ro vita utile intesa<span class=\"_ _0\"></span> come la <span class=\"_ _22\"></span>stima del <span class=\"_ _0\"></span>perio<span class=\"_ _0\"></span>do <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo, <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>genere <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un arco <span class=\"_ _22\"></span>temporale <span class=\"_ _0\"></span>fra <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>3 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>10 <span class=\"_ _0\"></span>anni. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>lo<span class=\"_ _0\"></span>ro valore <span class=\"_ _0\"></span>residuo<span class=\"_ _0\"></span> al termine della vita utile \u00e8 ipotizzato uguale a zero.<span class=\"_ _0\"></span> La vita utile viene riesaminata annualmente e, se necessario, le aspe<span class=\"_ _0\"></span>ttative future vengono adeguate.<span class=\"_ _0\"></span> Dette attivit\u00e0 <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>inoltre <span class=\"_ _0\"></span>espresse <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>svalutazion<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>riduzioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>adottando <span class=\"_ _0\"></span>i medesimi criteri indicati per la voce \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Immobili, impianti e macchinari<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__40": {
   "value": "2.7.3.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Altre attivit\u00e0 immateriali a<span class=\"_ _0\"></span> vita utile definita Riguardano <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ive <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>consistenza <span class=\"_ _22\"></span>fisica, <span class=\"_ _23\"></span>identificabili, <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>dall\u2019impresa <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>grado <span class=\"_ _23\"></span>di produrre benefici economici futuri.<span class=\"_ _0\"></span> Le attivit\u00e0 <span class=\"_ _0\"></span>immateriali sono <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>inizialmente e rispettivamente<span class=\"_ _0\"></span> al <span class=\"_ _0\"></span>costo e <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> comprensivi degli oneri di <span class=\"_ _0\"></span>diretta attribuzione. <span class=\"_ _0\"></span>Esse sono po<span class=\"_ _0\"></span>i ammortizzate sistematicamente <span class=\"_ _0\"></span>lungo la lo<span class=\"_ _0\"></span>ro vita utile intesa<span class=\"_ _0\"></span> come la <span class=\"_ _22\"></span>stima del <span class=\"_ _0\"></span>perio<span class=\"_ _0\"></span>do <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>utilizzo, <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>genere <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un arco <span class=\"_ _22\"></span>temporale <span class=\"_ _0\"></span>fra <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>3 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>10 <span class=\"_ _0\"></span>anni. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>lo<span class=\"_ _0\"></span>ro valore <span class=\"_ _0\"></span>residuo<span class=\"_ _0\"></span> al termine della vita utile \u00e8 ipotizzato uguale a zero.<span class=\"_ _0\"></span> La vita utile viene riesaminata annualmente e, se necessario, le aspe<span class=\"_ _0\"></span>ttative future vengono adeguate.<span class=\"_ _0\"></span> Dette attivit\u00e0 <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>inoltre <span class=\"_ _0\"></span>espresse <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>eventuali <span class=\"_ _0\"></span>svalutazion<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>riduzioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>adottando <span class=\"_ _0\"></span>i medesimi criteri indicati per la voce \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Immobili, impianti e macchinari<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d.</span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__43": {
   "value": "2.7.4.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Partecipazioni </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__42": {
   "value": "2.7.4.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Partecipazioni </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__45": {
   "value": "2.7.4.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 collegate e a controllo <span class=\"_ _0\"></span>congiunto Per societ\u00e0 <span class=\"_ _2b\"></span>collegate si <span class=\"_ _29\"></span>intendono le<span class=\"_ _29\"></span> societ\u00e0 <span class=\"_ _2b\"></span>su cui <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>Gruppo esercita <span class=\"_ _2b\"></span>un\u2019influenza notevole. <span class=\"_ _29\"></span>L\u2019influenza notevole \u00e8 <span class=\"_ _0\"></span>il potere <span class=\"_ _0\"></span>di partecipare <span class=\"_ _0\"></span>alla determina<span class=\"_ _0\"></span>zione delle <span class=\"_ _0\"></span>politiche fin<span class=\"_ _0\"></span>anziarie e <span class=\"_ _0\"></span>gestionali della <span class=\"_ _0\"></span>partecipata senza averne <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span>trollo o <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span><span class=\"ff5d\">trollo <span class=\"_ _0\"></span>congiunto. Si <span class=\"_ _0\"></span>presume l\u2019esistenza <span class=\"_ _0\"></span>di in<span class=\"_ _0\"></span>fluenza notevole <span class=\"_ _0\"></span>nel caso <span class=\"_ _0\"></span>in cui<span class=\"_ _0\"></span> </span>il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>possegga <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>percentuale <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>diritti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>voto <span class=\"_ _0\"></span>compresa <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>20% <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>50% <span class=\"_ _0\"></span>(esclusi <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>casi <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>vi <span class=\"_ _0\"></span>sia controllo congiunto). Una <span class=\"_ _22\"></span><span class=\"ff5a\">joint <span class=\"_ _0\"></span>ventu<span class=\"_ _0\"></span>re</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>acc<span class=\"_ _0\"></span>ordo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>parti <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>han<span class=\"_ _0\"></span>no <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>trollo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>dell'accordo hanno diritti sulle attivit\u00e0 nette dell'accordo stesso. Il controllo congiunto \u00e8 la condivisione del controllo di un accordo <span class=\"_ _22\"></span>concordata <span class=\"_ _22\"></span>contrattualmente, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>esiste <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>quando <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>decisioni <span class=\"_ _22\"></span>sulle<span class=\"_ _22\"></span> <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>rilevanti <span class=\"_ _22\"></span>richiedono <span class=\"_ _22\"></span>il consenso unanime delle parti che condi<span class=\"_ _0\"></span>vidono il controllo.<span class=\"_ _0\"></span> In <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>metodo <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>netto, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>collegate <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto (c.d. <span class=\"_ _29\"></span>in <span class=\"ff5a\">joint <span class=\"_ _2b\"></span>venture)<span class=\"ff56\"> sono <span class=\"_ _29\"></span>incluse <span class=\"_ _2b\"></span>nel bilancio consolidato <span class=\"_ _2b\"></span>al costo <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione, <span class=\"_ _2b\"></span>rettificato per <span class=\"_ _29\"></span>le <span class=\"_ _29\"></span>variazioni </span></span>della <span class=\"_ _29\"></span>quota <span class=\"_ _2b\"></span>del Gruppo <span class=\"_ _2b\"></span>nell'utile o <span class=\"_ _2b\"></span>nella pe<span class=\"_ _29\"></span>rdita <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>nelle altre <span class=\"_ _2b\"></span>componenti di <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico <span class=\"_ _29\"></span>complessivo <span class=\"_ _29\"></span>della joint <span class=\"_ _23\"></span>venture<span class=\"ff56\"> <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _22\"></span>collegata <span class=\"_ _23\"></span>dopo <span class=\"_ _23\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _22\"></span>Le <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un<span class=\"_ _22\"></span><span class=\"ls3\">a <span class=\"_ _23\"></span></span></span>joint <span class=\"_ _22\"></span>venture<span class=\"ff56\"> <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>un<span class=\"_ _0\"></span>a </span>societ\u00e0 <span class=\"_ _28\"></span>colle<span class=\"_ _0\"></span>gata <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>eccedono<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>quota <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>partecip<span class=\"_ _0\"></span>azione <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>tale <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _28\"></span>vengono <span class=\"_ _2c\"></span>rilevate. Vengono <span class=\"_ _2d\"> </span>rilevate <span class=\"_ _2d\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ha <span class=\"_ _2d\"> </span>assunto <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2d\"> </span>legali <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>fatto <span class=\"_ _2d\"> </span>ad <span class=\"_ _2d\"> </span>assumere <span class=\"_ _2d\"> </span>per<span class=\"_ _0\"></span>dite <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>effettua pagamenti al posto de<span class=\"_ _0\"></span>lla <span class=\"ff5a\">joint venture</span> o della societ\u00e0 collegata.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentsInJointVentures",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__44": {
   "value": "2.7.4.1.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 collegate e a controllo <span class=\"_ _0\"></span>congiunto Per societ\u00e0 <span class=\"_ _2b\"></span>collegate si <span class=\"_ _29\"></span>intendono le<span class=\"_ _29\"></span> societ\u00e0 <span class=\"_ _2b\"></span>su cui <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>Gruppo esercita <span class=\"_ _2b\"></span>un\u2019influenza notevole. <span class=\"_ _29\"></span>L\u2019influenza notevole \u00e8 <span class=\"_ _0\"></span>il potere <span class=\"_ _0\"></span>di partecipare <span class=\"_ _0\"></span>alla determina<span class=\"_ _0\"></span>zione delle <span class=\"_ _0\"></span>politiche fin<span class=\"_ _0\"></span>anziarie e <span class=\"_ _0\"></span>gestionali della <span class=\"_ _0\"></span>partecipata senza averne <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span>trollo o <span class=\"_ _0\"></span>il con<span class=\"_ _0\"></span><span class=\"ff5d\">trollo <span class=\"_ _0\"></span>congiunto. Si <span class=\"_ _0\"></span>presume l\u2019esistenza <span class=\"_ _0\"></span>di in<span class=\"_ _0\"></span>fluenza notevole <span class=\"_ _0\"></span>nel caso <span class=\"_ _0\"></span>in cui<span class=\"_ _0\"></span> </span>il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>possegga <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>percentuale <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>diritti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>voto <span class=\"_ _0\"></span>compresa <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>20% <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>50% <span class=\"_ _0\"></span>(esclusi <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>casi <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>vi <span class=\"_ _0\"></span>sia controllo congiunto). Una <span class=\"_ _22\"></span><span class=\"ff5a\">joint <span class=\"_ _0\"></span>ventu<span class=\"_ _0\"></span>re</span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>acc<span class=\"_ _0\"></span>ordo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>parti <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>han<span class=\"_ _0\"></span>no <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>trollo <span class=\"_ _22\"></span>congiunto <span class=\"_ _22\"></span>dell'accordo hanno diritti sulle attivit\u00e0 nette dell'accordo stesso. Il controllo congiunto \u00e8 la condivisione del controllo di un accordo <span class=\"_ _22\"></span>concordata <span class=\"_ _22\"></span>contrattualmente, <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>esiste <span class=\"_ _22\"></span>solo <span class=\"_ _23\"></span>quando <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>decisioni <span class=\"_ _22\"></span>sulle<span class=\"_ _22\"></span> <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>rilevanti <span class=\"_ _22\"></span>richiedono <span class=\"_ _22\"></span>il consenso unanime delle parti che condi<span class=\"_ _0\"></span>vidono il controllo.<span class=\"_ _0\"></span> In <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>metodo <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>netto, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>collegate <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto (c.d. <span class=\"_ _29\"></span>in <span class=\"ff5a\">joint <span class=\"_ _2b\"></span>venture)<span class=\"ff56\"> sono <span class=\"_ _29\"></span>incluse <span class=\"_ _2b\"></span>nel bilancio consolidato <span class=\"_ _2b\"></span>al costo <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione, <span class=\"_ _2b\"></span>rettificato per <span class=\"_ _29\"></span>le <span class=\"_ _29\"></span>variazioni </span></span>della <span class=\"_ _29\"></span>quota <span class=\"_ _2b\"></span>del Gruppo <span class=\"_ _2b\"></span>nell'utile o <span class=\"_ _2b\"></span>nella pe<span class=\"_ _29\"></span>rdita <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>nelle altre <span class=\"_ _2b\"></span>componenti di <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico <span class=\"_ _29\"></span>complessivo <span class=\"_ _29\"></span>della joint <span class=\"_ _23\"></span>venture<span class=\"ff56\"> <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _22\"></span>collegata <span class=\"_ _23\"></span>dopo <span class=\"_ _23\"></span>la <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>acquisizion<span class=\"_ _0\"></span>e. <span class=\"_ _22\"></span>Le <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>un<span class=\"_ _22\"></span><span class=\"ls3\">a <span class=\"_ _23\"></span></span></span>joint <span class=\"_ _22\"></span>venture<span class=\"ff56\"> <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>un<span class=\"_ _0\"></span>a </span>societ\u00e0 <span class=\"_ _28\"></span>colle<span class=\"_ _0\"></span>gata <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>eccedono<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>quota <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>partecip<span class=\"_ _0\"></span>azione <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>tale <span class=\"_ _2c\"></span>entit\u00e0 <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _28\"></span>vengono <span class=\"_ _2c\"></span>rilevate. Vengono <span class=\"_ _2d\"> </span>rilevate <span class=\"_ _2d\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ha <span class=\"_ _2d\"> </span>assunto <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2d\"> </span>legali <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>fatto <span class=\"_ _2d\"> </span>ad <span class=\"_ _2d\"> </span>assumere <span class=\"_ _2d\"> </span>per<span class=\"_ _0\"></span>dite <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>effettua pagamenti al posto de<span class=\"_ _0\"></span>lla <span class=\"ff5a\">joint venture</span> o della societ\u00e0 collegata.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__46": {
   "value": "2.7.4.2.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>societ\u00e0 controllate Le <span class=\"_ _23\"></span>quote <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>partecipazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>consolidate <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>costo <span class=\"_ _23\"></span>rettificato <span class=\"_ _23\"></span>per perdite <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>valore.<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>Se <span class=\"_ _2d\"> </span>il <span class=\"_\"> </span>Gruppo <span class=\"_ _2a\"> </span>perde <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>controllo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>una <span class=\"_\"> </span>contr<span class=\"_ _29\"></span>ollat<span class=\"_ _0\"></span>a, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>partecipazion<span class=\"_ _0\"></span>e <span class=\"_ _2a\"> </span>residua <span class=\"_ _2d\"> </span>nella <span class=\"_\"> </span>ex controllata \u00e8 valutata al <span class=\"ff5a\">fair value<span class=\"_ _0\"></span></span> al momento della perdita del controllo<span class=\"_ _0\"></span>. 2.7.4.3.<span class=\"ff5f\"> <span class=\"_ _2a\"> </span></span>Partecipazioni in <span class=\"_ _0\"></span>altre imprese Le <span class=\"_ _2e\"> </span>partecipazion<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>minoranza <span class=\"_ _2e\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _2e\"> </span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _2e\"> </span>alla <span class=\"_ _2f\"> </span>data <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>acquisizione <span class=\"_ _2f\"> </span>in <span class=\"_ _2e\"> </span>base <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>loro <span class=\"_ _2f\"> </span>quota proporzionale delle attivit\u00e0 <span class=\"_ _2b\"></span>nette identificabili della societ\u00e0 <span class=\"_ _29\"></span>acquisita. Considerando che <span class=\"_ _2b\"></span>non hanno un <span class=\"_ _29\"></span>impatto significativo sul patrimonio netto, su<span class=\"_ _0\"></span>i risultati finanziari e sui risultati operativi d<span class=\"_ _0\"></span>el Gruppo<span class=\"_ _0\"></span> tali partecipazio<span class=\"_ _0\"></span>ni sono <span class=\"_ _23\"></span>misurate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span></span>rilevato <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>altre <span class=\"_ _23\"></span>componenti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>economico <span class=\"_ _23\"></span>complessivo <span class=\"_ _23\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"_ _0\"></span> <span class=\"_ _23\"></span></span><span class=\"ls6\">e </span>sono soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span><span class=\"ff5a\">im<span class=\"_ _0\"></span>pairment<span class=\"ff56\"> ai <span class=\"_ _2b\"></span>sensi IFRS <span class=\"_ _2b\"></span>9 (ad eccezione <span class=\"_ _2b\"></span>di quelle <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>cui il <span class=\"_ _29\"></span>Gruppo si <span class=\"_ _2b\"></span>\u00e8 avvalso <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ella </span></span>c.d. \u201c<span class=\"ff5a\">OCI <span class=\"_ _2b\"></span>Ele<span class=\"_ _0\"></span>ction<span class=\"ff5d ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\">In <span class=\"_ _29\"></span>assenza <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> elementi <span class=\"_ _2b\"></span>id<span class=\"_ _0\"></span>onei ad <span class=\"_ _2b\"></span>identificare <span class=\"ls9\">il </span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value, i<span class=\"ff56\"> loro <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> possono <span class=\"_ _2b\"></span>essere </span></span></span></span></span></span></span></span>approssimati dai costi di acquisizione.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__50": {
   "value": "2.7.5.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 e passivit\u00e0 finanziarie </span></span>Iscrizione e misurazione iniziale<span class=\"ff56\"> </span>Un'attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>(a <span class=\"_ _23\"></span>meno <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>tratti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>credito <span class=\"_ _28\"></span>commerciale <span class=\"_ _23\"></span>senza <span class=\"_ _28\"></span>una <span class=\"_ _23\"></span>compo<span class=\"_ _0\"></span>nente <span class=\"_ _23\"></span>di<span class=\"_ _22\"></span> finanziamento <span class=\"_ _2a\"> </span>significativa) <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>una <span class=\"_ _2d\"> </span>passivit\u00e0 <span class=\"_\"> </span>finanziaria <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>izialmente <span class=\"_ _2a\"> </span>valutata <span class=\"_ _2d\"> </span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pi<span class=\"_ _0\"></span>\u00f9, <span class=\"_ _2a\"> </span>per <span class=\"_ _2d\"> </span>un elemento non a <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value through profit <span class=\"_ _29\"></span>&amp; loss<span class=\"ff56\"> <span class=\"ff5d ls16\">(\u201c</span>FVTPL<span class=\"ff5d ls3\">\u201d)</span>, i <span class=\"_ _29\"></span>costi di transazione <span class=\"_ _29\"></span>direttamente attribuibili alla </span></span>sua acquisizione o emissione. <span class=\"_ _0\"></span> Le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>possono <span class=\"_ _2d\"> </span>essere <span class=\"_ _2c\"></span>costituita<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>disponibilit\u00e0 <span class=\"_ _2c\"> </span>liquide <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>equivalenti, investimenti, crediti commerciali e strumenti finanziari d<span class=\"_ _0\"></span>erivati con <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> positivo.  Le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>comprendono <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>derivant<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dall'emissione <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>un'obbligazione debiti <span class=\"_ _23\"></span>verso <span class=\"_ _22\"></span>banche, <span class=\"_ _23\"></span>debiti <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>debiti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>leasing <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>derivati <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\"> negativi. </span>Le <span class=\"_ _23\"></span>disponibilit\u00e0 <span class=\"_ _23\"></span>liq<span class=\"_ _0\"></span>uide <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>mezzi <span class=\"_ _23\"></span>equivalenti <span class=\"_ _23\"></span>comprendo<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _23\"></span>bancari <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>tit<span class=\"_ _0\"></span>oli <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>br<span class=\"_ _0\"></span>eve termine con<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>scadenza orig<span class=\"_ _0\"></span>inaria in<span class=\"_ _0\"></span>feriore <span class=\"_ _0\"></span>a tre <span class=\"_ _0\"></span>mesi <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>irrilevante di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>variazioni di<span class=\"_ _0\"></span> valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>e sono<span class=\"_ _0\"></span> valutati <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>nominale. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _28\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertiti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di chiusura del bilanci<span class=\"ls1\">o.</span> Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>altre <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _0\"></span>rilevate <span class=\"_ _23\"></span>inizialmente <span class=\"_ _22\"></span>quando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>diventa <span class=\"_ _22\"></span>parte delle disposizioni contrattuali dello strumento. <span class=\"_ _0\"></span> Classificazione e misurazione successiv<span class=\"_ _0\"></span>a<span class=\"ff56\"> </span>Le attivit\u00e0 e passivit\u00e0 finanziarie sono <span class=\"_ _0\"></span>classificate in tre diverse categorie: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutati al <span class=\"ff5a\">fair value</span> con impatto<span class=\"_ _0\"></span> a conto economico <span class=\"ff5d\">(\u201cFVTPL\u201d)<span class=\"_ _0\"></span></span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _2b\"></span>valutate <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>impatto <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2b\"></span>complessiva <span class=\"_ _29\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"ff56\">; </span></span></span></span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutate al costo ammortizzato <span class=\"ff5d\">(\u201c<span class=\"_ _0\"></span>CA\u201d)</span>. Strumenti finanziari valutati al fair value con impatto a <span class=\"_ _0\"></span>conto economico<span class=\"_ _0\"></span> Le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _2c\"> </span>finanziarie <span class=\"_ _2c\"> </span>acqui<span class=\"_ _0\"></span>site <span class=\"_ _28\"></span>o <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _28\"></span>con <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>fine <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"></span>vendita <span class=\"_ _2c\"></span>sono classificate come \u201cattivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span><span class=\"ff56\">finanziarie al <span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> </span>rilevato a conto economico\u201d.<span class=\"ff56\"> </span>Un\u2019attivit\u00e0 <span class=\"_ _2b\"></span>finanziaria <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>derivata pu\u00f2 <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>designata <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>qualora tale <span class=\"_ _2b\"></span>designazione <span class=\"_ _2b\"></span>consenta </span></span>di <span class=\"_ _22\"></span>evitare <span class=\"_ _23\"></span><span class=\"ff5a\">accounting <span class=\"_ _22\"></span>mismatch<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>valutazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>associate <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>criteri valutativi diversi. Le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, analogamente alle <span class=\"_ _2b\"></span>attivit\u00e0 finanziarie, possono <span class=\"_ _29\"></span>essere <span class=\"_ _2b\"></span>desi<span class=\"_ _0\"></span>gnate, coerentemente a quanto <span class=\"_ _0\"></span>disposto da <span class=\"_ _0\"></span>IFRS 9, <span class=\"_ _0\"></span>al momento <span class=\"_ _0\"></span>della rilevazione <span class=\"_ _0\"></span>iniziale, come <span class=\"_ _0\"></span>passivit\u00e0 finanziarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\">, purch\u00e9: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>tale <span class=\"_ _28\"></span>designazione <span class=\"_ _2c\"></span>elimini <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>riduca <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>tevolmente <span class=\"_ _28\"></span>una <span class=\"_ _2c\"></span>discordanza <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>altrimenti <span class=\"_ _28\"></span>risulterebb<span class=\"_ _0\"></span>e dalla valutazione su basi diverse di attivit\u00e0<span class=\"_ _0\"></span> o passivit\u00e0 e dei relativi utili e perd<span class=\"_ _0\"></span>ite; ovvero -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie, <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>entrambe <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>ge<span class=\"_ _0\"></span>stito <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>valutato <span class=\"_ _22\"></span>al fair <span class=\"_\"> </span>value<span class=\"ff56\"> <span class=\"_\"> </span>secondo <span class=\"_\"> </span>una <span class=\"_\"> </span>gestione <span class=\"_\"> </span>del <span class=\"_\"> </span>rischio <span class=\"_\"> </span>o <span class=\"_\"> </span>una <span class=\"_\"> </span>strategia <span class=\"_\"> </span>di <span class=\"_\"> </span>investimento <span class=\"_\"> </span>documentata </span>internamente agli Organi Amministrativi <span class=\"_ _0\"></span>delle entit\u00e0. Un\u2019attivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>classificata <span class=\"_ _0\"></span>fra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>finanziarie<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _0\"></span>ob<span class=\"_ _0\"></span>bligatoriamente <span class=\"_ _0\"></span>valutate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value<span class=\"_ _0\"></span></span> </span>qualora la <span class=\"_ _29\"></span>stessa <span class=\"_ _29\"></span>non soddisfi le <span class=\"_ _2b\"></span>condizion<span class=\"_ _0\"></span>i, in <span class=\"_ _29\"></span>termini di <span class=\"ff5a\">business <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>el<span class=\"ff56\"> o <span class=\"_ _29\"></span>di caratteristiche <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ei flussi di <span class=\"_ _2b\"></span>cassa,<span class=\"_ _0\"></span> </span></span>per la valutazione al costo ammortizzato o al <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> con impatto sulla red<span class=\"_ _0\"></span>ditivit\u00e0 complessiv<span class=\"ls3\">a.</span> In particolare sono classificati in questo portafoglio<span class=\"_ _0\"></span>: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>debito, <span class=\"_ _23\"></span>titoli <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>finanziame<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>cui <span class=\"_ _28\"></span><span class=\"ff5a\">business <span class=\"_ _28\"></span>model</span> <span class=\"_ _23\"></span>n<span class=\"_ _0\"></span>on <span class=\"_ _28\"></span>risulta <span class=\"_ _23\"></span>essere <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span><span class=\"ff5a\">held<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>to </span>collect<span class=\"ff56\"> n\u00e9 </span>held to collect and sell<span class=\"ff56\"> <span class=\"_ _0\"></span>ma che non appartengono al portafoglio di negoziazione;<span class=\"_ _0\"></span> </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>debito, <span class=\"_ _22\"></span>titoli <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>finanziamenti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>solamente <span class=\"_ _22\"></span>la corresponsione di capitale e interessi; <span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>quote di OICR; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>capitale <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>detenuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>finalit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>quali <span class=\"_ _28\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>applica l\u2019opzione <span class=\"_ _22\"></span>conc<span class=\"ff56\">essa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>impatto<span class=\"_ _0\"></span> </span>sulla redditivit\u00e0 complessiva. Attivit\u00e0 finanziarie valutate al fair value con impatto sulla redd<span class=\"_ _0\"></span>itivit\u00e0 complessiva<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>classificata <span class=\"_ _23\"></span>fra <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span><span class=\"ff56\">anziarie <span class=\"_ _23\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>impatto <span class=\"_ _28\"></span>sulla </span>redditivit\u00e0 complessiva qualora: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _23\"></span><span class=\"ff5a\">business <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>el</span></span></span> <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>perseguito <span class=\"_ _23\"></span>mediante <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>raccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"></span>finanziari contrattuali sia la vendita delle attivit\u00e0 finanziarie <span class=\"_ _0\"></span><span class=\"ff5e\">(\u201cheld<span class=\"ff5a\">-<span class=\"ls9\">to</span>-collect and<span class=\"_ _0\"></span> </span>sell\u201d)</span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresponsione di capitale e interessi.<span class=\"_ _0\"></span> Inoltre <span class=\"_\"> </span>sono <span class=\"_\"> </span>classificati <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>questa <span class=\"_\"> </span>cate<span class=\"_ _29\"></span>goria, <span class=\"_\"> </span>gli <span class=\"_\"> </span>strumenti <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>capitale <span class=\"_ _2a\"> </span>non <span class=\"_\"> </span>detenuti <span class=\"_\"> </span>per <span class=\"_ _2a\"> </span>finalit\u00e0 <span class=\"_\"> </span>di negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _22\"></span><span class=\"ff5d\">applica <span class=\"_ _22\"></span>l\u2019opzione <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>concessa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>esti </span>strumenti al <span class=\"ff5a\">fair value</span> con impatto sulla reddi<span class=\"_ _0\"></span>tivit\u00e0 complessiva. Strumenti finanziari valutate al costo ammortizzato<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 finanziaria \u00e8 classificata fra le attivit\u00e0 fin<span class=\"_ _0\"></span>a<span class=\"ff56\">nziarie valutate al costo ammortizzato q<span class=\"_ _0\"></span>ualora: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _22\"></span><span class=\"ff5a\">business <span class=\"_ _23\"></span>model</span></span></span> <span class=\"_ _22\"></span>sia <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>possesso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finalizzato <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>ra<span class=\"_ _0\"></span>ccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi finanziari contrattuali (<span class=\"ff5e\">\u201cheld<span class=\"_ _0\"></span><span class=\"ff5a\">- <span class=\"ls9\">to</span>-</span>collect\u201d</span><span class=\"ls7\">); </span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresp<span class=\"_ _0\"></span>onsione di capitale e interessi. Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>valutate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>ammortizzato <span class=\"_ _23\"></span>comprendono <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>(diversi dalle <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>negoziazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>da <span class=\"_ _2c\"></span>quelle <span class=\"_ _2c\"> </span>desig<span class=\"_ _0\"></span>nate <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>) <span class=\"_ _28\"></span>rapp<span class=\"_ _0\"></span>resentativi <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>diverse <span class=\"_ _2c\"></span>forme <span class=\"_ _2c\"> </span>di provvista di fondi da terzi. Misurazione del fair value Il <span class=\"ff5a ls0\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">delle <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e delle <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span></span>fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 <span class=\"_ _0\"></span>determinato al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>loro </span></span>rilevazione iniziale per mezzo del prezzo d<span class=\"_ _0\"></span>i transazione, pari quindi al corrispettivo pag<span class=\"_ _0\"></span>ato o ricevuto<span class=\"_ _0\"></span>. Successivamente, e <span class=\"_ _2b\"></span>ad ogni <span class=\"_ _2b\"></span>data di <span class=\"_ _2b\"></span>bilancio, il <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>degli strumenti <span class=\"_ _2b\"></span>finanziari quotati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un mercato </span></span>attivo <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>basa <span class=\"_ _0\"></span>sui <span class=\"_ _22\"></span>prezzi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. <span class=\"_ _0\"></span>I <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>utilizzati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>derivati <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span><span class=\"ff5a\">bid price</span>, <span class=\"_ _22\"></span>mentre <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>le passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>gli<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5a\">ask <span class=\"_ _22\"></span>price</span>. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>e</span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>strumenti <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>quotati <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>attivo <span class=\"_ _0\"></span>\u00e8 determinato <span class=\"_ _2b\"></span>utilizzando tecniche <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valutazione, <span class=\"_ _29\"></span>basate <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>serie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>metodi <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>as<span class=\"_ _0\"></span>sunzioni <span class=\"_ _2b\"></span>legate a <span class=\"_ _2b\"></span>condizioni di mercato alla data di bilancio.  Il <span class=\"_ _2b\"></span><span class=\"ff5a ls0\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>degli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>quotati <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>determinato <span class=\"_ _29\"></span>scontando <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>flussi <span class=\"_ _29\"></span>finanziari </span></span>futuri per mezzo del tasso di interesse di mercato alla d<span class=\"_ _0\"></span>ata di riferimento del bilancio.<span class=\"_ _0\"></span> Determinazione della perdita di valore (impairment)<span class=\"_ _0\"></span> Tutte <span class=\"_ _2b\"></span>le attivit\u00e0 <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, <span class=\"_ _2b\"></span>ad eccezione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span><span class=\"ff5e\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>e passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>fair <span class=\"_ _29\"></span>value </span>rilevato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>conto economico\u201d, <span class=\"_ _2b\"></span><span class=\"ff56\">son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>riduzione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>valore conformemente <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>definito </span>dall\u2019IFRS 9 e quindi considerando anche gli effett<span class=\"_ _0\"></span><span class=\"ff56\">i delle <span class=\"ff5a\">expected losses</span>. <span class=\"_ _0\"></span> </span>Una <span class=\"_ _2b\"></span>perdita <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un\u2019attivit\u00e0 <span class=\"_ _29\"></span>finanziaria <span class=\"_ _2b\"></span>valutata <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>costo <span class=\"_ _2b\"></span>ammortizzato <span class=\"_ _2b\"></span>corr<span class=\"_ _0\"></span>isponde <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenza fra <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _2c\"></span>contabile <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>il <span class=\"_ _2c\"></span>valore <span class=\"_ _28\"></span>attuale <span class=\"_ _28\"></span>dei <span class=\"_ _2c\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>stimati <span class=\"_ _2c\"></span>attesi <span class=\"_ _28\"></span>attualizzati <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>interesse effett<span class=\"ff5d\">ivo <span class=\"_ _2c\"> </span>originale. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>perdita <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>un\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>finanziaria <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span></span> <span class=\"_ _2c\"></span>rilevato <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"> </span>econo<span class=\"_ _0\"></span>mico complessivo \u00e8 calcolata sulla base del <span class=\"ff5a\">fair val<span class=\"_ _0\"></span>ue</span> di detta attivit\u00e0. Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>rilevate <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>conto <span class=\"_ _22\"></span>economico<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>quelle <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>strumenti finanziari di <span class=\"ff5a\">equity <span class=\"ff5d\">per cui il Gruppo si \u00e8 <span class=\"_ _29\"></span>avvalso dell\u2019opzione di classificarlo a <span class=\"ff5a\">fair value <span class=\"ff56\">con impatto a conto </span></span></span></span>economico complessivo (c.d. \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">OCI Election</span><span class=\"ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span></span>Le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2a\"> </span>ripristinate <span class=\"_ _2d\"> </span>se <span class=\"_\"> </span>il <span class=\"_ _2d\"> </span>s<span class=\"_ _0\"></span>uccessivo <span class=\"_ _2a\"> </span>incremento <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>valore <span class=\"_ _2a\"> </span>pu\u00f2 <span class=\"_\"> </span>essere <span class=\"_ _2d\"> </span>og<span class=\"_ _0\"></span>gettivamente collegato <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>evento <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>verificato <span class=\"_ _22\"></span>successivamente <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>riduzion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dello <span class=\"_ _0\"></span>stesso. <span class=\"_ _22\"></span>Nel <span class=\"_ _22\"></span>caso <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 valutate <span class=\"_ _2f\"> </span>al <span class=\"_ _2f\"> </span>costo <span class=\"_ _2f\"> </span>ammortizzato <span class=\"_ _2f\"> </span>e <span class=\"_ _2f\"> </span>delle <span class=\"_ _2f\"> </span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _2f\"> </span>value</span> <span class=\"_ _2f\"> </span>rilevato <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _41\"> </span>economico <span class=\"_ _2f\"> </span>complessivo corrispondenti a titoli di debito<span class=\"_ _0\"></span>, il ripristino \u00e8 rilevato a conto economico.<span class=\"_ _0\"></span> Cancellazione (Derecognition)  Il <span class=\"_ _8b\"> </span>Gruppo <span class=\"_ _2e\"> </span>elimina <span class=\"_ _2e\"> </span>un'attivit\u00e0 <span class=\"_ _8b\"> </span>finanziaria <span class=\"_ _2e\"> </span>quando <span class=\"_ _2e\"> </span>scadono <span class=\"_ _2e\"> </span>i <span class=\"_ _8b\"> </span>diritti <span class=\"_ _2e\"> </span>contrattuali <span class=\"_ _2e\"> </span>sui <span class=\"_ _8b\"> </span>flussi <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>c<span class=\"_ _22\"></span>assa dell'attivit\u00e0 <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>pure <span class=\"_ _0\"></span>trasferisce <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>diritti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>ricevere <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>contrattuali <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span>transazione <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> cui <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>trasferiti <span class=\"_ _22\"></span>sostanzialmente <span class=\"_ _23\"></span>tutti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _23\"></span>dell'attivit\u00e0 <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>il Gruppo non <span class=\"_ _0\"></span>trasferisce n\u00e9 mantiene sost<span class=\"_ _0\"></span>anzialmente tutti <span class=\"_ _0\"></span>i rischi e <span class=\"_ _0\"></span>i benefi<span class=\"_ _0\"></span>ci <span class=\"_ _0\"></span>della propriet\u00e0 e <span class=\"_ _0\"></span>non mantiene <span class=\"_ _0\"></span>il controllo dell'attivit\u00e0 finanziaria. Il Gruppo cancella <span class=\"_ _29\"></span>una passivit\u00e0 finanziaria quando i suoi <span class=\"_ _29\"></span>obblighi contrattuali sono estinti <span class=\"_ _29\"></span>o cancellati, o <span class=\"_ _23\"></span>scadono. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _23\"></span>elimina <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quand<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>suoi<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>termini <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>modificati <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i flussi <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>modificata <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>sostanzialmente <span class=\"_ _2d\"> </span>diversi, <span class=\"_ _2c\"></span>nel <span class=\"_ _2d\"> </span>qual <span class=\"_ _28\"></span>caso <span class=\"_ _2d\"> </span>una <span class=\"_ _2c\"></span>nuova <span class=\"_ _2c\"></span>passivit\u00e0 finanziaria <span class=\"_ _28\"></span>basata <span class=\"_ _23\"></span>sui <span class=\"_ _28\"></span>termi<span class=\"_ _0\"></span>ni <span class=\"_ _28\"></span>modificati <span class=\"_ _23\"></span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span>. <span class=\"_ _28\"></span>I <span class=\"_ _28\"></span>termini <span class=\"_ _23\"></span>contrattuali <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>considerati sostanzialmente <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>presenza <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>determinate <span class=\"_ _2b\"></span>car<span class=\"_ _0\"></span>atteristiche <span class=\"_ _2b\"></span>qualitative <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>attualizzato <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _23\"></span>differisce <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>almeno <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>10% <span class=\"_ _22\"></span>dal <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>attualizzato <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>restanti <span class=\"_ _22\"></span>flussi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>passivit\u00e0 finanziaria originale secondo <span class=\"_ _0\"></span>i nuovi termini. Al momento <span class=\"_ _0\"></span>dell'eliminazion<span class=\"_ _0\"></span>e di <span class=\"_ _0\"></span>una passivi<span class=\"_ _0\"></span>t\u00e0 finanziaria, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>differenza <span class=\"_ _0\"></span>tra il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _0\"></span>estinto e il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>(incluse <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>liquide <span class=\"_ _23\"></span>trasferite <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>assunte) <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rilevata <span class=\"_ _23\"></span>nel conto economico. Compensazione tra attivit\u00e0 e passivit\u00e0 f<span class=\"_ _0\"></span>inanziarie<span class=\"ff56\"> </span>Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>compensate <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>presentato <span class=\"_ _23\"></span><span class=\"ff5d\">l\u2019importo <span class=\"_ _22\"></span>netto</span> <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>prospetto della <span class=\"_ _2b\"></span>situazione patrimoniale-finanziaria <span class=\"_ _2b\"></span>quando, e <span class=\"_ _2b\"></span>solo <span class=\"_ _2b\"></span>quando, <span class=\"_ _2b\"></span>il Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>diritto <span class=\"_ _2b\"></span>legalmente esercitabile a <span class=\"_ _2d\"> </span>compensare <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>impo<span class=\"_ _0\"></span>rti <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>intende <span class=\"_ _2d\"> </span>liqui<span class=\"_ _0\"></span>darli <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>netta <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>realizzare <span class=\"_ _2d\"> </span>l'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>liquidare <span class=\"_ _2d\"> </span>la<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>passivit\u00e0 contemporaneamente.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__49": {
   "value": "2.7.5.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 e passivit\u00e0 finanziarie </span></span>Iscrizione e misurazione iniziale<span class=\"ff56\"> </span>Un'attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>(a <span class=\"_ _23\"></span>meno <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>tratti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>credito <span class=\"_ _28\"></span>commerciale <span class=\"_ _23\"></span>senza <span class=\"_ _28\"></span>una <span class=\"_ _23\"></span>compo<span class=\"_ _0\"></span>nente <span class=\"_ _23\"></span>di<span class=\"_ _22\"></span> finanziamento <span class=\"_ _2a\"> </span>significativa) <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>una <span class=\"_ _2d\"> </span>passivit\u00e0 <span class=\"_\"> </span>finanziaria <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>izialmente <span class=\"_ _2a\"> </span>valutata <span class=\"_ _2d\"> </span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pi<span class=\"_ _0\"></span>\u00f9, <span class=\"_ _2a\"> </span>per <span class=\"_ _2d\"> </span>un elemento non a <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value through profit <span class=\"_ _29\"></span>&amp; loss<span class=\"ff56\"> <span class=\"ff5d ls16\">(\u201c</span>FVTPL<span class=\"ff5d ls3\">\u201d)</span>, i <span class=\"_ _29\"></span>costi di transazione <span class=\"_ _29\"></span>direttamente attribuibili alla </span></span>sua acquisizione o emissione. <span class=\"_ _0\"></span> Le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>possono <span class=\"_ _2d\"> </span>essere <span class=\"_ _2c\"></span>costituita<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>disponibilit\u00e0 <span class=\"_ _2c\"> </span>liquide <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>equivalenti, investimenti, crediti commerciali e strumenti finanziari d<span class=\"_ _0\"></span>erivati con <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> positivo.  Le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>comprendono <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>derivant<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dall'emissione <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>un'obbligazione debiti <span class=\"_ _23\"></span>verso <span class=\"_ _22\"></span>banche, <span class=\"_ _23\"></span>debiti <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>debiti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>leasing <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>derivati <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\"> negativi. </span>Le <span class=\"_ _23\"></span>disponibilit\u00e0 <span class=\"_ _23\"></span>liq<span class=\"_ _0\"></span>uide <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>mezzi <span class=\"_ _23\"></span>equivalenti <span class=\"_ _23\"></span>comprendo<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _23\"></span>bancari <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>tit<span class=\"_ _0\"></span>oli <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>br<span class=\"_ _0\"></span>eve termine con<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>scadenza orig<span class=\"_ _0\"></span>inaria in<span class=\"_ _0\"></span>feriore <span class=\"_ _0\"></span>a tre <span class=\"_ _0\"></span>mesi <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>irrilevante di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>variazioni di<span class=\"_ _0\"></span> valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>e sono<span class=\"_ _0\"></span> valutati <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>nominale. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _28\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertiti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di chiusura del bilanci<span class=\"ls1\">o.</span> Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>altre <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _0\"></span>rilevate <span class=\"_ _23\"></span>inizialmente <span class=\"_ _22\"></span>quando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>diventa <span class=\"_ _22\"></span>parte delle disposizioni contrattuali dello strumento. <span class=\"_ _0\"></span> Classificazione e misurazione successiv<span class=\"_ _0\"></span>a<span class=\"ff56\"> </span>Le attivit\u00e0 e passivit\u00e0 finanziarie sono <span class=\"_ _0\"></span>classificate in tre diverse categorie: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutati al <span class=\"ff5a\">fair value</span> con impatto<span class=\"_ _0\"></span> a conto economico <span class=\"ff5d\">(\u201cFVTPL\u201d)<span class=\"_ _0\"></span></span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _2b\"></span>valutate <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>impatto <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2b\"></span>complessiva <span class=\"_ _29\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"ff56\">; </span></span></span></span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutate al costo ammortizzato <span class=\"ff5d\">(\u201c<span class=\"_ _0\"></span>CA\u201d)</span>. Strumenti finanziari valutati al fair value con impatto a <span class=\"_ _0\"></span>conto economico<span class=\"_ _0\"></span> Le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _2c\"> </span>finanziarie <span class=\"_ _2c\"> </span>acqui<span class=\"_ _0\"></span>site <span class=\"_ _28\"></span>o <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _28\"></span>con <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>fine <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"></span>vendita <span class=\"_ _2c\"></span>sono classificate come \u201cattivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span><span class=\"ff56\">finanziarie al <span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> </span>rilevato a conto economico\u201d.<span class=\"ff56\"> </span>Un\u2019attivit\u00e0 <span class=\"_ _2b\"></span>finanziaria <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>derivata pu\u00f2 <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>designata <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>qualora tale <span class=\"_ _2b\"></span>designazione <span class=\"_ _2b\"></span>consenta </span></span>di <span class=\"_ _22\"></span>evitare <span class=\"_ _23\"></span><span class=\"ff5a\">accounting <span class=\"_ _22\"></span>mismatch<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>valutazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>associate <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>criteri valutativi diversi. Le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, analogamente alle <span class=\"_ _2b\"></span>attivit\u00e0 finanziarie, possono <span class=\"_ _29\"></span>essere <span class=\"_ _2b\"></span>desi<span class=\"_ _0\"></span>gnate, coerentemente a quanto <span class=\"_ _0\"></span>disposto da <span class=\"_ _0\"></span>IFRS 9, <span class=\"_ _0\"></span>al momento <span class=\"_ _0\"></span>della rilevazione <span class=\"_ _0\"></span>iniziale, come <span class=\"_ _0\"></span>passivit\u00e0 finanziarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\">, purch\u00e9: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>tale <span class=\"_ _28\"></span>designazione <span class=\"_ _2c\"></span>elimini <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>riduca <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>tevolmente <span class=\"_ _28\"></span>una <span class=\"_ _2c\"></span>discordanza <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>altrimenti <span class=\"_ _28\"></span>risulterebb<span class=\"_ _0\"></span>e dalla valutazione su basi diverse di attivit\u00e0<span class=\"_ _0\"></span> o passivit\u00e0 e dei relativi utili e perd<span class=\"_ _0\"></span>ite; ovvero -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie, <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>entrambe <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>ge<span class=\"_ _0\"></span>stito <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>valutato <span class=\"_ _22\"></span>al fair <span class=\"_\"> </span>value<span class=\"ff56\"> <span class=\"_\"> </span>secondo <span class=\"_\"> </span>una <span class=\"_\"> </span>gestione <span class=\"_\"> </span>del <span class=\"_\"> </span>rischio <span class=\"_\"> </span>o <span class=\"_\"> </span>una <span class=\"_\"> </span>strategia <span class=\"_\"> </span>di <span class=\"_\"> </span>investimento <span class=\"_\"> </span>documentata </span>internamente agli Organi Amministrativi <span class=\"_ _0\"></span>delle entit\u00e0. Un\u2019attivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>classificata <span class=\"_ _0\"></span>fra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>finanziarie<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _0\"></span>ob<span class=\"_ _0\"></span>bligatoriamente <span class=\"_ _0\"></span>valutate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value<span class=\"_ _0\"></span></span> </span>qualora la <span class=\"_ _29\"></span>stessa <span class=\"_ _29\"></span>non soddisfi le <span class=\"_ _2b\"></span>condizion<span class=\"_ _0\"></span>i, in <span class=\"_ _29\"></span>termini di <span class=\"ff5a\">business <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>el<span class=\"ff56\"> o <span class=\"_ _29\"></span>di caratteristiche <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ei flussi di <span class=\"_ _2b\"></span>cassa,<span class=\"_ _0\"></span> </span></span>per la valutazione al costo ammortizzato o al <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> con impatto sulla red<span class=\"_ _0\"></span>ditivit\u00e0 complessiv<span class=\"ls3\">a.</span> In particolare sono classificati in questo portafoglio<span class=\"_ _0\"></span>: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>debito, <span class=\"_ _23\"></span>titoli <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>finanziame<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>cui <span class=\"_ _28\"></span><span class=\"ff5a\">business <span class=\"_ _28\"></span>model</span> <span class=\"_ _23\"></span>n<span class=\"_ _0\"></span>on <span class=\"_ _28\"></span>risulta <span class=\"_ _23\"></span>essere <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span><span class=\"ff5a\">held<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>to </span>collect<span class=\"ff56\"> n\u00e9 </span>held to collect and sell<span class=\"ff56\"> <span class=\"_ _0\"></span>ma che non appartengono al portafoglio di negoziazione;<span class=\"_ _0\"></span> </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>debito, <span class=\"_ _22\"></span>titoli <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>finanziamenti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>solamente <span class=\"_ _22\"></span>la corresponsione di capitale e interessi; <span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>quote di OICR; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>capitale <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>detenuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>finalit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>quali <span class=\"_ _28\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>applica l\u2019opzione <span class=\"_ _22\"></span>conc<span class=\"ff56\">essa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>impatto<span class=\"_ _0\"></span> </span>sulla redditivit\u00e0 complessiva. Attivit\u00e0 finanziarie valutate al fair value con impatto sulla redd<span class=\"_ _0\"></span>itivit\u00e0 complessiva<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>classificata <span class=\"_ _23\"></span>fra <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span><span class=\"ff56\">anziarie <span class=\"_ _23\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>impatto <span class=\"_ _28\"></span>sulla </span>redditivit\u00e0 complessiva qualora: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _23\"></span><span class=\"ff5a\">business <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>el</span></span></span> <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>perseguito <span class=\"_ _23\"></span>mediante <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>raccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"></span>finanziari contrattuali sia la vendita delle attivit\u00e0 finanziarie <span class=\"_ _0\"></span><span class=\"ff5e\">(\u201cheld<span class=\"ff5a\">-<span class=\"ls9\">to</span>-collect and<span class=\"_ _0\"></span> </span>sell\u201d)</span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresponsione di capitale e interessi.<span class=\"_ _0\"></span> Inoltre <span class=\"_\"> </span>sono <span class=\"_\"> </span>classificati <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>questa <span class=\"_\"> </span>cate<span class=\"_ _29\"></span>goria, <span class=\"_\"> </span>gli <span class=\"_\"> </span>strumenti <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>capitale <span class=\"_ _2a\"> </span>non <span class=\"_\"> </span>detenuti <span class=\"_\"> </span>per <span class=\"_ _2a\"> </span>finalit\u00e0 <span class=\"_\"> </span>di negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _22\"></span><span class=\"ff5d\">applica <span class=\"_ _22\"></span>l\u2019opzione <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>concessa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>esti </span>strumenti al <span class=\"ff5a\">fair value</span> con impatto sulla reddi<span class=\"_ _0\"></span>tivit\u00e0 complessiva. Strumenti finanziari valutate al costo ammortizzato<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 finanziaria \u00e8 classificata fra le attivit\u00e0 fin<span class=\"_ _0\"></span>a<span class=\"ff56\">nziarie valutate al costo ammortizzato q<span class=\"_ _0\"></span>ualora: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _22\"></span><span class=\"ff5a\">business <span class=\"_ _23\"></span>model</span></span></span> <span class=\"_ _22\"></span>sia <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>possesso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finalizzato <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>ra<span class=\"_ _0\"></span>ccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi finanziari contrattuali (<span class=\"ff5e\">\u201cheld<span class=\"_ _0\"></span><span class=\"ff5a\">- <span class=\"ls9\">to</span>-</span>collect\u201d</span><span class=\"ls7\">); </span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresp<span class=\"_ _0\"></span>onsione di capitale e interessi. Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>valutate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>ammortizzato <span class=\"_ _23\"></span>comprendono <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>(diversi dalle <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>negoziazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>da <span class=\"_ _2c\"></span>quelle <span class=\"_ _2c\"> </span>desig<span class=\"_ _0\"></span>nate <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>) <span class=\"_ _28\"></span>rapp<span class=\"_ _0\"></span>resentativi <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>diverse <span class=\"_ _2c\"></span>forme <span class=\"_ _2c\"> </span>di provvista di fondi da terzi. Misurazione del fair value Il <span class=\"ff5a ls0\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">delle <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e delle <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span></span>fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 <span class=\"_ _0\"></span>determinato al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>loro </span></span>rilevazione iniziale per mezzo del prezzo d<span class=\"_ _0\"></span>i transazione, pari quindi al corrispettivo pag<span class=\"_ _0\"></span>ato o ricevuto<span class=\"_ _0\"></span>. Successivamente, e <span class=\"_ _2b\"></span>ad ogni <span class=\"_ _2b\"></span>data di <span class=\"_ _2b\"></span>bilancio, il <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>degli strumenti <span class=\"_ _2b\"></span>finanziari quotati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un mercato </span></span>attivo <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>basa <span class=\"_ _0\"></span>sui <span class=\"_ _22\"></span>prezzi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. <span class=\"_ _0\"></span>I <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>utilizzati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>derivati <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span><span class=\"ff5a\">bid price</span>, <span class=\"_ _22\"></span>mentre <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>le passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>gli<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5a\">ask <span class=\"_ _22\"></span>price</span>. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>e</span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>strumenti <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>quotati <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>attivo <span class=\"_ _0\"></span>\u00e8 determinato <span class=\"_ _2b\"></span>utilizzando tecniche <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valutazione, <span class=\"_ _29\"></span>basate <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>serie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>metodi <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>as<span class=\"_ _0\"></span>sunzioni <span class=\"_ _2b\"></span>legate a <span class=\"_ _2b\"></span>condizioni di mercato alla data di bilancio.  Il <span class=\"_ _2b\"></span><span class=\"ff5a ls0\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>degli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>quotati <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>determinato <span class=\"_ _29\"></span>scontando <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>flussi <span class=\"_ _29\"></span>finanziari </span></span>futuri per mezzo del tasso di interesse di mercato alla d<span class=\"_ _0\"></span>ata di riferimento del bilancio.<span class=\"_ _0\"></span> Determinazione della perdita di valore (impairment)<span class=\"_ _0\"></span> Tutte <span class=\"_ _2b\"></span>le attivit\u00e0 <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, <span class=\"_ _2b\"></span>ad eccezione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span><span class=\"ff5e\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>e passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>fair <span class=\"_ _29\"></span>value </span>rilevato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>conto economico\u201d, <span class=\"_ _2b\"></span><span class=\"ff56\">son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>riduzione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>valore conformemente <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>definito </span>dall\u2019IFRS 9 e quindi considerando anche gli effett<span class=\"_ _0\"></span><span class=\"ff56\">i delle <span class=\"ff5a\">expected losses</span>. <span class=\"_ _0\"></span> </span>Una <span class=\"_ _2b\"></span>perdita <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un\u2019attivit\u00e0 <span class=\"_ _29\"></span>finanziaria <span class=\"_ _2b\"></span>valutata <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>costo <span class=\"_ _2b\"></span>ammortizzato <span class=\"_ _2b\"></span>corr<span class=\"_ _0\"></span>isponde <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenza fra <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _2c\"></span>contabile <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>il <span class=\"_ _2c\"></span>valore <span class=\"_ _28\"></span>attuale <span class=\"_ _28\"></span>dei <span class=\"_ _2c\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>stimati <span class=\"_ _2c\"></span>attesi <span class=\"_ _28\"></span>attualizzati <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>interesse effett<span class=\"ff5d\">ivo <span class=\"_ _2c\"> </span>originale. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>perdita <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>un\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>finanziaria <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span></span> <span class=\"_ _2c\"></span>rilevato <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"> </span>econo<span class=\"_ _0\"></span>mico complessivo \u00e8 calcolata sulla base del <span class=\"ff5a\">fair val<span class=\"_ _0\"></span>ue</span> di detta attivit\u00e0. Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>rilevate <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>conto <span class=\"_ _22\"></span>economico<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>quelle <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>strumenti finanziari di <span class=\"ff5a\">equity <span class=\"ff5d\">per cui il Gruppo si \u00e8 <span class=\"_ _29\"></span>avvalso dell\u2019opzione di classificarlo a <span class=\"ff5a\">fair value <span class=\"ff56\">con impatto a conto </span></span></span></span>economico complessivo (c.d. \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">OCI Election</span><span class=\"ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span></span>Le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2a\"> </span>ripristinate <span class=\"_ _2d\"> </span>se <span class=\"_\"> </span>il <span class=\"_ _2d\"> </span>s<span class=\"_ _0\"></span>uccessivo <span class=\"_ _2a\"> </span>incremento <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>valore <span class=\"_ _2a\"> </span>pu\u00f2 <span class=\"_\"> </span>essere <span class=\"_ _2d\"> </span>og<span class=\"_ _0\"></span>gettivamente collegato <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>evento <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>verificato <span class=\"_ _22\"></span>successivamente <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>riduzion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dello <span class=\"_ _0\"></span>stesso. <span class=\"_ _22\"></span>Nel <span class=\"_ _22\"></span>caso <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 valutate <span class=\"_ _2f\"> </span>al <span class=\"_ _2f\"> </span>costo <span class=\"_ _2f\"> </span>ammortizzato <span class=\"_ _2f\"> </span>e <span class=\"_ _2f\"> </span>delle <span class=\"_ _2f\"> </span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _2f\"> </span>value</span> <span class=\"_ _2f\"> </span>rilevato <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _41\"> </span>economico <span class=\"_ _2f\"> </span>complessivo corrispondenti a titoli di debito<span class=\"_ _0\"></span>, il ripristino \u00e8 rilevato a conto economico.<span class=\"_ _0\"></span> Cancellazione (Derecognition)  Il <span class=\"_ _8b\"> </span>Gruppo <span class=\"_ _2e\"> </span>elimina <span class=\"_ _2e\"> </span>un'attivit\u00e0 <span class=\"_ _8b\"> </span>finanziaria <span class=\"_ _2e\"> </span>quando <span class=\"_ _2e\"> </span>scadono <span class=\"_ _2e\"> </span>i <span class=\"_ _8b\"> </span>diritti <span class=\"_ _2e\"> </span>contrattuali <span class=\"_ _2e\"> </span>sui <span class=\"_ _8b\"> </span>flussi <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>c<span class=\"_ _22\"></span>assa dell'attivit\u00e0 <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>pure <span class=\"_ _0\"></span>trasferisce <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>diritti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>ricevere <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>contrattuali <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span>transazione <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> cui <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>trasferiti <span class=\"_ _22\"></span>sostanzialmente <span class=\"_ _23\"></span>tutti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _23\"></span>dell'attivit\u00e0 <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>il Gruppo non <span class=\"_ _0\"></span>trasferisce n\u00e9 mantiene sost<span class=\"_ _0\"></span>anzialmente tutti <span class=\"_ _0\"></span>i rischi e <span class=\"_ _0\"></span>i benefi<span class=\"_ _0\"></span>ci <span class=\"_ _0\"></span>della propriet\u00e0 e <span class=\"_ _0\"></span>non mantiene <span class=\"_ _0\"></span>il controllo dell'attivit\u00e0 finanziaria. Il Gruppo cancella <span class=\"_ _29\"></span>una passivit\u00e0 finanziaria quando i suoi <span class=\"_ _29\"></span>obblighi contrattuali sono estinti <span class=\"_ _29\"></span>o cancellati, o <span class=\"_ _23\"></span>scadono. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _23\"></span>elimina <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quand<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>suoi<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>termini <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>modificati <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i flussi <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>modificata <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>sostanzialmente <span class=\"_ _2d\"> </span>diversi, <span class=\"_ _2c\"></span>nel <span class=\"_ _2d\"> </span>qual <span class=\"_ _28\"></span>caso <span class=\"_ _2d\"> </span>una <span class=\"_ _2c\"></span>nuova <span class=\"_ _2c\"></span>passivit\u00e0 finanziaria <span class=\"_ _28\"></span>basata <span class=\"_ _23\"></span>sui <span class=\"_ _28\"></span>termi<span class=\"_ _0\"></span>ni <span class=\"_ _28\"></span>modificati <span class=\"_ _23\"></span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span>. <span class=\"_ _28\"></span>I <span class=\"_ _28\"></span>termini <span class=\"_ _23\"></span>contrattuali <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>considerati sostanzialmente <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>presenza <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>determinate <span class=\"_ _2b\"></span>car<span class=\"_ _0\"></span>atteristiche <span class=\"_ _2b\"></span>qualitative <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>attualizzato <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _23\"></span>differisce <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>almeno <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>10% <span class=\"_ _22\"></span>dal <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>attualizzato <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>restanti <span class=\"_ _22\"></span>flussi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>passivit\u00e0 finanziaria originale secondo <span class=\"_ _0\"></span>i nuovi termini. Al momento <span class=\"_ _0\"></span>dell'eliminazion<span class=\"_ _0\"></span>e di <span class=\"_ _0\"></span>una passivi<span class=\"_ _0\"></span>t\u00e0 finanziaria, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>differenza <span class=\"_ _0\"></span>tra il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _0\"></span>estinto e il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>(incluse <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>liquide <span class=\"_ _23\"></span>trasferite <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>assunte) <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rilevata <span class=\"_ _23\"></span>nel conto economico. Compensazione tra attivit\u00e0 e passivit\u00e0 f<span class=\"_ _0\"></span>inanziarie<span class=\"ff56\"> </span>Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>compensate <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>presentato <span class=\"_ _23\"></span><span class=\"ff5d\">l\u2019importo <span class=\"_ _22\"></span>netto</span> <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>prospetto della <span class=\"_ _2b\"></span>situazione patrimoniale-finanziaria <span class=\"_ _2b\"></span>quando, e <span class=\"_ _2b\"></span>solo <span class=\"_ _2b\"></span>quando, <span class=\"_ _2b\"></span>il Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>diritto <span class=\"_ _2b\"></span>legalmente esercitabile a <span class=\"_ _2d\"> </span>compensare <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>impo<span class=\"_ _0\"></span>rti <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>intende <span class=\"_ _2d\"> </span>liqui<span class=\"_ _0\"></span>darli <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>netta <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>realizzare <span class=\"_ _2d\"> </span>l'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>liquidare <span class=\"_ _2d\"> </span>la<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>passivit\u00e0 contemporaneamente.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__48": {
   "value": "2.7.5.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 e passivit\u00e0 finanziarie </span></span>Iscrizione e misurazione iniziale<span class=\"ff56\"> </span>Un'attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>(a <span class=\"_ _23\"></span>meno <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>tratti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>credito <span class=\"_ _28\"></span>commerciale <span class=\"_ _23\"></span>senza <span class=\"_ _28\"></span>una <span class=\"_ _23\"></span>compo<span class=\"_ _0\"></span>nente <span class=\"_ _23\"></span>di<span class=\"_ _22\"></span> finanziamento <span class=\"_ _2a\"> </span>significativa) <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>una <span class=\"_ _2d\"> </span>passivit\u00e0 <span class=\"_\"> </span>finanziaria <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>izialmente <span class=\"_ _2a\"> </span>valutata <span class=\"_ _2d\"> </span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pi<span class=\"_ _0\"></span>\u00f9, <span class=\"_ _2a\"> </span>per <span class=\"_ _2d\"> </span>un elemento non a <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value through profit <span class=\"_ _29\"></span>&amp; loss<span class=\"ff56\"> <span class=\"ff5d ls16\">(\u201c</span>FVTPL<span class=\"ff5d ls3\">\u201d)</span>, i <span class=\"_ _29\"></span>costi di transazione <span class=\"_ _29\"></span>direttamente attribuibili alla </span></span>sua acquisizione o emissione. <span class=\"_ _0\"></span> Le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>possono <span class=\"_ _2d\"> </span>essere <span class=\"_ _2c\"></span>costituita<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>disponibilit\u00e0 <span class=\"_ _2c\"> </span>liquide <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>equivalenti, investimenti, crediti commerciali e strumenti finanziari d<span class=\"_ _0\"></span>erivati con <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> positivo.  Le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>comprendono <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>derivant<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dall'emissione <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>un'obbligazione debiti <span class=\"_ _23\"></span>verso <span class=\"_ _22\"></span>banche, <span class=\"_ _23\"></span>debiti <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>debiti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>leasing <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>derivati <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\"> negativi. </span>Le <span class=\"_ _23\"></span>disponibilit\u00e0 <span class=\"_ _23\"></span>liq<span class=\"_ _0\"></span>uide <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>mezzi <span class=\"_ _23\"></span>equivalenti <span class=\"_ _23\"></span>comprendo<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _23\"></span>bancari <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>tit<span class=\"_ _0\"></span>oli <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>br<span class=\"_ _0\"></span>eve termine con<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>scadenza orig<span class=\"_ _0\"></span>inaria in<span class=\"_ _0\"></span>feriore <span class=\"_ _0\"></span>a tre <span class=\"_ _0\"></span>mesi <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>irrilevante di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>variazioni di<span class=\"_ _0\"></span> valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>e sono<span class=\"_ _0\"></span> valutati <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>nominale. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _28\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertiti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di chiusura del bilanci<span class=\"ls1\">o.</span> Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>altre <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _0\"></span>rilevate <span class=\"_ _23\"></span>inizialmente <span class=\"_ _22\"></span>quando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>diventa <span class=\"_ _22\"></span>parte delle disposizioni contrattuali dello strumento. <span class=\"_ _0\"></span> Classificazione e misurazione successiv<span class=\"_ _0\"></span>a<span class=\"ff56\"> </span>Le attivit\u00e0 e passivit\u00e0 finanziarie sono <span class=\"_ _0\"></span>classificate in tre diverse categorie: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutati al <span class=\"ff5a\">fair value</span> con impatto<span class=\"_ _0\"></span> a conto economico <span class=\"ff5d\">(\u201cFVTPL\u201d)<span class=\"_ _0\"></span></span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _2b\"></span>valutate <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>impatto <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2b\"></span>complessiva <span class=\"_ _29\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"ff56\">; </span></span></span></span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutate al costo ammortizzato <span class=\"ff5d\">(\u201c<span class=\"_ _0\"></span>CA\u201d)</span>. Strumenti finanziari valutati al fair value con impatto a <span class=\"_ _0\"></span>conto economico<span class=\"_ _0\"></span> Le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _2c\"> </span>finanziarie <span class=\"_ _2c\"> </span>acqui<span class=\"_ _0\"></span>site <span class=\"_ _28\"></span>o <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _28\"></span>con <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>fine <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"></span>vendita <span class=\"_ _2c\"></span>sono classificate come \u201cattivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span><span class=\"ff56\">finanziarie al <span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> </span>rilevato a conto economico\u201d.<span class=\"ff56\"> </span>Un\u2019attivit\u00e0 <span class=\"_ _2b\"></span>finanziaria <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>derivata pu\u00f2 <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>designata <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>qualora tale <span class=\"_ _2b\"></span>designazione <span class=\"_ _2b\"></span>consenta </span></span>di <span class=\"_ _22\"></span>evitare <span class=\"_ _23\"></span><span class=\"ff5a\">accounting <span class=\"_ _22\"></span>mismatch<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>valutazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>associate <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>criteri valutativi diversi. Le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, analogamente alle <span class=\"_ _2b\"></span>attivit\u00e0 finanziarie, possono <span class=\"_ _29\"></span>essere <span class=\"_ _2b\"></span>desi<span class=\"_ _0\"></span>gnate, coerentemente a quanto <span class=\"_ _0\"></span>disposto da <span class=\"_ _0\"></span>IFRS 9, <span class=\"_ _0\"></span>al momento <span class=\"_ _0\"></span>della rilevazione <span class=\"_ _0\"></span>iniziale, come <span class=\"_ _0\"></span>passivit\u00e0 finanziarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\">, purch\u00e9: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>tale <span class=\"_ _28\"></span>designazione <span class=\"_ _2c\"></span>elimini <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>riduca <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>tevolmente <span class=\"_ _28\"></span>una <span class=\"_ _2c\"></span>discordanza <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>altrimenti <span class=\"_ _28\"></span>risulterebb<span class=\"_ _0\"></span>e dalla valutazione su basi diverse di attivit\u00e0<span class=\"_ _0\"></span> o passivit\u00e0 e dei relativi utili e perd<span class=\"_ _0\"></span>ite; ovvero -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie, <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>entrambe <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>ge<span class=\"_ _0\"></span>stito <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>valutato <span class=\"_ _22\"></span>al fair <span class=\"_\"> </span>value<span class=\"ff56\"> <span class=\"_\"> </span>secondo <span class=\"_\"> </span>una <span class=\"_\"> </span>gestione <span class=\"_\"> </span>del <span class=\"_\"> </span>rischio <span class=\"_\"> </span>o <span class=\"_\"> </span>una <span class=\"_\"> </span>strategia <span class=\"_\"> </span>di <span class=\"_\"> </span>investimento <span class=\"_\"> </span>documentata </span>internamente agli Organi Amministrativi <span class=\"_ _0\"></span>delle entit\u00e0. Un\u2019attivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>classificata <span class=\"_ _0\"></span>fra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>finanziarie<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _0\"></span>ob<span class=\"_ _0\"></span>bligatoriamente <span class=\"_ _0\"></span>valutate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value<span class=\"_ _0\"></span></span> </span>qualora la <span class=\"_ _29\"></span>stessa <span class=\"_ _29\"></span>non soddisfi le <span class=\"_ _2b\"></span>condizion<span class=\"_ _0\"></span>i, in <span class=\"_ _29\"></span>termini di <span class=\"ff5a\">business <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>el<span class=\"ff56\"> o <span class=\"_ _29\"></span>di caratteristiche <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ei flussi di <span class=\"_ _2b\"></span>cassa,<span class=\"_ _0\"></span> </span></span>per la valutazione al costo ammortizzato o al <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> con impatto sulla red<span class=\"_ _0\"></span>ditivit\u00e0 complessiv<span class=\"ls3\">a.</span> In particolare sono classificati in questo portafoglio<span class=\"_ _0\"></span>: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>debito, <span class=\"_ _23\"></span>titoli <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>finanziame<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>cui <span class=\"_ _28\"></span><span class=\"ff5a\">business <span class=\"_ _28\"></span>model</span> <span class=\"_ _23\"></span>n<span class=\"_ _0\"></span>on <span class=\"_ _28\"></span>risulta <span class=\"_ _23\"></span>essere <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span><span class=\"ff5a\">held<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>to </span>collect<span class=\"ff56\"> n\u00e9 </span>held to collect and sell<span class=\"ff56\"> <span class=\"_ _0\"></span>ma che non appartengono al portafoglio di negoziazione;<span class=\"_ _0\"></span> </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>debito, <span class=\"_ _22\"></span>titoli <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>finanziamenti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>solamente <span class=\"_ _22\"></span>la corresponsione di capitale e interessi; <span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>quote di OICR; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>capitale <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>detenuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>finalit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>quali <span class=\"_ _28\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>applica l\u2019opzione <span class=\"_ _22\"></span>conc<span class=\"ff56\">essa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>impatto<span class=\"_ _0\"></span> </span>sulla redditivit\u00e0 complessiva. Attivit\u00e0 finanziarie valutate al fair value con impatto sulla redd<span class=\"_ _0\"></span>itivit\u00e0 complessiva<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>classificata <span class=\"_ _23\"></span>fra <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span><span class=\"ff56\">anziarie <span class=\"_ _23\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>impatto <span class=\"_ _28\"></span>sulla </span>redditivit\u00e0 complessiva qualora: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _23\"></span><span class=\"ff5a\">business <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>el</span></span></span> <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>perseguito <span class=\"_ _23\"></span>mediante <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>raccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"></span>finanziari contrattuali sia la vendita delle attivit\u00e0 finanziarie <span class=\"_ _0\"></span><span class=\"ff5e\">(\u201cheld<span class=\"ff5a\">-<span class=\"ls9\">to</span>-collect and<span class=\"_ _0\"></span> </span>sell\u201d)</span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresponsione di capitale e interessi.<span class=\"_ _0\"></span> Inoltre <span class=\"_\"> </span>sono <span class=\"_\"> </span>classificati <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>questa <span class=\"_\"> </span>cate<span class=\"_ _29\"></span>goria, <span class=\"_\"> </span>gli <span class=\"_\"> </span>strumenti <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>capitale <span class=\"_ _2a\"> </span>non <span class=\"_\"> </span>detenuti <span class=\"_\"> </span>per <span class=\"_ _2a\"> </span>finalit\u00e0 <span class=\"_\"> </span>di negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _22\"></span><span class=\"ff5d\">applica <span class=\"_ _22\"></span>l\u2019opzione <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>concessa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>esti </span>strumenti al <span class=\"ff5a\">fair value</span> con impatto sulla reddi<span class=\"_ _0\"></span>tivit\u00e0 complessiva. Strumenti finanziari valutate al costo ammortizzato<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 finanziaria \u00e8 classificata fra le attivit\u00e0 fin<span class=\"_ _0\"></span>a<span class=\"ff56\">nziarie valutate al costo ammortizzato q<span class=\"_ _0\"></span>ualora: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _22\"></span><span class=\"ff5a\">business <span class=\"_ _23\"></span>model</span></span></span> <span class=\"_ _22\"></span>sia <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>possesso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finalizzato <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>ra<span class=\"_ _0\"></span>ccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi finanziari contrattuali (<span class=\"ff5e\">\u201cheld<span class=\"_ _0\"></span><span class=\"ff5a\">- <span class=\"ls9\">to</span>-</span>collect\u201d</span><span class=\"ls7\">); </span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresp<span class=\"_ _0\"></span>onsione di capitale e interessi. Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>valutate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>ammortizzato <span class=\"_ _23\"></span>comprendono <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>(diversi dalle <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>negoziazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>da <span class=\"_ _2c\"></span>quelle <span class=\"_ _2c\"> </span>desig<span class=\"_ _0\"></span>nate <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>) <span class=\"_ _28\"></span>rapp<span class=\"_ _0\"></span>resentativi <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>diverse <span class=\"_ _2c\"></span>forme <span class=\"_ _2c\"> </span>di provvista di fondi da terzi. Misurazione del fair value Il <span class=\"ff5a ls0\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">delle <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e delle <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span></span>fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 <span class=\"_ _0\"></span>determinato al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>loro </span></span>rilevazione iniziale per mezzo del prezzo d<span class=\"_ _0\"></span>i transazione, pari quindi al corrispettivo pag<span class=\"_ _0\"></span>ato o ricevuto<span class=\"_ _0\"></span>. Successivamente, e <span class=\"_ _2b\"></span>ad ogni <span class=\"_ _2b\"></span>data di <span class=\"_ _2b\"></span>bilancio, il <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>degli strumenti <span class=\"_ _2b\"></span>finanziari quotati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un mercato </span></span>attivo <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>basa <span class=\"_ _0\"></span>sui <span class=\"_ _22\"></span>prezzi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. <span class=\"_ _0\"></span>I <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>utilizzati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>derivati <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span><span class=\"ff5a\">bid price</span>, <span class=\"_ _22\"></span>mentre <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>le passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>gli<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5a\">ask <span class=\"_ _22\"></span>price</span>. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>e</span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>strumenti <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>quotati <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>attivo <span class=\"_ _0\"></span>\u00e8 determinato <span class=\"_ _2b\"></span>utilizzando tecniche <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valutazione, <span class=\"_ _29\"></span>basate <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>serie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>metodi <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>as<span class=\"_ _0\"></span>sunzioni <span class=\"_ _2b\"></span>legate a <span class=\"_ _2b\"></span>condizioni di mercato alla data di bilancio.  Il <span class=\"_ _2b\"></span><span class=\"ff5a ls0\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>degli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>quotati <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>determinato <span class=\"_ _29\"></span>scontando <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>flussi <span class=\"_ _29\"></span>finanziari </span></span>futuri per mezzo del tasso di interesse di mercato alla d<span class=\"_ _0\"></span>ata di riferimento del bilancio.<span class=\"_ _0\"></span> Determinazione della perdita di valore (impairment)<span class=\"_ _0\"></span> Tutte <span class=\"_ _2b\"></span>le attivit\u00e0 <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, <span class=\"_ _2b\"></span>ad eccezione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span><span class=\"ff5e\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>e passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>fair <span class=\"_ _29\"></span>value </span>rilevato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>conto economico\u201d, <span class=\"_ _2b\"></span><span class=\"ff56\">son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>riduzione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>valore conformemente <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>definito </span>dall\u2019IFRS 9 e quindi considerando anche gli effett<span class=\"_ _0\"></span><span class=\"ff56\">i delle <span class=\"ff5a\">expected losses</span>. <span class=\"_ _0\"></span> </span>Una <span class=\"_ _2b\"></span>perdita <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un\u2019attivit\u00e0 <span class=\"_ _29\"></span>finanziaria <span class=\"_ _2b\"></span>valutata <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>costo <span class=\"_ _2b\"></span>ammortizzato <span class=\"_ _2b\"></span>corr<span class=\"_ _0\"></span>isponde <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenza fra <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _2c\"></span>contabile <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>il <span class=\"_ _2c\"></span>valore <span class=\"_ _28\"></span>attuale <span class=\"_ _28\"></span>dei <span class=\"_ _2c\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>stimati <span class=\"_ _2c\"></span>attesi <span class=\"_ _28\"></span>attualizzati <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>interesse effett<span class=\"ff5d\">ivo <span class=\"_ _2c\"> </span>originale. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>perdita <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>un\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>finanziaria <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span></span> <span class=\"_ _2c\"></span>rilevato <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"> </span>econo<span class=\"_ _0\"></span>mico complessivo \u00e8 calcolata sulla base del <span class=\"ff5a\">fair val<span class=\"_ _0\"></span>ue</span> di detta attivit\u00e0. Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>rilevate <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>conto <span class=\"_ _22\"></span>economico<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>quelle <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>strumenti finanziari di <span class=\"ff5a\">equity <span class=\"ff5d\">per cui il Gruppo si \u00e8 <span class=\"_ _29\"></span>avvalso dell\u2019opzione di classificarlo a <span class=\"ff5a\">fair value <span class=\"ff56\">con impatto a conto </span></span></span></span>economico complessivo (c.d. \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">OCI Election</span><span class=\"ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span></span>Le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2a\"> </span>ripristinate <span class=\"_ _2d\"> </span>se <span class=\"_\"> </span>il <span class=\"_ _2d\"> </span>s<span class=\"_ _0\"></span>uccessivo <span class=\"_ _2a\"> </span>incremento <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>valore <span class=\"_ _2a\"> </span>pu\u00f2 <span class=\"_\"> </span>essere <span class=\"_ _2d\"> </span>og<span class=\"_ _0\"></span>gettivamente collegato <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>evento <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>verificato <span class=\"_ _22\"></span>successivamente <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>riduzion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dello <span class=\"_ _0\"></span>stesso. <span class=\"_ _22\"></span>Nel <span class=\"_ _22\"></span>caso <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 valutate <span class=\"_ _2f\"> </span>al <span class=\"_ _2f\"> </span>costo <span class=\"_ _2f\"> </span>ammortizzato <span class=\"_ _2f\"> </span>e <span class=\"_ _2f\"> </span>delle <span class=\"_ _2f\"> </span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _2f\"> </span>value</span> <span class=\"_ _2f\"> </span>rilevato <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _41\"> </span>economico <span class=\"_ _2f\"> </span>complessivo corrispondenti a titoli di debito<span class=\"_ _0\"></span>, il ripristino \u00e8 rilevato a conto economico.<span class=\"_ _0\"></span> Cancellazione (Derecognition)  Il <span class=\"_ _8b\"> </span>Gruppo <span class=\"_ _2e\"> </span>elimina <span class=\"_ _2e\"> </span>un'attivit\u00e0 <span class=\"_ _8b\"> </span>finanziaria <span class=\"_ _2e\"> </span>quando <span class=\"_ _2e\"> </span>scadono <span class=\"_ _2e\"> </span>i <span class=\"_ _8b\"> </span>diritti <span class=\"_ _2e\"> </span>contrattuali <span class=\"_ _2e\"> </span>sui <span class=\"_ _8b\"> </span>flussi <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>c<span class=\"_ _22\"></span>assa dell'attivit\u00e0 <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>pure <span class=\"_ _0\"></span>trasferisce <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>diritti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>ricevere <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>contrattuali <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span>transazione <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> cui <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>trasferiti <span class=\"_ _22\"></span>sostanzialmente <span class=\"_ _23\"></span>tutti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _23\"></span>dell'attivit\u00e0 <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>il Gruppo non <span class=\"_ _0\"></span>trasferisce n\u00e9 mantiene sost<span class=\"_ _0\"></span>anzialmente tutti <span class=\"_ _0\"></span>i rischi e <span class=\"_ _0\"></span>i benefi<span class=\"_ _0\"></span>ci <span class=\"_ _0\"></span>della propriet\u00e0 e <span class=\"_ _0\"></span>non mantiene <span class=\"_ _0\"></span>il controllo dell'attivit\u00e0 finanziaria. Il Gruppo cancella <span class=\"_ _29\"></span>una passivit\u00e0 finanziaria quando i suoi <span class=\"_ _29\"></span>obblighi contrattuali sono estinti <span class=\"_ _29\"></span>o cancellati, o <span class=\"_ _23\"></span>scadono. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _23\"></span>elimina <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quand<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>suoi<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>termini <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>modificati <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i flussi <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>modificata <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>sostanzialmente <span class=\"_ _2d\"> </span>diversi, <span class=\"_ _2c\"></span>nel <span class=\"_ _2d\"> </span>qual <span class=\"_ _28\"></span>caso <span class=\"_ _2d\"> </span>una <span class=\"_ _2c\"></span>nuova <span class=\"_ _2c\"></span>passivit\u00e0 finanziaria <span class=\"_ _28\"></span>basata <span class=\"_ _23\"></span>sui <span class=\"_ _28\"></span>termi<span class=\"_ _0\"></span>ni <span class=\"_ _28\"></span>modificati <span class=\"_ _23\"></span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span>. <span class=\"_ _28\"></span>I <span class=\"_ _28\"></span>termini <span class=\"_ _23\"></span>contrattuali <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>considerati sostanzialmente <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>presenza <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>determinate <span class=\"_ _2b\"></span>car<span class=\"_ _0\"></span>atteristiche <span class=\"_ _2b\"></span>qualitative <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>attualizzato <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _23\"></span>differisce <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>almeno <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>10% <span class=\"_ _22\"></span>dal <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>attualizzato <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>restanti <span class=\"_ _22\"></span>flussi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>passivit\u00e0 finanziaria originale secondo <span class=\"_ _0\"></span>i nuovi termini. Al momento <span class=\"_ _0\"></span>dell'eliminazion<span class=\"_ _0\"></span>e di <span class=\"_ _0\"></span>una passivi<span class=\"_ _0\"></span>t\u00e0 finanziaria, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>differenza <span class=\"_ _0\"></span>tra il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _0\"></span>estinto e il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>(incluse <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>liquide <span class=\"_ _23\"></span>trasferite <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>assunte) <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rilevata <span class=\"_ _23\"></span>nel conto economico. Compensazione tra attivit\u00e0 e passivit\u00e0 f<span class=\"_ _0\"></span>inanziarie<span class=\"ff56\"> </span>Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>compensate <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>presentato <span class=\"_ _23\"></span><span class=\"ff5d\">l\u2019importo <span class=\"_ _22\"></span>netto</span> <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>prospetto della <span class=\"_ _2b\"></span>situazione patrimoniale-finanziaria <span class=\"_ _2b\"></span>quando, e <span class=\"_ _2b\"></span>solo <span class=\"_ _2b\"></span>quando, <span class=\"_ _2b\"></span>il Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>diritto <span class=\"_ _2b\"></span>legalmente esercitabile a <span class=\"_ _2d\"> </span>compensare <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>impo<span class=\"_ _0\"></span>rti <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>intende <span class=\"_ _2d\"> </span>liqui<span class=\"_ _0\"></span>darli <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>netta <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>realizzare <span class=\"_ _2d\"> </span>l'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>liquidare <span class=\"_ _2d\"> </span>la<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>passivit\u00e0 contemporaneamente.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__47": {
   "value": "2.7.5.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Attivit\u00e0 e passivit\u00e0 finanziarie </span></span>Iscrizione e misurazione iniziale<span class=\"ff56\"> </span>Un'attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>(a <span class=\"_ _23\"></span>meno <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>tratti <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>credito <span class=\"_ _28\"></span>commerciale <span class=\"_ _23\"></span>senza <span class=\"_ _28\"></span>una <span class=\"_ _23\"></span>compo<span class=\"_ _0\"></span>nente <span class=\"_ _23\"></span>di<span class=\"_ _22\"></span> finanziamento <span class=\"_ _2a\"> </span>significativa) <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>una <span class=\"_ _2d\"> </span>passivit\u00e0 <span class=\"_\"> </span>finanziaria <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>in<span class=\"_ _0\"></span>izialmente <span class=\"_ _2a\"> </span>valutata <span class=\"_ _2d\"> </span>al <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pi<span class=\"_ _0\"></span>\u00f9, <span class=\"_ _2a\"> </span>per <span class=\"_ _2d\"> </span>un elemento non a <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value through profit <span class=\"_ _29\"></span>&amp; loss<span class=\"ff56\"> <span class=\"ff5d ls16\">(\u201c</span>FVTPL<span class=\"ff5d ls3\">\u201d)</span>, i <span class=\"_ _29\"></span>costi di transazione <span class=\"_ _29\"></span>direttamente attribuibili alla </span></span>sua acquisizione o emissione. <span class=\"_ _0\"></span> Le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>possono <span class=\"_ _2d\"> </span>essere <span class=\"_ _2c\"></span>costituita<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>disponibilit\u00e0 <span class=\"_ _2c\"> </span>liquide <span class=\"_ _2d\"> </span>ed <span class=\"_ _2d\"> </span>equivalenti, investimenti, crediti commerciali e strumenti finanziari d<span class=\"_ _0\"></span>erivati con <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> positivo.  Le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>comprendono <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>derivant<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dall'emissione <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>un'obbligazione debiti <span class=\"_ _23\"></span>verso <span class=\"_ _22\"></span>banche, <span class=\"_ _23\"></span>debiti <span class=\"_ _23\"></span>commerciali, <span class=\"_ _23\"></span>debiti <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>leasing <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>derivati <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\"> negativi. </span>Le <span class=\"_ _23\"></span>disponibilit\u00e0 <span class=\"_ _23\"></span>liq<span class=\"_ _0\"></span>uide <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>mezzi <span class=\"_ _23\"></span>equivalenti <span class=\"_ _23\"></span>comprendo<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _23\"></span>bancari <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _23\"></span>tit<span class=\"_ _0\"></span>oli <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>br<span class=\"_ _0\"></span>eve termine con<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>scadenza orig<span class=\"_ _0\"></span>inaria in<span class=\"_ _0\"></span>feriore <span class=\"_ _0\"></span>a tre <span class=\"_ _0\"></span>mesi <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>irrilevante di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>variazioni di<span class=\"_ _0\"></span> valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>e sono<span class=\"_ _0\"></span> valutati <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span>valore <span class=\"_ _23\"></span>nominale. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _28\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertiti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di chiusura del bilanci<span class=\"ls1\">o.</span> Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>altre <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _0\"></span>rilevate <span class=\"_ _23\"></span>inizialmente <span class=\"_ _22\"></span>quando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>diventa <span class=\"_ _22\"></span>parte delle disposizioni contrattuali dello strumento. <span class=\"_ _0\"></span> Classificazione e misurazione successiv<span class=\"_ _0\"></span>a<span class=\"ff56\"> </span>Le attivit\u00e0 e passivit\u00e0 finanziarie sono <span class=\"_ _0\"></span>classificate in tre diverse categorie: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutati al <span class=\"ff5a\">fair value</span> con impatto<span class=\"_ _0\"></span> a conto economico <span class=\"ff5d\">(\u201cFVTPL\u201d)<span class=\"_ _0\"></span></span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _2b\"></span>valutate <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>impatto <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2b\"></span>complessiva <span class=\"_ _29\"></span><span class=\"ff5d\">(\u201cFVTOCI\u201d)<span class=\"ff56\">; </span></span></span></span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>Strumenti finanziari valutate al costo ammortizzato <span class=\"ff5d\">(\u201c<span class=\"_ _0\"></span>CA\u201d)</span>. Strumenti finanziari valutati al fair value con impatto a <span class=\"_ _0\"></span>conto economico<span class=\"_ _0\"></span> Le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _2c\"> </span>finanziarie <span class=\"_ _2c\"> </span>acqui<span class=\"_ _0\"></span>site <span class=\"_ _28\"></span>o <span class=\"_ _2c\"> </span>detenute <span class=\"_ _2c\"> </span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _28\"></span>con <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>fine <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"></span>vendita <span class=\"_ _2c\"></span>sono classificate come \u201cattivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span><span class=\"ff56\">finanziarie al <span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> </span>rilevato a conto economico\u201d.<span class=\"ff56\"> </span>Un\u2019attivit\u00e0 <span class=\"_ _2b\"></span>finanziaria <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>derivata pu\u00f2 <span class=\"_ _2b\"></span>essere <span class=\"_ _2b\"></span>designata <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>qualora tale <span class=\"_ _2b\"></span>designazione <span class=\"_ _2b\"></span>consenta </span></span>di <span class=\"_ _22\"></span>evitare <span class=\"_ _23\"></span><span class=\"ff5a\">accounting <span class=\"_ _22\"></span>mismatch<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _22\"></span>dalla <span class=\"_ _23\"></span>valutazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>associate <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>secondo <span class=\"_ _22\"></span>criteri valutativi diversi. Le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, analogamente alle <span class=\"_ _2b\"></span>attivit\u00e0 finanziarie, possono <span class=\"_ _29\"></span>essere <span class=\"_ _2b\"></span>desi<span class=\"_ _0\"></span>gnate, coerentemente a quanto <span class=\"_ _0\"></span>disposto da <span class=\"_ _0\"></span>IFRS 9, <span class=\"_ _0\"></span>al momento <span class=\"_ _0\"></span>della rilevazione <span class=\"_ _0\"></span>iniziale, come <span class=\"_ _0\"></span>passivit\u00e0 finanziarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair </span>value<span class=\"ff56\">, purch\u00e9: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>tale <span class=\"_ _28\"></span>designazione <span class=\"_ _2c\"></span>elimini <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>riduca <span class=\"_ _28\"></span>no<span class=\"_ _0\"></span>tevolmente <span class=\"_ _28\"></span>una <span class=\"_ _2c\"></span>discordanza <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>altrimenti <span class=\"_ _28\"></span>risulterebb<span class=\"_ _0\"></span>e dalla valutazione su basi diverse di attivit\u00e0<span class=\"_ _0\"></span> o passivit\u00e0 e dei relativi utili e perd<span class=\"_ _0\"></span>ite; ovvero -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>un <span class=\"_ _0\"></span>gruppo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie, <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>entrambe <span class=\"_ _22\"></span>sia <span class=\"_ _0\"></span>ge<span class=\"_ _0\"></span>stito <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>valutato <span class=\"_ _22\"></span>al fair <span class=\"_\"> </span>value<span class=\"ff56\"> <span class=\"_\"> </span>secondo <span class=\"_\"> </span>una <span class=\"_\"> </span>gestione <span class=\"_\"> </span>del <span class=\"_\"> </span>rischio <span class=\"_\"> </span>o <span class=\"_\"> </span>una <span class=\"_\"> </span>strategia <span class=\"_\"> </span>di <span class=\"_\"> </span>investimento <span class=\"_\"> </span>documentata </span>internamente agli Organi Amministrativi <span class=\"_ _0\"></span>delle entit\u00e0. Un\u2019attivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>classificata <span class=\"_ _0\"></span>fra <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>finanziarie<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _0\"></span>ob<span class=\"_ _0\"></span>bligatoriamente <span class=\"_ _0\"></span>valutate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value<span class=\"_ _0\"></span></span> </span>qualora la <span class=\"_ _29\"></span>stessa <span class=\"_ _29\"></span>non soddisfi le <span class=\"_ _2b\"></span>condizion<span class=\"_ _0\"></span>i, in <span class=\"_ _29\"></span>termini di <span class=\"ff5a\">business <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>el<span class=\"ff56\"> o <span class=\"_ _29\"></span>di caratteristiche <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>ei flussi di <span class=\"_ _2b\"></span>cassa,<span class=\"_ _0\"></span> </span></span>per la valutazione al costo ammortizzato o al <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> con impatto sulla red<span class=\"_ _0\"></span>ditivit\u00e0 complessiv<span class=\"ls3\">a.</span> In particolare sono classificati in questo portafoglio<span class=\"_ _0\"></span>: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>debito, <span class=\"_ _23\"></span>titoli <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>finanziame<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>cui <span class=\"_ _28\"></span><span class=\"ff5a\">business <span class=\"_ _28\"></span>model</span> <span class=\"_ _23\"></span>n<span class=\"_ _0\"></span>on <span class=\"_ _28\"></span>risulta <span class=\"_ _23\"></span>essere <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span><span class=\"ff5a\">held<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>to </span>collect<span class=\"ff56\"> n\u00e9 </span>held to collect and sell<span class=\"ff56\"> <span class=\"_ _0\"></span>ma che non appartengono al portafoglio di negoziazione;<span class=\"_ _0\"></span> </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>debito, <span class=\"_ _22\"></span>titoli <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>finanziamenti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>solamente <span class=\"_ _22\"></span>la corresponsione di capitale e interessi; <span class=\"_ _0\"></span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>quote di OICR; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>strumenti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>capitale <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>detenuti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>finalit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>quali <span class=\"_ _28\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>applica l\u2019opzione <span class=\"_ _22\"></span>conc<span class=\"ff56\">essa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _22\"></span>questi <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>impatto<span class=\"_ _0\"></span> </span>sulla redditivit\u00e0 complessiva. Attivit\u00e0 finanziarie valutate al fair value con impatto sulla redd<span class=\"_ _0\"></span>itivit\u00e0 complessiva<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>classificata <span class=\"_ _23\"></span>fra <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fin<span class=\"_ _0\"></span><span class=\"ff56\">anziarie <span class=\"_ _23\"></span>valu<span class=\"_ _0\"></span>tate <span class=\"_ _23\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>impatto <span class=\"_ _28\"></span>sulla </span>redditivit\u00e0 complessiva qualora: -<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _23\"></span><span class=\"ff5a\">business <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>el</span></span></span> <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>perseguito <span class=\"_ _23\"></span>mediante <span class=\"_ _23\"></span>sia <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>raccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"></span>finanziari contrattuali sia la vendita delle attivit\u00e0 finanziarie <span class=\"_ _0\"></span><span class=\"ff5e\">(\u201cheld<span class=\"ff5a\">-<span class=\"ls9\">to</span>-collect and<span class=\"_ _0\"></span> </span>sell\u201d)</span>; -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresponsione di capitale e interessi.<span class=\"_ _0\"></span> Inoltre <span class=\"_\"> </span>sono <span class=\"_\"> </span>classificati <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>questa <span class=\"_\"> </span>cate<span class=\"_ _29\"></span>goria, <span class=\"_\"> </span>gli <span class=\"_\"> </span>strumenti <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>capitale <span class=\"_ _2a\"> </span>non <span class=\"_\"> </span>detenuti <span class=\"_\"> </span>per <span class=\"_ _2a\"> </span>finalit\u00e0 <span class=\"_\"> </span>di negoziazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _22\"></span><span class=\"ff5d\">l\u2019entit\u00e0</span> <span class=\"_ _22\"></span><span class=\"ff5d\">applica <span class=\"_ _22\"></span>l\u2019opzione <span class=\"_ _22\"></span>contabile <span class=\"_ _22\"></span>concessa <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>9 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>tare <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>esti </span>strumenti al <span class=\"ff5a\">fair value</span> con impatto sulla reddi<span class=\"_ _0\"></span>tivit\u00e0 complessiva. Strumenti finanziari valutate al costo ammortizzato<span class=\"_ _0\"></span> Un\u2019attivit\u00e0 finanziaria \u00e8 classificata fra le attivit\u00e0 fin<span class=\"_ _0\"></span>a<span class=\"ff56\">nziarie valutate al costo ammortizzato q<span class=\"_ _0\"></span>ualora: </span>-<span class=\"ff58\"> <span class=\"_ _4b\"> </span><span class=\"ff5d\">l\u2019obiettivo <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>suo <span class=\"_ _22\"></span><span class=\"ff5a\">business <span class=\"_ _23\"></span>model</span></span></span> <span class=\"_ _22\"></span>sia <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>possesso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finalizzato <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>ra<span class=\"_ _0\"></span>ccolta <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>flussi finanziari contrattuali (<span class=\"ff5e\">\u201cheld<span class=\"_ _0\"></span><span class=\"ff5a\">- <span class=\"ls9\">to</span>-</span>collect\u201d</span><span class=\"ls7\">); </span> -<span class=\"ff58\"> <span class=\"_ _4b\"> </span></span>i relativi flussi di cassa rappresentino solamente la corresp<span class=\"_ _0\"></span>onsione di capitale e interessi. Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>valutate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>ammortizzato <span class=\"_ _23\"></span>comprendono <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _23\"></span>(diversi dalle <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>negoziazione <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>da <span class=\"_ _2c\"></span>quelle <span class=\"_ _2c\"> </span>desig<span class=\"_ _0\"></span>nate <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span>) <span class=\"_ _28\"></span>rapp<span class=\"_ _0\"></span>resentativi <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>diverse <span class=\"_ _2c\"></span>forme <span class=\"_ _2c\"> </span>di provvista di fondi da terzi. Misurazione del fair value Il <span class=\"ff5a ls0\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">delle <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e delle <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span></span>fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 <span class=\"_ _0\"></span>determinato al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>loro </span></span>rilevazione iniziale per mezzo del prezzo d<span class=\"_ _0\"></span>i transazione, pari quindi al corrispettivo pag<span class=\"_ _0\"></span>ato o ricevuto<span class=\"_ _0\"></span>. Successivamente, e <span class=\"_ _2b\"></span>ad ogni <span class=\"_ _2b\"></span>data di <span class=\"_ _2b\"></span>bilancio, il <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>degli strumenti <span class=\"_ _2b\"></span>finanziari quotati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un mercato </span></span>attivo <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>basa <span class=\"_ _0\"></span>sui <span class=\"_ _22\"></span>prezzi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. <span class=\"_ _0\"></span>I <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>utilizzati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>derivati <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span><span class=\"ff5a\">bid price</span>, <span class=\"_ _22\"></span>mentre <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>le passivit\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>gli<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5a\">ask <span class=\"_ _22\"></span>price</span>. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>e</span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>strumenti <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>quotati <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>un <span class=\"_ _0\"></span>mercato <span class=\"_ _22\"></span>attivo <span class=\"_ _0\"></span>\u00e8 determinato <span class=\"_ _2b\"></span>utilizzando tecniche <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>valutazione, <span class=\"_ _29\"></span>basate <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>serie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>metodi <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>as<span class=\"_ _0\"></span>sunzioni <span class=\"_ _2b\"></span>legate a <span class=\"_ _2b\"></span>condizioni di mercato alla data di bilancio.  Il <span class=\"_ _2b\"></span><span class=\"ff5a ls0\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>degli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>quotati <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>determinato <span class=\"_ _29\"></span>scontando <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>flussi <span class=\"_ _29\"></span>finanziari </span></span>futuri per mezzo del tasso di interesse di mercato alla d<span class=\"_ _0\"></span>ata di riferimento del bilancio.<span class=\"_ _0\"></span> Determinazione della perdita di valore (impairment)<span class=\"_ _0\"></span> Tutte <span class=\"_ _2b\"></span>le attivit\u00e0 <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie, <span class=\"_ _2b\"></span>ad eccezione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span><span class=\"ff5e\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>e passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>fair <span class=\"_ _29\"></span>value </span>rilevato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>conto economico\u201d, <span class=\"_ _2b\"></span><span class=\"ff56\">son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>soggette <span class=\"_ _2b\"></span>a verifica <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>riduzione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>valore conformemente <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>definito </span>dall\u2019IFRS 9 e quindi considerando anche gli effett<span class=\"_ _0\"></span><span class=\"ff56\">i delle <span class=\"ff5a\">expected losses</span>. <span class=\"_ _0\"></span> </span>Una <span class=\"_ _2b\"></span>perdita <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>un\u2019attivit\u00e0 <span class=\"_ _29\"></span>finanziaria <span class=\"_ _2b\"></span>valutata <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>costo <span class=\"_ _2b\"></span>ammortizzato <span class=\"_ _2b\"></span>corr<span class=\"_ _0\"></span>isponde <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenza fra <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>valore <span class=\"_ _2c\"></span>contabile <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>il <span class=\"_ _2c\"></span>valore <span class=\"_ _28\"></span>attuale <span class=\"_ _28\"></span>dei <span class=\"_ _2c\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>stimati <span class=\"_ _2c\"></span>attesi <span class=\"_ _28\"></span>attualizzati <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>interesse effett<span class=\"ff5d\">ivo <span class=\"_ _2c\"> </span>originale. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>perdita <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>un\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>finanziaria <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span></span> <span class=\"_ _2c\"></span>rilevato <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>conto <span class=\"_ _2c\"> </span>econo<span class=\"_ _0\"></span>mico complessivo \u00e8 calcolata sulla base del <span class=\"ff5a\">fair val<span class=\"_ _0\"></span>ue</span> di detta attivit\u00e0. Tutte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>rilevate <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>conto <span class=\"_ _22\"></span>economico<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>quelle <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>strumenti finanziari di <span class=\"ff5a\">equity <span class=\"ff5d\">per cui il Gruppo si \u00e8 <span class=\"_ _29\"></span>avvalso dell\u2019opzione di classificarlo a <span class=\"ff5a\">fair value <span class=\"ff56\">con impatto a conto </span></span></span></span>economico complessivo (c.d. \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">OCI Election</span><span class=\"ls3\">\u201d)<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span></span>Le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>vengono <span class=\"_ _2a\"> </span>ripristinate <span class=\"_ _2d\"> </span>se <span class=\"_\"> </span>il <span class=\"_ _2d\"> </span>s<span class=\"_ _0\"></span>uccessivo <span class=\"_ _2a\"> </span>incremento <span class=\"_ _2a\"> </span>del <span class=\"_ _2a\"> </span>valore <span class=\"_ _2a\"> </span>pu\u00f2 <span class=\"_\"> </span>essere <span class=\"_ _2d\"> </span>og<span class=\"_ _0\"></span>gettivamente collegato <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>evento <span class=\"_ _22\"></span>che <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>verificato <span class=\"_ _22\"></span>successivamente <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>riduzion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dello <span class=\"_ _0\"></span>stesso. <span class=\"_ _22\"></span>Nel <span class=\"_ _22\"></span>caso <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 valutate <span class=\"_ _2f\"> </span>al <span class=\"_ _2f\"> </span>costo <span class=\"_ _2f\"> </span>ammortizzato <span class=\"_ _2f\"> </span>e <span class=\"_ _2f\"> </span>delle <span class=\"_ _2f\"> </span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _2f\"> </span>value</span> <span class=\"_ _2f\"> </span>rilevato <span class=\"_ _2f\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _41\"> </span>economico <span class=\"_ _2f\"> </span>complessivo corrispondenti a titoli di debito<span class=\"_ _0\"></span>, il ripristino \u00e8 rilevato a conto economico.<span class=\"_ _0\"></span> Cancellazione (Derecognition)  Il <span class=\"_ _8b\"> </span>Gruppo <span class=\"_ _2e\"> </span>elimina <span class=\"_ _2e\"> </span>un'attivit\u00e0 <span class=\"_ _8b\"> </span>finanziaria <span class=\"_ _2e\"> </span>quando <span class=\"_ _2e\"> </span>scadono <span class=\"_ _2e\"> </span>i <span class=\"_ _8b\"> </span>diritti <span class=\"_ _2e\"> </span>contrattuali <span class=\"_ _2e\"> </span>sui <span class=\"_ _8b\"> </span>flussi <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>c<span class=\"_ _22\"></span>assa dell'attivit\u00e0 <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziaria <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>pure <span class=\"_ _0\"></span>trasferisce <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>diritti <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>ricevere <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _22\"></span>contrattuali <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>una <span class=\"_ _22\"></span>transazione <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> cui <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>trasferiti <span class=\"_ _22\"></span>sostanzialmente <span class=\"_ _23\"></span>tutti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _23\"></span>dell'attivit\u00e0 <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>il Gruppo non <span class=\"_ _0\"></span>trasferisce n\u00e9 mantiene sost<span class=\"_ _0\"></span>anzialmente tutti <span class=\"_ _0\"></span>i rischi e <span class=\"_ _0\"></span>i benefi<span class=\"_ _0\"></span>ci <span class=\"_ _0\"></span>della propriet\u00e0 e <span class=\"_ _0\"></span>non mantiene <span class=\"_ _0\"></span>il controllo dell'attivit\u00e0 finanziaria. Il Gruppo cancella <span class=\"_ _29\"></span>una passivit\u00e0 finanziaria quando i suoi <span class=\"_ _29\"></span>obblighi contrattuali sono estinti <span class=\"_ _29\"></span>o cancellati, o <span class=\"_ _23\"></span>scadono. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _23\"></span>elimina <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _23\"></span>anche <span class=\"_ _23\"></span>quand<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>suoi<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>termini <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>modificati <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i flussi <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2d\"> </span>modificata <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"> </span>sostanzialmente <span class=\"_ _2d\"> </span>diversi, <span class=\"_ _2c\"></span>nel <span class=\"_ _2d\"> </span>qual <span class=\"_ _28\"></span>caso <span class=\"_ _2d\"> </span>una <span class=\"_ _2c\"></span>nuova <span class=\"_ _2c\"></span>passivit\u00e0 finanziaria <span class=\"_ _28\"></span>basata <span class=\"_ _23\"></span>sui <span class=\"_ _28\"></span>termi<span class=\"_ _0\"></span>ni <span class=\"_ _28\"></span>modificati <span class=\"_ _23\"></span>vi<span class=\"_ _0\"></span>ene <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span>. <span class=\"_ _28\"></span>I <span class=\"_ _28\"></span>termini <span class=\"_ _23\"></span>contrattuali <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>considerati sostanzialmente <span class=\"_ _2b\"></span>diversi <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>presenza <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>determinate <span class=\"_ _2b\"></span>car<span class=\"_ _0\"></span>atteristiche <span class=\"_ _2b\"></span>qualitative <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>se <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>attualizzato <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _23\"></span>differisce <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>almeno <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>10% <span class=\"_ _22\"></span>dal <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>attualizzato <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>restanti <span class=\"_ _22\"></span>flussi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>passivit\u00e0 finanziaria originale secondo <span class=\"_ _0\"></span>i nuovi termini. Al momento <span class=\"_ _0\"></span>dell'eliminazion<span class=\"_ _0\"></span>e di <span class=\"_ _0\"></span>una passivi<span class=\"_ _0\"></span>t\u00e0 finanziaria, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>differenza <span class=\"_ _0\"></span>tra il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _0\"></span>estinto e il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>(incluse <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>liquide <span class=\"_ _23\"></span>trasferite <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>assunte) <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rilevata <span class=\"_ _23\"></span>nel conto economico. Compensazione tra attivit\u00e0 e passivit\u00e0 f<span class=\"_ _0\"></span>inanziarie<span class=\"ff56\"> </span>Le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>compensate <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>presentato <span class=\"_ _23\"></span><span class=\"ff5d\">l\u2019importo <span class=\"_ _22\"></span>netto</span> <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>prospetto della <span class=\"_ _2b\"></span>situazione patrimoniale-finanziaria <span class=\"_ _2b\"></span>quando, e <span class=\"_ _2b\"></span>solo <span class=\"_ _2b\"></span>quando, <span class=\"_ _2b\"></span>il Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>diritto <span class=\"_ _2b\"></span>legalmente esercitabile a <span class=\"_ _2d\"> </span>compensare <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>impo<span class=\"_ _0\"></span>rti <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>intende <span class=\"_ _2d\"> </span>liqui<span class=\"_ _0\"></span>darli <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>netta <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>realizzare <span class=\"_ _2d\"> </span>l'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>liquidare <span class=\"_ _2d\"> </span>la<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>passivit\u00e0 contemporaneamente.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__52": {
   "value": "2.7.6.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Strumenti finanziari derivati </span></span>Il Gruppo util<span class=\"_ _29\"></span>izza una <span class=\"_ _29\"></span>serie di <span class=\"_ _29\"></span>strumenti finanziari <span class=\"_ _29\"></span>derivati per gestire <span class=\"_ _29\"></span>la <span class=\"_ _29\"></span>propria<span class=\"_ _0\"></span> esposizione al <span class=\"_ _29\"></span>rischio di tasso di interesse e <span class=\"_ _29\"></span>di cambio. Tali strumenti comprendono operazioni di <span class=\"_ _29\"></span>cambio a termine, swa<span class=\"_ _29\"></span>p su valute, swap su valute incrociate, swap su tassi d'<span class=\"_ _0\"></span>interesse e cap su tassi d'interesse. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>i<span class=\"_ _0\"></span>nizialmente <span class=\"_ _28\"></span>iscritti <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>stipula <span class=\"_ _28\"></span>del contratto. Il <span class=\"ff5a\">fair value</span> viene adeguato a ogni successiva data di bilancio. Qualsiasi utile o perdit<span class=\"_ _0\"></span>a derivante da una variazione del <span class=\"ff5a\">fair value</span> di uno strumento finanziario derivato che non fa parte di una copertura dei flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>investimento <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>estero <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>efficace, viene <span class=\"_ _2b\"></span>rilevato nel <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>gli <span class=\"_ _2b\"></span>strumenti finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>una <span class=\"_ _2b\"></span>relazione di <span class=\"_ _2b\"></span>copertura, il momento della rilevazio<span class=\"_ _0\"></span>ne degli utili o <span class=\"_ _0\"></span>delle perdite dipende <span class=\"_ _0\"></span>dalla natura della copertura. <span class=\"_ _0\"></span>Il Gruppo <span class=\"_ _0\"></span>utilizza alcuni <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>coprire <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _28\"></span>riconosciute. <span class=\"_ _28\"></span>Inoltre, <span class=\"_ _2c\"></span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hedge <span class=\"_ _28\"></span>accou<span class=\"_ _0\"></span>nting</span> viene <span class=\"_ _0\"></span>applicato <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>alcuni <span class=\"_ _22\"></span>impegni <span class=\"_ _0\"></span>irrevo<span class=\"_ _0\"></span>cabili <span class=\"_ _22\"></span><span class=\"ff5a\">off <span class=\"_ _0\"></span>bala<span class=\"_ _0\"></span>nce</span>. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>operazioni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>camb<span class=\"_ _0\"></span>io <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutate voce per voce <span class=\"_ _29\"></span>al tasso a <span class=\"_ _29\"></span>termine della data di <span class=\"_ _29\"></span>bilancio e le <span class=\"_ _29\"></span>differenze di cam<span class=\"_ _29\"></span>bio derivanti dal tasso <span class=\"_ _29\"></span>di cambio a termine contrattato sono incluse nel conto econ<span class=\"_ _0\"></span>omico.  Gli importi de<span class=\"_ _29\"></span>i contratti di <span class=\"_ _29\"></span>swap su <span class=\"_ _29\"></span>tassi d'interesse <span class=\"_ _29\"></span>sono contabilizzati nel <span class=\"_ _29\"></span>conto economico al<span class=\"_ _29\"></span>la data di pagamento o <span class=\"_ _0\"></span>alla data<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>bilancio. In<span class=\"_ _0\"></span>oltre, i con<span class=\"_ _0\"></span>tratti di <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e swap <span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e cap <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti al loro <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>alla data <span class=\"_ _2b\"></span>di chiusura <span class=\"_ _2b\"></span>del bilancio <span class=\"_ _2b\"></span>e le <span class=\"_ _2b\"></span>variazioni del <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>sono rilevate <span class=\"_ _2b\"></span>nel conto <span class=\"_ _2b\"></span>economico </span></span></span></span>dell'esercizio in corso, a condizione che non si app<span class=\"_ _0\"></span>lichi l'hedge accounting.<span class=\"_ _0\"></span> Gli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>relazione <span class=\"_ _3d\"></span>di <span class=\"_ _2b\"></span>copertura <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>classificati <span class=\"_ _2b\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 o passivit\u00e0 finanziarie correnti.<span class=\"_ _0\"></span> Operazioni di copertura Il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>avvale <span class=\"_ _2b\"></span>dell'opzione <span class=\"_ _2b\"></span>prevista <span class=\"_ _29\"></span>dall'IFRS <span class=\"_ _2b\"></span>9 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>contin<span class=\"_ _0\"></span>uare <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>contabilizzazione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>operazioni di copertura in base ai requisiti dello IAS 39.<span class=\"_ _0\"></span>  A <span class=\"_ _22\"></span>seconda <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>volume, <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>strut<span class=\"_ _0\"></span>tura <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>rischio, <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>designa <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>strumenti finanziari derivati come coperture di flussi di cassa o<span class=\"_ _0\"></span> coperture di un investimento netto <span class=\"_ _0\"></span>estero.<span class=\"_ _0\"></span> Quando <span class=\"_ _2d\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2a\"> </span>finanziari <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>caratteristiche <span class=\"_ _2a\"> </span>richieste <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hed<span class=\"_ _0\"></span>ge <span class=\"_ _2d\"> </span>accou<span class=\"_ _0\"></span>nting</span>, <span class=\"_ _2d\"> </span>vengo<span class=\"_ _0\"></span>no applicati i seguenti trattamenti contabili:<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>Fair <span class=\"_ _49\"> </span>value <span class=\"_ _49\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _49\"> </span>se <span class=\"_ _49\"> </span>un<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>strumento <span class=\"_ _49\"> </span>finanziario <span class=\"_ _46\"> </span>derivato <span class=\"_ _49\"> </span>\u00e8 <span class=\"_ _49\"> </span>designato <span class=\"_ _49\"> </span>come <span class=\"_ _49\"> </span>copertura </span>dell'esposizione <span class=\"_ _23\"></span>alle <span class=\"_ _23\"></span>variazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un'attivit\u00e0 <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>attribuibile <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>un particolare <span class=\"_ _2c\"> </span>rischio<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>pu\u00f2 <span class=\"_ _2c\"> </span>in<span class=\"_ _0\"></span>fluire <span class=\"_ _2d\"> </span>sul <span class=\"_ _2c\"></span>conto <span class=\"_ _2d\"> </span>economico, <span class=\"_ _2c\"></span>l'utile <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"></span>la <span class=\"_ _2d\"> </span>perdita <span class=\"_ _2c\"></span>derivanti <span class=\"_ _2d\"> </span>dalle successive <span class=\"_ _2f\"> </span>variazioni <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span><span class=\"ff5a\">fair <span class=\"_ _41\"> </span>value</span> <span class=\"_ _2f\"> </span>dello <span class=\"_ _41\"> </span>strumento <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>copertura <span class=\"_ _41\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>con<span class=\"_ _0\"></span>to economico. <span class=\"_ _28\"></span>L'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>elemento <span class=\"_ _28\"></span>coperto, <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _28\"></span>attribuibile <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>cop<span class=\"_ _0\"></span>erto, modificano il valore contabile di tale elemento e <span class=\"_ _0\"></span>sono rilevati a conto<span class=\"_ _0\"></span> economico; \u25aa <span class=\"_ _30\"> </span>Cash <span class=\"_ _2d\"> </span>flow <span class=\"_ _2a\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _2d\"> </span>se <span class=\"_ _2a\"> </span>uno <span class=\"_ _2d\"> </span>strumento <span class=\"_ _2a\"> </span>finanziario <span class=\"_ _2d\"> </span>derivato <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>designato <span class=\"_ _2d\"> </span>come <span class=\"_ _2a\"> </span>copertura <span class=\"_ _2d\"> </span>delle </span>variazioni <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _23\"></span>futuri <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un'attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>un'o<span class=\"_ _0\"></span>perazione <span class=\"_ _23\"></span>attesa altamente probabile e che potrebbe produrre effetti sul conto economico, la parte eff<span class=\"_ _0\"></span>icace degli utili <span class=\"_\"> </span>o <span class=\"_\"> </span>delle <span class=\"_\"> </span>perdite <span class=\"_\"> </span>dello <span class=\"_\"> </span>strumento <span class=\"_\"> </span>finanziario <span class=\"_\"> </span>(variazione <span class=\"_\"> </span>del <span class=\"_ _8b\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span>) <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>rilevata <span class=\"_\"> </span>nel patrimonio <span class=\"_ _3c\"> </span>netto. <span class=\"_ _3c\"> </span>L'utile <span class=\"_ _41\"> </span>o <span class=\"_ _3c\"> </span>la <span class=\"_ _3c\"> </span>perdita <span class=\"_ _3c\"> </span>accumulati <span class=\"_ _3c\"> </span>sono <span class=\"_ _3c\"> </span>stornati <span class=\"_ _3c\"> </span>dal <span class=\"_ _41\"> </span>patri<span class=\"_ _0\"></span>monio <span class=\"_ _3c\"> </span>netto <span class=\"_ _3c\"> </span>e contabilizzati a conto <span class=\"_ _0\"></span>economico nello s<span class=\"_ _0\"></span>tesso periodo in<span class=\"_ _0\"></span> cui si <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>verificata l'operazion<span class=\"_ _0\"></span>e oggetto di copertura. La <span class=\"_ _23\"></span>relazione <span class=\"_ _22\"></span>tra <span class=\"_ _23\"></span>l'elemento <span class=\"_ _23\"></span>coperto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>lo <span class=\"_ _23\"></span>strumento <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _23\"></span>compresi <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>obiettivi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>gestione <span class=\"_ _23\"></span>del rischio <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>strategia <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>intraprendere <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>perazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>documentati <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>pertura.<span class=\"_ _0\"></span> Inoltre, <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>un'operazione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>corso <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>sua <span class=\"_ _23\"></span>durata, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>verifi<span class=\"_ _0\"></span>ca <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>documenta regolarmente <span class=\"_ _23\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>altament<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>efficace <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>termini <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>compensazione <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>variazioni <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> cassa <span class=\"_ _2d\"> </span>dell'elemento <span class=\"_ _2a\"> </span>coperto <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>dell'investimento <span class=\"_ _2d\"> </span>netto. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2d\"> </span>info<span class=\"_ _0\"></span>rmazioni <span class=\"_ _2d\"> </span>sui <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>qu<span class=\"_ _0\"></span>esti <span class=\"_ _2d\"> </span>strumenti<span class=\"_ _0\"></span> finanziari <span class=\"_ _2e\"> </span>derivati <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>fornite <span class=\"_ _2e\"> </span><span class=\"ff5d\">nella <span class=\"_ _2f\"> </span>Sezione <span class=\"_ _2e\"> </span>\u201cAltre <span class=\"_ _2f\"> </span>informazioni\u201d</span>; <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2f\"> </span>della <span class=\"_ _2e\"> </span>riserva <span class=\"_ _2f\"> </span>per <span class=\"_ _2e\"> </span>gli adeguamenti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _28\"></span>all'interno <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>altre <span class=\"_ _28\"></span>componenti <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>economico complessivo possono essere ricavate dal prospetto <span class=\"_ _0\"></span>delle variazioni del patrimonio netto.<span class=\"_ _0\"></span> La <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>efficace <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>variazione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>derivati <span class=\"_ _2d\"> </span>designati <span class=\"_ _2d\"> </span>come copertura <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _28\"></span>investimenti <span class=\"_ _23\"></span>netti <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto; <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>parte <span class=\"_ _23\"></span>inefficace <span class=\"_ _28\"></span>\u00e8 rilevata <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>nel conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Gli importi <span class=\"_ _2b\"></span>rilevati nel <span class=\"_ _2b\"></span>patrimonio netto <span class=\"_ _2b\"></span>sono riclassificati <span class=\"_ _2b\"></span>nell'utile o nella perd<span class=\"_ _0\"></span>ita nel<span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> in <span class=\"_ _0\"></span>cui l'elemento cop<span class=\"_ _0\"></span>erto \u00e8 <span class=\"_ _0\"></span>rilevato nel <span class=\"_ _0\"></span>reddito. Le <span class=\"_ _0\"></span>variazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>degli investimenti netti di copertura sono compensate con le v<span class=\"_ _0\"></span>ariazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> degli strumenti di copertu<span class=\"_ _0\"></span>ra. La <span class=\"_ _28\"></span>contabilizzazione <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura <span class=\"_ _28\"></span>viene <span class=\"_ _23\"></span>interrotta <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>lo <span class=\"_ _28\"></span>strumento<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura scade <span class=\"_ _2b\"></span>o viene <span class=\"_ _2b\"></span>venduto, <span class=\"_ _2b\"></span>terminato o <span class=\"_ _2b\"></span>esercitato, <span class=\"_ _2b\"></span>o non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>pi\u00f9 ritenuto <span class=\"_ _2b\"></span>efficace. <span class=\"_ _2b\"></span>Qualsiasi utile <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>perdita cumulativa differita <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quel <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>rimane <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevata <span class=\"_ _2b\"></span>quando <span class=\"_ _2b\"></span>l'operazione prevista viene infine registrata nel <span class=\"_ _0\"></span>conto economico. Quando<span class=\"_ _0\"></span> non si prevede pi\u00f9 che un'op<span class=\"_ _0\"></span>erazione prevista si verifichi, <span class=\"_ _28\"></span>l'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>cumulativi <span class=\"_ _2c\"></span>differiti <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>vengono <span class=\"_ _28\"></span>immediatamente <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>ne<span class=\"_ _0\"></span>l conto economico. Gli strumenti finanziari <span class=\"_ _2b\"></span>der<span class=\"_ _0\"></span>ivati designati per <span class=\"_ _29\"></span>le operazioni <span class=\"_ _29\"></span>di copertura <span class=\"_ _29\"></span>sono classificati <span class=\"_ _29\"></span>come attivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>correnti <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>durata <span class=\"_ _22\"></span>residua <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>supera <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>dod<span class=\"_ _0\"></span>ici <span class=\"_ _0\"></span>mesi, <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o passivit\u00e0 correnti, o se la durata residua della relazione d<span class=\"_ _0\"></span>i copertura \u00e8 in<span class=\"_ _0\"></span>feriore a dodici mesi.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__51": {
   "value": "2.7.6.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Strumenti finanziari derivati </span></span>Il Gruppo util<span class=\"_ _29\"></span>izza una <span class=\"_ _29\"></span>serie di <span class=\"_ _29\"></span>strumenti finanziari <span class=\"_ _29\"></span>derivati per gestire <span class=\"_ _29\"></span>la <span class=\"_ _29\"></span>propria<span class=\"_ _0\"></span> esposizione al <span class=\"_ _29\"></span>rischio di tasso di interesse e <span class=\"_ _29\"></span>di cambio. Tali strumenti comprendono operazioni di <span class=\"_ _29\"></span>cambio a termine, swa<span class=\"_ _29\"></span>p su valute, swap su valute incrociate, swap su tassi d'<span class=\"_ _0\"></span>interesse e cap su tassi d'interesse. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>i<span class=\"_ _0\"></span>nizialmente <span class=\"_ _28\"></span>iscritti <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _28\"></span>value</span> <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>stipula <span class=\"_ _28\"></span>del contratto. Il <span class=\"ff5a\">fair value</span> viene adeguato a ogni successiva data di bilancio. Qualsiasi utile o perdit<span class=\"_ _0\"></span>a derivante da una variazione del <span class=\"ff5a\">fair value</span> di uno strumento finanziario derivato che non fa parte di una copertura dei flussi di <span class=\"_ _22\"></span>cassa <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>investimento <span class=\"_ _22\"></span>netto <span class=\"_ _22\"></span>estero <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>quale <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>efficace, viene <span class=\"_ _2b\"></span>rilevato nel <span class=\"_ _2b\"></span>conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>gli <span class=\"_ _2b\"></span>strumenti finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _29\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>una <span class=\"_ _2b\"></span>relazione di <span class=\"_ _2b\"></span>copertura, il momento della rilevazio<span class=\"_ _0\"></span>ne degli utili o <span class=\"_ _0\"></span>delle perdite dipende <span class=\"_ _0\"></span>dalla natura della copertura. <span class=\"_ _0\"></span>Il Gruppo <span class=\"_ _0\"></span>utilizza alcuni <span class=\"_ _28\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _2c\"></span>derivati <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>coprire <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _28\"></span>riconosciute. <span class=\"_ _28\"></span>Inoltre, <span class=\"_ _2c\"></span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hedge <span class=\"_ _28\"></span>accou<span class=\"_ _0\"></span>nting</span> viene <span class=\"_ _0\"></span>applicato <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>alcuni <span class=\"_ _22\"></span>impegni <span class=\"_ _0\"></span>irrevo<span class=\"_ _0\"></span>cabili <span class=\"_ _22\"></span><span class=\"ff5a\">off <span class=\"_ _0\"></span>bala<span class=\"_ _0\"></span>nce</span>. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>operazioni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>camb<span class=\"_ _0\"></span>io <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutate voce per voce <span class=\"_ _29\"></span>al tasso a <span class=\"_ _29\"></span>termine della data di <span class=\"_ _29\"></span>bilancio e le <span class=\"_ _29\"></span>differenze di cam<span class=\"_ _29\"></span>bio derivanti dal tasso <span class=\"_ _29\"></span>di cambio a termine contrattato sono incluse nel conto econ<span class=\"_ _0\"></span>omico.  Gli importi de<span class=\"_ _29\"></span>i contratti di <span class=\"_ _29\"></span>swap su <span class=\"_ _29\"></span>tassi d'interesse <span class=\"_ _29\"></span>sono contabilizzati nel <span class=\"_ _29\"></span>conto economico al<span class=\"_ _29\"></span>la data di pagamento o <span class=\"_ _0\"></span>alla data<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>bilancio. In<span class=\"_ _0\"></span>oltre, i con<span class=\"_ _0\"></span>tratti di <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e swap <span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>interest rat<span class=\"_ _0\"></span>e cap <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>iscritti al loro <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _2b\"></span>alla data <span class=\"_ _2b\"></span>di chiusura <span class=\"_ _2b\"></span>del bilancio <span class=\"_ _2b\"></span>e le <span class=\"_ _2b\"></span>variazioni del <span class=\"_ _2b\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _2b\"></span>sono rilevate <span class=\"_ _2b\"></span>nel conto <span class=\"_ _2b\"></span>economico </span></span></span></span>dell'esercizio in corso, a condizione che non si app<span class=\"_ _0\"></span>lichi l'hedge accounting.<span class=\"_ _0\"></span> Gli <span class=\"_ _2b\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>derivati <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>designati <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>una <span class=\"_ _2b\"></span>relazione <span class=\"_ _3d\"></span>di <span class=\"_ _2b\"></span>copertura <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>classificati <span class=\"_ _2b\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 o passivit\u00e0 finanziarie correnti.<span class=\"_ _0\"></span> Operazioni di copertura Il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>avvale <span class=\"_ _2b\"></span>dell'opzione <span class=\"_ _2b\"></span>prevista <span class=\"_ _29\"></span>dall'IFRS <span class=\"_ _2b\"></span>9 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>contin<span class=\"_ _0\"></span>uare <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>contabilizzazione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>operazioni di copertura in base ai requisiti dello IAS 39.<span class=\"_ _0\"></span>  A <span class=\"_ _22\"></span>seconda <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>volume, <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>strut<span class=\"_ _0\"></span>tura <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>rischio, <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>designa <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>strumenti finanziari derivati come coperture di flussi di cassa o<span class=\"_ _0\"></span> coperture di un investimento netto <span class=\"_ _0\"></span>estero.<span class=\"_ _0\"></span> Quando <span class=\"_ _2d\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2a\"> </span>finanziari <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>caratteristiche <span class=\"_ _2a\"> </span>richieste <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hed<span class=\"_ _0\"></span>ge <span class=\"_ _2d\"> </span>accou<span class=\"_ _0\"></span>nting</span>, <span class=\"_ _2d\"> </span>vengo<span class=\"_ _0\"></span>no applicati i seguenti trattamenti contabili:<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>Fair <span class=\"_ _49\"> </span>value <span class=\"_ _49\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _49\"> </span>se <span class=\"_ _49\"> </span>un<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>strumento <span class=\"_ _49\"> </span>finanziario <span class=\"_ _46\"> </span>derivato <span class=\"_ _49\"> </span>\u00e8 <span class=\"_ _49\"> </span>designato <span class=\"_ _49\"> </span>come <span class=\"_ _49\"> </span>copertura </span>dell'esposizione <span class=\"_ _23\"></span>alle <span class=\"_ _23\"></span>variazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un'attivit\u00e0 <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>attribuibile <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>un particolare <span class=\"_ _2c\"> </span>rischio<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>pu\u00f2 <span class=\"_ _2c\"> </span>in<span class=\"_ _0\"></span>fluire <span class=\"_ _2d\"> </span>sul <span class=\"_ _2c\"></span>conto <span class=\"_ _2d\"> </span>economico, <span class=\"_ _2c\"></span>l'utile <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"></span>la <span class=\"_ _2d\"> </span>perdita <span class=\"_ _2c\"></span>derivanti <span class=\"_ _2d\"> </span>dalle successive <span class=\"_ _2f\"> </span>variazioni <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span><span class=\"ff5a\">fair <span class=\"_ _41\"> </span>value</span> <span class=\"_ _2f\"> </span>dello <span class=\"_ _41\"> </span>strumento <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>copertura <span class=\"_ _41\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>con<span class=\"_ _0\"></span>to economico. <span class=\"_ _28\"></span>L'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>elemento <span class=\"_ _28\"></span>coperto, <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _28\"></span>attribuibile <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>cop<span class=\"_ _0\"></span>erto, modificano il valore contabile di tale elemento e <span class=\"_ _0\"></span>sono rilevati a conto<span class=\"_ _0\"></span> economico; \u25aa <span class=\"_ _30\"> </span>Cash <span class=\"_ _2d\"> </span>flow <span class=\"_ _2a\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _2d\"> </span>se <span class=\"_ _2a\"> </span>uno <span class=\"_ _2d\"> </span>strumento <span class=\"_ _2a\"> </span>finanziario <span class=\"_ _2d\"> </span>derivato <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>designato <span class=\"_ _2d\"> </span>come <span class=\"_ _2a\"> </span>copertura <span class=\"_ _2d\"> </span>delle </span>variazioni <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _23\"></span>futuri <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un'attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>un'o<span class=\"_ _0\"></span>perazione <span class=\"_ _23\"></span>attesa altamente probabile e che potrebbe produrre effetti sul conto economico, la parte eff<span class=\"_ _0\"></span>icace degli utili <span class=\"_\"> </span>o <span class=\"_\"> </span>delle <span class=\"_\"> </span>perdite <span class=\"_\"> </span>dello <span class=\"_\"> </span>strumento <span class=\"_\"> </span>finanziario <span class=\"_\"> </span>(variazione <span class=\"_\"> </span>del <span class=\"_ _8b\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span>) <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>rilevata <span class=\"_\"> </span>nel patrimonio <span class=\"_ _3c\"> </span>netto. <span class=\"_ _3c\"> </span>L'utile <span class=\"_ _41\"> </span>o <span class=\"_ _3c\"> </span>la <span class=\"_ _3c\"> </span>perdita <span class=\"_ _3c\"> </span>accumulati <span class=\"_ _3c\"> </span>sono <span class=\"_ _3c\"> </span>stornati <span class=\"_ _3c\"> </span>dal <span class=\"_ _41\"> </span>patri<span class=\"_ _0\"></span>monio <span class=\"_ _3c\"> </span>netto <span class=\"_ _3c\"> </span>e contabilizzati a conto <span class=\"_ _0\"></span>economico nello s<span class=\"_ _0\"></span>tesso periodo in<span class=\"_ _0\"></span> cui si <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>verificata l'operazion<span class=\"_ _0\"></span>e oggetto di copertura. La <span class=\"_ _23\"></span>relazione <span class=\"_ _22\"></span>tra <span class=\"_ _23\"></span>l'elemento <span class=\"_ _23\"></span>coperto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>lo <span class=\"_ _23\"></span>strumento <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _23\"></span>compresi <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>obiettivi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>gestione <span class=\"_ _23\"></span>del rischio <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>strategia <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>intraprendere <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>perazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>documentati <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>pertura.<span class=\"_ _0\"></span> Inoltre, <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>un'operazione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>corso <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>sua <span class=\"_ _23\"></span>durata, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>verifi<span class=\"_ _0\"></span>ca <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>documenta regolarmente <span class=\"_ _23\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>altament<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>efficace <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>termini <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>compensazione <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>variazioni <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> cassa <span class=\"_ _2d\"> </span>dell'elemento <span class=\"_ _2a\"> </span>coperto <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>dell'investimento <span class=\"_ _2d\"> </span>netto. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2d\"> </span>info<span class=\"_ _0\"></span>rmazioni <span class=\"_ _2d\"> </span>sui <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>qu<span class=\"_ _0\"></span>esti <span class=\"_ _2d\"> </span>strumenti<span class=\"_ _0\"></span> finanziari <span class=\"_ _2e\"> </span>derivati <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>fornite <span class=\"_ _2e\"> </span><span class=\"ff5d\">nella <span class=\"_ _2f\"> </span>Sezione <span class=\"_ _2e\"> </span>\u201cAltre <span class=\"_ _2f\"> </span>informazioni\u201d</span>; <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2f\"> </span>della <span class=\"_ _2e\"> </span>riserva <span class=\"_ _2f\"> </span>per <span class=\"_ _2e\"> </span>gli adeguamenti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _28\"></span>all'interno <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>altre <span class=\"_ _28\"></span>componenti <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>economico complessivo possono essere ricavate dal prospetto <span class=\"_ _0\"></span>delle variazioni del patrimonio netto.<span class=\"_ _0\"></span> La <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>efficace <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>variazione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>derivati <span class=\"_ _2d\"> </span>designati <span class=\"_ _2d\"> </span>come copertura <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _28\"></span>investimenti <span class=\"_ _23\"></span>netti <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto; <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>parte <span class=\"_ _23\"></span>inefficace <span class=\"_ _28\"></span>\u00e8 rilevata <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>nel conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Gli importi <span class=\"_ _2b\"></span>rilevati nel <span class=\"_ _2b\"></span>patrimonio netto <span class=\"_ _2b\"></span>sono riclassificati <span class=\"_ _2b\"></span>nell'utile o nella perd<span class=\"_ _0\"></span>ita nel<span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> in <span class=\"_ _0\"></span>cui l'elemento cop<span class=\"_ _0\"></span>erto \u00e8 <span class=\"_ _0\"></span>rilevato nel <span class=\"_ _0\"></span>reddito. Le <span class=\"_ _0\"></span>variazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>degli investimenti netti di copertura sono compensate con le v<span class=\"_ _0\"></span>ariazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> degli strumenti di copertu<span class=\"_ _0\"></span>ra. La <span class=\"_ _28\"></span>contabilizzazione <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura <span class=\"_ _28\"></span>viene <span class=\"_ _23\"></span>interrotta <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>lo <span class=\"_ _28\"></span>strumento<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura scade <span class=\"_ _2b\"></span>o viene <span class=\"_ _2b\"></span>venduto, <span class=\"_ _2b\"></span>terminato o <span class=\"_ _2b\"></span>esercitato, <span class=\"_ _2b\"></span>o non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>pi\u00f9 ritenuto <span class=\"_ _2b\"></span>efficace. <span class=\"_ _2b\"></span>Qualsiasi utile <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>perdita cumulativa differita <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quel <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>rimane <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevata <span class=\"_ _2b\"></span>quando <span class=\"_ _2b\"></span>l'operazione prevista viene infine registrata nel <span class=\"_ _0\"></span>conto economico. Quando<span class=\"_ _0\"></span> non si prevede pi\u00f9 che un'op<span class=\"_ _0\"></span>erazione prevista si verifichi, <span class=\"_ _28\"></span>l'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>cumulativi <span class=\"_ _2c\"></span>differiti <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>vengono <span class=\"_ _28\"></span>immediatamente <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>ne<span class=\"_ _0\"></span>l conto economico. Gli strumenti finanziari <span class=\"_ _2b\"></span>der<span class=\"_ _0\"></span>ivati designati per <span class=\"_ _29\"></span>le operazioni <span class=\"_ _29\"></span>di copertura <span class=\"_ _29\"></span>sono classificati <span class=\"_ _29\"></span>come attivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>correnti <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>durata <span class=\"_ _22\"></span>residua <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>supera <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>dod<span class=\"_ _0\"></span>ici <span class=\"_ _0\"></span>mesi, <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o passivit\u00e0 correnti, o se la durata residua della relazione d<span class=\"_ _0\"></span>i copertura \u00e8 in<span class=\"_ _0\"></span>feriore a dodici mesi.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__53": {
   "value": "Operazioni di copertura Il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>avvale <span class=\"_ _2b\"></span>dell'opzione <span class=\"_ _2b\"></span>prevista <span class=\"_ _29\"></span>dall'IFRS <span class=\"_ _2b\"></span>9 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>contin<span class=\"_ _0\"></span>uare <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>contabilizzazione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>operazioni di copertura in base ai requisiti dello IAS 39.<span class=\"_ _0\"></span>  A <span class=\"_ _22\"></span>seconda <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>volume, <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>strut<span class=\"_ _0\"></span>tura <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>rischio, <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>designa <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>strumenti finanziari derivati come coperture di flussi di cassa o<span class=\"_ _0\"></span> coperture di un investimento netto <span class=\"_ _0\"></span>estero.<span class=\"_ _0\"></span> Quando <span class=\"_ _2d\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2a\"> </span>finanziari <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>caratteristiche <span class=\"_ _2a\"> </span>richieste <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>l'<span class=\"_ _0\"></span><span class=\"ff5a\">hed<span class=\"_ _0\"></span>ge <span class=\"_ _2d\"> </span>accou<span class=\"_ _0\"></span>nting</span>, <span class=\"_ _2d\"> </span>vengo<span class=\"_ _0\"></span>no applicati i seguenti trattamenti contabili:<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>Fair <span class=\"_ _49\"> </span>value <span class=\"_ _49\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _49\"> </span>se <span class=\"_ _49\"> </span>un<span class=\"_ _0\"></span>o <span class=\"_ _49\"> </span>strumento <span class=\"_ _49\"> </span>finanziario <span class=\"_ _46\"> </span>derivato <span class=\"_ _49\"> </span>\u00e8 <span class=\"_ _49\"> </span>designato <span class=\"_ _49\"> </span>come <span class=\"_ _49\"> </span>copertura </span>dell'esposizione <span class=\"_ _23\"></span>alle <span class=\"_ _23\"></span>variazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un'attivit\u00e0 <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>attribuibile <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>un particolare <span class=\"_ _2c\"> </span>rischio<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>pu\u00f2 <span class=\"_ _2c\"> </span>in<span class=\"_ _0\"></span>fluire <span class=\"_ _2d\"> </span>sul <span class=\"_ _2c\"></span>conto <span class=\"_ _2d\"> </span>economico, <span class=\"_ _2c\"></span>l'utile <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"></span>la <span class=\"_ _2d\"> </span>perdita <span class=\"_ _2c\"></span>derivanti <span class=\"_ _2d\"> </span>dalle successive <span class=\"_ _2f\"> </span>variazioni <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span><span class=\"ff5a\">fair <span class=\"_ _41\"> </span>value</span> <span class=\"_ _2f\"> </span>dello <span class=\"_ _41\"> </span>strumento <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>copertura <span class=\"_ _41\"> </span>sono <span class=\"_ _2f\"> </span>rilevati <span class=\"_ _41\"> </span>a <span class=\"_ _2f\"> </span>con<span class=\"_ _0\"></span>to economico. <span class=\"_ _28\"></span>L'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>elemento <span class=\"_ _28\"></span>coperto, <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _28\"></span>attribuibile <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>cop<span class=\"_ _0\"></span>erto, modificano il valore contabile di tale elemento e <span class=\"_ _0\"></span>sono rilevati a conto<span class=\"_ _0\"></span> economico; \u25aa <span class=\"_ _30\"> </span>Cash <span class=\"_ _2d\"> </span>flow <span class=\"_ _2a\"> </span>hedge<span class=\"ff56\">: <span class=\"_ _2d\"> </span>se <span class=\"_ _2a\"> </span>uno <span class=\"_ _2d\"> </span>strumento <span class=\"_ _2a\"> </span>finanziario <span class=\"_ _2d\"> </span>derivato <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>designato <span class=\"_ _2d\"> </span>come <span class=\"_ _2a\"> </span>copertura <span class=\"_ _2d\"> </span>delle </span>variazioni <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _23\"></span>futuri <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un'attivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>un'o<span class=\"_ _0\"></span>perazione <span class=\"_ _23\"></span>attesa altamente probabile e che potrebbe produrre effetti sul conto economico, la parte eff<span class=\"_ _0\"></span>icace degli utili <span class=\"_\"> </span>o <span class=\"_\"> </span>delle <span class=\"_\"> </span>perdite <span class=\"_\"> </span>dello <span class=\"_\"> </span>strumento <span class=\"_\"> </span>finanziario <span class=\"_\"> </span>(variazione <span class=\"_\"> </span>del <span class=\"_ _8b\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span>) <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>rilevata <span class=\"_\"> </span>nel patrimonio <span class=\"_ _3c\"> </span>netto. <span class=\"_ _3c\"> </span>L'utile <span class=\"_ _41\"> </span>o <span class=\"_ _3c\"> </span>la <span class=\"_ _3c\"> </span>perdita <span class=\"_ _3c\"> </span>accumulati <span class=\"_ _3c\"> </span>sono <span class=\"_ _3c\"> </span>stornati <span class=\"_ _3c\"> </span>dal <span class=\"_ _41\"> </span>patri<span class=\"_ _0\"></span>monio <span class=\"_ _3c\"> </span>netto <span class=\"_ _3c\"> </span>e contabilizzati a conto <span class=\"_ _0\"></span>economico nello s<span class=\"_ _0\"></span>tesso periodo in<span class=\"_ _0\"></span> cui si <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>verificata l'operazion<span class=\"_ _0\"></span>e oggetto di copertura. La <span class=\"_ _23\"></span>relazione <span class=\"_ _22\"></span>tra <span class=\"_ _23\"></span>l'elemento <span class=\"_ _23\"></span>coperto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>lo <span class=\"_ _23\"></span>strumento <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _23\"></span>compresi <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>obiettivi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>gestione <span class=\"_ _23\"></span>del rischio <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>la <span class=\"_ _0\"></span>strategia <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>intraprendere <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>perazione <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>copertura, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>documentati <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>co<span class=\"_ _0\"></span>pertura.<span class=\"_ _0\"></span> Inoltre, <span class=\"_ _23\"></span>all'inizio <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>un'operazione <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>corso <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>sua <span class=\"_ _23\"></span>durata, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>verifi<span class=\"_ _0\"></span>ca <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>documenta regolarmente <span class=\"_ _23\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>altament<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>efficace <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>termini <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>compensazione <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>variazioni <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> cassa <span class=\"_ _2d\"> </span>dell'elemento <span class=\"_ _2a\"> </span>coperto <span class=\"_ _2d\"> </span>o <span class=\"_ _2a\"> </span>dell'investimento <span class=\"_ _2d\"> </span>netto. <span class=\"_ _2d\"> </span>Le <span class=\"_ _2d\"> </span>info<span class=\"_ _0\"></span>rmazioni <span class=\"_ _2d\"> </span>sui <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>qu<span class=\"_ _0\"></span>esti <span class=\"_ _2d\"> </span>strumenti<span class=\"_ _0\"></span> finanziari <span class=\"_ _2e\"> </span>derivati <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>fornite <span class=\"_ _2e\"> </span><span class=\"ff5d\">nella <span class=\"_ _2f\"> </span>Sezione <span class=\"_ _2e\"> </span>\u201cAltre <span class=\"_ _2f\"> </span>informazioni\u201d</span>; <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2f\"> </span>della <span class=\"_ _2e\"> </span>riserva <span class=\"_ _2f\"> </span>per <span class=\"_ _2e\"> </span>gli adeguamenti <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fa<span class=\"_ _0\"></span>ir <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _28\"></span>all'interno <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>altre <span class=\"_ _28\"></span>componenti <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>economico complessivo possono essere ricavate dal prospetto <span class=\"_ _0\"></span>delle variazioni del patrimonio netto.<span class=\"_ _0\"></span> La <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>efficace <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>variazione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>derivati <span class=\"_ _2d\"> </span>designati <span class=\"_ _2d\"> </span>come copertura <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>flussi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _28\"></span>investimenti <span class=\"_ _23\"></span>netti <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>rilevata <span class=\"_ _23\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto; <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>parte <span class=\"_ _23\"></span>inefficace <span class=\"_ _28\"></span>\u00e8 rilevata <span class=\"_ _29\"></span>direttamente <span class=\"_ _2b\"></span>nel conto <span class=\"_ _29\"></span>economico. <span class=\"_ _2b\"></span>Gli importi <span class=\"_ _2b\"></span>rilevati nel <span class=\"_ _2b\"></span>patrimonio netto <span class=\"_ _2b\"></span>sono riclassificati <span class=\"_ _2b\"></span>nell'utile o nella perd<span class=\"_ _0\"></span>ita nel<span class=\"ff5d\">l\u2019esercizio<span class=\"_ _0\"></span></span> in <span class=\"_ _0\"></span>cui l'elemento cop<span class=\"_ _0\"></span>erto \u00e8 <span class=\"_ _0\"></span>rilevato nel <span class=\"_ _0\"></span>reddito. Le <span class=\"_ _0\"></span>variazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>degli investimenti netti di copertura sono compensate con le v<span class=\"_ _0\"></span>ariazioni del <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> degli strumenti di copertu<span class=\"_ _0\"></span>ra. La <span class=\"_ _28\"></span>contabilizzazione <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura <span class=\"_ _28\"></span>viene <span class=\"_ _23\"></span>interrotta <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>lo <span class=\"_ _28\"></span>strumento<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>copertura scade <span class=\"_ _2b\"></span>o viene <span class=\"_ _2b\"></span>venduto, <span class=\"_ _2b\"></span>terminato o <span class=\"_ _2b\"></span>esercitato, <span class=\"_ _2b\"></span>o non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>pi\u00f9 ritenuto <span class=\"_ _2b\"></span>efficace. <span class=\"_ _2b\"></span>Qualsiasi utile <span class=\"_ _2b\"></span>o <span class=\"_ _2b\"></span>perdita cumulativa differita <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quel <span class=\"_ _2b\"></span>momento <span class=\"_ _2b\"></span>rimane <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>patrimonio <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevata <span class=\"_ _2b\"></span>quando <span class=\"_ _2b\"></span>l'operazione prevista viene infine registrata nel <span class=\"_ _0\"></span>conto economico. Quando<span class=\"_ _0\"></span> non si prevede pi\u00f9 che un'op<span class=\"_ _0\"></span>erazione prevista si verifichi, <span class=\"_ _28\"></span>l'utile <span class=\"_ _28\"></span>o <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>perdita <span class=\"_ _28\"></span>cumulativi <span class=\"_ _2c\"></span>differiti <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>patrimonio <span class=\"_ _28\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>vengono <span class=\"_ _28\"></span>immediatamente <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>ne<span class=\"_ _0\"></span>l conto economico. Gli strumenti finanziari <span class=\"_ _2b\"></span>der<span class=\"_ _0\"></span>ivati designati per <span class=\"_ _29\"></span>le operazioni <span class=\"_ _29\"></span>di copertura <span class=\"_ _29\"></span>sono classificati <span class=\"_ _29\"></span>come attivit\u00e0 o passivit\u00e0 <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>correnti <span class=\"_ _0\"></span>se <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>durata <span class=\"_ _22\"></span>residua <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>relazione <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>copertura <span class=\"_ _0\"></span>supera <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>dod<span class=\"_ _0\"></span>ici <span class=\"_ _0\"></span>mesi, <span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o passivit\u00e0 correnti, o se la durata residua della relazione d<span class=\"_ _0\"></span>i copertura \u00e8 in<span class=\"_ _0\"></span>feriore a dodici mesi.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__54": {
   "value": "2.7.7.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Rimanenze  </span></span>Le <span class=\"_ _23\"></span>rimanenze <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>iscritte <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>minore <span class=\"_ _23\"></span>tra <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisto <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>produzione, <span class=\"_ _23\"></span>determinato <span class=\"_ _23\"></span>secondo <span class=\"_ _23\"></span>il metodo del costo medio ponderato, ed il valore d<span class=\"_ _0\"></span>i presunto realizzo.<span class=\"_ _0\"></span> Le \u201cRimanenze\u201d <span class=\"_ _0\"></span>sono valutate <span class=\"_ _0\"></span>al minore<span class=\"_ _0\"></span> tra <span class=\"_ _0\"></span><span class=\"ff56\">il <span class=\"_ _0\"></span>costo secondo<span class=\"_ _0\"></span> il <span class=\"_ _0\"></span>principio \"<span class=\"_ _0\"></span><span class=\"ff5a\">First in <span class=\"_ _0\"></span>First out<span class=\"_ _0\"></span></span>\" (FiFo) <span class=\"_ _0\"></span>e il </span>valore netto<span class=\"_ _0\"></span> di <span class=\"_ _0\"></span>realizzo. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>netto <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>realizzo <span class=\"_ _0\"></span>\u00e8 il <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>vendita <span class=\"_ _0\"></span>stimato, <span class=\"_ _0\"></span>ovvero <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>quanto <span class=\"_ _0\"></span>riguarda <span class=\"_ _0\"></span>i prodotti <span class=\"_\"> </span>in <span class=\"_ _2a\"> </span>ram<span class=\"_ _29\"></span>e <span class=\"_\"> </span>il <span class=\"_ _2a\"> </span>prezzo <span class=\"_ _2a\"> </span>ufficiale <span class=\"_\"> </span>registrato <span class=\"_ _2a\"> </span>sul <span class=\"_ _2a\"> </span>mercato <span class=\"_ _2a\"> </span>LME <span class=\"_ _2a\"> </span>(<span class=\"ff5a\">London <span class=\"_\"> </span>Metal <span class=\"_ _2a\"> </span>Exchange</span>) <span class=\"_\"> </span>alla <span class=\"_ _2a\"> </span>data <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span> riferimento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>bilancio, <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>netto <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>costi <span class=\"_ _28\"></span>stimati <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>completamen<span class=\"_ _0\"></span>to <span class=\"_ _28\"></span>nonch\u00e9 <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>quelli <span class=\"_ _28\"></span>stimati <span class=\"_ _28\"></span>necessari <span class=\"_ _28\"></span>per realizzare la <span class=\"_ _29\"></span>vendita. Oltre <span class=\"_ _29\"></span>ai costi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>rettamente attribuibili sono <span class=\"_ _29\"></span>riflessi <span class=\"_ _29\"></span>nei costi <span class=\"_ _29\"></span>di produzione <span class=\"_ _29\"></span>i <span class=\"_ _29\"></span>costi generali di <span class=\"_ _23\"></span>produzione, <span class=\"_ _23\"></span>compresi <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>ammorta<span class=\"_ _0\"></span>menti <span class=\"_ _23\"></span>legati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>oduzione; <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>generalmente <span class=\"_ _23\"></span>assegnati <span class=\"_ _23\"></span>sulla base <span class=\"_ _28\"></span>del <span class=\"_ _2c\"> </span>met<span class=\"_ _0\"></span>odo <span class=\"_ _2c\"></span>della <span class=\"_ _2c\"></span>media <span class=\"_ _2c\"></span>mobile <span class=\"_ _2c\"></span>mensile; <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>alcuni <span class=\"_ _2c\"></span>casi <span class=\"_ _28\"></span>viene <span class=\"_ _2c\"></span>applicato <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>metodo <span class=\"_ _2c\"> </span>dell'identificazion<span class=\"_ _0\"></span>e specifica.  I lavori in <span class=\"_ _29\"></span>corso su <span class=\"_ _29\"></span>ordinazione sono valutati in <span class=\"_ _29\"></span>base allo stato <span class=\"_ _29\"></span>di avanzamento <span class=\"_ _29\"></span>dei lavori e <span class=\"_ _29\"></span>al prezzo <span class=\"_ _29\"></span>del corrispettivo contrattuale al netto dei costi contrattuali.<span class=\"_ _0\"></span> Le forniture e i materiali di consumo sono <span class=\"_ _0\"></span>valutati al costo medio ponderato.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__56": {
   "value": "2.7.8.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Crediti e debiti </span></span>I <span class=\"_ _22\"></span>crediti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>debiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>normalmente <span class=\"_ _22\"></span>coincide <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>nominale <span class=\"_ _22\"></span>quando l\u2019effetto dell\u2019attualizzazione risulta irrilevante.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>I crediti commerciali sono rilevati inizialmente quan<span class=\"_ _0\"></span>do vengono originati. <span class=\"_ _0\"></span> Un credito <span class=\"_ _2b\"></span>commercial<span class=\"_ _0\"></span>e senza <span class=\"_ _2b\"></span>una significativa componente di <span class=\"_ _2b\"></span>fin<span class=\"_ _0\"></span>anziamento <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>inizialmente valutato <span class=\"_ _29\"></span>al prezzo della transazione.  Gli <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>perdite <span class=\"_ _23\"></span>su <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>sempre <span class=\"_ _28\"></span>valutati <span class=\"_ _23\"></span>per <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>impo<span class=\"_ _0\"></span>rto <span class=\"_ _23\"></span>pari <span class=\"_ _28\"></span>alle perdite di valore a vita sulla base dell'approccio semp<span class=\"_ _0\"></span>lificato secondo l'IFRS 9<span class=\"_ _0\"></span>. Eventuali <span class=\"_ _0\"></span>cessioni <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span>propri <span class=\"_ _0\"></span>crediti <span class=\"_ _0\"></span>commerciali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>factoring <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _0\"></span>essere <span class=\"_ _0\"></span>prosolu<span class=\"_ _0\"></span>to <span class=\"_ _0\"></span>o prosolvendo. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>og<span class=\"_ _0\"></span>getto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>cessione <span class=\"_ _28\"></span>pro <span class=\"_ _23\"></span>soluto <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>cancellati <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>bilancio, <span class=\"_ _23\"></span>poich\u00e9 <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>stati trasferiti <span class=\"_ _29\"></span>sostanzialmente tutti <span class=\"_ _2b\"></span>i rischi <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>i benefici <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>propriet\u00e0. <span class=\"_ _29\"></span>Le <span class=\"_ _29\"></span>spese <span class=\"_ _2b\"></span>di factoring per <span class=\"_ _2b\"></span>le cessioni <span class=\"_ _2b\"></span>di crediti pro <span class=\"_ _2b\"></span>soluto <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>riportate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _2b\"></span>\"Altri <span class=\"_ _29\"></span>costi <span class=\"_ _2b\"></span>operativi\". <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>ceduti <span class=\"_ _29\"></span>pro <span class=\"_ _2b\"></span>solvendo, <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>Gruppo <span class=\"_ _2b\"></span>mantiene sostanzialmente tutti<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>rischi e <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>benefici <span class=\"_ _2b\"></span>della propriet\u00e0. <span class=\"_ _2b\"></span>Questi crediti <span class=\"_ _2b\"></span>rimangono nella <span class=\"_ _2b\"></span>situazione patrimoniale del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>vengono <span class=\"_ _22\"></span>cancellati, <span class=\"_ _23\"></span>anche <span class=\"_ _22\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>passata <span class=\"_ _22\"></span>legal<span class=\"_ _0\"></span>mente. <span class=\"_ _23\"></span>Viene <span class=\"_ _22\"></span>inoltre <span class=\"_ _23\"></span>rilevata <span class=\"_ _22\"></span>u<span class=\"_ _0\"></span>na passivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>pari <span class=\"_ _22\"></span>importo. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>factoring <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>ceduti <span class=\"_ _0\"></span>pro <span class=\"_ _22\"></span>solven<span class=\"_ _22\"></span>do <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>riportate <span class=\"_ _0\"></span>tra gli oneri finanziari.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__55": {
   "value": "2.7.8.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Crediti e debiti </span></span>I <span class=\"_ _22\"></span>crediti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>debiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>normalmente <span class=\"_ _22\"></span>coincide <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>nominale <span class=\"_ _22\"></span>quando l\u2019effetto dell\u2019attualizzazione risulta irrilevante.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>I crediti commerciali sono rilevati inizialmente quan<span class=\"_ _0\"></span>do vengono originati. <span class=\"_ _0\"></span> Un credito <span class=\"_ _2b\"></span>commercial<span class=\"_ _0\"></span>e senza <span class=\"_ _2b\"></span>una significativa componente di <span class=\"_ _2b\"></span>fin<span class=\"_ _0\"></span>anziamento <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>inizialmente valutato <span class=\"_ _29\"></span>al prezzo della transazione.  Gli <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>perdite <span class=\"_ _23\"></span>su <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>sempre <span class=\"_ _28\"></span>valutati <span class=\"_ _23\"></span>per <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>impo<span class=\"_ _0\"></span>rto <span class=\"_ _23\"></span>pari <span class=\"_ _28\"></span>alle perdite di valore a vita sulla base dell'approccio semp<span class=\"_ _0\"></span>lificato secondo l'IFRS 9<span class=\"_ _0\"></span>. Eventuali <span class=\"_ _0\"></span>cessioni <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span>propri <span class=\"_ _0\"></span>crediti <span class=\"_ _0\"></span>commerciali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>factoring <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssono <span class=\"_ _0\"></span>essere <span class=\"_ _0\"></span>prosolu<span class=\"_ _0\"></span>to <span class=\"_ _0\"></span>o prosolvendo. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>og<span class=\"_ _0\"></span>getto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>una <span class=\"_ _23\"></span>cessione <span class=\"_ _28\"></span>pro <span class=\"_ _23\"></span>soluto <span class=\"_ _23\"></span>vengono <span class=\"_ _23\"></span>cancellati <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>bilancio, <span class=\"_ _23\"></span>poich\u00e9 <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>stati trasferiti <span class=\"_ _29\"></span>sostanzialmente tutti <span class=\"_ _2b\"></span>i rischi <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>i benefici <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>propriet\u00e0. <span class=\"_ _29\"></span>Le <span class=\"_ _29\"></span>spese <span class=\"_ _2b\"></span>di factoring per <span class=\"_ _2b\"></span>le cessioni <span class=\"_ _2b\"></span>di crediti pro <span class=\"_ _2b\"></span>soluto <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>riportate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _2b\"></span>\"Altri <span class=\"_ _29\"></span>costi <span class=\"_ _2b\"></span>operativi\". <span class=\"_ _2b\"></span>Per <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>ceduti <span class=\"_ _29\"></span>pro <span class=\"_ _2b\"></span>solvendo, <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>Gruppo <span class=\"_ _2b\"></span>mantiene sostanzialmente tutti<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>rischi e <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>benefici <span class=\"_ _2b\"></span>della propriet\u00e0. <span class=\"_ _2b\"></span>Questi crediti <span class=\"_ _2b\"></span>rimangono nella <span class=\"_ _2b\"></span>situazione patrimoniale del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>vengono <span class=\"_ _22\"></span>cancellati, <span class=\"_ _23\"></span>anche <span class=\"_ _22\"></span>se <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>propriet\u00e0 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>passata <span class=\"_ _22\"></span>legal<span class=\"_ _0\"></span>mente. <span class=\"_ _23\"></span>Viene <span class=\"_ _22\"></span>inoltre <span class=\"_ _23\"></span>rilevata <span class=\"_ _22\"></span>u<span class=\"_ _0\"></span>na passivit\u00e0 <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>pari <span class=\"_ _22\"></span>importo. <span class=\"_ _0\"></span>Le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>factoring <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>ceduti <span class=\"_ _0\"></span>pro <span class=\"_ _22\"></span>solven<span class=\"_ _22\"></span>do <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>riportate <span class=\"_ _0\"></span>tra gli oneri finanziari.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__58": {
   "value": "2.7.9.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Disponibilit\u00e0 liquide e mezzi equivalenti<span class=\"_ _0\"></span> </span></span>Comprendono <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>depositi <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>vista <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>investimenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>alta <span class=\"_ _22\"></span>liquidit\u00e0 che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ontamente <span class=\"_ _29\"></span>convertibili <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammontare <span class=\"_ _2b\"></span>noto di <span class=\"_ _2b\"></span>denaro<span class=\"_ _0\"></span> e <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>soggetti ad <span class=\"_ _2b\"></span>un rischio <span class=\"_ _2b\"></span>irrilevante di variazione di valore (IAS 7 paragrafo <span class=\"_ _0\"></span>7).",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__57": {
   "value": "2.7.9.<span class=\"ff5f\"> <span class=\"_ _ab\"></span><span class=\"ff5c\">Disponibilit\u00e0 liquide e mezzi equivalenti<span class=\"_ _0\"></span> </span></span>Comprendono <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>cassa, <span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>depositi <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>vista <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>investimenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>alta <span class=\"_ _22\"></span>liquidit\u00e0 che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>ontamente <span class=\"_ _29\"></span>convertibili <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammontare <span class=\"_ _2b\"></span>noto di <span class=\"_ _2b\"></span>denaro<span class=\"_ _0\"></span> e <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>soggetti ad <span class=\"_ _2b\"></span>un rischio <span class=\"_ _2b\"></span>irrilevante di variazione di valore (IAS 7 paragrafo <span class=\"_ _0\"></span>7).",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__59": {
   "value": "2.7.10.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Attivit\u00e0 e Passivit\u00e0 possedute p<span class=\"_ _0\"></span>er la vendita e attivit\u00e0 operative cessate (IFRS 5)<span class=\"_ _0\"></span> Le <span class=\"_ _23\"></span>Attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>Passivit\u00e0 <span class=\"_ _23\"></span>destin<span class=\"_ _0\"></span>ate <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>ven<span class=\"_ _0\"></span>dita <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>Attivit\u00e0 <span class=\"_ _23\"></span>operative <span class=\"_ _23\"></span>cessate <span class=\"_ _23\"></span>(<span class=\"ff5a\">Discontinued <span class=\"_ _23\"></span>Operation</span>) sono <span class=\"_ _2c\"></span>classificate <span class=\"_ _28\"></span>come <span class=\"_ _2c\"></span>tali <span class=\"_ _2c\"></span>se <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>loro<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>va<span class=\"_ _0\"></span>lore <span class=\"_ _28\"></span>con<span class=\"_ _0\"></span>tabile <span class=\"_ _28\"></span>sar\u00e0 <span class=\"_ _2c\"></span>recuperato <span class=\"_ _2c\"></span>principalmente <span class=\"_ _2c\"></span>attraverso <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>vendita piuttosto che attraverso l\u2019utilizzo continuativo.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Le attivit\u00e0 non <span class=\"_ _29\"></span>correnti o i <span class=\"_ _29\"></span>gruppi di tali <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 che vengono dismessi in <span class=\"_ _29\"></span>un'unica operazione (gruppi <span class=\"_ _29\"></span>in dismissione), comprese le passivit\u00e0 associate, sono classificate come possedute per la v<span class=\"_ _0\"></span>endita se il loro valore contabile <span class=\"_ _2c\"></span>sar\u00e0 <span class=\"_ _2c\"> </span>recuperato <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2c\"></span>attraverso <span class=\"_ _2c\"></span>un'operazione <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>vendita <span class=\"_ _2c\"> </span>piutto<span class=\"_ _0\"></span>sto <span class=\"_ _2c\"></span>che <span class=\"_ _2c\"></span>attravers<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>l'uso continuativo. Questa condizione \u00e8 soddisfatta solo quando <span class=\"_ _0\"></span>la dismissione \u00e8 altamente probabile e l'attivit\u00e0 o il gruppo in dismissione \u00e8 disponibile per la vendita immediata nelle<span class=\"_ _0\"></span> sue condizioni attuali.<span class=\"_ _0\"></span> L\u2019operazione di<span class=\"_ _0\"></span> vendi<span class=\"_ _0\"></span>ta deve <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>altamente probabile, <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>realizzazione <span class=\"_ _0\"></span>prevista <span class=\"_ _0\"></span>all\u2019interno <span class=\"_ _0\"></span>dei dodici <span class=\"_ _22\"></span>mesi. <span class=\"_ _22\"></span>Se <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>vendita <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>prevista <span class=\"_ _22\"></span>concludersi <span class=\"_ _22\"></span>dopo <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>anno, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>valutati <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendita <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>loro valore attuale<span class=\"_ _0\"></span>. Qualsiasi <span class=\"_ _0\"></span>increment<span class=\"_ _0\"></span>o nel <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di ven<span class=\"_ _0\"></span>dita<span class=\"_ _0\"></span> deriv<span class=\"_ _0\"></span>ante dal <span class=\"_ _0\"></span>trascorrere <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>tempo \u00e8 rilevata come componente finanziaria nel con<span class=\"_ _0\"></span>to economico.  Le attivit\u00e0 e le passivit\u00e0 del gruppo in dismissione sono esposte separatamente nello stato patrimoniale nelle <span class=\"_ _2b\"></span>voci <span class=\"ff5d\">\u201cAttivit\u00e0 <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>correnti <span class=\"_ _29\"></span>detenute <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>la vendita\u201d <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>\u201cPassivit\u00e0 direttamente <span class=\"_ _2b\"></span>collegate <span class=\"_ _2b\"></span>ad <span class=\"_ _29\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>detenute </span>per la vendita\u201d<span class=\"ff56\">. </span>In <span class=\"_ _29\"></span>caso <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>acquisizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>societ\u00e0 <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>trollate <span class=\"_ _29\"></span>con <span class=\"_ _29\"></span>l'unica <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span>tenzione di <span class=\"_ _2b\"></span>rivenderle, le <span class=\"_ _2b\"></span>attivit\u00e0 e <span class=\"_ _2b\"></span>le passivit\u00e0 sono <span class=\"_ _2a\"> </span>state <span class=\"_ _2a\"> </span>pertanto <span class=\"_ _2d\"> </span>indi<span class=\"_ _0\"></span>cate <span class=\"_ _2a\"> </span>come <span class=\"_ _2d\"> </span>detenute <span class=\"_\"> </span>per <span class=\"_ _2d\"> </span>la <span class=\"_\"> </span>vendita <span class=\"_ _2d\"> </span>nello <span class=\"_\"> </span>stato <span class=\"_ _2a\"> </span>patrimoniale <span class=\"_ _2d\"> </span>con<span class=\"_ _0\"></span>solidato. <span class=\"_ _2a\"> </span>Il <span class=\"_ _2a\"> </span>conto economico \u00e8 riepilogato nel risultato delle attivit\u00e0 operative cessate <span class=\"_ _0\"></span>del conto economico consolidato.<span class=\"_ _0\"></span> Le riclassificazioni delle attivit\u00e0 immateriali e degli immobili, impianti e macchinari sono riportate alla voc<span class=\"ls0\">e <span class=\"_ _28\"></span>trasferimenti <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>ris<span class=\"_ _0\"></span>pettivo <span class=\"_ _28\"></span>sviluppo <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _2c\"></span>Gruppo. <span class=\"_ _28\"></span>Le <span class=\"_ _2c\"></span>spese <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>ven<span class=\"_ _0\"></span>dite <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>in </span>dismissione <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>incluse <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>risultato <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>esercizio <span class=\"_ _23\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>momento <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>vendita. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>gruppo <span class=\"_ _23\"></span>in dismissione comprende anche <span class=\"_ _2b\"></span>l'avv<span class=\"_ _0\"></span>iamento acquisito in <span class=\"_ _29\"></span>un'aggregazione aziendale <span class=\"_ _29\"></span>se il <span class=\"_ _2b\"></span>grup<span class=\"_ _0\"></span>po in <span class=\"_ _29\"></span>dismissione rappresenta <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span>'unit\u00e0 <span class=\"_ _23\"></span>gen<span class=\"_ _0\"></span>eratrice <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>l'avviamento <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _28\"></span>allocato <span class=\"_ _23\"></span>ad <span class=\"_ _28\"></span>essa. <span class=\"_ _28\"></span>Se <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>in dismissione <span class=\"_\"> </span>rappresenta <span class=\"_\"> </span>solo <span class=\"_ _2a\"> </span>una <span class=\"_\"> </span>parte <span class=\"_ _2a\"> </span>dell'unit\u00e0 <span class=\"_\"> </span>generatrice <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>flussi <span class=\"_\"> </span>finanziari, <span class=\"_\"> </span>gli <span class=\"_\"> </span>viene <span class=\"_\"> </span>attribuito <span class=\"_ _2a\"> </span>un avviamento proporzionale e viene registrato come \"Attiv<span class=\"_ _0\"></span>it\u00e0 destinate alla vendita\".<span class=\"_ _0\"></span> Gli <span class=\"_ _2c\"></span>ammortamenti <span class=\"_ _2c\"></span>programmati <span class=\"_ _2c\"></span>non <span class=\"_ _2c\"></span>vengono <span class=\"_ _2c\"></span>pi\u00f9 <span class=\"_ _2c\"></span>rilevati <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>destinate <span class=\"_ _2c\"></span>alla <span class=\"_ _2c\"></span>vendita. <span class=\"_ _2c\"></span>Esse vengono iscritte al minore tra il valore c<span class=\"_ _0\"></span>ontabile e il fair value al netto dei <span class=\"_ _0\"></span>costi di vendita.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__60": {
   "value": "2.7.11.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Patrimonio netto Il <span class=\"_ _29\"></span>capitale <span class=\"_ _29\"></span>sociale <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>costituito da <span class=\"_ _2b\"></span>azioni ordinarie <span class=\"_ _2b\"></span>e da <span class=\"_ _2b\"></span>azion<span class=\"_ _0\"></span>i <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>risparmio, <span class=\"_ _29\"></span>tutte <span class=\"_ _29\"></span>prive <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>valore <span class=\"_ _29\"></span>nominale, sottoscritte e versate alla data di riferimento del presente bilancio, ridotto eventualmente dei crediti verso soci per decimi ancora da versare. <span class=\"_ _0\"></span> Gli altri <span class=\"_ _0\"></span>utili <span class=\"ff5d\">o <span class=\"_ _0\"></span>perdite <span class=\"_ _0\"></span>iscritti a <span class=\"_ _0\"></span>conto econo<span class=\"_ _0\"></span>mico complessivo <span class=\"_ _0\"></span>(\u201cOCI\u201d)</span> <span class=\"_ _0\"></span>comprendon<span class=\"_ _0\"></span>o gli <span class=\"_ _0\"></span>aggiustamenti di conversione <span class=\"_ _0\"></span>delle valute<span class=\"_ _0\"></span> estere <span class=\"_ _0\"></span>derivanti dalla <span class=\"_ _0\"></span>conversione <span class=\"_ _0\"></span>dei bi<span class=\"_ _0\"></span>lanci del<span class=\"_ _22\"></span>le controllate <span class=\"_ _0\"></span>estere, le <span class=\"_ _0\"></span>variazioni<span class=\"_ _0\"></span> del <span class=\"_\"> </span><span class=\"ff5a\">fair <span class=\"_\"> </span>value</span> <span class=\"_\"> </span>delle <span class=\"_\"> </span>coperture <span class=\"_ _2a\"> </span>dei <span class=\"_\"> </span>flussi <span class=\"_\"> </span>di <span class=\"_\"> </span>cassa <span class=\"_\"> </span>e <span class=\"_ _2a\"> </span>la <span class=\"_\"> </span>rivalutazione <span class=\"_\"> </span>delle <span class=\"_ _2a\"> </span>immobilizzazioni <span class=\"_\"> </span>prima <span class=\"_\"> </span>della riclassificazione <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>investimento <span class=\"_ _2d\"> </span>immobiliare. <span class=\"_ _2d\"> </span>Sono <span class=\"_ _2d\"> </span>inoltre <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>ncluse <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"> </span>ut<span class=\"_ _0\"></span>ili <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>perdite attuariali degli impegni pensionistici secon<span class=\"_ _0\"></span>do lo IAS 19, al netto delle imposte differite.<span class=\"_ _0\"></span> Le partecipazioni di minoranza rappresentano gli interessi di terzi nelle co<span class=\"_ _0\"></span>ntrollate consolidate.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__61": {
   "value": "2.7.11.1.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Azioni proprie (IAS 32) </span></span>Il <span class=\"_ _2c\"></span>valore <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2c\"></span>proprie, <span class=\"_ _2c\"> </span>secondo<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>quanto<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>evisto <span class=\"_ _2c\"></span>dallo <span class=\"_ _2c\"> </span>IAS <span class=\"_ _2d\"> </span>32, <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2c\"></span>esposto <span class=\"_ _2d\"> </span>in <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span>minuzione <span class=\"_ _2c\"></span>del capitale <span class=\"_ _22\"></span>emesso. <span class=\"_ _22\"></span>Tale <span class=\"_ _22\"></span>rappresentazione <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>per\u00f2 <span class=\"_ _22\"></span>unicamente <span class=\"_ _22\"></span>n<span class=\"_ _0\"></span>elle <span class=\"_ _22\"></span>note <span class=\"_ _22\"></span>esplicative, <span class=\"_ _22\"></span>mentre <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>ospetti <span class=\"_ _22\"></span>il costo <span class=\"_ _2b\"></span>stori<span class=\"_ _0\"></span>co <span class=\"_ _2b\"></span>delle azioni <span class=\"_ _2b\"></span>proprie <span class=\"_ _2b\"></span>possedute figura <span class=\"_ _2b\"></span>distintamente <span class=\"_ _2b\"></span>con <span class=\"_ _29\"></span>segno <span class=\"_ _2b\"></span>negativo a<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>riduzi<span class=\"_ _0\"></span>one del <span class=\"_ _2b\"></span>patrimonio netto. I costi per operazioni sul patrimonio netto <span class=\"_ _0\"></span>sono imputati direttamente a riduzione delle riserve.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__63": {
   "value": "2.7.11.2.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Accordi di pagamento basati su propri strumenti p<span class=\"_ _0\"></span>atrimoniali (IFRS 2)<span class=\"_ _0\"></span> </span></span>Nell\u2019ambito <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>piani <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>incentivazione <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>medio<span class=\"ff56\">-lung<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>previsti <span class=\"_ _23\"></span>accordi <span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>favore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>parte </span>del <span class=\"_ _2b\"></span>management, con <span class=\"_ _2b\"></span>pagamenti <span class=\"_ _2b\"></span>basati <span class=\"_ _29\"></span>su <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>rappresentative <span class=\"_ _2b\"></span>del capitale, <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>consistono <span class=\"_ _29\"></span>nell\u2019assegnazione di diritti<span class=\"_ _0\"></span> che <span class=\"_ _0\"></span>attribuiscono <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>beneficiari, <span class=\"_ _0\"></span>subordinatamente <span class=\"_ _0\"></span>all\u2019avverarsi <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>stabilite, <span class=\"_ _0\"></span>i<span class=\"_ _0\"></span><span class=\"ff56\">l <span class=\"_ _0\"></span>diritto <span class=\"_ _0\"></span>di </span>ottenere al termine dell\u2019ultimo anno di<span class=\"_ _0\"></span> vesting, l\u2019equivalente monetario o in azioni della Societ\u00e0.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForWarrantsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__62": {
   "value": "2.7.11.2.<span class=\"ff5f\"> <span class=\"_ _c2\"></span><span class=\"ff5c\">Accordi di pagamento basati su propri strumenti p<span class=\"_ _0\"></span>atrimoniali (IFRS 2)<span class=\"_ _0\"></span> </span></span>Nell\u2019ambito <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>piani <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>incentivazione <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>medio<span class=\"ff56\">-lung<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>previsti <span class=\"_ _23\"></span>accordi <span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>favore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>parte </span>del <span class=\"_ _2b\"></span>management, con <span class=\"_ _2b\"></span>pagamenti <span class=\"_ _2b\"></span>basati <span class=\"_ _29\"></span>su <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>rappresentative <span class=\"_ _2b\"></span>del capitale, <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>consistono <span class=\"_ _29\"></span>nell\u2019assegnazione di diritti<span class=\"_ _0\"></span> che <span class=\"_ _0\"></span>attribuiscono <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>beneficiari, <span class=\"_ _0\"></span>subordinatamente <span class=\"_ _0\"></span>all\u2019avverarsi <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>stabilite, <span class=\"_ _0\"></span>i<span class=\"_ _0\"></span><span class=\"ff56\">l <span class=\"_ _0\"></span>diritto <span class=\"_ _0\"></span>di </span>ottenere al termine dell\u2019ultimo anno di<span class=\"_ _0\"></span> vesting, l\u2019equivalente monetario o in azioni della Societ\u00e0.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__65": {
   "value": "2.7.12.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Imposte correnti e differite<span class=\"_ _0\"></span> L'onere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>dell\u2019esercizio <span class=\"_ _22\"></span>comprende <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>nere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>corrente <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>l'onere <span class=\"_ _23\"></span>fiscale <span class=\"_ _22\"></span>differito. <span class=\"_ _23\"></span>Le <span class=\"_ _0\"></span>impo<span class=\"_ _0\"></span>ste sul <span class=\"_ _2e\"> </span>reddito <span class=\"_ _2e\"> </span>sono <span class=\"_ _2e\"> </span>rilevate <span class=\"_ _2e\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _2e\"> </span>economico, <span class=\"_ _2e\"> </span>fatta <span class=\"_ _2e\"> </span>eccezione <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>quelle <span class=\"_ _2e\"> </span>relative <span class=\"_ _2f\"> </span>a <span class=\"_ _8b\"> </span>operazioni <span class=\"_ _2e\"> </span>rilevate direttamente nel patrimonio netto che sono con<span class=\"_ _0\"></span>tabilizzate nello stesso.<span class=\"_ _0\"></span><span class=\"ff57\"> </span>L\u2019onere fiscale corrente rapp<span class=\"_ _0\"></span>resenta la stima dell'importo d<span class=\"_ _0\"></span>elle imposte sul reddito <span class=\"_ _0\"></span>dovu<span class=\"_ _0\"></span><span class=\"ff56\">te calcolate sul </span>reddito <span class=\"_ _22\"></span>imponibile <span class=\"_ _22\"></span>dell\u2019esercizio, <span class=\"_ _23\"></span>determinato <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>aliquote <span class=\"_ _23\"></span>fiscali <span class=\"_ _0\"></span>vigenti <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>quelle <span class=\"_ _22\"></span>sostanzialmente in <span class=\"_ _2f\"> </span>vigore <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>chiusura <span class=\"_ _2f\"> </span>dell\u2019esercizio. <span class=\"_ _2f\"> </span>Le <span class=\"_ _2e\"> </span>impo<span class=\"_ _0\"></span>ste <span class=\"_ _2f\"> </span>differite <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>stanziate <span class=\"_ _2f\"> </span>secondo <span class=\"_ _2f\"> </span>il <span class=\"_ _2f\"> </span>metodo patrimoniale, calcolando le differenze temporanee tra i valori contabili delle <span class=\"_ _29\"></span>attivit\u00e0 e delle pas<span class=\"_ _29\"></span>sivit\u00e0 iscritti in bilancio <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>corrispondenti <span class=\"_ _28\"></span>valori <span class=\"_ _28\"></span>riconosciuti <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _28\"></span>fiscali. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>stanziate <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le seguenti <span class=\"_ _49\"> </span>differenze <span class=\"_ _46\"> </span>temporanee: <span class=\"_ _49\"> </span>rilevazione <span class=\"_ _46\"> </span>iniziale <span class=\"_ _46\"> </span>di <span class=\"_ _49\"> </span>attivit\u00e0 <span class=\"_ _46\"> </span>o <span class=\"_ _49\"> </span>passivit\u00e0 <span class=\"_ _46\"> </span>in <span class=\"_ _49\"> </span>un'operazione <span class=\"_ _46\"> </span>diversa dall'aggregazione aziendale che <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n influenzi <span class=\"_ _29\"></span>n\u00e9 l'utile <span class=\"_ _29\"></span>(o perdita) <span class=\"_ _29\"></span>contabile n\u00e9 <span class=\"_ _29\"></span>il reddito <span class=\"_ _29\"></span>imponibile (o <span class=\"_ _29\"></span>perdita fiscale), <span class=\"_ _23\"></span>nonch\u00e9 <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>differenze <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>investimenti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto <span class=\"_ _23\"></span>nella misura in cui \u00e8 probabile che, nel presumibile fu<span class=\"_ _0\"></span>turo, la differenza temporanea non<span class=\"_ _0\"></span> si riverser\u00e0. <span class=\"_ _0\"></span> Le attivit\u00e0 e le passivit\u00e0 per imposte differite sono valutate utilizzando le aliquote fiscali che si prevede saranno <span class=\"_ _22\"></span>applicabili <span class=\"_ _22\"></span>nell'esercizio <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>sar\u00e0 <span class=\"_ _0\"></span>realizzata<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>l'attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>sar\u00e0 <span class=\"_ _22\"></span>estinta <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>riferiscon<span class=\"_ _0\"></span>o, sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>aliquote <span class=\"_ _22\"></span>fiscali <span class=\"_ _23\"></span>stabilite <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>provvedimenti <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>sostanzialmente <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di chiusura <span class=\"_ _29\"></span>dell\u2019esercizio. <span class=\"_ _29\"></span>Le <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0<span class=\"ff56\"> <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i<span class=\"_ _0\"></span>mposte <span class=\"_ _29\"></span>differite <span class=\"_ _29\"></span>sono <span class=\"_ _29\"></span>compensate <span class=\"_ _2b\"></span>in presenza <span class=\"_ _2b\"></span>di un <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> </span>legalmente es<span class=\"_ _0\"></span>ercitabile di <span class=\"_ _0\"></span>compensare <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti con<span class=\"_ _0\"></span> le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti <span class=\"_ _0\"></span>e se <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 e le <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>per imposte <span class=\"_ _29\"></span>differite sono <span class=\"_ _29\"></span>relative <span class=\"_ _29\"></span>a imposte <span class=\"_ _2b\"></span>sul reddito applicate dalla <span class=\"_ _29\"></span>medesima autorit\u00e0 <span class=\"_ _29\"></span>fiscale sullo stesso soggetto <span class=\"_ _29\"></span>passivo d'imposta o <span class=\"_ _29\"></span>soggetti passivi d'imposta <span class=\"_ _29\"></span>diversi che intendono reg<span class=\"_ _29\"></span>olare le passivit\u00e0 e le attivit\u00e0 fiscali correnti su base netta, o<span class=\"_ _0\"></span> realizzare le attivit\u00e0 e regolare le passivit\u00e0 con<span class=\"_ _0\"></span>tempo<span class=\"_ _0\"></span>raneamente. <span class=\"ff57\"> </span>Le <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>imposte <span class=\"_ _2b\"></span>differite <span class=\"_ _3d\"></span>sono <span class=\"_ _2b\"></span>rilevate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>misura <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>probabile <span class=\"_ _2b\"></span>che <span class=\"_ _3d\"></span>sia <span class=\"_ _2b\"></span>disponibile <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>reddito imponibile <span class=\"_ _28\"></span>futuro <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>fronte <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>stesse <span class=\"_ _28\"></span>possano <span class=\"_ _28\"></span>essere <span class=\"_ _28\"></span>utilizzate. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>imposte<span class=\"_ _0\"></span> differite <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rivisto <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _23\"></span>nella <span class=\"_ _22\"></span>misura <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _23\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>il relativo beneficio fiscale sia realizzabile.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__64": {
   "value": "2.7.12.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Imposte correnti e differite<span class=\"_ _0\"></span> L'onere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>dell\u2019esercizio <span class=\"_ _22\"></span>comprende <span class=\"_ _22\"></span>l'o<span class=\"_ _0\"></span>nere <span class=\"_ _22\"></span>fiscale <span class=\"_ _23\"></span>corrente <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>l'onere <span class=\"_ _23\"></span>fiscale <span class=\"_ _22\"></span>differito. <span class=\"_ _23\"></span>Le <span class=\"_ _0\"></span>impo<span class=\"_ _0\"></span>ste sul <span class=\"_ _2e\"> </span>reddito <span class=\"_ _2e\"> </span>sono <span class=\"_ _2e\"> </span>rilevate <span class=\"_ _2e\"> </span>a <span class=\"_ _2f\"> </span>conto <span class=\"_ _2e\"> </span>economico, <span class=\"_ _2e\"> </span>fatta <span class=\"_ _2e\"> </span>eccezione <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>quelle <span class=\"_ _2e\"> </span>relative <span class=\"_ _2f\"> </span>a <span class=\"_ _8b\"> </span>operazioni <span class=\"_ _2e\"> </span>rilevate direttamente nel patrimonio netto che sono con<span class=\"_ _0\"></span>tabilizzate nello stesso.<span class=\"_ _0\"></span><span class=\"ff57\"> </span>L\u2019onere fiscale corrente rapp<span class=\"_ _0\"></span>resenta la stima dell'importo d<span class=\"_ _0\"></span>elle imposte sul reddito <span class=\"_ _0\"></span>dovu<span class=\"_ _0\"></span><span class=\"ff56\">te calcolate sul </span>reddito <span class=\"_ _22\"></span>imponibile <span class=\"_ _22\"></span>dell\u2019esercizio, <span class=\"_ _23\"></span>determinato <span class=\"_ _22\"></span>applicando <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>aliquote <span class=\"_ _23\"></span>fiscali <span class=\"_ _0\"></span>vigenti <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>quelle <span class=\"_ _22\"></span>sostanzialmente in <span class=\"_ _2f\"> </span>vigore <span class=\"_ _2f\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>chiusura <span class=\"_ _2f\"> </span>dell\u2019esercizio. <span class=\"_ _2f\"> </span>Le <span class=\"_ _2e\"> </span>impo<span class=\"_ _0\"></span>ste <span class=\"_ _2f\"> </span>differite <span class=\"_ _2f\"> </span>sono <span class=\"_ _2f\"> </span>stanziate <span class=\"_ _2f\"> </span>secondo <span class=\"_ _2f\"> </span>il <span class=\"_ _2f\"> </span>metodo patrimoniale, calcolando le differenze temporanee tra i valori contabili delle <span class=\"_ _29\"></span>attivit\u00e0 e delle pas<span class=\"_ _29\"></span>sivit\u00e0 iscritti in bilancio <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>corrispondenti <span class=\"_ _28\"></span>valori <span class=\"_ _28\"></span>riconosciuti <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _28\"></span>fiscali. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>stanziate <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>le seguenti <span class=\"_ _49\"> </span>differenze <span class=\"_ _46\"> </span>temporanee: <span class=\"_ _49\"> </span>rilevazione <span class=\"_ _46\"> </span>iniziale <span class=\"_ _46\"> </span>di <span class=\"_ _49\"> </span>attivit\u00e0 <span class=\"_ _46\"> </span>o <span class=\"_ _49\"> </span>passivit\u00e0 <span class=\"_ _46\"> </span>in <span class=\"_ _49\"> </span>un'operazione <span class=\"_ _46\"> </span>diversa dall'aggregazione aziendale che <span class=\"_ _2b\"></span>no<span class=\"_ _0\"></span>n influenzi <span class=\"_ _29\"></span>n\u00e9 l'utile <span class=\"_ _29\"></span>(o perdita) <span class=\"_ _29\"></span>contabile n\u00e9 <span class=\"_ _29\"></span>il reddito <span class=\"_ _29\"></span>imponibile (o <span class=\"_ _29\"></span>perdita fiscale), <span class=\"_ _23\"></span>nonch\u00e9 <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>differenze <span class=\"_ _23\"></span>relative <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>investimenti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"></span>congiunto <span class=\"_ _23\"></span>nella misura in cui \u00e8 probabile che, nel presumibile fu<span class=\"_ _0\"></span>turo, la differenza temporanea non<span class=\"_ _0\"></span> si riverser\u00e0. <span class=\"_ _0\"></span> Le attivit\u00e0 e le passivit\u00e0 per imposte differite sono valutate utilizzando le aliquote fiscali che si prevede saranno <span class=\"_ _22\"></span>applicabili <span class=\"_ _22\"></span>nell'esercizio <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>sar\u00e0 <span class=\"_ _0\"></span>realizzata<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>l'attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>o <span class=\"_ _0\"></span>sar\u00e0 <span class=\"_ _22\"></span>estinta <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>riferiscon<span class=\"_ _0\"></span>o, sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>aliquote <span class=\"_ _22\"></span>fiscali <span class=\"_ _23\"></span>stabilite <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>provvedimenti <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>sostanzialmente <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>vi<span class=\"_ _0\"></span>gore <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di chiusura <span class=\"_ _29\"></span>dell\u2019esercizio. <span class=\"_ _29\"></span>Le <span class=\"_ _2b\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>le passivit\u00e0<span class=\"ff56\"> <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i<span class=\"_ _0\"></span>mposte <span class=\"_ _29\"></span>differite <span class=\"_ _29\"></span>sono <span class=\"_ _29\"></span>compensate <span class=\"_ _2b\"></span>in presenza <span class=\"_ _2b\"></span>di un <span class=\"_ _2b\"></span>diritto<span class=\"_ _0\"></span> </span>legalmente es<span class=\"_ _0\"></span>ercitabile di <span class=\"_ _0\"></span>compensare <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti con<span class=\"_ _0\"></span> le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>fiscali <span class=\"_ _0\"></span>correnti <span class=\"_ _0\"></span>e se <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 e le <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>per imposte <span class=\"_ _29\"></span>differite sono <span class=\"_ _29\"></span>relative <span class=\"_ _29\"></span>a imposte <span class=\"_ _2b\"></span>sul reddito applicate dalla <span class=\"_ _29\"></span>medesima autorit\u00e0 <span class=\"_ _29\"></span>fiscale sullo stesso soggetto <span class=\"_ _29\"></span>passivo d'imposta o <span class=\"_ _29\"></span>soggetti passivi d'imposta <span class=\"_ _29\"></span>diversi che intendono reg<span class=\"_ _29\"></span>olare le passivit\u00e0 e le attivit\u00e0 fiscali correnti su base netta, o<span class=\"_ _0\"></span> realizzare le attivit\u00e0 e regolare le passivit\u00e0 con<span class=\"_ _0\"></span>tempo<span class=\"_ _0\"></span>raneamente. <span class=\"ff57\"> </span>Le <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>imposte <span class=\"_ _2b\"></span>differite <span class=\"_ _3d\"></span>sono <span class=\"_ _2b\"></span>rilevate <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>misura <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>probabile <span class=\"_ _2b\"></span>che <span class=\"_ _3d\"></span>sia <span class=\"_ _2b\"></span>disponibile <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>reddito imponibile <span class=\"_ _28\"></span>futuro <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>fronte <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>stesse <span class=\"_ _28\"></span>possano <span class=\"_ _28\"></span>essere <span class=\"_ _28\"></span>utilizzate. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>imposte<span class=\"_ _0\"></span> differite <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>rivisto <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>viene <span class=\"_ _23\"></span>ridotto <span class=\"_ _23\"></span>nella <span class=\"_ _22\"></span>misura <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _23\"></span>probabile <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>il relativo beneficio fiscale sia realizzabile.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__67": {
   "value": "2.7.13.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Benefici ai dipendenti<span class=\"_ _0\"></span> I <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>successivi <span class=\"_ _23\"></span>al <span class=\"_ _0\"></span>rap<span class=\"_ _0\"></span>porto <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>lavo<span class=\"_ _0\"></span>ro <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>definiti <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>programmi <span class=\"_ _0\"></span>che <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>fu<span class=\"_ _0\"></span>nzio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>delle loro caratteristiche sono distinti in programmi a \u201ccontribut<span class=\"_ _0\"></span>i definiti\u201d e programmi a \u201cbenefici definiti\u201d.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Nei programmi <span class=\"_ _0\"></span>a con<span class=\"_ _0\"></span>tributi definiti <span class=\"_ _0\"></span>l\u2019obbligazione <span class=\"_ _0\"></span>dell\u2019impresa, limitata <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>versamento dei <span class=\"_ _0\"></span>contrib<span class=\"_ _0\"></span>uti a un\u2019entit\u00e0 giuridicamente distinta, <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 costituita dai contributi dovuti alla data di riferimento<span class=\"_ _0\"></span> del bilancio. <span class=\"_ _0\"></span> </span>La <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2c\"> </span>relativa <span class=\"_ _2d\"> </span>ai <span class=\"_ _28\"></span>prog<span class=\"_ _0\"></span>rammi <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>benefici <span class=\"_ _2d\"> </span>definiti, <span class=\"_ _28\"></span>come <span class=\"_ _2d\"> </span>il <span class=\"_ _28\"></span>trattamento <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>fine <span class=\"_ _2d\"> </span>rapporto <span class=\"_ _28\"></span>definito dall\u2019art. <span class=\"_ _2b\"></span>2120 <span class=\"_ _2b\"></span>C.C., <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>eventuali <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>servizio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>piano, <span class=\"_ _2b\"></span>\u00e8<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>determinata, <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>supporto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>esperti<span class=\"_ _0\"></span> </span>indipendenti, <span class=\"_ _0\"></span>sulla <span class=\"_ _0\"></span>base di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>attuariali <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rilevata <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>competenza <span class=\"_ _0\"></span>coerentemente <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>periodo <span class=\"_ _0\"></span>lavorativo necessario all\u2019ottenimento dei benefici. Gli utili e le perdite attu<span class=\"_ _0\"></span>ariali relative ai programmi a bene<span class=\"_ _0\"></span><span class=\"ff56\">fici definiti </span>derivanti <span class=\"_ _0\"></span>da variazioni <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>ipotesi attuariali <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>modifiche delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>piani sono <span class=\"_ _0\"></span>immediatamente<span class=\"_ _0\"></span> rilevati tra le componenti di conto economico comples<span class=\"_ _0\"></span>sivo.  Gli <span class=\"_ _22\"></span>ob<span class=\"_ _0\"></span>blighi <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>dipendenti <span class=\"_ _22\"></span>dovu<span class=\"_ _0\"></span>ti <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _23\"></span>spesa non appena il servizio relativo \u00e8 stato reso. Una passivit\u00e0 deve esser<span class=\"_ _0\"></span>e registrata per il pagamento anticipato se<span class=\"_ _0\"></span> il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>attualmente <span class=\"_ _22\"></span>un'o<span class=\"_ _0\"></span>bbligazione <span class=\"_ _22\"></span>legale <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fatto <span class=\"_ _23\"></span>a <span class=\"_ _0\"></span>pagare <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>importo <span class=\"_ _0\"></span>sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>lavo<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>svolto dal dipendente, ed \u00e8 possibile stimare l'obb<span class=\"_ _0\"></span>ligazione in termini affidabili.<span class=\"_ _0\"></span> L'obbligazione netta da parte <span class=\"_ _29\"></span>del Gruppo, in considerazione dei <span class=\"_ _29\"></span>benefici per <span class=\"_ _29\"></span>i dipendenti dovuti <span class=\"_ _29\"></span>a lungo termine, \u00e8 <span class=\"_ _0\"></span>costituita <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>benefici futuri <span class=\"_ _0\"></span>dovuti <span class=\"_ _0\"></span>ai dipendenti <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cambio dei <span class=\"_ _0\"></span>servizi <span class=\"_ _0\"></span>resi nell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _0\"></span>corrente e negli <span class=\"_ _2b\"></span>esercizi precedenti. <span class=\"_ _2b\"></span>Tali <span class=\"_ _2b\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _2b\"></span>sono attualizzati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>determinare <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>attuale. <span class=\"_ _2b\"></span>Le rimodulazioni di tali obbligazioni sono rilevate nel conto economico dell'esercizio in<span class=\"_ _0\"></span> cui avvengono le<span class=\"_ _0\"></span> rimodulazio<span class=\"_ _0\"></span>ni. I <span class=\"_ _2c\"></span>benefici <span class=\"_ _2c\"></span>legati <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>cessazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>rapporto <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>lavoro <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"> </span>contabilizzati <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>spese <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span>primo <span class=\"_ _2c\"></span>dei seguenti momenti: quando il Gruppo non pu\u00f2 pi\u00f9 revocare l'offerta di fornire tali benefici o quando il Gruppo registra <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>misure <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>ristrutturazione. <span class=\"_ _23\"></span>Se <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>prevedi<span class=\"_ _0\"></span>bile <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>saranno <span class=\"_ _22\"></span>compen<span class=\"_ _0\"></span>sati entro dodici mesi dalla data di chiusura d<span class=\"_ _0\"></span>el bilancio, essi vengono attualizzati.<span class=\"_ _0\"></span> Gli <span class=\"_ _22\"></span>obbl<span class=\"_ _0\"></span>ighi <span class=\"_ _22\"></span>pensionistici <span class=\"_ _23\"></span>derivanti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>piani <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>definiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>determina<span class=\"_ _0\"></span>ti <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzan<span class=\"_ _0\"></span>do <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>metodo della <span class=\"_ _2c\"></span><span class=\"ff5d\">\u201c</span>proiezione <span class=\"_ _2c\"></span>unitaria <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>credito<span class=\"ff5d\">\u201d <span class=\"_ _28\"> </span>(IAS <span class=\"_ _2d\"> </span>19)</span>. <span class=\"_ _28\"></span>I <span class=\"_ _2c\"> </span>benefici <span class=\"_ _2d\"> </span>attesi, <span class=\"_ _28\"></span>comprese <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>componenti <span class=\"_ _28\"></span>dinamiche <span class=\"_ _2c\"> </span>(ad esempio, <span class=\"_ _2a\"> </span>gli <span class=\"_ _2d\"> </span>aumenti <span class=\"_ _2d\"> </span>salar<span class=\"_ _0\"></span>iali <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estazioni <span class=\"_ _2a\"> </span>pensionistiche), <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>rilevati <span class=\"_ _2d\"> </span>lungo <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>periodo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>servizio complessivo <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rispettivo <span class=\"_ _0\"></span>dipenden<span class=\"_ _0\"></span>te. <span class=\"_ _0\"></span>L'importo <span class=\"_ _0\"></span>viene attualizzato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>esso <span class=\"_ _0\"></span>viene dedot<span class=\"_ _0\"></span>to il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>delle attivit\u00e0 a servizio del piano. Si ricorre alla con<span class=\"_ _0\"></span>sulenza attuariale. <span class=\"_ _0\"></span> Gli <span class=\"_ _2a\"> </span>utili <span class=\"_ _2a\"> </span>o <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>attuariali <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da <span class=\"_ _2d\"> </span>scostamenti <span class=\"_\"> </span>tra <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>variazioni <span class=\"_ _2a\"> </span>previste <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>realizzate <span class=\"_\"> </span>dei beneficiari del piano <span class=\"_ _29\"></span>e delle <span class=\"_ _29\"></span>ipotesi attuariali sono iscritti <span class=\"_ _29\"></span>a conto economico <span class=\"_ _29\"></span>complessivo nel periodo in <span class=\"_ _29\"></span>cui si verificano e sono indicati separatamente nel pr<span class=\"_ _0\"></span>ospetto del conto economico complessivo. <span class=\"_ _0\"></span> I <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>servizio <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>contabilizzati <span class=\"_ _0\"></span>nei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _0\"></span>person<span class=\"_ _0\"></span>ale. Anch<span class=\"_ _0\"></span>e gl<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>interessi <span class=\"_ _0\"></span>passivi <span class=\"_ _0\"></span>derivanti <span class=\"_ _0\"></span>dalla capitalizzazione <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"></span>obblighi <span class=\"_ _2c\"> </span>pensionistici <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"> </span>proventi <span class=\"_ _2d\"> </span>derivanti <span class=\"_ _2c\"></span>dalle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>servizio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>piano <span class=\"_ _2d\"> </span>sono registrati tra le spese per il personale, ut<span class=\"_ _0\"></span>ilizzando il tasso di sconto dell'obbligazio<span class=\"_ _0\"></span>ne a benefici defini<span class=\"_ _0\"></span>ti. L'eventuale <span class=\"_ _23\"></span>eccedenza <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _23\"></span>rispetto <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>rilevare <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>limitata <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>perdite <span class=\"_ _28\"></span>attuariali nette cumulate <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>contabilizzate e al <span class=\"_ _0\"></span>costo pr<span class=\"_ _0\"></span>evidenziale relativo <span class=\"_ _0\"></span>alle prestazioni di<span class=\"_ _0\"></span> lavoro passate, <span class=\"_ _0\"></span>oltre al valore <span class=\"_\"> </span>attuale <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>eventuali <span class=\"_ _8b\"> </span>rimborsi <span class=\"_ _8b\"> </span>disponibili <span class=\"_ _8b\"> </span>e <span class=\"_\"> </span>alla <span class=\"_ _8b\"> </span>riduzione <span class=\"_ _8b\"> </span>dei <span class=\"_ _8b\"> </span>contributi <span class=\"_ _8b\"> </span>futuri <span class=\"_ _8b\"> </span>al <span class=\"_\"> </span>pi<span class=\"_ _0\"></span>ano. <span class=\"_\"> </span>Il <span class=\"_\"> </span>costo<span class=\"_ _0\"></span> previdenziale relativo alle prestazioni di lavoro <span class=\"_ _0\"></span>passate \u00e8 rilevato nell'utile o nella perdita<span class=\"_ _0\"></span> <span class=\"ff5d\">d\u2019esercizio</span>. I <span class=\"_ _2d\"> </span>contributi <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>datore <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>lavoro <span class=\"_ _2d\"> </span>versati <span class=\"_ _2d\"> </span>dal <span class=\"_ _2c\"></span>Gru<span class=\"_ _0\"></span>ppo <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>un'entit\u00e0 <span class=\"_ _2c\"></span>indipenden<span class=\"_ _0\"></span>te <span class=\"_ _2d\"> </span>nell'ambito <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>a contribuzione <span class=\"_ _2b\"></span>defin<span class=\"_ _0\"></span>ita, <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>possono <span class=\"_ _2b\"></span>sorgere <span class=\"_ _2b\"></span>ul<span class=\"_ _0\"></span>teriori <span class=\"_ _2b\"></span>obbligh<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>legali <span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>impliciti <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>pagamento, <span class=\"_ _29\"></span>sono spesati nel momento<span class=\"_ _0\"></span> in cui <span class=\"_ _0\"></span>sono sostenuti, <span class=\"_ _0\"></span>non appena il <span class=\"_ _0\"></span>dipendente \u00e8 in <span class=\"_ _0\"></span>servizio. I <span class=\"_ _0\"></span>paga<span class=\"_ _22\"></span>menti anticipati sono riconosciuti <span class=\"_ _29\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>misura in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>si crea <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>diritto al <span class=\"_ _2b\"></span>rimborso <span class=\"_ _2b\"></span>o alla <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>dei pagamenti <span class=\"_ _2b\"></span>futuri.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__66": {
   "value": "2.7.13.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Benefici ai dipendenti<span class=\"_ _0\"></span> I <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>successivi <span class=\"_ _23\"></span>al <span class=\"_ _0\"></span>rap<span class=\"_ _0\"></span>porto <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>lavo<span class=\"_ _0\"></span>ro <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>definiti <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>programmi <span class=\"_ _0\"></span>che <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>fu<span class=\"_ _0\"></span>nzio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>delle loro caratteristiche sono distinti in programmi a \u201ccontribut<span class=\"_ _0\"></span>i definiti\u201d e programmi a \u201cbenefici definiti\u201d.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Nei programmi <span class=\"_ _0\"></span>a con<span class=\"_ _0\"></span>tributi definiti <span class=\"_ _0\"></span>l\u2019obbligazione <span class=\"_ _0\"></span>dell\u2019impresa, limitata <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>versamento dei <span class=\"_ _0\"></span>contrib<span class=\"_ _0\"></span>uti a un\u2019entit\u00e0 giuridicamente distinta, <span class=\"_ _0\"></span><span class=\"ff56\">\u00e8 costituita dai contributi dovuti alla data di riferimento<span class=\"_ _0\"></span> del bilancio. <span class=\"_ _0\"></span> </span>La <span class=\"_ _2c\"></span>passivit\u00e0 <span class=\"_ _2c\"> </span>relativa <span class=\"_ _2d\"> </span>ai <span class=\"_ _28\"></span>prog<span class=\"_ _0\"></span>rammi <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>benefici <span class=\"_ _2d\"> </span>definiti, <span class=\"_ _28\"></span>come <span class=\"_ _2d\"> </span>il <span class=\"_ _28\"></span>trattamento <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>fine <span class=\"_ _2d\"> </span>rapporto <span class=\"_ _28\"></span>definito dall\u2019art. <span class=\"_ _2b\"></span>2120 <span class=\"_ _2b\"></span>C.C., <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>eventuali <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>servizio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>piano, <span class=\"_ _2b\"></span>\u00e8<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>determinata, <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>supporto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>esperti<span class=\"_ _0\"></span> </span>indipendenti, <span class=\"_ _0\"></span>sulla <span class=\"_ _0\"></span>base di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>attuariali <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rilevata <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>competenza <span class=\"_ _0\"></span>coerentemente <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>periodo <span class=\"_ _0\"></span>lavorativo necessario all\u2019ottenimento dei benefici. Gli utili e le perdite attu<span class=\"_ _0\"></span>ariali relative ai programmi a bene<span class=\"_ _0\"></span><span class=\"ff56\">fici definiti </span>derivanti <span class=\"_ _0\"></span>da variazioni <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>ipotesi attuariali <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>modifiche delle <span class=\"_ _0\"></span>condizioni <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>piani sono <span class=\"_ _0\"></span>immediatamente<span class=\"_ _0\"></span> rilevati tra le componenti di conto economico comples<span class=\"_ _0\"></span>sivo.  Gli <span class=\"_ _22\"></span>ob<span class=\"_ _0\"></span>blighi <span class=\"_ _22\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>dipendenti <span class=\"_ _22\"></span>dovu<span class=\"_ _0\"></span>ti <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>breve <span class=\"_ _22\"></span>termine <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _23\"></span>spesa non appena il servizio relativo \u00e8 stato reso. Una passivit\u00e0 deve esser<span class=\"_ _0\"></span>e registrata per il pagamento anticipato se<span class=\"_ _0\"></span> il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>ha <span class=\"_ _22\"></span>attualmente <span class=\"_ _22\"></span>un'o<span class=\"_ _0\"></span>bbligazione <span class=\"_ _22\"></span>legale <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>fatto <span class=\"_ _23\"></span>a <span class=\"_ _0\"></span>pagare <span class=\"_ _22\"></span>tale <span class=\"_ _23\"></span>importo <span class=\"_ _0\"></span>sulla <span class=\"_ _22\"></span>base <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>lavo<span class=\"_ _0\"></span>r<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>svolto dal dipendente, ed \u00e8 possibile stimare l'obb<span class=\"_ _0\"></span>ligazione in termini affidabili.<span class=\"_ _0\"></span> L'obbligazione netta da parte <span class=\"_ _29\"></span>del Gruppo, in considerazione dei <span class=\"_ _29\"></span>benefici per <span class=\"_ _29\"></span>i dipendenti dovuti <span class=\"_ _29\"></span>a lungo termine, \u00e8 <span class=\"_ _0\"></span>costituita <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>benefici futuri <span class=\"_ _0\"></span>dovuti <span class=\"_ _0\"></span>ai dipendenti <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cambio dei <span class=\"_ _0\"></span>servizi <span class=\"_ _0\"></span>resi nell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _0\"></span>corrente e negli <span class=\"_ _2b\"></span>esercizi precedenti. <span class=\"_ _2b\"></span>Tali <span class=\"_ _2b\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _2b\"></span>sono attualizzati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>determinare <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>loro <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>attuale. <span class=\"_ _2b\"></span>Le rimodulazioni di tali obbligazioni sono rilevate nel conto economico dell'esercizio in<span class=\"_ _0\"></span> cui avvengono le<span class=\"_ _0\"></span> rimodulazio<span class=\"_ _0\"></span>ni. I <span class=\"_ _2c\"></span>benefici <span class=\"_ _2c\"></span>legati <span class=\"_ _2c\"></span>alla <span class=\"_ _28\"></span>cessazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>rapporto <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>lavoro <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"> </span>contabilizzati <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>spese <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span>primo <span class=\"_ _2c\"></span>dei seguenti momenti: quando il Gruppo non pu\u00f2 pi\u00f9 revocare l'offerta di fornire tali benefici o quando il Gruppo registra <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>misure <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>ristrutturazione. <span class=\"_ _23\"></span>Se <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>prevedi<span class=\"_ _0\"></span>bile <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>saranno <span class=\"_ _22\"></span>compen<span class=\"_ _0\"></span>sati entro dodici mesi dalla data di chiusura d<span class=\"_ _0\"></span>el bilancio, essi vengono attualizzati.<span class=\"_ _0\"></span> Gli <span class=\"_ _22\"></span>obbl<span class=\"_ _0\"></span>ighi <span class=\"_ _22\"></span>pensionistici <span class=\"_ _23\"></span>derivanti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>piani <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>definiti <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>determina<span class=\"_ _0\"></span>ti <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzan<span class=\"_ _0\"></span>do <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>metodo della <span class=\"_ _2c\"></span><span class=\"ff5d\">\u201c</span>proiezione <span class=\"_ _2c\"></span>unitaria <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>credito<span class=\"ff5d\">\u201d <span class=\"_ _28\"> </span>(IAS <span class=\"_ _2d\"> </span>19)</span>. <span class=\"_ _28\"></span>I <span class=\"_ _2c\"> </span>benefici <span class=\"_ _2d\"> </span>attesi, <span class=\"_ _28\"></span>comprese <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>componenti <span class=\"_ _28\"></span>dinamiche <span class=\"_ _2c\"> </span>(ad esempio, <span class=\"_ _2a\"> </span>gli <span class=\"_ _2d\"> </span>aumenti <span class=\"_ _2d\"> </span>salar<span class=\"_ _0\"></span>iali <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estazioni <span class=\"_ _2a\"> </span>pensionistiche), <span class=\"_ _2d\"> </span>sono <span class=\"_ _2a\"> </span>rilevati <span class=\"_ _2d\"> </span>lungo <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>periodo <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>servizio complessivo <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rispettivo <span class=\"_ _0\"></span>dipenden<span class=\"_ _0\"></span>te. <span class=\"_ _0\"></span>L'importo <span class=\"_ _0\"></span>viene attualizzato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>esso <span class=\"_ _0\"></span>viene dedot<span class=\"_ _0\"></span>to il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _0\"></span>delle attivit\u00e0 a servizio del piano. Si ricorre alla con<span class=\"_ _0\"></span>sulenza attuariale. <span class=\"_ _0\"></span> Gli <span class=\"_ _2a\"> </span>utili <span class=\"_ _2a\"> </span>o <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>perdite <span class=\"_ _2a\"> </span>attuariali <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da <span class=\"_ _2d\"> </span>scostamenti <span class=\"_\"> </span>tra <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>variazioni <span class=\"_ _2a\"> </span>previste <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>realizzate <span class=\"_\"> </span>dei beneficiari del piano <span class=\"_ _29\"></span>e delle <span class=\"_ _29\"></span>ipotesi attuariali sono iscritti <span class=\"_ _29\"></span>a conto economico <span class=\"_ _29\"></span>complessivo nel periodo in <span class=\"_ _29\"></span>cui si verificano e sono indicati separatamente nel pr<span class=\"_ _0\"></span>ospetto del conto economico complessivo. <span class=\"_ _0\"></span> I <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>servizio <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>contabilizzati <span class=\"_ _0\"></span>nei <span class=\"_ _0\"></span>costi <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _0\"></span>person<span class=\"_ _0\"></span>ale. Anch<span class=\"_ _0\"></span>e gl<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>interessi <span class=\"_ _0\"></span>passivi <span class=\"_ _0\"></span>derivanti <span class=\"_ _0\"></span>dalla capitalizzazione <span class=\"_ _2d\"> </span>degli <span class=\"_ _2c\"></span>obblighi <span class=\"_ _2c\"> </span>pensionistici <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"> </span>proventi <span class=\"_ _2d\"> </span>derivanti <span class=\"_ _2c\"></span>dalle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>servizio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>piano <span class=\"_ _2d\"> </span>sono registrati tra le spese per il personale, ut<span class=\"_ _0\"></span>ilizzando il tasso di sconto dell'obbligazio<span class=\"_ _0\"></span>ne a benefici defini<span class=\"_ _0\"></span>ti. L'eventuale <span class=\"_ _23\"></span>eccedenza <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _23\"></span>rispetto <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>rilevare <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>limitata <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>perdite <span class=\"_ _28\"></span>attuariali nette cumulate <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>contabilizzate e al <span class=\"_ _0\"></span>costo pr<span class=\"_ _0\"></span>evidenziale relativo <span class=\"_ _0\"></span>alle prestazioni di<span class=\"_ _0\"></span> lavoro passate, <span class=\"_ _0\"></span>oltre al valore <span class=\"_\"> </span>attuale <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>eventuali <span class=\"_ _8b\"> </span>rimborsi <span class=\"_ _8b\"> </span>disponibili <span class=\"_ _8b\"> </span>e <span class=\"_\"> </span>alla <span class=\"_ _8b\"> </span>riduzione <span class=\"_ _8b\"> </span>dei <span class=\"_ _8b\"> </span>contributi <span class=\"_ _8b\"> </span>futuri <span class=\"_ _8b\"> </span>al <span class=\"_\"> </span>pi<span class=\"_ _0\"></span>ano. <span class=\"_\"> </span>Il <span class=\"_\"> </span>costo<span class=\"_ _0\"></span> previdenziale relativo alle prestazioni di lavoro <span class=\"_ _0\"></span>passate \u00e8 rilevato nell'utile o nella perdita<span class=\"_ _0\"></span> <span class=\"ff5d\">d\u2019esercizio</span>. I <span class=\"_ _2d\"> </span>contributi <span class=\"_ _2c\"> </span>del <span class=\"_ _2d\"> </span>datore <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>lavoro <span class=\"_ _2d\"> </span>versati <span class=\"_ _2d\"> </span>dal <span class=\"_ _2c\"></span>Gru<span class=\"_ _0\"></span>ppo <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>un'entit\u00e0 <span class=\"_ _2c\"></span>indipenden<span class=\"_ _0\"></span>te <span class=\"_ _2d\"> </span>nell'ambito <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span>piani <span class=\"_ _2d\"> </span>a contribuzione <span class=\"_ _2b\"></span>defin<span class=\"_ _0\"></span>ita, <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>possono <span class=\"_ _2b\"></span>sorgere <span class=\"_ _2b\"></span>ul<span class=\"_ _0\"></span>teriori <span class=\"_ _2b\"></span>obbligh<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>legali <span class=\"_ _29\"></span>o <span class=\"_ _2b\"></span>impliciti <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>pagamento, <span class=\"_ _29\"></span>sono spesati nel momento<span class=\"_ _0\"></span> in cui <span class=\"_ _0\"></span>sono sostenuti, <span class=\"_ _0\"></span>non appena il <span class=\"_ _0\"></span>dipendente \u00e8 in <span class=\"_ _0\"></span>servizio. I <span class=\"_ _0\"></span>paga<span class=\"_ _22\"></span>menti anticipati sono riconosciuti <span class=\"_ _29\"></span>come <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _29\"></span>nella <span class=\"_ _2b\"></span>misura in <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>si crea <span class=\"_ _2b\"></span>un <span class=\"_ _2b\"></span>diritto al <span class=\"_ _2b\"></span>rimborso <span class=\"_ _2b\"></span>o alla <span class=\"_ _2b\"></span>riduzione <span class=\"_ _2b\"></span>dei pagamenti <span class=\"_ _2b\"></span>futuri.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__68": {
   "value": "2.7.14.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Fondi rischi ed oneri I fondi <span class=\"_ _29\"></span>per rischi <span class=\"_ _2b\"></span>ed oneri sono <span class=\"_ _29\"></span>passivit\u00e0 <span class=\"_ _29\"></span>con scadenza <span class=\"_ _2b\"></span>o ammontare incerti. Tali <span class=\"_ _2b\"></span>fondi sono rilevati solo se:<span class=\"ls0\"> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">il Gruppo ha un\u2019obbligazione in corso (legale o implicita) quale ris<span class=\"_ _0\"></span>ultato di un evento passato;<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">\u00e8 probabile <span class=\"_ _0\"></span>che per <span class=\"_ _0\"></span>adempiere all\u2019obbligazione <span class=\"_ _0\"></span>si render\u00e0 <span class=\"_ _0\"></span>necessario l\u2019impiego <span class=\"_ _0\"></span>di risorse <span class=\"_ _0\"></span>atte a </span></span>produrre benefici economici; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">pu\u00f2 essere fatta <span class=\"ff5d\">una stima attendibile d<span class=\"_ _0\"></span>ell\u2019ammontare dell\u2019obbligazione.<span class=\"_ _0\"></span></span> </span></span>Gli <span class=\"_ _2b\"></span>importi accantonati <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>quindi <span class=\"_ _2b\"></span>le <span class=\"_ _29\"></span>migliori <span class=\"_ _2b\"></span>stime dell\u2019onere <span class=\"_ _2b\"></span>necessario <span class=\"_ _2b\"></span>per estinguere <span class=\"_ _2b\"></span>l\u2019obbligazione o per <span class=\"_ _2b\"></span>trasferirla a terzi <span class=\"_ _2b\"></span>alla data di <span class=\"_ _2b\"></span>riferimento del bilancio. <span class=\"_ _29\"></span>Laddove <span class=\"_ _29\"></span>l\u2019effetto del <span class=\"ff56\">valore <span class=\"_ _2b\"></span>attuale del <span class=\"_ _29\"></span>denaro \u00e8 <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> </span>aspetto rilevante, l\u2019importo <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> un <span class=\"_ _29\"></span>accantonamento \u00e8 <span class=\"_ _29\"></span>rappresentato dal <span class=\"_ _29\"></span>valore attuale <span class=\"_ _29\"></span>degli oneri <span class=\"_ _29\"></span>che si <span class=\"_ _2b\"></span>suppo<span class=\"_ _0\"></span>ne saranno necessari per estinguere l\u2019obbl<span class=\"_ _0\"></span>igazione.<span class=\"ff56\"> </span>I <span class=\"_ _29\"></span>fondi <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>garanzia sono <span class=\"_ _29\"></span>accantonati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>base all'evoluzione <span class=\"_ _29\"></span>prevista della <span class=\"_ _2b\"></span>perdita. Gli <span class=\"_ _2b\"></span>accantonamenti per contratti <span class=\"_ _22\"></span>d'acquisto <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendita <span class=\"_ _22\"></span>onerosi <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>stabiliti <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>ando <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _22\"></span>futuri <span class=\"_ _22\"></span>totali <span class=\"_ _0\"></span>previsti <span class=\"_ _23\"></span>superano <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>vendite attese.  Gli <span class=\"_ _2c\"></span>accantonamenti <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"></span>ristrutturazione <span class=\"_ _2d\"> </span>sono <span class=\"_ _2c\"></span>rilevati <span class=\"_ _2c\"> </span>solo <span class=\"_ _2d\"> </span>se <span class=\"_ _2c\"></span>viene <span class=\"_ _2c\"> </span>stabilito <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>comunicat<span class=\"_ _0\"></span>o <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"></span>parti interessate un piano di ristrutturazione formale e detta<span class=\"_ _0\"></span>gliato.  Gli <span class=\"_ _0\"></span>accantonamenti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>contratti <span class=\"_ _0\"></span>on<span class=\"_ _0\"></span>erosi <span class=\"_ _0\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>se <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>spese <span class=\"_ _0\"></span>inevitabili <span class=\"_ _22\"></span>derivanti <span class=\"_ _22\"></span>dal <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>tratto superano <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>benefici <span class=\"_ _0\"></span>previsti. <span class=\"_ _0\"></span>In <span class=\"_ _0\"></span>questo <span class=\"_ _0\"></span>caso, <span class=\"_ _0\"></span>l'accantonamento <span class=\"_ _0\"></span>viene <span class=\"_ _0\"></span>reg<span class=\"_ _22\"></span>istrato <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>valore <span class=\"_ _0\"></span>attuale <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>minore <span class=\"_ _0\"></span>tra il costo previsto per la risoluzione del con<span class=\"_ _0\"></span>tratto e il costo netto previsto per la sua continuazione.<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>accant<span class=\"_ _0\"></span>onamenti <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ris<span class=\"_ _0\"></span>chi <span class=\"_ _22\"></span>ambientali <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevati <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>fine <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>eliminare <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>danni <span class=\"_ _0\"></span>ambientali<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>derivanti da potenziale contaminazione e le relative sp<span class=\"_ _0\"></span>ese di gestione. Passivit\u00e0 potenziali Le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _28\"></span>potenziali <span class=\"_ _28\"></span>includono <span class=\"_ _28\"></span>obbligazioni <span class=\"_ _28\"></span>potenziali, <span class=\"_ _28\"></span>derivanti <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>eventi <span class=\"_ _28\"></span>passati, <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>richiedono l'adempimento <span class=\"_\"> </span>solo <span class=\"_ _8b\"> </span>se <span class=\"_\"> </span>si <span class=\"_ _8b\"> </span>verificano <span class=\"_ _8b\"> </span>uno <span class=\"_ _8b\"> </span>o <span class=\"_\"> </span>pi\u00f9 <span class=\"_ _8b\"> </span>eventi <span class=\"_\"> </span>futu<span class=\"_ _0\"></span>ri <span class=\"_\"> </span>incerti, <span class=\"_\"> </span>che <span class=\"_\"> </span>l'i<span class=\"_ _0\"></span>m<span class=\"_ _0\"></span>presa <span class=\"_\"> </span>non <span class=\"_ _8b\"> </span>pu\u00f2 <span class=\"_ _8b\"> </span>controllare completamente. Inoltre, <span class=\"_ _2b\"></span>le passivit\u00e0 <span class=\"_ _2b\"></span>potenziali includono obbli<span class=\"_ _29\"></span>gazioni <span class=\"_ _29\"></span>attuali <span class=\"_ _29\"></span>non <span class=\"_ _2b\"></span>ricon<span class=\"_ _0\"></span>osciute <span class=\"_ _29\"></span>che <span class=\"_ _29\"></span>derivano <span class=\"_ _29\"></span>da eventi <span class=\"_ _2e\"> </span>passati <span class=\"_ _2e\"> </span>ma <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>quali <span class=\"_ _2f\"> </span>\u00e8 <span class=\"_ _8b\"> </span>improbabile <span class=\"_ _2e\"> </span>che <span class=\"_ _2e\"> </span>sia <span class=\"_ _2e\"> </span>neces<span class=\"_ _0\"></span>sario <span class=\"_ _2e\"> </span>un <span class=\"_ _2e\"> </span>esborso <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>risor<span class=\"_ _0\"></span>se <span class=\"_ _8b\"> </span>per <span class=\"_ _2f\"> </span>estinguere l'obbligazione, n<span class=\"_ _0\"></span>onch\u00e9 <span class=\"_ _0\"></span>obbligazioni <span class=\"_ _0\"></span>il cui <span class=\"_ _0\"></span>importo <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>pu\u00f2 <span class=\"_ _0\"></span>essere determinato <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>sufficiente <span class=\"_ _0\"></span>attendibilit\u00e0. <span class=\"_ _0\"></span>A meno che la possibilit\u00e0 di un esborso per l'adempimento sia remota, viene fornita una descrizione della natura della passivit\u00e0 potenziale.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__69": {
   "value": "2.7.15.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Dividendi I <span class=\"_ _22\"></span>dividendi <span class=\"_ _22\"></span>d<span class=\"ff5d\">a <span class=\"_ _22\"></span>distribui<span class=\"_ _0\"></span>re <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>riconosciuti <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>solo <span class=\"_ _0\"></span>nell\u2019esercizio <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>quale <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>stessi <span class=\"_ _22\"></span>sono </span>stati <span class=\"_ _2b\"></span>deliberat<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>dall\u2019<span class=\"_ _0\"></span>Assemblea <span class=\"_ _2b\"></span>degli Azionisti. <span class=\"_ _2b\"></span>I <span class=\"_ _29\"></span>dividendi <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>percepire <span class=\"_ _2b\"></span>sono rilevati <span class=\"_ _2b\"></span>soltanto <span class=\"_ _29\"></span>quando <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stabilito il diritto a ricevere il pagamento.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__71": {
   "value": "2.7.16.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Riconoscimento dei ricavi<span class=\"_ _0\"></span> Il riconoscimento dei ricavi avviene attraverso le seg<span class=\"_ _0\"></span>uenti fasi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">identificazione del contratto (o dei contratti) co<span class=\"_ _0\"></span>n il cliente; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">individuazione delle obbligazioni di fare (o <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance oblig<span class=\"_ _0\"></span>ations\u201d</span><span class=\"ls7\">);</span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">determinazione del prezzo <span class=\"_ _29\"></span>della <span class=\"ff5d\">transazione: <span class=\"_ _29\"></span>il prezzo <span class=\"_ _29\"></span>della transazione <span class=\"_ _29\"></span>\u00e8 l\u2019importo <span class=\"_ _29\"></span>del corrispettivo <span class=\"_ _29\"></span>a </span></span></span>cui si ritiene di avere diritto in cambio del trasferimen<span class=\"_ _0\"></span>to al cliente dei servizi promessi;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">ripartizione del prezzo dell\u2019operazione tra le <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance obligations\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> del contratto; </span></span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56 ls7\">ri<span class=\"ls0\">conoscimento del ricavo nel momento del sod<span class=\"_ _0\"></span>disfacimento della <span class=\"ff5e\">\u201cp<span class=\"_ _0\"></span>erformance obligation\u201d<span class=\"_ _0\"></span></span>. </span></span></span>Specificatamente i ricavi possono essere ricono<span class=\"_ _0\"></span>sciuti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">in <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>momento <span class=\"_ _28\"></span>preciso, <span class=\"_ _28\"></span>quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>adempiuta <span class=\"_ _28\"></span>l\u2019obbligazione <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>fare <span class=\"_ _28\"></span>trasferendo <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>cliente <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>bene <span class=\"_ _23\"></span>o </span></span>servizio promesso <span class=\"ff5e\">(\u201cat a point in time\u201d<span class=\"_ _0\"></span></span>), o \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">nel <span class=\"_ _2b\"></span>corso<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del tempo, <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>che <span class=\"_ _2b\"></span>\u00e8 adempiuta <span class=\"_ _2b\"></span>l\u2019obbligazione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>fare, <span class=\"_ _29\"></span>trasferendo <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>cliente <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>bene </span></span>o servizio promesso (<span class=\"ff5e\">\u201cover time\u201d<span class=\"_ _0\"></span></span><span class=\"ls7\">).</span> I <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2a\"> </span>sono <span class=\"_ _2d\"> </span>rilevati <span class=\"_ _2a\"> </span>quando <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>dei <span class=\"_ _2d\"> </span>prodotti <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2a\"> </span>trasferito <span class=\"_ _2d\"> </span>all'acquirent<span class=\"_ _0\"></span>e. <span class=\"_ _2a\"> </span>Ci\u00f2 <span class=\"_ _2d\"> </span>avviene solitamente <span class=\"_ _23\"></span>quando, <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>consegna, <span class=\"_ _28\"></span>l'acquirente <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>fisicamente <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>prodotti <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>li <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>accettati, <span class=\"_ _28\"></span>e anche i rischi e i benefici significativi della propriet\u00e0 dei beni son<span class=\"_ _0\"></span>o stati trasferiti all'acquirente.<span class=\"_ _0\"></span> La <span class=\"_ _23\"></span>maggior <span class=\"_ _23\"></span>parte <span class=\"_ _23\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>Gruppo <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>costituta <span class=\"_ _23\"></span>da <span class=\"_ _28\"></span>vendite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>beni <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>pertanto <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>realizzata <span class=\"_ _28\"></span>su <span class=\"_ _23\"></span>base puntuale, <span class=\"_ _2c\"> </span>in <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2c\"></span>l'obbligo <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>prestazione <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _2d\"> </span>soddisfatto <span class=\"_ _28\"></span>al <span class=\"_ _2d\"> </span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2d\"> </span>consegna. <span class=\"_ _2c\"></span>Non <span class=\"_ _2c\"></span>esistono<span class=\"_ _0\"></span> garanzie che vadano oltre la garanzia legale.<span class=\"_ _0\"></span> Un <span class=\"_ _2b\"></span>credito <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevato <span class=\"_ _2b\"></span>non<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>appena <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>diritto <span class=\"_ _2b\"></span>incondizionato <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>corrispettivo. <span class=\"_ _2b\"></span>Al <span class=\"_ _2b\"></span>momento dell'adempimento dell'obbligazione <span class=\"_ _2b\"></span>di pre<span class=\"_ _29\"></span>stazione <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>consegna, il <span class=\"_ _2b\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _29\"></span>matura <span class=\"_ _2b\"></span>un diritto <span class=\"_ _2b\"></span>incondizionato<span class=\"_ _0\"></span> al corrispettivo. Le componenti finanziarie significative non <span class=\"_ _0\"></span>sono incluse nei contratti con<span class=\"_ _0\"></span> i clienti.  Se <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>contratti <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>clienti <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>previsti <span class=\"_ _2b\"></span>sconti <span class=\"_ _2b\"></span>sui <span class=\"_ _29\"></span>volumi, <span class=\"_ _2b\"></span>solitamente <span class=\"_ _29\"></span>concordati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>volumi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>vendita su <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>periodo <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dodici <span class=\"_ _23\"></span>mesi, <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>inclusi <span class=\"_ _23\"></span>nella <span class=\"_ _23\"></span>determinazio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>corrispettivo. <span class=\"_ _23\"></span>La <span class=\"_ _28\"></span>rilevazione <span class=\"_ _23\"></span>dei ric<span class=\"ls0\">avi <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>questi <span class=\"_ _29\"></span>casi <span class=\"_ _2b\"></span>si basa <span class=\"_ _2b\"></span>sui prezzi <span class=\"_ _2b\"></span>specificati nei <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>tratti al <span class=\"_ _2b\"></span>netto <span class=\"_ _29\"></span>degli <span class=\"_ _29\"></span>sconti <span class=\"_ _2b\"></span>sul volume <span class=\"_ _29\"></span>stimati. <span class=\"_ _2b\"></span>Gli sconti </span>sui <span class=\"_ _22\"></span>volumi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>calcolati <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>dell'importo <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>probabile. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>ricavi <span class=\"_ _22\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _23\"></span>solo <span class=\"_ _22\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>altamente probabile che non vi siano sto<span class=\"_ _0\"></span>rni significativi. I <span class=\"_ _23\"></span>redditi <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>locazione <span class=\"_ _23\"></span>degli <span class=\"_ _23\"></span>investimenti <span class=\"_ _22\"></span>immobiliari <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _22\"></span>altri <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>modo <span class=\"_ _23\"></span>lineare sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>rapporto <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>locazione. <span class=\"_ _22\"></span>I <span class=\"_ _22\"></span>canoni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>locazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _22\"></span>come altri proventi. Gli interessi <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>vengono maturati <span class=\"_ _0\"></span>su base <span class=\"_ _0\"></span>temporale <span class=\"_ _0\"></span>con riferimento <span class=\"_ _0\"></span>all'importo <span class=\"_ _0\"></span>principale e <span class=\"_ _0\"></span>al tasso<span class=\"_ _0\"></span> di interesse effettivo.  Come <span class=\"_ _28\"></span>menzionato <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>paragrafo <span class=\"_ _28\"></span>precedente, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>proventi <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>dividendi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>a ricevere il pagamento \u00e8 stato <span class=\"_ _0\"></span>legalmente stabilito.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__70": {
   "value": "2.7.16.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Riconoscimento dei ricavi<span class=\"_ _0\"></span> Il riconoscimento dei ricavi avviene attraverso le seg<span class=\"_ _0\"></span>uenti fasi: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">identificazione del contratto (o dei contratti) co<span class=\"_ _0\"></span>n il cliente; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">individuazione delle obbligazioni di fare (o <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance oblig<span class=\"_ _0\"></span>ations\u201d</span><span class=\"ls7\">);</span> </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">determinazione del prezzo <span class=\"_ _29\"></span>della <span class=\"ff5d\">transazione: <span class=\"_ _29\"></span>il prezzo <span class=\"_ _29\"></span>della transazione <span class=\"_ _29\"></span>\u00e8 l\u2019importo <span class=\"_ _29\"></span>del corrispettivo <span class=\"_ _29\"></span>a </span></span></span>cui si ritiene di avere diritto in cambio del trasferimen<span class=\"_ _0\"></span>to al cliente dei servizi promessi;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">ripartizione del prezzo dell\u2019operazione tra le <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cperformance obligations\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> del contratto; </span></span></span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56 ls7\">ri<span class=\"ls0\">conoscimento del ricavo nel momento del sod<span class=\"_ _0\"></span>disfacimento della <span class=\"ff5e\">\u201cp<span class=\"_ _0\"></span>erformance obligation\u201d<span class=\"_ _0\"></span></span>. </span></span></span>Specificatamente i ricavi possono essere ricono<span class=\"_ _0\"></span>sciuti: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">in <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>momento <span class=\"_ _28\"></span>preciso, <span class=\"_ _28\"></span>quando <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>adempiuta <span class=\"_ _28\"></span>l\u2019obbligazione <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>fare <span class=\"_ _28\"></span>trasferendo <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>cliente <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>bene <span class=\"_ _23\"></span>o </span></span>servizio promesso <span class=\"ff5e\">(\u201cat a point in time\u201d<span class=\"_ _0\"></span></span>), o \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">nel <span class=\"_ _2b\"></span>corso<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>del tempo, <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>mano <span class=\"_ _29\"></span>che <span class=\"_ _2b\"></span>\u00e8 adempiuta <span class=\"_ _2b\"></span>l\u2019obbligazione <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>fare, <span class=\"_ _29\"></span>trasferendo <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>cliente <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>bene </span></span>o servizio promesso (<span class=\"ff5e\">\u201cover time\u201d<span class=\"_ _0\"></span></span><span class=\"ls7\">).</span> I <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2a\"> </span>sono <span class=\"_ _2d\"> </span>rilevati <span class=\"_ _2a\"> </span>quando <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>dei <span class=\"_ _2d\"> </span>prodotti <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2a\"> </span>trasferito <span class=\"_ _2d\"> </span>all'acquirent<span class=\"_ _0\"></span>e. <span class=\"_ _2a\"> </span>Ci\u00f2 <span class=\"_ _2d\"> </span>avviene solitamente <span class=\"_ _23\"></span>quando, <span class=\"_ _28\"></span>con <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>consegna, <span class=\"_ _28\"></span>l'acquirente <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>fisicamente <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>possesso <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>prodotti <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>li <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>accettati, <span class=\"_ _28\"></span>e anche i rischi e i benefici significativi della propriet\u00e0 dei beni son<span class=\"_ _0\"></span>o stati trasferiti all'acquirente.<span class=\"_ _0\"></span> La <span class=\"_ _23\"></span>maggior <span class=\"_ _23\"></span>parte <span class=\"_ _23\"></span>dei<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>Gruppo <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>costituta <span class=\"_ _23\"></span>da <span class=\"_ _28\"></span>vendite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>beni <span class=\"_ _23\"></span>e <span class=\"_ _28\"></span>pertanto <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>realizzata <span class=\"_ _28\"></span>su <span class=\"_ _23\"></span>base puntuale, <span class=\"_ _2c\"> </span>in <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2c\"></span>l'obbligo <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>prestazione <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _28\"></span>stato <span class=\"_ _2d\"> </span>soddisfatto <span class=\"_ _28\"></span>al <span class=\"_ _2d\"> </span>momento <span class=\"_ _28\"></span>della <span class=\"_ _2d\"> </span>consegna. <span class=\"_ _2c\"></span>Non <span class=\"_ _2c\"></span>esistono<span class=\"_ _0\"></span> garanzie che vadano oltre la garanzia legale.<span class=\"_ _0\"></span> Un <span class=\"_ _2b\"></span>credito <span class=\"_ _2b\"></span>viene <span class=\"_ _2b\"></span>rilevato <span class=\"_ _2b\"></span>non<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>appena <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _2b\"></span>ha <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>diritto <span class=\"_ _2b\"></span>incondizionato <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>corrispettivo. <span class=\"_ _2b\"></span>Al <span class=\"_ _2b\"></span>momento dell'adempimento dell'obbligazione <span class=\"_ _2b\"></span>di pre<span class=\"_ _29\"></span>stazione <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>consegna, il <span class=\"_ _2b\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _29\"></span>matura <span class=\"_ _2b\"></span>un diritto <span class=\"_ _2b\"></span>incondizionato<span class=\"_ _0\"></span> al corrispettivo. Le componenti finanziarie significative non <span class=\"_ _0\"></span>sono incluse nei contratti con<span class=\"_ _0\"></span> i clienti.  Se <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>contratti <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>i <span class=\"_ _29\"></span>clienti <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>previsti <span class=\"_ _2b\"></span>sconti <span class=\"_ _2b\"></span>sui <span class=\"_ _29\"></span>volumi, <span class=\"_ _2b\"></span>solitamente <span class=\"_ _29\"></span>concordati <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>volumi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>vendita su <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>periodo <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dodici <span class=\"_ _23\"></span>mesi, <span class=\"_ _23\"></span>questi <span class=\"_ _23\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>inclusi <span class=\"_ _23\"></span>nella <span class=\"_ _23\"></span>determinazio<span class=\"_ _0\"></span>ne <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>corrispettivo. <span class=\"_ _23\"></span>La <span class=\"_ _28\"></span>rilevazione <span class=\"_ _23\"></span>dei ric<span class=\"ls0\">avi <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>questi <span class=\"_ _29\"></span>casi <span class=\"_ _2b\"></span>si basa <span class=\"_ _2b\"></span>sui prezzi <span class=\"_ _2b\"></span>specificati nei <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>tratti al <span class=\"_ _2b\"></span>netto <span class=\"_ _29\"></span>degli <span class=\"_ _29\"></span>sconti <span class=\"_ _2b\"></span>sul volume <span class=\"_ _29\"></span>stimati. <span class=\"_ _2b\"></span>Gli sconti </span>sui <span class=\"_ _22\"></span>volumi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>calcolati <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>dell'importo <span class=\"_ _23\"></span>pi\u00f9 <span class=\"_ _22\"></span>probabile. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>ricavi <span class=\"_ _22\"></span>vengono <span class=\"_ _22\"></span>rilevati <span class=\"_ _23\"></span>solo <span class=\"_ _22\"></span>se <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>altamente probabile che non vi siano sto<span class=\"_ _0\"></span>rni significativi. I <span class=\"_ _23\"></span>redditi <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>locazione <span class=\"_ _23\"></span>degli <span class=\"_ _23\"></span>investimenti <span class=\"_ _22\"></span>immobiliari <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>registrati <span class=\"_ _23\"></span>come <span class=\"_ _22\"></span>altri <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>modo <span class=\"_ _23\"></span>lineare sulla <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>durata <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>rapporto <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>locazione. <span class=\"_ _22\"></span>I <span class=\"_ _22\"></span>canoni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>locazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>immobili <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>registrati <span class=\"_ _22\"></span>come altri proventi. Gli interessi <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>vengono maturati <span class=\"_ _0\"></span>su base <span class=\"_ _0\"></span>temporale <span class=\"_ _0\"></span>con riferimento <span class=\"_ _0\"></span>all'importo <span class=\"_ _0\"></span>principale e <span class=\"_ _0\"></span>al tasso<span class=\"_ _0\"></span> di interesse effettivo.  Come <span class=\"_ _28\"></span>menzionato <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>paragrafo <span class=\"_ _28\"></span>precedente, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>proventi <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>dividendi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>rilevati <span class=\"_ _28\"></span>quando <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>diritto<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>a ricevere il pagamento \u00e8 stato <span class=\"_ _0\"></span>legalmente stabilito.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__75": {
   "value": "2.7.17.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri e proventi finanzia<span class=\"_ _0\"></span>ri Gli oneri e proventi finanziari sono rilevati a conto <span class=\"_ _0\"></span>economico in base al principio della maturazione.<span class=\"_ _0\"></span> Se la <span class=\"_ _2b\"></span>produzio<span class=\"_ _0\"></span>ne di <span class=\"_ _2b\"></span>attivit\u00e0 immateriali <span class=\"_ _29\"></span>qualificate o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> attivit\u00e0 <span class=\"_ _2b\"></span>materiali si protrae <span class=\"_ _2b\"></span>per un lungo <span class=\"_ _29\"></span>periodo, gli <span class=\"_ _2b\"></span>oneri <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>verificano <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>questo <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>fino al <span class=\"_ _2b\"></span>completamento <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>rilevati <span class=\"_ _2b\"></span>come <span class=\"_ _29\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>costi di <span class=\"_ _22\"></span>produzione <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _0\"></span>IAS <span class=\"_ _23\"></span>23. <span class=\"_ _22\"></span>Alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _23\"></span>non <span class=\"_ _0\"></span>vi <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>applicazione all'interno del Gruppo. Gli <span class=\"_ _0\"></span>oneri <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>fino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>destinati <span class=\"_ _0\"></span>all'uso <span class=\"_ _0\"></span>previsto <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>essere registrati <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>ammortizzati <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>alla <span class=\"_ _2d\"> </span>loro <span class=\"_ _2d\"> </span>vita <span class=\"_ _2c\"> </span>utile <span class=\"_ _2d\"> </span>prevista. <span class=\"_ _2d\"> </span>Tutti <span class=\"_ _2c\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>altri <span class=\"_ _2c\"></span>oneri <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>correnti <span class=\"_ _2c\"> </span>sono registrati nel periodo in cui si verificano<span class=\"_ _0\"></span> nel conto economico tra le spese finanziarie.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__74": {
   "value": "2.7.17.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri e proventi finanzia<span class=\"_ _0\"></span>ri Gli oneri e proventi finanziari sono rilevati a conto <span class=\"_ _0\"></span>economico in base al principio della maturazione.<span class=\"_ _0\"></span> Se la <span class=\"_ _2b\"></span>produzio<span class=\"_ _0\"></span>ne di <span class=\"_ _2b\"></span>attivit\u00e0 immateriali <span class=\"_ _29\"></span>qualificate o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> attivit\u00e0 <span class=\"_ _2b\"></span>materiali si protrae <span class=\"_ _2b\"></span>per un lungo <span class=\"_ _29\"></span>periodo, gli <span class=\"_ _2b\"></span>oneri <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>verificano <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>questo <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>fino al <span class=\"_ _2b\"></span>completamento <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>rilevati <span class=\"_ _2b\"></span>come <span class=\"_ _29\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>costi di <span class=\"_ _22\"></span>produzione <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _0\"></span>IAS <span class=\"_ _23\"></span>23. <span class=\"_ _22\"></span>Alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _23\"></span>non <span class=\"_ _0\"></span>vi <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>applicazione all'interno del Gruppo. Gli <span class=\"_ _0\"></span>oneri <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>fino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>destinati <span class=\"_ _0\"></span>all'uso <span class=\"_ _0\"></span>previsto <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>essere registrati <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>ammortizzati <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>alla <span class=\"_ _2d\"> </span>loro <span class=\"_ _2d\"> </span>vita <span class=\"_ _2c\"> </span>utile <span class=\"_ _2d\"> </span>prevista. <span class=\"_ _2d\"> </span>Tutti <span class=\"_ _2c\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>altri <span class=\"_ _2c\"></span>oneri <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>correnti <span class=\"_ _2c\"> </span>sono registrati nel periodo in cui si verificano<span class=\"_ _0\"></span> nel conto economico tra le spese finanziarie.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__73": {
   "value": "2.7.17.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri e proventi finanzia<span class=\"_ _0\"></span>ri Gli oneri e proventi finanziari sono rilevati a conto <span class=\"_ _0\"></span>economico in base al principio della maturazione.<span class=\"_ _0\"></span> Se la <span class=\"_ _2b\"></span>produzio<span class=\"_ _0\"></span>ne di <span class=\"_ _2b\"></span>attivit\u00e0 immateriali <span class=\"_ _29\"></span>qualificate o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> attivit\u00e0 <span class=\"_ _2b\"></span>materiali si protrae <span class=\"_ _2b\"></span>per un lungo <span class=\"_ _29\"></span>periodo, gli <span class=\"_ _2b\"></span>oneri <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>verificano <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>questo <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>fino al <span class=\"_ _2b\"></span>completamento <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>rilevati <span class=\"_ _2b\"></span>come <span class=\"_ _29\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>costi di <span class=\"_ _22\"></span>produzione <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _0\"></span>IAS <span class=\"_ _23\"></span>23. <span class=\"_ _22\"></span>Alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _23\"></span>non <span class=\"_ _0\"></span>vi <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>applicazione all'interno del Gruppo. Gli <span class=\"_ _0\"></span>oneri <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>fino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>destinati <span class=\"_ _0\"></span>all'uso <span class=\"_ _0\"></span>previsto <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>essere registrati <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>ammortizzati <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>alla <span class=\"_ _2d\"> </span>loro <span class=\"_ _2d\"> </span>vita <span class=\"_ _2c\"> </span>utile <span class=\"_ _2d\"> </span>prevista. <span class=\"_ _2d\"> </span>Tutti <span class=\"_ _2c\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>altri <span class=\"_ _2c\"></span>oneri <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>correnti <span class=\"_ _2c\"> </span>sono registrati nel periodo in cui si verificano<span class=\"_ _0\"></span> nel conto economico tra le spese finanziarie.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__72": {
   "value": "2.7.17.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri e proventi finanzia<span class=\"_ _0\"></span>ri Gli oneri e proventi finanziari sono rilevati a conto <span class=\"_ _0\"></span>economico in base al principio della maturazione.<span class=\"_ _0\"></span> Se la <span class=\"_ _2b\"></span>produzio<span class=\"_ _0\"></span>ne di <span class=\"_ _2b\"></span>attivit\u00e0 immateriali <span class=\"_ _29\"></span>qualificate o <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> attivit\u00e0 <span class=\"_ _2b\"></span>materiali si protrae <span class=\"_ _2b\"></span>per un lungo <span class=\"_ _29\"></span>periodo, gli <span class=\"_ _2b\"></span>oneri <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>che <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>verificano <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>questo <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>fino al <span class=\"_ _2b\"></span>completamento <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>rilevati <span class=\"_ _2b\"></span>come <span class=\"_ _29\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>costi di <span class=\"_ _22\"></span>produzione <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _0\"></span>IAS <span class=\"_ _23\"></span>23. <span class=\"_ _22\"></span>Alla <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _23\"></span>non <span class=\"_ _0\"></span>vi <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>casi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>applicazione all'interno del Gruppo. Gli <span class=\"_ _0\"></span>oneri <span class=\"_ _0\"></span>finanziari <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>rilevati <span class=\"_ _0\"></span>fino <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>destinati <span class=\"_ _0\"></span>all'uso <span class=\"_ _0\"></span>previsto <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>essere registrati <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>ammortizzati <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>alla <span class=\"_ _2d\"> </span>loro <span class=\"_ _2d\"> </span>vita <span class=\"_ _2c\"> </span>utile <span class=\"_ _2d\"> </span>prevista. <span class=\"_ _2d\"> </span>Tutti <span class=\"_ _2c\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>altri <span class=\"_ _2c\"></span>oneri <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>correnti <span class=\"_ _2c\"> </span>sono registrati nel periodo in cui si verificano<span class=\"_ _0\"></span> nel conto economico tra le spese finanziarie.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__77": {
   "value": "2.7.18.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Utile (perdita) per azione<span class=\"_ _0\"></span> Per <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _29\"></span>(perdita) <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>e diluita <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>azione ordinaria <span class=\"_ _2b\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>stati <span class=\"_ _29\"></span>impiegati <span class=\"_ _2b\"></span>i seguenti <span class=\"_ _29\"></span>criteri:<span class=\"ff56\"> </span>a) <span class=\"_ _97\"> </span>al <span class=\"_ _2d\"> </span>numeratore <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>utilizzato <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>risultato <span class=\"_ _2d\"> </span>economico <span class=\"_ _2d\"> </span><span class=\"ff5d\">attribuibi<span class=\"_ _0\"></span>le <span class=\"_ _2d\"> </span>all\u2019entit\u00e0 <span class=\"_ _2d\"> </span>Capogruppo <span class=\"_ _2a\"> </span>rettificato <span class=\"_ _2d\"> </span>del </span>risultato che <span class=\"_ _29\"></span>deve ess<span class=\"_ _29\"></span>ere attribuito, <span class=\"_ _29\"></span>per l\u2019anno <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>corso, alle <span class=\"_ _29\"></span>azioni di <span class=\"_ _2b\"></span>risparmio in circolazione <span class=\"_ _29\"></span>al netto delle azioni proprie di risparmio detenute direttamente o <span class=\"_ _0\"></span>tramite controllate;<span class=\"_ _0\"></span> b)<span class=\"ff58 ls0\"> <span class=\"_ _8e\"> </span><span class=\"ff56\">al denomin<span class=\"_ _0\"></span>atore <span class=\"_ _0\"></span>d<span class=\"ff5d\">ell\u2019indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>azion<span class=\"_ _0\"></span>e\u201d <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>applicata <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>media <span class=\"_ _0\"></span>ponderata <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>in </span></span></span>circolazione nell\u2019esercizio al netto delle azioni p<span class=\"_ _0\"></span>roprie;<span class=\"ff56\"> </span>c)<span class=\"ff58 ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5d\">al <span class=\"_ _22\"></span>denominatore <span class=\"_ _0\"></span>dell\u2019<span class=\"_ _0\"></span>indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _22\"></span>diluito <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>azione\u201d <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>ponderata <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>ordinarie <span class=\"_ _22\"></span>\u00e8 </span></span>rettific<span class=\"ff5d\">ata ipotizzando l\u2019emissione di nuove azioni ord<span class=\"_ _0\"></span>inarie in seguito:<span class=\"_ _0\"></span></span> i)<span class=\"ff58 ls0\"> <span class=\"_ _86\"> </span><span class=\"ff56\">alla conversione di tutti i <span class=\"ff5a\">warrant</span> eventualmente in circolazion<span class=\"_ _0\"></span>e; </span></span>ii)<span class=\"ff58 ls0\"> <span class=\"_ _3b\"> </span><span class=\"ff5d\">all\u2019esercizio di tutte le <span class=\"ff5a\">stock optio<span class=\"_ _0\"></span>n<span class=\"ff56\"> eventualmente assegnate. </span></span></span></span>In detto <span class=\"_ _29\"></span>calcolo si <span class=\"_ _29\"></span>ipotizza che <span class=\"_ _2b\"></span>le conversioni dei <span class=\"ff5a\">warrant <span class=\"ff5d\">e <span class=\"_ _29\"></span>l\u2019esercizio delle <span class=\"_ _29\"></span><span class=\"ff5a\">stock option <span class=\"_ _29\"></span><span class=\"ff56\">siano avvenuti </span></span></span></span>all\u2019inizio dell\u2019esercizio e che non<span class=\"_ _0\"></span> vi siano maggiori proventi o minori oneri derivanti da questi accadimenti.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Il calcolo <span class=\"_ _2b\"></span>al 31 dicembre <span class=\"_ _2b\"></span>2<span class=\"_ _0\"></span>022 <span class=\"ff5d\">dell\u2019utile <span class=\"_ _29\"></span>base <span class=\"_ _29\"></span>per azione <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>stato effettuato <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>siderando il <span class=\"_ _29\"></span>ris<span class=\"ff56\">ultato netto </span></span>di Gruppo <span class=\"_ _29\"></span>al netto <span class=\"_ _2b\"></span>della quota spettante alle <span class=\"_ _2b\"></span>azioni di risparmio, <span class=\"_ _29\"></span>attribuibile ai <span class=\"_ _29\"></span>possessori di <span class=\"_ _29\"></span>azioni ordinarie <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span> circolazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>nu<span class=\"_ _0\"></span>mero <span class=\"_ _23\"></span>medio <span class=\"_ _23\"></span>ponderato <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>azioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>circolazione <span class=\"_ _28\"></span>pari <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>375.974.209 <span class=\"_ _23\"></span>tenendo <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>delle eventuali <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erazioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>frazionamento <span class=\"_ _2c\"></span>e/o <span class=\"_ _2d\"> </span>raggruppamento <span class=\"_ _2c\"></span>e <span class=\"_ _2c\"> </span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2c\"></span>eventuali <span class=\"_ _2d\"> </span>aumenti/riduzioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>capitale sociale ai sensi dello IAS 33 par. 64.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__76": {
   "value": "2.7.18.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Utile (perdita) per azione<span class=\"_ _0\"></span> Per <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _29\"></span>(perdita) <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>e diluita <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>azione ordinaria <span class=\"_ _2b\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>stati <span class=\"_ _29\"></span>impiegati <span class=\"_ _2b\"></span>i seguenti <span class=\"_ _29\"></span>criteri:<span class=\"ff56\"> </span>a) <span class=\"_ _97\"> </span>al <span class=\"_ _2d\"> </span>numeratore <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>utilizzato <span class=\"_ _2d\"> </span>il <span class=\"_ _2a\"> </span>risultato <span class=\"_ _2d\"> </span>economico <span class=\"_ _2d\"> </span><span class=\"ff5d\">attribuibi<span class=\"_ _0\"></span>le <span class=\"_ _2d\"> </span>all\u2019entit\u00e0 <span class=\"_ _2d\"> </span>Capogruppo <span class=\"_ _2a\"> </span>rettificato <span class=\"_ _2d\"> </span>del </span>risultato che <span class=\"_ _29\"></span>deve ess<span class=\"_ _29\"></span>ere attribuito, <span class=\"_ _29\"></span>per l\u2019anno <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>corso, alle <span class=\"_ _29\"></span>azioni di <span class=\"_ _2b\"></span>risparmio in circolazione <span class=\"_ _29\"></span>al netto delle azioni proprie di risparmio detenute direttamente o <span class=\"_ _0\"></span>tramite controllate;<span class=\"_ _0\"></span> b)<span class=\"ff58 ls0\"> <span class=\"_ _8e\"> </span><span class=\"ff56\">al denomin<span class=\"_ _0\"></span>atore <span class=\"_ _0\"></span>d<span class=\"ff5d\">ell\u2019indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>azion<span class=\"_ _0\"></span>e\u201d <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>applicata <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>media <span class=\"_ _0\"></span>ponderata <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>a<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>in </span></span></span>circolazione nell\u2019esercizio al netto delle azioni p<span class=\"_ _0\"></span>roprie;<span class=\"ff56\"> </span>c)<span class=\"ff58 ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5d\">al <span class=\"_ _22\"></span>denominatore <span class=\"_ _0\"></span>dell\u2019<span class=\"_ _0\"></span>indicatore <span class=\"_ _0\"></span>\u201cutile <span class=\"_ _22\"></span>diluito <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>azione\u201d <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>ponderata <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>ordinarie <span class=\"_ _22\"></span>\u00e8 </span></span>rettific<span class=\"ff5d\">ata ipotizzando l\u2019emissione di nuove azioni ord<span class=\"_ _0\"></span>inarie in seguito:<span class=\"_ _0\"></span></span> i)<span class=\"ff58 ls0\"> <span class=\"_ _86\"> </span><span class=\"ff56\">alla conversione di tutti i <span class=\"ff5a\">warrant</span> eventualmente in circolazion<span class=\"_ _0\"></span>e; </span></span>ii)<span class=\"ff58 ls0\"> <span class=\"_ _3b\"> </span><span class=\"ff5d\">all\u2019esercizio di tutte le <span class=\"ff5a\">stock optio<span class=\"_ _0\"></span>n<span class=\"ff56\"> eventualmente assegnate. </span></span></span></span>In detto <span class=\"_ _29\"></span>calcolo si <span class=\"_ _29\"></span>ipotizza che <span class=\"_ _2b\"></span>le conversioni dei <span class=\"ff5a\">warrant <span class=\"ff5d\">e <span class=\"_ _29\"></span>l\u2019esercizio delle <span class=\"_ _29\"></span><span class=\"ff5a\">stock option <span class=\"_ _29\"></span><span class=\"ff56\">siano avvenuti </span></span></span></span>all\u2019inizio dell\u2019esercizio e che non<span class=\"_ _0\"></span> vi siano maggiori proventi o minori oneri derivanti da questi accadimenti.<span class=\"_ _22\"></span><span class=\"ff56\"> </span>Il calcolo <span class=\"_ _2b\"></span>al 31 dicembre <span class=\"_ _2b\"></span>2<span class=\"_ _0\"></span>022 <span class=\"ff5d\">dell\u2019utile <span class=\"_ _29\"></span>base <span class=\"_ _29\"></span>per azione <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>stato effettuato <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>siderando il <span class=\"_ _29\"></span>ris<span class=\"ff56\">ultato netto </span></span>di Gruppo <span class=\"_ _29\"></span>al netto <span class=\"_ _2b\"></span>della quota spettante alle <span class=\"_ _2b\"></span>azioni di risparmio, <span class=\"_ _29\"></span>attribuibile ai <span class=\"_ _29\"></span>possessori di <span class=\"_ _29\"></span>azioni ordinarie <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span> circolazione <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>nu<span class=\"_ _0\"></span>mero <span class=\"_ _23\"></span>medio <span class=\"_ _23\"></span>ponderato <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>azioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>circolazione <span class=\"_ _28\"></span>pari <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>375.974.209 <span class=\"_ _23\"></span>tenendo <span class=\"_ _28\"></span>conto <span class=\"_ _23\"></span>delle eventuali <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erazioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>frazionamento <span class=\"_ _2c\"></span>e/o <span class=\"_ _2d\"> </span>raggruppamento <span class=\"_ _2c\"></span>e <span class=\"_ _2c\"> </span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2c\"></span>eventuali <span class=\"_ _2d\"> </span>aumenti/riduzioni <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>capitale sociale ai sensi dello IAS 33 par. 64.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__78": {
   "value": "2.7.19.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Conversione delle poste in va<span class=\"_ _0\"></span>luta estera La <span class=\"_ _2d\"> </span>moneta <span class=\"_ _2d\"> </span>funzionale <span class=\"_ _2d\"> </span>della <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>l\u2019Euro, <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>valuta <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>cui <span class=\"_ _2d\"> </span>viene <span class=\"_ _2d\"> </span>predis<span class=\"ff56\">posto <span class=\"_ _2d\"> </span>e </span>pubblicato <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>bilancio. <span class=\"_ _22\"></span>Le <span class=\"_ _22\"></span>transazioni <span class=\"_ _22\"></span>effettuate <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>val<span class=\"_ _0\"></span>uta <span class=\"_ _22\"></span>estera <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>rilevate <span class=\"_ _22\"></span>inizialmen<span class=\"_ _0\"></span>te <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>cambio alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>dell\u2019operazione. <span class=\"_ _22\"></span>Alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>chiusura <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>bilancio <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>pas<span class=\"_ _0\"></span>sivit\u00e0 <span class=\"_ _0\"></span>monetarie <span class=\"_ _22\"></span>denominate <span class=\"_ _22\"></span>in valuta <span class=\"_ _0\"></span>estera son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>convertite <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>di cambio <span class=\"_ _0\"></span>vi<span class=\"_ _0\"></span>gente a <span class=\"_ _0\"></span>tale <span class=\"_ _0\"></span>data. <span class=\"_ _0\"></span>Le <span class=\"_ _0\"></span>partite <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>monetarie <span class=\"_ _0\"></span>valutate <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>costo storico <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>valuta <span class=\"_ _0\"></span>estera <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>convertite <span class=\"_ _22\"></span>ut<span class=\"_ _0\"></span>ilizzando <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cambio <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>vigore <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _22\"></span>dell\u2019<span class=\"_ _0\"></span>operazione. <span class=\"_ _22\"></span>Le<span class=\"_ _0\"></span> partite <span class=\"_\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_\"> </span>monetarie <span class=\"_ _8b\"> </span>is<span class=\"_ _0\"></span>critte <span class=\"_\"> </span>al <span class=\"_ _2e\"> </span>fair <span class=\"_\"> </span>valu<span class=\"_ _0\"></span>e <span class=\"_\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_\"> </span>con<span class=\"_ _0\"></span>vertite <span class=\"_ _2e\"> </span>utilizzando <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span>tasso <span class=\"_ _2e\"> </span>di <span class=\"_ _8b\"> </span>cambio <span class=\"_ _8b\"> </span>alla <span class=\"_ _2e\"> </span>data <span class=\"_\"> </span>di determinazione del valore di bilancio<span class=\"_ _0\"></span>. Le <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>denominate <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>ta <span class=\"_ _23\"></span>estera <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>convertite <span class=\"_ _23\"></span>utilizzando <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>momento dell'operazione. <span class=\"_ _23\"></span>Il <span class=\"_ _22\"></span>momento <span class=\"_ _23\"></span>dell'operazione <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>determi<span class=\"_ _0\"></span>nazione <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>utilizzare <span class=\"_ _22\"></span>al<span class=\"_ _0\"></span> momento della <span class=\"_ _29\"></span>rilevazione iniziale <span class=\"_ _29\"></span>della relativa <span class=\"_ _29\"></span>attivit\u00e0, costo <span class=\"_ _29\"></span>o ricavo <span class=\"_ _29\"></span>(o parte <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>esso) \u00e8 <span class=\"_ _2b\"></span>la data in cui <span class=\"_ _29\"></span>l'entit\u00e0 rileva inizialmente <span class=\"_ _2b\"></span>l'attivit\u00e0 non moneta<span class=\"_ _29\"></span>ria o <span class=\"_ _2b\"></span>la passivit\u00e0 <span class=\"_ _29\"></span>non monetaria <span class=\"_ _2b\"></span>derivante dal pagamento o <span class=\"_ _2b\"></span>dall'incasso<span class=\"_ _0\"></span> di <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>anticipato. <span class=\"_ _22\"></span>Di <span class=\"_ _23\"></span>conseguenza, <span class=\"_ _23\"></span>tali <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>monetarie <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>convertite <span class=\"_ _22\"></span>al tasso di cambio di una successiva data di b<span class=\"_ _0\"></span>ilancio. Nel caso di anticipi ricevuti per la vendita <span class=\"_ _29\"></span>di beni, questa transazione viene registrata per la prima volta come pa<span class=\"_ _0\"></span>ssivit\u00e0 <span class=\"_ _0\"></span>contrattuale <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>momento <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>ven<span class=\"_ _0\"></span>gono <span class=\"_ _0\"></span>ricevuti <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>anticipi. <span class=\"_ _0\"></span>Il <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cambio <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>l'impo<span class=\"_ _0\"></span>rto della <span class=\"_ _2d\"> </span>successiva <span class=\"_ _2d\"> </span>rilevazione <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>ricavi <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>l'ammont<span class=\"_ _0\"></span>are <span class=\"_ _2d\"> </span>dell'anticipo <span class=\"_ _2d\"> </span>ricevuto <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>quindi <span class=\"_ _2c\"></span>gi\u00e0 <span class=\"_ _2d\"> </span>determinato <span class=\"_ _2d\"> </span>al momento della rilevazione della passivit\u00e0 contrattuale.<span class=\"_ _0\"></span> Le voci <span class=\"_ _2b\"></span>monetarie (compresi i <span class=\"_ _29\"></span>crediti <span class=\"_ _29\"></span>e i <span class=\"_ _2b\"></span>debiti commerciali) sono <span class=\"_ _29\"></span>convertite al <span class=\"_ _2b\"></span>tasso di cambio <span class=\"_ _2b\"></span>corrente<span class=\"_ _0\"></span> alla <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>bilancio.<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>In<span class=\"_ _0\"></span>dipendentemente <span class=\"_ _28\"></span>da <span class=\"_ _23\"></span>eventuali <span class=\"_ _28\"></span>coperture <span class=\"_ _28\"></span>valutarie, <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>uti<span class=\"_ _22\"></span>li <span class=\"_ _23\"></span>o <span class=\"_ _28\"></span>le <span class=\"_ _28\"></span>perdite derivanti <span class=\"_ _29\"></span>dalla <span class=\"_ _2b\"></span>rimisura<span class=\"_ _0\"></span>zione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 monetarie <span class=\"_ _2b\"></span>(esclusa la <span class=\"_ _2b\"></span>conversione in <span class=\"_ _2b\"></span>valuta <span class=\"_ _29\"></span>estera <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>gli <span class=\"_ _29\"></span>investimenti netti) e delle passivit\u00e0 monetarie sono rilevati nel con<span class=\"_ _0\"></span>to economico come proventi o o<span class=\"_ _0\"></span>neri finanziari.<span class=\"_ _0\"></span> Applicando <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>concetto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valuta <span class=\"_ _23\"></span>funzionale, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>bilanci <span class=\"_ _23\"></span>annuali <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>controllate <span class=\"_ _23\"></span>estere <span class=\"_ _23\"></span>redatti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>valuta estera sono convertiti in euro utilizzando il metod<span class=\"_ _0\"></span>o del tasso di chiusura modificato.<span class=\"_ _0\"></span> La <span class=\"_ _2c\"></span>valuta <span class=\"_ _2c\"></span>funzionale <span class=\"_ _2c\"> </span>\u00e8 <span class=\"_ _2d\"> </span>determinata <span class=\"_ _28\"></span>dall'ambient<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>economico <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>imario <span class=\"_ _2c\"></span>in <span class=\"_ _2c\"></span>cui <span class=\"_ _2c\"> </span>l'entit\u00e0 <span class=\"_ _2c\"> </span>o<span class=\"_ _22\"></span>pera. <span class=\"_ _2c\"></span>Tutte <span class=\"_ _2c\"></span>le controllate <span class=\"_ _2b\"></span>svolgono <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>propria <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>modo <span class=\"_ _2b\"></span>indipendente <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>rispettivi <span class=\"_ _2b\"></span>mercati <span class=\"_ _2b\"></span>nazionali.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Pertanto, <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valuta funzionale di <span class=\"_ _0\"></span>tali entit\u00e0 <span class=\"_ _0\"></span>\u00e8 la <span class=\"_ _0\"></span>valuta lo<span class=\"_ _0\"></span>cale. Le attiv<span class=\"_ _0\"></span>it\u00e0 e le <span class=\"_ _0\"></span>passivit\u00e0 delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>convertite al tasso <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> cambio di <span class=\"_ _29\"></span>chiusura alla <span class=\"_ _2b\"></span>data di chiusura <span class=\"_ _29\"></span>del bilancio, <span class=\"_ _2b\"></span>mentre i ricavi <span class=\"_ _29\"></span>e i <span class=\"_ _2b\"></span>costi sono convertiti <span class=\"_ _29\"></span>al tasso <span class=\"_ _2b\"></span>di cambio medio <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>periodo <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>riferimento. <span class=\"_ _2b\"></span>Le <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span>fferenze <span class=\"_ _2b\"></span>derivanti <span class=\"_ _2b\"></span>da <span class=\"_ _2b\"></span>tali <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>versioni <span class=\"_ _2b\"></span>applicate <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>attivit\u00e0, <span class=\"_ _2b\"></span>alle <span class=\"_ _2b\"></span>passiv<span class=\"_ _0\"></span>it\u00e0 e <span class=\"_\"> </span>alle <span class=\"_ _8b\"> </span>compo<span class=\"_ _0\"></span>nenti <span class=\"_\"> </span>dell'utile<span class=\"_ _0\"></span> <span class=\"_ _8b\"> </span>netto <span class=\"_ _8b\"> </span>sono <span class=\"_ _8b\"> </span>riportate <span class=\"_ _2e\"> </span>separatamente <span class=\"_ _8b\"> </span>nel <span class=\"_ _2e\"> </span>conto <span class=\"_ _8b\"> </span>economico <span class=\"_ _8b\"> </span>complessivo<span class=\"_ _0\"></span> <span class=\"_\"> </span><span class=\"ls3\">e <span class=\"_ _2e\"> </span></span>di conseguenza <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>hanno <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>impatto <span class=\"_ _22\"></span>sull'utile <span class=\"_ _0\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019esercizio<span class=\"_ _0\"></span></span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _22\"></span>differenze <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>rilevate <span class=\"_ _0\"></span>nell'utile <span class=\"_ _0\"></span>netto al momento della realizzazione<span class=\"_ _0\"></span>. 2.7.20.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Contributi pubblici I contributi pubblici sono <span class=\"_ _29\"></span>riconosciuti solo <span class=\"_ _29\"></span>se \u00e8 <span class=\"_ _29\"></span>ragionevolmente certo che siano rispettate le <span class=\"_ _29\"></span>condizioni e che i contributi s<span class=\"ls9\">ia<span class=\"ls1\">no </span></span>effettivamente ricevuti. I cont<span class=\"_ _0\"></span>ributi sono rilevati nell'utile netto nello stesso periodo in cui vengono rilevati i rispettivi costi<span class=\"_ _0\"></span>.  I <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>tributi <span class=\"_ _23\"></span>pubblici <span class=\"_ _22\"></span>relativi <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>attivit\u00e0, <span class=\"_ _22\"></span>principalmente <span class=\"_ _23\"></span>immobili, <span class=\"_ _23\"></span>impianti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>macchinari, <span class=\"_ _22\"></span>so<span class=\"_ _0\"></span>no <span class=\"_ _23\"></span>dedotti dal costo dell'attivit\u00e0. Le sovvenzioni <span class=\"_ _0\"></span>che diventano <span class=\"_ _0\"></span>esigibili a titolo <span class=\"_ _0\"></span>di compensazione <span class=\"_ _0\"></span>di spese <span class=\"_ _0\"></span>o perdite gi\u00e0 <span class=\"_ _0\"></span>sostenute o <span class=\"_ _0\"></span>allo scopo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>fornire <span class=\"_ _0\"></span>un <span class=\"_ _22\"></span>sostegno <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>anziario <span class=\"_ _0\"></span>immediato <span class=\"_ _22\"></span>senza <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>futuri <span class=\"_ _0\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>contabilizzate <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>proventi operativi nel periodo in cui diventano esigibili per <span class=\"_ _0\"></span>il Gruppo<span class=\"_ _0\"></span>. 2.8.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Uso delle stime La <span class=\"_ _22\"></span>redazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>bilancio <span class=\"_ _22\"></span>consolidato<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>relative <span class=\"_ _22\"></span>note <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>applicazione <span class=\"_ _23\"></span>agli <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>richiede<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>parte degli <span class=\"_ _28\"> </span>Amministratori <span class=\"_ _2c\"> </span>l\u2019effettuazione <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>stime <span class=\"_ _28\"></span>e <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>assunzioni <span class=\"_ _28\"> </span>che <span class=\"_ _2c\"> </span>influenzino <span class=\"_ _2c\"> </span>i <span class=\"_ _28\"> </span>valo<span class=\"_ _0\"></span>ri <span class=\"_ _28\"></span>delle <span class=\"_ _2c\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>dell<span class=\"_ _0\"></span>e passivit\u00e0 di bilancio.  Le stime<span class=\"_ _29\"></span> sono <span class=\"_ _2b\"></span>state utilizzate <span class=\"_ _29\"></span>principalmente per <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>determinazione<span class=\"_ _0\"></span> delle <span class=\"_ _2b\"></span>perdite di valore, <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> </span></span>delle <span class=\"_ _3b\"> </span>partecipazioni <span class=\"_ _3b\"> </span>valutate <span class=\"_ _3b\"> </span>al <span class=\"_ _3b\"> </span><span class=\"ff5a\">fair <span class=\"_ _3b\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _3b\"> </span>e <span class=\"_ _3b\"> </span>degli <span class=\"_ _3b\"> </span>investimenti <span class=\"_ _3b\"> </span>immobiliari, <span class=\"_ _3b\"> </span>delle <span class=\"_ _3b\"> </span>vite <span class=\"_ _3b\"> </span>utili <span class=\"_ _3b\"> </span>delle immobilizzazioni <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>relativo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5d\">(incluso <span class=\"_ _22\"></span>l\u2019avviamento <span class=\"_ _22\"></span>iscritto)<span class=\"_ _0\"></span></span>, <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>accantonamenti <span class=\"_ _22\"></span>per rischi <span class=\"_ _23\"></span>su <span class=\"_ _22\"></span>cred<span class=\"_ _0\"></span>iti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>scorte, <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valore, <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>connessi <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>dipendenti, della stima del carico di imposta corrente e differito e d<span class=\"_ _0\"></span>egli accantonamenti e fondi.<span class=\"_ _0\"></span>  C<span class=\"ff5d\">on <span class=\"_ _23\"></span>riferimento <span class=\"_ _28\"></span>all\u2019Avviamento, <span class=\"_ _23\"></span>i<span class=\"_ _0\"></span></span>l <span class=\"_ _23\"></span>valore <span class=\"_ _28\"></span>recuperabile <span class=\"_ _23\"></span>viene <span class=\"_ _28\"></span>generalmente <span class=\"_ _28\"></span>determinato <span class=\"_ _23\"></span>utilizzando <span class=\"_ _28\"></span><span class=\"ls9\">i </span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _0\"></span>(attualizzati)<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>dipendono <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>larga <span class=\"_ _22\"></span>misura <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>futura <span class=\"_ _22\"></span>attesa <span class=\"_ _23\"></span>(margini <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>profitto lordo <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>fatturato) <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>tengono <span class=\"_ _29\"></span>altres\u00ec <span class=\"_ _2b\"></span>conto <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>economico <span class=\"_ _2b\"></span>gen<span class=\"_ _0\"></span>erale <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>tassi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>futu<span class=\"_ _0\"></span>ri (tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto). <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto, <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>basano <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">Capital <span class=\"_ _23\"></span>Asset <span class=\"_ _22\"></span>Pricing <span class=\"_ _23\"></span>Model</span>, <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>calcolati <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>ba<span class=\"_ _0\"></span>se delle seguenti componenti: tasso di rendimento privo di rischio, fatt<span class=\"_ _29\"></span>ore Beta e rendimento del <span class=\"_ _29\"></span>capitale proprio (che include ipotesi sulla leva finanziari<span class=\"_ _0\"></span>a e sul premio per il rischio di mercato<span class=\"_ _0\"></span>). Le <span class=\"_ _2b\"></span>rimanenze <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>magazzino, <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>valutate <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>minore <span class=\"_ _2b\"></span>tra <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>costo <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>netto <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>realizzo. <span class=\"_ _2b\"></span>Per <span class=\"_ _2b\"></span>calcolare il valore netto di realizzo, vengono <span class=\"_ _0\"></span>stima<span class=\"ls9\">ti</span> i prezzi di vendita e i costi di<span class=\"_ _0\"></span> vendita. Il Gruppo, in <span class=\"_ _29\"></span>particolar modo mediante <span class=\"_ _2b\"></span>KME SE, opera in diversi <span class=\"_ _29\"></span>Paesi. Pertanto, il <span class=\"_ _29\"></span>reddito del<span class=\"_ _29\"></span> Gruppo \u00e8 <span class=\"_ _23\"></span>soggetto <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>diverse <span class=\"_ _23\"></span>giurisdizioni <span class=\"_ _22\"></span>fiscali; <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _23\"></span>imponibile, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fiscali, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>fisc<span class=\"_ _0\"></span>ali, <span class=\"_ _23\"></span>le differenze temporanee, le<span class=\"_ _0\"></span> perdite <span class=\"_ _0\"></span>fiscali e le <span class=\"_ _0\"></span>conseguenti imposte <span class=\"_ _0\"></span>differite sono <span class=\"_ _0\"></span>calcolate individualmente per<span class=\"_ _0\"></span> ciascuna <span class=\"_ _28\"></span>entit\u00e0. <span class=\"_ _2c\"></span>Tali <span class=\"_ _28\"></span>po<span class=\"_ _0\"></span>ste <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"></span>soggette <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>stima; <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>particolare, <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _2c\"></span>attive <span class=\"_ _2c\"></span>possono <span class=\"_ _2c\"></span>essere iscritte solo nella <span class=\"_ _0\"></span>misura in<span class=\"_ _0\"></span> cui sia <span class=\"_ _0\"></span>probabile il <span class=\"_ _0\"></span>loro effettivo realizzo<span class=\"_ _0\"></span> e la realizza<span class=\"_ _0\"></span>zione delle i<span class=\"_ _0\"></span>mposte differite dipende <span class=\"_ _23\"></span>quindi <span class=\"_ _28\"></span>dall'esistenza <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sufficie<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>utili <span class=\"_ _28\"></span>imponibili <span class=\"_ _23\"></span>futuri. <span class=\"_ _23\"></span>Nel <span class=\"_ _28\"></span>valutare <span class=\"_ _23\"></span>l'esistenza <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>sufficienti <span class=\"_ _23\"></span>ut<span class=\"_ _0\"></span>ili imponibili <span class=\"_ _22\"></span>futuri, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>considerati, <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>g<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>fatto<span class=\"_ _0\"></span>ri, <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>utili <span class=\"_ _22\"></span>storici, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>bilanci, <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>limitazion<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>riporto <span class=\"_ _22\"></span>delle perdite e <span class=\"_ _2b\"></span>le strategie di <span class=\"_ _2b\"></span>pianificazione fiscale. <span class=\"_ _29\"></span>A ogni <span class=\"_ _2b\"></span>data di chiusura <span class=\"_ _2b\"></span>del bilancio, la <span class=\"_ _2b\"></span>rilevazione delle imposte differite viene nuovamente sottoposta a valutazion<span class=\"_ _0\"></span>e. I <span class=\"_ _22\"></span>fondi <span class=\"_ _22\"></span>pen<span class=\"_ _0\"></span>sione <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>contabilizzati <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>metodi <span class=\"_ _23\"></span>attuariali. <span class=\"_ _0\"></span>Le <span class=\"_ _23\"></span>ipotesi <span class=\"_ _22\"></span>attuariali <span class=\"_ _22\"></span>comprendono <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>tassi <span class=\"_ _22\"></span>di sconto, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>mortalit\u00e0 <span class=\"_ _23\"></span>e, <span class=\"_ _22\"></span>laddove <span class=\"_ _23\"></span>valutati <span class=\"_ _22\"></span>applicabili<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rendimenti <span class=\"_ _23\"></span>attesi <span class=\"_ _22\"></span>sulle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>piano. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>valori effettivi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>tali <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>differire <span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ificativamente <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>previsti <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>causa <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>variazioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. Pertanto, gli scostamenti rispetto alle <span class=\"_ _29\"></span>previsioni possono avere <span class=\"_ _29\"></span>un impatto significativo sulle <span class=\"_ _29\"></span>passivit\u00e0 relative ai benefici ai dipendenti.  Inoltre, gli <span class=\"_ _29\"></span>accantonamenti iscritti <span class=\"_ _29\"></span>a bilancio <span class=\"_ _29\"></span>comprendono la <span class=\"_ _29\"></span>valutazione dei <span class=\"_ _29\"></span>fatti e <span class=\"_ _2b\"></span>delle circostanze, le richieste <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>risarcimento <span class=\"_ _2a\"> </span>sollevate <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>stime <span class=\"_ _2a\"> </span>della <span class=\"_ _2d\"> </span>gamma <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>potenziali <span class=\"_ _2a\"> </span>importi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>liquidazione <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>della probabilit\u00e0 di accadimento. Alcuni <span class=\"_ _0\"></span>principi <span class=\"_ _0\"></span>contabili <span class=\"_ _0\"></span>adottati <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>richiedono<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>per le <span class=\"_ _0\"></span>attivit\u00e0 e <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>finanziarie. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinare <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>fair <span class=\"_ _22\"></span>value <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>e non <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _2c\"></span>utilizza, <span class=\"_ _2c\"></span>ove <span class=\"_ _28\"></span>possibile, <span class=\"_ _2c\"></span>input <span class=\"_ _28\"></span>osservab<span class=\"_ _0\"></span>ili <span class=\"_ _28\"></span>sul <span class=\"_ _2c\"></span>mercato. <span class=\"_ _2c\"></span>In <span class=\"_ _28\"></span>bas<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fattori <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>input utilizzati <span class=\"_ _29\"></span>nelle <span class=\"_ _29\"></span>tecniche <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>valutazione, <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>classifi<span class=\"_ _0\"></span>cato <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>diversi <span class=\"_ _29\"></span>livelli <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>gerarchia <span class=\"_ _2b\"></span>del fair <span class=\"_ _29\"></span>value. </span></span>\u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 1: prezzi quotati (non rettificati) in mercati attivi<span class=\"_ _0\"></span>; </span></span>\u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello <span class=\"_ _0\"></span>2: <span class=\"_ _22\"></span>parametri <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>quotati <span class=\"_ _22\"></span>considerati <span class=\"_ _0\"></span>nel <span class=\"_ _22\"></span>Livello <span class=\"_ _22\"></span>1, <span class=\"_ _0\"></span>ma <span class=\"_ _22\"></span>che </span></span>tuttavia richiedo<span class=\"_ _0\"></span>no di<span class=\"_ _0\"></span> essere <span class=\"_ _0\"></span>osservati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o de<span class=\"_ _0\"></span>biti <span class=\"_ _0\"></span>simili, direttamen<span class=\"_ _0\"></span>te (cio\u00e8 <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span>prezzi) <span class=\"_ _0\"></span>o indirettamente (cio\u00e8 derivati dai prezz<span class=\"ls9\">i);</span> \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 3: parametri di valutazione di attivit\u00e0 o debiti n<span class=\"_ _0\"></span>on basati su input di mercato osservabili.<span class=\"_ _0\"></span> </span></span>Le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>iscritte <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Bilancio <span class=\"_ _23\"></span>Consolidato<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>basate <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>storico, <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>eccezione degli strumenti <span class=\"_ _2b\"></span>finanziari derivati, <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>partecipazioni <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>altre <span class=\"_ _2b\"></span>imprese, dei <span class=\"ff5d\">\u201c</span>corrispettivi <span class=\"_ _2b\"></span>potenziali<span class=\"ff5d\">\u201d (</span>IFRS <span class=\"_ _29\"></span>3), degli <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span>vestimenti <span class=\"_ _28\"></span>immobiliari <span class=\"_ _2c\"></span>che <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>valutati <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span><span class=\"lsb\">, <span class=\"_ _2c\"></span></span><span class=\"ff5d\">degli <span class=\"_ _2c\"> </span>oneri <span class=\"_ _2c\"> </span>attuariali <span class=\"_ _28\"></span>derivanti <span class=\"_ _2c\"> </span>dall\u2019IFRS <span class=\"_ _2c\"> </span>2,<span class=\"_ _0\"></span> </span>nonch\u00e9 <span class=\"_ _2e\"> </span>dell'indebitamento <span class=\"_ _2e\"> </span>netto <span class=\"_ _8b\"> </span>derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>piani <span class=\"_ _8b\"> </span>a <span class=\"_ _2e\"> </span>benefici <span class=\"_ _2e\"> </span>definiti <span class=\"_ _2e\"> </span>che <span class=\"_ _8b\"> </span>\u00e8 <span class=\"_ _2e\"> </span>valutato <span class=\"_ _2e\"> </span>al <span class=\"_ _8b\"> </span>valore <span class=\"_ _2e\"> </span>attuale dell'obbligazione a benefici defini<span class=\"_ _0\"></span>ti meno il <span class=\"ff5a\">fair value</span> delle attivit\u00e0 a servizio<span class=\"_ _0\"></span> del piano. Le stime <span class=\"_ _2b\"></span>ed assunzioni sono riviste periodicam<span class=\"_ _29\"></span>ente ed eventuali <span class=\"_ _29\"></span>effetti saranno <span class=\"_ _29\"></span>riflessi immediatamente a <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>to <span class=\"_ _23\"></span>economico. <span class=\"_ _22\"></span>Alla <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>riferimento <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>presente <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>Amministr<span class=\"_ _0\"></span>atori <span class=\"_ _23\"></span>ritengono, comunque, <span class=\"_ _2f\"> </span>che <span class=\"_ _2e\"> </span>le <span class=\"_ _2f\"> </span>stime <span class=\"_ _2e\"> </span>e <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>assunzioni <span class=\"_ _2f\"> </span>utilizzate <span class=\"_ _2f\"> </span>riflettano <span class=\"_ _2e\"> </span>la <span class=\"_ _2f\"> </span>migliore <span class=\"_ _2e\"> </span>valutazione <span class=\"_ _2f\"> </span>possibile <span class=\"_ _2f\"> </span>date <span class=\"_ _2e\"> </span>le informazioni <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span>sponibili. <span class=\"_ _2d\"> </span>Gli <span class=\"_ _2a\"> </span>Amministratori <span class=\"_ _2d\"> </span>riten<span class=\"_ _0\"></span>gono <span class=\"_ _2a\"> </span>inoltre <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>stime <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>assunzioni <span class=\"_ _2a\"> </span>adottate <span class=\"_ _2d\"> </span>non comportino rettifiche materiali ai v<span class=\"_ _0\"></span>alori contabili delle attivit\u00e0 e passivit\u00e0.<span class=\"_ _0\"></span> 2.9.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Principi contabili di nuova applicazione<span class=\"_ _0\"></span> I principi contabili applicati a partire dal 1 g<span class=\"_ _0\"></span>ennaio 2022 sono i seguenti:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In data 14 maggio 2020 lo IASB ha pubblicato i seguenti emendamenti d<span class=\"_ _0\"></span>enominati:<span class=\"_ _0\"></span> </span></span>-<span class=\"ff58\"> <span class=\"_ _ae\"> </span><span class=\"ff5a\">Amendments <span class=\"_ _28\"></span>to <span class=\"_ _23\"></span>IFRS <span class=\"_ _28\"></span>3 <span class=\"_ _23\"></span>Business <span class=\"_ _23\"></span>Comb<span class=\"_ _0\"></span>inations<span class=\"_ _0\"></span></span></span>: <span class=\"_ _23\"></span>le <span class=\"_ _28\"></span>modifiche <span class=\"_ _23\"></span>hanno <span class=\"_ _23\"></span>lo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>scopo <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>aggiornare <span class=\"_ _23\"></span>il riferimento <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>nell\u2019IFRS <span class=\"_ _0\"></span>3 <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>Conceptual <span class=\"_ _0\"></span>Framework <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>versione <span class=\"_ _0\"></span>rivista, <span class=\"_ _0\"></span>senza <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>ci\u00f2 comporti modifiche alle disposizioni del principio<span class=\"_ _0\"></span>. -<span class=\"ff58\"> <span class=\"_ _ae\"> </span><span class=\"ff5a\">Amendments <span class=\"_ _2c\"></span>to <span class=\"_ _28\"></span>IAS <span class=\"_ _2c\"></span>16 <span class=\"_ _28\"></span>Property<span class=\"_ _0\"></span>, <span class=\"_ _28\"></span>Plant <span class=\"_ _2c\"></span>and <span class=\"_ _28\"></span>Equipment<span class=\"_ _0\"></span></span></span>: <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>modifiche <span class=\"_ _28\"></span>hanno <span class=\"_ _2c\"></span>lo <span class=\"_ _28\"></span>scopo <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>non consentire la ded<span class=\"_ _0\"></span>uzione dal costo <span class=\"_ _0\"></span>delle attivit\u00e0 materiali <span class=\"_ _0\"></span>l\u2019importo ricevuto <span class=\"_ _0\"></span>dalla vendita di <span class=\"_ _0\"></span>beni prodotti <span class=\"_ _2c\"> </span>nella <span class=\"_ _2d\"> </span>fase <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>test <span class=\"_ _2c\"> </span>dell\u2019attivit\u00e0 <span class=\"_ _2c\"> </span>stessa. <span class=\"_ _2d\"> </span>Tali <span class=\"_ _28\"> </span>ri<span class=\"_ _0\"></span>cavi <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>vendita <span class=\"_ _28\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2c\"> </span>relativi <span class=\"_ _2c\"> </span>costi <span class=\"_ _2d\"> </span>sarann<span class=\"_ _0\"></span><span class=\"ff56 lsf\">o </span>pertanto rilevati nel conto economico.<span class=\"_ _0\"></span> - <span class=\"_ _ae\"> </span>Amendments to <span class=\"_ _2b\"></span>IAS <span class=\"_ _2b\"></span>37 <span class=\"_ _2b\"></span>Provisions, <span class=\"_ _2b\"></span>Contingen<span class=\"_ _0\"></span>t <span class=\"_ _2b\"></span>Liabilities <span class=\"_ _2b\"></span>and <span class=\"_ _29\"></span>Contingent <span class=\"_ _2b\"></span>Assets<span class=\"_ _0\"></span><span class=\"ff5d\">: <span class=\"_ _2b\"></span>l\u2019emendamento </span>chiarisce <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>nella <span class=\"_ _23\"></span>stima <span class=\"_ _23\"></span>sul<span class=\"_ _0\"></span>l\u2019eventuale <span class=\"_ _23\"></span>onerosit\u00e0 <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _28\"></span>contratto <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>devono <span class=\"_ _28\"></span>considerare <span class=\"_ _23\"></span>tutti <span class=\"_ _28\"></span>i costi <span class=\"_ _41\"> </span><span class=\"ff5d\">direttamente <span class=\"_ _3c\"> </span>imputabili <span class=\"_ _3c\"> </span>al <span class=\"_ _41\"> </span>contratto<span class=\"_ _0\"></span>. <span class=\"_ _41\"> </span>Di <span class=\"_ _3c\"> </span>conseguenza, <span class=\"_ _3c\"> </span>la <span class=\"_ _41\"> </span>valutazione <span class=\"_ _3c\"> </span>sull\u2019eventuale </span>onerosit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>contratto <span class=\"_ _28\"></span>include <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>solo <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>incrementali <span class=\"_ _23\"></span>(c<span class=\"_ _0\"></span>ome <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>esempio, <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>del materiale <span class=\"_ _2c\"> </span>diretto <span class=\"_ _2d\"> </span>impiegato <span class=\"_ _2c\"> </span>nella <span class=\"_ _2d\"> </span>lavorazione), <span class=\"_ _2c\"> </span>ma <span class=\"_ _2c\"> </span>anche <span class=\"_ _2d\"> </span>tutti <span class=\"_ _2c\"> </span>i <span class=\"_ _2c\"> </span>costi <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>l\u2019<span class=\"_ _0\"></span><span class=\"ff56\">impresa <span class=\"_ _2c\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2c\"> </span>pu\u00f2 </span>evitare <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>quanto <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>stipulato <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>contratto <span class=\"_ _23\"></span>(come, <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>esempio, <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>quota <span class=\"_ _28\"></span>dell'ammortamento <span class=\"_ _23\"></span>dei macchinari impiegati per l'adempimento del con<span class=\"_ _0\"></span>tratto). -<span class=\"ff58\"> <span class=\"_ _ae\"> </span><span class=\"ff5a\">Annu<span class=\"_ _0\"></span>al <span class=\"_\"> </span>Improvements <span class=\"_\"> </span>2018<span class=\"_ _0\"></span>-2020</span></span>: <span class=\"_\"> </span>le <span class=\"_\"> </span>modifiche <span class=\"_ _8b\"> </span>sono <span class=\"_ _8b\"> </span>state <span class=\"_\"> </span>apportate <span class=\"_ _8b\"> </span>all<span class=\"_ _0\"></span><span class=\"ff5d\">\u2019<span class=\"ff5a\">IFRS <span class=\"_\"> </span>1 <span class=\"_\"> </span>First<span class=\"_ _0\"></span>-time </span></span>Adoption <span class=\"_ _29\"></span>of <span class=\"_ _2b\"></span>Internatio<span class=\"_ _0\"></span>nal <span class=\"_ _2b\"></span>Fin<span class=\"_ _0\"></span>ancial <span class=\"_ _29\"></span>Reporting <span class=\"_ _2b\"></span>Standards<span class=\"_ _0\"></span><span class=\"ff5d\">, all\u2019</span>IFRS <span class=\"_ _2b\"></span>9 <span class=\"_ _29\"></span>Financial <span class=\"_ _29\"></span>Instruments<span class=\"ff56\">, <span class=\"_ _29\"></span>allo </span>IAS 41 Agriculture<span class=\"ff56\"> e agli </span>Illustrative Ex<span class=\"_ _0\"></span>amples<span class=\"ff56\"> <span class=\"ff5d\">dell\u2019</span></span>IFRS 1<span class=\"_ _0\"></span>6 Leases<span class=\"ff56\">. </span>2.10.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Principi contabili non ancora applicati I seguenti <span class=\"_ _2b\"></span>prin<span class=\"_ _0\"></span>cipi contabili, <span class=\"_ _2b\"></span>emendame<span class=\"_ _0\"></span>nti ed <span class=\"_ _2b\"></span>interpret<span class=\"_ _0\"></span><span class=\"ff5d\">azioni IFRS <span class=\"_ _29\"></span>omologati dall\u2019Unione <span class=\"_ _2b\"></span>Eu<span class=\"_ _0\"></span>ropea, non </span>ancora <span class=\"_ _2b\"></span>obbligatoriamente applicabili <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>sono <span class=\"_ _29\"></span>stati <span class=\"_ _2b\"></span>adottati <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>via <span class=\"_ _2b\"></span>anticipata <span class=\"_ _29\"></span>dalla <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 <span class=\"_ _29\"></span>dicembre <span class=\"_ _2b\"></span>2022:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>18 <span class=\"_ _22\"></span>maggio <span class=\"_ _23\"></span>2017 <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>ubblicato <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>principio <span class=\"_ _23\"></span><span class=\"ff5a\">IFRS <span class=\"_ _23\"></span>17 <span class=\"_ _22\"></span><span class=\"ff5e\">\u2013</span> <span class=\"_ _23\"></span>Insurance <span class=\"_ _22\"></span>Contracts</span> <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>\u00e8<span class=\"_ _0\"></span> </span></span>destinato <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>sostituire <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>principio <span class=\"_ _23\"></span><span class=\"ff5a\">IFRS <span class=\"_ _22\"></span>4 <span class=\"_ _23\"></span><span class=\"ff5e\">\u2013</span> <span class=\"_ _22\"></span>Insurance <span class=\"_ _22\"></span>Contracts<span class=\"_ _0\"></span></span>. <span class=\"_ _22\"></span>L'obiettiv<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>nu<span class=\"_ _0\"></span>ovo <span class=\"_ _22\"></span>principio <span class=\"_ _23\"></span>\u00e8 quello <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>garantire <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>un'entit\u00e0 <span class=\"_ _28\"></span>fornisca <span class=\"_ _28\"></span>informazioni <span class=\"_ _28\"></span>pertin<span class=\"_ _0\"></span>enti <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>rappresen<span class=\"_ _0\"></span>tano <span class=\"_ _28\"></span>fedelmente <span class=\"_ _28\"></span>i diritti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>obblighi <span class=\"_ _23\"></span>derivanti <span class=\"_ _0\"></span>dai <span class=\"_ _23\"></span>contratti <span class=\"_ _0\"></span>assicurativi<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>emessi. <span class=\"_ _22\"></span>Lo <span class=\"_ _22\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _0\"></span>svilup<span class=\"_ _0\"></span>pato <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>standard per <span class=\"_ _29\"></span>eliminare <span class=\"_ _29\"></span>incongruenze <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>deb<span class=\"_ _0\"></span>olezze <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>politiche <span class=\"_ _29\"></span>contabili <span class=\"_ _29\"></span>esistenti, <span class=\"_ _29\"></span>fornendo <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>quadro unico principle-based<span class=\"ff56\"> <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"></span>tenere <span class=\"_ _2c\"></span>conto <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>tutti <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"></span>tipi <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>contratti <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>assicurazione, <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span>clusi <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>contratti <span class=\"_ _2c\"></span>di </span>riassicurazione che un assicuratore detiene.<span class=\"_ _0\"></span> Considerata <span class=\"_ _23\"></span>l\u2019attivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo, <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>amministratori <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>attendono <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>effetto <span class=\"_ _23\"></span>significativo <span class=\"_ _23\"></span>nel bilancio consolidato dall<span class=\"ff5d\">\u2019adozione di questo prin<span class=\"_ _0\"></span>cipio.</span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _23\"></span>data <span class=\"_ _28\"></span>9 <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _23\"></span>2021, <span class=\"_ _28\"></span>lo <span class=\"_ _28\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _28\"></span>pubblicato <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>emendament<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>denominato <span class=\"_ _28\"></span><span class=\"ff5e\">\u201cAmendmen<span class=\"_ _0\"></span>ts <span class=\"_ _23\"></span>to </span></span></span>IFRS <span class=\"_ _41\"> </span>17 <span class=\"_ _41\"> </span>Insurance <span class=\"_ _3c\"> </span>contracts: <span class=\"_ _41\"> </span>Initial <span class=\"_ _41\"> </span>Application <span class=\"_ _3c\"> </span>of <span class=\"_ _41\"> </span>IFRS <span class=\"_ _41\"> </span>17 <span class=\"_ _41\"> </span>and <span class=\"_ _3c\"> </span>IFRS <span class=\"_ _2f\"> </span>9 <span class=\"_ _49\"> </span><span class=\"ff5e\">\u2013</span> <span class=\"_ _41\"> </span>Comparative Information\u201d<span class=\"ff56\">. <span class=\"_ _23\"></span>L'emendamen<span class=\"_ _0\"></span>to <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span>'opzione <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>transizi<span class=\"_ _0\"></span>one <span class=\"_ _23\"></span>relativa <span class=\"_ _28\"></span>alle <span class=\"_ _23\"></span>informazioni <span class=\"_ _28\"></span>comparative </span>sulle attivit\u00e0 finanziarie <span class=\"_ _29\"></span>presentate alla <span class=\"_ _29\"></span>data di <span class=\"_ _29\"></span>applicazione iniziale dell'IFRS <span class=\"_ _29\"></span>17. L'emendamento \u00e8 volto <span class=\"_ _22\"></span>ad <span class=\"_ _22\"></span>evitare <span class=\"_ _22\"></span>disallineamenti <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>tabili <span class=\"_ _22\"></span>temporanei <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>e <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>contratti assicurativi, e quindi a migliorare l'utilit\u00e0 delle informazioni co<span class=\"_ _0\"></span>mparative per i lettori di bilancio. <span class=\"_ _0\"></span> Considerata <span class=\"_ _23\"></span>l\u2019attivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo, <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>amministratori <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>attendono <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>effetto <span class=\"_ _23\"></span>significativo <span class=\"_ _23\"></span>nel bilancio consolidato <span class=\"ff5d\">dall\u2019adozione di questo <span class=\"_ _0\"></span></span>emendamento. \u25aa <span class=\"_ _30\"> </span>In <span class=\"_ _2d\"> </span>data <span class=\"_ _2c\"> </span>12 <span class=\"_ _2d\"> </span>febbraio <span class=\"_ _2d\"> </span>2021 <span class=\"_ _2d\"> </span>lo <span class=\"_ _2d\"> </span>IASB <span class=\"_ _2d\"> </span>ha <span class=\"_ _2c\"> </span>pu<span class=\"_ _0\"></span>bblicato <span class=\"_ _2d\"> </span>due <span class=\"_ _2d\"> </span>emendamenti <span class=\"_ _2d\"> </span>denominati <span class=\"_ _2d\"> </span><span class=\"ff5e\">\u201cDisclosure <span class=\"_ _2d\"> </span>of </span>Accounting <span class=\"_ _2d\"> </span>Po<span class=\"_ _0\"></span>licies<span class=\"ff5e\">\u2014</span>Amendments <span class=\"_ _2a\"> </span>to <span class=\"_ _2d\"> </span>IAS <span class=\"_ _2a\"> </span>1 <span class=\"_ _2d\"> </span>and <span class=\"_ _2a\"> </span>IFRS <span class=\"_ _2d\"> </span>Practice <span class=\"_ _2a\"> </span>Statement <span class=\"_ _2d\"> </span>2<span class=\"_ _0\"></span>\u201d <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span><span class=\"ff5e\">\u201cDefinition <span class=\"_ _2a\"> </span>of </span>Accounting Estimates<span class=\"ff5e\">\u2014Amendments to<span class=\"_ _0\"></span> IAS 8\u201d<span class=\"ff56 lsb\">. <span class=\"ls0\">Le modifiche son<span class=\"_ _0\"></span>o volte a migliorar<span class=\"ff5d\">e l\u2019info<span class=\"_ _0\"></span>rmativa </span></span></span></span>sulle <span class=\"_\"> </span><span class=\"ff5a\">accounting <span class=\"_\"> </span>polic</span>y <span class=\"_\"> </span>in <span class=\"_\"> </span>modo <span class=\"_\"> </span>da <span class=\"_ _2a\"> </span>fornire <span class=\"_\"> </span>informazioni <span class=\"_\"> </span>pi\u00f9 <span class=\"_\"> </span>utili <span class=\"_\"> </span>agli <span class=\"_ _2a\"> </span>investitori <span class=\"_\"> </span>e <span class=\"_\"> </span>agli <span class=\"_ _2a\"> </span>altri utilizzatori primari del bilancio nonch\u00e9 ad aiutare le <span class=\"_ _29\"></span>societ\u00e0 a distinguere i cam<span class=\"_ _29\"></span>biamenti nelle stime contabili <span class=\"_ _29\"></span>dai <span class=\"_ _2b\"></span>cambiamenti di <span class=\"_ _29\"></span><span class=\"ff5a\">accounting <span class=\"_ _2b\"></span>p<span class=\"_ _0\"></span>olicy<span class=\"ff56\">. <span class=\"_ _29\"></span>Le <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>ifiche <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>applicheranno<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>dal <span class=\"_ _2b\"></span>1\u00b0 gennaio <span class=\"_ _2b\"></span>2023, </span></span>ma \u00e8 consentita un\u2019applicazione anticipata. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Non sono attesi effetti significativi nel bilancio <span class=\"_ _0\"></span>consolidato <span class=\"ff5d\">dall\u2019adozione di tali emendamen<span class=\"_ _0\"></span>ti. </span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>7 <span class=\"_ _22\"></span>maggio<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _22\"></span>lo <span class=\"_ _0\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _0\"></span>pubblicato <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>emendam<span class=\"_ _0\"></span>ento <span class=\"_ _22\"></span>denominato <span class=\"_ _23\"></span><span class=\"ff5e\">\u201cAmendments <span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>IAS </span></span></span>12 <span class=\"_ _2b\"></span>Income <span class=\"_ _29\"></span>Taxes: <span class=\"_ _2b\"></span>Deferred <span class=\"_ _2b\"></span>Ta<span class=\"_ _0\"></span>x <span class=\"_ _2b\"></span>related <span class=\"_ _29\"></span>to <span class=\"_ _2b\"></span>Assets <span class=\"_ _2b\"></span>and <span class=\"_ _2b\"></span>Lia<span class=\"_ _0\"></span>bilities <span class=\"_ _2b\"></span>arising <span class=\"_ _29\"></span>from <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>Single <span class=\"_ _2b\"></span>Transaction\u201d<span class=\"_ _0\"></span><span class=\"ff56 lsb\">. </span>Il documento chiarisce <span class=\"_ _0\"></span>come devono <span class=\"_ _0\"></span>essere contabilizzate le imposte<span class=\"_ _0\"></span> differite su alcun<span class=\"_ _0\"></span>e operazioni che <span class=\"_ _2d\"> </span>possono <span class=\"_ _2a\"> </span>generare <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>passivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>pari <span class=\"_ _2d\"> </span>ammontare, <span class=\"_ _2a\"> </span>quali <span class=\"_ _2d\"> </span>il <span class=\"_ _2d\"> </span>leasing <span class=\"_ _2a\"> </span>e <span class=\"_ _2d\"> </span>gli <span class=\"_ _2d\"> </span>obblighi <span class=\"_ _2a\"> </span>di smantellamento. <span class=\"_ _95\"> </span>Le <span class=\"_ _8e\"> </span>modifiche <span class=\"_ _95\"> </span>si <span class=\"_ _95\"> </span>applicheranno<span class=\"_ _0\"></span> <span class=\"_ _95\"> </span>dal <span class=\"_ _95\"> </span>1\u00b0 <span class=\"_ _95\"> </span>gen<span class=\"_ _0\"></span>naio <span class=\"_ _95\"> </span>2023, <span class=\"_ _95\"> </span>ma <span class=\"_ _95\"> </span>\u00e8 <span class=\"_ _8e\"> </span>consentita un\u2019applicazione anticipata. <span class=\"ff56\"> </span>Non sono attesi effetti significativi nel bilancio <span class=\"_ _0\"></span>consolidato <span class=\"ff5d\">dall\u2019ad</span>ozione di tal<span class=\"_ _0\"></span>e emendamento<span class=\"lsb\">. </span> Al <span class=\"_ _29\"></span>31 <span class=\"_ _29\"></span>dicembre <span class=\"_ _29\"></span>2022 <span class=\"ff5d\">gli <span class=\"_ _2b\"></span>organi competenti <span class=\"_ _2b\"></span>dell\u2019Unione Europea <span class=\"_ _29\"></span>non <span class=\"_ _29\"></span>hanno <span class=\"_ _29\"></span>ancora <span class=\"_ _29\"></span>concluso <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>processo </span>di omologazione necessario per l\u2019adozione degli emend<span class=\"_ _0\"></span>amenti e dei principi sotto descritti:<span class=\"_ _0\"></span><span class=\"ff56\"> </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In data 23 gennaio 2020 lo IASB ha pubblicato un emendamento denominato<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5e\">\u201cAmendments to IAS </span></span></span>1 Presentation of Financial <span class=\"_ _29\"></span>Statements: Classification of Liabilities <span class=\"_ _29\"></span>as Current or Non-<span class=\"ff5e\">current\u201d<span class=\"ff56\"> ed </span></span>in <span class=\"_\"> </span>data <span class=\"_\"> </span>31 <span class=\"_\"> </span>ottobre <span class=\"_\"> </span>2022 <span class=\"_\"> </span>ha <span class=\"_\"> </span>pubblicato <span class=\"_\"> </span>un <span class=\"_\"> </span>emendamento <span class=\"_\"> </span>denominato <span class=\"_\"> </span><span class=\"ff5e\">\u201c<span class=\"ff5a\">Amendments <span class=\"_\"> </span>to <span class=\"_\"> </span>IAS <span class=\"_\"> </span>1 </span></span>Presentation <span class=\"_ _29\"></span>of <span class=\"_ _2b\"></span>Fin<span class=\"_ _0\"></span>ancial <span class=\"_ _29\"></span>Statements: <span class=\"_ _2b\"></span>N<span class=\"_ _0\"></span>on<span class=\"_ _0\"></span>-<span class=\"ff5e\">Current <span class=\"_ _29\"></span>Liabilities <span class=\"_ _29\"></span>with <span class=\"_ _2b\"></span>Covena<span class=\"_ _0\"></span>nts\u201d<span class=\"ff56 lsb\">. <span class=\"_ _29\"></span><span class=\"ls0\">I <span class=\"_ _29\"></span>documenti <span class=\"_ _2b\"></span>han<span class=\"_ _0\"></span>no </span></span></span>l\u2019obiettivo <span class=\"_ _28\"> </span>di <span class=\"_ _2c\"> </span>chiarire <span class=\"_ _2c\"> </span>come <span class=\"_ _2c\"> </span>classificare <span class=\"_ _28\"> </span>i <span class=\"_ _2c\"> </span>debiti <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>le <span class=\"_ _2c\"> </span>altre <span class=\"_ _2c\"> </span>passivit\u00e0 <span class=\"_ _28\"> </span>a <span class=\"_ _2c\"> </span>breve <span class=\"_ _2c\"> </span>o <span class=\"_ _28\"></span>lungo <span class=\"_ _2c\"> </span>termine. <span class=\"_ _2d\"> </span><span class=\"ff56\">Le </span>modifiche <span class=\"_ _2b\"></span>entrano in <span class=\"_ _2b\"></span>vigore <span class=\"_ _2b\"></span>dal <span class=\"_ _2b\"></span>1\u00b0 <span class=\"_ _29\"></span>gennaio <span class=\"_ _2b\"></span>2024<span class=\"_ _0\"></span>; <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>comunque <span class=\"_ _2b\"></span>consent<span class=\"ff5d\">ita un\u2019applicazione <span class=\"_ _2b\"></span>anticipata.<span class=\"ff56\"> </span></span>Non sono attesi effetti significativi nel bilancio <span class=\"_ _0\"></span>consolidato <span class=\"ff5d\">dall\u2019adozione di tale emendamen<span class=\"_ _0\"></span>to. </span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _22\"></span>data <span class=\"_ _23\"></span>22 <span class=\"_ _23\"></span>settembre <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _23\"></span>lo <span class=\"_ _22\"></span>IASB <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>pubblicato <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>emendamento <span class=\"_ _23\"></span>denominato <span class=\"_ _23\"></span><span class=\"ff5e\">\u201cAmen<span class=\"_ _0\"></span>dments <span class=\"_ _23\"></span>to </span></span></span>IFRS <span class=\"_ _2b\"></span>16 <span class=\"_ _2b\"></span><span class=\"ff5e\">Leases: <span class=\"_ _2b\"></span>Lease <span class=\"_ _2b\"></span>Lia<span class=\"_ _0\"></span>bility <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>Sale <span class=\"_ _2b\"></span>and <span class=\"_ _2b\"></span>Leaseb<span class=\"_ _0\"></span>ack\u201d<span class=\"ff56 lsb\">. <span class=\"_ _2b\"></span><span class=\"ls0\">Il <span class=\"_ _2b\"></span>documento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>richiede <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>venditore<span class=\"_ _0\"></span>-l<span class=\"ff5a\">essee</span> </span></span></span>di <span class=\"_ _29\"></span>valutare <span class=\"_ _2b\"></span>la passivit\u00e0 <span class=\"_ _2b\"></span>per il <span class=\"_ _2b\"></span><span class=\"ff5a\">lease<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _29\"></span>riveniente <span class=\"_ _29\"></span>da <span class=\"_ _2b\"></span>una transazione <span class=\"_ _2b\"></span>di <span class=\"ff5a\">sale <span class=\"_ _29\"></span>&amp; <span class=\"_ _2b\"></span>leaseback<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>mod<span class=\"_ _0\"></span>o <span class=\"_ _29\"></span>da <span class=\"_ _29\"></span>non </span></span></span></span>rilevare <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>provento <span class=\"_ _28\"></span>o <span class=\"_ _2c\"></span>una <span class=\"_ _28\"></span>perdita <span class=\"_ _2c\"></span>che <span class=\"_ _28\"></span>si <span class=\"_ _2c\"></span>riferiscano <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>diri<span class=\"_ _0\"></span><span class=\"ff5d\">tto <span class=\"_ _28\"> </span>d\u2019uso <span class=\"_ _2c\"> </span>trattenuto. <span class=\"_ _2c\"> </span>Le <span class=\"_ _28\"></span>modifiche <span class=\"_ _28\"> </span>s<span class=\"_ _0\"></span>i </span>applicheranno dal 1\u00b0 gennaio 2024, ma \u00e8 consentita un\u2019<span class=\"_ _0\"></span>applicazione anticipata. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Non sono attesi effetti significativi nel bilancio <span class=\"_ _0\"></span>consolidato <span class=\"ff5d\">dall\u2019adozione di tale emendamen<span class=\"_ _0\"></span>to. </span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">In <span class=\"_ _2b\"></span>data 30 <span class=\"_ _2b\"></span>gennaio <span class=\"_ _29\"></span>2014 <span class=\"_ _29\"></span>lo <span class=\"_ _2b\"></span>IASB ha <span class=\"_ _2b\"></span>pubblicato il <span class=\"_ _2b\"></span>principio <span class=\"ff5a\">IFRS <span class=\"_ _2b\"></span>14 <span class=\"_ _29\"></span><span class=\"ff5e\">\u2013<span class=\"ff5a\"> <span class=\"_ _2b\"></span>Regulatory Deferral <span class=\"_ _2b\"></span>Accounts<span class=\"ff56\"> </span></span></span></span></span></span>che <span class=\"_ _28\"></span>consente <span class=\"_ _28\"></span>solo <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>coloro <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>adottano <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>IFRS <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _28\"></span>prima <span class=\"_ _28\"></span>volta <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>continuare <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>rilevare <span class=\"_ _28\"></span>gli importi relativi alle attivit\u00e0 soggette a tariffe regolamentate (<span class=\"_ _0\"></span><span class=\"ff5e\">\u201cRate Regulation Activities\u201d</span>) secon<span class=\"_ _0\"></span><span class=\"ls1\">do </span>i precedenti principi contabili adottati. <span class=\"_ _0\"></span> Non essendo il Gruppo<span class=\"_ _0\"></span> <span class=\"ls1\">un </span><span class=\"ff5a\">first-time adopter</span>, tale principio non risulta applicabile.<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">Financial <span class=\"_ _23\"></span>instruments <span class=\"_ _23\"></span>with <span class=\"_ _23\"></span>characteristics <span class=\"_ _23\"></span>of <span class=\"_ _28\"></span>equity<span class=\"ff56\"> <span class=\"_ _23\"></span>(FICE): <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>progetto <span class=\"_ _23\"></span>FICE <span class=\"_ _23\"></span>dello <span class=\"_ _23\"></span>IASB <span class=\"_ _23\"></span>mi<span class=\"_ _0\"></span>ra <span class=\"_ _23\"></span>a </span></span></span>risolvere <span class=\"_ _2b\"></span>i problemi <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>sorg<span class=\"ff5d\">on<span class=\"_ _0\"></span>o <span class=\"_ _2b\"></span>nell'applicazione dello <span class=\"_ _2b\"></span>IAS <span class=\"_ _2b\"></span>32 \u201cStrumenti <span class=\"_ _2b\"></span>finanziari\u201d <span class=\"_ _2b\"></span>e ad <span class=\"_ _2b\"></span>ampliare </span>i <span class=\"_ _22\"></span>requ<span class=\"_ _0\"></span>isiti <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>informativa <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>agli <span class=\"_ _23\"></span>strumenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _23\"></span>emessi <span class=\"_ _23\"></span>dall\u2019entit\u00e0. <span class=\"_ _23\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>La <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>prevista <span class=\"_ _23\"></span>per </span>l'Exposure <span class=\"_ _2b\"></span>Draft <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>seconda <span class=\"_ _2b\"></span>met\u00e0 <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>2023. <span class=\"_ _2b\"></span>L'applicazione <span class=\"_ _2b\"></span>anticip<span class=\"_ _0\"></span>ata <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>consentita <span class=\"_ _2b\"></span>ma <span class=\"_ _2b\"></span>non <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>prevista<span class=\"_ _0\"></span> dal Gruppo. Al <span class=\"_ _2b\"></span>riguard<span class=\"_ _0\"></span>o, <span class=\"_ _2b\"></span>gli Amministratori <span class=\"_ _2b\"></span>non prevedono <span class=\"_ _2b\"></span>che i <span class=\"_ _2b\"></span>nuovi <span class=\"_ _29\"></span>principi, <span class=\"_ _2b\"></span>interpretazioni ed <span class=\"_ _2b\"></span>emendamenti abbiano un impatto significativo sul B<span class=\"_ _0\"></span>ilancio Consolidato. 2.11.<span class=\"ff5f\"> <span class=\"_ _2e\"> </span></span>Impatti della<span class=\"_ _0\"></span> situazione in Ucraina Con riferime<span class=\"_ _0\"></span>nto al <span class=\"_ _0\"></span>conflitto<span class=\"_ _0\"></span> bellico <span class=\"_ _0\"></span>russo<span class=\"_ _0\"></span>-ucraino <span class=\"_ _0\"></span>in corso, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>quale, <span class=\"_ _0\"></span>assieme <span class=\"_ _0\"></span>agli <span class=\"_ _0\"></span>effetti <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>pandemia Covid-19, <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>comportato <span class=\"_ _22\"></span>sign<span class=\"_ _0\"></span>ificativi <span class=\"_ _23\"></span>mutamenti <span class=\"_ _23\"></span>nel <span class=\"_ _22\"></span>quadro <span class=\"_ _23\"></span>macroeconomico <span class=\"_ _23\"></span>(i.e. <span class=\"_ _23\"></span><span class=\"ff5d\">aumento <span class=\"_ _23\"></span>dell\u2019inflazione, </span>difficolt\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>reperimento <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>talune <span class=\"_ _2b\"></span>mat<span class=\"_ _0\"></span>erie <span class=\"_ _2b\"></span>prime, <span class=\"_ _2b\"></span>forte incremento <span class=\"_ _2b\"></span>de<span class=\"ff5d\">l <span class=\"_ _2b\"></span>costo <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>gas <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>dell\u2019energia<span class=\"_ _0\"></span><span class=\"ff56\">), <span class=\"_ _2b\"></span>si <span class=\"_ _2b\"></span>evidenzia </span></span>che <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>non <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>esposto direttamente <span class=\"_ _2b\"></span>a tali <span class=\"_ _2b\"></span>contingenze, non <span class=\"_ _2b\"></span>avendo significativi <span class=\"_ _2b\"></span>rapp<span class=\"_ _0\"></span>orti <span class=\"_ _29\"></span>commerciali <span class=\"_ _29\"></span>con la Russia <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>l\u2019Ucraina.<span class=\"ff56\"> Nel <span class=\"_ _29\"></span>corso dell'esercizio <span class=\"_ _29\"></span>tra gli <span class=\"_ _29\"></span>impatti <span class=\"_ _29\"></span>indiretti del <span class=\"_ _29\"></span>conflitto si evidenzia<span class=\"_ _29\"></span> un <span class=\"_ _29\"></span>aumento <span class=\"_ _29\"></span>non </span>significativo <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>dell'energia <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>Italia; <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>impianti <span class=\"_ _28\"></span>industriali <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>livello <span class=\"_ _23\"></span>europeo <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>hanno <span class=\"_ _23\"></span>subito rincari. Nonostante ci\u00f2 il Gruppo non ha perso compet<span class=\"_ _0\"></span>itivit\u00e0.  Il <span class=\"_ _2c\"> </span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _2d\"> </span>m<span class=\"_ _29\"></span>onitora <span class=\"_ _2d\"> </span>costantemente <span class=\"_ _2c\"></span>le <span class=\"_ _2d\"> </span>evoluzioni <span class=\"_ _2c\"></span>de<span class=\"_ _0\"></span>l <span class=\"_ _2d\"> </span>contesto <span class=\"_ _2c\"></span>geopolitico <span class=\"_ _2d\"> </span>mondiale <span class=\"_ _2c\"></span>che <span class=\"_ _2d\"> </span>potrebbero richiedere <span class=\"_ _3c\"> </span>una <span class=\"_ _49\"> </span>revisione <span class=\"_ _3c\"> </span>delle <span class=\"_ _49\"> </span>strategie <span class=\"_ _49\"> </span>aziendali <span class=\"_ _3c\"> </span>gi\u00e0 <span class=\"_ _49\"> </span>definite <span class=\"_ _3c\"> </span>e/o <span class=\"_ _3c\"> </span>l\u2019ado<span class=\"_ _0\"></span>zione <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>meccanismi <span class=\"_ _3c\"> </span>tali <span class=\"_ _3c\"> </span>da salvaguardarne il posizionamento comp<span class=\"_ _0\"></span>etitivo e le performance.<span class=\"_ _0\"></span> 2.12.<span class=\"ff5f\"> <span class=\"_ _2e\"> </span></span>Informativa per settori o<span class=\"_ _0\"></span>perativi Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>nelle <span class=\"_ _28\"> </span>qu<span class=\"_ _0\"></span>ali <span class=\"_ _28\"></span>il <span class=\"_ _2c\"> </span>Gruppo <span class=\"_ _2c\"> </span>opera <span class=\"_ _28\"></span>e <span class=\"_ _28\"> </span>che <span class=\"_ _2c\"> </span>costituiscono <span class=\"_ _2c\"> </span>l\u2019informativa <span class=\"_ _28\"> </span>per <span class=\"_ _2c\"> </span>settore <span class=\"_ _2c\"> </span>operativo <span class=\"_ _2c\"> </span>come richiesto <span class=\"_ _2b\"></span>dall\u2019<span class=\"_ _0\"></span>IFRS <span class=\"_ _2b\"></span>8 sono <span class=\"_ _2b\"></span>relative <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>Settore Ram<span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>(gr<span class=\"_ _0\"></span>uppo <span class=\"_ _2b\"></span>KME SE) <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>Settore <span class=\"_ _29\"></span>Profumi <span class=\"_ _2b\"></span>&amp; Cosmesi <span class=\"_ _2b\"></span>(gruppo CULTI Milano). La <span class=\"_ _2b\"></span>struttura <span class=\"_ _2b\"></span>direzionale <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>organi<span class=\"ff5d\">zzativa <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _2b\"></span>riflette <span class=\"_ _2b\"></span>l\u2019informativa <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>settore <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>business </span>precedentemente descritta. L\u2019individu<span class=\"_ _0\"></span>azione dei settori operativi \u00e8 operata sulla b<span class=\"_ _0\"></span>ase degli elementi che il p<span class=\"_ _0\"></span>i\u00f9 alto <span class=\"_ _23\"></span>livello <span class=\"_ _23\"></span>decisionale <span class=\"_ _23\"></span>del<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>Gruppo <span class=\"_ _23\"></span>utilizza <span class=\"_ _23\"></span>per<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>prendere <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>prop<span class=\"_ _22\"></span><span class=\"ff5d\">rie <span class=\"_ _23\"></span>decisioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>merito <span class=\"_ _28\"></span>all\u2019allocazione <span class=\"_ _23\"></span>delle </span>risorse e alla valutazione dei risultati. I <span class=\"_ _2b\"></span>dati <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>settore <span class=\"_ _2b\"></span>relativi <span class=\"_ _2b\"></span>ai <span class=\"_ _2b\"></span>ricavi <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>proventi <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>ai <span class=\"_ _2b\"></span>risul<span class=\"_ _0\"></span>tati <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>2022 <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>riportati <span class=\"_ _2b\"></span>nella <span class=\"_ _29\"></span><span class=\"ff5a\">Relazione </span>sull<span class=\"ff5e\">\u2019andamento della</span>gestione<span class=\"ff56\">.<span class=\"_ _0\"></span> </span>2.13.<span class=\"ff5f\"> <span class=\"_ _2e\"> </span></span>Informativa Climate Cha<span class=\"_ _0\"></span>nge Si rimanda a quanto indicato nella <span class=\"_ _0\"></span><span class=\"ff5a\">Relazione sull<span class=\"ff5e\">\u2019andamento dell<span class=\"_ _0\"></span></span>a gestione</span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__80": {
   "value": "2.8.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Uso delle stime La <span class=\"_ _22\"></span>redazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>bilancio <span class=\"_ _22\"></span>consolidato<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>relative <span class=\"_ _22\"></span>note <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>applicazione <span class=\"_ _23\"></span>agli <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>richiede<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>parte degli <span class=\"_ _28\"> </span>Amministratori <span class=\"_ _2c\"> </span>l\u2019effettuazione <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>stime <span class=\"_ _28\"></span>e <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>assunzioni <span class=\"_ _28\"> </span>che <span class=\"_ _2c\"> </span>influenzino <span class=\"_ _2c\"> </span>i <span class=\"_ _28\"> </span>valo<span class=\"_ _0\"></span>ri <span class=\"_ _28\"></span>delle <span class=\"_ _2c\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>dell<span class=\"_ _0\"></span>e passivit\u00e0 di bilancio.  Le stime<span class=\"_ _29\"></span> sono <span class=\"_ _2b\"></span>state utilizzate <span class=\"_ _29\"></span>principalmente per <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>determinazione<span class=\"_ _0\"></span> delle <span class=\"_ _2b\"></span>perdite di valore, <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> </span></span>delle <span class=\"_ _3b\"> </span>partecipazioni <span class=\"_ _3b\"> </span>valutate <span class=\"_ _3b\"> </span>al <span class=\"_ _3b\"> </span><span class=\"ff5a\">fair <span class=\"_ _3b\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _3b\"> </span>e <span class=\"_ _3b\"> </span>degli <span class=\"_ _3b\"> </span>investimenti <span class=\"_ _3b\"> </span>immobiliari, <span class=\"_ _3b\"> </span>delle <span class=\"_ _3b\"> </span>vite <span class=\"_ _3b\"> </span>utili <span class=\"_ _3b\"> </span>delle immobilizzazioni <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>relativo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5d\">(incluso <span class=\"_ _22\"></span>l\u2019avviamento <span class=\"_ _22\"></span>iscritto)<span class=\"_ _0\"></span></span>, <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>accantonamenti <span class=\"_ _22\"></span>per rischi <span class=\"_ _23\"></span>su <span class=\"_ _22\"></span>cred<span class=\"_ _0\"></span>iti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>scorte, <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valore, <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>connessi <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>dipendenti, della stima del carico di imposta corrente e differito e d<span class=\"_ _0\"></span>egli accantonamenti e fondi.<span class=\"_ _0\"></span>  C<span class=\"ff5d\">on <span class=\"_ _23\"></span>riferimento <span class=\"_ _28\"></span>all\u2019Avviamento, <span class=\"_ _23\"></span>i<span class=\"_ _0\"></span></span>l <span class=\"_ _23\"></span>valore <span class=\"_ _28\"></span>recuperabile <span class=\"_ _23\"></span>viene <span class=\"_ _28\"></span>generalmente <span class=\"_ _28\"></span>determinato <span class=\"_ _23\"></span>utilizzando <span class=\"_ _28\"></span><span class=\"ls9\">i </span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _0\"></span>(attualizzati)<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>dipendono <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>larga <span class=\"_ _22\"></span>misura <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>futura <span class=\"_ _22\"></span>attesa <span class=\"_ _23\"></span>(margini <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>profitto lordo <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>fatturato) <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>tengono <span class=\"_ _29\"></span>altres\u00ec <span class=\"_ _2b\"></span>conto <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>economico <span class=\"_ _2b\"></span>gen<span class=\"_ _0\"></span>erale <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>tassi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>futu<span class=\"_ _0\"></span>ri (tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto). <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto, <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>basano <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">Capital <span class=\"_ _23\"></span>Asset <span class=\"_ _22\"></span>Pricing <span class=\"_ _23\"></span>Model</span>, <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>calcolati <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>ba<span class=\"_ _0\"></span>se delle seguenti componenti: tasso di rendimento privo di rischio, fatt<span class=\"_ _29\"></span>ore Beta e rendimento del <span class=\"_ _29\"></span>capitale proprio (che include ipotesi sulla leva finanziari<span class=\"_ _0\"></span>a e sul premio per il rischio di mercato<span class=\"_ _0\"></span>). Le <span class=\"_ _2b\"></span>rimanenze <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>magazzino, <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>valutate <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>minore <span class=\"_ _2b\"></span>tra <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>costo <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>netto <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>realizzo. <span class=\"_ _2b\"></span>Per <span class=\"_ _2b\"></span>calcolare il valore netto di realizzo, vengono <span class=\"_ _0\"></span>stima<span class=\"ls9\">ti</span> i prezzi di vendita e i costi di<span class=\"_ _0\"></span> vendita. Il Gruppo, in <span class=\"_ _29\"></span>particolar modo mediante <span class=\"_ _2b\"></span>KME SE, opera in diversi <span class=\"_ _29\"></span>Paesi. Pertanto, il <span class=\"_ _29\"></span>reddito del<span class=\"_ _29\"></span> Gruppo \u00e8 <span class=\"_ _23\"></span>soggetto <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>diverse <span class=\"_ _23\"></span>giurisdizioni <span class=\"_ _22\"></span>fiscali; <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _23\"></span>imponibile, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fiscali, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>fisc<span class=\"_ _0\"></span>ali, <span class=\"_ _23\"></span>le differenze temporanee, le<span class=\"_ _0\"></span> perdite <span class=\"_ _0\"></span>fiscali e le <span class=\"_ _0\"></span>conseguenti imposte <span class=\"_ _0\"></span>differite sono <span class=\"_ _0\"></span>calcolate individualmente per<span class=\"_ _0\"></span> ciascuna <span class=\"_ _28\"></span>entit\u00e0. <span class=\"_ _2c\"></span>Tali <span class=\"_ _28\"></span>po<span class=\"_ _0\"></span>ste <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"></span>soggette <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>stima; <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>particolare, <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _2c\"></span>attive <span class=\"_ _2c\"></span>possono <span class=\"_ _2c\"></span>essere iscritte solo nella <span class=\"_ _0\"></span>misura in<span class=\"_ _0\"></span> cui sia <span class=\"_ _0\"></span>probabile il <span class=\"_ _0\"></span>loro effettivo realizzo<span class=\"_ _0\"></span> e la realizza<span class=\"_ _0\"></span>zione delle i<span class=\"_ _0\"></span>mposte differite dipende <span class=\"_ _23\"></span>quindi <span class=\"_ _28\"></span>dall'esistenza <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sufficie<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>utili <span class=\"_ _28\"></span>imponibili <span class=\"_ _23\"></span>futuri. <span class=\"_ _23\"></span>Nel <span class=\"_ _28\"></span>valutare <span class=\"_ _23\"></span>l'esistenza <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>sufficienti <span class=\"_ _23\"></span>ut<span class=\"_ _0\"></span>ili imponibili <span class=\"_ _22\"></span>futuri, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>considerati, <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>g<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>fatto<span class=\"_ _0\"></span>ri, <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>utili <span class=\"_ _22\"></span>storici, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>bilanci, <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>limitazion<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>riporto <span class=\"_ _22\"></span>delle perdite e <span class=\"_ _2b\"></span>le strategie di <span class=\"_ _2b\"></span>pianificazione fiscale. <span class=\"_ _29\"></span>A ogni <span class=\"_ _2b\"></span>data di chiusura <span class=\"_ _2b\"></span>del bilancio, la <span class=\"_ _2b\"></span>rilevazione delle imposte differite viene nuovamente sottoposta a valutazion<span class=\"_ _0\"></span>e. I <span class=\"_ _22\"></span>fondi <span class=\"_ _22\"></span>pen<span class=\"_ _0\"></span>sione <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>contabilizzati <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>metodi <span class=\"_ _23\"></span>attuariali. <span class=\"_ _0\"></span>Le <span class=\"_ _23\"></span>ipotesi <span class=\"_ _22\"></span>attuariali <span class=\"_ _22\"></span>comprendono <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>tassi <span class=\"_ _22\"></span>di sconto, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>mortalit\u00e0 <span class=\"_ _23\"></span>e, <span class=\"_ _22\"></span>laddove <span class=\"_ _23\"></span>valutati <span class=\"_ _22\"></span>applicabili<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rendimenti <span class=\"_ _23\"></span>attesi <span class=\"_ _22\"></span>sulle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>piano. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>valori effettivi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>tali <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>differire <span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ificativamente <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>previsti <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>causa <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>variazioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. Pertanto, gli scostamenti rispetto alle <span class=\"_ _29\"></span>previsioni possono avere <span class=\"_ _29\"></span>un impatto significativo sulle <span class=\"_ _29\"></span>passivit\u00e0 relative ai benefici ai dipendenti.  Inoltre, gli <span class=\"_ _29\"></span>accantonamenti iscritti <span class=\"_ _29\"></span>a bilancio <span class=\"_ _29\"></span>comprendono la <span class=\"_ _29\"></span>valutazione dei <span class=\"_ _29\"></span>fatti e <span class=\"_ _2b\"></span>delle circostanze, le richieste <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>risarcimento <span class=\"_ _2a\"> </span>sollevate <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>stime <span class=\"_ _2a\"> </span>della <span class=\"_ _2d\"> </span>gamma <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>potenziali <span class=\"_ _2a\"> </span>importi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>liquidazione <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>della probabilit\u00e0 di accadimento. Alcuni <span class=\"_ _0\"></span>principi <span class=\"_ _0\"></span>contabili <span class=\"_ _0\"></span>adottati <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>richiedono<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>per le <span class=\"_ _0\"></span>attivit\u00e0 e <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>finanziarie. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinare <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>fair <span class=\"_ _22\"></span>value <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>e non <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _2c\"></span>utilizza, <span class=\"_ _2c\"></span>ove <span class=\"_ _28\"></span>possibile, <span class=\"_ _2c\"></span>input <span class=\"_ _28\"></span>osservab<span class=\"_ _0\"></span>ili <span class=\"_ _28\"></span>sul <span class=\"_ _2c\"></span>mercato. <span class=\"_ _2c\"></span>In <span class=\"_ _28\"></span>bas<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fattori <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>input utilizzati <span class=\"_ _29\"></span>nelle <span class=\"_ _29\"></span>tecniche <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>valutazione, <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>classifi<span class=\"_ _0\"></span>cato <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>diversi <span class=\"_ _29\"></span>livelli <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>gerarchia <span class=\"_ _2b\"></span>del fair <span class=\"_ _29\"></span>value. </span></span>\u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 1: prezzi quotati (non rettificati) in mercati attivi<span class=\"_ _0\"></span>; </span></span>\u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello <span class=\"_ _0\"></span>2: <span class=\"_ _22\"></span>parametri <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>quotati <span class=\"_ _22\"></span>considerati <span class=\"_ _0\"></span>nel <span class=\"_ _22\"></span>Livello <span class=\"_ _22\"></span>1, <span class=\"_ _0\"></span>ma <span class=\"_ _22\"></span>che </span></span>tuttavia richiedo<span class=\"_ _0\"></span>no di<span class=\"_ _0\"></span> essere <span class=\"_ _0\"></span>osservati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o de<span class=\"_ _0\"></span>biti <span class=\"_ _0\"></span>simili, direttamen<span class=\"_ _0\"></span>te (cio\u00e8 <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span>prezzi) <span class=\"_ _0\"></span>o indirettamente (cio\u00e8 derivati dai prezz<span class=\"ls9\">i);</span> \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 3: parametri di valutazione di attivit\u00e0 o debiti n<span class=\"_ _0\"></span>on basati su input di mercato osservabili.<span class=\"_ _0\"></span> </span></span>Le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>iscritte <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Bilancio <span class=\"_ _23\"></span>Consolidato<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>basate <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>storico, <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>eccezione degli strumenti <span class=\"_ _2b\"></span>finanziari derivati, <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>partecipazioni <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>altre <span class=\"_ _2b\"></span>imprese, dei <span class=\"ff5d\">\u201c</span>corrispettivi <span class=\"_ _2b\"></span>potenziali<span class=\"ff5d\">\u201d (</span>IFRS <span class=\"_ _29\"></span>3), degli <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span>vestimenti <span class=\"_ _28\"></span>immobiliari <span class=\"_ _2c\"></span>che <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>valutati <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span><span class=\"lsb\">, <span class=\"_ _2c\"></span></span><span class=\"ff5d\">degli <span class=\"_ _2c\"> </span>oneri <span class=\"_ _2c\"> </span>attuariali <span class=\"_ _28\"></span>derivanti <span class=\"_ _2c\"> </span>dall\u2019IFRS <span class=\"_ _2c\"> </span>2,<span class=\"_ _0\"></span> </span>nonch\u00e9 <span class=\"_ _2e\"> </span>dell'indebitamento <span class=\"_ _2e\"> </span>netto <span class=\"_ _8b\"> </span>derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>piani <span class=\"_ _8b\"> </span>a <span class=\"_ _2e\"> </span>benefici <span class=\"_ _2e\"> </span>definiti <span class=\"_ _2e\"> </span>che <span class=\"_ _8b\"> </span>\u00e8 <span class=\"_ _2e\"> </span>valutato <span class=\"_ _2e\"> </span>al <span class=\"_ _8b\"> </span>valore <span class=\"_ _2e\"> </span>attuale dell'obbligazione a benefici defini<span class=\"_ _0\"></span>ti meno il <span class=\"ff5a\">fair value</span> delle attivit\u00e0 a servizio<span class=\"_ _0\"></span> del piano. Le stime <span class=\"_ _2b\"></span>ed assunzioni sono riviste periodicam<span class=\"_ _29\"></span>ente ed eventuali <span class=\"_ _29\"></span>effetti saranno <span class=\"_ _29\"></span>riflessi immediatamente a <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>to <span class=\"_ _23\"></span>economico. <span class=\"_ _22\"></span>Alla <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>riferimento <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>presente <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>Amministr<span class=\"_ _0\"></span>atori <span class=\"_ _23\"></span>ritengono, comunque, <span class=\"_ _2f\"> </span>che <span class=\"_ _2e\"> </span>le <span class=\"_ _2f\"> </span>stime <span class=\"_ _2e\"> </span>e <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>assunzioni <span class=\"_ _2f\"> </span>utilizzate <span class=\"_ _2f\"> </span>riflettano <span class=\"_ _2e\"> </span>la <span class=\"_ _2f\"> </span>migliore <span class=\"_ _2e\"> </span>valutazione <span class=\"_ _2f\"> </span>possibile <span class=\"_ _2f\"> </span>date <span class=\"_ _2e\"> </span>le informazioni <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span>sponibili. <span class=\"_ _2d\"> </span>Gli <span class=\"_ _2a\"> </span>Amministratori <span class=\"_ _2d\"> </span>riten<span class=\"_ _0\"></span>gono <span class=\"_ _2a\"> </span>inoltre <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>stime <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>assunzioni <span class=\"_ _2a\"> </span>adottate <span class=\"_ _2d\"> </span>non comportino rettifiche materiali ai v<span class=\"_ _0\"></span>alori contabili delle attivit\u00e0 e passivit\u00e0.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__79": {
   "value": "2.8.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Uso delle stime La <span class=\"_ _22\"></span>redazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>bilancio <span class=\"_ _22\"></span>consolidato<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>relative <span class=\"_ _22\"></span>note <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>applicazione <span class=\"_ _23\"></span>agli <span class=\"_ _22\"></span>IFRS <span class=\"_ _22\"></span>richiede<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>parte degli <span class=\"_ _28\"> </span>Amministratori <span class=\"_ _2c\"> </span>l\u2019effettuazione <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>stime <span class=\"_ _28\"></span>e <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>assunzioni <span class=\"_ _28\"> </span>che <span class=\"_ _2c\"> </span>influenzino <span class=\"_ _2c\"> </span>i <span class=\"_ _28\"> </span>valo<span class=\"_ _0\"></span>ri <span class=\"_ _28\"></span>delle <span class=\"_ _2c\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>e <span class=\"_ _28\"> </span>dell<span class=\"_ _0\"></span>e passivit\u00e0 di bilancio.  Le stime<span class=\"_ _29\"></span> sono <span class=\"_ _2b\"></span>state utilizzate <span class=\"_ _29\"></span>principalmente per <span class=\"_ _29\"></span>la <span class=\"_ _2b\"></span>determinazione<span class=\"_ _0\"></span> delle <span class=\"_ _2b\"></span>perdite di valore, <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> </span></span>delle <span class=\"_ _3b\"> </span>partecipazioni <span class=\"_ _3b\"> </span>valutate <span class=\"_ _3b\"> </span>al <span class=\"_ _3b\"> </span><span class=\"ff5a\">fair <span class=\"_ _3b\"> </span>value<span class=\"_ _0\"></span></span> <span class=\"_ _3b\"> </span>e <span class=\"_ _3b\"> </span>degli <span class=\"_ _3b\"> </span>investimenti <span class=\"_ _3b\"> </span>immobiliari, <span class=\"_ _3b\"> </span>delle <span class=\"_ _3b\"> </span>vite <span class=\"_ _3b\"> </span>utili <span class=\"_ _3b\"> </span>delle immobilizzazioni <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>relativo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5d\">(incluso <span class=\"_ _22\"></span>l\u2019avviamento <span class=\"_ _22\"></span>iscritto)<span class=\"_ _0\"></span></span>, <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>accantonamenti <span class=\"_ _22\"></span>per rischi <span class=\"_ _23\"></span>su <span class=\"_ _22\"></span>cred<span class=\"_ _0\"></span>iti <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _23\"></span>scorte, <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>eventuali <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valore, <span class=\"_ _23\"></span>dei <span class=\"_ _22\"></span>costi <span class=\"_ _23\"></span>connessi <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>ben<span class=\"_ _0\"></span>efici <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>dipendenti, della stima del carico di imposta corrente e differito e d<span class=\"_ _0\"></span>egli accantonamenti e fondi.<span class=\"_ _0\"></span>  C<span class=\"ff5d\">on <span class=\"_ _23\"></span>riferimento <span class=\"_ _28\"></span>all\u2019Avviamento, <span class=\"_ _23\"></span>i<span class=\"_ _0\"></span></span>l <span class=\"_ _23\"></span>valore <span class=\"_ _28\"></span>recuperabile <span class=\"_ _23\"></span>viene <span class=\"_ _28\"></span>generalmente <span class=\"_ _28\"></span>determinato <span class=\"_ _23\"></span>utilizzando <span class=\"_ _28\"></span><span class=\"ls9\">i </span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _0\"></span>(attualizzati)<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>dipendono <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>larga <span class=\"_ _22\"></span>misura <span class=\"_ _22\"></span>da<span class=\"_ _0\"></span>lla <span class=\"_ _22\"></span>redditiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>futura <span class=\"_ _22\"></span>attesa <span class=\"_ _23\"></span>(margini <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>profitto lordo <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>fatturato) <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>tengono <span class=\"_ _29\"></span>altres\u00ec <span class=\"_ _2b\"></span>conto <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>contesto <span class=\"_ _2b\"></span>economico <span class=\"_ _2b\"></span>gen<span class=\"_ _0\"></span>erale <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>de<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>tassi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>futu<span class=\"_ _0\"></span>ri (tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto). <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto, <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>basano <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">Capital <span class=\"_ _23\"></span>Asset <span class=\"_ _22\"></span>Pricing <span class=\"_ _23\"></span>Model</span>, <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>calcolati <span class=\"_ _23\"></span>sulla <span class=\"_ _22\"></span>ba<span class=\"_ _0\"></span>se delle seguenti componenti: tasso di rendimento privo di rischio, fatt<span class=\"_ _29\"></span>ore Beta e rendimento del <span class=\"_ _29\"></span>capitale proprio (che include ipotesi sulla leva finanziari<span class=\"_ _0\"></span>a e sul premio per il rischio di mercato<span class=\"_ _0\"></span>). Le <span class=\"_ _2b\"></span>rimanenze <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>magazzino, <span class=\"_ _29\"></span>sono <span class=\"_ _2b\"></span>valutate <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span>minore <span class=\"_ _2b\"></span>tra <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>costo <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore <span class=\"_ _29\"></span>netto <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>realizzo. <span class=\"_ _2b\"></span>Per <span class=\"_ _2b\"></span>calcolare il valore netto di realizzo, vengono <span class=\"_ _0\"></span>stima<span class=\"ls9\">ti</span> i prezzi di vendita e i costi di<span class=\"_ _0\"></span> vendita. Il Gruppo, in <span class=\"_ _29\"></span>particolar modo mediante <span class=\"_ _2b\"></span>KME SE, opera in diversi <span class=\"_ _29\"></span>Paesi. Pertanto, il <span class=\"_ _29\"></span>reddito del<span class=\"_ _29\"></span> Gruppo \u00e8 <span class=\"_ _23\"></span>soggetto <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>diverse <span class=\"_ _23\"></span>giurisdizioni <span class=\"_ _22\"></span>fiscali; <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>ogni <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _23\"></span>imponibile, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>fiscali, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _23\"></span>fisc<span class=\"_ _0\"></span>ali, <span class=\"_ _23\"></span>le differenze temporanee, le<span class=\"_ _0\"></span> perdite <span class=\"_ _0\"></span>fiscali e le <span class=\"_ _0\"></span>conseguenti imposte <span class=\"_ _0\"></span>differite sono <span class=\"_ _0\"></span>calcolate individualmente per<span class=\"_ _0\"></span> ciascuna <span class=\"_ _28\"></span>entit\u00e0. <span class=\"_ _2c\"></span>Tali <span class=\"_ _28\"></span>po<span class=\"_ _0\"></span>ste <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"></span>soggette <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>stima; <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>particolare, <span class=\"_ _28\"></span>le <span class=\"_ _2c\"></span>imposte <span class=\"_ _28\"></span>differite <span class=\"_ _2c\"></span>attive <span class=\"_ _2c\"></span>possono <span class=\"_ _2c\"></span>essere iscritte solo nella <span class=\"_ _0\"></span>misura in<span class=\"_ _0\"></span> cui sia <span class=\"_ _0\"></span>probabile il <span class=\"_ _0\"></span>loro effettivo realizzo<span class=\"_ _0\"></span> e la realizza<span class=\"_ _0\"></span>zione delle i<span class=\"_ _0\"></span>mposte differite dipende <span class=\"_ _23\"></span>quindi <span class=\"_ _28\"></span>dall'esistenza <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sufficie<span class=\"_ _0\"></span>nti <span class=\"_ _23\"></span>utili <span class=\"_ _28\"></span>imponibili <span class=\"_ _23\"></span>futuri. <span class=\"_ _23\"></span>Nel <span class=\"_ _28\"></span>valutare <span class=\"_ _23\"></span>l'esistenza <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>sufficienti <span class=\"_ _23\"></span>ut<span class=\"_ _0\"></span>ili imponibili <span class=\"_ _22\"></span>futuri, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>considerati, <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>g<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span>altri <span class=\"_ _22\"></span>fatto<span class=\"_ _0\"></span>ri, <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>utili <span class=\"_ _22\"></span>storici, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>bilanci, <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>limitazion<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>riporto <span class=\"_ _22\"></span>delle perdite e <span class=\"_ _2b\"></span>le strategie di <span class=\"_ _2b\"></span>pianificazione fiscale. <span class=\"_ _29\"></span>A ogni <span class=\"_ _2b\"></span>data di chiusura <span class=\"_ _2b\"></span>del bilancio, la <span class=\"_ _2b\"></span>rilevazione delle imposte differite viene nuovamente sottoposta a valutazion<span class=\"_ _0\"></span>e. I <span class=\"_ _22\"></span>fondi <span class=\"_ _22\"></span>pen<span class=\"_ _0\"></span>sione <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>contabilizzati <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>metodi <span class=\"_ _23\"></span>attuariali. <span class=\"_ _0\"></span>Le <span class=\"_ _23\"></span>ipotesi <span class=\"_ _22\"></span>attuariali <span class=\"_ _22\"></span>comprendono <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>tassi <span class=\"_ _22\"></span>di sconto, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>mortalit\u00e0 <span class=\"_ _23\"></span>e, <span class=\"_ _22\"></span>laddove <span class=\"_ _23\"></span>valutati <span class=\"_ _22\"></span>applicabili<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>rendimenti <span class=\"_ _23\"></span>attesi <span class=\"_ _22\"></span>sulle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>piano. <span class=\"_ _22\"></span>I <span class=\"_ _23\"></span>valori effettivi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>tali <span class=\"_ _0\"></span>ipotesi <span class=\"_ _0\"></span>possono <span class=\"_ _0\"></span>differire <span class=\"_ _0\"></span>sign<span class=\"_ _0\"></span>ificativamente <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>previsti <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>causa <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>variazioni <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato. Pertanto, gli scostamenti rispetto alle <span class=\"_ _29\"></span>previsioni possono avere <span class=\"_ _29\"></span>un impatto significativo sulle <span class=\"_ _29\"></span>passivit\u00e0 relative ai benefici ai dipendenti.  Inoltre, gli <span class=\"_ _29\"></span>accantonamenti iscritti <span class=\"_ _29\"></span>a bilancio <span class=\"_ _29\"></span>comprendono la <span class=\"_ _29\"></span>valutazione dei <span class=\"_ _29\"></span>fatti e <span class=\"_ _2b\"></span>delle circostanze, le richieste <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>risarcimento <span class=\"_ _2a\"> </span>sollevate <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>stime <span class=\"_ _2a\"> </span>della <span class=\"_ _2d\"> </span>gamma <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>potenziali <span class=\"_ _2a\"> </span>importi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>liquidazione <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>della probabilit\u00e0 di accadimento. Alcuni <span class=\"_ _0\"></span>principi <span class=\"_ _0\"></span>contabili <span class=\"_ _0\"></span>adottati <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>Gruppo <span class=\"_ _0\"></span>richiedono<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> <span class=\"_ _22\"></span>per le <span class=\"_ _0\"></span>attivit\u00e0 e <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>finanziarie. <span class=\"_ _0\"></span>Per <span class=\"_ _0\"></span>determinare <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>fair <span class=\"_ _22\"></span>value <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _22\"></span>e non <span class=\"_ _28\"></span>finanziarie, <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _2c\"></span>utilizza, <span class=\"_ _2c\"></span>ove <span class=\"_ _28\"></span>possibile, <span class=\"_ _2c\"></span>input <span class=\"_ _28\"></span>osservab<span class=\"_ _0\"></span>ili <span class=\"_ _28\"></span>sul <span class=\"_ _2c\"></span>mercato. <span class=\"_ _2c\"></span>In <span class=\"_ _28\"></span>bas<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fattori <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>input utilizzati <span class=\"_ _29\"></span>nelle <span class=\"_ _29\"></span>tecniche <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>valutazione, <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>classifi<span class=\"_ _0\"></span>cato <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>diversi <span class=\"_ _29\"></span>livelli <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>gerarchia <span class=\"_ _2b\"></span>del fair <span class=\"_ _29\"></span>value. </span></span>\u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 1: prezzi quotati (non rettificati) in mercati attivi<span class=\"_ _0\"></span>; </span></span>\u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello <span class=\"_ _0\"></span>2: <span class=\"_ _22\"></span>parametri <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>valutazione <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>prezzi <span class=\"_ _22\"></span>quotati <span class=\"_ _22\"></span>considerati <span class=\"_ _0\"></span>nel <span class=\"_ _22\"></span>Livello <span class=\"_ _22\"></span>1, <span class=\"_ _0\"></span>ma <span class=\"_ _22\"></span>che </span></span>tuttavia richiedo<span class=\"_ _0\"></span>no di<span class=\"_ _0\"></span> essere <span class=\"_ _0\"></span>osservati <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>o de<span class=\"_ _0\"></span>biti <span class=\"_ _0\"></span>simili, direttamen<span class=\"_ _0\"></span>te (cio\u00e8 <span class=\"_ _0\"></span>come <span class=\"_ _0\"></span>prezzi) <span class=\"_ _0\"></span>o indirettamente (cio\u00e8 derivati dai prezz<span class=\"ls9\">i);</span> \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 3: parametri di valutazione di attivit\u00e0 o debiti n<span class=\"_ _0\"></span>on basati su input di mercato osservabili.<span class=\"_ _0\"></span> </span></span>Le <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>iscritte <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Bilancio <span class=\"_ _23\"></span>Consolidato<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>basate <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span>costo <span class=\"_ _23\"></span>storico, <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>eccezione degli strumenti <span class=\"_ _2b\"></span>finanziari derivati, <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>partecipazioni <span class=\"_ _29\"></span>in <span class=\"_ _29\"></span>altre <span class=\"_ _2b\"></span>imprese, dei <span class=\"ff5d\">\u201c</span>corrispettivi <span class=\"_ _2b\"></span>potenziali<span class=\"ff5d\">\u201d (</span>IFRS <span class=\"_ _29\"></span>3), degli <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span>vestimenti <span class=\"_ _28\"></span>immobiliari <span class=\"_ _2c\"></span>che <span class=\"_ _2c\"></span>sono <span class=\"_ _2c\"></span>valutati <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value</span><span class=\"lsb\">, <span class=\"_ _2c\"></span></span><span class=\"ff5d\">degli <span class=\"_ _2c\"> </span>oneri <span class=\"_ _2c\"> </span>attuariali <span class=\"_ _28\"></span>derivanti <span class=\"_ _2c\"> </span>dall\u2019IFRS <span class=\"_ _2c\"> </span>2,<span class=\"_ _0\"></span> </span>nonch\u00e9 <span class=\"_ _2e\"> </span>dell'indebitamento <span class=\"_ _2e\"> </span>netto <span class=\"_ _8b\"> </span>derivante <span class=\"_ _2e\"> </span>da <span class=\"_ _2e\"> </span>piani <span class=\"_ _8b\"> </span>a <span class=\"_ _2e\"> </span>benefici <span class=\"_ _2e\"> </span>definiti <span class=\"_ _2e\"> </span>che <span class=\"_ _8b\"> </span>\u00e8 <span class=\"_ _2e\"> </span>valutato <span class=\"_ _2e\"> </span>al <span class=\"_ _8b\"> </span>valore <span class=\"_ _2e\"> </span>attuale dell'obbligazione a benefici defini<span class=\"_ _0\"></span>ti meno il <span class=\"ff5a\">fair value</span> delle attivit\u00e0 a servizio<span class=\"_ _0\"></span> del piano. Le stime <span class=\"_ _2b\"></span>ed assunzioni sono riviste periodicam<span class=\"_ _29\"></span>ente ed eventuali <span class=\"_ _29\"></span>effetti saranno <span class=\"_ _29\"></span>riflessi immediatamente a <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>to <span class=\"_ _23\"></span>economico. <span class=\"_ _22\"></span>Alla <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>riferimento <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>presente <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>Amministr<span class=\"_ _0\"></span>atori <span class=\"_ _23\"></span>ritengono, comunque, <span class=\"_ _2f\"> </span>che <span class=\"_ _2e\"> </span>le <span class=\"_ _2f\"> </span>stime <span class=\"_ _2e\"> </span>e <span class=\"_ _2f\"> </span>le <span class=\"_ _2e\"> </span>assunzioni <span class=\"_ _2f\"> </span>utilizzate <span class=\"_ _2f\"> </span>riflettano <span class=\"_ _2e\"> </span>la <span class=\"_ _2f\"> </span>migliore <span class=\"_ _2e\"> </span>valutazione <span class=\"_ _2f\"> </span>possibile <span class=\"_ _2f\"> </span>date <span class=\"_ _2e\"> </span>le informazioni <span class=\"_ _2d\"> </span>di<span class=\"_ _0\"></span>sponibili. <span class=\"_ _2d\"> </span>Gli <span class=\"_ _2a\"> </span>Amministratori <span class=\"_ _2d\"> </span>riten<span class=\"_ _0\"></span>gono <span class=\"_ _2a\"> </span>inoltre <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>stime <span class=\"_ _2d\"> </span>e <span class=\"_ _2a\"> </span>le <span class=\"_ _2d\"> </span>assunzioni <span class=\"_ _2a\"> </span>adottate <span class=\"_ _2d\"> </span>non comportino rettifiche materiali ai v<span class=\"_ _0\"></span>alori contabili delle attivit\u00e0 e passivit\u00e0.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__82": {
   "value": "3.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Politica di gestione dei rischi finanziari<span class=\"_ _0\"></span> </span></span>La <span class=\"_\"> </span>Capogruppo <span class=\"_\"> </span>nella <span class=\"_\"> </span>sua<span class=\"_ _0\"></span> <span class=\"_\"> </span>posizione <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span><span class=\"ff5a\">ho<span class=\"_ _0\"></span>lding</span> <span class=\"_\"> </span>di <span class=\"_\"> </span>investimenti <span class=\"_\"> </span>dinamica, <span class=\"_ _8b\"> </span>\u00e8 <span class=\"_\"> </span>sempre <span class=\"_ _8b\"> </span>stata <span class=\"_\"> </span>esposta direttamente <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>rischi <span class=\"_ _2c\"></span>legati <span class=\"_ _2d\"> </span>alle <span class=\"_ _2d\"> </span>operazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>investimento <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>disinvestimento. <span class=\"_ _2d\"> </span>I <span class=\"_ _2d\"> </span>risultati <span class=\"_ _2d\"> </span>economici <span class=\"_ _2c\"> </span>della Societ\u00e0 <span class=\"_ _22\"></span>dipendono <span class=\"_ _23\"></span>prevalentemente <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>tali <span class=\"_ _23\"></span>operazioni <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>dai <span class=\"_ _23\"></span>dividendi <span class=\"_ _22\"></span>eventualmente <span class=\"_ _22\"></span>distribuiti <span class=\"_ _23\"></span>dalle <span class=\"_ _22\"></span>societ\u00e0 partecipate <span class=\"_ _8b\"> </span>e, <span class=\"_ _2e\"> </span>quindi, <span class=\"_ _8b\"> </span>in <span class=\"_ _2e\"> </span>ultima <span class=\"_ _8b\"> </span>istanza, <span class=\"_ _2e\"> </span>riflettono, <span class=\"_ _8b\"> </span>oltre <span class=\"_ _2e\"> </span>l\u2019andamento <span class=\"_ _2e\"> </span>econ<span class=\"_ _0\"></span><span class=\"ff56\">omico, <span class=\"_ _8b\"> </span>anche<span class=\"_ _0\"></span> <span class=\"_ _8b\"> </span>le <span class=\"_ _2e\"> </span>politiche <span class=\"_ _8b\"> </span>di </span>investimento e di distribuzione dei dividendi di quest\u2019u<span class=\"_ _0\"></span>ltime. <span class=\"ff56\"> </span>Gli <span class=\"_ _28\"></span>investimenti <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _28\"></span>societarie <span class=\"_ _28\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>loro <span class=\"_ _28\"></span>natu<span class=\"_ _0\"></span>ra <span class=\"_ _28\"></span>investimenti <span class=\"_ _28\"></span>connotati <span class=\"_ _2c\"></span>da <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>certo livello di <span class=\"_ _0\"></span>rischio. <span class=\"_ _0\"></span>Tali <span class=\"_ _0\"></span>tipologie di <span class=\"_ _0\"></span>investimenti, <span class=\"_ _0\"></span>infatti, <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>garantiscono <span class=\"_ _0\"></span>la certezza <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rimborso del <span class=\"_ _0\"></span>capitale investito <span class=\"_ _22\"></span>ovvero <span class=\"_ _22\"></span>possono <span class=\"_ _22\"></span>produrre <span class=\"_ _22\"></span>flussi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>cassa <span class=\"_ _22\"></span>in<span class=\"_ _0\"></span>sufficienti <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>remunerare <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>capitale <span class=\"_ _22\"></span>inves<span class=\"_ _0\"></span>tito <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>comunque tradursi in performance che possono<span class=\"_ _0\"></span> risultare inferiori a quelle di mercato.<span class=\"_ _0\"></span> Inoltre, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>processo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>disinvestimento <span class=\"_ _0\"></span>potrebb<span class=\"_ _0\"></span>e richi<span class=\"_ _0\"></span>edere tempi <span class=\"_ _0\"></span>pi<span class=\"_ _0\"></span>\u00f9 <span class=\"_ _0\"></span>lunghi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>previsti <span class=\"_ _0\"></span>e/o <span class=\"_ _0\"></span>essere realizzato <span class=\"_ _23\"></span>con <span class=\"_ _28\"></span>modalit\u00e0 <span class=\"_ _28\"></span>non <span class=\"_ _23\"></span>pienamente <span class=\"_ _28\"></span>soddisfacenti <span class=\"_ _28\"></span>o <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>condizioni <span class=\"_ _23\"></span>non <span class=\"_ _28\"></span>remunerative. <span class=\"_ _28\"></span>In <span class=\"_ _23\"></span>particolare, <span class=\"_ _28\"></span>con riferimento <span class=\"_ _2d\"> </span>alle <span class=\"_ _2c\"></span>partecipazioni <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>quotate, <span class=\"_ _2d\"> </span>direttamente <span class=\"_ _2d\"> </span>o <span class=\"_ _2c\"></span>indirettamente <span class=\"_ _2d\"> </span>detenute, <span class=\"_ _2c\"></span>non <span class=\"_ _2d\"> </span>si <span class=\"_ _2c\"></span>pu\u00f2 garantire <span class=\"_ _0\"></span>l\u2019assenza <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>rischi <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>nessi <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>liquidabilit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>tali <span class=\"_ _0\"></span>partecipazioni <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>valutazione delle <span class=\"_ _2b\"></span>stesse, in <span class=\"_ _2b\"></span>considerazione: <span class=\"_ _29\"></span>(a) <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>possibile <span class=\"_ _2b\"></span>assenza in <span class=\"_ _2b\"></span>tali <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>sistemi di <span class=\"_ _2b\"></span>controllo a<span class=\"_ _29\"></span>naloghi <span class=\"_ _2b\"></span>a quelli richiesti <span class=\"_ _2e\"> </span>per <span class=\"_ _2e\"> </span>le <span class=\"_ _2e\"> </span>societ\u00e0 <span class=\"_ _2e\"> </span>con <span class=\"_ _2e\"> </span>tito<span class=\"_ _0\"></span>li <span class=\"_ _2e\"> </span>quotati, <span class=\"_ _2e\"> </span>con <span class=\"_ _2e\"> </span>la <span class=\"_ _2e\"> </span>possibile <span class=\"_ _2e\"> </span>conseguente <span class=\"_ _2f\"> </span>indisponibilit\u00e0 <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>un <span class=\"_ _2f\"> </span>flusso <span class=\"_ _2e\"> </span>di informazioni <span class=\"_ _29\"></span>almeno <span class=\"_ _2b\"></span>pari, <span class=\"_ _29\"></span>sotto <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>profilo <span class=\"_ _29\"></span>quantitativo <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>qualitativo, a <span class=\"_ _2b\"></span>quello <span class=\"_ _2b\"></span>disponib<span class=\"_ _0\"></span>ile <span class=\"_ _2b\"></span>per le <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _29\"></span>con <span class=\"_ _2b\"></span>titoli<span class=\"_ _0\"></span> quot<span class=\"ls0\">ati; <span class=\"_ _2b\"></span>e (b) <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>difficol<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _2b\"></span>di effettuare <span class=\"_ _2b\"></span>verifiche <span class=\"_ _29\"></span>indipendenti <span class=\"_ _29\"></span>nelle <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _29\"></span>e, <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>indi, <span class=\"_ _29\"></span>valutare <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>completezza </span>e <span class=\"_ _22\"></span>l\u2019accuratez<span class=\"_ _0\"></span>za <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>informazioni <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>esse <span class=\"_ _23\"></span>fornite. <span class=\"_ _22\"></span>Nel <span class=\"_ _23\"></span>caso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>partecipazioni <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>controllo, <span class=\"_ _22\"></span>siano <span class=\"_ _23\"></span>esse <span class=\"_ _22\"></span>di societ\u00e0 <span class=\"_ _2d\"> </span>quotate <span class=\"_ _2d\"> </span>o <span class=\"_ _2d\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2d\"> </span>quotate, <span class=\"_ _2d\"> </span>la <span class=\"_ _2a\"> </span>possibilit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>influire <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>gestione <span class=\"_ _2a\"> </span>delle <span class=\"_ _2d\"> </span>partecipazioni <span class=\"_ _2d\"> </span>medesime <span class=\"_ _2d\"> </span>per favorirne la <span class=\"_ _2b\"></span>crescita, anche attraverso <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>rapporto con <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>management e <span class=\"_ _2b\"></span>l\u2019azionariato della partecipata, <span class=\"_ _29\"></span>potrebbe essere limitata. La progressiva <span class=\"_ _2b\"></span>focalizzazio<span class=\"_ _0\"></span>ne della <span class=\"_ _2b\"></span>Societ\u00e0 e <span class=\"_ _29\"></span>del <span class=\"ff5d\">Gruppo sull\u2019attivit\u00e0 <span class=\"_ _2b\"></span>industriale di KME <span class=\"_ _2b\"></span>SE conduce l<span class=\"_ _29\"></span>a </span>Societ\u00e0 a essere soggetta pi\u00f9 direttamente ai rischi dell\u2019<span class=\"_ _0\"></span>attivit\u00e0 di KME SE stessa.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Con <span class=\"_ _23\"></span>riferiment<span class=\"_ _0\"></span>o <span class=\"_ _23\"></span>agli <span class=\"_ _28\"></span>impatti <span class=\"_ _23\"></span>derivanti <span class=\"_ _28\"></span>dal <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>flitto <span class=\"_ _23\"></span>Russia<span class=\"_ _0\"></span>-Ucraina <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>dal <span class=\"_ _28\"></span>deteriorato <span class=\"_ _28\"></span>contesto <span class=\"_ _23\"></span>macro<span class=\"_ _0\"></span>-economico <span class=\"_ _22\"></span>successivo <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>pandemia <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>Covid<span class=\"_ _0\"></span>-19 <span class=\"_ _22\"></span>ed <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>relativi <span class=\"_ _22\"></span>rischi <span class=\"_ _22\"></span>connessi <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>rimand<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>quanto <span class=\"_ _22\"></span>descritto nella <span class=\"ff5a\">Relazione sull<span class=\"ff5e\">\u2019andamento della<span class=\"_ _0\"></span></span> gestione</span>. Rischio di credito L'esposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>rischi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>sua <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>operativa <span class=\"_ _2d\"> </span>(in particolare <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>Rame). <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span>rischio <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>credito <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>definito <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>perdita <span class=\"_ _0\"></span>inaspettata <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>attivit\u00e0 finanziarie, <span class=\"_ _2b\"></span>ad <span class=\"_ _29\"></span>esempio <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>caso <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>cui <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>cliente <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>sia <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>grado <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>adempiere <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>propr<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>obblighi <span class=\"_ _29\"></span>entro <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>termini previsti.  Nell'ambito <span class=\"_ _0\"></span>dell'attivit\u00e0 <span class=\"_ _0\"></span>op<span class=\"_ _0\"></span>erativa, <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>vengono <span class=\"_ _0\"></span>monitorati <span class=\"_ _0\"></span>localment<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>su <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>tinuo <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>crediti a livello locale. Vengono registrati accantonamenti per riflettere i rischi di credito. La massima esposizione a<span class=\"_ _0\"></span><span class=\"ls9\">l </span>rischio di credito si <span class=\"_ _29\"></span>riflette nel valore <span class=\"_ _29\"></span>contabile delle attivit\u00e0 finanziarie riportate nella <span class=\"_ _29\"></span>situazione patrimoniale e <span class=\"_ _28\"></span>finanziaria.<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Il <span class=\"_ _2c\"></span>Gruppo <span class=\"_ _2c\"></span>contrasta <span class=\"_ _2c\"></span>il <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>credito <span class=\"_ _2c\"></span>monitorando <span class=\"_ _2c\"></span>costantemente <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"></span>crediti <span class=\"_ _28\"></span>verso <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"></span>partner commerciali <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>mediante <span class=\"_ _22\"></span>assicurazioni <span class=\"_ _22\"></span>atte <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>ridurre <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>minimo <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>rischio <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span>solvenza. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>ricorre <span class=\"_ _0\"></span>agli strumenti di mercato standard, come le lettere di <span class=\"_ _0\"></span>credito e le garanzie.<span class=\"_ _0\"></span> Per <span class=\"_ _0\"></span>quanto <span class=\"_ _22\"></span>riguarda <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>commerciali, <span class=\"_ _0\"></span>gr<span class=\"_ _0\"></span>an <span class=\"_ _0\"></span>parte <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>rischio <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>garantito<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>factoring. <span class=\"_ _0\"></span>Non <span class=\"_ _22\"></span>v<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>sono concentrazioni <span class=\"_ _2c\"></span>geografiche <span class=\"_ _2c\"></span>significative <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>rischio <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>credito. <span class=\"_ _2c\"> </span>La <span class=\"_ _2c\"> </span>concentrazion<span class=\"_ _0\"></span>e <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>rischio <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>credito <span class=\"_ _2c\"></span>di credito <span class=\"_ _2b\"></span>nel <span class=\"_ _2b\"></span>caso <span class=\"_ _29\"></span>dei <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>commerciali \u00e8 <span class=\"_ _2b\"></span>limitata <span class=\"_ _2b\"></span>grazie <span class=\"_ _2b\"></span>all'ampia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>eterogenea <span class=\"_ _2b\"></span>base <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>clienti. <span class=\"_ _2b\"></span> <span class=\"_ _2b\"></span>La <span class=\"_ _29\"></span>valutazione avviene <span class=\"_ _28\"></span>tramite <span class=\"_ _2c\"></span>portafogli <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>clienti <span class=\"_ _2c\"></span>sulla <span class=\"_ _2c\"></span>base <span class=\"_ _28\"></span>dell'esperienza <span class=\"_ _2c\"></span>passata, <span class=\"_ _2c\"></span>azioni <span class=\"_ _28\"></span>e/o <span class=\"_ _2c\"></span>informazioni <span class=\"_ _2c\"></span>finanziarie, nonch\u00e9 delle linee di credito. Il <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>solvibilit\u00e0 <span class=\"_ _28\"></span>derivante <span class=\"_ _28\"></span>dagli <span class=\"_ _2c\"></span>strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _28\"></span>deriv<span class=\"_ _0\"></span>ati <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>limitato <span class=\"_ _2c\"></span>dal <span class=\"_ _28\"></span>fatto <span class=\"_ _28\"></span>che <span class=\"_ _2c\"></span>i <span class=\"_ _28\"></span>relativi contratti sono stipulati esclusivamente c<span class=\"_ _0\"></span>on controparti e/o istituti di credito con<span class=\"_ _0\"></span> un rating affidabile.<span class=\"_ _0\"></span> Rischio di liquidit\u00e0<span class=\"ff57\"> </span>Il <span class=\"_ _22\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>liquidit\u00e0 <span class=\"_ _23\"></span>rappresenta <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>l'azienda <span class=\"_ _23\"></span>non <span class=\"_ _22\"></span>riesca <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>far <span class=\"_ _23\"></span>fronte <span class=\"_ _22\"></span>alle <span class=\"_ _23\"></span>proprie <span class=\"_ _22\"></span>passivit\u00e0; esso <span class=\"_ _2c\"></span>pu\u00f2 <span class=\"_ _2d\"> </span>sorgere <span class=\"_ _28\"></span>dalle <span class=\"_ _2d\"> </span>difficolt\u00e0 <span class=\"_ _2c\"></span>ad <span class=\"_ _2c\"></span>ottenere <span class=\"_ _2c\"> </span>fin<span class=\"_ _0\"></span>anziamenti <span class=\"_ _2c\"></span>a <span class=\"_ _2d\"> </span>supporto <span class=\"_ _28\"></span>delle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"></span>operative <span class=\"_ _2c\"></span>nella <span class=\"_ _2d\"> </span>giusta tempistica.  La <span class=\"_ _22\"></span>Capo<span class=\"_ _0\"></span>gruppo <span class=\"_ _23\"></span>fa <span class=\"_ _22\"></span>fronte <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>fabbisogni <span class=\"_ _23\"></span>derivanti <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>debiti <span class=\"_ _23\"></span>finanziari <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>scadenza <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>dagli <span class=\"_ _22\"></span>investimenti previsti <span class=\"_ _22\"></span>attra<span class=\"_ _0\"></span>verso <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>flussi <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>gestione <span class=\"_ _22\"></span>op<span class=\"_ _0\"></span>erativa, <span class=\"_ _22\"></span>l<span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>liquidi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _22\"></span>disponibile, <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>rinno<span class=\"_ _0\"></span>vo <span class=\"_ _22\"></span>o <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>finanziamento <span class=\"_ _23\"></span>dei prestiti bancari o l\u2019emissione di prestiti obbligazion<span class=\"_ _0\"></span>ari.<span class=\"ff56\"> </span>Per <span class=\"_ _0\"></span>le entit<span class=\"_ _0\"></span>\u00e0 <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>gruppo <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>gestione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>demandata,<span class=\"_ _0\"></span> in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>modo <span class=\"_ _0\"></span>centralizzato, alla<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>tesoreria del gruppo KME <span class=\"_ _29\"></span>che monitora <span class=\"_ _29\"></span>le necessit\u00e0 al <span class=\"_ _29\"></span>fine di <span class=\"_ _29\"></span>garantire livelli <span class=\"_ _29\"></span>adeguati di l<span class=\"_ _29\"></span>iquidit\u00e0 e coordina <span class=\"_ _29\"></span>l\u2019afflusso e deflu<span class=\"_ _0\"></span>sso <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>liquidit\u00e0. <span class=\"_ _0\"></span>La <span class=\"_ _0\"></span>disponibili<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>liquidit\u00e0 <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>garantita <span class=\"_ _0\"></span>dai <span class=\"_ _0\"></span>flussi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cassa <span class=\"_ _0\"></span>derivanti <span class=\"_ _0\"></span>dalle <span class=\"_ _0\"></span>societ\u00e0 <span class=\"_ _0\"></span>del gruppo e dalle banche con cui il gruppo ha in <span class=\"_ _0\"></span>essere linee di credito a breve e lungo termine. <span class=\"_ _22\"></span> Strettamente <span class=\"_ _28\"></span>legati <span class=\"_ _28\"> </span>al <span class=\"_ _2c\"> </span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>liquidit\u00e0 <span class=\"_ _28\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>rischi <span class=\"_ _2c\"> </span>connessi <span class=\"_ _28\"></span>all\u2019indebitamento<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2c\"></span>del <span class=\"_ _28\"></span>Gruppo: <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span><span class=\"ls1\">31 </span></span>dicembre <span class=\"_ _23\"></span><span class=\"ff5d\">2022 <span class=\"_ _23\"></span>nell\u2019ambito<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>essere <span class=\"_ _23\"></span>due <span class=\"_ _23\"></span>prestiti <span class=\"_ _23\"></span>ob<span class=\"_ _0\"></span>bligazionari <span class=\"_ _23\"></span>\u201cKME <span class=\"_ _23\"></span>Group<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>SpA <span class=\"_ _23\"></span>2020<span class=\"_ _22\"></span></span>/ 2025\u201d (nominali Euro 92,8 milioni)<span class=\"_ _0\"></span><span class=\"ff56\"> </span>e \u201cKME Group SpA 2022/<span class=\"_ _0\"></span>2027\u201d, entrambi a tasso fisso<span class=\"ff56 lsb\">. <span class=\"ls0\"> </span></span>Nel <span class=\"_ _0\"></span>corso <span class=\"_ _0\"></span>del<span class=\"_ _0\"></span>l\u2019esercizio <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>invece <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>rimbors<span class=\"_ _0\"></span><span class=\"ff56\">ato <span class=\"_ _0\"></span>anticipatamente <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>estito <span class=\"_ _0\"></span>obbligazionario <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>capo <span class=\"_ _22\"></span>a </span>KME SE. Inoltre, <span class=\"_ _2d\"> </span>su <span class=\"_ _2a\"> </span>alcune <span class=\"_ _2d\"> </span>fonti <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>finanziamento<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>ottenute <span class=\"_ _2d\"> </span>dal <span class=\"_ _2a\"> </span>Gruppo <span class=\"_ _2d\"> </span>sono <span class=\"_ _2d\"> </span>applicate <span class=\"_ _2a\"> </span>clausole <span class=\"_ _2d\"> </span>contrattuali, impegni e covenant il <span class=\"_ _29\"></span>cui mancato <span class=\"_ _29\"></span>rispetto pu\u00f2 essere <span class=\"_ _29\"></span>considerato quale inadempimento <span class=\"_ _29\"></span>cont<span class=\"_ _0\"></span>rattuale portando i <span class=\"_ _2b\"></span>soggetti<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>finanziatori a <span class=\"_ _2b\"></span>richiederne <span class=\"_ _2b\"></span>l\u2019im<span class=\"_ _0\"></span>mediata <span class=\"_ _2b\"></span>esigibi<span class=\"_ _0\"></span>lit\u00e0 <span class=\"_ _2b\"></span>e causando <span class=\"_ _2b\"></span>difficolt\u00e0 <span class=\"_ _29\"></span>nel <span class=\"_ _2b\"></span>reperire <span class=\"_ _29\"></span>risorse <span class=\"_ _2b\"></span>alternative.<span class=\"_ _0\"></span><span class=\"ff56 lsb\">  <span class=\"ls0\"> </span></span>Nella <span class=\"_ _0\"></span>gestione <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>esame, <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>ottica <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>garantire <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>dei <span class=\"_ _0\"></span>futuri <span class=\"_ _22\"></span>impegni <span class=\"_ _0\"></span>finanziari, <span class=\"_ _22\"></span>sia in linea c<span class=\"_ _0\"></span><span class=\"ff5d\">apitale che intere<span class=\"_ _0\"></span>ssi, il Grup<span class=\"_ _0\"></span>po pu\u00f2 <span class=\"_ _0\"></span>far ricorso alla <span class=\"_ _0\"></span>liquidit\u00e0 connessa al<span class=\"_ _0\"></span>l\u2019operativit\u00e0 del <span class=\"_ _0\"></span>settore rame </span>nonch\u00e9 alle risorse rivenienti dalle operazioni d<span class=\"_ _0\"></span>i valorizzazione di attivit\u00e0 non strategiche del Grup<span class=\"_ _0\"></span>po. <span class=\"_ _0\"></span> Rischio tasso di interesse Il <span class=\"_ _2b\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>di tasso <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>interesse <span class=\"_ _2b\"></span>a cui <span class=\"_ _2b\"></span>il <span class=\"_ _29\"></span>Gruppo <span class=\"_ _2b\"></span>\u00e8 principalmente <span class=\"_ _2b\"></span>esposto <span class=\"_ _29\"></span>deriva <span class=\"_ _2b\"></span>dai prestiti <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>lu<span class=\"_ _0\"></span>ngo <span class=\"_ _29\"></span>termine con <span class=\"_ _28\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>interesse <span class=\"_ _23\"></span>vari<span class=\"_ _0\"></span>abili; <span class=\"_ _28\"></span>essi <span class=\"_ _23\"></span>espong<span class=\"_ _0\"></span>ono <span class=\"_ _28\"></span>il <span class=\"_ _23\"></span>Gruppo <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>flusso <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _28\"></span>(differentemente <span class=\"_ _28\"></span>i prestiti a tasso fisso che comportano il rischio d<span class=\"_ _0\"></span>i variazione del <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span><span class=\"ls7\">).</span> Il <span class=\"_\"> </span>Gruppo <span class=\"_\"> </span>utilizza <span class=\"_ _2a\"> </span>diverse <span class=\"_\"> </span>forme <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>finanziamento <span class=\"_\"> </span>per <span class=\"_\"> </span>supportare <span class=\"_ _2a\"> </span>i <span class=\"_\"> </span>propri <span class=\"_ _2a\"> </span>investimenti. <span class=\"_\"> </span>Pertanto, variazioni <span class=\"_ _0\"></span>importanti <span class=\"_ _0\"></span>nei <span class=\"_ _0\"></span>livelli <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>tassi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>interesse <span class=\"_ _0\"></span>potrebbero <span class=\"_ _0\"></span>comportare <span class=\"_ _0\"></span>potenziali <span class=\"_ _0\"></span>incrementi/d<span class=\"_ _0\"></span>ecrementi nel costo <span class=\"_ _0\"></span>dei fina<span class=\"_ _0\"></span>nziamenti. La <span class=\"_ _0\"></span>struttura <span class=\"_ _0\"></span>finanziaria de<span class=\"_ _0\"></span>l Gruppo<span class=\"_ _0\"></span> \u00e8 attualmente <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>lo pi\u00f9 <span class=\"_ _0\"></span>orientata ai <span class=\"_ _0\"></span>tassi fis<span class=\"_ _0\"></span>si (si vedano i prestiti obbligazionari emessi).<span class=\"_ _0\"></span> L\u2019operativit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>gestio<span class=\"_ _0\"></span>ne <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _0\"></span>coordinato <span class=\"_ _23\"></span>dalla <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>ria <span class=\"_ _22\"></span>tesoreria <span class=\"_ _22\"></span>che, nell\u2019ambit<span class=\"ff56\">o <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>grup<span class=\"_ _0\"></span>po <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>SE, <span class=\"_ _22\"></span>qualora riten<span class=\"_ _0\"></span>uto <span class=\"_ _0\"></span>necessario, <span class=\"_ _0\"></span>ricorre <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>stip<span class=\"_ _0\"></span>ula <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>IRS <span class=\"_ _0\"></span>(<span class=\"_ _22\"></span><span class=\"ff5a\">Interest Ra<span class=\"_ _0\"></span>te <span class=\"_ _0\"></span>Swap<span class=\"_ _0\"></span></span><span class=\"ls1b\">) </span></span>scambiando i <span class=\"_ _29\"></span>tassi <span class=\"_ _29\"></span>d'interesse variabili <span class=\"_ _29\"></span>in tassi <span class=\"_ _2b\"></span>fissi. In base <span class=\"_ _29\"></span>alla struttura <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> finanziam<span class=\"_ _29\"></span>ento che <span class=\"_ _29\"></span>di volta<span class=\"_ _29\"></span> in <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>lta si <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esenta, <span class=\"_ _0\"></span>orientata <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _22\"></span>o <span class=\"_ _22\"></span>meno <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>b<span class=\"_ _0\"></span><span class=\"ff5d\">reve <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>medio <span class=\"_ _22\"></span>termine, <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>all\u2019andamento <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>tassi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>mercato, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>tesoreria </span>valuta se ricorrere alla stipula di IRS.<span class=\"_ _0\"></span>  Rischio di cambio  Il <span class=\"_ _2b\"></span>Gruppo <span class=\"_ _29\"></span>opera <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>liv<span class=\"_ _0\"></span>ello <span class=\"_ _2b\"></span>internazionale <span class=\"_ _2b\"></span>pr<span class=\"_ _0\"></span>incipalmente <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>tramite <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>controllate <span class=\"_ _29\"></span>afferenti <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>gr<span class=\"_ _0\"></span>uppo KME <span class=\"_ _22\"></span>SE, <span class=\"_ _22\"></span>ma <span class=\"_ _22\"></span>anche <span class=\"_ _0\"></span>attr<span class=\"_ _0\"></span>averso <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>entit\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>grup<span class=\"_ _0\"></span>po <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>conduce <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>sue <span class=\"_ _22\"></span>transazioni <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>diverse <span class=\"_ _22\"></span>valute. <span class=\"_ _22\"></span>In tali circostanze, i ricavi sono generati in valute d<span class=\"_ _0\"></span>iverse dalla valuta funzionale del Gruppo (E<span class=\"_ _0\"></span>uro)<span class=\"_ _0\"></span>.  Il <span class=\"_ _2c\"></span>Gruppo <span class=\"_ _2c\"></span>monitora <span class=\"_ _2c\"></span>e <span class=\"_ _2c\"></span>gestisce <span class=\"_ _28\"></span>op<span class=\"_ _0\"></span>portunamente <span class=\"_ _2c\"></span>tale <span class=\"_ _2c\"></span>rischio <span class=\"_ _2c\"></span>ponendosi <span class=\"_ _2c\"></span>altres\u00ec <span class=\"_ _2c\"> </span><span class=\"ff5d\">l\u2019obi<span class=\"_ _0\"></span>ettivo <span class=\"_ _2c\"> </span>di <span class=\"_ _28\"> </span>coprire <span class=\"_ _2c\"> </span>i </span>suddetti rischi utilizzando strumenti finanziari derivati <span class=\"_ _0\"></span>quali <span class=\"ff5a\">cross currency s<span class=\"_ _0\"></span>wap</span> e contratti a termine.<span class=\"_ _0\"></span> Rischio fluttuazione valore azioni<span class=\"_ _0\"></span><span class=\"ff57\"> </span>Il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>esposto <span class=\"_ _22\"></span>alle <span class=\"_ _0\"></span>fluttuazioni <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>le <span class=\"_ _0\"></span>azioni <span class=\"_ _0\"></span>qu<span class=\"_ _0\"></span>otate <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>detien<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>portafoglio <span class=\"_ _0\"></span>ed <span class=\"_ _22\"></span>alle variazioni <span class=\"_ _22\"></span>dei <span class=\"_ _0\"></span>parametri <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>mercato <span class=\"_ _22\"></span>utilizzati <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>partecipazi<span class=\"_ _0\"></span>oni <span class=\"_ _22\"></span>attraverso tecniche <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valutazione. <span class=\"_ _22\"></span>Il <span class=\"_ _22\"></span>rischio <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>oscillazion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>dei <span class=\"_ _22\"></span>valori <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>tali <span class=\"_ _22\"></span>partecipazioni <span class=\"_ _22\"></span>azionarie <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>limitato <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>\u00e8 attivamente gestito con strumenti di copertura fin<span class=\"_ _0\"></span>anziaria. Rischio fluttuazione prezzo della materia prima<span class=\"_ _0\"></span> (soprattutto rame) Come <span class=\"_ _22\"></span>conseg<span class=\"_ _0\"></span>uenza <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>sue <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>commerciali, <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>Gruppo<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span>mediante <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>gruppo <span class=\"_ _23\"></span>KME, <span class=\"_ _22\"></span>\u00e8 esposto <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>rischi <span class=\"_ _23\"></span>legati <span class=\"_ _23\"></span>ai <span class=\"_ _22\"></span>prezzi <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>materie <span class=\"_ _23\"></span>prime. <span class=\"_ _22\"></span>Tale <span class=\"_ _23\"></span>rischio <span class=\"_ _23\"></span>risulta <span class=\"_ _22\"></span>essere <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _23\"></span>significativo <span class=\"_ _23\"></span>e strategico. <span class=\"_ _0\"></span>Vengon<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>utilizzate, <span class=\"_ _0\"></span>a <span class=\"_ _22\"></span>questo <span class=\"_ _0\"></span>scopo, <span class=\"_ _22\"></span>coperture <span class=\"_ _0\"></span>con <span class=\"_ _22\"></span>transazioni <span class=\"_ _0\"></span>fisiche <span class=\"_ _22\"></span>oppure <span class=\"_ _23\"></span><span class=\"ff5a\">forward con<span class=\"_ _0\"></span>tract</span> <span class=\"_ _0\"></span>sul London Metal Exchange (LME), con<span class=\"_ _0\"></span> l\u2019obiettivo di mitigare o coprire la to<span class=\"_ _0\"></span>talit\u00e0 del rischio. I contratti posti in essere <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>concentrano<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>copertura <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>rame. <span class=\"_ _22\"></span>A <span class=\"_ _0\"></span>tal <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>quantit\u00e0 <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>metallo <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> entrata <span class=\"_ _0\"></span>e in<span class=\"_ _0\"></span> u<span class=\"_ _0\"></span>scita <span class=\"_ _0\"></span>vengono <span class=\"_ _0\"></span>compensate <span class=\"_ _22\"></span>ogni <span class=\"_ _0\"></span>giorno <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>residua <span class=\"_ _0\"></span>posizione <span class=\"_ _0\"></span>aperta <span class=\"_ _0\"></span>viene <span class=\"_ _0\"></span>compensata <span class=\"_ _0\"></span>mediant<span class=\"_ _0\"></span>e transazioni in modo <span class=\"_ _29\"></span>da annullare, <span class=\"_ _29\"></span>al termine di <span class=\"_ _2b\"></span>ogni giornata, il rischio aziendale <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>nesso all\u2019oscillazione dei prezzi <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>metalli. <span class=\"_ _22\"></span> <span class=\"_ _23\"></span>Nell\u2019ambito <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>suddette <span class=\"_ _23\"></span>transazi<span class=\"ff56\">oni <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>copertura, <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>fine <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>ridurre <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>correlati <span class=\"_ _23\"></span>rischi, <span class=\"_ _22\"></span>il </span>Gruppo opera con partner commerciali di adegu<span class=\"_ _0\"></span>ato <span class=\"ff5a\">standing</span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__84": {
   "value": "4.1.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Immobili, impianti e macchina<span class=\"_ _0\"></span>ri Il dettaglio della voce \u00e8 il seguente: (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Terreni e fabbricati 249.390  2.766  246.624  Impianti e macchinari 212.648   -<span class=\"lsd\">  </span> 212.648  Altri beni 26.524  727  25.797  Acconti e costruzioni in corso 11.395   -<span class=\"lsd\">  </span> 11.395  Immobili, impianti e macchinari 499.957  3.493  496.464  Di seguito la suddivisione tra beni di p<span class=\"_ _0\"></span>ropriet\u00e0 e beni in <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>: (in migliaia di Euro) Di propriet\u00e0 In leasing Totale Terreni e Fabbricati 245.207  4.184  249.390  Impianti e macchinari 210.435  2.212  212.648  Altri beni 20.917  5.607  26.524  Acconti e costruzioni in corso 11.395   -<span class=\"lsd\">  </span> 11.395  Immobili, impianti e macchinari 487.954  12.003  499.957  I <span class=\"_ _2b\"></span>terreni <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>fabbricati <span class=\"_ _2b\"></span>iscritti <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>quelli <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>propriet\u00e0 <span class=\"_ _2b\"></span>utilizzati <span class=\"_ _2b\"></span>dalle <span class=\"_ _29\"></span>entit\u00e0 <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Gruppo; <span class=\"_ _2b\"></span>tra <span class=\"_ _29\"></span>questi si <span class=\"_ _0\"></span>annoverano <span class=\"_ _0\"></span>gli <span class=\"_ _22\"></span>stabilimenti <span class=\"_ _0\"></span>produttivi <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>settore <span class=\"_ _22\"></span>rame <span class=\"_ _0\"></span>(tra <span class=\"_ _0\"></span>cui <span class=\"_ _22\"></span>Osnabr\u00fcck, <span class=\"_ _0\"></span>Mansfeld <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>F<span class=\"_ _0\"></span>ornaci <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Barga) <span class=\"_ _22\"></span>e l\u2019immobile <span class=\"_ _8b\"> </span>ubicato <span class=\"_ _2e\"> </span>in <span class=\"_ _2e\"> </span><span class=\"ff56\">Milano<span class=\"lsb\">, <span class=\"_ _8b\"> </span></span>Foro <span class=\"_ _2e\"> </span>Buonaparte <span class=\"_ _2e\"> </span><span class=\"ls1\">44</span>, <span class=\"_\"> </span>sede <span class=\"_ _2e\"> </span>della <span class=\"_ _8b\"> </span>Capo<span class=\"_ _0\"></span>gruppo. <span class=\"_ _8b\"> </span>La <span class=\"_ _2e\"> </span>suddivisione <span class=\"_ _8b\"> </span>per <span class=\"_ _2e\"> </span>area </span>geografica \u00e8 la seguente: Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Immobili, impianti e macchinari 171.714  259.905  68.338  499.957  Per i beni di <span class=\"ff5d\">propriet\u00e0 i movimenti dell\u2019esercizio in <span class=\"_ _0\"></span>esame sono cos\u00ec analizzabili:<span class=\"_ _0\"></span></span> Acconti e Terreni e Impianti e imm. (in migliaia di Euro) Altri beni Totale Fabbricati macchinari materiali in corso Valore lordo  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 2.270   -<span class=\"lsd\">  </span> 2.270  Ammortamenti accumulati  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.621   -<span class=\"lsd\">  </span> 1.621  Totale al 31 dicembre 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 649   -<span class=\"lsd\">  </span> 649  Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 2.270   -<span class=\"lsd\">  </span> 2.270  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 5.287  1.580  3.522  9.886  20.275  Riclassificazioni (1.014) 6.211  1.100  (3.511) 2.786  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) IFRS 10 166.443  488.511  58.167  8.105  721.226  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) KME SE 26.509  41.180  855  871  69.415  Variazioni PPA 116.923 - - - 116.923 Incrementi nel costo per diffe<span class=\"_ _29\"></span>renze di cambio (58) (108) (21)  -<span class=\"lsd\">  </span> (187) Cessioni (costo) (299) (5.248) (986) (3.956) (10.489) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 313.791  532.126  64.907  11.395  922.219  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.621   -<span class=\"lsd\">  </span> 1.621  Riclassificazioni (420) 528  179   -<span class=\"lsd\">  </span> 287  Variazione area di consolida<span class=\"_ _29\"></span>mento (f. amm.to) IFRS 64.014  299.557  39.297   -<span class=\"lsd\">  </span> 402.868  10<span class=\"ls0\"> </span>Variazione area di consolidamento (<span class=\"_ _29\"></span>f. amm.to) KME (4) 32  23   -<span class=\"lsd\">  </span> 51  SE<span class=\"ls0\"> </span>Ammortamenti, <span class=\"ff5a\">impairment </span>e <span class=\"_ _29\"></span>svalutazioni 5.426  26.024  3.833   -<span class=\"lsd\">  </span> 35.283  Incrementi negli ammortamen<span class=\"_ _29\"></span>ti per differenze di (12) (156) (51)  -<span class=\"lsd\">  </span> (219) cambio Cessioni (fondo ammortament<span class=\"_ _29\"></span>o) (419) (4.295) (911)  -<span class=\"lsd\">  </span> (5.625) Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 68.584  321.691  43.990   -<span class=\"lsd\">  </span> 434.266  Valore lordo 313.791  532.126  64.907  11.395  922.219  Ammortamenti accumulati 68.584  321.691  43.990   -<span class=\"lsd\">  </span> 434.266  Totale al 31 dicembre 2022 245.207  210.435  20.917  11.395  487.954  La <span class=\"_ _2c\"> </span>voce <span class=\"_ _2c\"> </span>\u201c<span class=\"ff56\">v</span>ariazione <span class=\"_ _2c\"> </span>area <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>consolidamento <span class=\"_ _2c\"> </span>IFRS <span class=\"_ _2c\"> </span>10\u201d <span class=\"_ _2c\"> </span>include <span class=\"_ _2c\"> </span>gli <span class=\"_ _2c\"> </span>effetti <span class=\"_ _2c\"> </span>legati <span class=\"_ _28\"> </span>alla <span class=\"_ _2c\"> </span>disapplicazion<span class=\"_ _0\"></span>e dell\u2019eccezione al consolidamento integrale p<span class=\"_ _0\"></span>revista dall\u2019<span class=\"ff56\">IFRS 10 p<span class=\"_ _0\"></span>er le <span class=\"ff5a\">investment entities</span>. </span>Al <span class=\"_ _22\"></span>31 <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>202<span class=\"_ _0\"></span><span class=\"ff5d\">2, <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>\u201cVariazione <span class=\"_ _23\"></span>area <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>SE\u201d</span> <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>esposti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>valori contabili <span class=\"_ _0\"></span>degli immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e macchinari <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Zutphen e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>centri di <span class=\"_ _0\"></span>taglio <span class=\"_ _0\"></span>nel Regn<span class=\"_ _0\"></span>o Unito, <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>Slovacchia e in Italia acquisiti da Aurubis.  I <span class=\"_ _0\"></span>terreni <span class=\"_ _0\"></span>e i <span class=\"_ _0\"></span>fa<span class=\"_ _0\"></span>bbricati, <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>bilancio <span class=\"_ _0\"></span>consolidato<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>comprendono anc<span class=\"_ _22\"></span>ora <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>immobili <span class=\"_ _0\"></span>di Osnabr\u00fcck che sono <span class=\"_ _29\"></span>stati inc<span class=\"_ _29\"></span>lusi nell'operazione <span class=\"_ _29\"></span>di Sale <span class=\"_ _29\"></span>&amp; <span class=\"_ _29\"></span>Lease back <span class=\"_ _29\"></span>realizzata <span class=\"_ _29\"></span>nel dicembre <span class=\"_ _29\"></span>2022. In <span class=\"_ _2b\"></span>base ai requisiti degli IFRS, l'operazione \u00e8 stata contabil<span class=\"_ _0\"></span>izzata riconoscendo una passivit\u00e0 finanziaria. <span class=\"_ _0\"></span> Le attivit\u00e0 materiali con <span class=\"_ _29\"></span>un valore contabile di Euro 120.789 <span class=\"_ _29\"></span>migliaia sono utilizzate come <span class=\"_ _29\"></span>garanzia per le passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>legate <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>finanzi<span class=\"_ _0\"></span>amenti <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span><span class=\"ff5a ls1\">pool</span>; <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>relative <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _0\"></span>garantite <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>valutate pari <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _23\"></span>349.668 <span class=\"_ _23\"></span>migliaia <span class=\"_ _22\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>bilancio<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>Euro <span class=\"_ _23\"></span>330.868 <span class=\"_ _22\"></span>migliaia <span class=\"_ _23\"></span>utilizzate <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>er lettere di credito a fronte di <span class=\"_ _0\"></span>passivit\u00e0 iscritte nei debiti commerciali <span class=\"_ _0\"></span>che sono <span class=\"ff5d\">legate all\u2019acquisto <span class=\"_ _0\"></span>di metalli</span>. Gli immobili, <span class=\"_ _0\"></span>gli impianti e <span class=\"_ _0\"></span>le attrezzature <span class=\"_ _0\"></span>soggetti <span class=\"_ _0\"></span>ad ammortamento <span class=\"_ _0\"></span>sono generalmente <span class=\"_ _0\"></span>am<span class=\"_ _0\"></span>mortizzati a quote costanti; l'ammortamento iscritto si basa sulle seguenti <span class=\"_ _0\"></span>vite utili medie:<span class=\"_ _0\"></span> Vita utile Fabbricati da 25 a 50 anni Impianti e macchinari da 10 a 40 anni Altri beni da 5 a 15 anni Con riferimento ai beni in <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span> la movimentazione \u00e8 stata la seguente:<span class=\"_ _0\"></span> Acconti e Terreni e Impianti e imm. (in migliaia di Euro) Altri beni Totale Fabbricati macchinari materiali in corso Valore lordo 4.592   -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span> 4.722  Ammortamenti accumulati 1.826   -<span class=\"lsd\">  </span> 52   -<span class=\"lsd\">  </span> 1.878  Totale al 31 dicembre 2021 2.766   -<span class=\"lsd\">  </span> 78   -<span class=\"lsd\">  </span> 2.844  Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021 4.592   -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span> 4.722  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 221   -<span class=\"lsd\">  </span> 22   -<span class=\"lsd\">  </span> 243  Riclassificazioni  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Variazione area di consolidamento (c<span class=\"_ _29\"></span>osto) IFRS 10 4.129  3.230  14.099   -<span class=\"lsd\">  </span> 21.458  Incrementi nel costo per diffe<span class=\"_ _29\"></span>renze di cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Cessioni (costo) (110)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (110) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 8.832  3.230  14.251   -<span class=\"lsd\">  </span> 26.313  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021 1.826   -<span class=\"lsd\">  </span> 52   -<span class=\"lsd\">  </span> 1.878  Riclassificazioni  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Variazione area di consolida<span class=\"_ _29\"></span>mento (f. amm.to) IFRS 2.415  989  8.308   -<span class=\"lsd\">  </span> 11.712  10<span class=\"ls0\"> </span>Ammortamenti, impairme<span class=\"_ _29\"></span>nt e svalutazioni 407  28  284   -<span class=\"lsd\">  </span> 719  Incrementi negli ammortamen<span class=\"_ _29\"></span>ti per differenze di  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>cambio Cessioni (fondo ammortament<span class=\"_ _29\"></span>o)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 4.648  1.018  8.644   -<span class=\"lsd\">  </span> 14.309  Valore lordo 8.832  3.230  14.251   -<span class=\"lsd\">  </span> 26.313  Ammortamenti accumulati 4.648  1.018  8.644   -<span class=\"lsd\">  </span> 14.309  Totale al 31 dicembre 2022 4.184  2.212  5.607   -<span class=\"lsd\">  </span> 12.003  Al 31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>sottovoce <span class=\"_ _0\"></span>\u201cImpianti <span class=\"_ _0\"></span>e macchi<span class=\"_ _0\"></span>nari\u201d <span class=\"_ _0\"></span><span class=\"ff56\">includ<span class=\"_ _0\"></span>e Euro <span class=\"_ _0\"></span>165 <span class=\"_ _0\"></span>migliaia <span class=\"_ _0\"></span>relativi <span class=\"_ _0\"></span>a leasing<span class=\"_ _0\"></span> </span>finanziari <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>dello<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>IAS <span class=\"_ _22\"></span>17<span class=\"_ _0\"></span>. <span class=\"_ _22\"></span>Si <span class=\"_ _22\"></span>precisa <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>che <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _22\"></span>\u201cAttivit\u00e0 <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>correnti detenute <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _28\"></span>vendita\u201d <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>inclusi <span class=\"_ _28\"></span>diritti <span class=\"_ _28\"></span>d\u2019uso <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>365 <span class=\"_ _28\"></span>migliaia. <span class=\"_ _28\"></span>L\u2019ammontare <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>beni <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>l<span class=\"_ _22\"></span><span class=\"ff56\">easing </span>rappresenta <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span>valore <span class=\"_ _8b\"> </span>dei <span class=\"_ _2e\"> </span>diritti <span class=\"_\"> </span>d'uso <span class=\"_ _8b\"> </span>relativi <span class=\"_ _8b\"> </span>a <span class=\"_ _8b\"> </span>contratti <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>locazione/nolegg<span class=\"_ _0\"></span>io <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>immobili, <span class=\"_ _8b\"> </span>impianti <span class=\"_ _8b\"> </span>e macchinari; <span class=\"_ _23\"></span>nella <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _23\"></span>\u201cdebiti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie\u201d <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>iscritte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>corrispondenti <span class=\"_ _23\"></span>passivit\u00e0. <span class=\"_ _23\"></span>Gli <span class=\"_ _22\"></span>effetti <span class=\"_ _23\"></span>di conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>iscritti <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>interessi <span class=\"_ _23\"></span>passivi <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>oneri <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>anziari <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>ammortamenti <span class=\"_ _0\"></span>nel <span class=\"_ _23\"></span>conto economico <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>solidato. <span class=\"_ _29\"></span>I <span class=\"_ _2b\"></span>contratti <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>locazione/noleggio a <span class=\"_ _2b\"></span>breve <span class=\"_ _2b\"></span>termine non <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>tabilizzati <span class=\"_ _2b\"></span>nella presente voce ma tra gli \u201cAltri costi operativi\u201d.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__83": {
   "value": "4.1.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Immobili, impianti e macchina<span class=\"_ _0\"></span>ri Il dettaglio della voce \u00e8 il seguente: (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Terreni e fabbricati 249.390  2.766  246.624  Impianti e macchinari 212.648   -<span class=\"lsd\">  </span> 212.648  Altri beni 26.524  727  25.797  Acconti e costruzioni in corso 11.395   -<span class=\"lsd\">  </span> 11.395  Immobili, impianti e macchinari 499.957  3.493  496.464  Di seguito la suddivisione tra beni di p<span class=\"_ _0\"></span>ropriet\u00e0 e beni in <span class=\"_ _0\"></span><span class=\"ff5a\">leasing</span>: (in migliaia di Euro) Di propriet\u00e0 In leasing Totale Terreni e Fabbricati 245.207  4.184  249.390  Impianti e macchinari 210.435  2.212  212.648  Altri beni 20.917  5.607  26.524  Acconti e costruzioni in corso 11.395   -<span class=\"lsd\">  </span> 11.395  Immobili, impianti e macchinari 487.954  12.003  499.957  I <span class=\"_ _2b\"></span>terreni <span class=\"_ _2b\"></span>e <span class=\"_ _29\"></span>fabbricati <span class=\"_ _2b\"></span>iscritti <span class=\"_ _2b\"></span>nella <span class=\"_ _2b\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>quelli <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>propriet\u00e0 <span class=\"_ _2b\"></span>utilizzati <span class=\"_ _2b\"></span>dalle <span class=\"_ _29\"></span>entit\u00e0 <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Gruppo; <span class=\"_ _2b\"></span>tra <span class=\"_ _29\"></span>questi si <span class=\"_ _0\"></span>annoverano <span class=\"_ _0\"></span>gli <span class=\"_ _22\"></span>stabilimenti <span class=\"_ _0\"></span>produttivi <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>settore <span class=\"_ _22\"></span>rame <span class=\"_ _0\"></span>(tra <span class=\"_ _0\"></span>cui <span class=\"_ _22\"></span>Osnabr\u00fcck, <span class=\"_ _0\"></span>Mansfeld <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>F<span class=\"_ _0\"></span>ornaci <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Barga) <span class=\"_ _22\"></span>e l\u2019immobile <span class=\"_ _8b\"> </span>ubicato <span class=\"_ _2e\"> </span>in <span class=\"_ _2e\"> </span><span class=\"ff56\">Milano<span class=\"lsb\">, <span class=\"_ _8b\"> </span></span>Foro <span class=\"_ _2e\"> </span>Buonaparte <span class=\"_ _2e\"> </span><span class=\"ls1\">44</span>, <span class=\"_\"> </span>sede <span class=\"_ _2e\"> </span>della <span class=\"_ _8b\"> </span>Capo<span class=\"_ _0\"></span>gruppo. <span class=\"_ _8b\"> </span>La <span class=\"_ _2e\"> </span>suddivisione <span class=\"_ _8b\"> </span>per <span class=\"_ _2e\"> </span>area </span>geografica \u00e8 la seguente: Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Immobili, impianti e macchinari 171.714  259.905  68.338  499.957  Per i beni di <span class=\"ff5d\">propriet\u00e0 i movimenti dell\u2019esercizio in <span class=\"_ _0\"></span>esame sono cos\u00ec analizzabili:<span class=\"_ _0\"></span></span> Acconti e Terreni e Impianti e imm. (in migliaia di Euro) Altri beni Totale Fabbricati macchinari materiali in corso Valore lordo  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 2.270   -<span class=\"lsd\">  </span> 2.270  Ammortamenti accumulati  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.621   -<span class=\"lsd\">  </span> 1.621  Totale al 31 dicembre 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 649   -<span class=\"lsd\">  </span> 649  Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 2.270   -<span class=\"lsd\">  </span> 2.270  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 5.287  1.580  3.522  9.886  20.275  Riclassificazioni (1.014) 6.211  1.100  (3.511) 2.786  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) IFRS 10 166.443  488.511  58.167  8.105  721.226  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) KME SE 26.509  41.180  855  871  69.415  Variazioni PPA 116.923 - - - 116.923 Incrementi nel costo per diffe<span class=\"_ _29\"></span>renze di cambio (58) (108) (21)  -<span class=\"lsd\">  </span> (187) Cessioni (costo) (299) (5.248) (986) (3.956) (10.489) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 313.791  532.126  64.907  11.395  922.219  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.621   -<span class=\"lsd\">  </span> 1.621  Riclassificazioni (420) 528  179   -<span class=\"lsd\">  </span> 287  Variazione area di consolida<span class=\"_ _29\"></span>mento (f. amm.to) IFRS 64.014  299.557  39.297   -<span class=\"lsd\">  </span> 402.868  10<span class=\"ls0\"> </span>Variazione area di consolidamento (<span class=\"_ _29\"></span>f. amm.to) KME (4) 32  23   -<span class=\"lsd\">  </span> 51  SE<span class=\"ls0\"> </span>Ammortamenti, <span class=\"ff5a\">impairment </span>e <span class=\"_ _29\"></span>svalutazioni 5.426  26.024  3.833   -<span class=\"lsd\">  </span> 35.283  Incrementi negli ammortamen<span class=\"_ _29\"></span>ti per differenze di (12) (156) (51)  -<span class=\"lsd\">  </span> (219) cambio Cessioni (fondo ammortament<span class=\"_ _29\"></span>o) (419) (4.295) (911)  -<span class=\"lsd\">  </span> (5.625) Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 68.584  321.691  43.990   -<span class=\"lsd\">  </span> 434.266  Valore lordo 313.791  532.126  64.907  11.395  922.219  Ammortamenti accumulati 68.584  321.691  43.990   -<span class=\"lsd\">  </span> 434.266  Totale al 31 dicembre 2022 245.207  210.435  20.917  11.395  487.954  La <span class=\"_ _2c\"> </span>voce <span class=\"_ _2c\"> </span>\u201c<span class=\"ff56\">v</span>ariazione <span class=\"_ _2c\"> </span>area <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>consolidamento <span class=\"_ _2c\"> </span>IFRS <span class=\"_ _2c\"> </span>10\u201d <span class=\"_ _2c\"> </span>include <span class=\"_ _2c\"> </span>gli <span class=\"_ _2c\"> </span>effetti <span class=\"_ _2c\"> </span>legati <span class=\"_ _28\"> </span>alla <span class=\"_ _2c\"> </span>disapplicazion<span class=\"_ _0\"></span>e dell\u2019eccezione al consolidamento integrale p<span class=\"_ _0\"></span>revista dall\u2019<span class=\"ff56\">IFRS 10 p<span class=\"_ _0\"></span>er le <span class=\"ff5a\">investment entities</span>. </span>Al <span class=\"_ _22\"></span>31 <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>202<span class=\"_ _0\"></span><span class=\"ff5d\">2, <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>\u201cVariazione <span class=\"_ _23\"></span>area <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>con<span class=\"_ _0\"></span>solidamento <span class=\"_ _22\"></span>KME <span class=\"_ _23\"></span>SE\u201d</span> <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>esposti <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>valori contabili <span class=\"_ _0\"></span>degli immobili, <span class=\"_ _0\"></span>impianti <span class=\"_ _0\"></span>e macchinari <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Zutphen e <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>centri di <span class=\"_ _0\"></span>taglio <span class=\"_ _0\"></span>nel Regn<span class=\"_ _0\"></span>o Unito, <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>Slovacchia e in Italia acquisiti da Aurubis.  I <span class=\"_ _0\"></span>terreni <span class=\"_ _0\"></span>e i <span class=\"_ _0\"></span>fa<span class=\"_ _0\"></span>bbricati, <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>bilancio <span class=\"_ _0\"></span>consolidato<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>comprendono anc<span class=\"_ _22\"></span>ora <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>immobili <span class=\"_ _0\"></span>di Osnabr\u00fcck che sono <span class=\"_ _29\"></span>stati inc<span class=\"_ _29\"></span>lusi nell'operazione <span class=\"_ _29\"></span>di Sale <span class=\"_ _29\"></span>&amp; <span class=\"_ _29\"></span>Lease back <span class=\"_ _29\"></span>realizzata <span class=\"_ _29\"></span>nel dicembre <span class=\"_ _29\"></span>2022. In <span class=\"_ _2b\"></span>base ai requisiti degli IFRS, l'operazione \u00e8 stata contabil<span class=\"_ _0\"></span>izzata riconoscendo una passivit\u00e0 finanziaria. <span class=\"_ _0\"></span> Le attivit\u00e0 materiali con <span class=\"_ _29\"></span>un valore contabile di Euro 120.789 <span class=\"_ _29\"></span>migliaia sono utilizzate come <span class=\"_ _29\"></span>garanzia per le passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _0\"></span>finanziarie <span class=\"_ _0\"></span>legate <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>finanzi<span class=\"_ _0\"></span>amenti <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span><span class=\"ff5a ls1\">pool</span>; <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>relative <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>fina<span class=\"_ _0\"></span>nziarie <span class=\"_ _0\"></span>garantite <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>valutate pari <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _23\"></span>349.668 <span class=\"_ _23\"></span>migliaia <span class=\"_ _22\"></span>alla <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>chiusura <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>bilancio<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>Euro <span class=\"_ _23\"></span>330.868 <span class=\"_ _22\"></span>migliaia <span class=\"_ _23\"></span>utilizzate <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>er lettere di credito a fronte di <span class=\"_ _0\"></span>passivit\u00e0 iscritte nei debiti commerciali <span class=\"_ _0\"></span>che sono <span class=\"ff5d\">legate all\u2019acquisto <span class=\"_ _0\"></span>di metalli</span>. Gli immobili, <span class=\"_ _0\"></span>gli impianti e <span class=\"_ _0\"></span>le attrezzature <span class=\"_ _0\"></span>soggetti <span class=\"_ _0\"></span>ad ammortamento <span class=\"_ _0\"></span>sono generalmente <span class=\"_ _0\"></span>am<span class=\"_ _0\"></span>mortizzati a quote costanti; l'ammortamento iscritto si basa sulle seguenti <span class=\"_ _0\"></span>vite utili medie:<span class=\"_ _0\"></span> Vita utile Fabbricati da 25 a 50 anni Impianti e macchinari da 10 a 40 anni Altri beni da 5 a 15 anni Con riferimento ai beni in <span class=\"ff5a\">leasing<span class=\"_ _0\"></span></span> la movimentazione \u00e8 stata la seguente:<span class=\"_ _0\"></span> Acconti e Terreni e Impianti e imm. (in migliaia di Euro) Altri beni Totale Fabbricati macchinari materiali in corso Valore lordo 4.592   -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span> 4.722  Ammortamenti accumulati 1.826   -<span class=\"lsd\">  </span> 52   -<span class=\"lsd\">  </span> 1.878  Totale al 31 dicembre 2021 2.766   -<span class=\"lsd\">  </span> 78   -<span class=\"lsd\">  </span> 2.844  Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021 4.592   -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span> 4.722  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 221   -<span class=\"lsd\">  </span> 22   -<span class=\"lsd\">  </span> 243  Riclassificazioni  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Variazione area di consolidamento (c<span class=\"_ _29\"></span>osto) IFRS 10 4.129  3.230  14.099   -<span class=\"lsd\">  </span> 21.458  Incrementi nel costo per diffe<span class=\"_ _29\"></span>renze di cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Cessioni (costo) (110)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (110) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 8.832  3.230  14.251   -<span class=\"lsd\">  </span> 26.313  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021 1.826   -<span class=\"lsd\">  </span> 52   -<span class=\"lsd\">  </span> 1.878  Riclassificazioni  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Variazione area di consolida<span class=\"_ _29\"></span>mento (f. amm.to) IFRS 2.415  989  8.308   -<span class=\"lsd\">  </span> 11.712  10<span class=\"ls0\"> </span>Ammortamenti, impairme<span class=\"_ _29\"></span>nt e svalutazioni 407  28  284   -<span class=\"lsd\">  </span> 719  Incrementi negli ammortamen<span class=\"_ _29\"></span>ti per differenze di  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>cambio Cessioni (fondo ammortament<span class=\"_ _29\"></span>o)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 4.648  1.018  8.644   -<span class=\"lsd\">  </span> 14.309  Valore lordo 8.832  3.230  14.251   -<span class=\"lsd\">  </span> 26.313  Ammortamenti accumulati 4.648  1.018  8.644   -<span class=\"lsd\">  </span> 14.309  Totale al 31 dicembre 2022 4.184  2.212  5.607   -<span class=\"lsd\">  </span> 12.003  Al 31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>sottovoce <span class=\"_ _0\"></span>\u201cImpianti <span class=\"_ _0\"></span>e macchi<span class=\"_ _0\"></span>nari\u201d <span class=\"_ _0\"></span><span class=\"ff56\">includ<span class=\"_ _0\"></span>e Euro <span class=\"_ _0\"></span>165 <span class=\"_ _0\"></span>migliaia <span class=\"_ _0\"></span>relativi <span class=\"_ _0\"></span>a leasing<span class=\"_ _0\"></span> </span>finanziari <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>dello<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>IAS <span class=\"_ _22\"></span>17<span class=\"_ _0\"></span>. <span class=\"_ _22\"></span>Si <span class=\"_ _22\"></span>precisa <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>che <span class=\"_ _0\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>nella <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _22\"></span>\u201cAttivit\u00e0 <span class=\"_ _22\"></span>non <span class=\"_ _23\"></span>correnti detenute <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _28\"></span>vendita\u201d <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>inclusi <span class=\"_ _28\"></span>diritti <span class=\"_ _28\"></span>d\u2019uso <span class=\"_ _28\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _28\"></span>365 <span class=\"_ _28\"></span>migliaia. <span class=\"_ _28\"></span>L\u2019ammontare <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>beni <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>l<span class=\"_ _22\"></span><span class=\"ff56\">easing </span>rappresenta <span class=\"_\"> </span>il <span class=\"_ _8b\"> </span>valore <span class=\"_ _8b\"> </span>dei <span class=\"_ _2e\"> </span>diritti <span class=\"_\"> </span>d'uso <span class=\"_ _8b\"> </span>relativi <span class=\"_ _8b\"> </span>a <span class=\"_ _8b\"> </span>contratti <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>locazione/nolegg<span class=\"_ _0\"></span>io <span class=\"_\"> </span>di <span class=\"_ _8b\"> </span>immobili, <span class=\"_ _8b\"> </span>impianti <span class=\"_ _8b\"> </span>e macchinari; <span class=\"_ _23\"></span>nella <span class=\"_ _22\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _23\"></span>\u201cdebiti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie\u201d <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>iscritte <span class=\"_ _22\"></span>le <span class=\"_ _23\"></span>corrispondenti <span class=\"_ _23\"></span>passivit\u00e0. <span class=\"_ _23\"></span>Gli <span class=\"_ _22\"></span>effetti <span class=\"_ _23\"></span>di conto <span class=\"_ _22\"></span>economico <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>iscritti <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>interessi <span class=\"_ _23\"></span>passivi <span class=\"_ _22\"></span>tra <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>oneri <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>anziari <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>ammortamenti <span class=\"_ _0\"></span>nel <span class=\"_ _23\"></span>conto economico <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>solidato. <span class=\"_ _29\"></span>I <span class=\"_ _2b\"></span>contratti <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>locazione/noleggio a <span class=\"_ _2b\"></span>breve <span class=\"_ _2b\"></span>termine non <span class=\"_ _2b\"></span>sono <span class=\"_ _2b\"></span>con<span class=\"_ _0\"></span>tabilizzati <span class=\"_ _2b\"></span>nella presente voce ma tra gli \u201cAltri costi operativi\u201d.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__85": {
   "value": "4.2.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Investimenti immobiliari Rispetto <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"></span>31 <span class=\"_ _2c\"> </span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _2c\"></span>2021 <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"></span>voce <span class=\"_ _2d\"> </span>si <span class=\"_ _2c\"></span>incrementa <span class=\"_ _2d\"> </span>significativamente <span class=\"_ _2c\"></span>per <span class=\"_ _2d\"> </span>effetto <span class=\"_ _2c\"></span>della <span class=\"_ _2d\"> </span>variazione dell\u2019area <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>relativa <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>gruppo <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE; <span class=\"_ _23\"></span>trattasi <span class=\"_ _28\"> </span>di <span class=\"_ _28\"></span>terreni <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>fabbricati <span class=\"_ _23\"></span>po<span class=\"_ _0\"></span>sseduti <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>fine <span class=\"_ _28\"></span>di percepire <span class=\"_ _2f\"> </span>cano<span class=\"_ _0\"></span>ni <span class=\"_ _2f\"> </span>d'affitto <span class=\"_ _41\"> </span>o <span class=\"_ _41\"> </span>per <span class=\"_ _2f\"> </span>l'apprezzamen<span class=\"_ _0\"></span>to <span class=\"_ _41\"> </span>del <span class=\"_ _41\"> </span>capitale <span class=\"_ _41\"> </span>investito <span class=\"_ _2f\"> </span>che <span class=\"_ _41\"> </span>originano <span class=\"_ _41\"> </span>flussi <span class=\"_ _2f\"> </span>fin<span class=\"_ _0\"></span>anziari indipendenti dalle altre attivit\u00e0 possedute dalle entit\u00e0 del Grupp<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span>. (in migliaia di Euro) Totale al 31 dicembre 2021 32  Variazione per area di cons<span class=\"_ _29\"></span>olidamento IFRS 10 71.573  Incrementi <span class=\"ff5d\">dell\u2019esercizio</span> 1.<span class=\"ls0\">231  </span>Variazioni PPA (1.811) Riclassificazioni (2.200) Rettifiche di <span class=\"ff5a\">fair value</span> (650) Totale al 31 dicembre 2022 68.175  Di seguito la ripartizione per area geografica:<span class=\"_ _0\"></span> Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Investimenti immobiliari 60.223  7.952   -<span class=\"lsd\">  </span> 68.175  La voce comprende una serie di complessi immobiliari principalmente afferenti alle con<span class=\"_ _0\"></span>trollate italiane attive <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>settore <span class=\"_ _23\"></span>immobiliare <span class=\"_ _22\"></span>(Immobiliare <span class=\"_ _23\"></span>Pictea <span class=\"_ _23\"></span>Srl <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>Natural <span class=\"_ _22\"></span>Capital <span class=\"_ _28\"></span>Italia <span class=\"_ _22\"></span>S<span class=\"_ _0\"></span>B <span class=\"_ _23\"></span>SpA) <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>include <span class=\"_ _22\"></span>complessi<span class=\"_ _0\"></span> immobiliari <span class=\"_\"> </span>di <span class=\"_\"> </span>Varedo/Limbiate <span class=\"_\"> </span>(MB), <span class=\"_\"> </span>di <span class=\"_\"> </span>Ivrea <span class=\"_\"> </span>(TO) <span class=\"_\"> </span>e <span class=\"_\"> </span>di <span class=\"_\"> </span>Limestre<span class=\"_ _29\"></span> <span class=\"_\"> </span>(PT), <span class=\"_\"> </span>una <span class=\"_\"> </span>porzione <span class=\"_\"> </span>del <span class=\"_\"> </span>complesso industriale <span class=\"_ _2b\"></span>sito <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>Fornaci <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Barga <span class=\"_ _2b\"></span>(LU), <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>fabbricato <span class=\"_ _2b\"></span>ubicato <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>Firenze <span class=\"_ _29\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> <span class=\"_ _2b\"></span>gravato <span class=\"_ _2b\"></span>da <span class=\"_ _2b\"></span>ipoteca <span class=\"_ _29\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> <span class=\"_ _2b\"></span>ed <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>complesso </span></span></span></span>industriale <span class=\"_ _23\"></span>sito <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>Serravalle <span class=\"_ _23\"></span>Scrivia <span class=\"_ _22\"></span>(AL) <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>terreni <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>fabbricati <span class=\"_ _23\"></span>appartenenti <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Grundst\u00fccksgesells<span class=\"_ _0\"></span>chaft SE &amp; Co. KG in Germania.<span class=\"_ _0\"></span> Il valore degli <span class=\"_ _0\"></span>investimenti immobiliari r<span class=\"_ _0\"></span>appresenta i<span class=\"_ _0\"></span><span class=\"ls9\">l </span><span class=\"ff5a\">fair valu<span class=\"_ _0\"></span>e</span> identificato <span class=\"_ _0\"></span>dagli Amminsitratori <span class=\"_ _0\"></span>sulla base <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>valutazioni <span class=\"_\"> </span>effettuate <span class=\"_\"> </span>da <span class=\"_ _2a\"> </span>esperti <span class=\"_\"> </span>este<span class=\"_ _29\"></span>rni <span class=\"_\"> </span>indipendenti <span class=\"_\"> </span>con <span class=\"_ _2a\"> </span>qualifiche <span class=\"_\"> </span>professionali <span class=\"_ _2a\"> </span>riconosciute <span class=\"_\"> </span>e pertinenti, oppure di <span class=\"_ _29\"></span>valutazioni effettuate da <span class=\"_ _29\"></span>personale tecnico <span class=\"_ _29\"></span>della societ\u00e0. <span class=\"_ _29\"></span>Le variazioni del <span class=\"ff5a\">fair val<span class=\"_ _29\"></span>ue<span class=\"ff56\"> sono </span></span>registrate <span class=\"_ _0\"></span>nell'utile <span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>perdita <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>esercizio; <span class=\"_ _0\"></span>tale <span class=\"_ _0\"></span><span class=\"ff5a ls9\">fa<span class=\"_ _0\"></span><span class=\"ls0\">ir <span class=\"_ _0\"></span>value</span></span> <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>\u00e8 basato <span class=\"_ _22\"></span>su dati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>mercato <span class=\"_ _0\"></span>osservabili <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>\u00e8 classificato come <span class=\"ff5a\">fair value</span> di<span class=\"_ _0\"></span> livello 3, che venga misurato su base rego<span class=\"_ _0\"></span>lare. Il <span class=\"_ _22\"></span>mod<span class=\"_ _0\"></span>ello <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>valutazione <span class=\"_ _23\"></span>prende <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>considerazione <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>attuale <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>flusso <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>generato dagli <span class=\"_ _22\"></span>immobili<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>includendo <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>previsto <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>aumento <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>canoni <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>locazione, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>perio<span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>sfitto, <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>tassi <span class=\"_ _22\"></span>di occupazione, <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>degli <span class=\"_ _22\"></span>incentivi <span class=\"_ _0\"></span>agli <span class=\"_ _22\"></span>inquilini, <span class=\"_ _0\"></span>ad <span class=\"_ _0\"></span>esempio <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>periodi <span class=\"_ _22\"></span>senza <span class=\"_ _0\"></span>canone, <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>tutti <span class=\"_ _0\"></span>gli <span class=\"_ _0\"></span>altri <span class=\"_ _22\"></span>costi <span class=\"_ _0\"></span>che non <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>coperti <span class=\"_ _22\"></span>dagli <span class=\"_ _23\"></span>inquilini. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>flusso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>cassa <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>previsto <span class=\"_ _23\"></span>viene <span class=\"_ _22\"></span>attualizz<span class=\"_ _0\"></span>ato <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto corretti <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio<span class=\"_ _0\"></span>. <span class=\"_ _23\"></span>Oltre <span class=\"_ _23\"></span>ad <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>fattori, <span class=\"_ _28\"></span>nella <span class=\"_ _23\"></span>valutazione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>sconto <span class=\"_ _28\"></span>si <span class=\"_ _23\"></span>tiene <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>della <span class=\"_ _23\"></span>qu<span class=\"_ _0\"></span>alit\u00e0 dell'edificio <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"></span>della <span class=\"_ _2d\"> </span>sua <span class=\"_ _2c\"> </span>ubicazione, <span class=\"_ _2d\"> </span>dell'affidabilit\u00e0 <span class=\"_ _2d\"> </span>creditizia <span class=\"_ _2c\"></span>d<span class=\"_ _0\"></span>ell'inquilino <span class=\"_ _2d\"> </span>e <span class=\"_ _2c\"> </span>della <span class=\"_ _2d\"> </span>durata <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>rapporto <span class=\"_ _2d\"> </span>di locazione. Ad <span class=\"_ _29\"></span>esempio, il <span class=\"_ _29\"></span><span class=\"ff5a\">fair value<span class=\"ff56\"> <span class=\"_ _29\"></span>stimato <span class=\"_ _29\"></span>aumenterebbe (diminuirebbe) se <span class=\"_ _2b\"></span>l'aumento previsto degli affitti <span class=\"_ _2b\"></span>di </span></span>mercato <span class=\"_ _29\"></span>fosse <span class=\"_ _29\"></span>pi\u00f9 <span class=\"_ _29\"></span>alto <span class=\"_ _29\"></span>(pi\u00f9 <span class=\"_ _2b\"></span>basso), se <span class=\"_ _29\"></span>i <span class=\"_ _2b\"></span>perio<span class=\"_ _0\"></span>di di <span class=\"_ _2b\"></span>sfitto <span class=\"_ _29\"></span>fossero <span class=\"_ _29\"></span>pi\u00f9 <span class=\"_ _29\"></span>brevi <span class=\"_ _29\"></span>(pi\u00f9 <span class=\"_ _29\"></span>lunghi), <span class=\"_ _29\"></span>se <span class=\"_ _2b\"></span>il tasso di <span class=\"_ _2b\"></span>occupazione fosse pi\u00f9 alto (pi\u00f9 basso) e se il tasso di sconto corretto per il<span class=\"_ _0\"></span> rischio fosse pi\u00f9 basso (pi\u00f9 alto).<span class=\"_ _0\"></span> I <span class=\"_ _2d\"> </span>pagamenti <span class=\"_ _2d\"> </span>minimi <span class=\"_ _2c\"> </span>fu<span class=\"_ _0\"></span>turi <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>ricevere <span class=\"_ _2c\"> </span>per <span class=\"_ _2d\"> </span>contratti <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>affitto <span class=\"_ _2d\"> </span>non <span class=\"_ _2d\"> </span>annullabili <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 ammontano ad Euro 1,1 milioni (entr<span class=\"_ _0\"></span><span class=\"ff5d\">o l\u2019anno) e 2 milioni nell\u2019o<span class=\"_ _0\"></span>rizzonte temporale tra uno e cinque anni.<span class=\"_ _0\"></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentPropertyExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__88": {
   "value": "4.3.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Attivit\u00e0 immateriali (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Software<span class=\"ff56\">, brevetti e licenze </span>23.515   -<span class=\"lsd\">  </span> 23.515  Acconti e costruzioni in corso 2.184   -<span class=\"lsd\">  </span> 2.184  Altre 28.049  12  28.037  Avviamento 370.316   -<span class=\"lsd\">  </span> 370.316  Attivit\u00e0 immateriali 424.064  12  424.052  Nel corso dell\u2019esercizio <span class=\"ff56\">le movimentazioni so<span class=\"_ _0\"></span>no cos\u00ec analizzabili: </span>Software, Imm. (in migliaia di Euro) brevetti e immateriali  Altre Avviamento Totale licenze in corso Valore lordo  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 30   -<span class=\"lsd\">  </span> 30  Ammortamenti accumulati  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 18   -<span class=\"lsd\">  </span> 18  Totale al 31 dicembre 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 12   -<span class=\"lsd\">  </span> 12<span class=\"ls0\">  </span>Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 30   -<span class=\"lsd\">  </span> 30  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 388  305  268  250  1.211  Riclassificazioni 146  839   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 985  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) IFRS 10 33.560  1.134  655  479.516  514.865  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) KME SE 688   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 688  Variazioni PPA 9.031   -<span class=\"lsd\">  </span> 29.530  (109.450) (70.889) Decrementi (costo) (222) (94)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (316) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 43.591  2.184  30.483  370.316  446.574  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021  -<span class=\"lsd\">  </span> 2.976  18  199.368  202.362  Variazione area di consolida<span class=\"_ _29\"></span>mento (fondo) IFRS 10 17.525   -<span class=\"lsd\">  </span> 320   -<span class=\"lsd\">  </span> 17.845  Variazione area di consolida<span class=\"_ _29\"></span>mento (fondo) KME SE  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Ammortamenti,<span class=\"ff5a\"> impairment</span> e <span class=\"_ _29\"></span>svalutazioni 1.652   -<span class=\"lsd\">  </span> 2.096   -<span class=\"lsd\">  </span> 3.748  Riclassificazioni 1.009   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.009  Decrementi (fondo amm<span class=\"_ _29\"></span>ortamento) (110)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (110) Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 20.076   -<span class=\"lsd\">  </span> 2.434   -<span class=\"lsd\">  </span> 22.510  Valore lordo 43.591  2.184  30.483  370.316  446.574  Ammortamenti accumulati 20.076   -<span class=\"lsd\">  </span> 2.434   -<span class=\"lsd\">  </span> 22.510  Totale al 31 dicembre 2022 23.515  2.184  28.049  370.316  424.064  La <span class=\"_ _2b\"></span>voce, <span class=\"_ _2b\"></span>rico<span class=\"_ _0\"></span>nducibile <span class=\"_ _2b\"></span>principalmente<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>a<span class=\"ff5d\">l <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>degli <span class=\"_ _2b\"></span>avviamenti, <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>incrementa <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"ff56\">in <span class=\"_ _2b\"></span>esame </span></span>a fronte del primo consolidamento delle controllate KME SE e <span class=\"_ _0\"></span>CULTI Milano, avvenuto al 30 aprile 2022, in applicazione <span class=\"_ _2b\"></span>delle previsioni <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>paragrafo <span class=\"_ _2b\"></span>B100 <span class=\"_ _29\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>10 e <span class=\"_ _2b\"></span>quindi <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>requisiti <span class=\"_ _29\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>3 (Aggregazioni aziendali). -  Il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>immateriali, <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>dell\u2019avv<span class=\"_ _0\"></span>iamento, <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>vita <span class=\"_ _2b\"></span>utile <span class=\"_ _2b\"></span>definita <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>rappresenta <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore del costo al netto degli ammortamenti registrati.<span class=\"_ _0\"></span>  Vita utile Attivit\u00e0 immateriali a vita util<span class=\"_ _29\"></span>e definita da 3 <span class=\"ls21\">a </span>10 anni Al <span class=\"_ _22\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>2022<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _23\"></span>iscritte <span class=\"_ _22\"></span>riduzioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>voce<span class=\"_ _0\"></span>; <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>avviamenti <span class=\"_ _23\"></span>iscritti <span class=\"_ _22\"></span>in bilancio sono stati sottoposti ad <span class=\"_ _0\"></span><span class=\"ff5a\">impairment test</span>. Di seguito la ripartizione per area geografica:<span class=\"_ _0\"></span> Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Attivit\u00e0 immateriali (escl. Avvi<span class=\"_ _29\"></span>amento) 42.086  10.985  677  53.748  Le \u201cvaria<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>PPA\u201d <span class=\"_ _0\"></span>inclusono <span class=\"_ _0\"></span>l\u2019effetto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>processo <span class=\"_ _22\"></span>di allocazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>quale <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>emersi plusvalori <span class=\"_ _29\"></span>relativi <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>marchi <span class=\"_ _2b\"></span>facenti capo <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>gruppo CU<span class=\"_ _29\"></span>LTI <span class=\"_ _2b\"></span>(Euro 9.031 <span class=\"_ _2b\"></span>migliaia) <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>alle <span class=\"_ _29\"></span>liste <span class=\"_ _2b\"></span>clienti <span class=\"_ _29\"></span>facenti <span class=\"_ _2b\"></span>capo<span class=\"_ _0\"></span> ad <span class=\"_ _28\"></span>alcune <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>gruppo <span class=\"_ _2c\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _2c\"></span>(Euro <span class=\"_ _2c\"></span>29.530 <span class=\"_ _2c\"></span>migliaia). <span class=\"_ _2c\"></span>Il <span class=\"_ _28\"></span>decrement<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Euro <span class=\"_ _2c\"></span>109.450 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>\u00e8 relativo <span class=\"_ _2f\"> </span>all<span class=\"ff5d\">\u2019allo<span class=\"_ _0\"></span>cazione <span class=\"_ _2f\"> </span>dell\u2019avviamento <span class=\"_ _41\"> </span>alle <span class=\"_ _2f\"> </span>diverse <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _2f\"> </span>e <span class=\"_ _41\"> </span>passi</span>vit\u00e0 <span class=\"_ _41\"> </span>di <span class=\"_ _2f\"> </span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>tenendo <span class=\"_ _41\"> </span>altres\u00ec <span class=\"_ _2f\"> </span>in considerazione <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>effetti <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>PPA <span class=\"_ _28\"></span>effettu<span class=\"_ _0\"></span>ata <span class=\"_ _28\"></span>dal <span class=\"_ _28\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>capo <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipata <span class=\"_ _2c\"></span>Magnet <span class=\"_ _28\"></span>(Euro 11.174 <span class=\"_ _22\"></span>migliaia); <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>ulteriori <span class=\"_ _22\"></span>dettagli <span class=\"_ _22\"></span>sui <span class=\"_ _22\"></span>valo<span class=\"_ _0\"></span>ri <span class=\"_ _22\"></span>identicati <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>sede <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>PPA <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>rimanda <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quanto <span class=\"_ _22\"></span>rappresentato nell<span class=\"ff5d\">\u2019informativa di seguito riportata.<span class=\"_ _0\"></span></span> Avviamento (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Cash Generating Unit Rame               342.540                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>342.540  Cash Generating Unit Profumi e Cosme<span class=\"_ _29\"></span>si                  27.776                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>27.776  Avviamento               370.316                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>         370.316    La <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>ecedente <span class=\"_ _0\"></span>tabella <span class=\"_ _22\"></span>evide<span class=\"ff5d\">nzia <span class=\"_ _22\"></span>l\u2019allocazione <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>avviamenti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span><span class=\"ff5a\">Cash <span class=\"_ _22\"></span>Generating <span class=\"_ _22\"></span>Unit</span></span>, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>coerenza con il settore di operativit\u00e0 del Gruppo<span class=\"_ _0\"></span>; la vita utile dell'avviamento \u00e8 indefinita.<span class=\"_ _0\"></span> L<span class=\"ff5d\">\u2019avviamento <span class=\"_ _2d\"> </span>iscritto <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span>31</span> <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2c\"></span>da <span class=\"_ _2d\"> </span>aggregazioni <span class=\"_ _2d\"> </span>aziendali <span class=\"_ _2c\"></span>e, <span class=\"_ _2d\"> </span>nello <span class=\"_ _2c\"> </span>specifico, <span class=\"_ _2d\"> </span>dal consolidamento <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>gruppo <span class=\"_ _22\"></span>KME, <span class=\"_ _22\"></span>attivo <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>settore <span class=\"_ _22\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _22\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>CULTI <span class=\"_ _0\"></span>Milano, <span class=\"_ _23\"></span>attivo <span class=\"_ _0\"></span>nel <span class=\"_ _22\"></span>settor<span class=\"_ _0\"></span>e dei profumi e della cosmesi. <span class=\"_ _0\"></span> Aggregazioni aziendali Contabil<span class=\"ff5d\">mente <span class=\"_ _0\"></span>(par. <span class=\"_ _0\"></span>B100 <span class=\"_ _0\"></span>dell\u2019IFRS <span class=\"_ _0\"></span>10)<span class=\"_ _0\"></span></span>, <span class=\"_ _0\"></span>infatti, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span><span class=\"ff5d\">\u201c</span>cambi<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>stato<span class=\"ff5d\">\u201d <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>e</span>ntit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>i<span class=\"ls1\">nv</span>estimento \u00e8 <span class=\"_ _0\"></span><span class=\"ls0\">stata <span class=\"_ _0\"></span>considerata <span class=\"_ _0\"></span>com<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione <span class=\"_ _22\"></span>presunta. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span></span>delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione </span>presunta <span class=\"_ _22\"></span>ha <span class=\"_ _0\"></span>rappresenta<span class=\"ls9\">to</span> <span class=\"_ _22\"></span><span class=\"ff5d\">il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _22\"></span>presunto <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>determinazione <span class=\"_ _22\"></span>dell\u2019avviamento. <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>cambio <span class=\"_ _22\"></span>di </span>stato <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>considerato <span class=\"_ _0\"></span><span class=\"ff5d\">infatti <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span>\u2019acquisizione, <span class=\"_ _0\"></span>cio<span class=\"_ _0\"></span>\u00e8</span> <span class=\"_ _0\"></span><span class=\"ff5d\">un<span class=\"_ _0\"></span>\u2019operazione <span class=\"_ _0\"></span>con <span class=\"_ _22\"></span>cui <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>attua <span class=\"_ _22\"></span>lo <span class=\"_ _0\"></span>scambio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni </span>aziendali <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>quello <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>consolidata) <span class=\"_ _23\"></span>contro <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>(<span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>della partecipazione); <span class=\"_ _23\"></span>ne <span class=\"_ _28\"></span>deriva <span class=\"_ _23\"></span>quin<span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>l\u2019applicazione <span class=\"_ _28\"></span>del<span class=\"ff56\"> <span class=\"_ _28\"></span></span>principio <span class=\"_ _23\"></span>contabile <span class=\"_ _28\"></span>IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _28\"></span>\u201cAggregazioni <span class=\"_ _23\"></span>aziendali\u201d <span class=\"_ _28\"></span>e l\u2019effettuazione del processo di \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Purchase Price Allocation<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d </span>(\u201cPPA\u201d) <span class=\"ff56\">come illustrato nel prosieguo.<span class=\"_ _0\"></span> </span>Nello <span class=\"_ _22\"></span>specifico, <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>quella <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>acquisizione <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esunta <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>30 <span class=\"_ _22\"></span>aprile <span class=\"_ _23\"></span>2022 come data di riferimento contabile pi\u00f9 prossima alla data d<span class=\"_ _0\"></span>i cambio di stato (22 aprile 2022)<span class=\"_ _0\"></span>. L'avviamento <span class=\"_ _28\"></span>iscritto, <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>producendo <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>modo <span class=\"_ _28\"></span>autonomo, <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>allocato <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>due <span class=\"_ _28\"></span>unit\u00e0 <span class=\"_ _28\"></span>di business generatrici di flussi finanziari (<span class=\"ff5a\">Cash Generating Unit<span class=\"ff5d\">, anche \u201c</span></span><span class=\"ls18\">CGU</span><span class=\"ff5d\">\u201d</span>) in cui viene suddivisa <span class=\"ff5d\">l\u2019attivit\u00e0 </span>dell\u2019aggregazione <span class=\"_ _0\"></span>aziendale: <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>profumi <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>della cosmesi.<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>L\u2019identificazione <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>CGU \u00e8 <span class=\"_ _28\"></span>stata <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>coerentemente <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>informazioni <span class=\"_ _2c\"></span>relative <span class=\"_ _28\"></span>ai<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>settori <span class=\"_ _2c\"></span>operativi <span class=\"_ _2c\"></span>della <span class=\"_ _28\"></span>Socie<span class=\"_ _22\"></span>t\u00e0, <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>sensi <span class=\"_ _28\"></span>de<span class=\"_ _0\"></span>l principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>internazionale <span class=\"_ _0\"></span>IFRS <span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>nonch\u00e9 <span class=\"_ _22\"></span>tenendo <span class=\"_ _0\"></span>conto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>liv<span class=\"_ _0\"></span>ello <span class=\"_ _0\"></span>inferiore <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>Societ\u00e0, <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>fini gestionali, monitora l\u2019andamento delle partecipate. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Pi\u00f9 <span class=\"_ _3b\"> </span>in <span class=\"_ _3b\"> </span>dettaglio, <span class=\"_ _3b\"> </span>l\u2019avviamento <span class=\"_ _3b\"> </span><span class=\"ff56\">in<span class=\"_ _0\"></span>izialmente <span class=\"_ _3b\"> </span>iscritto <span class=\"_ _3b\"> </span></span>nell\u2019<span class=\"_ _0\"></span>esercizio <span class=\"_ _3b\"> </span><span class=\"ff56\">accog<span class=\"ls9\">lie<span class=\"ls1\">va</span></span> <span class=\"_ _3b\"> </span><span class=\"ls9\">il <span class=\"_ _3b\"> </span></span>disavanz<span class=\"ls1\">o <span class=\"_ _3b\"> </span></span>da </span>consolidamento, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>365.260 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>tra <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _0\"></span>teorico <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>primo <span class=\"_ _22\"></span>consolidamento delle <span class=\"_ _0\"></span>partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>relativi <span class=\"_ _22\"></span>valori <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>patrimonio <span class=\"_ _0\"></span>netto <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>suddetta <span class=\"_ _0\"></span>data, tenuto conto delle interessenze di pertinenza della<span class=\"_ _0\"></span> Capogruppo.  Variazione area di consolida<span class=\"_ _29\"></span>mento (in migliaia di Euro) Aggregazione IFRS 3 Originario provvisoria Cash Generating Unit<span class=\"ff56\"> Rame  </span>             99.684   <span class=\"fc5 sc0\"> </span>             336.696  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Cash Generating Unit<span class=\"ff56\"> Profumi e Cosmesi <span class=\"_ _29\"></span> </span>                  3.398   <span class=\"fc5 sc0\"> </span>               28.564  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Avviamento ante PPA 103.082 365.260 Coerentemente <span class=\"_ _22\"></span>ai <span class=\"_ _23\"></span>requisiti <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>rmativi <span class=\"_ _23\"></span><span class=\"ff5d\">del <span class=\"_ _22\"></span>paragrafo <span class=\"_ _23\"></span>45 <span class=\"_ _22\"></span>dell\u2019IFRS <span class=\"_ _23\"></span>3, <span class=\"_ _23\"></span></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>procedu<span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>una <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tazione delle <span class=\"_ _2b\"></span>attivit\u00e0 nette <span class=\"_ _2b\"></span>acquisite <span class=\"_ _2b\"></span>e quindi <span class=\"_ _2b\"></span>alla <span class=\"_ _29\"></span><span class=\"ff5d\">contabilizzazione <span class=\"_ _29\"></span>iniziale <span class=\"_ _2b\"></span>entro il<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>\u201cperiodo di <span class=\"_ _2b\"></span>valutazione\u201d <span class=\"_ _2b\"></span>di ma<span class=\"_ _29\"></span>ssimi </span>12 mesi dalla data di acquisizione.<span class=\"_ _0\"></span> Tale di<span class=\"_ _0\"></span>savanzo <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>consolidamento, <span class=\"_ _0\"></span>alloc<span class=\"_ _0\"></span>ato <span class=\"_ _0\"></span>inizialmente <span class=\"_ _0\"></span><span class=\"ff5d\">interamente <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce \u201cAttivit\u00e0 <span class=\"_ _0\"></span>im<span class=\"_ _0\"></span>materiali\u201d</span> (Euro 365.260 migliaia), a fronte <span class=\"_ _29\"></span>di quanto emerso in sede <span class=\"_ _29\"></span>di PPA \u00e8 <span class=\"_ _29\"></span>stato parzialmente ri-allocato alle singole attivit\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span><span class=\"ff5d\">pass<span class=\"_ _0\"></span>ivit\u00e0 <span class=\"_ _29\"></span>iscritte <span class=\"_ _2b\"></span>in bilancio; <span class=\"_ _2b\"></span>l\u2019avviamento residuo <span class=\"_ _2b\"></span>dall\u2019aggregazione \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>ad <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>266.9<span class=\"_ _0\"></span><span class=\"ff56\">84 migliaia. </span></span>Come <span class=\"_ _29\"></span>indicato dai <span class=\"_ _2b\"></span>principi contabili, <span class=\"_ _29\"></span>infatti, <span class=\"_ _2b\"></span>l<span class=\"_ _0\"></span><span class=\"ff5d\">\u2019allocazione del <span class=\"_ _2b\"></span>valore <span class=\"ff56\">\u00e8 <span class=\"_ _2b\"></span>q<span class=\"_ _0\"></span>uindi variata <span class=\"_ _2b\"></span>in funzione <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair </span></span></span>value<span class=\"ff56\"> delle attivit\u00e0 e <span class=\"_ _0\"></span>passivit\u00e0 sui cui <span class=\"_ _0\"></span>\u00e8 stato allocato <span class=\"ff5d\">il <span class=\"_ _0\"></span>\u201cprezzo\u201d dell\u2019acquisizione nell\u2019ambito d<span class=\"_ _0\"></span>el processo di </span></span>Purchase Price Allocation<span class=\"ff56\"> da effettuare <span class=\"_ _0\"></span>ai sensi dell<span class=\"ff5d\">\u2019IFRS 3.<span class=\"_ _0\"></span></span> </span>L\u2019importo <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>tali <span class=\"_ _2e\"> </span>avviamenti, <span class=\"_ _2f\"> </span>inclusi <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>ell<span class=\"ff56\">i <span class=\"_ _2f\"> </span>originari <span class=\"_ _2e\"> </span>derivanti <span class=\"_ _2f\"> </span>dalle <span class=\"_ _2e\"> </span>due <span class=\"_ _2f\"> </span>CGU <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>incrementi<span class=\"_ _0\"></span> </span>dell\u2019esercizio ammontano ad Euro 370.316 migliaia.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Variazione area di Fondo Totale Incrementi consolidamento IFRS 10 Svalutazione 31/12/22 (in migliaia di Euro) Aggregazione  Originario IFRS 3 definitiva Cash Generating Unit Rame       99.684   <span class=\"fc5 sc0\"> </span>         242.856   <span class=\"fc5 sc0\"> </span>               -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>342.540    Cash Generating Unit Profumi e Cosmesi <span class=\"_ _29\"></span>         3.398   <span class=\"fc5 sc0\"> </span>          24.128               250   <span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>  <span class=\"ls0\">27.776    </span>Avviamento post PPA     <span class=\"ls0\">103.082   <span class=\"fc5 sc0\"> </span></span>        266.984               250   <span class=\"fc5 sc0\"> </span>                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>370.316    Purchase Price Allocation (PPA) Di seguito si rappresentano i plu<span class=\"_ _0\"></span>svalori/minusvalori identificati in<span class=\"_ _0\"></span> sede di PPA. CGU CGU Rame Profumi e Totale Cosmesi Originario 99.684 3.398 103.082 Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 provvis<span class=\"_ _29\"></span>oria (A) 336.696 28.564 365.260 Goodwill da analizzare in se<span class=\"_ _29\"></span>de PPA 436.380 31.962 468.342 Effetti PPA sulle voci di bil<span class=\"_ _29\"></span>ancio 29.530  9.031  38.561  Attivit\u00e0 immateriali 116.923   -<span class=\"lsd\">  </span> 116.923  Immobili, impianti e macchinari<span class=\"_ _0\"></span> (1.811)  -<span class=\"lsd\">  </span> (1.811) Investimenti immobiliari (11.184)  -<span class=\"lsd\">  </span> (11.184) Partecipazioni (4.627) (2.075) (6.702) Patrimonio netto di Terzi (42.427) (2.520) (44.947) Passivit\u00e0 per imposte differite 7.436   -<span class=\"lsd\">  </span> 7.436  Attivit\u00e0 non correnti detenute per la vendita<span class=\"_ _0\"></span> Valori allocati PPA (B)            93.840              4.436      <span class=\"ls0\">98.276   <span class=\"fc5 sc0\"> </span></span>Originario        <span class=\"lsb\">   </span>99.684           <span class=\"lsb\">   </span>3.398    10<span class=\"ls0\">3.082   <span class=\"fc5 sc0\"> </span></span>Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 definiti<span class=\"_ _29\"></span>va (A - <span class=\"ls63\">B)</span>          242.856            24.128    266.984   <span class=\"fc5 sc0\"> </span>Goodwill residuo post PP<span class=\"_ _29\"></span>A           342.540            27.526    370.066   <span class=\"fc5 sc0\"> </span>Impairment test del valore degli avviamenti <span class=\"_ _0\"></span>iscritti in bilancio al <span class=\"_ _0\"></span>31 dicembre <span class=\"ls1\">2022</span> L\u2019avviamento <span class=\"_ _2e\"> </span>acquisito <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>un\u2019agg<span class=\"_ _0\"></span>regazione <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _8b\"> </span>alloca<span class=\"_ _0\"></span>to <span class=\"_ _8b\"> </span>alle <span class=\"_ _2e\"> </span>unit\u00e0 <span class=\"_ _2e\"> </span>generatrici <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>flussi finanziari. <span class=\"_ _2b\"></span>L\u2019avviamento, iscritto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quanto <span class=\"_ _29\"></span>rappresentativo <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>capacit\u00e0 <span class=\"_ _2b\"></span>reddituali <span class=\"_ _2b\"></span>fu<span class=\"_ _0\"></span>ture <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>CGU, <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>indi delle <span class=\"_ _2a\"> </span>partecipate, <span class=\"_ _2a\"> </span>periodicamente <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>sotto<span class=\"_ _0\"></span>posto <span class=\"_\"> </span>test <span class=\"_ _2d\"> </span>di <span class=\"_\"> </span>verifica <span class=\"_ _2d\"> </span>del <span class=\"_\"> </span>valore, <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>livello <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>sing<span class=\"_ _0\"></span>ola <span class=\"_ _2a\"> </span>CGU, <span class=\"_ _2a\"> </span>per identificare <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>riduzioni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>identificarsi <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _0\"></span>della <span class=\"_ _23\"></span>differenza <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>iscrizione dell\u2019avviamento <span class=\"_ _2d\"> </span>ed <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>realizzo, <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"> </span>maggiore <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span><span class=\"ls1\">de</span></span></span>ll\u2019unit\u00e0 <span class=\"_ _2d\"> </span>generatrice <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>flussi finanziari, al netto degli eventuali costi di v<span class=\"_ _0\"></span>endita, e l\u2019eventuale relativo valore d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Vi <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>una <span class=\"_ _0\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>ogniqualvolta <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">carrying <span class=\"_ _22\"></span>amount</span>\u201d) <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un\u2019attivit\u00e0 <span class=\"_ _22\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _0\"></span>intesa </span>individualmente <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>CGU, <span class=\"_ _23\"></span>ovvero <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>\u201ccentro <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>ricavo\u201d <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>minori <span class=\"_ _22\"></span>dimensioni <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>possibile <span class=\"_ _23\"></span>imputare specifici flussi di cassa <span class=\"ff5d\">\u2013</span> <span class=\"ff5d\">\u00e8 maggio<span class=\"_ _0\"></span>re del \u201cvalore recuperabile\u201d della stessa (\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span>\u201d).</span> A tal fine, l\u2019avviamento deve essere allocato a s<span class=\"ff56\">ingole o a gruppi di unit\u00e0 generatrici di flussi fin<span class=\"_ _0\"></span>anziari </span>dell\u2019acquirente in <span class=\"_ _2b\"></span>modo che <span class=\"_ _2b\"></span>tali unit\u00e0 <span class=\"_ _29\"></span>beneficino <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>sinergie <span class=\"_ _29\"></span>dell\u2019aggregazione, indipendentemente <span class=\"_ _2b\"></span>dal fatto che altre attivit\u00e0 o passivit\u00e0 dell\u2019acquisito<span class=\"_ _0\"></span> siano assegnate a tali unit\u00e0 o gruppi <span class=\"_ _0\"></span><span class=\"ff56\">di unit\u00e0. </span>I <span class=\"_ _28\"></span>test <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _28\"></span>erano <span class=\"_ _28\"></span>stati <span class=\"_ _28\"></span>gi\u00e0 <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>30 <span class=\"_ _28\"></span>giugno <span class=\"_ _28\"></span>2022 <span class=\"_ _28\"></span>senza <span class=\"_ _28\"></span>dare <span class=\"_ _28\"></span>evidenza <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>problemi <span class=\"_ _28\"></span>di recuperabilit\u00e0. <span class=\"_ _2d\"> </span>Nonostante <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>siano <span class=\"_ _2c\"> </span>emersi <span class=\"_ _2d\"> </span>indicatori <span class=\"_ _2c\"></span>specifici <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span><span class=\"ff5a\">impairment</span> <span class=\"_ _2d\"> </span>sulle singole <span class=\"_ _28\"></span>CGU, <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>natura <span class=\"_ _28\"></span>interna <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _28\"></span>esterna, <span class=\"_ _28\"></span>tenendo <span class=\"_ _28\"></span>altres\u00ec <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>considerazione <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>prezzi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>borsa <span class=\"_ _28\"></span>della Capogruppo risultano <span class=\"_ _0\"></span>inferiori al <span class=\"_ _0\"></span>valore di <span class=\"_ _0\"></span>patrimonio netto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>azione, per ciascuna <span class=\"_ _0\"></span>CGU sono <span class=\"_ _0\"></span>stati <span class=\"_ _0\"></span>condotti sul <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019avviamento <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>31</span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _0\"></span>specifici <span class=\"_ _22\"></span><span class=\"ff5a\">test</span> <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a ls9\">im<span class=\"ls0\">pairment</span></span> <span class=\"_ _22\"></span><span class=\"ff5d\">anche <span class=\"_ _22\"></span>con <span class=\"_ _0\"></span>l\u2019ausilio <span class=\"_ _22\"></span>di </span>un consulente esterno. Le metodologie utilizzate per i <span class=\"_ _29\"></span>test di <span class=\"ff5a\">impairment</span> sono similari a quelle utilizzate dalla Capogruppo, <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>fini <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>relazione <span class=\"_ _2b\"></span>finanziaria annuale <span class=\"_ _2b\"></span>2021, <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>degli <span class=\"_ _29\"></span>investimenti <span class=\"_ _2b\"></span>partecipat<span class=\"_ _0\"></span>ivi valutati al <span class=\"ff5a\">fair value</span>, nonch\u00e9 delle valutazion<span class=\"_ _0\"></span>i effettuate in sede semestrale 2022.<span class=\"_ _0\"></span> I <span class=\"_ _23\"></span>suddetti <span class=\"_ _22\"></span>test <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stati <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>tenendo <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>evisioni <span class=\"_ _23\"></span>dello <span class=\"_ _23\"></span>IAS <span class=\"_ _22\"></span>36 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle raccomandazioni ESMA <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>Consob e <span class=\"_ _2b\"></span>quindi tenendo i<span class=\"_ _29\"></span>n considerazione tutti <span class=\"_ _2b\"></span>i potenziali effetti <span class=\"_ _2b\"></span>di natura esterna derivanti dagli effetti della pandemia e dal con<span class=\"_ _0\"></span>flitto Russia-<span class=\"ff5d\">Ucraina sull\u2019attivit\u00e0 del Grup<span class=\"_ _0\"></span>po.</span> Le <span class=\"_ _22\"></span>analisi <span class=\"_ _22\"></span>condotte <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>confermato <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>esposto <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circostanze <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>richiedano <span class=\"_ _22\"></span>la ripetizione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>test <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> sede<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>redazione <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Relazione <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>annuale. <span class=\"_ _0\"></span>Tu<span class=\"_ _0\"></span>ttavia, alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>della <span class=\"_ _28\"></span>continua <span class=\"_ _23\"></span>incertezza <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>contraddistingue <span class=\"_ _23\"></span>lo <span class=\"_ _28\"></span>scenario <span class=\"_ _23\"></span>macroeconomico <span class=\"_ _28\"></span>internazionale <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle forti tensioni sui <span class=\"_ _0\"></span>mercati fi<span class=\"_ _0\"></span>nanziari che <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span><span class=\"ff5d\">determinato <span class=\"_ _0\"></span>un\u2019oscillazione neg<span class=\"_ _0\"></span>ativa anche <span class=\"_ _0\"></span>della quotazion<span class=\"_ _0\"></span>e di </span>Borsa <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>Societ\u00e0 <span class=\"_ _29\"></span>(che <span class=\"_ _2b\"></span>evid<span class=\"_ _0\"></span>enziava <span class=\"_ _29\"></span>a <span class=\"_ _29\"></span>fine <span class=\"_ _29\"></span>giugno <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>permanere <span class=\"_ _2b\"></span>di una <span class=\"_ _2b\"></span>capitalizzazio<span class=\"_ _0\"></span>ne inferiore<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>patrimonio netto <span class=\"_ _2d\"> </span>contabile) <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>Gruppo, <span class=\"_ _2d\"> </span>accogliendo <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>indicazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>prudenza <span class=\"_ _2d\"> </span>evid<span class=\"_ _0\"></span>enziate <span class=\"_ _2d\"> </span>da<span class=\"_ _22\"></span>i <span class=\"_ _2d\"> </span>sopracitati <span class=\"_ _2a\"> </span>Organismi Regolamentari, <span class=\"_\"> </span>ha <span class=\"_\"> </span>comunque <span class=\"_\"> </span>effettuato <span class=\"_\"> </span>l\u2019<span class=\"ff5a\">impairment<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_\"> </span>test <span class=\"_\"> </span>delle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_\"> </span>immateriali <span class=\"_\"> </span>iscritte <span class=\"_\"> </span>nel <span class=\"_\"> </span>Bilancio </span></span>Consolidato e riferite alle due <span class=\"ff5a\">Cash Generat<span class=\"_ _0\"></span>ing Unit</span> identificate. In ossequio al principio contabile internazionale IAS 36, le proiezioni dei flussi finanziari utilizzate per la <span class=\"_ _2c\"></span>determinazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>valore <span class=\"_ _2d\"> </span>recuperabile <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>immaterial<span class=\"_ _0\"></span>i <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"> </span>vi<span class=\"_ _0\"></span>ta <span class=\"_ _2c\"></span>utile <span class=\"_ _2c\"></span>indefinita, <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2d\"> </span>particolare dell\u2019avviamento, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>state <span class=\"_ _22\"></span>riviste <span class=\"_ _22\"></span>basandosi <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>ultime <span class=\"_ _0\"></span>sti<span class=\"_ _0\"></span>me <span class=\"_ _22\"></span>disponibili <span class=\"_ _22\"></span>(indicate <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>Piani<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>Industriali <span class=\"_ _22\"></span>e/o </span>budget), op<span class=\"_ _0\"></span>portunamente riesamin<span class=\"_ _0\"></span>ate sulla <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>presupposti <span class=\"_ _0\"></span>ragionevoli <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>dimostrabili al <span class=\"_ _0\"></span>fine <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>riflettere i<span class=\"_ _0\"></span> risultati <span class=\"_ _2c\"></span>nel <span class=\"_ _2c\"></span>frattempo <span class=\"_ _2c\"></span>consuntivati <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>grado <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>rappresentare <span class=\"_ _2c\"></span>ad <span class=\"_ _2d\"> </span>oggi <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>migliore <span class=\"_ _2c\"> </span>stima <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>condizioni economiche future <span class=\"ff5d\">attese e svolgendo analisi <span class=\"_ _29\"></span>di sensitivit\u00e0 in <span class=\"_ _29\"></span>merito ai potenziali impatti derivanti dall\u2019attuale </span>contesto geopolitico e sanitario sulle assunzio<span class=\"_ _0\"></span>ni sottostanti le stime effettuate.<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">CGU Rame </span></span>Il test <span class=\"_ _29\"></span>di <span class=\"ff5a\">impairment</span> <span class=\"_ _2b\"></span>sulla CGU rame <span class=\"_ _29\"></span>(al 31 <span class=\"_ _29\"></span>dicembre 2022 <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re avviamento <span class=\"_ _29\"></span>pari <span class=\"_ _29\"></span>ad Euro <span class=\"_ _29\"></span>342,5 milioni) \u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>metodologia <span class=\"_ _23\"></span>dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _23\"></span>discounted <span class=\"_ _23\"></span>cash <span class=\"_ _22\"></span>flow<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>(UDCF) <span class=\"_ _22\"></span>attualizzando <span class=\"_ _23\"></span>i </span></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019effetto fiscale).<span class=\"_ _0\"></span></span> Il <span class=\"_ _2c\"></span>metodo <span class=\"_ _2c\"></span>UDCF <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _28\"></span>svilup<span class=\"_ _0\"></span>pato <span class=\"_ _2c\"></span>utilizzando <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>base <span class=\"_ _2c\"> </span>info<span class=\"_ _0\"></span>rmativa <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>proiezioni <span class=\"_ _2d\"> </span>economiche <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>le<span class=\"_ _0\"></span> variazioni <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>alcune <span class=\"_ _23\"></span>poste <span class=\"_ _23\"></span>patrimoniali <span class=\"_ _23\"></span>contenute <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Piano <span class=\"_ _22\"></span>Industriale <span class=\"_ _23\"></span>2023 <span class=\"_ _23\"></span>- <span class=\"_ _23\"></span><span class=\"ls1\">2027</span> <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>\u201cPiano\u201d </span>elaborato ed <span class=\"_ _2b\"></span>a<span class=\"_ _0\"></span>pprovato dagli <span class=\"_ _29\"></span>organi amministrativi <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>KME SE <span class=\"_ _2b\"></span>il 24 marzo <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>23) a <span class=\"_ _29\"></span>partire <span class=\"_ _29\"></span>dai flussi <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>primo semestre 2023 e tenendo conto<span class=\"_ _0\"></span> dei dati consuntivi al 31 dicembre 20<span class=\"_ _0\"></span>22. <span class=\"ls7\">Il </span>Piano approvato riflette la migliore stima <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali <span class=\"_ _23\"></span>sviluppi <span class=\"_ _28\"></span>macroeconomici <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>potrebbero <span class=\"_ _28\"></span>influenzare <span class=\"_ _23\"></span>l'attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>gruppo KME SE. Il <span class=\"ff5a ls0\">terminal <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">\u00e8 <span class=\"_ _29\"></span>stato calcolato <span class=\"_ _29\"></span>assumendo l\u2019EBITDA <span class=\"_ _29\"></span>di lungo <span class=\"_ _29\"></span>periodo pari <span class=\"_ _29\"></span>alla <span class=\"_ _29\"></span>media dell\u2019EBITDA <span class=\"_ _29\"></span>di </span></span></span>Piano <span class=\"_ _29\"></span>(periodo <span class=\"_ _29\"></span>esplicito, <span class=\"_ _29\"></span>1 <span class=\"_ _2b\"></span>gennaio 2023 <span class=\"_ _2b\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _29\"></span>2027), con <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>livello <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammortamento <span class=\"_ _2b\"></span>c<span class=\"_ _0\"></span>orrispondente </span></span>agli <span class=\"_ _29\"></span>investimenti, <span class=\"_ _29\"></span><span class=\"ff5d\">utilizzando <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>tasso di <span class=\"_ _2b\"></span>crescita <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>lungo <span class=\"_ _2b\"></span>periodo<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>\u201cg\u201d <span class=\"_ _2b\"></span>pari a <span class=\"_ _2b\"></span>zero <span class=\"_ _29\"></span>giungendo <span class=\"_ _29\"></span>ad <span class=\"_ _2b\"></span>un WACC <span class=\"_ _2b\"></span>pari </span>a <span class=\"_ _22\"></span>9,67% <span class=\"_ _23\"></span>(tasso <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>9,35% <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>valutazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span></span>effettuate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021)<span class=\"_ _0\"></span><span class=\"fs1\"> <span class=\"_ _23\"></span></span>tenendo <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei dati storici registrati. Conformemente <span class=\"_ _0\"></span>alle <span class=\"_ _22\"></span>indicazioni <span class=\"_ _0\"></span>metodologiche <span class=\"_ _22\"></span>fornite <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>IAS <span class=\"_ _0\"></span>36 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>altres\u00ec <span class=\"_ _0\"></span>effettuat<span class=\"_ _0\"></span>a un\u2019<span class=\"ff56 ls0\">analisi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>sensitivit\u00e0 <span class=\"_ _2b\"></span>al fine <span class=\"_ _2b\"></span>di comprendere <span class=\"_ _2b\"></span>come il <span class=\"_ _2b\"></span>valore recuperabile <span class=\"_ _2b\"></span>possa variare <span class=\"_ _2b\"></span>a seguito <span class=\"_ _2b\"></span>di variazioni </span>del <span class=\"_ _2d\"> </span>valore <span class=\"_ _2d\"> </span>dell\u2019EBITDA <span class=\"_ _2d\"> </span>(decremento<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>5% <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>10%) <span class=\"_ _2d\"> </span>sul <span class=\"_ _2d\"> </span><span class=\"ff5a\">te<span class=\"_ _0\"></span>rminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Peraltro, <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>fine <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>meglio </span>apprezzare la sensibilit\u00e0 <span class=\"_ _0\"></span>dei risultati dell\u2019<span class=\"_ _0\"></span><span class=\"ff5a\">impairment t<span class=\"_ _0\"></span><span class=\"ff56\">est rispetto alle <span class=\"_ _0\"></span>variazioni degli <span class=\"_ _0\"></span>assunti di base, <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>parit\u00e0 </span></span>di <span class=\"_ _2b\"></span>tasso <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>(<span class=\"_ _0\"></span>pari <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>zero), <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _2b\"></span>svolta, <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>fini <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span><span class=\"ff5d\">del valore <span class=\"_ _2b\"></span>d\u2019uso, <span class=\"_ _2b\"></span><span class=\"ff56\">anche <span class=\"_ _29\"></span><span class=\"ff5d\">un\u2019analisi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">sensitivit\u00e0<span class=\"ff5a\"> </span></span></span></span></span>rispetto <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>attualizzazione <span class=\"_ _2c\"></span>complessivo <span class=\"_ _2c\"></span>WACC <span class=\"_ _28\"></span>(<span class=\"ls9\">in<span class=\"_ _0\"></span></span>cremento <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>0,5% <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>1,0%) <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _2c\"></span>del calcolo <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">terminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Sia <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>peggio<span class=\"_ _0\"></span>ramento <span class=\"_ _2d\"> </span>congiunto <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>parametri <span class=\"_ _2d\"> </span>di EBITDA <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>WACC<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span><span class=\"ff5d ls9\">l\u2019</span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test</span> <span class=\"_ _22\"></span>effettuato <span class=\"_ _22\"></span><span class=\"ls1\">ha</span> <span class=\"_ _0\"></span>accertato <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sussistono <span class=\"_ _22\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span><span class=\"ls64\">CGU </span>Rame<span class=\"fs1\">.</span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a ls18\">CGU <span class=\"ls0\">Profumi e Cosmesi </span></span></span>Il test di <span class=\"ff5a\">impairment</span> sulla CGU Profumi e Co<span class=\"_ _0\"></span>smesi (al 31 dicembre 20<span class=\"_ _0\"></span>22 valore avviamento pari ad Euro 27,8 <span class=\"_ _0\"></span>milioni), <span class=\"_ _0\"></span>\u00e8 stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> sulla <span class=\"_ _0\"></span>base<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _0\"></span>discounted <span class=\"_ _0\"></span>cash <span class=\"_ _0\"></span>flow</span></span> <span class=\"_ _0\"></span>(UDCF) <span class=\"_ _0\"></span>attualizzando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019ef</span>fetto fiscale). <span class=\"_ _0\"></span> Il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>recuperabile <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>determinato <span class=\"_ _23\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5a\">Sum <span class=\"_ _22\"></span>of <span class=\"_ _22\"></span>Parts</span>, <span class=\"_ _22\"></span>considerando <span class=\"_ _23\"></span>i valori di CULTI Milano SpA e delle societ\u00e0 afferenti<span class=\"_ _0\"></span> al proprio<span class=\"_ _0\"></span> gruppo<span class=\"lsb\">. </span> Per <span class=\"_ _2d\"> </span>ogni <span class=\"_ _2d\"> </span>parte <span class=\"_ _2a\"> </span>(entit\u00e0), <span class=\"_ _2d\"> </span>i<span class=\"lsa\">l <span class=\"_ _2d\"> </span></span><span class=\"ff5a\">termina<span class=\"_ _0\"></span>l <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2d\"> </span>calcolato <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>relativo <span class=\"_ _2a\"> </span>EBITDA <span class=\"_ _2d\"> </span>storico <span class=\"_ _2d\"> </span>e considerando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>previsionali <span class=\"_ _0\"></span>(periodo <span class=\"_ _0\"></span>esplicito, <span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>gennaio <span class=\"_ _0\"></span>2023 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2025<span class=\"ls7\">),</span> <span class=\"_ _0\"></span>utilizzando <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>tasso<span class=\"_ _0\"></span> di <span class=\"_ _22\"></span>crescita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>lungo <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>\u201cg\u201d <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>zero<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>giungendo <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>WACC <span class=\"_ _23\"></span>specifico <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>ciascuna <span class=\"_ _23\"></span>parte <span class=\"_ _22\"></span>(entit\u00e0); </span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>contributo di <span class=\"_ _0\"></span>ciascun <span class=\"_ _0\"></span>Paese all\u2019EBITDA <span class=\"_ _0\"></span>Terminal <span class=\"_ _0\"></span>Value, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>tasso di <span class=\"_ _0\"></span>sconto medio <span class=\"_ _0\"></span>ponderato<span class=\"_ _0\"></span> applicato all\u2019impairment test della CGU <span class=\"_ _0\"></span><span class=\"ff56\">Profumi e Cosmesi si attesta attorno<span class=\"_ _0\"></span> al 10,89%. </span>Anche <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>CGU <span class=\"_ _0\"></span>Pro<span class=\"_ _0\"></span>fumi <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>Cosmesi, <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ciascuna <span class=\"_ _0\"></span>parte, <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _0\"></span>effettuata <span class=\"_ _0\"></span><span class=\"ff5d ls9\">l\u2019</span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>fine di <span class=\"_ _2e\"> </span>comprendere <span class=\"_ _2e\"> </span>la <span class=\"_ _2e\"> </span>variazione <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _2e\"> </span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span><span class=\"ff5d\">a <span class=\"_ _8b\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _8b\"> </span>dell\u2019EBITD<span class=\"_ _0\"></span>A </span>(decremento <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>5% <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>10%) <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">terminal <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>e<span class=\"lsb\">, <span class=\"_ _23\"></span></span>a <span class=\"_ _23\"></span>parit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>crescita <span class=\"_ _23\"></span>(pari <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>zero), <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di attualizzazione complessivo WACC<span class=\"_ _0\"></span> (<span class=\"ls9\">in</span>cremento di 0,5% e 1,0%).  Sia <span class=\"_\"> </span>nel <span class=\"_ _2e\"> </span>caso <span class=\"_ _8b\"> </span>base <span class=\"_ _8b\"> </span>che <span class=\"_ _2e\"> </span>nel <span class=\"_ _8b\"> </span>caso <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>peggioramento <span class=\"_ _8b\"> </span>congiunto<span class=\"_ _0\"></span> <span class=\"_\"> </span>dei <span class=\"_ _8b\"> </span>param<span class=\"_ _0\"></span>etri <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>EBITDA<span class=\"_ _0\"></span> <span class=\"_\"> </span>e <span class=\"_ _2e\"> </span>WACC, l\u2019<span class=\"ff5a ls0\">impairment test<span class=\"ff56\"> effettuato <span class=\"ls1\">ha</span> accertato che non<span class=\"_ _0\"></span> sussistono perd<span class=\"_ _0\"></span>ite di valo<span class=\"ls7\">re</span> sulla <span class=\"ls18\">CGU </span>Profumi e Cosmesi<span class=\"_ _0\"></span><span class=\"fs1\">.</span> </span></span>Inoltre, <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>arimenti <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>ai <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value</span> <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato redatto <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2021 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>semestrale <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span><span class=\"ff5a\">, <span class=\"_ _22\"></span>s</span>ono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>condotte analisi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>liq<span class=\"_ _0\"></span>uidit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span><span class=\"ff5a\">trend<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>borsa <span class=\"_ _22\"></span>(sui <span class=\"_ _22\"></span>volumi <span class=\"_ _22\"></span>scambiati, <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>termini <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>numero <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> controvalore <span class=\"_ _0\"></span>monetario <span class=\"_ _0\"></span>scambiato) <span class=\"_ _0\"></span>anche <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span><span class=\"ff5a\">comparables</span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>evidenziato <span class=\"_ _0\"></span>che nel <span class=\"_ _0\"></span>corso <span class=\"_ _22\"></span>dell\u2019ultimo <span class=\"_ _22\"></span>anno<span class=\"ff56\"> <span class=\"_ _0\"></span>(3 <span class=\"_ _22\"></span>gennaio <span class=\"_ _22\"></span>2022 <span class=\"_ _0\"></span></span>\u2013<span class=\"ff56\"> <span class=\"_ _22\"></span>31 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _0\"></span>2022<span class=\"_ _0\"></span>), <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>diversi <span class=\"_ _0\"></span>orizzonti <span class=\"_ _22\"></span>temporali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>1 <span class=\"_ _22\"></span>mese, <span class=\"_ _0\"></span>3 </span>mesi, <span class=\"_ _2c\"></span>6 <span class=\"_ _2c\"> </span>mesi <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>anno, <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>volumi <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>s<span class=\"_ _29\"></span>cambio <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"> </span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _2d\"> </span>CULTI <span class=\"_ _2c\"></span>Milano <span class=\"_ _2c\"> </span>sono <span class=\"_ _2c\"> </span>stati <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>linea <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"> </span>quelli <span class=\"_ _2d\"> </span>dei comparables<span class=\"ff56\"> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>ci\u00f2 <span class=\"_ _22\"></span>condurrebbe <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>ritenere <span class=\"_ _22\"></span>comun<span class=\"_ _0\"></span>que <span class=\"_ _22\"></span>significativo <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>quotazioni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa </span>al fine di determinare il valore corrente teorico <span class=\"_ _0\"></span>di CULTI Milano<span class=\"_ _0\"></span> utile ai fini del test di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span>. Anche <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>v<span class=\"_ _0\"></span>alorizzazione <span class=\"_ _22\"></span>risulterebbe <span class=\"_ _22\"></span>superiore <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>esame <span class=\"_ _22\"></span>(valore <span class=\"_ _22\"></span>unitario azione pari ad Euro 20,20). Risultanze del test sulle CGU identificate<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>esiti <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span><span class=\"ff5a\">impairment <span class=\"_ _0\"></span>test</span> <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>hanno <span class=\"_ _22\"></span>evidenziato <span class=\"_ _0\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>degli <span class=\"_ _0\"></span>avviamenti <span class=\"_ _22\"></span>iscritti, <span class=\"_ _0\"></span>sia <span class=\"_ _22\"></span>nello scenario di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>ipotizzati <span class=\"_ _0\"></span>dalle <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>effettua<span class=\"_ _0\"></span>te<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>(peggioramento <span class=\"_ _0\"></span>congiunto di EBITDA e WACC), con<span class=\"_ _0\"></span> un <span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span> delle CGU sempre superiore al v<span class=\"_ _0\"></span>alore di <span class=\"ff5a\">carrying amou<span class=\"_ _0\"></span>nt</span> evidenziato nel presente Bilancio Con<span class=\"_ _0\"></span>solidato.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__87": {
   "value": "4.3.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Attivit\u00e0 immateriali (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Software<span class=\"ff56\">, brevetti e licenze </span>23.515   -<span class=\"lsd\">  </span> 23.515  Acconti e costruzioni in corso 2.184   -<span class=\"lsd\">  </span> 2.184  Altre 28.049  12  28.037  Avviamento 370.316   -<span class=\"lsd\">  </span> 370.316  Attivit\u00e0 immateriali 424.064  12  424.052  Nel corso dell\u2019esercizio <span class=\"ff56\">le movimentazioni so<span class=\"_ _0\"></span>no cos\u00ec analizzabili: </span>Software, Imm. (in migliaia di Euro) brevetti e immateriali  Altre Avviamento Totale licenze in corso Valore lordo  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 30   -<span class=\"lsd\">  </span> 30  Ammortamenti accumulati  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 18   -<span class=\"lsd\">  </span> 18  Totale al 31 dicembre 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 12   -<span class=\"lsd\">  </span> 12<span class=\"ls0\">  </span>Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 30   -<span class=\"lsd\">  </span> 30  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 388  305  268  250  1.211  Riclassificazioni 146  839   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 985  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) IFRS 10 33.560  1.134  655  479.516  514.865  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) KME SE 688   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 688  Variazioni PPA 9.031   -<span class=\"lsd\">  </span> 29.530  (109.450) (70.889) Decrementi (costo) (222) (94)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (316) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 43.591  2.184  30.483  370.316  446.574  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021  -<span class=\"lsd\">  </span> 2.976  18  199.368  202.362  Variazione area di consolida<span class=\"_ _29\"></span>mento (fondo) IFRS 10 17.525   -<span class=\"lsd\">  </span> 320   -<span class=\"lsd\">  </span> 17.845  Variazione area di consolida<span class=\"_ _29\"></span>mento (fondo) KME SE  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Ammortamenti,<span class=\"ff5a\"> impairment</span> e <span class=\"_ _29\"></span>svalutazioni 1.652   -<span class=\"lsd\">  </span> 2.096   -<span class=\"lsd\">  </span> 3.748  Riclassificazioni 1.009   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.009  Decrementi (fondo amm<span class=\"_ _29\"></span>ortamento) (110)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (110) Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 20.076   -<span class=\"lsd\">  </span> 2.434   -<span class=\"lsd\">  </span> 22.510  Valore lordo 43.591  2.184  30.483  370.316  446.574  Ammortamenti accumulati 20.076   -<span class=\"lsd\">  </span> 2.434   -<span class=\"lsd\">  </span> 22.510  Totale al 31 dicembre 2022 23.515  2.184  28.049  370.316  424.064  La <span class=\"_ _2b\"></span>voce, <span class=\"_ _2b\"></span>rico<span class=\"_ _0\"></span>nducibile <span class=\"_ _2b\"></span>principalmente<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>a<span class=\"ff5d\">l <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>degli <span class=\"_ _2b\"></span>avviamenti, <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>incrementa <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"ff56\">in <span class=\"_ _2b\"></span>esame </span></span>a fronte del primo consolidamento delle controllate KME SE e <span class=\"_ _0\"></span>CULTI Milano, avvenuto al 30 aprile 2022, in applicazione <span class=\"_ _2b\"></span>delle previsioni <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>paragrafo <span class=\"_ _2b\"></span>B100 <span class=\"_ _29\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>10 e <span class=\"_ _2b\"></span>quindi <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>requisiti <span class=\"_ _29\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>3 (Aggregazioni aziendali). -  Il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>immateriali, <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>dell\u2019avv<span class=\"_ _0\"></span>iamento, <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>vita <span class=\"_ _2b\"></span>utile <span class=\"_ _2b\"></span>definita <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>rappresenta <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore del costo al netto degli ammortamenti registrati.<span class=\"_ _0\"></span>  Vita utile Attivit\u00e0 immateriali a vita util<span class=\"_ _29\"></span>e definita da 3 <span class=\"ls21\">a </span>10 anni Al <span class=\"_ _22\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>2022<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _23\"></span>iscritte <span class=\"_ _22\"></span>riduzioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>voce<span class=\"_ _0\"></span>; <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>avviamenti <span class=\"_ _23\"></span>iscritti <span class=\"_ _22\"></span>in bilancio sono stati sottoposti ad <span class=\"_ _0\"></span><span class=\"ff5a\">impairment test</span>. Di seguito la ripartizione per area geografica:<span class=\"_ _0\"></span> Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Attivit\u00e0 immateriali (escl. Avvi<span class=\"_ _29\"></span>amento) 42.086  10.985  677  53.748  Le \u201cvaria<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>PPA\u201d <span class=\"_ _0\"></span>inclusono <span class=\"_ _0\"></span>l\u2019effetto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>processo <span class=\"_ _22\"></span>di allocazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>quale <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>emersi plusvalori <span class=\"_ _29\"></span>relativi <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>marchi <span class=\"_ _2b\"></span>facenti capo <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>gruppo CU<span class=\"_ _29\"></span>LTI <span class=\"_ _2b\"></span>(Euro 9.031 <span class=\"_ _2b\"></span>migliaia) <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>alle <span class=\"_ _29\"></span>liste <span class=\"_ _2b\"></span>clienti <span class=\"_ _29\"></span>facenti <span class=\"_ _2b\"></span>capo<span class=\"_ _0\"></span> ad <span class=\"_ _28\"></span>alcune <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>gruppo <span class=\"_ _2c\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _2c\"></span>(Euro <span class=\"_ _2c\"></span>29.530 <span class=\"_ _2c\"></span>migliaia). <span class=\"_ _2c\"></span>Il <span class=\"_ _28\"></span>decrement<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Euro <span class=\"_ _2c\"></span>109.450 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>\u00e8 relativo <span class=\"_ _2f\"> </span>all<span class=\"ff5d\">\u2019allo<span class=\"_ _0\"></span>cazione <span class=\"_ _2f\"> </span>dell\u2019avviamento <span class=\"_ _41\"> </span>alle <span class=\"_ _2f\"> </span>diverse <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _2f\"> </span>e <span class=\"_ _41\"> </span>passi</span>vit\u00e0 <span class=\"_ _41\"> </span>di <span class=\"_ _2f\"> </span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>tenendo <span class=\"_ _41\"> </span>altres\u00ec <span class=\"_ _2f\"> </span>in considerazione <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>effetti <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>PPA <span class=\"_ _28\"></span>effettu<span class=\"_ _0\"></span>ata <span class=\"_ _28\"></span>dal <span class=\"_ _28\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>capo <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipata <span class=\"_ _2c\"></span>Magnet <span class=\"_ _28\"></span>(Euro 11.174 <span class=\"_ _22\"></span>migliaia); <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>ulteriori <span class=\"_ _22\"></span>dettagli <span class=\"_ _22\"></span>sui <span class=\"_ _22\"></span>valo<span class=\"_ _0\"></span>ri <span class=\"_ _22\"></span>identicati <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>sede <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>PPA <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>rimanda <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quanto <span class=\"_ _22\"></span>rappresentato nell<span class=\"ff5d\">\u2019informativa di seguito riportata.<span class=\"_ _0\"></span></span> Avviamento (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Cash Generating Unit Rame               342.540                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>342.540  Cash Generating Unit Profumi e Cosme<span class=\"_ _29\"></span>si                  27.776                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>27.776  Avviamento               370.316                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>         370.316    La <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>ecedente <span class=\"_ _0\"></span>tabella <span class=\"_ _22\"></span>evide<span class=\"ff5d\">nzia <span class=\"_ _22\"></span>l\u2019allocazione <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>avviamenti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span><span class=\"ff5a\">Cash <span class=\"_ _22\"></span>Generating <span class=\"_ _22\"></span>Unit</span></span>, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>coerenza con il settore di operativit\u00e0 del Gruppo<span class=\"_ _0\"></span>; la vita utile dell'avviamento \u00e8 indefinita.<span class=\"_ _0\"></span> L<span class=\"ff5d\">\u2019avviamento <span class=\"_ _2d\"> </span>iscritto <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span>31</span> <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2c\"></span>da <span class=\"_ _2d\"> </span>aggregazioni <span class=\"_ _2d\"> </span>aziendali <span class=\"_ _2c\"></span>e, <span class=\"_ _2d\"> </span>nello <span class=\"_ _2c\"> </span>specifico, <span class=\"_ _2d\"> </span>dal consolidamento <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>gruppo <span class=\"_ _22\"></span>KME, <span class=\"_ _22\"></span>attivo <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>settore <span class=\"_ _22\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _22\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>CULTI <span class=\"_ _0\"></span>Milano, <span class=\"_ _23\"></span>attivo <span class=\"_ _0\"></span>nel <span class=\"_ _22\"></span>settor<span class=\"_ _0\"></span>e dei profumi e della cosmesi. <span class=\"_ _0\"></span> Aggregazioni aziendali Contabil<span class=\"ff5d\">mente <span class=\"_ _0\"></span>(par. <span class=\"_ _0\"></span>B100 <span class=\"_ _0\"></span>dell\u2019IFRS <span class=\"_ _0\"></span>10)<span class=\"_ _0\"></span></span>, <span class=\"_ _0\"></span>infatti, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span><span class=\"ff5d\">\u201c</span>cambi<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>stato<span class=\"ff5d\">\u201d <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>e</span>ntit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>i<span class=\"ls1\">nv</span>estimento \u00e8 <span class=\"_ _0\"></span><span class=\"ls0\">stata <span class=\"_ _0\"></span>considerata <span class=\"_ _0\"></span>com<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione <span class=\"_ _22\"></span>presunta. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span></span>delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione </span>presunta <span class=\"_ _22\"></span>ha <span class=\"_ _0\"></span>rappresenta<span class=\"ls9\">to</span> <span class=\"_ _22\"></span><span class=\"ff5d\">il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _22\"></span>presunto <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>determinazione <span class=\"_ _22\"></span>dell\u2019avviamento. <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>cambio <span class=\"_ _22\"></span>di </span>stato <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>considerato <span class=\"_ _0\"></span><span class=\"ff5d\">infatti <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span>\u2019acquisizione, <span class=\"_ _0\"></span>cio<span class=\"_ _0\"></span>\u00e8</span> <span class=\"_ _0\"></span><span class=\"ff5d\">un<span class=\"_ _0\"></span>\u2019operazione <span class=\"_ _0\"></span>con <span class=\"_ _22\"></span>cui <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>attua <span class=\"_ _22\"></span>lo <span class=\"_ _0\"></span>scambio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni </span>aziendali <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>quello <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>consolidata) <span class=\"_ _23\"></span>contro <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>(<span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>della partecipazione); <span class=\"_ _23\"></span>ne <span class=\"_ _28\"></span>deriva <span class=\"_ _23\"></span>quin<span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>l\u2019applicazione <span class=\"_ _28\"></span>del<span class=\"ff56\"> <span class=\"_ _28\"></span></span>principio <span class=\"_ _23\"></span>contabile <span class=\"_ _28\"></span>IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _28\"></span>\u201cAggregazioni <span class=\"_ _23\"></span>aziendali\u201d <span class=\"_ _28\"></span>e l\u2019effettuazione del processo di \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Purchase Price Allocation<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d </span>(\u201cPPA\u201d) <span class=\"ff56\">come illustrato nel prosieguo.<span class=\"_ _0\"></span> </span>Nello <span class=\"_ _22\"></span>specifico, <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>quella <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>acquisizione <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esunta <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>30 <span class=\"_ _22\"></span>aprile <span class=\"_ _23\"></span>2022 come data di riferimento contabile pi\u00f9 prossima alla data d<span class=\"_ _0\"></span>i cambio di stato (22 aprile 2022)<span class=\"_ _0\"></span>. L'avviamento <span class=\"_ _28\"></span>iscritto, <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>producendo <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>modo <span class=\"_ _28\"></span>autonomo, <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>allocato <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>due <span class=\"_ _28\"></span>unit\u00e0 <span class=\"_ _28\"></span>di business generatrici di flussi finanziari (<span class=\"ff5a\">Cash Generating Unit<span class=\"ff5d\">, anche \u201c</span></span><span class=\"ls18\">CGU</span><span class=\"ff5d\">\u201d</span>) in cui viene suddivisa <span class=\"ff5d\">l\u2019attivit\u00e0 </span>dell\u2019aggregazione <span class=\"_ _0\"></span>aziendale: <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>profumi <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>della cosmesi.<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>L\u2019identificazione <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>CGU \u00e8 <span class=\"_ _28\"></span>stata <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>coerentemente <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>informazioni <span class=\"_ _2c\"></span>relative <span class=\"_ _28\"></span>ai<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>settori <span class=\"_ _2c\"></span>operativi <span class=\"_ _2c\"></span>della <span class=\"_ _28\"></span>Socie<span class=\"_ _22\"></span>t\u00e0, <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>sensi <span class=\"_ _28\"></span>de<span class=\"_ _0\"></span>l principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>internazionale <span class=\"_ _0\"></span>IFRS <span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>nonch\u00e9 <span class=\"_ _22\"></span>tenendo <span class=\"_ _0\"></span>conto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>liv<span class=\"_ _0\"></span>ello <span class=\"_ _0\"></span>inferiore <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>Societ\u00e0, <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>fini gestionali, monitora l\u2019andamento delle partecipate. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Pi\u00f9 <span class=\"_ _3b\"> </span>in <span class=\"_ _3b\"> </span>dettaglio, <span class=\"_ _3b\"> </span>l\u2019avviamento <span class=\"_ _3b\"> </span><span class=\"ff56\">in<span class=\"_ _0\"></span>izialmente <span class=\"_ _3b\"> </span>iscritto <span class=\"_ _3b\"> </span></span>nell\u2019<span class=\"_ _0\"></span>esercizio <span class=\"_ _3b\"> </span><span class=\"ff56\">accog<span class=\"ls9\">lie<span class=\"ls1\">va</span></span> <span class=\"_ _3b\"> </span><span class=\"ls9\">il <span class=\"_ _3b\"> </span></span>disavanz<span class=\"ls1\">o <span class=\"_ _3b\"> </span></span>da </span>consolidamento, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>365.260 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>tra <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _0\"></span>teorico <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>primo <span class=\"_ _22\"></span>consolidamento delle <span class=\"_ _0\"></span>partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>relativi <span class=\"_ _22\"></span>valori <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>patrimonio <span class=\"_ _0\"></span>netto <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>suddetta <span class=\"_ _0\"></span>data, tenuto conto delle interessenze di pertinenza della<span class=\"_ _0\"></span> Capogruppo.  Variazione area di consolida<span class=\"_ _29\"></span>mento (in migliaia di Euro) Aggregazione IFRS 3 Originario provvisoria Cash Generating Unit<span class=\"ff56\"> Rame  </span>             99.684   <span class=\"fc5 sc0\"> </span>             336.696  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Cash Generating Unit<span class=\"ff56\"> Profumi e Cosmesi <span class=\"_ _29\"></span> </span>                  3.398   <span class=\"fc5 sc0\"> </span>               28.564  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Avviamento ante PPA 103.082 365.260 Coerentemente <span class=\"_ _22\"></span>ai <span class=\"_ _23\"></span>requisiti <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>rmativi <span class=\"_ _23\"></span><span class=\"ff5d\">del <span class=\"_ _22\"></span>paragrafo <span class=\"_ _23\"></span>45 <span class=\"_ _22\"></span>dell\u2019IFRS <span class=\"_ _23\"></span>3, <span class=\"_ _23\"></span></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>procedu<span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>una <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tazione delle <span class=\"_ _2b\"></span>attivit\u00e0 nette <span class=\"_ _2b\"></span>acquisite <span class=\"_ _2b\"></span>e quindi <span class=\"_ _2b\"></span>alla <span class=\"_ _29\"></span><span class=\"ff5d\">contabilizzazione <span class=\"_ _29\"></span>iniziale <span class=\"_ _2b\"></span>entro il<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>\u201cperiodo di <span class=\"_ _2b\"></span>valutazione\u201d <span class=\"_ _2b\"></span>di ma<span class=\"_ _29\"></span>ssimi </span>12 mesi dalla data di acquisizione.<span class=\"_ _0\"></span> Tale di<span class=\"_ _0\"></span>savanzo <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>consolidamento, <span class=\"_ _0\"></span>alloc<span class=\"_ _0\"></span>ato <span class=\"_ _0\"></span>inizialmente <span class=\"_ _0\"></span><span class=\"ff5d\">interamente <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce \u201cAttivit\u00e0 <span class=\"_ _0\"></span>im<span class=\"_ _0\"></span>materiali\u201d</span> (Euro 365.260 migliaia), a fronte <span class=\"_ _29\"></span>di quanto emerso in sede <span class=\"_ _29\"></span>di PPA \u00e8 <span class=\"_ _29\"></span>stato parzialmente ri-allocato alle singole attivit\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span><span class=\"ff5d\">pass<span class=\"_ _0\"></span>ivit\u00e0 <span class=\"_ _29\"></span>iscritte <span class=\"_ _2b\"></span>in bilancio; <span class=\"_ _2b\"></span>l\u2019avviamento residuo <span class=\"_ _2b\"></span>dall\u2019aggregazione \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>ad <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>266.9<span class=\"_ _0\"></span><span class=\"ff56\">84 migliaia. </span></span>Come <span class=\"_ _29\"></span>indicato dai <span class=\"_ _2b\"></span>principi contabili, <span class=\"_ _29\"></span>infatti, <span class=\"_ _2b\"></span>l<span class=\"_ _0\"></span><span class=\"ff5d\">\u2019allocazione del <span class=\"_ _2b\"></span>valore <span class=\"ff56\">\u00e8 <span class=\"_ _2b\"></span>q<span class=\"_ _0\"></span>uindi variata <span class=\"_ _2b\"></span>in funzione <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair </span></span></span>value<span class=\"ff56\"> delle attivit\u00e0 e <span class=\"_ _0\"></span>passivit\u00e0 sui cui <span class=\"_ _0\"></span>\u00e8 stato allocato <span class=\"ff5d\">il <span class=\"_ _0\"></span>\u201cprezzo\u201d dell\u2019acquisizione nell\u2019ambito d<span class=\"_ _0\"></span>el processo di </span></span>Purchase Price Allocation<span class=\"ff56\"> da effettuare <span class=\"_ _0\"></span>ai sensi dell<span class=\"ff5d\">\u2019IFRS 3.<span class=\"_ _0\"></span></span> </span>L\u2019importo <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>tali <span class=\"_ _2e\"> </span>avviamenti, <span class=\"_ _2f\"> </span>inclusi <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>ell<span class=\"ff56\">i <span class=\"_ _2f\"> </span>originari <span class=\"_ _2e\"> </span>derivanti <span class=\"_ _2f\"> </span>dalle <span class=\"_ _2e\"> </span>due <span class=\"_ _2f\"> </span>CGU <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>incrementi<span class=\"_ _0\"></span> </span>dell\u2019esercizio ammontano ad Euro 370.316 migliaia.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Variazione area di Fondo Totale Incrementi consolidamento IFRS 10 Svalutazione 31/12/22 (in migliaia di Euro) Aggregazione  Originario IFRS 3 definitiva Cash Generating Unit Rame       99.684   <span class=\"fc5 sc0\"> </span>         242.856   <span class=\"fc5 sc0\"> </span>               -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>342.540    Cash Generating Unit Profumi e Cosmesi <span class=\"_ _29\"></span>         3.398   <span class=\"fc5 sc0\"> </span>          24.128               250   <span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>  <span class=\"ls0\">27.776    </span>Avviamento post PPA     <span class=\"ls0\">103.082   <span class=\"fc5 sc0\"> </span></span>        266.984               250   <span class=\"fc5 sc0\"> </span>                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>370.316    Purchase Price Allocation (PPA) Di seguito si rappresentano i plu<span class=\"_ _0\"></span>svalori/minusvalori identificati in<span class=\"_ _0\"></span> sede di PPA. CGU CGU Rame Profumi e Totale Cosmesi Originario 99.684 3.398 103.082 Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 provvis<span class=\"_ _29\"></span>oria (A) 336.696 28.564 365.260 Goodwill da analizzare in se<span class=\"_ _29\"></span>de PPA 436.380 31.962 468.342 Effetti PPA sulle voci di bil<span class=\"_ _29\"></span>ancio 29.530  9.031  38.561  Attivit\u00e0 immateriali 116.923   -<span class=\"lsd\">  </span> 116.923  Immobili, impianti e macchinari<span class=\"_ _0\"></span> (1.811)  -<span class=\"lsd\">  </span> (1.811) Investimenti immobiliari (11.184)  -<span class=\"lsd\">  </span> (11.184) Partecipazioni (4.627) (2.075) (6.702) Patrimonio netto di Terzi (42.427) (2.520) (44.947) Passivit\u00e0 per imposte differite 7.436   -<span class=\"lsd\">  </span> 7.436  Attivit\u00e0 non correnti detenute per la vendita<span class=\"_ _0\"></span> Valori allocati PPA (B)            93.840              4.436      <span class=\"ls0\">98.276   <span class=\"fc5 sc0\"> </span></span>Originario        <span class=\"lsb\">   </span>99.684           <span class=\"lsb\">   </span>3.398    10<span class=\"ls0\">3.082   <span class=\"fc5 sc0\"> </span></span>Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 definiti<span class=\"_ _29\"></span>va (A - <span class=\"ls63\">B)</span>          242.856            24.128    266.984   <span class=\"fc5 sc0\"> </span>Goodwill residuo post PP<span class=\"_ _29\"></span>A           342.540            27.526    370.066   <span class=\"fc5 sc0\"> </span>Impairment test del valore degli avviamenti <span class=\"_ _0\"></span>iscritti in bilancio al <span class=\"_ _0\"></span>31 dicembre <span class=\"ls1\">2022</span> L\u2019avviamento <span class=\"_ _2e\"> </span>acquisito <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>un\u2019agg<span class=\"_ _0\"></span>regazione <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _8b\"> </span>alloca<span class=\"_ _0\"></span>to <span class=\"_ _8b\"> </span>alle <span class=\"_ _2e\"> </span>unit\u00e0 <span class=\"_ _2e\"> </span>generatrici <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>flussi finanziari. <span class=\"_ _2b\"></span>L\u2019avviamento, iscritto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quanto <span class=\"_ _29\"></span>rappresentativo <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>capacit\u00e0 <span class=\"_ _2b\"></span>reddituali <span class=\"_ _2b\"></span>fu<span class=\"_ _0\"></span>ture <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>CGU, <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>indi delle <span class=\"_ _2a\"> </span>partecipate, <span class=\"_ _2a\"> </span>periodicamente <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>sotto<span class=\"_ _0\"></span>posto <span class=\"_\"> </span>test <span class=\"_ _2d\"> </span>di <span class=\"_\"> </span>verifica <span class=\"_ _2d\"> </span>del <span class=\"_\"> </span>valore, <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>livello <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>sing<span class=\"_ _0\"></span>ola <span class=\"_ _2a\"> </span>CGU, <span class=\"_ _2a\"> </span>per identificare <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>riduzioni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>identificarsi <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _0\"></span>della <span class=\"_ _23\"></span>differenza <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>iscrizione dell\u2019avviamento <span class=\"_ _2d\"> </span>ed <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>realizzo, <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"> </span>maggiore <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span><span class=\"ls1\">de</span></span></span>ll\u2019unit\u00e0 <span class=\"_ _2d\"> </span>generatrice <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>flussi finanziari, al netto degli eventuali costi di v<span class=\"_ _0\"></span>endita, e l\u2019eventuale relativo valore d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Vi <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>una <span class=\"_ _0\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>ogniqualvolta <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">carrying <span class=\"_ _22\"></span>amount</span>\u201d) <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un\u2019attivit\u00e0 <span class=\"_ _22\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _0\"></span>intesa </span>individualmente <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>CGU, <span class=\"_ _23\"></span>ovvero <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>\u201ccentro <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>ricavo\u201d <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>minori <span class=\"_ _22\"></span>dimensioni <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>possibile <span class=\"_ _23\"></span>imputare specifici flussi di cassa <span class=\"ff5d\">\u2013</span> <span class=\"ff5d\">\u00e8 maggio<span class=\"_ _0\"></span>re del \u201cvalore recuperabile\u201d della stessa (\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span>\u201d).</span> A tal fine, l\u2019avviamento deve essere allocato a s<span class=\"ff56\">ingole o a gruppi di unit\u00e0 generatrici di flussi fin<span class=\"_ _0\"></span>anziari </span>dell\u2019acquirente in <span class=\"_ _2b\"></span>modo che <span class=\"_ _2b\"></span>tali unit\u00e0 <span class=\"_ _29\"></span>beneficino <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>sinergie <span class=\"_ _29\"></span>dell\u2019aggregazione, indipendentemente <span class=\"_ _2b\"></span>dal fatto che altre attivit\u00e0 o passivit\u00e0 dell\u2019acquisito<span class=\"_ _0\"></span> siano assegnate a tali unit\u00e0 o gruppi <span class=\"_ _0\"></span><span class=\"ff56\">di unit\u00e0. </span>I <span class=\"_ _28\"></span>test <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _28\"></span>erano <span class=\"_ _28\"></span>stati <span class=\"_ _28\"></span>gi\u00e0 <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>30 <span class=\"_ _28\"></span>giugno <span class=\"_ _28\"></span>2022 <span class=\"_ _28\"></span>senza <span class=\"_ _28\"></span>dare <span class=\"_ _28\"></span>evidenza <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>problemi <span class=\"_ _28\"></span>di recuperabilit\u00e0. <span class=\"_ _2d\"> </span>Nonostante <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>siano <span class=\"_ _2c\"> </span>emersi <span class=\"_ _2d\"> </span>indicatori <span class=\"_ _2c\"></span>specifici <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span><span class=\"ff5a\">impairment</span> <span class=\"_ _2d\"> </span>sulle singole <span class=\"_ _28\"></span>CGU, <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>natura <span class=\"_ _28\"></span>interna <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _28\"></span>esterna, <span class=\"_ _28\"></span>tenendo <span class=\"_ _28\"></span>altres\u00ec <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>considerazione <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>prezzi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>borsa <span class=\"_ _28\"></span>della Capogruppo risultano <span class=\"_ _0\"></span>inferiori al <span class=\"_ _0\"></span>valore di <span class=\"_ _0\"></span>patrimonio netto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>azione, per ciascuna <span class=\"_ _0\"></span>CGU sono <span class=\"_ _0\"></span>stati <span class=\"_ _0\"></span>condotti sul <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019avviamento <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>31</span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _0\"></span>specifici <span class=\"_ _22\"></span><span class=\"ff5a\">test</span> <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a ls9\">im<span class=\"ls0\">pairment</span></span> <span class=\"_ _22\"></span><span class=\"ff5d\">anche <span class=\"_ _22\"></span>con <span class=\"_ _0\"></span>l\u2019ausilio <span class=\"_ _22\"></span>di </span>un consulente esterno. Le metodologie utilizzate per i <span class=\"_ _29\"></span>test di <span class=\"ff5a\">impairment</span> sono similari a quelle utilizzate dalla Capogruppo, <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>fini <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>relazione <span class=\"_ _2b\"></span>finanziaria annuale <span class=\"_ _2b\"></span>2021, <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>degli <span class=\"_ _29\"></span>investimenti <span class=\"_ _2b\"></span>partecipat<span class=\"_ _0\"></span>ivi valutati al <span class=\"ff5a\">fair value</span>, nonch\u00e9 delle valutazion<span class=\"_ _0\"></span>i effettuate in sede semestrale 2022.<span class=\"_ _0\"></span> I <span class=\"_ _23\"></span>suddetti <span class=\"_ _22\"></span>test <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stati <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>tenendo <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>evisioni <span class=\"_ _23\"></span>dello <span class=\"_ _23\"></span>IAS <span class=\"_ _22\"></span>36 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle raccomandazioni ESMA <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>Consob e <span class=\"_ _2b\"></span>quindi tenendo i<span class=\"_ _29\"></span>n considerazione tutti <span class=\"_ _2b\"></span>i potenziali effetti <span class=\"_ _2b\"></span>di natura esterna derivanti dagli effetti della pandemia e dal con<span class=\"_ _0\"></span>flitto Russia-<span class=\"ff5d\">Ucraina sull\u2019attivit\u00e0 del Grup<span class=\"_ _0\"></span>po.</span> Le <span class=\"_ _22\"></span>analisi <span class=\"_ _22\"></span>condotte <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>confermato <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>esposto <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circostanze <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>richiedano <span class=\"_ _22\"></span>la ripetizione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>test <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> sede<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>redazione <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Relazione <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>annuale. <span class=\"_ _0\"></span>Tu<span class=\"_ _0\"></span>ttavia, alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>della <span class=\"_ _28\"></span>continua <span class=\"_ _23\"></span>incertezza <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>contraddistingue <span class=\"_ _23\"></span>lo <span class=\"_ _28\"></span>scenario <span class=\"_ _23\"></span>macroeconomico <span class=\"_ _28\"></span>internazionale <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle forti tensioni sui <span class=\"_ _0\"></span>mercati fi<span class=\"_ _0\"></span>nanziari che <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span><span class=\"ff5d\">determinato <span class=\"_ _0\"></span>un\u2019oscillazione neg<span class=\"_ _0\"></span>ativa anche <span class=\"_ _0\"></span>della quotazion<span class=\"_ _0\"></span>e di </span>Borsa <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>Societ\u00e0 <span class=\"_ _29\"></span>(che <span class=\"_ _2b\"></span>evid<span class=\"_ _0\"></span>enziava <span class=\"_ _29\"></span>a <span class=\"_ _29\"></span>fine <span class=\"_ _29\"></span>giugno <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>permanere <span class=\"_ _2b\"></span>di una <span class=\"_ _2b\"></span>capitalizzazio<span class=\"_ _0\"></span>ne inferiore<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>patrimonio netto <span class=\"_ _2d\"> </span>contabile) <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>Gruppo, <span class=\"_ _2d\"> </span>accogliendo <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>indicazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>prudenza <span class=\"_ _2d\"> </span>evid<span class=\"_ _0\"></span>enziate <span class=\"_ _2d\"> </span>da<span class=\"_ _22\"></span>i <span class=\"_ _2d\"> </span>sopracitati <span class=\"_ _2a\"> </span>Organismi Regolamentari, <span class=\"_\"> </span>ha <span class=\"_\"> </span>comunque <span class=\"_\"> </span>effettuato <span class=\"_\"> </span>l\u2019<span class=\"ff5a\">impairment<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_\"> </span>test <span class=\"_\"> </span>delle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_\"> </span>immateriali <span class=\"_\"> </span>iscritte <span class=\"_\"> </span>nel <span class=\"_\"> </span>Bilancio </span></span>Consolidato e riferite alle due <span class=\"ff5a\">Cash Generat<span class=\"_ _0\"></span>ing Unit</span> identificate. In ossequio al principio contabile internazionale IAS 36, le proiezioni dei flussi finanziari utilizzate per la <span class=\"_ _2c\"></span>determinazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>valore <span class=\"_ _2d\"> </span>recuperabile <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>immaterial<span class=\"_ _0\"></span>i <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"> </span>vi<span class=\"_ _0\"></span>ta <span class=\"_ _2c\"></span>utile <span class=\"_ _2c\"></span>indefinita, <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2d\"> </span>particolare dell\u2019avviamento, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>state <span class=\"_ _22\"></span>riviste <span class=\"_ _22\"></span>basandosi <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>ultime <span class=\"_ _0\"></span>sti<span class=\"_ _0\"></span>me <span class=\"_ _22\"></span>disponibili <span class=\"_ _22\"></span>(indicate <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>Piani<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>Industriali <span class=\"_ _22\"></span>e/o </span>budget), op<span class=\"_ _0\"></span>portunamente riesamin<span class=\"_ _0\"></span>ate sulla <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>presupposti <span class=\"_ _0\"></span>ragionevoli <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>dimostrabili al <span class=\"_ _0\"></span>fine <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>riflettere i<span class=\"_ _0\"></span> risultati <span class=\"_ _2c\"></span>nel <span class=\"_ _2c\"></span>frattempo <span class=\"_ _2c\"></span>consuntivati <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>grado <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>rappresentare <span class=\"_ _2c\"></span>ad <span class=\"_ _2d\"> </span>oggi <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>migliore <span class=\"_ _2c\"> </span>stima <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>condizioni economiche future <span class=\"ff5d\">attese e svolgendo analisi <span class=\"_ _29\"></span>di sensitivit\u00e0 in <span class=\"_ _29\"></span>merito ai potenziali impatti derivanti dall\u2019attuale </span>contesto geopolitico e sanitario sulle assunzio<span class=\"_ _0\"></span>ni sottostanti le stime effettuate.<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">CGU Rame </span></span>Il test <span class=\"_ _29\"></span>di <span class=\"ff5a\">impairment</span> <span class=\"_ _2b\"></span>sulla CGU rame <span class=\"_ _29\"></span>(al 31 <span class=\"_ _29\"></span>dicembre 2022 <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re avviamento <span class=\"_ _29\"></span>pari <span class=\"_ _29\"></span>ad Euro <span class=\"_ _29\"></span>342,5 milioni) \u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>metodologia <span class=\"_ _23\"></span>dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _23\"></span>discounted <span class=\"_ _23\"></span>cash <span class=\"_ _22\"></span>flow<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>(UDCF) <span class=\"_ _22\"></span>attualizzando <span class=\"_ _23\"></span>i </span></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019effetto fiscale).<span class=\"_ _0\"></span></span> Il <span class=\"_ _2c\"></span>metodo <span class=\"_ _2c\"></span>UDCF <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _28\"></span>svilup<span class=\"_ _0\"></span>pato <span class=\"_ _2c\"></span>utilizzando <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>base <span class=\"_ _2c\"> </span>info<span class=\"_ _0\"></span>rmativa <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>proiezioni <span class=\"_ _2d\"> </span>economiche <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>le<span class=\"_ _0\"></span> variazioni <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>alcune <span class=\"_ _23\"></span>poste <span class=\"_ _23\"></span>patrimoniali <span class=\"_ _23\"></span>contenute <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Piano <span class=\"_ _22\"></span>Industriale <span class=\"_ _23\"></span>2023 <span class=\"_ _23\"></span>- <span class=\"_ _23\"></span><span class=\"ls1\">2027</span> <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>\u201cPiano\u201d </span>elaborato ed <span class=\"_ _2b\"></span>a<span class=\"_ _0\"></span>pprovato dagli <span class=\"_ _29\"></span>organi amministrativi <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>KME SE <span class=\"_ _2b\"></span>il 24 marzo <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>23) a <span class=\"_ _29\"></span>partire <span class=\"_ _29\"></span>dai flussi <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>primo semestre 2023 e tenendo conto<span class=\"_ _0\"></span> dei dati consuntivi al 31 dicembre 20<span class=\"_ _0\"></span>22. <span class=\"ls7\">Il </span>Piano approvato riflette la migliore stima <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali <span class=\"_ _23\"></span>sviluppi <span class=\"_ _28\"></span>macroeconomici <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>potrebbero <span class=\"_ _28\"></span>influenzare <span class=\"_ _23\"></span>l'attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>gruppo KME SE. Il <span class=\"ff5a ls0\">terminal <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">\u00e8 <span class=\"_ _29\"></span>stato calcolato <span class=\"_ _29\"></span>assumendo l\u2019EBITDA <span class=\"_ _29\"></span>di lungo <span class=\"_ _29\"></span>periodo pari <span class=\"_ _29\"></span>alla <span class=\"_ _29\"></span>media dell\u2019EBITDA <span class=\"_ _29\"></span>di </span></span></span>Piano <span class=\"_ _29\"></span>(periodo <span class=\"_ _29\"></span>esplicito, <span class=\"_ _29\"></span>1 <span class=\"_ _2b\"></span>gennaio 2023 <span class=\"_ _2b\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _29\"></span>2027), con <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>livello <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammortamento <span class=\"_ _2b\"></span>c<span class=\"_ _0\"></span>orrispondente </span></span>agli <span class=\"_ _29\"></span>investimenti, <span class=\"_ _29\"></span><span class=\"ff5d\">utilizzando <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>tasso di <span class=\"_ _2b\"></span>crescita <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>lungo <span class=\"_ _2b\"></span>periodo<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>\u201cg\u201d <span class=\"_ _2b\"></span>pari a <span class=\"_ _2b\"></span>zero <span class=\"_ _29\"></span>giungendo <span class=\"_ _29\"></span>ad <span class=\"_ _2b\"></span>un WACC <span class=\"_ _2b\"></span>pari </span>a <span class=\"_ _22\"></span>9,67% <span class=\"_ _23\"></span>(tasso <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>9,35% <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>valutazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span></span>effettuate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021)<span class=\"_ _0\"></span><span class=\"fs1\"> <span class=\"_ _23\"></span></span>tenendo <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei dati storici registrati. Conformemente <span class=\"_ _0\"></span>alle <span class=\"_ _22\"></span>indicazioni <span class=\"_ _0\"></span>metodologiche <span class=\"_ _22\"></span>fornite <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>IAS <span class=\"_ _0\"></span>36 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>altres\u00ec <span class=\"_ _0\"></span>effettuat<span class=\"_ _0\"></span>a un\u2019<span class=\"ff56 ls0\">analisi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>sensitivit\u00e0 <span class=\"_ _2b\"></span>al fine <span class=\"_ _2b\"></span>di comprendere <span class=\"_ _2b\"></span>come il <span class=\"_ _2b\"></span>valore recuperabile <span class=\"_ _2b\"></span>possa variare <span class=\"_ _2b\"></span>a seguito <span class=\"_ _2b\"></span>di variazioni </span>del <span class=\"_ _2d\"> </span>valore <span class=\"_ _2d\"> </span>dell\u2019EBITDA <span class=\"_ _2d\"> </span>(decremento<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>5% <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>10%) <span class=\"_ _2d\"> </span>sul <span class=\"_ _2d\"> </span><span class=\"ff5a\">te<span class=\"_ _0\"></span>rminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Peraltro, <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>fine <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>meglio </span>apprezzare la sensibilit\u00e0 <span class=\"_ _0\"></span>dei risultati dell\u2019<span class=\"_ _0\"></span><span class=\"ff5a\">impairment t<span class=\"_ _0\"></span><span class=\"ff56\">est rispetto alle <span class=\"_ _0\"></span>variazioni degli <span class=\"_ _0\"></span>assunti di base, <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>parit\u00e0 </span></span>di <span class=\"_ _2b\"></span>tasso <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>(<span class=\"_ _0\"></span>pari <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>zero), <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _2b\"></span>svolta, <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>fini <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span><span class=\"ff5d\">del valore <span class=\"_ _2b\"></span>d\u2019uso, <span class=\"_ _2b\"></span><span class=\"ff56\">anche <span class=\"_ _29\"></span><span class=\"ff5d\">un\u2019analisi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">sensitivit\u00e0<span class=\"ff5a\"> </span></span></span></span></span>rispetto <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>attualizzazione <span class=\"_ _2c\"></span>complessivo <span class=\"_ _2c\"></span>WACC <span class=\"_ _28\"></span>(<span class=\"ls9\">in<span class=\"_ _0\"></span></span>cremento <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>0,5% <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>1,0%) <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _2c\"></span>del calcolo <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">terminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Sia <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>peggio<span class=\"_ _0\"></span>ramento <span class=\"_ _2d\"> </span>congiunto <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>parametri <span class=\"_ _2d\"> </span>di EBITDA <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>WACC<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span><span class=\"ff5d ls9\">l\u2019</span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test</span> <span class=\"_ _22\"></span>effettuato <span class=\"_ _22\"></span><span class=\"ls1\">ha</span> <span class=\"_ _0\"></span>accertato <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sussistono <span class=\"_ _22\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span><span class=\"ls64\">CGU </span>Rame<span class=\"fs1\">.</span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a ls18\">CGU <span class=\"ls0\">Profumi e Cosmesi </span></span></span>Il test di <span class=\"ff5a\">impairment</span> sulla CGU Profumi e Co<span class=\"_ _0\"></span>smesi (al 31 dicembre 20<span class=\"_ _0\"></span>22 valore avviamento pari ad Euro 27,8 <span class=\"_ _0\"></span>milioni), <span class=\"_ _0\"></span>\u00e8 stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> sulla <span class=\"_ _0\"></span>base<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _0\"></span>discounted <span class=\"_ _0\"></span>cash <span class=\"_ _0\"></span>flow</span></span> <span class=\"_ _0\"></span>(UDCF) <span class=\"_ _0\"></span>attualizzando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019ef</span>fetto fiscale). <span class=\"_ _0\"></span> Il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>recuperabile <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>determinato <span class=\"_ _23\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5a\">Sum <span class=\"_ _22\"></span>of <span class=\"_ _22\"></span>Parts</span>, <span class=\"_ _22\"></span>considerando <span class=\"_ _23\"></span>i valori di CULTI Milano SpA e delle societ\u00e0 afferenti<span class=\"_ _0\"></span> al proprio<span class=\"_ _0\"></span> gruppo<span class=\"lsb\">. </span> Per <span class=\"_ _2d\"> </span>ogni <span class=\"_ _2d\"> </span>parte <span class=\"_ _2a\"> </span>(entit\u00e0), <span class=\"_ _2d\"> </span>i<span class=\"lsa\">l <span class=\"_ _2d\"> </span></span><span class=\"ff5a\">termina<span class=\"_ _0\"></span>l <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2d\"> </span>calcolato <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>relativo <span class=\"_ _2a\"> </span>EBITDA <span class=\"_ _2d\"> </span>storico <span class=\"_ _2d\"> </span>e considerando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>previsionali <span class=\"_ _0\"></span>(periodo <span class=\"_ _0\"></span>esplicito, <span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>gennaio <span class=\"_ _0\"></span>2023 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2025<span class=\"ls7\">),</span> <span class=\"_ _0\"></span>utilizzando <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>tasso<span class=\"_ _0\"></span> di <span class=\"_ _22\"></span>crescita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>lungo <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>\u201cg\u201d <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>zero<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>giungendo <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>WACC <span class=\"_ _23\"></span>specifico <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>ciascuna <span class=\"_ _23\"></span>parte <span class=\"_ _22\"></span>(entit\u00e0); </span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>contributo di <span class=\"_ _0\"></span>ciascun <span class=\"_ _0\"></span>Paese all\u2019EBITDA <span class=\"_ _0\"></span>Terminal <span class=\"_ _0\"></span>Value, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>tasso di <span class=\"_ _0\"></span>sconto medio <span class=\"_ _0\"></span>ponderato<span class=\"_ _0\"></span> applicato all\u2019impairment test della CGU <span class=\"_ _0\"></span><span class=\"ff56\">Profumi e Cosmesi si attesta attorno<span class=\"_ _0\"></span> al 10,89%. </span>Anche <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>CGU <span class=\"_ _0\"></span>Pro<span class=\"_ _0\"></span>fumi <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>Cosmesi, <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ciascuna <span class=\"_ _0\"></span>parte, <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _0\"></span>effettuata <span class=\"_ _0\"></span><span class=\"ff5d ls9\">l\u2019</span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>fine di <span class=\"_ _2e\"> </span>comprendere <span class=\"_ _2e\"> </span>la <span class=\"_ _2e\"> </span>variazione <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _2e\"> </span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span><span class=\"ff5d\">a <span class=\"_ _8b\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _8b\"> </span>dell\u2019EBITD<span class=\"_ _0\"></span>A </span>(decremento <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>5% <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>10%) <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">terminal <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>e<span class=\"lsb\">, <span class=\"_ _23\"></span></span>a <span class=\"_ _23\"></span>parit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>crescita <span class=\"_ _23\"></span>(pari <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>zero), <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di attualizzazione complessivo WACC<span class=\"_ _0\"></span> (<span class=\"ls9\">in</span>cremento di 0,5% e 1,0%).  Sia <span class=\"_\"> </span>nel <span class=\"_ _2e\"> </span>caso <span class=\"_ _8b\"> </span>base <span class=\"_ _8b\"> </span>che <span class=\"_ _2e\"> </span>nel <span class=\"_ _8b\"> </span>caso <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>peggioramento <span class=\"_ _8b\"> </span>congiunto<span class=\"_ _0\"></span> <span class=\"_\"> </span>dei <span class=\"_ _8b\"> </span>param<span class=\"_ _0\"></span>etri <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>EBITDA<span class=\"_ _0\"></span> <span class=\"_\"> </span>e <span class=\"_ _2e\"> </span>WACC, l\u2019<span class=\"ff5a ls0\">impairment test<span class=\"ff56\"> effettuato <span class=\"ls1\">ha</span> accertato che non<span class=\"_ _0\"></span> sussistono perd<span class=\"_ _0\"></span>ite di valo<span class=\"ls7\">re</span> sulla <span class=\"ls18\">CGU </span>Profumi e Cosmesi<span class=\"_ _0\"></span><span class=\"fs1\">.</span> </span></span>Inoltre, <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>arimenti <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>ai <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value</span> <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato redatto <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2021 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>semestrale <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span><span class=\"ff5a\">, <span class=\"_ _22\"></span>s</span>ono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>condotte analisi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>liq<span class=\"_ _0\"></span>uidit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span><span class=\"ff5a\">trend<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>borsa <span class=\"_ _22\"></span>(sui <span class=\"_ _22\"></span>volumi <span class=\"_ _22\"></span>scambiati, <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>termini <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>numero <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> controvalore <span class=\"_ _0\"></span>monetario <span class=\"_ _0\"></span>scambiato) <span class=\"_ _0\"></span>anche <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span><span class=\"ff5a\">comparables</span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>evidenziato <span class=\"_ _0\"></span>che nel <span class=\"_ _0\"></span>corso <span class=\"_ _22\"></span>dell\u2019ultimo <span class=\"_ _22\"></span>anno<span class=\"ff56\"> <span class=\"_ _0\"></span>(3 <span class=\"_ _22\"></span>gennaio <span class=\"_ _22\"></span>2022 <span class=\"_ _0\"></span></span>\u2013<span class=\"ff56\"> <span class=\"_ _22\"></span>31 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _0\"></span>2022<span class=\"_ _0\"></span>), <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>diversi <span class=\"_ _0\"></span>orizzonti <span class=\"_ _22\"></span>temporali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>1 <span class=\"_ _22\"></span>mese, <span class=\"_ _0\"></span>3 </span>mesi, <span class=\"_ _2c\"></span>6 <span class=\"_ _2c\"> </span>mesi <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>anno, <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>volumi <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>s<span class=\"_ _29\"></span>cambio <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"> </span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _2d\"> </span>CULTI <span class=\"_ _2c\"></span>Milano <span class=\"_ _2c\"> </span>sono <span class=\"_ _2c\"> </span>stati <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>linea <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"> </span>quelli <span class=\"_ _2d\"> </span>dei comparables<span class=\"ff56\"> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>ci\u00f2 <span class=\"_ _22\"></span>condurrebbe <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>ritenere <span class=\"_ _22\"></span>comun<span class=\"_ _0\"></span>que <span class=\"_ _22\"></span>significativo <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>quotazioni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa </span>al fine di determinare il valore corrente teorico <span class=\"_ _0\"></span>di CULTI Milano<span class=\"_ _0\"></span> utile ai fini del test di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span>. Anche <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>v<span class=\"_ _0\"></span>alorizzazione <span class=\"_ _22\"></span>risulterebbe <span class=\"_ _22\"></span>superiore <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>esame <span class=\"_ _22\"></span>(valore <span class=\"_ _22\"></span>unitario azione pari ad Euro 20,20). Risultanze del test sulle CGU identificate<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>esiti <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span><span class=\"ff5a\">impairment <span class=\"_ _0\"></span>test</span> <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>hanno <span class=\"_ _22\"></span>evidenziato <span class=\"_ _0\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>degli <span class=\"_ _0\"></span>avviamenti <span class=\"_ _22\"></span>iscritti, <span class=\"_ _0\"></span>sia <span class=\"_ _22\"></span>nello scenario di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>ipotizzati <span class=\"_ _0\"></span>dalle <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>effettua<span class=\"_ _0\"></span>te<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>(peggioramento <span class=\"_ _0\"></span>congiunto di EBITDA e WACC), con<span class=\"_ _0\"></span> un <span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span> delle CGU sempre superiore al v<span class=\"_ _0\"></span>alore di <span class=\"ff5a\">carrying amou<span class=\"_ _0\"></span>nt</span> evidenziato nel presente Bilancio Con<span class=\"_ _0\"></span>solidato.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__86": {
   "value": "4.3.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Attivit\u00e0 immateriali (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Software<span class=\"ff56\">, brevetti e licenze </span>23.515   -<span class=\"lsd\">  </span> 23.515  Acconti e costruzioni in corso 2.184   -<span class=\"lsd\">  </span> 2.184  Altre 28.049  12  28.037  Avviamento 370.316   -<span class=\"lsd\">  </span> 370.316  Attivit\u00e0 immateriali 424.064  12  424.052  Nel corso dell\u2019esercizio <span class=\"ff56\">le movimentazioni so<span class=\"_ _0\"></span>no cos\u00ec analizzabili: </span>Software, Imm. (in migliaia di Euro) brevetti e immateriali  Altre Avviamento Totale licenze in corso Valore lordo  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 30   -<span class=\"lsd\">  </span> 30  Ammortamenti accumulati  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 18   -<span class=\"lsd\">  </span> 18  Totale al 31 dicembre 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 12   -<span class=\"lsd\">  </span> 12<span class=\"ls0\">  </span>Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2021  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 30   -<span class=\"lsd\">  </span> 30  Acquisti <span class=\"ff5d\">dell\u2019esercizio</span> 388  305  268  250  1.211  Riclassificazioni 146  839   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 985  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) IFRS 10 33.560  1.134  655  479.516  514.865  Variazione area di consolida<span class=\"_ _29\"></span>mento (costo) KME SE 688   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 688  Variazioni PPA 9.031   -<span class=\"lsd\">  </span> 29.530  (109.450) (70.889) Decrementi (costo) (222) (94)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (316) Valore lordo al 31 dicembr<span class=\"_ _29\"></span>e 2022 43.591  2.184  30.483  370.316  446.574  Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2021  -<span class=\"lsd\">  </span> 2.976  18  199.368  202.362  Variazione area di consolida<span class=\"_ _29\"></span>mento (fondo) IFRS 10 17.525   -<span class=\"lsd\">  </span> 320   -<span class=\"lsd\">  </span> 17.845  Variazione area di consolida<span class=\"_ _29\"></span>mento (fondo) KME SE  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Ammortamenti,<span class=\"ff5a\"> impairment</span> e <span class=\"_ _29\"></span>svalutazioni 1.652   -<span class=\"lsd\">  </span> 2.096   -<span class=\"lsd\">  </span> 3.748  Riclassificazioni 1.009   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.009  Decrementi (fondo amm<span class=\"_ _29\"></span>ortamento) (110)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (110) Ammortamenti cumulati al 31 dicembre<span class=\"_ _29\"></span> 2022 20.076   -<span class=\"lsd\">  </span> 2.434   -<span class=\"lsd\">  </span> 22.510  Valore lordo 43.591  2.184  30.483  370.316  446.574  Ammortamenti accumulati 20.076   -<span class=\"lsd\">  </span> 2.434   -<span class=\"lsd\">  </span> 22.510  Totale al 31 dicembre 2022 23.515  2.184  28.049  370.316  424.064  La <span class=\"_ _2b\"></span>voce, <span class=\"_ _2b\"></span>rico<span class=\"_ _0\"></span>nducibile <span class=\"_ _2b\"></span>principalmente<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>a<span class=\"ff5d\">l <span class=\"_ _29\"></span>valore <span class=\"_ _2b\"></span>degli <span class=\"_ _2b\"></span>avviamenti, <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>incrementa <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"ff56\">in <span class=\"_ _2b\"></span>esame </span></span>a fronte del primo consolidamento delle controllate KME SE e <span class=\"_ _0\"></span>CULTI Milano, avvenuto al 30 aprile 2022, in applicazione <span class=\"_ _2b\"></span>delle previsioni <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>paragrafo <span class=\"_ _2b\"></span>B100 <span class=\"_ _29\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>10 e <span class=\"_ _2b\"></span>quindi <span class=\"_ _2b\"></span>dei <span class=\"_ _29\"></span>requisiti <span class=\"_ _29\"></span>dell\u2019IFRS <span class=\"_ _2b\"></span>3 (Aggregazioni aziendali). -  Il <span class=\"_ _2b\"></span>valore <span class=\"_ _2b\"></span>delle <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>immateriali, <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>dell\u2019avv<span class=\"_ _0\"></span>iamento, <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>vita <span class=\"_ _2b\"></span>utile <span class=\"_ _2b\"></span>definita <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>rappresenta <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>valore del costo al netto degli ammortamenti registrati.<span class=\"_ _0\"></span>  Vita utile Attivit\u00e0 immateriali a vita util<span class=\"_ _29\"></span>e definita da 3 <span class=\"ls21\">a </span>10 anni Al <span class=\"_ _22\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>2022<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>n <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _23\"></span>iscritte <span class=\"_ _22\"></span>riduzioni <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>voce<span class=\"_ _0\"></span>; <span class=\"_ _23\"></span>gli <span class=\"_ _22\"></span>avviamenti <span class=\"_ _23\"></span>iscritti <span class=\"_ _22\"></span>in bilancio sono stati sottoposti ad <span class=\"_ _0\"></span><span class=\"ff5a\">impairment test</span>. Di seguito la ripartizione per area geografica:<span class=\"_ _0\"></span> Altri Paesi (in migliaia di Euro) Italia Germania Totale stranieri Attivit\u00e0 immateriali (escl. Avvi<span class=\"_ _29\"></span>amento) 42.086  10.985  677  53.748  Le \u201cvaria<span class=\"_ _0\"></span>zioni <span class=\"_ _0\"></span>PPA\u201d <span class=\"_ _0\"></span>inclusono <span class=\"_ _0\"></span>l\u2019effetto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>processo <span class=\"_ _22\"></span>di allocazion<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>prezzo <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>quale <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>emersi plusvalori <span class=\"_ _29\"></span>relativi <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>marchi <span class=\"_ _2b\"></span>facenti capo <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>gruppo CU<span class=\"_ _29\"></span>LTI <span class=\"_ _2b\"></span>(Euro 9.031 <span class=\"_ _2b\"></span>migliaia) <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>alle <span class=\"_ _29\"></span>liste <span class=\"_ _2b\"></span>clienti <span class=\"_ _29\"></span>facenti <span class=\"_ _2b\"></span>capo<span class=\"_ _0\"></span> ad <span class=\"_ _28\"></span>alcune <span class=\"_ _2c\"></span>societ\u00e0 <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"></span>gruppo <span class=\"_ _2c\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _2c\"></span>(Euro <span class=\"_ _2c\"></span>29.530 <span class=\"_ _2c\"></span>migliaia). <span class=\"_ _2c\"></span>Il <span class=\"_ _28\"></span>decrement<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Euro <span class=\"_ _2c\"></span>109.450 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>\u00e8 relativo <span class=\"_ _2f\"> </span>all<span class=\"ff5d\">\u2019allo<span class=\"_ _0\"></span>cazione <span class=\"_ _2f\"> </span>dell\u2019avviamento <span class=\"_ _41\"> </span>alle <span class=\"_ _2f\"> </span>diverse <span class=\"_ _41\"> </span>attivit\u00e0 <span class=\"_ _2f\"> </span>e <span class=\"_ _41\"> </span>passi</span>vit\u00e0 <span class=\"_ _41\"> </span>di <span class=\"_ _2f\"> </span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>tenendo <span class=\"_ _41\"> </span>altres\u00ec <span class=\"_ _2f\"> </span>in considerazione <span class=\"_ _28\"></span>gli <span class=\"_ _28\"></span>effetti <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>PPA <span class=\"_ _28\"></span>effettu<span class=\"_ _0\"></span>ata <span class=\"_ _28\"></span>dal <span class=\"_ _28\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>capo <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipata <span class=\"_ _2c\"></span>Magnet <span class=\"_ _28\"></span>(Euro 11.174 <span class=\"_ _22\"></span>migliaia); <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>ulteriori <span class=\"_ _22\"></span>dettagli <span class=\"_ _22\"></span>sui <span class=\"_ _22\"></span>valo<span class=\"_ _0\"></span>ri <span class=\"_ _22\"></span>identicati <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>sede <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>PPA <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>rimanda <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>quanto <span class=\"_ _22\"></span>rappresentato nell<span class=\"ff5d\">\u2019informativa di seguito riportata.<span class=\"_ _0\"></span></span> Avviamento (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Cash Generating Unit Rame               342.540                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>342.540  Cash Generating Unit Profumi e Cosme<span class=\"_ _29\"></span>si                  27.776                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>27.776  Avviamento               370.316                                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>         370.316    La <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>ecedente <span class=\"_ _0\"></span>tabella <span class=\"_ _22\"></span>evide<span class=\"ff5d\">nzia <span class=\"_ _22\"></span>l\u2019allocazione <span class=\"_ _22\"></span>degli <span class=\"_ _22\"></span>avviamenti <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span><span class=\"ff5a\">Cash <span class=\"_ _22\"></span>Generating <span class=\"_ _22\"></span>Unit</span></span>, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>coerenza con il settore di operativit\u00e0 del Gruppo<span class=\"_ _0\"></span>; la vita utile dell'avviamento \u00e8 indefinita.<span class=\"_ _0\"></span> L<span class=\"ff5d\">\u2019avviamento <span class=\"_ _2d\"> </span>iscritto <span class=\"_ _2c\"> </span>al <span class=\"_ _2d\"> </span>31</span> <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2c\"></span>da <span class=\"_ _2d\"> </span>aggregazioni <span class=\"_ _2d\"> </span>aziendali <span class=\"_ _2c\"></span>e, <span class=\"_ _2d\"> </span>nello <span class=\"_ _2c\"> </span>specifico, <span class=\"_ _2d\"> </span>dal consolidamento <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>gruppo <span class=\"_ _22\"></span>KME, <span class=\"_ _22\"></span>attivo <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>settore <span class=\"_ _22\"></span>d<span class=\"_ _0\"></span>el <span class=\"_ _22\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>CULTI <span class=\"_ _0\"></span>Milano, <span class=\"_ _23\"></span>attivo <span class=\"_ _0\"></span>nel <span class=\"_ _22\"></span>settor<span class=\"_ _0\"></span>e dei profumi e della cosmesi. <span class=\"_ _0\"></span> Aggregazioni aziendali Contabil<span class=\"ff5d\">mente <span class=\"_ _0\"></span>(par. <span class=\"_ _0\"></span>B100 <span class=\"_ _0\"></span>dell\u2019IFRS <span class=\"_ _0\"></span>10)<span class=\"_ _0\"></span></span>, <span class=\"_ _0\"></span>infatti, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span><span class=\"ff5d\">\u201c</span>cambi<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>stato<span class=\"ff5d\">\u201d <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>e</span>ntit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>i<span class=\"ls1\">nv</span>estimento \u00e8 <span class=\"_ _0\"></span><span class=\"ls0\">stata <span class=\"_ _0\"></span>considerata <span class=\"_ _0\"></span>com<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione <span class=\"_ _22\"></span>presunta. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span></span>delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione </span>presunta <span class=\"_ _22\"></span>ha <span class=\"_ _0\"></span>rappresenta<span class=\"ls9\">to</span> <span class=\"_ _22\"></span><span class=\"ff5d\">il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _22\"></span>presunto <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>determinazione <span class=\"_ _22\"></span>dell\u2019avviamento. <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>cambio <span class=\"_ _22\"></span>di </span>stato <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>considerato <span class=\"_ _0\"></span><span class=\"ff5d\">infatti <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span>\u2019acquisizione, <span class=\"_ _0\"></span>cio<span class=\"_ _0\"></span>\u00e8</span> <span class=\"_ _0\"></span><span class=\"ff5d\">un<span class=\"_ _0\"></span>\u2019operazione <span class=\"_ _0\"></span>con <span class=\"_ _22\"></span>cui <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>attua <span class=\"_ _22\"></span>lo <span class=\"_ _0\"></span>scambio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni </span>aziendali <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>quello <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>consolidata) <span class=\"_ _23\"></span>contro <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>(<span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>della partecipazione); <span class=\"_ _23\"></span>ne <span class=\"_ _28\"></span>deriva <span class=\"_ _23\"></span>quin<span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>l\u2019applicazione <span class=\"_ _28\"></span>del<span class=\"ff56\"> <span class=\"_ _28\"></span></span>principio <span class=\"_ _23\"></span>contabile <span class=\"_ _28\"></span>IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _28\"></span>\u201cAggregazioni <span class=\"_ _23\"></span>aziendali\u201d <span class=\"_ _28\"></span>e l\u2019effettuazione del processo di \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Purchase Price Allocation<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d </span>(\u201cPPA\u201d) <span class=\"ff56\">come illustrato nel prosieguo.<span class=\"_ _0\"></span> </span>Nello <span class=\"_ _22\"></span>specifico, <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>quella <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>acquisizione <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esunta <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>30 <span class=\"_ _22\"></span>aprile <span class=\"_ _23\"></span>2022 come data di riferimento contabile pi\u00f9 prossima alla data d<span class=\"_ _0\"></span>i cambio di stato (22 aprile 2022)<span class=\"_ _0\"></span>. L'avviamento <span class=\"_ _28\"></span>iscritto, <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>producendo <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>modo <span class=\"_ _28\"></span>autonomo, <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>allocato <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>due <span class=\"_ _28\"></span>unit\u00e0 <span class=\"_ _28\"></span>di business generatrici di flussi finanziari (<span class=\"ff5a\">Cash Generating Unit<span class=\"ff5d\">, anche \u201c</span></span><span class=\"ls18\">CGU</span><span class=\"ff5d\">\u201d</span>) in cui viene suddivisa <span class=\"ff5d\">l\u2019attivit\u00e0 </span>dell\u2019aggregazione <span class=\"_ _0\"></span>aziendale: <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>profumi <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>della cosmesi.<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>L\u2019identificazione <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>CGU \u00e8 <span class=\"_ _28\"></span>stata <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>coerentemente <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>informazioni <span class=\"_ _2c\"></span>relative <span class=\"_ _28\"></span>ai<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>settori <span class=\"_ _2c\"></span>operativi <span class=\"_ _2c\"></span>della <span class=\"_ _28\"></span>Socie<span class=\"_ _22\"></span>t\u00e0, <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>sensi <span class=\"_ _28\"></span>de<span class=\"_ _0\"></span>l principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>internazionale <span class=\"_ _0\"></span>IFRS <span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>nonch\u00e9 <span class=\"_ _22\"></span>tenendo <span class=\"_ _0\"></span>conto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>liv<span class=\"_ _0\"></span>ello <span class=\"_ _0\"></span>inferiore <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>Societ\u00e0, <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>fini gestionali, monitora l\u2019andamento delle partecipate. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Pi\u00f9 <span class=\"_ _3b\"> </span>in <span class=\"_ _3b\"> </span>dettaglio, <span class=\"_ _3b\"> </span>l\u2019avviamento <span class=\"_ _3b\"> </span><span class=\"ff56\">in<span class=\"_ _0\"></span>izialmente <span class=\"_ _3b\"> </span>iscritto <span class=\"_ _3b\"> </span></span>nell\u2019<span class=\"_ _0\"></span>esercizio <span class=\"_ _3b\"> </span><span class=\"ff56\">accog<span class=\"ls9\">lie<span class=\"ls1\">va</span></span> <span class=\"_ _3b\"> </span><span class=\"ls9\">il <span class=\"_ _3b\"> </span></span>disavanz<span class=\"ls1\">o <span class=\"_ _3b\"> </span></span>da </span>consolidamento, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>365.260 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>tra <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _0\"></span>teorico <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>primo <span class=\"_ _22\"></span>consolidamento delle <span class=\"_ _0\"></span>partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>relativi <span class=\"_ _22\"></span>valori <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>patrimonio <span class=\"_ _0\"></span>netto <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>suddetta <span class=\"_ _0\"></span>data, tenuto conto delle interessenze di pertinenza della<span class=\"_ _0\"></span> Capogruppo.  Variazione area di consolida<span class=\"_ _29\"></span>mento (in migliaia di Euro) Aggregazione IFRS 3 Originario provvisoria Cash Generating Unit<span class=\"ff56\"> Rame  </span>             99.684   <span class=\"fc5 sc0\"> </span>             336.696  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Cash Generating Unit<span class=\"ff56\"> Profumi e Cosmesi <span class=\"_ _29\"></span> </span>                  3.398   <span class=\"fc5 sc0\"> </span>               28.564  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Avviamento ante PPA 103.082 365.260 Coerentemente <span class=\"_ _22\"></span>ai <span class=\"_ _23\"></span>requisiti <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>rmativi <span class=\"_ _23\"></span><span class=\"ff5d\">del <span class=\"_ _22\"></span>paragrafo <span class=\"_ _23\"></span>45 <span class=\"_ _22\"></span>dell\u2019IFRS <span class=\"_ _23\"></span>3, <span class=\"_ _23\"></span></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>procedu<span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>una <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tazione delle <span class=\"_ _2b\"></span>attivit\u00e0 nette <span class=\"_ _2b\"></span>acquisite <span class=\"_ _2b\"></span>e quindi <span class=\"_ _2b\"></span>alla <span class=\"_ _29\"></span><span class=\"ff5d\">contabilizzazione <span class=\"_ _29\"></span>iniziale <span class=\"_ _2b\"></span>entro il<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>\u201cperiodo di <span class=\"_ _2b\"></span>valutazione\u201d <span class=\"_ _2b\"></span>di ma<span class=\"_ _29\"></span>ssimi </span>12 mesi dalla data di acquisizione.<span class=\"_ _0\"></span> Tale di<span class=\"_ _0\"></span>savanzo <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>consolidamento, <span class=\"_ _0\"></span>alloc<span class=\"_ _0\"></span>ato <span class=\"_ _0\"></span>inizialmente <span class=\"_ _0\"></span><span class=\"ff5d\">interamente <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce \u201cAttivit\u00e0 <span class=\"_ _0\"></span>im<span class=\"_ _0\"></span>materiali\u201d</span> (Euro 365.260 migliaia), a fronte <span class=\"_ _29\"></span>di quanto emerso in sede <span class=\"_ _29\"></span>di PPA \u00e8 <span class=\"_ _29\"></span>stato parzialmente ri-allocato alle singole attivit\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span><span class=\"ff5d\">pass<span class=\"_ _0\"></span>ivit\u00e0 <span class=\"_ _29\"></span>iscritte <span class=\"_ _2b\"></span>in bilancio; <span class=\"_ _2b\"></span>l\u2019avviamento residuo <span class=\"_ _2b\"></span>dall\u2019aggregazione \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>ad <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>266.9<span class=\"_ _0\"></span><span class=\"ff56\">84 migliaia. </span></span>Come <span class=\"_ _29\"></span>indicato dai <span class=\"_ _2b\"></span>principi contabili, <span class=\"_ _29\"></span>infatti, <span class=\"_ _2b\"></span>l<span class=\"_ _0\"></span><span class=\"ff5d\">\u2019allocazione del <span class=\"_ _2b\"></span>valore <span class=\"ff56\">\u00e8 <span class=\"_ _2b\"></span>q<span class=\"_ _0\"></span>uindi variata <span class=\"_ _2b\"></span>in funzione <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair </span></span></span>value<span class=\"ff56\"> delle attivit\u00e0 e <span class=\"_ _0\"></span>passivit\u00e0 sui cui <span class=\"_ _0\"></span>\u00e8 stato allocato <span class=\"ff5d\">il <span class=\"_ _0\"></span>\u201cprezzo\u201d dell\u2019acquisizione nell\u2019ambito d<span class=\"_ _0\"></span>el processo di </span></span>Purchase Price Allocation<span class=\"ff56\"> da effettuare <span class=\"_ _0\"></span>ai sensi dell<span class=\"ff5d\">\u2019IFRS 3.<span class=\"_ _0\"></span></span> </span>L\u2019importo <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>tali <span class=\"_ _2e\"> </span>avviamenti, <span class=\"_ _2f\"> </span>inclusi <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>ell<span class=\"ff56\">i <span class=\"_ _2f\"> </span>originari <span class=\"_ _2e\"> </span>derivanti <span class=\"_ _2f\"> </span>dalle <span class=\"_ _2e\"> </span>due <span class=\"_ _2f\"> </span>CGU <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>incrementi<span class=\"_ _0\"></span> </span>dell\u2019esercizio ammontano ad Euro 370.316 migliaia.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Variazione area di Fondo Totale Incrementi consolidamento IFRS 10 Svalutazione 31/12/22 (in migliaia di Euro) Aggregazione  Originario IFRS 3 definitiva Cash Generating Unit Rame       99.684   <span class=\"fc5 sc0\"> </span>         242.856   <span class=\"fc5 sc0\"> </span>               -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>342.540    Cash Generating Unit Profumi e Cosmesi <span class=\"_ _29\"></span>         3.398   <span class=\"fc5 sc0\"> </span>          24.128               250   <span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>  <span class=\"ls0\">27.776    </span>Avviamento post PPA     <span class=\"ls0\">103.082   <span class=\"fc5 sc0\"> </span></span>        266.984               250   <span class=\"fc5 sc0\"> </span>                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>370.316    Purchase Price Allocation (PPA) Di seguito si rappresentano i plu<span class=\"_ _0\"></span>svalori/minusvalori identificati in<span class=\"_ _0\"></span> sede di PPA. CGU CGU Rame Profumi e Totale Cosmesi Originario 99.684 3.398 103.082 Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 provvis<span class=\"_ _29\"></span>oria (A) 336.696 28.564 365.260 Goodwill da analizzare in se<span class=\"_ _29\"></span>de PPA 436.380 31.962 468.342 Effetti PPA sulle voci di bil<span class=\"_ _29\"></span>ancio 29.530  9.031  38.561  Attivit\u00e0 immateriali 116.923   -<span class=\"lsd\">  </span> 116.923  Immobili, impianti e macchinari<span class=\"_ _0\"></span> (1.811)  -<span class=\"lsd\">  </span> (1.811) Investimenti immobiliari (11.184)  -<span class=\"lsd\">  </span> (11.184) Partecipazioni (4.627) (2.075) (6.702) Patrimonio netto di Terzi (42.427) (2.520) (44.947) Passivit\u00e0 per imposte differite 7.436   -<span class=\"lsd\">  </span> 7.436  Attivit\u00e0 non correnti detenute per la vendita<span class=\"_ _0\"></span> Valori allocati PPA (B)            93.840              4.436      <span class=\"ls0\">98.276   <span class=\"fc5 sc0\"> </span></span>Originario        <span class=\"lsb\">   </span>99.684           <span class=\"lsb\">   </span>3.398    10<span class=\"ls0\">3.082   <span class=\"fc5 sc0\"> </span></span>Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 definiti<span class=\"_ _29\"></span>va (A - <span class=\"ls63\">B)</span>          242.856            24.128    266.984   <span class=\"fc5 sc0\"> </span>Goodwill residuo post PP<span class=\"_ _29\"></span>A           342.540            27.526    370.066   <span class=\"fc5 sc0\"> </span>Impairment test del valore degli avviamenti <span class=\"_ _0\"></span>iscritti in bilancio al <span class=\"_ _0\"></span>31 dicembre <span class=\"ls1\">2022</span> L\u2019avviamento <span class=\"_ _2e\"> </span>acquisito <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>un\u2019agg<span class=\"_ _0\"></span>regazione <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _8b\"> </span>alloca<span class=\"_ _0\"></span>to <span class=\"_ _8b\"> </span>alle <span class=\"_ _2e\"> </span>unit\u00e0 <span class=\"_ _2e\"> </span>generatrici <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>flussi finanziari. <span class=\"_ _2b\"></span>L\u2019avviamento, iscritto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quanto <span class=\"_ _29\"></span>rappresentativo <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>capacit\u00e0 <span class=\"_ _2b\"></span>reddituali <span class=\"_ _2b\"></span>fu<span class=\"_ _0\"></span>ture <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>CGU, <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>indi delle <span class=\"_ _2a\"> </span>partecipate, <span class=\"_ _2a\"> </span>periodicamente <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>sotto<span class=\"_ _0\"></span>posto <span class=\"_\"> </span>test <span class=\"_ _2d\"> </span>di <span class=\"_\"> </span>verifica <span class=\"_ _2d\"> </span>del <span class=\"_\"> </span>valore, <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>livello <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>sing<span class=\"_ _0\"></span>ola <span class=\"_ _2a\"> </span>CGU, <span class=\"_ _2a\"> </span>per identificare <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>riduzioni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>identificarsi <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _0\"></span>della <span class=\"_ _23\"></span>differenza <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>iscrizione dell\u2019avviamento <span class=\"_ _2d\"> </span>ed <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>realizzo, <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"> </span>maggiore <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span><span class=\"ls1\">de</span></span></span>ll\u2019unit\u00e0 <span class=\"_ _2d\"> </span>generatrice <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>flussi finanziari, al netto degli eventuali costi di v<span class=\"_ _0\"></span>endita, e l\u2019eventuale relativo valore d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Vi <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>una <span class=\"_ _0\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>ogniqualvolta <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">carrying <span class=\"_ _22\"></span>amount</span>\u201d) <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un\u2019attivit\u00e0 <span class=\"_ _22\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _0\"></span>intesa </span>individualmente <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>CGU, <span class=\"_ _23\"></span>ovvero <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>\u201ccentro <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>ricavo\u201d <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>minori <span class=\"_ _22\"></span>dimensioni <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>possibile <span class=\"_ _23\"></span>imputare specifici flussi di cassa <span class=\"ff5d\">\u2013</span> <span class=\"ff5d\">\u00e8 maggio<span class=\"_ _0\"></span>re del \u201cvalore recuperabile\u201d della stessa (\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span>\u201d).</span> A tal fine, l\u2019avviamento deve essere allocato a s<span class=\"ff56\">ingole o a gruppi di unit\u00e0 generatrici di flussi fin<span class=\"_ _0\"></span>anziari </span>dell\u2019acquirente in <span class=\"_ _2b\"></span>modo che <span class=\"_ _2b\"></span>tali unit\u00e0 <span class=\"_ _29\"></span>beneficino <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>sinergie <span class=\"_ _29\"></span>dell\u2019aggregazione, indipendentemente <span class=\"_ _2b\"></span>dal fatto che altre attivit\u00e0 o passivit\u00e0 dell\u2019acquisito<span class=\"_ _0\"></span> siano assegnate a tali unit\u00e0 o gruppi <span class=\"_ _0\"></span><span class=\"ff56\">di unit\u00e0. </span>I <span class=\"_ _28\"></span>test <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _28\"></span>erano <span class=\"_ _28\"></span>stati <span class=\"_ _28\"></span>gi\u00e0 <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>30 <span class=\"_ _28\"></span>giugno <span class=\"_ _28\"></span>2022 <span class=\"_ _28\"></span>senza <span class=\"_ _28\"></span>dare <span class=\"_ _28\"></span>evidenza <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>problemi <span class=\"_ _28\"></span>di recuperabilit\u00e0. <span class=\"_ _2d\"> </span>Nonostante <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>siano <span class=\"_ _2c\"> </span>emersi <span class=\"_ _2d\"> </span>indicatori <span class=\"_ _2c\"></span>specifici <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span><span class=\"ff5a\">impairment</span> <span class=\"_ _2d\"> </span>sulle singole <span class=\"_ _28\"></span>CGU, <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>natura <span class=\"_ _28\"></span>interna <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _28\"></span>esterna, <span class=\"_ _28\"></span>tenendo <span class=\"_ _28\"></span>altres\u00ec <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>considerazione <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>prezzi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>borsa <span class=\"_ _28\"></span>della Capogruppo risultano <span class=\"_ _0\"></span>inferiori al <span class=\"_ _0\"></span>valore di <span class=\"_ _0\"></span>patrimonio netto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>azione, per ciascuna <span class=\"_ _0\"></span>CGU sono <span class=\"_ _0\"></span>stati <span class=\"_ _0\"></span>condotti sul <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019avviamento <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>31</span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _0\"></span>specifici <span class=\"_ _22\"></span><span class=\"ff5a\">test</span> <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a ls9\">im<span class=\"ls0\">pairment</span></span> <span class=\"_ _22\"></span><span class=\"ff5d\">anche <span class=\"_ _22\"></span>con <span class=\"_ _0\"></span>l\u2019ausilio <span class=\"_ _22\"></span>di </span>un consulente esterno. Le metodologie utilizzate per i <span class=\"_ _29\"></span>test di <span class=\"ff5a\">impairment</span> sono similari a quelle utilizzate dalla Capogruppo, <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>fini <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>relazione <span class=\"_ _2b\"></span>finanziaria annuale <span class=\"_ _2b\"></span>2021, <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>degli <span class=\"_ _29\"></span>investimenti <span class=\"_ _2b\"></span>partecipat<span class=\"_ _0\"></span>ivi valutati al <span class=\"ff5a\">fair value</span>, nonch\u00e9 delle valutazion<span class=\"_ _0\"></span>i effettuate in sede semestrale 2022.<span class=\"_ _0\"></span> I <span class=\"_ _23\"></span>suddetti <span class=\"_ _22\"></span>test <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stati <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>tenendo <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>evisioni <span class=\"_ _23\"></span>dello <span class=\"_ _23\"></span>IAS <span class=\"_ _22\"></span>36 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle raccomandazioni ESMA <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>Consob e <span class=\"_ _2b\"></span>quindi tenendo i<span class=\"_ _29\"></span>n considerazione tutti <span class=\"_ _2b\"></span>i potenziali effetti <span class=\"_ _2b\"></span>di natura esterna derivanti dagli effetti della pandemia e dal con<span class=\"_ _0\"></span>flitto Russia-<span class=\"ff5d\">Ucraina sull\u2019attivit\u00e0 del Grup<span class=\"_ _0\"></span>po.</span> Le <span class=\"_ _22\"></span>analisi <span class=\"_ _22\"></span>condotte <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>confermato <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>esposto <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circostanze <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>richiedano <span class=\"_ _22\"></span>la ripetizione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>test <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> sede<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>redazione <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Relazione <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>annuale. <span class=\"_ _0\"></span>Tu<span class=\"_ _0\"></span>ttavia, alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>della <span class=\"_ _28\"></span>continua <span class=\"_ _23\"></span>incertezza <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>contraddistingue <span class=\"_ _23\"></span>lo <span class=\"_ _28\"></span>scenario <span class=\"_ _23\"></span>macroeconomico <span class=\"_ _28\"></span>internazionale <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle forti tensioni sui <span class=\"_ _0\"></span>mercati fi<span class=\"_ _0\"></span>nanziari che <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span><span class=\"ff5d\">determinato <span class=\"_ _0\"></span>un\u2019oscillazione neg<span class=\"_ _0\"></span>ativa anche <span class=\"_ _0\"></span>della quotazion<span class=\"_ _0\"></span>e di </span>Borsa <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>Societ\u00e0 <span class=\"_ _29\"></span>(che <span class=\"_ _2b\"></span>evid<span class=\"_ _0\"></span>enziava <span class=\"_ _29\"></span>a <span class=\"_ _29\"></span>fine <span class=\"_ _29\"></span>giugno <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>permanere <span class=\"_ _2b\"></span>di una <span class=\"_ _2b\"></span>capitalizzazio<span class=\"_ _0\"></span>ne inferiore<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>patrimonio netto <span class=\"_ _2d\"> </span>contabile) <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>Gruppo, <span class=\"_ _2d\"> </span>accogliendo <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>indicazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>prudenza <span class=\"_ _2d\"> </span>evid<span class=\"_ _0\"></span>enziate <span class=\"_ _2d\"> </span>da<span class=\"_ _22\"></span>i <span class=\"_ _2d\"> </span>sopracitati <span class=\"_ _2a\"> </span>Organismi Regolamentari, <span class=\"_\"> </span>ha <span class=\"_\"> </span>comunque <span class=\"_\"> </span>effettuato <span class=\"_\"> </span>l\u2019<span class=\"ff5a\">impairment<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_\"> </span>test <span class=\"_\"> </span>delle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_\"> </span>immateriali <span class=\"_\"> </span>iscritte <span class=\"_\"> </span>nel <span class=\"_\"> </span>Bilancio </span></span>Consolidato e riferite alle due <span class=\"ff5a\">Cash Generat<span class=\"_ _0\"></span>ing Unit</span> identificate. In ossequio al principio contabile internazionale IAS 36, le proiezioni dei flussi finanziari utilizzate per la <span class=\"_ _2c\"></span>determinazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>valore <span class=\"_ _2d\"> </span>recuperabile <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>immaterial<span class=\"_ _0\"></span>i <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"> </span>vi<span class=\"_ _0\"></span>ta <span class=\"_ _2c\"></span>utile <span class=\"_ _2c\"></span>indefinita, <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2d\"> </span>particolare dell\u2019avviamento, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>state <span class=\"_ _22\"></span>riviste <span class=\"_ _22\"></span>basandosi <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>ultime <span class=\"_ _0\"></span>sti<span class=\"_ _0\"></span>me <span class=\"_ _22\"></span>disponibili <span class=\"_ _22\"></span>(indicate <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>Piani<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>Industriali <span class=\"_ _22\"></span>e/o </span>budget), op<span class=\"_ _0\"></span>portunamente riesamin<span class=\"_ _0\"></span>ate sulla <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>presupposti <span class=\"_ _0\"></span>ragionevoli <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>dimostrabili al <span class=\"_ _0\"></span>fine <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>riflettere i<span class=\"_ _0\"></span> risultati <span class=\"_ _2c\"></span>nel <span class=\"_ _2c\"></span>frattempo <span class=\"_ _2c\"></span>consuntivati <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>grado <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>rappresentare <span class=\"_ _2c\"></span>ad <span class=\"_ _2d\"> </span>oggi <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>migliore <span class=\"_ _2c\"> </span>stima <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>condizioni economiche future <span class=\"ff5d\">attese e svolgendo analisi <span class=\"_ _29\"></span>di sensitivit\u00e0 in <span class=\"_ _29\"></span>merito ai potenziali impatti derivanti dall\u2019attuale </span>contesto geopolitico e sanitario sulle assunzio<span class=\"_ _0\"></span>ni sottostanti le stime effettuate.<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">CGU Rame </span></span>Il test <span class=\"_ _29\"></span>di <span class=\"ff5a\">impairment</span> <span class=\"_ _2b\"></span>sulla CGU rame <span class=\"_ _29\"></span>(al 31 <span class=\"_ _29\"></span>dicembre 2022 <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re avviamento <span class=\"_ _29\"></span>pari <span class=\"_ _29\"></span>ad Euro <span class=\"_ _29\"></span>342,5 milioni) \u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>metodologia <span class=\"_ _23\"></span>dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _23\"></span>discounted <span class=\"_ _23\"></span>cash <span class=\"_ _22\"></span>flow<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>(UDCF) <span class=\"_ _22\"></span>attualizzando <span class=\"_ _23\"></span>i </span></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019effetto fiscale).<span class=\"_ _0\"></span></span> Il <span class=\"_ _2c\"></span>metodo <span class=\"_ _2c\"></span>UDCF <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _28\"></span>svilup<span class=\"_ _0\"></span>pato <span class=\"_ _2c\"></span>utilizzando <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>base <span class=\"_ _2c\"> </span>info<span class=\"_ _0\"></span>rmativa <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>proiezioni <span class=\"_ _2d\"> </span>economiche <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>le<span class=\"_ _0\"></span> variazioni <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>alcune <span class=\"_ _23\"></span>poste <span class=\"_ _23\"></span>patrimoniali <span class=\"_ _23\"></span>contenute <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Piano <span class=\"_ _22\"></span>Industriale <span class=\"_ _23\"></span>2023 <span class=\"_ _23\"></span>- <span class=\"_ _23\"></span><span class=\"ls1\">2027</span> <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>\u201cPiano\u201d </span>elaborato ed <span class=\"_ _2b\"></span>a<span class=\"_ _0\"></span>pprovato dagli <span class=\"_ _29\"></span>organi amministrativi <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>KME SE <span class=\"_ _2b\"></span>il 24 marzo <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>23) a <span class=\"_ _29\"></span>partire <span class=\"_ _29\"></span>dai flussi <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>primo semestre 2023 e tenendo conto<span class=\"_ _0\"></span> dei dati consuntivi al 31 dicembre 20<span class=\"_ _0\"></span>22. <span class=\"ls7\">Il </span>Piano approvato riflette la migliore stima <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali <span class=\"_ _23\"></span>sviluppi <span class=\"_ _28\"></span>macroeconomici <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>potrebbero <span class=\"_ _28\"></span>influenzare <span class=\"_ _23\"></span>l'attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>gruppo KME SE. Il <span class=\"ff5a ls0\">terminal <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">\u00e8 <span class=\"_ _29\"></span>stato calcolato <span class=\"_ _29\"></span>assumendo l\u2019EBITDA <span class=\"_ _29\"></span>di lungo <span class=\"_ _29\"></span>periodo pari <span class=\"_ _29\"></span>alla <span class=\"_ _29\"></span>media dell\u2019EBITDA <span class=\"_ _29\"></span>di </span></span></span>Piano <span class=\"_ _29\"></span>(periodo <span class=\"_ _29\"></span>esplicito, <span class=\"_ _29\"></span>1 <span class=\"_ _2b\"></span>gennaio 2023 <span class=\"_ _2b\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _29\"></span>2027), con <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>livello <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammortamento <span class=\"_ _2b\"></span>c<span class=\"_ _0\"></span>orrispondente </span></span>agli <span class=\"_ _29\"></span>investimenti, <span class=\"_ _29\"></span><span class=\"ff5d\">utilizzando <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>tasso di <span class=\"_ _2b\"></span>crescita <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>lungo <span class=\"_ _2b\"></span>periodo<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>\u201cg\u201d <span class=\"_ _2b\"></span>pari a <span class=\"_ _2b\"></span>zero <span class=\"_ _29\"></span>giungendo <span class=\"_ _29\"></span>ad <span class=\"_ _2b\"></span>un WACC <span class=\"_ _2b\"></span>pari </span>a <span class=\"_ _22\"></span>9,67% <span class=\"_ _23\"></span>(tasso <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>9,35% <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>valutazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span></span>effettuate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021)<span class=\"_ _0\"></span><span class=\"fs1\"> <span class=\"_ _23\"></span></span>tenendo <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei dati storici registrati. Conformemente <span class=\"_ _0\"></span>alle <span class=\"_ _22\"></span>indicazioni <span class=\"_ _0\"></span>metodologiche <span class=\"_ _22\"></span>fornite <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>IAS <span class=\"_ _0\"></span>36 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>altres\u00ec <span class=\"_ _0\"></span>effettuat<span class=\"_ _0\"></span>a un\u2019<span class=\"ff56 ls0\">analisi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>sensitivit\u00e0 <span class=\"_ _2b\"></span>al fine <span class=\"_ _2b\"></span>di comprendere <span class=\"_ _2b\"></span>come il <span class=\"_ _2b\"></span>valore recuperabile <span class=\"_ _2b\"></span>possa variare <span class=\"_ _2b\"></span>a seguito <span class=\"_ _2b\"></span>di variazioni </span>del <span class=\"_ _2d\"> </span>valore <span class=\"_ _2d\"> </span>dell\u2019EBITDA <span class=\"_ _2d\"> </span>(decremento<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>5% <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>10%) <span class=\"_ _2d\"> </span>sul <span class=\"_ _2d\"> </span><span class=\"ff5a\">te<span class=\"_ _0\"></span>rminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Peraltro, <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>fine <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>meglio </span>apprezzare la sensibilit\u00e0 <span class=\"_ _0\"></span>dei risultati dell\u2019<span class=\"_ _0\"></span><span class=\"ff5a\">impairment t<span class=\"_ _0\"></span><span class=\"ff56\">est rispetto alle <span class=\"_ _0\"></span>variazioni degli <span class=\"_ _0\"></span>assunti di base, <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>parit\u00e0 </span></span>di <span class=\"_ _2b\"></span>tasso <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>(<span class=\"_ _0\"></span>pari <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>zero), <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _2b\"></span>svolta, <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>fini <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span><span class=\"ff5d\">del valore <span class=\"_ _2b\"></span>d\u2019uso, <span class=\"_ _2b\"></span><span class=\"ff56\">anche <span class=\"_ _29\"></span><span class=\"ff5d\">un\u2019analisi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">sensitivit\u00e0<span class=\"ff5a\"> </span></span></span></span></span>rispetto <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>attualizzazione <span class=\"_ _2c\"></span>complessivo <span class=\"_ _2c\"></span>WACC <span class=\"_ _28\"></span>(<span class=\"ls9\">in<span class=\"_ _0\"></span></span>cremento <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>0,5% <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>1,0%) <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _2c\"></span>del calcolo <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">terminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Sia <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>peggio<span class=\"_ _0\"></span>ramento <span class=\"_ _2d\"> </span>congiunto <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>parametri <span class=\"_ _2d\"> </span>di EBITDA <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>WACC<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span><span class=\"ff5d ls9\">l\u2019</span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test</span> <span class=\"_ _22\"></span>effettuato <span class=\"_ _22\"></span><span class=\"ls1\">ha</span> <span class=\"_ _0\"></span>accertato <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sussistono <span class=\"_ _22\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span><span class=\"ls64\">CGU </span>Rame<span class=\"fs1\">.</span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a ls18\">CGU <span class=\"ls0\">Profumi e Cosmesi </span></span></span>Il test di <span class=\"ff5a\">impairment</span> sulla CGU Profumi e Co<span class=\"_ _0\"></span>smesi (al 31 dicembre 20<span class=\"_ _0\"></span>22 valore avviamento pari ad Euro 27,8 <span class=\"_ _0\"></span>milioni), <span class=\"_ _0\"></span>\u00e8 stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> sulla <span class=\"_ _0\"></span>base<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _0\"></span>discounted <span class=\"_ _0\"></span>cash <span class=\"_ _0\"></span>flow</span></span> <span class=\"_ _0\"></span>(UDCF) <span class=\"_ _0\"></span>attualizzando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019ef</span>fetto fiscale). <span class=\"_ _0\"></span> Il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>recuperabile <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>determinato <span class=\"_ _23\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5a\">Sum <span class=\"_ _22\"></span>of <span class=\"_ _22\"></span>Parts</span>, <span class=\"_ _22\"></span>considerando <span class=\"_ _23\"></span>i valori di CULTI Milano SpA e delle societ\u00e0 afferenti<span class=\"_ _0\"></span> al proprio<span class=\"_ _0\"></span> gruppo<span class=\"lsb\">. </span> Per <span class=\"_ _2d\"> </span>ogni <span class=\"_ _2d\"> </span>parte <span class=\"_ _2a\"> </span>(entit\u00e0), <span class=\"_ _2d\"> </span>i<span class=\"lsa\">l <span class=\"_ _2d\"> </span></span><span class=\"ff5a\">termina<span class=\"_ _0\"></span>l <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2d\"> </span>calcolato <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>relativo <span class=\"_ _2a\"> </span>EBITDA <span class=\"_ _2d\"> </span>storico <span class=\"_ _2d\"> </span>e considerando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>previsionali <span class=\"_ _0\"></span>(periodo <span class=\"_ _0\"></span>esplicito, <span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>gennaio <span class=\"_ _0\"></span>2023 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2025<span class=\"ls7\">),</span> <span class=\"_ _0\"></span>utilizzando <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>tasso<span class=\"_ _0\"></span> di <span class=\"_ _22\"></span>crescita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>lungo <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>\u201cg\u201d <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>zero<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>giungendo <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>WACC <span class=\"_ _23\"></span>specifico <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>ciascuna <span class=\"_ _23\"></span>parte <span class=\"_ _22\"></span>(entit\u00e0); </span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>contributo di <span class=\"_ _0\"></span>ciascun <span class=\"_ _0\"></span>Paese all\u2019EBITDA <span class=\"_ _0\"></span>Terminal <span class=\"_ _0\"></span>Value, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>tasso di <span class=\"_ _0\"></span>sconto medio <span class=\"_ _0\"></span>ponderato<span class=\"_ _0\"></span> applicato all\u2019impairment test della CGU <span class=\"_ _0\"></span><span class=\"ff56\">Profumi e Cosmesi si attesta attorno<span class=\"_ _0\"></span> al 10,89%. </span>Anche <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>CGU <span class=\"_ _0\"></span>Pro<span class=\"_ _0\"></span>fumi <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>Cosmesi, <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ciascuna <span class=\"_ _0\"></span>parte, <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _0\"></span>effettuata <span class=\"_ _0\"></span><span class=\"ff5d ls9\">l\u2019</span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>fine di <span class=\"_ _2e\"> </span>comprendere <span class=\"_ _2e\"> </span>la <span class=\"_ _2e\"> </span>variazione <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _2e\"> </span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span><span class=\"ff5d\">a <span class=\"_ _8b\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _8b\"> </span>dell\u2019EBITD<span class=\"_ _0\"></span>A </span>(decremento <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>5% <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>10%) <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">terminal <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>e<span class=\"lsb\">, <span class=\"_ _23\"></span></span>a <span class=\"_ _23\"></span>parit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>crescita <span class=\"_ _23\"></span>(pari <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>zero), <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di attualizzazione complessivo WACC<span class=\"_ _0\"></span> (<span class=\"ls9\">in</span>cremento di 0,5% e 1,0%).  Sia <span class=\"_\"> </span>nel <span class=\"_ _2e\"> </span>caso <span class=\"_ _8b\"> </span>base <span class=\"_ _8b\"> </span>che <span class=\"_ _2e\"> </span>nel <span class=\"_ _8b\"> </span>caso <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>peggioramento <span class=\"_ _8b\"> </span>congiunto<span class=\"_ _0\"></span> <span class=\"_\"> </span>dei <span class=\"_ _8b\"> </span>param<span class=\"_ _0\"></span>etri <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>EBITDA<span class=\"_ _0\"></span> <span class=\"_\"> </span>e <span class=\"_ _2e\"> </span>WACC, l\u2019<span class=\"ff5a ls0\">impairment test<span class=\"ff56\"> effettuato <span class=\"ls1\">ha</span> accertato che non<span class=\"_ _0\"></span> sussistono perd<span class=\"_ _0\"></span>ite di valo<span class=\"ls7\">re</span> sulla <span class=\"ls18\">CGU </span>Profumi e Cosmesi<span class=\"_ _0\"></span><span class=\"fs1\">.</span> </span></span>Inoltre, <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>arimenti <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>ai <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value</span> <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato redatto <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2021 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>semestrale <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span><span class=\"ff5a\">, <span class=\"_ _22\"></span>s</span>ono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>condotte analisi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>liq<span class=\"_ _0\"></span>uidit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span><span class=\"ff5a\">trend<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>borsa <span class=\"_ _22\"></span>(sui <span class=\"_ _22\"></span>volumi <span class=\"_ _22\"></span>scambiati, <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>termini <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>numero <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> controvalore <span class=\"_ _0\"></span>monetario <span class=\"_ _0\"></span>scambiato) <span class=\"_ _0\"></span>anche <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span><span class=\"ff5a\">comparables</span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>evidenziato <span class=\"_ _0\"></span>che nel <span class=\"_ _0\"></span>corso <span class=\"_ _22\"></span>dell\u2019ultimo <span class=\"_ _22\"></span>anno<span class=\"ff56\"> <span class=\"_ _0\"></span>(3 <span class=\"_ _22\"></span>gennaio <span class=\"_ _22\"></span>2022 <span class=\"_ _0\"></span></span>\u2013<span class=\"ff56\"> <span class=\"_ _22\"></span>31 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _0\"></span>2022<span class=\"_ _0\"></span>), <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>diversi <span class=\"_ _0\"></span>orizzonti <span class=\"_ _22\"></span>temporali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>1 <span class=\"_ _22\"></span>mese, <span class=\"_ _0\"></span>3 </span>mesi, <span class=\"_ _2c\"></span>6 <span class=\"_ _2c\"> </span>mesi <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>anno, <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>volumi <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>s<span class=\"_ _29\"></span>cambio <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"> </span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _2d\"> </span>CULTI <span class=\"_ _2c\"></span>Milano <span class=\"_ _2c\"> </span>sono <span class=\"_ _2c\"> </span>stati <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>linea <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"> </span>quelli <span class=\"_ _2d\"> </span>dei comparables<span class=\"ff56\"> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>ci\u00f2 <span class=\"_ _22\"></span>condurrebbe <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>ritenere <span class=\"_ _22\"></span>comun<span class=\"_ _0\"></span>que <span class=\"_ _22\"></span>significativo <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>quotazioni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa </span>al fine di determinare il valore corrente teorico <span class=\"_ _0\"></span>di CULTI Milano<span class=\"_ _0\"></span> utile ai fini del test di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span>. Anche <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>v<span class=\"_ _0\"></span>alorizzazione <span class=\"_ _22\"></span>risulterebbe <span class=\"_ _22\"></span>superiore <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>esame <span class=\"_ _22\"></span>(valore <span class=\"_ _22\"></span>unitario azione pari ad Euro 20,20). Risultanze del test sulle CGU identificate<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>esiti <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span><span class=\"ff5a\">impairment <span class=\"_ _0\"></span>test</span> <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>hanno <span class=\"_ _22\"></span>evidenziato <span class=\"_ _0\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>degli <span class=\"_ _0\"></span>avviamenti <span class=\"_ _22\"></span>iscritti, <span class=\"_ _0\"></span>sia <span class=\"_ _22\"></span>nello scenario di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>ipotizzati <span class=\"_ _0\"></span>dalle <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>effettua<span class=\"_ _0\"></span>te<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>(peggioramento <span class=\"_ _0\"></span>congiunto di EBITDA e WACC), con<span class=\"_ _0\"></span> un <span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span> delle CGU sempre superiore al v<span class=\"_ _0\"></span>alore di <span class=\"ff5a\">carrying amou<span class=\"_ _0\"></span>nt</span> evidenziato nel presente Bilancio Con<span class=\"_ _0\"></span>solidato.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__89": {
   "value": "Aggregazioni aziendali Contabil<span class=\"ff5d\">mente <span class=\"_ _0\"></span>(par. <span class=\"_ _0\"></span>B100 <span class=\"_ _0\"></span>dell\u2019IFRS <span class=\"_ _0\"></span>10)<span class=\"_ _0\"></span></span>, <span class=\"_ _0\"></span>infatti, <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span><span class=\"ff5d\">\u201c</span>cambi<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>stato<span class=\"ff5d\">\u201d <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>e</span>ntit\u00e0 <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>i<span class=\"ls1\">nv</span>estimento \u00e8 <span class=\"_ _0\"></span><span class=\"ls0\">stata <span class=\"_ _0\"></span>considerata <span class=\"_ _0\"></span>com<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione <span class=\"_ _22\"></span>presunta. <span class=\"_ _0\"></span>Il <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value <span class=\"_ _0\"></span></span>delle <span class=\"_ _0\"></span>controllate <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acquisizione </span>presunta <span class=\"_ _22\"></span>ha <span class=\"_ _0\"></span>rappresenta<span class=\"ls9\">to</span> <span class=\"_ _22\"></span><span class=\"ff5d\">il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _22\"></span>presunto <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>determinazione <span class=\"_ _22\"></span>dell\u2019avviamento. <span class=\"_ _22\"></span>Il <span class=\"_ _0\"></span>cambio <span class=\"_ _22\"></span>di </span>stato <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>considerato <span class=\"_ _0\"></span><span class=\"ff5d\">infatti <span class=\"_ _22\"></span>come <span class=\"_ _0\"></span>un<span class=\"_ _0\"></span>\u2019acquisizione, <span class=\"_ _0\"></span>cio<span class=\"_ _0\"></span>\u00e8</span> <span class=\"_ _0\"></span><span class=\"ff5d\">un<span class=\"_ _0\"></span>\u2019operazione <span class=\"_ _0\"></span>con <span class=\"_ _22\"></span>cui <span class=\"_ _0\"></span>si <span class=\"_ _22\"></span>attua <span class=\"_ _22\"></span>lo <span class=\"_ _0\"></span>scambio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>beni </span>aziendali <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>valore <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>quello <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>patrimonio <span class=\"_ _22\"></span>netto <span class=\"_ _23\"></span>della <span class=\"_ _22\"></span>consolidata) <span class=\"_ _23\"></span>contro <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _23\"></span>(<span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>della partecipazione); <span class=\"_ _23\"></span>ne <span class=\"_ _28\"></span>deriva <span class=\"_ _23\"></span>quin<span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>l\u2019applicazione <span class=\"_ _28\"></span>del<span class=\"ff56\"> <span class=\"_ _28\"></span></span>principio <span class=\"_ _23\"></span>contabile <span class=\"_ _28\"></span>IFRS <span class=\"_ _23\"></span>3 <span class=\"_ _28\"></span>\u201cAggregazioni <span class=\"_ _23\"></span>aziendali\u201d <span class=\"_ _28\"></span>e l\u2019effettuazione del processo di \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Purchase Price Allocation<span class=\"_ _0\"></span></span><span class=\"ls3\">\u201d </span>(\u201cPPA\u201d) <span class=\"ff56\">come illustrato nel prosieguo.<span class=\"_ _0\"></span> </span>Nello <span class=\"_ _22\"></span>specifico, <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>cambio <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>quella <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>acquisizione <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>esunta <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>30 <span class=\"_ _22\"></span>aprile <span class=\"_ _23\"></span>2022 come data di riferimento contabile pi\u00f9 prossima alla data d<span class=\"_ _0\"></span>i cambio di stato (22 aprile 2022)<span class=\"_ _0\"></span>. L'avviamento <span class=\"_ _28\"></span>iscritto, <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>producendo <span class=\"_ _28\"></span>flussi <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>cassa <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>modo <span class=\"_ _28\"></span>autonomo, <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>allocato <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>due <span class=\"_ _28\"></span>unit\u00e0 <span class=\"_ _28\"></span>di business generatrici di flussi finanziari (<span class=\"ff5a\">Cash Generating Unit<span class=\"ff5d\">, anche \u201c</span></span><span class=\"ls18\">CGU</span><span class=\"ff5d\">\u201d</span>) in cui viene suddivisa <span class=\"ff5d\">l\u2019attivit\u00e0 </span>dell\u2019aggregazione <span class=\"_ _0\"></span>aziendale: <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>rame <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>settore <span class=\"_ _0\"></span>dei <span class=\"_ _0\"></span>profumi <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>della cosmesi.<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>L\u2019identificazione <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>CGU \u00e8 <span class=\"_ _28\"></span>stata <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>coerentemente <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>informazioni <span class=\"_ _2c\"></span>relative <span class=\"_ _28\"></span>ai<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>settori <span class=\"_ _2c\"></span>operativi <span class=\"_ _2c\"></span>della <span class=\"_ _28\"></span>Socie<span class=\"_ _22\"></span>t\u00e0, <span class=\"_ _28\"></span>ai <span class=\"_ _2c\"></span>sensi <span class=\"_ _28\"></span>de<span class=\"_ _0\"></span>l principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>internazionale <span class=\"_ _0\"></span>IFRS <span class=\"_ _0\"></span>8,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>nonch\u00e9 <span class=\"_ _22\"></span>tenendo <span class=\"_ _0\"></span>conto <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>liv<span class=\"_ _0\"></span>ello <span class=\"_ _0\"></span>inferiore <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>Societ\u00e0, <span class=\"_ _0\"></span>ai <span class=\"_ _0\"></span>fini gestionali, monitora l\u2019andamento delle partecipate. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>Pi\u00f9 <span class=\"_ _3b\"> </span>in <span class=\"_ _3b\"> </span>dettaglio, <span class=\"_ _3b\"> </span>l\u2019avviamento <span class=\"_ _3b\"> </span><span class=\"ff56\">in<span class=\"_ _0\"></span>izialmente <span class=\"_ _3b\"> </span>iscritto <span class=\"_ _3b\"> </span></span>nell\u2019<span class=\"_ _0\"></span>esercizio <span class=\"_ _3b\"> </span><span class=\"ff56\">accog<span class=\"ls9\">lie<span class=\"ls1\">va</span></span> <span class=\"_ _3b\"> </span><span class=\"ls9\">il <span class=\"_ _3b\"> </span></span>disavanz<span class=\"ls1\">o <span class=\"_ _3b\"> </span></span>da </span>consolidamento, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>365.260 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>tra <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>corrispettivo <span class=\"_ _0\"></span>teorico <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>primo <span class=\"_ _22\"></span>consolidamento delle <span class=\"_ _0\"></span>partecip<span class=\"_ _0\"></span>azioni <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>relativi <span class=\"_ _22\"></span>valori <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>patrimonio <span class=\"_ _0\"></span>netto <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>suddetta <span class=\"_ _0\"></span>data, tenuto conto delle interessenze di pertinenza della<span class=\"_ _0\"></span> Capogruppo.  Variazione area di consolida<span class=\"_ _29\"></span>mento (in migliaia di Euro) Aggregazione IFRS 3 Originario provvisoria Cash Generating Unit<span class=\"ff56\"> Rame  </span>             99.684   <span class=\"fc5 sc0\"> </span>             336.696  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Cash Generating Unit<span class=\"ff56\"> Profumi e Cosmesi <span class=\"_ _29\"></span> </span>                  3.398   <span class=\"fc5 sc0\"> </span>               28.564  <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>Avviamento ante PPA 103.082 365.260 Coerentemente <span class=\"_ _22\"></span>ai <span class=\"_ _23\"></span>requisiti <span class=\"_ _22\"></span>no<span class=\"_ _0\"></span>rmativi <span class=\"_ _23\"></span><span class=\"ff5d\">del <span class=\"_ _22\"></span>paragrafo <span class=\"_ _23\"></span>45 <span class=\"_ _22\"></span>dell\u2019IFRS <span class=\"_ _23\"></span>3, <span class=\"_ _23\"></span></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>procedu<span class=\"_ _0\"></span>to <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>una <span class=\"_ _22\"></span>valu<span class=\"_ _0\"></span>tazione delle <span class=\"_ _2b\"></span>attivit\u00e0 nette <span class=\"_ _2b\"></span>acquisite <span class=\"_ _2b\"></span>e quindi <span class=\"_ _2b\"></span>alla <span class=\"_ _29\"></span><span class=\"ff5d\">contabilizzazione <span class=\"_ _29\"></span>iniziale <span class=\"_ _2b\"></span>entro il<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>\u201cperiodo di <span class=\"_ _2b\"></span>valutazione\u201d <span class=\"_ _2b\"></span>di ma<span class=\"_ _29\"></span>ssimi </span>12 mesi dalla data di acquisizione.<span class=\"_ _0\"></span> Tale di<span class=\"_ _0\"></span>savanzo <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>consolidamento, <span class=\"_ _0\"></span>alloc<span class=\"_ _0\"></span>ato <span class=\"_ _0\"></span>inizialmente <span class=\"_ _0\"></span><span class=\"ff5d\">interamente <span class=\"_ _0\"></span>nella <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce \u201cAttivit\u00e0 <span class=\"_ _0\"></span>im<span class=\"_ _0\"></span>materiali\u201d</span> (Euro 365.260 migliaia), a fronte <span class=\"_ _29\"></span>di quanto emerso in sede <span class=\"_ _29\"></span>di PPA \u00e8 <span class=\"_ _29\"></span>stato parzialmente ri-allocato alle singole attivit\u00e0 <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span><span class=\"ff5d\">pass<span class=\"_ _0\"></span>ivit\u00e0 <span class=\"_ _29\"></span>iscritte <span class=\"_ _2b\"></span>in bilancio; <span class=\"_ _2b\"></span>l\u2019avviamento residuo <span class=\"_ _2b\"></span>dall\u2019aggregazione \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>ad <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>266.9<span class=\"_ _0\"></span><span class=\"ff56\">84 migliaia. </span></span>Come <span class=\"_ _29\"></span>indicato dai <span class=\"_ _2b\"></span>principi contabili, <span class=\"_ _29\"></span>infatti, <span class=\"_ _2b\"></span>l<span class=\"_ _0\"></span><span class=\"ff5d\">\u2019allocazione del <span class=\"_ _2b\"></span>valore <span class=\"ff56\">\u00e8 <span class=\"_ _2b\"></span>q<span class=\"_ _0\"></span>uindi variata <span class=\"_ _2b\"></span>in funzione <span class=\"_ _2b\"></span>del <span class=\"ff5a\">fair </span></span></span>value<span class=\"ff56\"> delle attivit\u00e0 e <span class=\"_ _0\"></span>passivit\u00e0 sui cui <span class=\"_ _0\"></span>\u00e8 stato allocato <span class=\"ff5d\">il <span class=\"_ _0\"></span>\u201cprezzo\u201d dell\u2019acquisizione nell\u2019ambito d<span class=\"_ _0\"></span>el processo di </span></span>Purchase Price Allocation<span class=\"ff56\"> da effettuare <span class=\"_ _0\"></span>ai sensi dell<span class=\"ff5d\">\u2019IFRS 3.<span class=\"_ _0\"></span></span> </span>L\u2019importo <span class=\"_ _2e\"> </span>di <span class=\"_ _2f\"> </span>tali <span class=\"_ _2e\"> </span>avviamenti, <span class=\"_ _2f\"> </span>inclusi <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>ell<span class=\"ff56\">i <span class=\"_ _2f\"> </span>originari <span class=\"_ _2e\"> </span>derivanti <span class=\"_ _2f\"> </span>dalle <span class=\"_ _2e\"> </span>due <span class=\"_ _2f\"> </span>CGU <span class=\"_ _2e\"> </span>e <span class=\"_ _2e\"> </span>gl<span class=\"_ _0\"></span>i <span class=\"_ _2e\"> </span>incrementi<span class=\"_ _0\"></span> </span>dell\u2019esercizio ammontano ad Euro 370.316 migliaia.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Variazione area di Fondo Totale Incrementi consolidamento IFRS 10 Svalutazione 31/12/22 (in migliaia di Euro) Aggregazione  Originario IFRS 3 definitiva Cash Generating Unit Rame       99.684   <span class=\"fc5 sc0\"> </span>         242.856   <span class=\"fc5 sc0\"> </span>               -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>342.540    Cash Generating Unit Profumi e Cosmesi <span class=\"_ _29\"></span>         3.398   <span class=\"fc5 sc0\"> </span>          24.128               250   <span class=\"fc5 sc0\"> </span>                   -   <span class=\"fc5 sc0\">  </span><span class=\"fc5 sc0\"> </span>  <span class=\"ls0\">27.776    </span>Avviamento post PPA     <span class=\"ls0\">103.082   <span class=\"fc5 sc0\"> </span></span>        266.984               250   <span class=\"fc5 sc0\"> </span>                  -    <span class=\"fc5 sc0\"> </span><span class=\"fc5 sc0\"> </span>370.316    Purchase Price Allocation (PPA) Di seguito si rappresentano i plu<span class=\"_ _0\"></span>svalori/minusvalori identificati in<span class=\"_ _0\"></span> sede di PPA. CGU CGU Rame Profumi e Totale Cosmesi Originario 99.684 3.398 103.082 Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 provvis<span class=\"_ _29\"></span>oria (A) 336.696 28.564 365.260 Goodwill da analizzare in se<span class=\"_ _29\"></span>de PPA 436.380 31.962 468.342 Effetti PPA sulle voci di bil<span class=\"_ _29\"></span>ancio 29.530  9.031  38.561  Attivit\u00e0 immateriali 116.923   -<span class=\"lsd\">  </span> 116.923  Immobili, impianti e macchinari<span class=\"_ _0\"></span> (1.811)  -<span class=\"lsd\">  </span> (1.811) Investimenti immobiliari (11.184)  -<span class=\"lsd\">  </span> (11.184) Partecipazioni (4.627) (2.075) (6.702) Patrimonio netto di Terzi (42.427) (2.520) (44.947) Passivit\u00e0 per imposte differite 7.436   -<span class=\"lsd\">  </span> 7.436  Attivit\u00e0 non correnti detenute per la vendita<span class=\"_ _0\"></span> Valori allocati PPA (B)            93.840              4.436      <span class=\"ls0\">98.276   <span class=\"fc5 sc0\"> </span></span>Originario        <span class=\"lsb\">   </span>99.684           <span class=\"lsb\">   </span>3.398    10<span class=\"ls0\">3.082   <span class=\"fc5 sc0\"> </span></span>Variazione area di consolidamento IFRS 10 Aggregazione IFRS 3 definiti<span class=\"_ _29\"></span>va (A - <span class=\"ls63\">B)</span>          242.856            24.128    266.984   <span class=\"fc5 sc0\"> </span>Goodwill residuo post PP<span class=\"_ _29\"></span>A           342.540            27.526    370.066   <span class=\"fc5 sc0\"> </span>Impairment test del valore degli avviamenti <span class=\"_ _0\"></span>iscritti in bilancio al <span class=\"_ _0\"></span>31 dicembre <span class=\"ls1\">2022</span> L\u2019avviamento <span class=\"_ _2e\"> </span>acquisito <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>un\u2019agg<span class=\"_ _0\"></span>regazione <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _8b\"> </span>alloca<span class=\"_ _0\"></span>to <span class=\"_ _8b\"> </span>alle <span class=\"_ _2e\"> </span>unit\u00e0 <span class=\"_ _2e\"> </span>generatrici <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>flussi finanziari. <span class=\"_ _2b\"></span>L\u2019avviamento, iscritto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quanto <span class=\"_ _29\"></span>rappresentativo <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>capacit\u00e0 <span class=\"_ _2b\"></span>reddituali <span class=\"_ _2b\"></span>fu<span class=\"_ _0\"></span>ture <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>CGU, <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>indi delle <span class=\"_ _2a\"> </span>partecipate, <span class=\"_ _2a\"> </span>periodicamente <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>sotto<span class=\"_ _0\"></span>posto <span class=\"_\"> </span>test <span class=\"_ _2d\"> </span>di <span class=\"_\"> </span>verifica <span class=\"_ _2d\"> </span>del <span class=\"_\"> </span>valore, <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>livello <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>sing<span class=\"_ _0\"></span>ola <span class=\"_ _2a\"> </span>CGU, <span class=\"_ _2a\"> </span>per identificare <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>riduzioni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>identificarsi <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _0\"></span>della <span class=\"_ _23\"></span>differenza <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>iscrizione dell\u2019avviamento <span class=\"_ _2d\"> </span>ed <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>realizzo, <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"> </span>maggiore <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span><span class=\"ls1\">de</span></span></span>ll\u2019unit\u00e0 <span class=\"_ _2d\"> </span>generatrice <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>flussi finanziari, al netto degli eventuali costi di v<span class=\"_ _0\"></span>endita, e l\u2019eventuale relativo valore d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Vi <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>una <span class=\"_ _0\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>ogniqualvolta <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">carrying <span class=\"_ _22\"></span>amount</span>\u201d) <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un\u2019attivit\u00e0 <span class=\"_ _22\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _0\"></span>intesa </span>individualmente <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>CGU, <span class=\"_ _23\"></span>ovvero <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>\u201ccentro <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>ricavo\u201d <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>minori <span class=\"_ _22\"></span>dimensioni <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>possibile <span class=\"_ _23\"></span>imputare specifici flussi di cassa <span class=\"ff5d\">\u2013</span> <span class=\"ff5d\">\u00e8 maggio<span class=\"_ _0\"></span>re del \u201cvalore recuperabile\u201d della stessa (\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span>\u201d).</span> A tal fine, l\u2019avviamento deve essere allocato a s<span class=\"ff56\">ingole o a gruppi di unit\u00e0 generatrici di flussi fin<span class=\"_ _0\"></span>anziari </span>dell\u2019acquirente in <span class=\"_ _2b\"></span>modo che <span class=\"_ _2b\"></span>tali unit\u00e0 <span class=\"_ _29\"></span>beneficino <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>sinergie <span class=\"_ _29\"></span>dell\u2019aggregazione, indipendentemente <span class=\"_ _2b\"></span>dal fatto che altre attivit\u00e0 o passivit\u00e0 dell\u2019acquisito<span class=\"_ _0\"></span> siano assegnate a tali unit\u00e0 o gruppi <span class=\"_ _0\"></span><span class=\"ff56\">di unit\u00e0. </span>I <span class=\"_ _28\"></span>test <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _28\"></span>erano <span class=\"_ _28\"></span>stati <span class=\"_ _28\"></span>gi\u00e0 <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>30 <span class=\"_ _28\"></span>giugno <span class=\"_ _28\"></span>2022 <span class=\"_ _28\"></span>senza <span class=\"_ _28\"></span>dare <span class=\"_ _28\"></span>evidenza <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>problemi <span class=\"_ _28\"></span>di recuperabilit\u00e0. <span class=\"_ _2d\"> </span>Nonostante <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>siano <span class=\"_ _2c\"> </span>emersi <span class=\"_ _2d\"> </span>indicatori <span class=\"_ _2c\"></span>specifici <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span><span class=\"ff5a\">impairment</span> <span class=\"_ _2d\"> </span>sulle singole <span class=\"_ _28\"></span>CGU, <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>natura <span class=\"_ _28\"></span>interna <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _28\"></span>esterna, <span class=\"_ _28\"></span>tenendo <span class=\"_ _28\"></span>altres\u00ec <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>considerazione <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>prezzi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>borsa <span class=\"_ _28\"></span>della Capogruppo risultano <span class=\"_ _0\"></span>inferiori al <span class=\"_ _0\"></span>valore di <span class=\"_ _0\"></span>patrimonio netto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>azione, per ciascuna <span class=\"_ _0\"></span>CGU sono <span class=\"_ _0\"></span>stati <span class=\"_ _0\"></span>condotti sul <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019avviamento <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>31</span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _0\"></span>specifici <span class=\"_ _22\"></span><span class=\"ff5a\">test</span> <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a ls9\">im<span class=\"ls0\">pairment</span></span> <span class=\"_ _22\"></span><span class=\"ff5d\">anche <span class=\"_ _22\"></span>con <span class=\"_ _0\"></span>l\u2019ausilio <span class=\"_ _22\"></span>di </span>un consulente esterno. Le metodologie utilizzate per i <span class=\"_ _29\"></span>test di <span class=\"ff5a\">impairment</span> sono similari a quelle utilizzate dalla Capogruppo, <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>fini <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>relazione <span class=\"_ _2b\"></span>finanziaria annuale <span class=\"_ _2b\"></span>2021, <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>degli <span class=\"_ _29\"></span>investimenti <span class=\"_ _2b\"></span>partecipat<span class=\"_ _0\"></span>ivi valutati al <span class=\"ff5a\">fair value</span>, nonch\u00e9 delle valutazion<span class=\"_ _0\"></span>i effettuate in sede semestrale 2022.<span class=\"_ _0\"></span> I <span class=\"_ _23\"></span>suddetti <span class=\"_ _22\"></span>test <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stati <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>tenendo <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>evisioni <span class=\"_ _23\"></span>dello <span class=\"_ _23\"></span>IAS <span class=\"_ _22\"></span>36 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle raccomandazioni ESMA <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>Consob e <span class=\"_ _2b\"></span>quindi tenendo i<span class=\"_ _29\"></span>n considerazione tutti <span class=\"_ _2b\"></span>i potenziali effetti <span class=\"_ _2b\"></span>di natura esterna derivanti dagli effetti della pandemia e dal con<span class=\"_ _0\"></span>flitto Russia-<span class=\"ff5d\">Ucraina sull\u2019attivit\u00e0 del Grup<span class=\"_ _0\"></span>po.</span> Le <span class=\"_ _22\"></span>analisi <span class=\"_ _22\"></span>condotte <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>confermato <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>esposto <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circostanze <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>richiedano <span class=\"_ _22\"></span>la ripetizione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>test <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> sede<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>redazione <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Relazione <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>annuale. <span class=\"_ _0\"></span>Tu<span class=\"_ _0\"></span>ttavia, alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>della <span class=\"_ _28\"></span>continua <span class=\"_ _23\"></span>incertezza <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>contraddistingue <span class=\"_ _23\"></span>lo <span class=\"_ _28\"></span>scenario <span class=\"_ _23\"></span>macroeconomico <span class=\"_ _28\"></span>internazionale <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle forti tensioni sui <span class=\"_ _0\"></span>mercati fi<span class=\"_ _0\"></span>nanziari che <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span><span class=\"ff5d\">determinato <span class=\"_ _0\"></span>un\u2019oscillazione neg<span class=\"_ _0\"></span>ativa anche <span class=\"_ _0\"></span>della quotazion<span class=\"_ _0\"></span>e di </span>Borsa <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>Societ\u00e0 <span class=\"_ _29\"></span>(che <span class=\"_ _2b\"></span>evid<span class=\"_ _0\"></span>enziava <span class=\"_ _29\"></span>a <span class=\"_ _29\"></span>fine <span class=\"_ _29\"></span>giugno <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>permanere <span class=\"_ _2b\"></span>di una <span class=\"_ _2b\"></span>capitalizzazio<span class=\"_ _0\"></span>ne inferiore<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>patrimonio netto <span class=\"_ _2d\"> </span>contabile) <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>Gruppo, <span class=\"_ _2d\"> </span>accogliendo <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>indicazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>prudenza <span class=\"_ _2d\"> </span>evid<span class=\"_ _0\"></span>enziate <span class=\"_ _2d\"> </span>da<span class=\"_ _22\"></span>i <span class=\"_ _2d\"> </span>sopracitati <span class=\"_ _2a\"> </span>Organismi Regolamentari, <span class=\"_\"> </span>ha <span class=\"_\"> </span>comunque <span class=\"_\"> </span>effettuato <span class=\"_\"> </span>l\u2019<span class=\"ff5a\">impairment<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_\"> </span>test <span class=\"_\"> </span>delle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_\"> </span>immateriali <span class=\"_\"> </span>iscritte <span class=\"_\"> </span>nel <span class=\"_\"> </span>Bilancio </span></span>Consolidato e riferite alle due <span class=\"ff5a\">Cash Generat<span class=\"_ _0\"></span>ing Unit</span> identificate. In ossequio al principio contabile internazionale IAS 36, le proiezioni dei flussi finanziari utilizzate per la <span class=\"_ _2c\"></span>determinazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>valore <span class=\"_ _2d\"> </span>recuperabile <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>immaterial<span class=\"_ _0\"></span>i <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"> </span>vi<span class=\"_ _0\"></span>ta <span class=\"_ _2c\"></span>utile <span class=\"_ _2c\"></span>indefinita, <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2d\"> </span>particolare dell\u2019avviamento, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>state <span class=\"_ _22\"></span>riviste <span class=\"_ _22\"></span>basandosi <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>ultime <span class=\"_ _0\"></span>sti<span class=\"_ _0\"></span>me <span class=\"_ _22\"></span>disponibili <span class=\"_ _22\"></span>(indicate <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>Piani<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>Industriali <span class=\"_ _22\"></span>e/o </span>budget), op<span class=\"_ _0\"></span>portunamente riesamin<span class=\"_ _0\"></span>ate sulla <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>presupposti <span class=\"_ _0\"></span>ragionevoli <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>dimostrabili al <span class=\"_ _0\"></span>fine <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>riflettere i<span class=\"_ _0\"></span> risultati <span class=\"_ _2c\"></span>nel <span class=\"_ _2c\"></span>frattempo <span class=\"_ _2c\"></span>consuntivati <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>grado <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>rappresentare <span class=\"_ _2c\"></span>ad <span class=\"_ _2d\"> </span>oggi <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>migliore <span class=\"_ _2c\"> </span>stima <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>condizioni economiche future <span class=\"ff5d\">attese e svolgendo analisi <span class=\"_ _29\"></span>di sensitivit\u00e0 in <span class=\"_ _29\"></span>merito ai potenziali impatti derivanti dall\u2019attuale </span>contesto geopolitico e sanitario sulle assunzio<span class=\"_ _0\"></span>ni sottostanti le stime effettuate.<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">CGU Rame </span></span>Il test <span class=\"_ _29\"></span>di <span class=\"ff5a\">impairment</span> <span class=\"_ _2b\"></span>sulla CGU rame <span class=\"_ _29\"></span>(al 31 <span class=\"_ _29\"></span>dicembre 2022 <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re avviamento <span class=\"_ _29\"></span>pari <span class=\"_ _29\"></span>ad Euro <span class=\"_ _29\"></span>342,5 milioni) \u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>metodologia <span class=\"_ _23\"></span>dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _23\"></span>discounted <span class=\"_ _23\"></span>cash <span class=\"_ _22\"></span>flow<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>(UDCF) <span class=\"_ _22\"></span>attualizzando <span class=\"_ _23\"></span>i </span></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019effetto fiscale).<span class=\"_ _0\"></span></span> Il <span class=\"_ _2c\"></span>metodo <span class=\"_ _2c\"></span>UDCF <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _28\"></span>svilup<span class=\"_ _0\"></span>pato <span class=\"_ _2c\"></span>utilizzando <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>base <span class=\"_ _2c\"> </span>info<span class=\"_ _0\"></span>rmativa <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>proiezioni <span class=\"_ _2d\"> </span>economiche <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>le<span class=\"_ _0\"></span> variazioni <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>alcune <span class=\"_ _23\"></span>poste <span class=\"_ _23\"></span>patrimoniali <span class=\"_ _23\"></span>contenute <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Piano <span class=\"_ _22\"></span>Industriale <span class=\"_ _23\"></span>2023 <span class=\"_ _23\"></span>- <span class=\"_ _23\"></span><span class=\"ls1\">2027</span> <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>\u201cPiano\u201d </span>elaborato ed <span class=\"_ _2b\"></span>a<span class=\"_ _0\"></span>pprovato dagli <span class=\"_ _29\"></span>organi amministrativi <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>KME SE <span class=\"_ _2b\"></span>il 24 marzo <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>23) a <span class=\"_ _29\"></span>partire <span class=\"_ _29\"></span>dai flussi <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>primo semestre 2023 e tenendo conto<span class=\"_ _0\"></span> dei dati consuntivi al 31 dicembre 20<span class=\"_ _0\"></span>22. <span class=\"ls7\">Il </span>Piano approvato riflette la migliore stima <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali <span class=\"_ _23\"></span>sviluppi <span class=\"_ _28\"></span>macroeconomici <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>potrebbero <span class=\"_ _28\"></span>influenzare <span class=\"_ _23\"></span>l'attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>gruppo KME SE. Il <span class=\"ff5a ls0\">terminal <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">\u00e8 <span class=\"_ _29\"></span>stato calcolato <span class=\"_ _29\"></span>assumendo l\u2019EBITDA <span class=\"_ _29\"></span>di lungo <span class=\"_ _29\"></span>periodo pari <span class=\"_ _29\"></span>alla <span class=\"_ _29\"></span>media dell\u2019EBITDA <span class=\"_ _29\"></span>di </span></span></span>Piano <span class=\"_ _29\"></span>(periodo <span class=\"_ _29\"></span>esplicito, <span class=\"_ _29\"></span>1 <span class=\"_ _2b\"></span>gennaio 2023 <span class=\"_ _2b\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _29\"></span>2027), con <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>livello <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammortamento <span class=\"_ _2b\"></span>c<span class=\"_ _0\"></span>orrispondente </span></span>agli <span class=\"_ _29\"></span>investimenti, <span class=\"_ _29\"></span><span class=\"ff5d\">utilizzando <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>tasso di <span class=\"_ _2b\"></span>crescita <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>lungo <span class=\"_ _2b\"></span>periodo<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>\u201cg\u201d <span class=\"_ _2b\"></span>pari a <span class=\"_ _2b\"></span>zero <span class=\"_ _29\"></span>giungendo <span class=\"_ _29\"></span>ad <span class=\"_ _2b\"></span>un WACC <span class=\"_ _2b\"></span>pari </span>a <span class=\"_ _22\"></span>9,67% <span class=\"_ _23\"></span>(tasso <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>9,35% <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>valutazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span></span>effettuate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021)<span class=\"_ _0\"></span><span class=\"fs1\"> <span class=\"_ _23\"></span></span>tenendo <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei dati storici registrati. Conformemente <span class=\"_ _0\"></span>alle <span class=\"_ _22\"></span>indicazioni <span class=\"_ _0\"></span>metodologiche <span class=\"_ _22\"></span>fornite <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>IAS <span class=\"_ _0\"></span>36 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>altres\u00ec <span class=\"_ _0\"></span>effettuat<span class=\"_ _0\"></span>a un\u2019<span class=\"ff56 ls0\">analisi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>sensitivit\u00e0 <span class=\"_ _2b\"></span>al fine <span class=\"_ _2b\"></span>di comprendere <span class=\"_ _2b\"></span>come il <span class=\"_ _2b\"></span>valore recuperabile <span class=\"_ _2b\"></span>possa variare <span class=\"_ _2b\"></span>a seguito <span class=\"_ _2b\"></span>di variazioni </span>del <span class=\"_ _2d\"> </span>valore <span class=\"_ _2d\"> </span>dell\u2019EBITDA <span class=\"_ _2d\"> </span>(decremento<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>5% <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>10%) <span class=\"_ _2d\"> </span>sul <span class=\"_ _2d\"> </span><span class=\"ff5a\">te<span class=\"_ _0\"></span>rminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Peraltro, <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>fine <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>meglio </span>apprezzare la sensibilit\u00e0 <span class=\"_ _0\"></span>dei risultati dell\u2019<span class=\"_ _0\"></span><span class=\"ff5a\">impairment t<span class=\"_ _0\"></span><span class=\"ff56\">est rispetto alle <span class=\"_ _0\"></span>variazioni degli <span class=\"_ _0\"></span>assunti di base, <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>parit\u00e0 </span></span>di <span class=\"_ _2b\"></span>tasso <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>(<span class=\"_ _0\"></span>pari <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>zero), <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _2b\"></span>svolta, <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>fini <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span><span class=\"ff5d\">del valore <span class=\"_ _2b\"></span>d\u2019uso, <span class=\"_ _2b\"></span><span class=\"ff56\">anche <span class=\"_ _29\"></span><span class=\"ff5d\">un\u2019analisi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">sensitivit\u00e0<span class=\"ff5a\"> </span></span></span></span></span>rispetto <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>attualizzazione <span class=\"_ _2c\"></span>complessivo <span class=\"_ _2c\"></span>WACC <span class=\"_ _28\"></span>(<span class=\"ls9\">in<span class=\"_ _0\"></span></span>cremento <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>0,5% <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>1,0%) <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _2c\"></span>del calcolo <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">terminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Sia <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>peggio<span class=\"_ _0\"></span>ramento <span class=\"_ _2d\"> </span>congiunto <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>parametri <span class=\"_ _2d\"> </span>di EBITDA <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>WACC<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span><span class=\"ff5d ls9\">l\u2019</span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test</span> <span class=\"_ _22\"></span>effettuato <span class=\"_ _22\"></span><span class=\"ls1\">ha</span> <span class=\"_ _0\"></span>accertato <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sussistono <span class=\"_ _22\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span><span class=\"ls64\">CGU </span>Rame<span class=\"fs1\">.</span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a ls18\">CGU <span class=\"ls0\">Profumi e Cosmesi </span></span></span>Il test di <span class=\"ff5a\">impairment</span> sulla CGU Profumi e Co<span class=\"_ _0\"></span>smesi (al 31 dicembre 20<span class=\"_ _0\"></span>22 valore avviamento pari ad Euro 27,8 <span class=\"_ _0\"></span>milioni), <span class=\"_ _0\"></span>\u00e8 stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> sulla <span class=\"_ _0\"></span>base<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _0\"></span>discounted <span class=\"_ _0\"></span>cash <span class=\"_ _0\"></span>flow</span></span> <span class=\"_ _0\"></span>(UDCF) <span class=\"_ _0\"></span>attualizzando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019ef</span>fetto fiscale). <span class=\"_ _0\"></span> Il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>recuperabile <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>determinato <span class=\"_ _23\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5a\">Sum <span class=\"_ _22\"></span>of <span class=\"_ _22\"></span>Parts</span>, <span class=\"_ _22\"></span>considerando <span class=\"_ _23\"></span>i valori di CULTI Milano SpA e delle societ\u00e0 afferenti<span class=\"_ _0\"></span> al proprio<span class=\"_ _0\"></span> gruppo<span class=\"lsb\">. </span> Per <span class=\"_ _2d\"> </span>ogni <span class=\"_ _2d\"> </span>parte <span class=\"_ _2a\"> </span>(entit\u00e0), <span class=\"_ _2d\"> </span>i<span class=\"lsa\">l <span class=\"_ _2d\"> </span></span><span class=\"ff5a\">termina<span class=\"_ _0\"></span>l <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2d\"> </span>calcolato <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>relativo <span class=\"_ _2a\"> </span>EBITDA <span class=\"_ _2d\"> </span>storico <span class=\"_ _2d\"> </span>e considerando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>previsionali <span class=\"_ _0\"></span>(periodo <span class=\"_ _0\"></span>esplicito, <span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>gennaio <span class=\"_ _0\"></span>2023 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2025<span class=\"ls7\">),</span> <span class=\"_ _0\"></span>utilizzando <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>tasso<span class=\"_ _0\"></span> di <span class=\"_ _22\"></span>crescita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>lungo <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>\u201cg\u201d <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>zero<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>giungendo <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>WACC <span class=\"_ _23\"></span>specifico <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>ciascuna <span class=\"_ _23\"></span>parte <span class=\"_ _22\"></span>(entit\u00e0); </span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>contributo di <span class=\"_ _0\"></span>ciascun <span class=\"_ _0\"></span>Paese all\u2019EBITDA <span class=\"_ _0\"></span>Terminal <span class=\"_ _0\"></span>Value, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>tasso di <span class=\"_ _0\"></span>sconto medio <span class=\"_ _0\"></span>ponderato<span class=\"_ _0\"></span> applicato all\u2019impairment test della CGU <span class=\"_ _0\"></span><span class=\"ff56\">Profumi e Cosmesi si attesta attorno<span class=\"_ _0\"></span> al 10,89%. </span>Anche <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>CGU <span class=\"_ _0\"></span>Pro<span class=\"_ _0\"></span>fumi <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>Cosmesi, <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ciascuna <span class=\"_ _0\"></span>parte, <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _0\"></span>effettuata <span class=\"_ _0\"></span><span class=\"ff5d ls9\">l\u2019</span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>fine di <span class=\"_ _2e\"> </span>comprendere <span class=\"_ _2e\"> </span>la <span class=\"_ _2e\"> </span>variazione <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _2e\"> </span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span><span class=\"ff5d\">a <span class=\"_ _8b\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _8b\"> </span>dell\u2019EBITD<span class=\"_ _0\"></span>A </span>(decremento <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>5% <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>10%) <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">terminal <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>e<span class=\"lsb\">, <span class=\"_ _23\"></span></span>a <span class=\"_ _23\"></span>parit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>crescita <span class=\"_ _23\"></span>(pari <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>zero), <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di attualizzazione complessivo WACC<span class=\"_ _0\"></span> (<span class=\"ls9\">in</span>cremento di 0,5% e 1,0%).  Sia <span class=\"_\"> </span>nel <span class=\"_ _2e\"> </span>caso <span class=\"_ _8b\"> </span>base <span class=\"_ _8b\"> </span>che <span class=\"_ _2e\"> </span>nel <span class=\"_ _8b\"> </span>caso <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>peggioramento <span class=\"_ _8b\"> </span>congiunto<span class=\"_ _0\"></span> <span class=\"_\"> </span>dei <span class=\"_ _8b\"> </span>param<span class=\"_ _0\"></span>etri <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>EBITDA<span class=\"_ _0\"></span> <span class=\"_\"> </span>e <span class=\"_ _2e\"> </span>WACC, l\u2019<span class=\"ff5a ls0\">impairment test<span class=\"ff56\"> effettuato <span class=\"ls1\">ha</span> accertato che non<span class=\"_ _0\"></span> sussistono perd<span class=\"_ _0\"></span>ite di valo<span class=\"ls7\">re</span> sulla <span class=\"ls18\">CGU </span>Profumi e Cosmesi<span class=\"_ _0\"></span><span class=\"fs1\">.</span> </span></span>Inoltre, <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>arimenti <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>ai <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value</span> <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato redatto <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2021 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>semestrale <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span><span class=\"ff5a\">, <span class=\"_ _22\"></span>s</span>ono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>condotte analisi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>liq<span class=\"_ _0\"></span>uidit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span><span class=\"ff5a\">trend<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>borsa <span class=\"_ _22\"></span>(sui <span class=\"_ _22\"></span>volumi <span class=\"_ _22\"></span>scambiati, <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>termini <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>numero <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> controvalore <span class=\"_ _0\"></span>monetario <span class=\"_ _0\"></span>scambiato) <span class=\"_ _0\"></span>anche <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span><span class=\"ff5a\">comparables</span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>evidenziato <span class=\"_ _0\"></span>che nel <span class=\"_ _0\"></span>corso <span class=\"_ _22\"></span>dell\u2019ultimo <span class=\"_ _22\"></span>anno<span class=\"ff56\"> <span class=\"_ _0\"></span>(3 <span class=\"_ _22\"></span>gennaio <span class=\"_ _22\"></span>2022 <span class=\"_ _0\"></span></span>\u2013<span class=\"ff56\"> <span class=\"_ _22\"></span>31 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _0\"></span>2022<span class=\"_ _0\"></span>), <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>diversi <span class=\"_ _0\"></span>orizzonti <span class=\"_ _22\"></span>temporali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>1 <span class=\"_ _22\"></span>mese, <span class=\"_ _0\"></span>3 </span>mesi, <span class=\"_ _2c\"></span>6 <span class=\"_ _2c\"> </span>mesi <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>anno, <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>volumi <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>s<span class=\"_ _29\"></span>cambio <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"> </span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _2d\"> </span>CULTI <span class=\"_ _2c\"></span>Milano <span class=\"_ _2c\"> </span>sono <span class=\"_ _2c\"> </span>stati <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>linea <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"> </span>quelli <span class=\"_ _2d\"> </span>dei comparables<span class=\"ff56\"> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>ci\u00f2 <span class=\"_ _22\"></span>condurrebbe <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>ritenere <span class=\"_ _22\"></span>comun<span class=\"_ _0\"></span>que <span class=\"_ _22\"></span>significativo <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>quotazioni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa </span>al fine di determinare il valore corrente teorico <span class=\"_ _0\"></span>di CULTI Milano<span class=\"_ _0\"></span> utile ai fini del test di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span>. Anche <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>v<span class=\"_ _0\"></span>alorizzazione <span class=\"_ _22\"></span>risulterebbe <span class=\"_ _22\"></span>superiore <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>esame <span class=\"_ _22\"></span>(valore <span class=\"_ _22\"></span>unitario azione pari ad Euro 20,20). Risultanze del test sulle CGU identificate<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>esiti <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span><span class=\"ff5a\">impairment <span class=\"_ _0\"></span>test</span> <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>hanno <span class=\"_ _22\"></span>evidenziato <span class=\"_ _0\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>degli <span class=\"_ _0\"></span>avviamenti <span class=\"_ _22\"></span>iscritti, <span class=\"_ _0\"></span>sia <span class=\"_ _22\"></span>nello scenario di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>ipotizzati <span class=\"_ _0\"></span>dalle <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>effettua<span class=\"_ _0\"></span>te<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>(peggioramento <span class=\"_ _0\"></span>congiunto di EBITDA e WACC), con<span class=\"_ _0\"></span> un <span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span> delle CGU sempre superiore al v<span class=\"_ _0\"></span>alore di <span class=\"ff5a\">carrying amou<span class=\"_ _0\"></span>nt</span> evidenziato nel presente Bilancio Con<span class=\"_ _0\"></span>solidato.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__90": {
   "value": "Impairment test del valore degli avviamenti <span class=\"_ _0\"></span>iscritti in bilancio al <span class=\"_ _0\"></span>31 dicembre <span class=\"ls1\">2022</span> L\u2019avviamento <span class=\"_ _2e\"> </span>acquisito <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>un\u2019agg<span class=\"_ _0\"></span>regazione <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>imprese <span class=\"_ _2e\"> </span>\u00e8 <span class=\"_ _8b\"> </span>alloca<span class=\"_ _0\"></span>to <span class=\"_ _8b\"> </span>alle <span class=\"_ _2e\"> </span>unit\u00e0 <span class=\"_ _2e\"> </span>generatrici <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>flussi finanziari. <span class=\"_ _2b\"></span>L\u2019avviamento, iscritto <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>quanto <span class=\"_ _29\"></span>rappresentativo <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>capacit\u00e0 <span class=\"_ _2b\"></span>reddituali <span class=\"_ _2b\"></span>fu<span class=\"_ _0\"></span>ture <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>CGU, <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>indi delle <span class=\"_ _2a\"> </span>partecipate, <span class=\"_ _2a\"> </span>periodicamente <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>sotto<span class=\"_ _0\"></span>posto <span class=\"_\"> </span>test <span class=\"_ _2d\"> </span>di <span class=\"_\"> </span>verifica <span class=\"_ _2d\"> </span>del <span class=\"_\"> </span>valore, <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>livello <span class=\"_\"> </span>di <span class=\"_ _2d\"> </span>sing<span class=\"_ _0\"></span>ola <span class=\"_ _2a\"> </span>CGU, <span class=\"_ _2a\"> </span>per identificare <span class=\"_ _22\"></span>eventuali <span class=\"_ _22\"></span>riduzioni<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>identificarsi <span class=\"_ _22\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _0\"></span>della <span class=\"_ _23\"></span>differenza <span class=\"_ _0\"></span>tra <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>valore <span class=\"_ _0\"></span>di <span class=\"_ _23\"></span>iscrizione dell\u2019avviamento <span class=\"_ _2d\"> </span>ed <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>valore <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>realizzo, <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>al <span class=\"_ _2c\"> </span>maggiore <span class=\"_ _2d\"> </span>tra <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value<span class=\"ff56\"> <span class=\"_ _2c\"> </span><span class=\"ls1\">de</span></span></span>ll\u2019unit\u00e0 <span class=\"_ _2d\"> </span>generatrice <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>flussi finanziari, al netto degli eventuali costi di v<span class=\"_ _0\"></span>endita, e l\u2019eventuale relativo valore d\u2019uso.<span class=\"_ _0\"></span><span class=\"ff56\"> </span>Vi <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>una <span class=\"_ _0\"></span>perd<span class=\"_ _0\"></span>ita <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>ogniqualvolta <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>(\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">carrying <span class=\"_ _22\"></span>amount</span>\u201d) <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>un\u2019attivit\u00e0 <span class=\"_ _22\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _0\"></span>intesa </span>individualmente <span class=\"_ _23\"></span>o <span class=\"_ _22\"></span>come <span class=\"_ _23\"></span>CGU, <span class=\"_ _23\"></span>ovvero <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>\u201ccentro <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>ricavo\u201d <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>minori <span class=\"_ _22\"></span>dimensioni <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>cui <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>possibile <span class=\"_ _23\"></span>imputare specifici flussi di cassa <span class=\"ff5d\">\u2013</span> <span class=\"ff5d\">\u00e8 maggio<span class=\"_ _0\"></span>re del \u201cvalore recuperabile\u201d della stessa (\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span>\u201d).</span> A tal fine, l\u2019avviamento deve essere allocato a s<span class=\"ff56\">ingole o a gruppi di unit\u00e0 generatrici di flussi fin<span class=\"_ _0\"></span>anziari </span>dell\u2019acquirente in <span class=\"_ _2b\"></span>modo che <span class=\"_ _2b\"></span>tali unit\u00e0 <span class=\"_ _29\"></span>beneficino <span class=\"_ _29\"></span>delle <span class=\"_ _29\"></span>sinergie <span class=\"_ _29\"></span>dell\u2019aggregazione, indipendentemente <span class=\"_ _2b\"></span>dal fatto che altre attivit\u00e0 o passivit\u00e0 dell\u2019acquisito<span class=\"_ _0\"></span> siano assegnate a tali unit\u00e0 o gruppi <span class=\"_ _0\"></span><span class=\"ff56\">di unit\u00e0. </span>I <span class=\"_ _28\"></span>test <span class=\"_ _23\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _28\"></span>erano <span class=\"_ _28\"></span>stati <span class=\"_ _28\"></span>gi\u00e0 <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>30 <span class=\"_ _28\"></span>giugno <span class=\"_ _28\"></span>2022 <span class=\"_ _28\"></span>senza <span class=\"_ _28\"></span>dare <span class=\"_ _28\"></span>evidenza <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>problemi <span class=\"_ _28\"></span>di recuperabilit\u00e0. <span class=\"_ _2d\"> </span>Nonostante <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2c\"></span>2022 <span class=\"_ _2d\"> </span>non <span class=\"_ _2c\"></span>siano <span class=\"_ _2c\"> </span>emersi <span class=\"_ _2d\"> </span>indicatori <span class=\"_ _2c\"></span>specifici <span class=\"_ _2c\"></span>di <span class=\"_ _2d\"> </span><span class=\"ff5a\">impairment</span> <span class=\"_ _2d\"> </span>sulle singole <span class=\"_ _28\"></span>CGU, <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>natura <span class=\"_ _28\"></span>interna <span class=\"_ _28\"></span>n\u00e9 <span class=\"_ _28\"></span>esterna, <span class=\"_ _28\"></span>tenendo <span class=\"_ _28\"></span>altres\u00ec <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>considerazione <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>prezzi <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>borsa <span class=\"_ _28\"></span>della Capogruppo risultano <span class=\"_ _0\"></span>inferiori al <span class=\"_ _0\"></span>valore di <span class=\"_ _0\"></span>patrimonio netto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>azione, per ciascuna <span class=\"_ _0\"></span>CGU sono <span class=\"_ _0\"></span>stati <span class=\"_ _0\"></span>condotti sul <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019avviamento <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>31</span> <span class=\"_ _22\"></span>dicembre <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _0\"></span>specifici <span class=\"_ _22\"></span><span class=\"ff5a\">test</span> <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a ls9\">im<span class=\"ls0\">pairment</span></span> <span class=\"_ _22\"></span><span class=\"ff5d\">anche <span class=\"_ _22\"></span>con <span class=\"_ _0\"></span>l\u2019ausilio <span class=\"_ _22\"></span>di </span>un consulente esterno. Le metodologie utilizzate per i <span class=\"_ _29\"></span>test di <span class=\"ff5a\">impairment</span> sono similari a quelle utilizzate dalla Capogruppo, <span class=\"_ _2b\"></span>ai <span class=\"_ _29\"></span>fini <span class=\"_ _2b\"></span>della <span class=\"_ _29\"></span>relazione <span class=\"_ _2b\"></span>finanziaria annuale <span class=\"_ _2b\"></span>2021, <span class=\"_ _29\"></span>per <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>degli <span class=\"_ _29\"></span>investimenti <span class=\"_ _2b\"></span>partecipat<span class=\"_ _0\"></span>ivi valutati al <span class=\"ff5a\">fair value</span>, nonch\u00e9 delle valutazion<span class=\"_ _0\"></span>i effettuate in sede semestrale 2022.<span class=\"_ _0\"></span> I <span class=\"_ _23\"></span>suddetti <span class=\"_ _22\"></span>test <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stati <span class=\"_ _23\"></span>altres\u00ec <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>tenendo <span class=\"_ _23\"></span>delle <span class=\"_ _22\"></span>pr<span class=\"_ _0\"></span>evisioni <span class=\"_ _23\"></span>dello <span class=\"_ _23\"></span>IAS <span class=\"_ _22\"></span>36 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle raccomandazioni ESMA <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>Consob e <span class=\"_ _2b\"></span>quindi tenendo i<span class=\"_ _29\"></span>n considerazione tutti <span class=\"_ _2b\"></span>i potenziali effetti <span class=\"_ _2b\"></span>di natura esterna derivanti dagli effetti della pandemia e dal con<span class=\"_ _0\"></span>flitto Russia-<span class=\"ff5d\">Ucraina sull\u2019attivit\u00e0 del Grup<span class=\"_ _0\"></span>po.</span> Le <span class=\"_ _22\"></span>analisi <span class=\"_ _22\"></span>condotte <span class=\"_ _22\"></span>hanno <span class=\"_ _22\"></span>confermato <span class=\"_ _22\"></span>come <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>Gruppo <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>esposto <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>circostanze <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>richiedano <span class=\"_ _22\"></span>la ripetizione <span class=\"_ _0\"></span>del <span class=\"_ _0\"></span>test <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span> <span class=\"_ _0\"></span>in<span class=\"_ _0\"></span> sede<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>redazione <span class=\"_ _0\"></span>della <span class=\"_ _0\"></span>presente <span class=\"_ _0\"></span>Relazione <span class=\"_ _0\"></span>finanziaria <span class=\"_ _22\"></span>annuale. <span class=\"_ _0\"></span>Tu<span class=\"_ _0\"></span>ttavia, alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>della <span class=\"_ _28\"></span>continua <span class=\"_ _23\"></span>incertezza <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>contraddistingue <span class=\"_ _23\"></span>lo <span class=\"_ _28\"></span>scenario <span class=\"_ _23\"></span>macroeconomico <span class=\"_ _28\"></span>internazionale <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle forti tensioni sui <span class=\"_ _0\"></span>mercati fi<span class=\"_ _0\"></span>nanziari che <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span><span class=\"ff5d\">determinato <span class=\"_ _0\"></span>un\u2019oscillazione neg<span class=\"_ _0\"></span>ativa anche <span class=\"_ _0\"></span>della quotazion<span class=\"_ _0\"></span>e di </span>Borsa <span class=\"_ _29\"></span>della <span class=\"_ _29\"></span>Societ\u00e0 <span class=\"_ _29\"></span>(che <span class=\"_ _2b\"></span>evid<span class=\"_ _0\"></span>enziava <span class=\"_ _29\"></span>a <span class=\"_ _29\"></span>fine <span class=\"_ _29\"></span>giugno <span class=\"_ _29\"></span>il <span class=\"_ _29\"></span>permanere <span class=\"_ _2b\"></span>di una <span class=\"_ _2b\"></span>capitalizzazio<span class=\"_ _0\"></span>ne inferiore<span class=\"_ _29\"></span> <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>patrimonio netto <span class=\"_ _2d\"> </span>contabile) <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>Gruppo, <span class=\"_ _2d\"> </span>accogliendo <span class=\"_ _2d\"> </span>le <span class=\"_ _2a\"> </span>indicazioni <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>prudenza <span class=\"_ _2d\"> </span>evid<span class=\"_ _0\"></span>enziate <span class=\"_ _2d\"> </span>da<span class=\"_ _22\"></span>i <span class=\"_ _2d\"> </span>sopracitati <span class=\"_ _2a\"> </span>Organismi Regolamentari, <span class=\"_\"> </span>ha <span class=\"_\"> </span>comunque <span class=\"_\"> </span>effettuato <span class=\"_\"> </span>l\u2019<span class=\"ff5a\">impairment<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_\"> </span>test <span class=\"_\"> </span>delle <span class=\"_\"> </span>attivit\u00e0 <span class=\"_\"> </span>immateriali <span class=\"_\"> </span>iscritte <span class=\"_\"> </span>nel <span class=\"_\"> </span>Bilancio </span></span>Consolidato e riferite alle due <span class=\"ff5a\">Cash Generat<span class=\"_ _0\"></span>ing Unit</span> identificate. In ossequio al principio contabile internazionale IAS 36, le proiezioni dei flussi finanziari utilizzate per la <span class=\"_ _2c\"></span>determinazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>valore <span class=\"_ _2d\"> </span>recuperabile <span class=\"_ _2c\"></span>delle <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"> </span>immaterial<span class=\"_ _0\"></span>i <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"> </span>vi<span class=\"_ _0\"></span>ta <span class=\"_ _2c\"></span>utile <span class=\"_ _2c\"></span>indefinita, <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2d\"> </span>particolare dell\u2019avviamento, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>state <span class=\"_ _22\"></span>riviste <span class=\"_ _22\"></span>basandosi <span class=\"_ _22\"></span>sull<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>ultime <span class=\"_ _0\"></span>sti<span class=\"_ _0\"></span>me <span class=\"_ _22\"></span>disponibili <span class=\"_ _22\"></span>(indicate <span class=\"_ _22\"></span>nei <span class=\"_ _22\"></span>Piani<span class=\"_ _22\"></span><span class=\"ff56\"> <span class=\"_ _22\"></span>Industriali <span class=\"_ _22\"></span>e/o </span>budget), op<span class=\"_ _0\"></span>portunamente riesamin<span class=\"_ _0\"></span>ate sulla <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>presupposti <span class=\"_ _0\"></span>ragionevoli <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>dimostrabili al <span class=\"_ _0\"></span>fine <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>riflettere i<span class=\"_ _0\"></span> risultati <span class=\"_ _2c\"></span>nel <span class=\"_ _2c\"></span>frattempo <span class=\"_ _2c\"></span>consuntivati <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>in <span class=\"_ _2c\"></span>grado <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"> </span>rappresentare <span class=\"_ _2c\"></span>ad <span class=\"_ _2d\"> </span>oggi <span class=\"_ _28\"></span>la <span class=\"_ _2c\"></span>migliore <span class=\"_ _2c\"> </span>stima <span class=\"_ _2c\"> </span>delle <span class=\"_ _2d\"> </span>condizioni economiche future <span class=\"ff5d\">attese e svolgendo analisi <span class=\"_ _29\"></span>di sensitivit\u00e0 in <span class=\"_ _29\"></span>merito ai potenziali impatti derivanti dall\u2019attuale </span>contesto geopolitico e sanitario sulle assunzio<span class=\"_ _0\"></span>ni sottostanti le stime effettuate.<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">CGU Rame </span></span>Il test <span class=\"_ _29\"></span>di <span class=\"ff5a\">impairment</span> <span class=\"_ _2b\"></span>sulla CGU rame <span class=\"_ _29\"></span>(al 31 <span class=\"_ _29\"></span>dicembre 2022 <span class=\"_ _2b\"></span>valo<span class=\"_ _0\"></span>re avviamento <span class=\"_ _29\"></span>pari <span class=\"_ _29\"></span>ad Euro <span class=\"_ _29\"></span>342,5 milioni) \u00e8 <span class=\"_ _23\"></span>stato <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>metodologia <span class=\"_ _23\"></span>dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _23\"></span>discounted <span class=\"_ _23\"></span>cash <span class=\"_ _22\"></span>flow<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>(UDCF) <span class=\"_ _22\"></span>attualizzando <span class=\"_ _23\"></span>i </span></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019effetto fiscale).<span class=\"_ _0\"></span></span> Il <span class=\"_ _2c\"></span>metodo <span class=\"_ _2c\"></span>UDCF <span class=\"_ _2c\"></span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _28\"></span>svilup<span class=\"_ _0\"></span>pato <span class=\"_ _2c\"></span>utilizzando <span class=\"_ _2c\"></span>come <span class=\"_ _2c\"></span>base <span class=\"_ _2c\"> </span>info<span class=\"_ _0\"></span>rmativa <span class=\"_ _2c\"></span>le <span class=\"_ _2c\"></span>proiezioni <span class=\"_ _2d\"> </span>economiche <span class=\"_ _28\"></span>e <span class=\"_ _2c\"></span>le<span class=\"_ _0\"></span> variazioni <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>alcune <span class=\"_ _23\"></span>poste <span class=\"_ _23\"></span>patrimoniali <span class=\"_ _23\"></span>contenute <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>Piano <span class=\"_ _22\"></span>Industriale <span class=\"_ _23\"></span>2023 <span class=\"_ _23\"></span>- <span class=\"_ _23\"></span><span class=\"ls1\">2027</span> <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _22\"></span>(il <span class=\"_ _23\"></span>\u201cPiano\u201d </span>elaborato ed <span class=\"_ _2b\"></span>a<span class=\"_ _0\"></span>pprovato dagli <span class=\"_ _29\"></span>organi amministrativi <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>KME SE <span class=\"_ _2b\"></span>il 24 marzo <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>23) a <span class=\"_ _29\"></span>partire <span class=\"_ _29\"></span>dai flussi <span class=\"_ _29\"></span>del <span class=\"_ _29\"></span>primo semestre 2023 e tenendo conto<span class=\"_ _0\"></span> dei dati consuntivi al 31 dicembre 20<span class=\"_ _0\"></span>22. <span class=\"ls7\">Il </span>Piano approvato riflette la migliore stima <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>principali <span class=\"_ _23\"></span>sviluppi <span class=\"_ _28\"></span>macroeconomici <span class=\"_ _23\"></span>ed <span class=\"_ _23\"></span>economici <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>potrebbero <span class=\"_ _28\"></span>influenzare <span class=\"_ _23\"></span>l'attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _23\"></span>gruppo KME SE. Il <span class=\"ff5a ls0\">terminal <span class=\"_ _29\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">\u00e8 <span class=\"_ _29\"></span>stato calcolato <span class=\"_ _29\"></span>assumendo l\u2019EBITDA <span class=\"_ _29\"></span>di lungo <span class=\"_ _29\"></span>periodo pari <span class=\"_ _29\"></span>alla <span class=\"_ _29\"></span>media dell\u2019EBITDA <span class=\"_ _29\"></span>di </span></span></span>Piano <span class=\"_ _29\"></span>(periodo <span class=\"_ _29\"></span>esplicito, <span class=\"_ _29\"></span>1 <span class=\"_ _2b\"></span>gennaio 2023 <span class=\"_ _2b\"></span><span class=\"ff5d\">\u2013<span class=\"ff56\"> 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _29\"></span>2027), con <span class=\"_ _2b\"></span>un <span class=\"_ _29\"></span>livello <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>ammortamento <span class=\"_ _2b\"></span>c<span class=\"_ _0\"></span>orrispondente </span></span>agli <span class=\"_ _29\"></span>investimenti, <span class=\"_ _29\"></span><span class=\"ff5d\">utilizzando <span class=\"_ _29\"></span>un <span class=\"_ _2b\"></span>tasso di <span class=\"_ _2b\"></span>crescita <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>lungo <span class=\"_ _2b\"></span>periodo<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>\u201cg\u201d <span class=\"_ _2b\"></span>pari a <span class=\"_ _2b\"></span>zero <span class=\"_ _29\"></span>giungendo <span class=\"_ _29\"></span>ad <span class=\"_ _2b\"></span>un WACC <span class=\"_ _2b\"></span>pari </span>a <span class=\"_ _22\"></span>9,67% <span class=\"_ _23\"></span>(tasso <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>9,35% <span class=\"_ _22\"></span>nelle <span class=\"_ _23\"></span>valutazioni <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span></span>effettuate <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021)<span class=\"_ _0\"></span><span class=\"fs1\"> <span class=\"_ _23\"></span></span>tenendo <span class=\"_ _22\"></span>conto <span class=\"_ _22\"></span>dei dati storici registrati. Conformemente <span class=\"_ _0\"></span>alle <span class=\"_ _22\"></span>indicazioni <span class=\"_ _0\"></span>metodologiche <span class=\"_ _22\"></span>fornite <span class=\"_ _0\"></span>dal <span class=\"_ _22\"></span>principio <span class=\"_ _0\"></span>contabile <span class=\"_ _22\"></span>IAS <span class=\"_ _0\"></span>36 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>altres\u00ec <span class=\"_ _0\"></span>effettuat<span class=\"_ _0\"></span>a un\u2019<span class=\"ff56 ls0\">analisi <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _29\"></span>sensitivit\u00e0 <span class=\"_ _2b\"></span>al fine <span class=\"_ _2b\"></span>di comprendere <span class=\"_ _2b\"></span>come il <span class=\"_ _2b\"></span>valore recuperabile <span class=\"_ _2b\"></span>possa variare <span class=\"_ _2b\"></span>a seguito <span class=\"_ _2b\"></span>di variazioni </span>del <span class=\"_ _2d\"> </span>valore <span class=\"_ _2d\"> </span>dell\u2019EBITDA <span class=\"_ _2d\"> </span>(decremento<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>5% <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>10%) <span class=\"_ _2d\"> </span>sul <span class=\"_ _2d\"> </span><span class=\"ff5a\">te<span class=\"_ _0\"></span>rminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Peraltro, <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>fine <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>meglio </span>apprezzare la sensibilit\u00e0 <span class=\"_ _0\"></span>dei risultati dell\u2019<span class=\"_ _0\"></span><span class=\"ff5a\">impairment t<span class=\"_ _0\"></span><span class=\"ff56\">est rispetto alle <span class=\"_ _0\"></span>variazioni degli <span class=\"_ _0\"></span>assunti di base, <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>parit\u00e0 </span></span>di <span class=\"_ _2b\"></span>tasso <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>crescita <span class=\"_ _2b\"></span>(<span class=\"_ _0\"></span>pari <span class=\"_ _2b\"></span>a <span class=\"_ _29\"></span>zero), <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _29\"></span>stata <span class=\"_ _2b\"></span>svolta, <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>fini <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span><span class=\"ff5d\">del valore <span class=\"_ _2b\"></span>d\u2019uso, <span class=\"_ _2b\"></span><span class=\"ff56\">anche <span class=\"_ _29\"></span><span class=\"ff5d\">un\u2019analisi <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span><span class=\"ff56\">sensitivit\u00e0<span class=\"ff5a\"> </span></span></span></span></span>rispetto <span class=\"_ _28\"></span>al <span class=\"_ _2c\"></span>tasso <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>attualizzazione <span class=\"_ _2c\"></span>complessivo <span class=\"_ _2c\"></span>WACC <span class=\"_ _28\"></span>(<span class=\"ls9\">in<span class=\"_ _0\"></span></span>cremento <span class=\"_ _28\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>0,5% <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>1,0%) <span class=\"_ _2c\"></span>utilizzato <span class=\"_ _2c\"></span>ai <span class=\"_ _28\"></span>fini <span class=\"_ _2c\"></span>del calcolo <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">terminal <span class=\"_ _2d\"> </span>value</span>. <span class=\"_ _2d\"> </span>Sia <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>che <span class=\"_ _2d\"> </span>nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>peggio<span class=\"_ _0\"></span>ramento <span class=\"_ _2d\"> </span>congiunto <span class=\"_ _2d\"> </span>dei <span class=\"_ _2d\"> </span>parametri <span class=\"_ _2d\"> </span>di EBITDA <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>WACC<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span><span class=\"ff5d ls9\">l\u2019</span><span class=\"ff5a\">impairment <span class=\"_ _22\"></span>test</span> <span class=\"_ _22\"></span>effettuato <span class=\"_ _22\"></span><span class=\"ls1\">ha</span> <span class=\"_ _0\"></span>accertato <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>non <span class=\"_ _22\"></span>sussistono <span class=\"_ _22\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span><span class=\"ls64\">CGU </span>Rame<span class=\"fs1\">.</span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a ls18\">CGU <span class=\"ls0\">Profumi e Cosmesi </span></span></span>Il test di <span class=\"ff5a\">impairment</span> sulla CGU Profumi e Co<span class=\"_ _0\"></span>smesi (al 31 dicembre 20<span class=\"_ _0\"></span>22 valore avviamento pari ad Euro 27,8 <span class=\"_ _0\"></span>milioni), <span class=\"_ _0\"></span>\u00e8 stato <span class=\"_ _0\"></span>effettuato<span class=\"_ _0\"></span> sulla <span class=\"_ _0\"></span>base<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019<span class=\"ff5a\">Unlevered <span class=\"_ _0\"></span>discounted <span class=\"_ _0\"></span>cash <span class=\"_ _0\"></span>flow</span></span> <span class=\"_ _0\"></span>(UDCF) <span class=\"_ _0\"></span>attualizzando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>flussi di cassa operativi generati dagli <span class=\"_ _0\"></span><span class=\"ff5a\">asset</span> <span class=\"ff5d\">stessi (al netto dell\u2019ef</span>fetto fiscale). <span class=\"_ _0\"></span> Il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>recuperabile <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>stato <span class=\"_ _22\"></span>determinato <span class=\"_ _23\"></span>applicando <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _22\"></span><span class=\"ff5a\">Sum <span class=\"_ _22\"></span>of <span class=\"_ _22\"></span>Parts</span>, <span class=\"_ _22\"></span>considerando <span class=\"_ _23\"></span>i valori di CULTI Milano SpA e delle societ\u00e0 afferenti<span class=\"_ _0\"></span> al proprio<span class=\"_ _0\"></span> gruppo<span class=\"lsb\">. </span> Per <span class=\"_ _2d\"> </span>ogni <span class=\"_ _2d\"> </span>parte <span class=\"_ _2a\"> </span>(entit\u00e0), <span class=\"_ _2d\"> </span>i<span class=\"lsa\">l <span class=\"_ _2d\"> </span></span><span class=\"ff5a\">termina<span class=\"_ _0\"></span>l <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2a\"> </span>\u00e8 <span class=\"_ _2d\"> </span>stato <span class=\"_ _2d\"> </span>calcolato <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>relativo <span class=\"_ _2a\"> </span>EBITDA <span class=\"_ _2d\"> </span>storico <span class=\"_ _2d\"> </span>e considerando <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dati <span class=\"_ _0\"></span>previsionali <span class=\"_ _0\"></span>(periodo <span class=\"_ _0\"></span>esplicito, <span class=\"_ _0\"></span>1 <span class=\"_ _0\"></span>gennaio <span class=\"_ _0\"></span>2023 <span class=\"_ _0\"></span><span class=\"ff5d\">\u2013</span> <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2025<span class=\"ls7\">),</span> <span class=\"_ _0\"></span>utilizzando <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>tasso<span class=\"_ _0\"></span> di <span class=\"_ _22\"></span>crescita <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>lungo <span class=\"_ _23\"></span>periodo <span class=\"_ _22\"></span>\u201cg\u201d <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>zero<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>giungendo <span class=\"_ _23\"></span>ad <span class=\"_ _22\"></span>un <span class=\"_ _22\"></span>WACC <span class=\"_ _23\"></span>specifico <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>ciascuna <span class=\"_ _23\"></span>parte <span class=\"_ _22\"></span>(entit\u00e0); </span>tenuto <span class=\"_ _0\"></span>conto del <span class=\"_ _0\"></span>contributo di <span class=\"_ _0\"></span>ciascun <span class=\"_ _0\"></span>Paese all\u2019EBITDA <span class=\"_ _0\"></span>Terminal <span class=\"_ _0\"></span>Value, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>tasso di <span class=\"_ _0\"></span>sconto medio <span class=\"_ _0\"></span>ponderato<span class=\"_ _0\"></span> applicato all\u2019impairment test della CGU <span class=\"_ _0\"></span><span class=\"ff56\">Profumi e Cosmesi si attesta attorno<span class=\"_ _0\"></span> al 10,89%. </span>Anche <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>CGU <span class=\"_ _0\"></span>Pro<span class=\"_ _0\"></span>fumi <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>Cosmesi, <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>ciascuna <span class=\"_ _0\"></span>parte, <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>stata <span class=\"_ _0\"></span>effettuata <span class=\"_ _0\"></span><span class=\"ff5d ls9\">l\u2019</span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>fine di <span class=\"_ _2e\"> </span>comprendere <span class=\"_ _2e\"> </span>la <span class=\"_ _2e\"> </span>variazione <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _2e\"> </span>recuperabile<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span><span class=\"ff5d\">a <span class=\"_ _8b\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>variazioni <span class=\"_ _2e\"> </span>del <span class=\"_ _2e\"> </span>valore <span class=\"_ _8b\"> </span>dell\u2019EBITD<span class=\"_ _0\"></span>A </span>(decremento <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>5% <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>10%) <span class=\"_ _23\"></span>sul <span class=\"_ _23\"></span><span class=\"ff5a\">terminal <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>e<span class=\"lsb\">, <span class=\"_ _23\"></span></span>a <span class=\"_ _23\"></span>parit\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>crescita <span class=\"_ _23\"></span>(pari <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>zero), <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>tasso <span class=\"_ _23\"></span>di attualizzazione complessivo WACC<span class=\"_ _0\"></span> (<span class=\"ls9\">in</span>cremento di 0,5% e 1,0%).  Sia <span class=\"_\"> </span>nel <span class=\"_ _2e\"> </span>caso <span class=\"_ _8b\"> </span>base <span class=\"_ _8b\"> </span>che <span class=\"_ _2e\"> </span>nel <span class=\"_ _8b\"> </span>caso <span class=\"_ _8b\"> </span>di <span class=\"_ _2e\"> </span>peggioramento <span class=\"_ _8b\"> </span>congiunto<span class=\"_ _0\"></span> <span class=\"_\"> </span>dei <span class=\"_ _8b\"> </span>param<span class=\"_ _0\"></span>etri <span class=\"_ _8b\"> </span>di <span class=\"_ _8b\"> </span>EBITDA<span class=\"_ _0\"></span> <span class=\"_\"> </span>e <span class=\"_ _2e\"> </span>WACC, l\u2019<span class=\"ff5a ls0\">impairment test<span class=\"ff56\"> effettuato <span class=\"ls1\">ha</span> accertato che non<span class=\"_ _0\"></span> sussistono perd<span class=\"_ _0\"></span>ite di valo<span class=\"ls7\">re</span> sulla <span class=\"ls18\">CGU </span>Profumi e Cosmesi<span class=\"_ _0\"></span><span class=\"fs1\">.</span> </span></span>Inoltre, <span class=\"_ _22\"></span>p<span class=\"_ _0\"></span>arimenti <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _22\"></span>effettuato <span class=\"_ _23\"></span>ai <span class=\"_ _0\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>determinazione <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _22\"></span>value</span> <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>bilancio <span class=\"_ _22\"></span>consolidato redatto <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2021 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span>la <span class=\"_ _22\"></span>relazion<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>finanziaria <span class=\"_ _23\"></span>semestrale <span class=\"_ _22\"></span>20<span class=\"_ _0\"></span>22<span class=\"_ _0\"></span><span class=\"ff5a\">, <span class=\"_ _22\"></span>s</span>ono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>altres\u00ec <span class=\"_ _23\"></span>condotte analisi <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>liq<span class=\"_ _0\"></span>uidit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _0\"></span><span class=\"ff5a\">trend<span class=\"_ _0\"></span></span> <span class=\"_ _22\"></span>sul <span class=\"_ _0\"></span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>borsa <span class=\"_ _22\"></span>(sui <span class=\"_ _22\"></span>volumi <span class=\"_ _22\"></span>scambiati, <span class=\"_ _22\"></span>sia <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>termini <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>numero <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>azioni <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> controvalore <span class=\"_ _0\"></span>monetario <span class=\"_ _0\"></span>scambiato) <span class=\"_ _0\"></span>anche <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span><span class=\"ff5a\">comparables</span>. <span class=\"_ _0\"></span>Tali <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>hanno <span class=\"_ _0\"></span>evidenziato <span class=\"_ _0\"></span>che nel <span class=\"_ _0\"></span>corso <span class=\"_ _22\"></span>dell\u2019ultimo <span class=\"_ _22\"></span>anno<span class=\"ff56\"> <span class=\"_ _0\"></span>(3 <span class=\"_ _22\"></span>gennaio <span class=\"_ _22\"></span>2022 <span class=\"_ _0\"></span></span>\u2013<span class=\"ff56\"> <span class=\"_ _22\"></span>31 <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span>cembre <span class=\"_ _0\"></span>2022<span class=\"_ _0\"></span>), <span class=\"_ _0\"></span>nei <span class=\"_ _22\"></span>diversi <span class=\"_ _0\"></span>orizzonti <span class=\"_ _22\"></span>temporali <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>1 <span class=\"_ _22\"></span>mese, <span class=\"_ _0\"></span>3 </span>mesi, <span class=\"_ _2c\"></span>6 <span class=\"_ _2c\"> </span>mesi <span class=\"_ _2d\"> </span>e <span class=\"_ _28\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>anno, <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>volumi <span class=\"_ _28\"></span>di <span class=\"_ _2d\"> </span>s<span class=\"_ _29\"></span>cambio <span class=\"_ _2c\"></span>del <span class=\"_ _2c\"> </span>tito<span class=\"_ _0\"></span>lo <span class=\"_ _2d\"> </span>CULTI <span class=\"_ _2c\"></span>Milano <span class=\"_ _2c\"> </span>sono <span class=\"_ _2c\"> </span>stati <span class=\"_ _2d\"> </span>in <span class=\"_ _2c\"></span>linea <span class=\"_ _2c\"></span>con <span class=\"_ _2c\"> </span>quelli <span class=\"_ _2d\"> </span>dei comparables<span class=\"ff56\"> <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>quindi <span class=\"_ _22\"></span>ci\u00f2 <span class=\"_ _22\"></span>condurrebbe <span class=\"_ _22\"></span>a <span class=\"_ _0\"></span>ritenere <span class=\"_ _22\"></span>comun<span class=\"_ _0\"></span>que <span class=\"_ _22\"></span>significativo <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>metodo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>delle <span class=\"_ _22\"></span>quotazioni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa </span>al fine di determinare il valore corrente teorico <span class=\"_ _0\"></span>di CULTI Milano<span class=\"_ _0\"></span> utile ai fini del test di <span class=\"_ _0\"></span><span class=\"ff5a\">impairment</span>. Anche <span class=\"_ _22\"></span>tale <span class=\"_ _0\"></span>v<span class=\"_ _0\"></span>alorizzazione <span class=\"_ _22\"></span>risulterebbe <span class=\"_ _22\"></span>superiore <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>CGU <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>esame <span class=\"_ _22\"></span>(valore <span class=\"_ _22\"></span>unitario azione pari ad Euro 20,20). Risultanze del test sulle CGU identificate<span class=\"_ _0\"></span> Gli <span class=\"_ _0\"></span>esiti <span class=\"_ _0\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _22\"></span><span class=\"ff5a\">impairment <span class=\"_ _0\"></span>test</span> <span class=\"_ _22\"></span>non <span class=\"_ _0\"></span>hanno <span class=\"_ _22\"></span>evidenziato <span class=\"_ _0\"></span>perdite <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>valore <span class=\"_ _22\"></span>degli <span class=\"_ _0\"></span>avviamenti <span class=\"_ _22\"></span>iscritti, <span class=\"_ _0\"></span>sia <span class=\"_ _22\"></span>nello scenario di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>riferimento <span class=\"_ _0\"></span>che <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>quelli <span class=\"_ _0\"></span>ipotizzati <span class=\"_ _0\"></span>dalle <span class=\"_ _0\"></span>analisi <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>sensitivit\u00e0 <span class=\"_ _0\"></span>effettua<span class=\"_ _0\"></span>te<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>(peggioramento <span class=\"_ _0\"></span>congiunto di EBITDA e WACC), con<span class=\"_ _0\"></span> un <span class=\"ff5a\">recoverable amount<span class=\"_ _0\"></span></span> delle CGU sempre superiore al v<span class=\"_ _0\"></span>alore di <span class=\"ff5a\">carrying amou<span class=\"_ _0\"></span>nt</span> evidenziato nel presente Bilancio Con<span class=\"_ _0\"></span>solidato.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__97": {
   "value": "4.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Partecipazioni (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Partecipazioni in controllate  23.281  620.201  (596.920) Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405  16.922  483  Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654   -<span class=\"lsd\">  </span> 76.654  Partecipazioni 117.340  637.123  (519.783) Di <span class=\"_ _2c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"> </span>movimentazione <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>nella <span class=\"_ _2c\"> </span>voce <span class=\"_ _2d\"> </span>\u201cValutazioni <span class=\"_ _2d\"> </span>attive <span class=\"_ _2d\"> </span><span class=\"ff5a\">Fair </span>Value<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>accogl<span class=\"_ _0\"></span>ie <span class=\"_ _2b\"></span>l\u2019effetto<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>della valutazione <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">di <span class=\"_ _2b\"></span>CULTI <span class=\"_ _2b\"></span>Milano con <span class=\"_ _2b\"></span>l\u2019iscrizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>effetto positivo </span></span></span></span></span>pari <span class=\"_ _46\"> </span>ad <span class=\"_ _3b\"> </span>Euro <span class=\"_ _46\"> </span>9.078 <span class=\"_ _3b\"> </span>migliaia <span class=\"_ _46\"> </span>(avente <span class=\"_ _3b\"> </span>impatto <span class=\"_ _46\"> </span>a <span class=\"_ _46\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _46\"> </span>economico<span class=\"ff5d\">, <span class=\"_ _3b\"> </span>confluito <span class=\"_ _46\"> </span>nella <span class=\"_ _46\"> </span>voce <span class=\"_ _3b\"> </span>\u201cRisultato </span>partecipazioni\u201d<span class=\"ff56\">); <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>valutazione <span class=\"_ _22\"></span>recepisce <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>partecipata <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cambio <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> </span>\u201centit\u00e0 di investimento\u201d. <span class=\"ff56\"> </span>Gli <span class=\"_ _22\"></span>incrementi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _22\"></span>rappresentati, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>658 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>partecipazione <span class=\"_ _23\"></span>in Oasi <span class=\"_ _2b\"></span>Dynamo <span class=\"_ _2b\"></span>Fo<span class=\"_ _0\"></span>odCo <span class=\"_ _2b\"></span>S.r.l. <span class=\"_ _2b\"></span>incrementata <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>400 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>258 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ff5d\">per <span class=\"_ _29\"></span>l\u2019acquisizione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>KME </span>Middle East FZE, partecipazione inclusa nel ramo <span class=\"_ _0\"></span>d'azienda acquisito<span class=\"_ _0\"></span> da Aurubis. Partecipazioni Partecipazioni Partecipazioni (in migliaia di Euro) a patrimonio Totale in controllate in altre imprese netto Totale al 31 dicembre 2021 620.201  16.922   -<span class=\"lsd\">  </span> 637.123  Incrementi 10   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 10  Valutazioni attive <span class=\"ff5a\">Fair Value</span> 9.078   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 9.078  Totale al 30 aprile 2022 629.289  16.922   -<span class=\"lsd\">  </span> 646.211  Variazione per Entit\u00e0 di <span class=\"_ _29\"></span>Investimento (616.292)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (616.292) Variazione area di consolida<span class=\"_ _29\"></span>mento IFRS 10 9.751  478  98.902  109.131  Incrementi 658  5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 663  Effetto cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.174) (2.174) Variazioni PPA (50)  -<span class=\"lsd\">  </span> (11.134) (11.184) Decrementi (75)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (75) Riclassifiche  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Quota utili/perdite a conto ec<span class=\"_ _29\"></span>onomico  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.285) (10.285) Quote a patrimonio netto  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.345  1.345  Totale al 31 dicembre 2022 23.281  17.405  76.654  117.340  Il dettaglio della voce al 31 dicembre 2022 \u00e8 il <span class=\"_ _0\"></span>seguente: % di % di Sede Denominazione  possesso al possesso al 31/12/2022 31/12/2021 legale 31/12/2022 31/12/2022 (in migliaia di diretta indiretta (in migliaia di Euro) Euro) KME SE Germania 10% 89,00%  -<span class=\"lsf\">  </span> 578.300  CULTI Milano SpA Italia 77,17% -  -<span class=\"lsf\">  </span> 28.904  Intek Investimenti SpA Italia 100% - 11.200  11.200  KME Germany Bet. GmbH Germania - 100,00% 1.707  1.700  KME Metale Sp. z o.o. Polonia - 99,00% 3.498   -<span class=\"lsf\">  </span> KME ( Suisse ) S.A. Svizzera - 99,00% 1.138   -<span class=\"lsf\">  </span> Oasi Dynamo Societa Agricola S.r.l. Italia - 82,64% 4.910   -<span class=\"lsf\">  </span> - 400   - Oasi Dynamo Foodco Srl Italia 82,64% Altre soc. afferenti al gruppo KME SE n.a. n.a. 388  - Altre societ\u00e0 afferenti alla Capogruppo n.a. n.a. 40 97 Partecipazioni in controllate 23.281  620.201  Ducati Energia SpA Italia 6,77% - 16.700  16.700  Vita Societ\u00e0 Editoriale SpA Italia 13,22% - 222  222  Metal Interconnector ScpA Italia - 0,36% 318   -<span class=\"lsf\">  </span> Altre minori n.a. n.a. 165   -<span class=\"lsf\">  </span> Partecipazioni in altre imprese 17.405  16.922  Hong 46.524   -<span class=\"lsf\">  </span> KMD (HK) Holding Limited Kong - 49,50% Azienda Metalli Laminati S.p.A. Italia - 23,96% 68   -<span class=\"lsf\">  </span> Dynamo Academy S.r.l. Italia - 24,75% 805   -<span class=\"lsf\">  </span> Magnet Joint Venture Gmbh Germania - 44,55% 29.257   -<span class=\"lsf\">  </span> Partecipazioni a patrimonio netto 76.654   -<span class=\"lsf\">  </span> Partecipazioni 117.340  637.123  La vo<span class=\"_ _0\"></span>ce \u201cPart<span class=\"_ _0\"></span>ecipazioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>altre <span class=\"_ _0\"></span>imprese\u201d <span class=\"_ _0\"></span>accoglie <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>Ducati <span class=\"_ _0\"></span>En<span class=\"_ _0\"></span>ergia <span class=\"_ _0\"></span>SpA, <span class=\"_ _0\"></span>partecipazione di minoranza in capo alla Capogruppo<span class=\"_ _0\"></span>. Le <span class=\"_ _2d\"> </span>\u201cPartecipazioni <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto\u201d <span class=\"_ _2d\"> </span>comprendono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>congiunto, <span class=\"_ _2d\"> </span>nello specifico: \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _23\"></span>46<span class=\"_ _0\"></span><span class=\"lsd\">.5</span>24 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>relativi <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipazione <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>50% <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _23\"></span>nella <span class=\"_ _28\"></span>KMD <span class=\"_ _28\"></span>(HK)<span class=\"_ _0\"></span> </span></span>Holding Ltd. <span class=\"_ _29\"></span>costituita nel <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>14 insieme <span class=\"_ _29\"></span>ad un <span class=\"_ _2b\"></span>partner. KMD \u00e8 <span class=\"_ _29\"></span>un'azienda indipendente ed <span class=\"_ _2b\"></span>\u00e8 gestita in modo indipendente e che produce principalmente pr<span class=\"_ _0\"></span>odotti di stampaggio <span class=\"_ _0\"></span>nel settore Copper; \u2022 <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _28\"></span>29<span class=\"_ _0\"></span>.257 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>partecipazione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>45% <span class=\"_ _2d\"> </span>da <span class=\"_ _28\"></span>parte <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"> </span>SE <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>n <span class=\"_ _2c\"></span>Magnet <span class=\"_ _2c\"></span>Joint <span class=\"_ _2c\"></span>Venture </span>GmbH. Tale <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>\u00e8 stata <span class=\"_ _0\"></span><span class=\"ff5d\">acquisita nell\u2019ambito <span class=\"_ _0\"></span>degli accordi <span class=\"_ _0\"></span>con Parago<span class=\"_ _0\"></span>n relativi <span class=\"_ _0\"></span>alla cessione <span class=\"_ _0\"></span>del </span>controllo del <span class=\"_ _0\"></span>Business <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>Speciali. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>valorizzazion<span class=\"_ _0\"></span>e includ<span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>aggiustamenti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> al momento dell'acquisizione. Tali <span class=\"_ _2b\"></span>partecipazioni, nel<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>complesso<span class=\"lsb\">, <span class=\"_ _2b\"></span><span class=\"ls0\">neg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>otto <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>saldi <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Bilancio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Consolidato<span class=\"_ _0\"></span>, </span></span>hanno contribuito negativamente al risul<span class=\"_ _0\"></span>tato del Gruppo.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfJointVenturesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__96": {
   "value": "4.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Partecipazioni (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Partecipazioni in controllate  23.281  620.201  (596.920) Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405  16.922  483  Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654   -<span class=\"lsd\">  </span> 76.654  Partecipazioni 117.340  637.123  (519.783) Di <span class=\"_ _2c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"> </span>movimentazione <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>nella <span class=\"_ _2c\"> </span>voce <span class=\"_ _2d\"> </span>\u201cValutazioni <span class=\"_ _2d\"> </span>attive <span class=\"_ _2d\"> </span><span class=\"ff5a\">Fair </span>Value<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>accogl<span class=\"_ _0\"></span>ie <span class=\"_ _2b\"></span>l\u2019effetto<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>della valutazione <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">di <span class=\"_ _2b\"></span>CULTI <span class=\"_ _2b\"></span>Milano con <span class=\"_ _2b\"></span>l\u2019iscrizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>effetto positivo </span></span></span></span></span>pari <span class=\"_ _46\"> </span>ad <span class=\"_ _3b\"> </span>Euro <span class=\"_ _46\"> </span>9.078 <span class=\"_ _3b\"> </span>migliaia <span class=\"_ _46\"> </span>(avente <span class=\"_ _3b\"> </span>impatto <span class=\"_ _46\"> </span>a <span class=\"_ _46\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _46\"> </span>economico<span class=\"ff5d\">, <span class=\"_ _3b\"> </span>confluito <span class=\"_ _46\"> </span>nella <span class=\"_ _46\"> </span>voce <span class=\"_ _3b\"> </span>\u201cRisultato </span>partecipazioni\u201d<span class=\"ff56\">); <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>valutazione <span class=\"_ _22\"></span>recepisce <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>partecipata <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cambio <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> </span>\u201centit\u00e0 di investimento\u201d. <span class=\"ff56\"> </span>Gli <span class=\"_ _22\"></span>incrementi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _22\"></span>rappresentati, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>658 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>partecipazione <span class=\"_ _23\"></span>in Oasi <span class=\"_ _2b\"></span>Dynamo <span class=\"_ _2b\"></span>Fo<span class=\"_ _0\"></span>odCo <span class=\"_ _2b\"></span>S.r.l. <span class=\"_ _2b\"></span>incrementata <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>400 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>258 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ff5d\">per <span class=\"_ _29\"></span>l\u2019acquisizione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>KME </span>Middle East FZE, partecipazione inclusa nel ramo <span class=\"_ _0\"></span>d'azienda acquisito<span class=\"_ _0\"></span> da Aurubis. Partecipazioni Partecipazioni Partecipazioni (in migliaia di Euro) a patrimonio Totale in controllate in altre imprese netto Totale al 31 dicembre 2021 620.201  16.922   -<span class=\"lsd\">  </span> 637.123  Incrementi 10   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 10  Valutazioni attive <span class=\"ff5a\">Fair Value</span> 9.078   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 9.078  Totale al 30 aprile 2022 629.289  16.922   -<span class=\"lsd\">  </span> 646.211  Variazione per Entit\u00e0 di <span class=\"_ _29\"></span>Investimento (616.292)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (616.292) Variazione area di consolida<span class=\"_ _29\"></span>mento IFRS 10 9.751  478  98.902  109.131  Incrementi 658  5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 663  Effetto cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.174) (2.174) Variazioni PPA (50)  -<span class=\"lsd\">  </span> (11.134) (11.184) Decrementi (75)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (75) Riclassifiche  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Quota utili/perdite a conto ec<span class=\"_ _29\"></span>onomico  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.285) (10.285) Quote a patrimonio netto  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.345  1.345  Totale al 31 dicembre 2022 23.281  17.405  76.654  117.340  Il dettaglio della voce al 31 dicembre 2022 \u00e8 il <span class=\"_ _0\"></span>seguente: % di % di Sede Denominazione  possesso al possesso al 31/12/2022 31/12/2021 legale 31/12/2022 31/12/2022 (in migliaia di diretta indiretta (in migliaia di Euro) Euro) KME SE Germania 10% 89,00%  -<span class=\"lsf\">  </span> 578.300  CULTI Milano SpA Italia 77,17% -  -<span class=\"lsf\">  </span> 28.904  Intek Investimenti SpA Italia 100% - 11.200  11.200  KME Germany Bet. GmbH Germania - 100,00% 1.707  1.700  KME Metale Sp. z o.o. Polonia - 99,00% 3.498   -<span class=\"lsf\">  </span> KME ( Suisse ) S.A. Svizzera - 99,00% 1.138   -<span class=\"lsf\">  </span> Oasi Dynamo Societa Agricola S.r.l. Italia - 82,64% 4.910   -<span class=\"lsf\">  </span> - 400   - Oasi Dynamo Foodco Srl Italia 82,64% Altre soc. afferenti al gruppo KME SE n.a. n.a. 388  - Altre societ\u00e0 afferenti alla Capogruppo n.a. n.a. 40 97 Partecipazioni in controllate 23.281  620.201  Ducati Energia SpA Italia 6,77% - 16.700  16.700  Vita Societ\u00e0 Editoriale SpA Italia 13,22% - 222  222  Metal Interconnector ScpA Italia - 0,36% 318   -<span class=\"lsf\">  </span> Altre minori n.a. n.a. 165   -<span class=\"lsf\">  </span> Partecipazioni in altre imprese 17.405  16.922  Hong 46.524   -<span class=\"lsf\">  </span> KMD (HK) Holding Limited Kong - 49,50% Azienda Metalli Laminati S.p.A. Italia - 23,96% 68   -<span class=\"lsf\">  </span> Dynamo Academy S.r.l. Italia - 24,75% 805   -<span class=\"lsf\">  </span> Magnet Joint Venture Gmbh Germania - 44,55% 29.257   -<span class=\"lsf\">  </span> Partecipazioni a patrimonio netto 76.654   -<span class=\"lsf\">  </span> Partecipazioni 117.340  637.123  La vo<span class=\"_ _0\"></span>ce \u201cPart<span class=\"_ _0\"></span>ecipazioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>altre <span class=\"_ _0\"></span>imprese\u201d <span class=\"_ _0\"></span>accoglie <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>Ducati <span class=\"_ _0\"></span>En<span class=\"_ _0\"></span>ergia <span class=\"_ _0\"></span>SpA, <span class=\"_ _0\"></span>partecipazione di minoranza in capo alla Capogruppo<span class=\"_ _0\"></span>. Le <span class=\"_ _2d\"> </span>\u201cPartecipazioni <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto\u201d <span class=\"_ _2d\"> </span>comprendono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>congiunto, <span class=\"_ _2d\"> </span>nello specifico: \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _23\"></span>46<span class=\"_ _0\"></span><span class=\"lsd\">.5</span>24 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>relativi <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipazione <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>50% <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _23\"></span>nella <span class=\"_ _28\"></span>KMD <span class=\"_ _28\"></span>(HK)<span class=\"_ _0\"></span> </span></span>Holding Ltd. <span class=\"_ _29\"></span>costituita nel <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>14 insieme <span class=\"_ _29\"></span>ad un <span class=\"_ _2b\"></span>partner. KMD \u00e8 <span class=\"_ _29\"></span>un'azienda indipendente ed <span class=\"_ _2b\"></span>\u00e8 gestita in modo indipendente e che produce principalmente pr<span class=\"_ _0\"></span>odotti di stampaggio <span class=\"_ _0\"></span>nel settore Copper; \u2022 <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _28\"></span>29<span class=\"_ _0\"></span>.257 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>partecipazione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>45% <span class=\"_ _2d\"> </span>da <span class=\"_ _28\"></span>parte <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"> </span>SE <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>n <span class=\"_ _2c\"></span>Magnet <span class=\"_ _2c\"></span>Joint <span class=\"_ _2c\"></span>Venture </span>GmbH. Tale <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>\u00e8 stata <span class=\"_ _0\"></span><span class=\"ff5d\">acquisita nell\u2019ambito <span class=\"_ _0\"></span>degli accordi <span class=\"_ _0\"></span>con Parago<span class=\"_ _0\"></span>n relativi <span class=\"_ _0\"></span>alla cessione <span class=\"_ _0\"></span>del </span>controllo del <span class=\"_ _0\"></span>Business <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>Speciali. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>valorizzazion<span class=\"_ _0\"></span>e includ<span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>aggiustamenti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> al momento dell'acquisizione. Tali <span class=\"_ _2b\"></span>partecipazioni, nel<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>complesso<span class=\"lsb\">, <span class=\"_ _2b\"></span><span class=\"ls0\">neg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>otto <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>saldi <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Bilancio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Consolidato<span class=\"_ _0\"></span>, </span></span>hanno contribuito negativamente al risul<span class=\"_ _0\"></span>tato del Gruppo.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__95": {
   "value": "4.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Partecipazioni (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Partecipazioni in controllate  23.281  620.201  (596.920) Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405  16.922  483  Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654   -<span class=\"lsd\">  </span> 76.654  Partecipazioni 117.340  637.123  (519.783) Di <span class=\"_ _2c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"> </span>movimentazione <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>nella <span class=\"_ _2c\"> </span>voce <span class=\"_ _2d\"> </span>\u201cValutazioni <span class=\"_ _2d\"> </span>attive <span class=\"_ _2d\"> </span><span class=\"ff5a\">Fair </span>Value<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>accogl<span class=\"_ _0\"></span>ie <span class=\"_ _2b\"></span>l\u2019effetto<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>della valutazione <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">di <span class=\"_ _2b\"></span>CULTI <span class=\"_ _2b\"></span>Milano con <span class=\"_ _2b\"></span>l\u2019iscrizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>effetto positivo </span></span></span></span></span>pari <span class=\"_ _46\"> </span>ad <span class=\"_ _3b\"> </span>Euro <span class=\"_ _46\"> </span>9.078 <span class=\"_ _3b\"> </span>migliaia <span class=\"_ _46\"> </span>(avente <span class=\"_ _3b\"> </span>impatto <span class=\"_ _46\"> </span>a <span class=\"_ _46\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _46\"> </span>economico<span class=\"ff5d\">, <span class=\"_ _3b\"> </span>confluito <span class=\"_ _46\"> </span>nella <span class=\"_ _46\"> </span>voce <span class=\"_ _3b\"> </span>\u201cRisultato </span>partecipazioni\u201d<span class=\"ff56\">); <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>valutazione <span class=\"_ _22\"></span>recepisce <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>partecipata <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cambio <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> </span>\u201centit\u00e0 di investimento\u201d. <span class=\"ff56\"> </span>Gli <span class=\"_ _22\"></span>incrementi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _22\"></span>rappresentati, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>658 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>partecipazione <span class=\"_ _23\"></span>in Oasi <span class=\"_ _2b\"></span>Dynamo <span class=\"_ _2b\"></span>Fo<span class=\"_ _0\"></span>odCo <span class=\"_ _2b\"></span>S.r.l. <span class=\"_ _2b\"></span>incrementata <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>400 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>258 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ff5d\">per <span class=\"_ _29\"></span>l\u2019acquisizione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>KME </span>Middle East FZE, partecipazione inclusa nel ramo <span class=\"_ _0\"></span>d'azienda acquisito<span class=\"_ _0\"></span> da Aurubis. Partecipazioni Partecipazioni Partecipazioni (in migliaia di Euro) a patrimonio Totale in controllate in altre imprese netto Totale al 31 dicembre 2021 620.201  16.922   -<span class=\"lsd\">  </span> 637.123  Incrementi 10   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 10  Valutazioni attive <span class=\"ff5a\">Fair Value</span> 9.078   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 9.078  Totale al 30 aprile 2022 629.289  16.922   -<span class=\"lsd\">  </span> 646.211  Variazione per Entit\u00e0 di <span class=\"_ _29\"></span>Investimento (616.292)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (616.292) Variazione area di consolida<span class=\"_ _29\"></span>mento IFRS 10 9.751  478  98.902  109.131  Incrementi 658  5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 663  Effetto cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.174) (2.174) Variazioni PPA (50)  -<span class=\"lsd\">  </span> (11.134) (11.184) Decrementi (75)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (75) Riclassifiche  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Quota utili/perdite a conto ec<span class=\"_ _29\"></span>onomico  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.285) (10.285) Quote a patrimonio netto  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.345  1.345  Totale al 31 dicembre 2022 23.281  17.405  76.654  117.340  Il dettaglio della voce al 31 dicembre 2022 \u00e8 il <span class=\"_ _0\"></span>seguente: % di % di Sede Denominazione  possesso al possesso al 31/12/2022 31/12/2021 legale 31/12/2022 31/12/2022 (in migliaia di diretta indiretta (in migliaia di Euro) Euro) KME SE Germania 10% 89,00%  -<span class=\"lsf\">  </span> 578.300  CULTI Milano SpA Italia 77,17% -  -<span class=\"lsf\">  </span> 28.904  Intek Investimenti SpA Italia 100% - 11.200  11.200  KME Germany Bet. GmbH Germania - 100,00% 1.707  1.700  KME Metale Sp. z o.o. Polonia - 99,00% 3.498   -<span class=\"lsf\">  </span> KME ( Suisse ) S.A. Svizzera - 99,00% 1.138   -<span class=\"lsf\">  </span> Oasi Dynamo Societa Agricola S.r.l. Italia - 82,64% 4.910   -<span class=\"lsf\">  </span> - 400   - Oasi Dynamo Foodco Srl Italia 82,64% Altre soc. afferenti al gruppo KME SE n.a. n.a. 388  - Altre societ\u00e0 afferenti alla Capogruppo n.a. n.a. 40 97 Partecipazioni in controllate 23.281  620.201  Ducati Energia SpA Italia 6,77% - 16.700  16.700  Vita Societ\u00e0 Editoriale SpA Italia 13,22% - 222  222  Metal Interconnector ScpA Italia - 0,36% 318   -<span class=\"lsf\">  </span> Altre minori n.a. n.a. 165   -<span class=\"lsf\">  </span> Partecipazioni in altre imprese 17.405  16.922  Hong 46.524   -<span class=\"lsf\">  </span> KMD (HK) Holding Limited Kong - 49,50% Azienda Metalli Laminati S.p.A. Italia - 23,96% 68   -<span class=\"lsf\">  </span> Dynamo Academy S.r.l. Italia - 24,75% 805   -<span class=\"lsf\">  </span> Magnet Joint Venture Gmbh Germania - 44,55% 29.257   -<span class=\"lsf\">  </span> Partecipazioni a patrimonio netto 76.654   -<span class=\"lsf\">  </span> Partecipazioni 117.340  637.123  La vo<span class=\"_ _0\"></span>ce \u201cPart<span class=\"_ _0\"></span>ecipazioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>altre <span class=\"_ _0\"></span>imprese\u201d <span class=\"_ _0\"></span>accoglie <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>Ducati <span class=\"_ _0\"></span>En<span class=\"_ _0\"></span>ergia <span class=\"_ _0\"></span>SpA, <span class=\"_ _0\"></span>partecipazione di minoranza in capo alla Capogruppo<span class=\"_ _0\"></span>. Le <span class=\"_ _2d\"> </span>\u201cPartecipazioni <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto\u201d <span class=\"_ _2d\"> </span>comprendono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>congiunto, <span class=\"_ _2d\"> </span>nello specifico: \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _23\"></span>46<span class=\"_ _0\"></span><span class=\"lsd\">.5</span>24 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>relativi <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipazione <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>50% <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _23\"></span>nella <span class=\"_ _28\"></span>KMD <span class=\"_ _28\"></span>(HK)<span class=\"_ _0\"></span> </span></span>Holding Ltd. <span class=\"_ _29\"></span>costituita nel <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>14 insieme <span class=\"_ _29\"></span>ad un <span class=\"_ _2b\"></span>partner. KMD \u00e8 <span class=\"_ _29\"></span>un'azienda indipendente ed <span class=\"_ _2b\"></span>\u00e8 gestita in modo indipendente e che produce principalmente pr<span class=\"_ _0\"></span>odotti di stampaggio <span class=\"_ _0\"></span>nel settore Copper; \u2022 <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _28\"></span>29<span class=\"_ _0\"></span>.257 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>partecipazione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>45% <span class=\"_ _2d\"> </span>da <span class=\"_ _28\"></span>parte <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"> </span>SE <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>n <span class=\"_ _2c\"></span>Magnet <span class=\"_ _2c\"></span>Joint <span class=\"_ _2c\"></span>Venture </span>GmbH. Tale <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>\u00e8 stata <span class=\"_ _0\"></span><span class=\"ff5d\">acquisita nell\u2019ambito <span class=\"_ _0\"></span>degli accordi <span class=\"_ _0\"></span>con Parago<span class=\"_ _0\"></span>n relativi <span class=\"_ _0\"></span>alla cessione <span class=\"_ _0\"></span>del </span>controllo del <span class=\"_ _0\"></span>Business <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>Speciali. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>valorizzazion<span class=\"_ _0\"></span>e includ<span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>aggiustamenti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> al momento dell'acquisizione. Tali <span class=\"_ _2b\"></span>partecipazioni, nel<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>complesso<span class=\"lsb\">, <span class=\"_ _2b\"></span><span class=\"ls0\">neg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>otto <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>saldi <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Bilancio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Consolidato<span class=\"_ _0\"></span>, </span></span>hanno contribuito negativamente al risul<span class=\"_ _0\"></span>tato del Gruppo.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__94": {
   "value": "4.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Partecipazioni (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Partecipazioni in controllate  23.281  620.201  (596.920) Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405  16.922  483  Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654   -<span class=\"lsd\">  </span> 76.654  Partecipazioni 117.340  637.123  (519.783) Di <span class=\"_ _2c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"> </span>movimentazione <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>nella <span class=\"_ _2c\"> </span>voce <span class=\"_ _2d\"> </span>\u201cValutazioni <span class=\"_ _2d\"> </span>attive <span class=\"_ _2d\"> </span><span class=\"ff5a\">Fair </span>Value<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>accogl<span class=\"_ _0\"></span>ie <span class=\"_ _2b\"></span>l\u2019effetto<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>della valutazione <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">di <span class=\"_ _2b\"></span>CULTI <span class=\"_ _2b\"></span>Milano con <span class=\"_ _2b\"></span>l\u2019iscrizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>effetto positivo </span></span></span></span></span>pari <span class=\"_ _46\"> </span>ad <span class=\"_ _3b\"> </span>Euro <span class=\"_ _46\"> </span>9.078 <span class=\"_ _3b\"> </span>migliaia <span class=\"_ _46\"> </span>(avente <span class=\"_ _3b\"> </span>impatto <span class=\"_ _46\"> </span>a <span class=\"_ _46\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _46\"> </span>economico<span class=\"ff5d\">, <span class=\"_ _3b\"> </span>confluito <span class=\"_ _46\"> </span>nella <span class=\"_ _46\"> </span>voce <span class=\"_ _3b\"> </span>\u201cRisultato </span>partecipazioni\u201d<span class=\"ff56\">); <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>valutazione <span class=\"_ _22\"></span>recepisce <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>partecipata <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cambio <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> </span>\u201centit\u00e0 di investimento\u201d. <span class=\"ff56\"> </span>Gli <span class=\"_ _22\"></span>incrementi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _22\"></span>rappresentati, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>658 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>partecipazione <span class=\"_ _23\"></span>in Oasi <span class=\"_ _2b\"></span>Dynamo <span class=\"_ _2b\"></span>Fo<span class=\"_ _0\"></span>odCo <span class=\"_ _2b\"></span>S.r.l. <span class=\"_ _2b\"></span>incrementata <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>400 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>258 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ff5d\">per <span class=\"_ _29\"></span>l\u2019acquisizione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>KME </span>Middle East FZE, partecipazione inclusa nel ramo <span class=\"_ _0\"></span>d'azienda acquisito<span class=\"_ _0\"></span> da Aurubis. Partecipazioni Partecipazioni Partecipazioni (in migliaia di Euro) a patrimonio Totale in controllate in altre imprese netto Totale al 31 dicembre 2021 620.201  16.922   -<span class=\"lsd\">  </span> 637.123  Incrementi 10   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 10  Valutazioni attive <span class=\"ff5a\">Fair Value</span> 9.078   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 9.078  Totale al 30 aprile 2022 629.289  16.922   -<span class=\"lsd\">  </span> 646.211  Variazione per Entit\u00e0 di <span class=\"_ _29\"></span>Investimento (616.292)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (616.292) Variazione area di consolida<span class=\"_ _29\"></span>mento IFRS 10 9.751  478  98.902  109.131  Incrementi 658  5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 663  Effetto cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.174) (2.174) Variazioni PPA (50)  -<span class=\"lsd\">  </span> (11.134) (11.184) Decrementi (75)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (75) Riclassifiche  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Quota utili/perdite a conto ec<span class=\"_ _29\"></span>onomico  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.285) (10.285) Quote a patrimonio netto  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.345  1.345  Totale al 31 dicembre 2022 23.281  17.405  76.654  117.340  Il dettaglio della voce al 31 dicembre 2022 \u00e8 il <span class=\"_ _0\"></span>seguente: % di % di Sede Denominazione  possesso al possesso al 31/12/2022 31/12/2021 legale 31/12/2022 31/12/2022 (in migliaia di diretta indiretta (in migliaia di Euro) Euro) KME SE Germania 10% 89,00%  -<span class=\"lsf\">  </span> 578.300  CULTI Milano SpA Italia 77,17% -  -<span class=\"lsf\">  </span> 28.904  Intek Investimenti SpA Italia 100% - 11.200  11.200  KME Germany Bet. GmbH Germania - 100,00% 1.707  1.700  KME Metale Sp. z o.o. Polonia - 99,00% 3.498   -<span class=\"lsf\">  </span> KME ( Suisse ) S.A. Svizzera - 99,00% 1.138   -<span class=\"lsf\">  </span> Oasi Dynamo Societa Agricola S.r.l. Italia - 82,64% 4.910   -<span class=\"lsf\">  </span> - 400   - Oasi Dynamo Foodco Srl Italia 82,64% Altre soc. afferenti al gruppo KME SE n.a. n.a. 388  - Altre societ\u00e0 afferenti alla Capogruppo n.a. n.a. 40 97 Partecipazioni in controllate 23.281  620.201  Ducati Energia SpA Italia 6,77% - 16.700  16.700  Vita Societ\u00e0 Editoriale SpA Italia 13,22% - 222  222  Metal Interconnector ScpA Italia - 0,36% 318   -<span class=\"lsf\">  </span> Altre minori n.a. n.a. 165   -<span class=\"lsf\">  </span> Partecipazioni in altre imprese 17.405  16.922  Hong 46.524   -<span class=\"lsf\">  </span> KMD (HK) Holding Limited Kong - 49,50% Azienda Metalli Laminati S.p.A. Italia - 23,96% 68   -<span class=\"lsf\">  </span> Dynamo Academy S.r.l. Italia - 24,75% 805   -<span class=\"lsf\">  </span> Magnet Joint Venture Gmbh Germania - 44,55% 29.257   -<span class=\"lsf\">  </span> Partecipazioni a patrimonio netto 76.654   -<span class=\"lsf\">  </span> Partecipazioni 117.340  637.123  La vo<span class=\"_ _0\"></span>ce \u201cPart<span class=\"_ _0\"></span>ecipazioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>altre <span class=\"_ _0\"></span>imprese\u201d <span class=\"_ _0\"></span>accoglie <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>Ducati <span class=\"_ _0\"></span>En<span class=\"_ _0\"></span>ergia <span class=\"_ _0\"></span>SpA, <span class=\"_ _0\"></span>partecipazione di minoranza in capo alla Capogruppo<span class=\"_ _0\"></span>. Le <span class=\"_ _2d\"> </span>\u201cPartecipazioni <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto\u201d <span class=\"_ _2d\"> </span>comprendono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>congiunto, <span class=\"_ _2d\"> </span>nello specifico: \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _23\"></span>46<span class=\"_ _0\"></span><span class=\"lsd\">.5</span>24 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>relativi <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipazione <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>50% <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _23\"></span>nella <span class=\"_ _28\"></span>KMD <span class=\"_ _28\"></span>(HK)<span class=\"_ _0\"></span> </span></span>Holding Ltd. <span class=\"_ _29\"></span>costituita nel <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>14 insieme <span class=\"_ _29\"></span>ad un <span class=\"_ _2b\"></span>partner. KMD \u00e8 <span class=\"_ _29\"></span>un'azienda indipendente ed <span class=\"_ _2b\"></span>\u00e8 gestita in modo indipendente e che produce principalmente pr<span class=\"_ _0\"></span>odotti di stampaggio <span class=\"_ _0\"></span>nel settore Copper; \u2022 <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _28\"></span>29<span class=\"_ _0\"></span>.257 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>partecipazione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>45% <span class=\"_ _2d\"> </span>da <span class=\"_ _28\"></span>parte <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"> </span>SE <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>n <span class=\"_ _2c\"></span>Magnet <span class=\"_ _2c\"></span>Joint <span class=\"_ _2c\"></span>Venture </span>GmbH. Tale <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>\u00e8 stata <span class=\"_ _0\"></span><span class=\"ff5d\">acquisita nell\u2019ambito <span class=\"_ _0\"></span>degli accordi <span class=\"_ _0\"></span>con Parago<span class=\"_ _0\"></span>n relativi <span class=\"_ _0\"></span>alla cessione <span class=\"_ _0\"></span>del </span>controllo del <span class=\"_ _0\"></span>Business <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>Speciali. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>valorizzazion<span class=\"_ _0\"></span>e includ<span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>aggiustamenti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> al momento dell'acquisizione. Tali <span class=\"_ _2b\"></span>partecipazioni, nel<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>complesso<span class=\"lsb\">, <span class=\"_ _2b\"></span><span class=\"ls0\">neg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>otto <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>saldi <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Bilancio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Consolidato<span class=\"_ _0\"></span>, </span></span>hanno contribuito negativamente al risul<span class=\"_ _0\"></span>tato del Gruppo.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__93": {
   "value": "4.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Partecipazioni (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Partecipazioni in controllate  23.281  620.201  (596.920) Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405  16.922  483  Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654   -<span class=\"lsd\">  </span> 76.654  Partecipazioni 117.340  637.123  (519.783) Di <span class=\"_ _2c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"> </span>movimentazione <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>nella <span class=\"_ _2c\"> </span>voce <span class=\"_ _2d\"> </span>\u201cValutazioni <span class=\"_ _2d\"> </span>attive <span class=\"_ _2d\"> </span><span class=\"ff5a\">Fair </span>Value<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>accogl<span class=\"_ _0\"></span>ie <span class=\"_ _2b\"></span>l\u2019effetto<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>della valutazione <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">di <span class=\"_ _2b\"></span>CULTI <span class=\"_ _2b\"></span>Milano con <span class=\"_ _2b\"></span>l\u2019iscrizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>effetto positivo </span></span></span></span></span>pari <span class=\"_ _46\"> </span>ad <span class=\"_ _3b\"> </span>Euro <span class=\"_ _46\"> </span>9.078 <span class=\"_ _3b\"> </span>migliaia <span class=\"_ _46\"> </span>(avente <span class=\"_ _3b\"> </span>impatto <span class=\"_ _46\"> </span>a <span class=\"_ _46\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _46\"> </span>economico<span class=\"ff5d\">, <span class=\"_ _3b\"> </span>confluito <span class=\"_ _46\"> </span>nella <span class=\"_ _46\"> </span>voce <span class=\"_ _3b\"> </span>\u201cRisultato </span>partecipazioni\u201d<span class=\"ff56\">); <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>valutazione <span class=\"_ _22\"></span>recepisce <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>partecipata <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cambio <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> </span>\u201centit\u00e0 di investimento\u201d. <span class=\"ff56\"> </span>Gli <span class=\"_ _22\"></span>incrementi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _22\"></span>rappresentati, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>658 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>partecipazione <span class=\"_ _23\"></span>in Oasi <span class=\"_ _2b\"></span>Dynamo <span class=\"_ _2b\"></span>Fo<span class=\"_ _0\"></span>odCo <span class=\"_ _2b\"></span>S.r.l. <span class=\"_ _2b\"></span>incrementata <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>400 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>258 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ff5d\">per <span class=\"_ _29\"></span>l\u2019acquisizione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>KME </span>Middle East FZE, partecipazione inclusa nel ramo <span class=\"_ _0\"></span>d'azienda acquisito<span class=\"_ _0\"></span> da Aurubis. Partecipazioni Partecipazioni Partecipazioni (in migliaia di Euro) a patrimonio Totale in controllate in altre imprese netto Totale al 31 dicembre 2021 620.201  16.922   -<span class=\"lsd\">  </span> 637.123  Incrementi 10   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 10  Valutazioni attive <span class=\"ff5a\">Fair Value</span> 9.078   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 9.078  Totale al 30 aprile 2022 629.289  16.922   -<span class=\"lsd\">  </span> 646.211  Variazione per Entit\u00e0 di <span class=\"_ _29\"></span>Investimento (616.292)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (616.292) Variazione area di consolida<span class=\"_ _29\"></span>mento IFRS 10 9.751  478  98.902  109.131  Incrementi 658  5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 663  Effetto cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.174) (2.174) Variazioni PPA (50)  -<span class=\"lsd\">  </span> (11.134) (11.184) Decrementi (75)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (75) Riclassifiche  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Quota utili/perdite a conto ec<span class=\"_ _29\"></span>onomico  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.285) (10.285) Quote a patrimonio netto  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.345  1.345  Totale al 31 dicembre 2022 23.281  17.405  76.654  117.340  Il dettaglio della voce al 31 dicembre 2022 \u00e8 il <span class=\"_ _0\"></span>seguente: % di % di Sede Denominazione  possesso al possesso al 31/12/2022 31/12/2021 legale 31/12/2022 31/12/2022 (in migliaia di diretta indiretta (in migliaia di Euro) Euro) KME SE Germania 10% 89,00%  -<span class=\"lsf\">  </span> 578.300  CULTI Milano SpA Italia 77,17% -  -<span class=\"lsf\">  </span> 28.904  Intek Investimenti SpA Italia 100% - 11.200  11.200  KME Germany Bet. GmbH Germania - 100,00% 1.707  1.700  KME Metale Sp. z o.o. Polonia - 99,00% 3.498   -<span class=\"lsf\">  </span> KME ( Suisse ) S.A. Svizzera - 99,00% 1.138   -<span class=\"lsf\">  </span> Oasi Dynamo Societa Agricola S.r.l. Italia - 82,64% 4.910   -<span class=\"lsf\">  </span> - 400   - Oasi Dynamo Foodco Srl Italia 82,64% Altre soc. afferenti al gruppo KME SE n.a. n.a. 388  - Altre societ\u00e0 afferenti alla Capogruppo n.a. n.a. 40 97 Partecipazioni in controllate 23.281  620.201  Ducati Energia SpA Italia 6,77% - 16.700  16.700  Vita Societ\u00e0 Editoriale SpA Italia 13,22% - 222  222  Metal Interconnector ScpA Italia - 0,36% 318   -<span class=\"lsf\">  </span> Altre minori n.a. n.a. 165   -<span class=\"lsf\">  </span> Partecipazioni in altre imprese 17.405  16.922  Hong 46.524   -<span class=\"lsf\">  </span> KMD (HK) Holding Limited Kong - 49,50% Azienda Metalli Laminati S.p.A. Italia - 23,96% 68   -<span class=\"lsf\">  </span> Dynamo Academy S.r.l. Italia - 24,75% 805   -<span class=\"lsf\">  </span> Magnet Joint Venture Gmbh Germania - 44,55% 29.257   -<span class=\"lsf\">  </span> Partecipazioni a patrimonio netto 76.654   -<span class=\"lsf\">  </span> Partecipazioni 117.340  637.123  La vo<span class=\"_ _0\"></span>ce \u201cPart<span class=\"_ _0\"></span>ecipazioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>altre <span class=\"_ _0\"></span>imprese\u201d <span class=\"_ _0\"></span>accoglie <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>Ducati <span class=\"_ _0\"></span>En<span class=\"_ _0\"></span>ergia <span class=\"_ _0\"></span>SpA, <span class=\"_ _0\"></span>partecipazione di minoranza in capo alla Capogruppo<span class=\"_ _0\"></span>. Le <span class=\"_ _2d\"> </span>\u201cPartecipazioni <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto\u201d <span class=\"_ _2d\"> </span>comprendono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>congiunto, <span class=\"_ _2d\"> </span>nello specifico: \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _23\"></span>46<span class=\"_ _0\"></span><span class=\"lsd\">.5</span>24 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>relativi <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipazione <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>50% <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _23\"></span>nella <span class=\"_ _28\"></span>KMD <span class=\"_ _28\"></span>(HK)<span class=\"_ _0\"></span> </span></span>Holding Ltd. <span class=\"_ _29\"></span>costituita nel <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>14 insieme <span class=\"_ _29\"></span>ad un <span class=\"_ _2b\"></span>partner. KMD \u00e8 <span class=\"_ _29\"></span>un'azienda indipendente ed <span class=\"_ _2b\"></span>\u00e8 gestita in modo indipendente e che produce principalmente pr<span class=\"_ _0\"></span>odotti di stampaggio <span class=\"_ _0\"></span>nel settore Copper; \u2022 <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _28\"></span>29<span class=\"_ _0\"></span>.257 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>partecipazione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>45% <span class=\"_ _2d\"> </span>da <span class=\"_ _28\"></span>parte <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"> </span>SE <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>n <span class=\"_ _2c\"></span>Magnet <span class=\"_ _2c\"></span>Joint <span class=\"_ _2c\"></span>Venture </span>GmbH. Tale <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>\u00e8 stata <span class=\"_ _0\"></span><span class=\"ff5d\">acquisita nell\u2019ambito <span class=\"_ _0\"></span>degli accordi <span class=\"_ _0\"></span>con Parago<span class=\"_ _0\"></span>n relativi <span class=\"_ _0\"></span>alla cessione <span class=\"_ _0\"></span>del </span>controllo del <span class=\"_ _0\"></span>Business <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>Speciali. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>valorizzazion<span class=\"_ _0\"></span>e includ<span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>aggiustamenti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> al momento dell'acquisizione. Tali <span class=\"_ _2b\"></span>partecipazioni, nel<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>complesso<span class=\"lsb\">, <span class=\"_ _2b\"></span><span class=\"ls0\">neg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>otto <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>saldi <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Bilancio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Consolidato<span class=\"_ _0\"></span>, </span></span>hanno contribuito negativamente al risul<span class=\"_ _0\"></span>tato del Gruppo.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__92": {
   "value": "4.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Partecipazioni (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Partecipazioni in controllate  23.281  620.201  (596.920) Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405  16.922  483  Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654   -<span class=\"lsd\">  </span> 76.654  Partecipazioni 117.340  637.123  (519.783) Di <span class=\"_ _2c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"> </span>movimentazione <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>nella <span class=\"_ _2c\"> </span>voce <span class=\"_ _2d\"> </span>\u201cValutazioni <span class=\"_ _2d\"> </span>attive <span class=\"_ _2d\"> </span><span class=\"ff5a\">Fair </span>Value<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>accogl<span class=\"_ _0\"></span>ie <span class=\"_ _2b\"></span>l\u2019effetto<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>della valutazione <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">di <span class=\"_ _2b\"></span>CULTI <span class=\"_ _2b\"></span>Milano con <span class=\"_ _2b\"></span>l\u2019iscrizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>effetto positivo </span></span></span></span></span>pari <span class=\"_ _46\"> </span>ad <span class=\"_ _3b\"> </span>Euro <span class=\"_ _46\"> </span>9.078 <span class=\"_ _3b\"> </span>migliaia <span class=\"_ _46\"> </span>(avente <span class=\"_ _3b\"> </span>impatto <span class=\"_ _46\"> </span>a <span class=\"_ _46\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _46\"> </span>economico<span class=\"ff5d\">, <span class=\"_ _3b\"> </span>confluito <span class=\"_ _46\"> </span>nella <span class=\"_ _46\"> </span>voce <span class=\"_ _3b\"> </span>\u201cRisultato </span>partecipazioni\u201d<span class=\"ff56\">); <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>valutazione <span class=\"_ _22\"></span>recepisce <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>partecipata <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cambio <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> </span>\u201centit\u00e0 di investimento\u201d. <span class=\"ff56\"> </span>Gli <span class=\"_ _22\"></span>incrementi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _22\"></span>rappresentati, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>658 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>partecipazione <span class=\"_ _23\"></span>in Oasi <span class=\"_ _2b\"></span>Dynamo <span class=\"_ _2b\"></span>Fo<span class=\"_ _0\"></span>odCo <span class=\"_ _2b\"></span>S.r.l. <span class=\"_ _2b\"></span>incrementata <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>400 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>258 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ff5d\">per <span class=\"_ _29\"></span>l\u2019acquisizione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>KME </span>Middle East FZE, partecipazione inclusa nel ramo <span class=\"_ _0\"></span>d'azienda acquisito<span class=\"_ _0\"></span> da Aurubis. Partecipazioni Partecipazioni Partecipazioni (in migliaia di Euro) a patrimonio Totale in controllate in altre imprese netto Totale al 31 dicembre 2021 620.201  16.922   -<span class=\"lsd\">  </span> 637.123  Incrementi 10   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 10  Valutazioni attive <span class=\"ff5a\">Fair Value</span> 9.078   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 9.078  Totale al 30 aprile 2022 629.289  16.922   -<span class=\"lsd\">  </span> 646.211  Variazione per Entit\u00e0 di <span class=\"_ _29\"></span>Investimento (616.292)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (616.292) Variazione area di consolida<span class=\"_ _29\"></span>mento IFRS 10 9.751  478  98.902  109.131  Incrementi 658  5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 663  Effetto cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.174) (2.174) Variazioni PPA (50)  -<span class=\"lsd\">  </span> (11.134) (11.184) Decrementi (75)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (75) Riclassifiche  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Quota utili/perdite a conto ec<span class=\"_ _29\"></span>onomico  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.285) (10.285) Quote a patrimonio netto  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.345  1.345  Totale al 31 dicembre 2022 23.281  17.405  76.654  117.340  Il dettaglio della voce al 31 dicembre 2022 \u00e8 il <span class=\"_ _0\"></span>seguente: % di % di Sede Denominazione  possesso al possesso al 31/12/2022 31/12/2021 legale 31/12/2022 31/12/2022 (in migliaia di diretta indiretta (in migliaia di Euro) Euro) KME SE Germania 10% 89,00%  -<span class=\"lsf\">  </span> 578.300  CULTI Milano SpA Italia 77,17% -  -<span class=\"lsf\">  </span> 28.904  Intek Investimenti SpA Italia 100% - 11.200  11.200  KME Germany Bet. GmbH Germania - 100,00% 1.707  1.700  KME Metale Sp. z o.o. Polonia - 99,00% 3.498   -<span class=\"lsf\">  </span> KME ( Suisse ) S.A. Svizzera - 99,00% 1.138   -<span class=\"lsf\">  </span> Oasi Dynamo Societa Agricola S.r.l. Italia - 82,64% 4.910   -<span class=\"lsf\">  </span> - 400   - Oasi Dynamo Foodco Srl Italia 82,64% Altre soc. afferenti al gruppo KME SE n.a. n.a. 388  - Altre societ\u00e0 afferenti alla Capogruppo n.a. n.a. 40 97 Partecipazioni in controllate 23.281  620.201  Ducati Energia SpA Italia 6,77% - 16.700  16.700  Vita Societ\u00e0 Editoriale SpA Italia 13,22% - 222  222  Metal Interconnector ScpA Italia - 0,36% 318   -<span class=\"lsf\">  </span> Altre minori n.a. n.a. 165   -<span class=\"lsf\">  </span> Partecipazioni in altre imprese 17.405  16.922  Hong 46.524   -<span class=\"lsf\">  </span> KMD (HK) Holding Limited Kong - 49,50% Azienda Metalli Laminati S.p.A. Italia - 23,96% 68   -<span class=\"lsf\">  </span> Dynamo Academy S.r.l. Italia - 24,75% 805   -<span class=\"lsf\">  </span> Magnet Joint Venture Gmbh Germania - 44,55% 29.257   -<span class=\"lsf\">  </span> Partecipazioni a patrimonio netto 76.654   -<span class=\"lsf\">  </span> Partecipazioni 117.340  637.123  La vo<span class=\"_ _0\"></span>ce \u201cPart<span class=\"_ _0\"></span>ecipazioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>altre <span class=\"_ _0\"></span>imprese\u201d <span class=\"_ _0\"></span>accoglie <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>Ducati <span class=\"_ _0\"></span>En<span class=\"_ _0\"></span>ergia <span class=\"_ _0\"></span>SpA, <span class=\"_ _0\"></span>partecipazione di minoranza in capo alla Capogruppo<span class=\"_ _0\"></span>. Le <span class=\"_ _2d\"> </span>\u201cPartecipazioni <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto\u201d <span class=\"_ _2d\"> </span>comprendono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>congiunto, <span class=\"_ _2d\"> </span>nello specifico: \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _23\"></span>46<span class=\"_ _0\"></span><span class=\"lsd\">.5</span>24 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>relativi <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipazione <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>50% <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _23\"></span>nella <span class=\"_ _28\"></span>KMD <span class=\"_ _28\"></span>(HK)<span class=\"_ _0\"></span> </span></span>Holding Ltd. <span class=\"_ _29\"></span>costituita nel <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>14 insieme <span class=\"_ _29\"></span>ad un <span class=\"_ _2b\"></span>partner. KMD \u00e8 <span class=\"_ _29\"></span>un'azienda indipendente ed <span class=\"_ _2b\"></span>\u00e8 gestita in modo indipendente e che produce principalmente pr<span class=\"_ _0\"></span>odotti di stampaggio <span class=\"_ _0\"></span>nel settore Copper; \u2022 <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _28\"></span>29<span class=\"_ _0\"></span>.257 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>partecipazione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>45% <span class=\"_ _2d\"> </span>da <span class=\"_ _28\"></span>parte <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"> </span>SE <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>n <span class=\"_ _2c\"></span>Magnet <span class=\"_ _2c\"></span>Joint <span class=\"_ _2c\"></span>Venture </span>GmbH. Tale <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>\u00e8 stata <span class=\"_ _0\"></span><span class=\"ff5d\">acquisita nell\u2019ambito <span class=\"_ _0\"></span>degli accordi <span class=\"_ _0\"></span>con Parago<span class=\"_ _0\"></span>n relativi <span class=\"_ _0\"></span>alla cessione <span class=\"_ _0\"></span>del </span>controllo del <span class=\"_ _0\"></span>Business <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>Speciali. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>valorizzazion<span class=\"_ _0\"></span>e includ<span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>aggiustamenti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> al momento dell'acquisizione. Tali <span class=\"_ _2b\"></span>partecipazioni, nel<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>complesso<span class=\"lsb\">, <span class=\"_ _2b\"></span><span class=\"ls0\">neg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>otto <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>saldi <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Bilancio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Consolidato<span class=\"_ _0\"></span>, </span></span>hanno contribuito negativamente al risul<span class=\"_ _0\"></span>tato del Gruppo.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__91": {
   "value": "4.4.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Partecipazioni (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Partecipazioni in controllate  23.281  620.201  (596.920) Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405  16.922  483  Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654   -<span class=\"lsd\">  </span> 76.654  Partecipazioni 117.340  637.123  (519.783) Di <span class=\"_ _2c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>si <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>la <span class=\"_ _2c\"> </span>movimentazione <span class=\"_ _2d\"> </span>dell\u2019esercizio <span class=\"_ _2c\"> </span>che <span class=\"_ _2d\"> </span>nella <span class=\"_ _2c\"> </span>voce <span class=\"_ _2d\"> </span>\u201cValutazioni <span class=\"_ _2d\"> </span>attive <span class=\"_ _2d\"> </span><span class=\"ff5a\">Fair </span>Value<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>accogl<span class=\"_ _0\"></span>ie <span class=\"_ _2b\"></span>l\u2019effetto<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>della valutazione <span class=\"_ _2b\"></span>al <span class=\"_ _29\"></span><span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> <span class=\"ff5d\">di <span class=\"_ _2b\"></span>CULTI <span class=\"_ _2b\"></span>Milano con <span class=\"_ _2b\"></span>l\u2019iscrizione <span class=\"_ _2b\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>un<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>effetto positivo </span></span></span></span></span>pari <span class=\"_ _46\"> </span>ad <span class=\"_ _3b\"> </span>Euro <span class=\"_ _46\"> </span>9.078 <span class=\"_ _3b\"> </span>migliaia <span class=\"_ _46\"> </span>(avente <span class=\"_ _3b\"> </span>impatto <span class=\"_ _46\"> </span>a <span class=\"_ _46\"> </span>con<span class=\"_ _0\"></span>to <span class=\"_ _46\"> </span>economico<span class=\"ff5d\">, <span class=\"_ _3b\"> </span>confluito <span class=\"_ _46\"> </span>nella <span class=\"_ _46\"> </span>voce <span class=\"_ _3b\"> </span>\u201cRisultato </span>partecipazioni\u201d<span class=\"ff56\">); <span class=\"_ _22\"></span>tale <span class=\"_ _22\"></span>valutazione <span class=\"_ _22\"></span>recepisce <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>della <span class=\"_ _22\"></span>partecipata <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>data <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>cambio <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>stato <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> </span>\u201centit\u00e0 di investimento\u201d. <span class=\"ff56\"> </span>Gli <span class=\"_ _22\"></span>incrementi <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _22\"></span>rappresentati, <span class=\"_ _23\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>658 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>relativi <span class=\"_ _22\"></span>alla <span class=\"_ _22\"></span>partecipazione <span class=\"_ _23\"></span>in Oasi <span class=\"_ _2b\"></span>Dynamo <span class=\"_ _2b\"></span>Fo<span class=\"_ _0\"></span>odCo <span class=\"_ _2b\"></span>S.r.l. <span class=\"_ _2b\"></span>incrementata <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>400 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span>ed <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>258 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ff5d\">per <span class=\"_ _29\"></span>l\u2019acquisizione <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>KME </span>Middle East FZE, partecipazione inclusa nel ramo <span class=\"_ _0\"></span>d'azienda acquisito<span class=\"_ _0\"></span> da Aurubis. Partecipazioni Partecipazioni Partecipazioni (in migliaia di Euro) a patrimonio Totale in controllate in altre imprese netto Totale al 31 dicembre 2021 620.201  16.922   -<span class=\"lsd\">  </span> 637.123  Incrementi 10   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 10  Valutazioni attive <span class=\"ff5a\">Fair Value</span> 9.078   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 9.078  Totale al 30 aprile 2022 629.289  16.922   -<span class=\"lsd\">  </span> 646.211  Variazione per Entit\u00e0 di <span class=\"_ _29\"></span>Investimento (616.292)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (616.292) Variazione area di consolida<span class=\"_ _29\"></span>mento IFRS 10 9.751  478  98.902  109.131  Incrementi 658  5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 663  Effetto cambio  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.174) (2.174) Variazioni PPA (50)  -<span class=\"lsd\">  </span> (11.134) (11.184) Decrementi (75)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (75) Riclassifiche  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Quota utili/perdite a conto ec<span class=\"_ _29\"></span>onomico  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.285) (10.285) Quote a patrimonio netto  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 1.345  1.345  Totale al 31 dicembre 2022 23.281  17.405  76.654  117.340  Il dettaglio della voce al 31 dicembre 2022 \u00e8 il <span class=\"_ _0\"></span>seguente: % di % di Sede Denominazione  possesso al possesso al 31/12/2022 31/12/2021 legale 31/12/2022 31/12/2022 (in migliaia di diretta indiretta (in migliaia di Euro) Euro) KME SE Germania 10% 89,00%  -<span class=\"lsf\">  </span> 578.300  CULTI Milano SpA Italia 77,17% -  -<span class=\"lsf\">  </span> 28.904  Intek Investimenti SpA Italia 100% - 11.200  11.200  KME Germany Bet. GmbH Germania - 100,00% 1.707  1.700  KME Metale Sp. z o.o. Polonia - 99,00% 3.498   -<span class=\"lsf\">  </span> KME ( Suisse ) S.A. Svizzera - 99,00% 1.138   -<span class=\"lsf\">  </span> Oasi Dynamo Societa Agricola S.r.l. Italia - 82,64% 4.910   -<span class=\"lsf\">  </span> - 400   - Oasi Dynamo Foodco Srl Italia 82,64% Altre soc. afferenti al gruppo KME SE n.a. n.a. 388  - Altre societ\u00e0 afferenti alla Capogruppo n.a. n.a. 40 97 Partecipazioni in controllate 23.281  620.201  Ducati Energia SpA Italia 6,77% - 16.700  16.700  Vita Societ\u00e0 Editoriale SpA Italia 13,22% - 222  222  Metal Interconnector ScpA Italia - 0,36% 318   -<span class=\"lsf\">  </span> Altre minori n.a. n.a. 165   -<span class=\"lsf\">  </span> Partecipazioni in altre imprese 17.405  16.922  Hong 46.524   -<span class=\"lsf\">  </span> KMD (HK) Holding Limited Kong - 49,50% Azienda Metalli Laminati S.p.A. Italia - 23,96% 68   -<span class=\"lsf\">  </span> Dynamo Academy S.r.l. Italia - 24,75% 805   -<span class=\"lsf\">  </span> Magnet Joint Venture Gmbh Germania - 44,55% 29.257   -<span class=\"lsf\">  </span> Partecipazioni a patrimonio netto 76.654   -<span class=\"lsf\">  </span> Partecipazioni 117.340  637.123  La vo<span class=\"_ _0\"></span>ce \u201cPart<span class=\"_ _0\"></span>ecipazioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>altre <span class=\"_ _0\"></span>imprese\u201d <span class=\"_ _0\"></span>accoglie <span class=\"_ _0\"></span>principalmente <span class=\"_ _0\"></span>Ducati <span class=\"_ _0\"></span>En<span class=\"_ _0\"></span>ergia <span class=\"_ _0\"></span>SpA, <span class=\"_ _0\"></span>partecipazione di minoranza in capo alla Capogruppo<span class=\"_ _0\"></span>. Le <span class=\"_ _2d\"> </span>\u201cPartecipazioni <span class=\"_ _2a\"> </span>a <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2a\"> </span>netto\u201d <span class=\"_ _2d\"> </span>comprendono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2a\"> </span>investimenti <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>controllo <span class=\"_ _2a\"> </span>congiunto, <span class=\"_ _2d\"> </span>nello specifico: \u2022<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _23\"></span>46<span class=\"_ _0\"></span><span class=\"lsd\">.5</span>24 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>relativi <span class=\"_ _28\"></span>alla <span class=\"_ _28\"></span>partecipazione <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>50% <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>KME <span class=\"_ _28\"></span>SE <span class=\"_ _23\"></span>nella <span class=\"_ _28\"></span>KMD <span class=\"_ _28\"></span>(HK)<span class=\"_ _0\"></span> </span></span>Holding Ltd. <span class=\"_ _29\"></span>costituita nel <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>14 insieme <span class=\"_ _29\"></span>ad un <span class=\"_ _2b\"></span>partner. KMD \u00e8 <span class=\"_ _29\"></span>un'azienda indipendente ed <span class=\"_ _2b\"></span>\u00e8 gestita in modo indipendente e che produce principalmente pr<span class=\"_ _0\"></span>odotti di stampaggio <span class=\"_ _0\"></span>nel settore Copper; \u2022 <span class=\"_ _30\"> </span><span class=\"ff56\">Euro <span class=\"_ _28\"></span>29<span class=\"_ _0\"></span>.257 <span class=\"_ _2c\"></span>migliaia <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"></span>partecipazione <span class=\"_ _2c\"> </span>del <span class=\"_ _2c\"> </span>45% <span class=\"_ _2d\"> </span>da <span class=\"_ _28\"></span>parte <span class=\"_ _2c\"></span>di <span class=\"_ _2c\"></span>KME <span class=\"_ _2c\"> </span>SE <span class=\"_ _2d\"> </span>i<span class=\"_ _29\"></span>n <span class=\"_ _2c\"></span>Magnet <span class=\"_ _2c\"></span>Joint <span class=\"_ _2c\"></span>Venture </span>GmbH. Tale <span class=\"_ _0\"></span>quota <span class=\"_ _0\"></span>\u00e8 stata <span class=\"_ _0\"></span><span class=\"ff5d\">acquisita nell\u2019ambito <span class=\"_ _0\"></span>degli accordi <span class=\"_ _0\"></span>con Parago<span class=\"_ _0\"></span>n relativi <span class=\"_ _0\"></span>alla cessione <span class=\"_ _0\"></span>del </span>controllo del <span class=\"_ _0\"></span>Business <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>Speciali. <span class=\"_ _0\"></span>Questa <span class=\"_ _0\"></span>valorizzazion<span class=\"_ _0\"></span>e includ<span class=\"_ _0\"></span>e gli <span class=\"_ _0\"></span>aggiustamenti <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span><span class=\"ff5a\">fair <span class=\"_ _0\"></span>value</span> al momento dell'acquisizione. Tali <span class=\"_ _2b\"></span>partecipazioni, nel<span class=\"_ _29\"></span> <span class=\"_ _2b\"></span>complesso<span class=\"lsb\">, <span class=\"_ _2b\"></span><span class=\"ls0\">neg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>otto <span class=\"_ _29\"></span>mesi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>consolidamento<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>nei <span class=\"_ _29\"></span>saldi <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>Bilancio<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>Consolidato<span class=\"_ _0\"></span>, </span></span>hanno contribuito negativamente al risul<span class=\"_ _0\"></span>tato del Gruppo.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__99-1": {
   "value": "4.5.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Altre attivit\u00e0 non correnti Il contenuto della voce \u00e8 il seguente: (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Depositi cauzionali 877  3 <span class=\"ls0\"> </span>874  Altri crediti 2.229   -<span class=\"lsd\">  </span> 2.229  Altre attivit\u00e0 non correnti 3.106  3 <span class=\"ls0\"> </span>3.1034.9.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Attivit\u00e0 finanziarie correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti finanziari verso c<span class=\"_ _29\"></span>orrelate 71.613  832  70.781  Crediti verso soc. factoring 23.422   -<span class=\"lsd\">  </span> 23.422  Crediti per commissioni s<span class=\"_ _29\"></span>u garanzie rilasciate  -<span class=\"lsd\">  </span> 235  (235) Strumenti finanziari deri<span class=\"_ _29\"></span>vati 10.967   -<span class=\"lsd\">  </span> 10.967  Investimenti in titoli 272  257  15  Altre attivit\u00e0 finanziarie co<span class=\"_ _29\"></span>rrenti 3.827  25.120  (21.293) Attivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> 110.101  26.444  83.657  I <span class=\"_ _2f\"> </span>\u201c<span class=\"ff5a\">Crediti <span class=\"_ _2f\"> </span>finan<span class=\"_ _0\"></span>ziari <span class=\"_ _2f\"> </span>verso <span class=\"_ _2f\"> </span>correlate<span class=\"_ _0\"></span></span><span class=\"ls6\">\u201d <span class=\"_ _2f\"> </span></span><span class=\"ff56\">al <span class=\"_ _2f\"> </span>31 <span class=\"_ _41\"> </span>dicembre <span class=\"_ _2f\"> </span>2022 <span class=\"_ _2f\"> </span>sono <span class=\"_ _41\"> </span>sostanzialmente <span class=\"_ _2f\"> </span>affe<span class=\"_ _0\"></span>renti <span class=\"_ _2f\"> </span>alle </span>partecipazioni a patrimonio netto<span class=\"_ _0\"></span>. I \u201c<span class=\"ff5a\">Crediti <span class=\"_ _29\"></span>verso soc. <span class=\"_ _29\"></span>factoring<span class=\"ff5d\">\u201d<span class=\"ff56\"> </span>sono afferenti <span class=\"_ _29\"></span>al gruppo <span class=\"_ _29\"></span>KME SE <span class=\"_ _29\"></span>e in <span class=\"_ _29\"></span>particolare all\u2019importo <span class=\"_ _29\"></span>dei crediti </span></span>commerciali ceduti secondo operazioni <span class=\"_ _29\"></span>di factoring pro <span class=\"_ _29\"></span>soluto, come <span class=\"_ _29\"></span>precedentemente indicato nel comme<span class=\"_ _29\"></span>nto alla <span class=\"_ _0\"></span>voce <span class=\"_ _0\"></span>\u201ccrediti <span class=\"_ _0\"></span>commerciali\u201d. <span class=\"_ _22\"></span><span class=\"ff56\">Tale <span class=\"_ _0\"></span>importo <span class=\"_ _22\"></span>si riferisce <span class=\"_ _22\"></span>a crediti <span class=\"_ _22\"></span>commerciali <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>beni <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>servizi <span class=\"_ _0\"></span>gi\u00e0 <span class=\"_ _22\"></span>ceduti <span class=\"_ _0\"></span>e </span>non <span class=\"_ _29\"></span>pagati <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>data di <span class=\"_ _29\"></span>chiusura <span class=\"_ _2b\"></span>del Bilancio <span class=\"_ _2b\"></span>Con<span class=\"_ _0\"></span>solidato. L'importo <span class=\"_ _2b\"></span>di Euro <span class=\"_ _2b\"></span>23.422 migliaia <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>posto <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>garanzia<span class=\"_ _0\"></span> per le passivit\u00e0 finanziarie in essere.<span class=\"_ _0\"></span> I <span class=\"_ _2d\"> </span>\u201cCrediti <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>commissioni <span class=\"_ _2d\"> </span>su <span class=\"_ _2d\"> </span>garanzie\u201d <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2d\"> </span>dicembre <span class=\"_ _2d\"> </span>2021 <span class=\"_ _2d\"> </span>rappresenta<span class=\"ls1\">va</span><span class=\"ff5d\">no <span class=\"_ _2d\"> </span>l\u2019ammontare <span class=\"_ _2d\"> </span>delle </span>commissioni <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>percepire <span class=\"_ _2d\"> </span>entro<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>i <span class=\"_ _2d\"> </span>12 <span class=\"_ _2d\"> </span>m<span class=\"_ _0\"></span>esi <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>garanzie <span class=\"_ _2a\"> </span>prestate <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>Capogruppo <span class=\"_ _2a\"> </span>su <span class=\"_ _2d\"> </span>finanziamenti <span class=\"_ _2d\"> </span><span class=\"ls3\">e </span>affidamenti ottenuti da societ\u00e0 controllate in particolare KME<span class=\"_ _0\"></span> SE, a favore degli istituti di credito finanziatori e <span class=\"_ _29\"></span>nell\u2019inter<span class=\"ff56\">esse delle <span class=\"_ _2b\"></span>predette societ\u00e0. <span class=\"_ _29\"></span>A <span class=\"_ _29\"></span>tali <span class=\"_ _29\"></span>crediti <span class=\"_ _29\"></span>corrispondevano debiti <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>pari <span class=\"_ _29\"></span>importo. Nel <span class=\"_ _2b\"></span>2022 tale <span class=\"_ _29\"></span>posta </span>risulta azzerat<span class=\"ff5d\">a in quanto le garanzie son<span class=\"_ _0\"></span>o prestate a favore di imprese incluse nel<span class=\"_ _0\"></span>l\u2019area di consolidamento<span class=\"_ _0\"></span></span>. La <span class=\"_ _2d\"> </span>voce <span class=\"_ _2d\"> </span>\u201cAltre <span class=\"_ _2c\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span><span class=\"ff5a\">finanziarie <span class=\"_ _2d\"> </span>correnti<span class=\"ff5d ls3\">\u201d <span class=\"_ _2d\"> </span></span></span>al <span class=\"_ _2d\"> </span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _2d\"> </span>2021 <span class=\"_ _2d\"> </span>comprende<span class=\"ls1\">va</span> <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span><span class=\"ls1\">un </span>deposito oggetto <span class=\"_ _29\"></span>di pegno <span class=\"_ _29\"></span>a <span class=\"_ _29\"></span>garanzia della <span class=\"_ _29\"></span>linea di <span class=\"_ _2b\"></span>credi<span class=\"_ _0\"></span>to in <span class=\"_ _29\"></span>essere con <span class=\"_ _2b\"></span>Banco BPM SpA rimodulato <span class=\"ls3\">a </span>giugno 2022. Gli <span class=\"_ _23\"></span>\u201c<span class=\"ff5a\">Strumenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _23\"></span>derivat<span class=\"_ _0\"></span>i</span>\u201d <span class=\"_ _23\"></span>acco<span class=\"_ _0\"></span>lgono <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _28\"></span>dei <span class=\"_ _23\"></span>deriva<span class=\"_ _0\"></span><span class=\"ff56\">ti <span class=\"_ _28\"></span>in <span class=\"_ _23\"></span>capo <span class=\"_ _28\"></span>al <span class=\"_ _23\"></span>gruppo <span class=\"_ _28\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _28\"></span>e </span>comprendono <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>impegni <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>vendi<span class=\"_ _0\"></span>ta <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>acquisto <span class=\"_ _23\"></span>dei <span class=\"_ _0\"></span>con<span class=\"_ _0\"></span>tratti <span class=\"_ _22\"></span>LME <span class=\"_ _23\"></span>(<span class=\"ff5a\">Lond<span class=\"_ _0\"></span>on <span class=\"_ _22\"></span>Metal <span class=\"_ _22\"></span>Excha<span class=\"_ _0\"></span>nge</span>) <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>contratti<span class=\"_ _0\"></span> forward su cambi. Tra le \u201c<span class=\"ff5a\">Altre attivit\u00e0 finanziarie correnti</span>\u201d al 31 dicembre 2022 \u00e8 iscritto <span class=\"_ _29\"></span>un importo di Euro 1,3 mili<span class=\"ff56\">oni </span>relativo vantato nei confronti di una societ\u00e0 d<span class=\"_ _0\"></span>i assicurazione.<span class=\"_ _0\"></span> In <span class=\"_ _29\"></span>riferimento <span class=\"_ _2b\"></span>a quanto <span class=\"_ _2b\"></span>indicato da <span class=\"_ _2b\"></span>Consob con <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>Comunicazione <span class=\"_ _2b\"></span>n. DEM/11070007 <span class=\"_ _2b\"></span>del 5 <span class=\"_ _2b\"></span>agosto 2011, che <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>ripreso <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>documento <span class=\"_ _0\"></span>emesso <span class=\"_ _0\"></span>dall'<span class=\"_ _0\"></span><span class=\"ff5a\">European <span class=\"_ _0\"></span>Securities <span class=\"_ _22\"></span>and <span class=\"_ _0\"></span>Markets <span class=\"_ _0\"></span>Authority <span class=\"_ _22\"></span></span>(ESMA),<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>segnala <span class=\"_ _0\"></span>che il Gruppo non ha investimenti in tit<span class=\"_ _0\"></span>oli di debito sovrano.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__98": {
   "value": "4.5.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Altre attivit\u00e0 non correnti Il contenuto della voce \u00e8 il seguente: (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Depositi cauzionali 877  3 <span class=\"ls0\"> </span>874  Altri crediti 2.229   -<span class=\"lsd\">  </span> 2.229  Altre attivit\u00e0 non correnti 3.106  3 <span class=\"ls0\"> </span>3.103",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__100": {
   "value": "4.7.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span>Rimanenze (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Materie prime, sussidiarie e <span class=\"_ _29\"></span>di consumo 363.839  363.839  Prodotti in corso di lavorazione e semil<span class=\"_ _29\"></span>avorati 17.438   -<span class=\"lsd\">  </span> 17.438  Prodotti finiti e merci 23.626   -<span class=\"lsd\">  </span> 23.626  Rimanenze 404.903   -<span class=\"lsd\">  </span> 404.903  La voce include <span class=\"_ _29\"></span>principalmente i saldi <span class=\"_ _29\"></span>del settore <span class=\"_ _29\"></span>rame (Euro 399.330 migliaia), <span class=\"_ _29\"></span>relativi principalmente alle <span class=\"_ _2f\"> </span>giacenze<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>metalli <span class=\"_ _41\"> </span>in <span class=\"_ _41\"> </span>particolare<span class=\"_ _0\"></span> <span class=\"_ _41\"> </span>rame, <span class=\"_ _41\"> </span>alluminio, <span class=\"_ _41\"> </span>nichel, <span class=\"_ _41\"> </span>zinco, <span class=\"_ _41\"> </span>stagno, <span class=\"_ _41\"> </span>rottami <span class=\"_ _2f\"> </span>e <span class=\"_ _41\"> </span>altri <span class=\"_ _41\"> </span>metalli (Euro 345.558 migliaia); la restante parte \u00e8 relativ<span class=\"_ _0\"></span>a al gruppo CULTI<span class=\"_ _0\"></span> (Euro 5.573 migliaia). Si <span class=\"_ _0\"></span>evidenzia che <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>dicembre 20<span class=\"_ _0\"></span>22 <span class=\"_ _0\"></span>43,02 <span class=\"_ _0\"></span>mila <span class=\"_ _0\"></span>tonnellate <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>rimanenze <span class=\"_ _0\"></span>sono costitu<span class=\"_ _0\"></span>ite <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>garanzia di<span class=\"_ _0\"></span> passivit\u00e0 <span class=\"_ _2d\"> </span>finanziarie. <span class=\"_ _2c\"></span>L'importo<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>totale <span class=\"_ _2c\"></span>delle <span class=\"_ _2d\"> </span>rimanenze <span class=\"_ _2c\"> </span>compren<span class=\"_ _0\"></span>de <span class=\"_ _2d\"> </span>Euro <span class=\"_ _2c\"> </span>57,5 <span class=\"_ _2d\"> </span>milioni <span class=\"_ _2d\"> </span>come <span class=\"_ _2c\"></span>incremento <span class=\"_ _2d\"> </span>in relazione all'attivit\u00e0 acquisita da Aurubis<span class=\"_ _0\"></span> nel secondo semestre 2022<span class=\"_ _0\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__101-1": {
   "value": "4.8.<span class=\"ff5f\"> <span class=\"_ _2d\"> </span></span><span class=\"ls18\">Cr</span>editi commerciali (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti verso clienti t<span class=\"_ _29\"></span>erzi 79.197   -<span class=\"lsd\">  </span> 79.197  Crediti per <span class=\"ff5a\">factoring/leasing</span> 1.491  2.987  (1.496) Crediti verso controllante 151  89  62  Crediti verso societ\u00e0 non consoli<span class=\"_ _29\"></span>date 4.646  1.963  2.683  Crediti verso entit\u00e0 a patrim<span class=\"_ _29\"></span>onio netto 9.874   -<span class=\"lsd\">  </span> 9.874  Crediti commerciali 95.359  5.039  90.320  I <span class=\"_ _2b\"></span>\u201c<span class=\"ff5a\">Crediti da <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _2b\"></span>di leasing <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>di factoring<span class=\"ff5d\">\u201d <span class=\"_ _2b\"></span>sono ra<span class=\"_ _29\"></span>ppresentati <span class=\"_ _2b\"></span>dal valore <span class=\"_ _2b\"></span>netto <span class=\"_ _2b\"></span>dei <span class=\"ff56\">crediti <span class=\"_ _2b\"></span>non <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span><span class=\"ff5a\">bonis </span></span></span></span>in <span class=\"_ _22\"></span>capo<span class=\"ff5a\"> <span class=\"_ _23\"></span></span>alla <span class=\"_ _22\"></span>Capogruppo <span class=\"_ _22\"></span>(<span class=\"ff5d\">relativi <span class=\"_ _23\"></span>all\u2019attivit\u00e0 <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>precedenza <span class=\"_ _22\"></span>condotta <span class=\"_ _23\"></span>da <span class=\"_ _22\"></span>Fime <span class=\"_ _22\"></span>Leasing <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>Fime <span class=\"_ _22\"></span>Factoring<span class=\"_ _0\"></span></span>). <span class=\"_ _23\"></span>La loro <span class=\"_ _0\"></span>variazione <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>determinata <span class=\"_ _22\"></span>da <span class=\"_ _0\"></span>incassi <span class=\"_ _22\"></span><span class=\"ff5d\">dell\u2019<span class=\"_ _0\"></span>esercizio</span> <span class=\"_ _22\"></span><span class=\"ff5d\">e <span class=\"_ _0\"></span>dall\u2019effetto <span class=\"_ _22\"></span>attualizzazion</span>e <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _0\"></span>al<span class=\"_ _0\"></span>la <span class=\"_ _0\"></span>previsione <span class=\"_ _22\"></span>di recupero dei relativi flussi finanziari <span class=\"_ _0\"></span>(a marzo 2023 sono stati incassi E<span class=\"_ _0\"></span>uro 600 migliaia). I <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Crediti <span class=\"_ _29\"></span><span class=\"ff5e\">verso <span class=\"_ _29\"></span>clienti <span class=\"_ _29\"></span>terzi\u201d <span class=\"ff56\">sono <span class=\"_ _2b\"></span>relativi per <span class=\"_ _2b\"></span>circa Euro <span class=\"_ _29\"></span>75<span class=\"lsb\">,0</span> <span class=\"_ _29\"></span>milioni <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>gruppo <span class=\"_ _2b\"></span>KME SE <span class=\"_ _29\"></span>e <span class=\"_ _29\"></span>per <span class=\"_ _29\"></span>Euro <span class=\"_ _29\"></span>4<span class=\"lsd\">,1</span> </span></span></span>milioni circa al gruppo CULT<span class=\"ls7\">I.</span> Si <span class=\"_ _23\"></span>evidenzia <span class=\"_ _22\"></span>che, <span class=\"_ _23\"></span>nell\u2019ambito <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>suo <span class=\"_ _23\"></span>programma <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span><span class=\"ff5a\">factoring<span class=\"ff56\">, <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>gruppo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>SE <span class=\"_ _23\"></span>cede <span class=\"_ _22\"></span>r<span class=\"_ _0\"></span>egolarmente </span></span>crediti <span class=\"_ _2b\"></span>commerciali <span class=\"_ _29\"></span>con <span class=\"_ _2b\"></span>operazioni <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>factoring <span class=\"_ _2b\"></span>pro <span class=\"_ _29\"></span>soluto <span class=\"_ _2b\"></span>(cessione <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>rischio <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>capo <span class=\"_ _29\"></span>alla <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>factorin<span class=\"_ _0\"></span>g, mantenendo <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _23\"></span>associato <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>validit\u00e0 <span class=\"_ _23\"></span>legale <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>crediti; <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>tale <span class=\"_ _23\"></span>contesto, <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>conformit\u00e0 <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>l'IFRS <span class=\"_ _23\"></span>9, vengono <span class=\"_ _23\"></span>cancellati <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>crediti <span class=\"_ _23\"></span>ceduti <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>si <span class=\"_ _22\"></span>rileva <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>credito <span class=\"_ _22\"></span>nei <span class=\"_ _23\"></span>confronti <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>factoring <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>lo <span class=\"_ _22\"></span>stesso<span class=\"_ _0\"></span> importo <span class=\"_ _2b\"></span>fino <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>ricevimento <span class=\"_ _2b\"></span>del <span class=\"_ _2b\"></span>pagamento. <span class=\"_ _2b\"></span>Al <span class=\"_ _2b\"></span>31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _3d\"></span>20<span class=\"_ _0\"></span>22 <span class=\"_ _2b\"></span>i <span class=\"_ _2b\"></span>crediti <span class=\"_ _2b\"></span>verso <span class=\"_ _2b\"></span>societ\u00e0 <span class=\"_ _3d\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span><span class=\"ff5a\">factoring<span class=\"ff56\"> <span class=\"_ _2b\"></span>ammontano </span></span>ad Euro 23.422 migliaia e sono <span class=\"_ _0\"></span>inclusi <span class=\"ff5d\">nella voce \u201cattivit\u00e0 finanziarie correnti\u201d.<span class=\"_ _0\"></span></span> Oltre <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span><span class=\"ff5a\">factoring<span class=\"_ _0\"></span></span> <span class=\"_ _2d\"> </span>pro <span class=\"_ _2d\"> </span>soluto, <span class=\"_ _2a\"> </span>il <span class=\"_ _2d\"> </span>gruppo <span class=\"_ _2d\"> </span>KME <span class=\"_ _2d\"> </span>SE <span class=\"_ _2a\"> </span>cede <span class=\"_ _2d\"> </span>anche <span class=\"_ _2d\"> </span>crediti <span class=\"_ _2d\"> </span>nell'ambito <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>factoring <span class=\"_ _2d\"> </span>pro solvendo. <span class=\"_ _2c\"></span>In <span class=\"_ _2c\"></span>tale <span class=\"_ _28\"></span>caso, <span class=\"_ _2c\"></span>i <span class=\"_ _2c\"></span>crediti, <span class=\"_ _2c\"></span>a <span class=\"_ _2c\"></span>differenza <span class=\"_ _28\"></span>del <span class=\"_ _2d\"> </span><span class=\"ff5a\">factoring</span> <span class=\"_ _28\"></span>pro <span class=\"_ _2c\"></span>soluto, <span class=\"_ _2c\"></span>non <span class=\"_ _2c\"></span>vengono <span class=\"_ _2c\"> </span>cancellati <span class=\"_ _2c\"></span>dal <span class=\"_ _2c\"></span>proprio bilancio <span class=\"_ _2d\"> </span><span class=\"ls15\">ma</span> <span class=\"_ _2d\"> </span>rimangono <span class=\"_ _2a\"> </span>invariati <span class=\"_ _2d\"> </span>come <span class=\"_ _2d\"> </span>crediti <span class=\"_ _2d\"> </span>verso <span class=\"_ _2d\"> </span>i <span class=\"_ _2d\"> </span>clienti. <span class=\"_ _2d\"> </span>Il <span class=\"_ _2d\"> </span>corrispettivo <span class=\"_ _2d\"> </span>della <span class=\"_\"> </span>societ\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>factoring <span class=\"_ _2d\"> </span>\u00e8 registrato tra le passivit\u00e0 finanziarie a breve termine.<span class=\"_ _0\"></span> Una <span class=\"_ _2b\"></span>parte <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>crediti <span class=\"_ _29\"></span>commerciali <span class=\"_ _2b\"></span>pari <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>Euro <span class=\"_ _29\"></span>34.066 <span class=\"_ _2b\"></span>migliaia <span class=\"_ _2b\"></span><span class=\"ls6\">\u00e8 <span class=\"_ _2b\"></span><span class=\"ls0\">data <span class=\"_ _2b\"></span><span class=\"ls3\">a <span class=\"_ _2b\"></span><span class=\"ls0\">garanzia <span class=\"_ _2b\"></span>d<span class=\"_ _0\"></span>elle <span class=\"_ _2b\"></span>passivit\u00e0 <span class=\"_ _2b\"></span>finanziarie<span class=\"_ _0\"></span> </span></span></span></span>in essere<span class=\"lsb\">. </span> Con <span class=\"_ _0\"></span>riferiment<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>ai <span class=\"_ _0\"></span>crediti <span class=\"_ _22\"></span>verso <span class=\"_ _22\"></span>clienti, <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>scaduti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>pi\u00f9 <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>120 <span class=\"_ _0\"></span>giorni <span class=\"_ _22\"></span>rappresentano <span class=\"_ _22\"></span>circa <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>17% <span class=\"_ _22\"></span>del valore lordo.4.10.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altri crediti ed attivit\u00e0 correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti tributari 11.588  643  10.945  Anticipi a fornitori 1.585   -<span class=\"lsd\">  </span> 1.585  Ratei e risconti attivi 1.845  109  1.736  Crediti verso imprese correla<span class=\"_ _29\"></span>te 77  2.495  (2.418) Altri crediti 1.580  2.433  (853) Altri crediti e attivit\u00e0 corren<span class=\"_ _29\"></span>ti 16.675  5.680  10.995  I <span class=\"_ _28\"></span><span class=\"ff5e ls0\">\u201cCrediti <span class=\"_ _2c\"> </span>tributari\u201d<span class=\"ff56\"> <span class=\"_ _2c\"></span>includono <span class=\"_ _28\"></span>per <span class=\"_ _2c\"></span>Euro <span class=\"_ _28\"></span>4,4 <span class=\"_ _2c\"></span>milioni <span class=\"_ _2c\"></span><span class=\"ff5d\">crediti <span class=\"_ _28\"> </span>d\u2019impo<span class=\"_ _0\"></span>sta <span class=\"_ _28\"></span></span>relativi <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>energia <span class=\"_ _2c\"></span>afferenti <span class=\"_ _28\"></span>al </span></span>gruppo KME SE. L\u2019iscrizione <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>ratei<span class=\"ff56\"> <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>risconti <span class=\"_ _2b\"></span>attivi <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>dovuta <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>rilevazion<span class=\"_ _0\"></span>e <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>costi <span class=\"_ _29\"></span>anticipati <span class=\"_ _2b\"></span>principalmente <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>spese </span>di viaggio e servizi di competenza dei successiv<span class=\"_ _0\"></span>i periodi. I <span class=\"_ _29\"></span><span class=\"ff5e ls0\">\u201cCrediti <span class=\"_ _2b\"></span>verso correlate\u201d<span class=\"ff56\"> <span class=\"_ _2b\"></span>al 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _29\"></span>includevano <span class=\"_ _2b\"></span>principalmente <span class=\"ff5d\">posizioni <span class=\"_ _29\"></span>sorte <span class=\"_ _2b\"></span>nell\u2019ambito </span></span></span>del consolidato <span class=\"_ _0\"></span>fiscale<span class=\"ff5d\">; <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>31 dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>i crediti <span class=\"_ _0\"></span>in essere <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>stati elisi ne<span class=\"_ _0\"></span>ll\u2019ambito del <span class=\"_ _0\"></span>consolidamento<span class=\"_ _0\"></span> </span>integrale <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>sussistono <span class=\"_ _28\"></span>solo <span class=\"_ _28\"></span>E<span class=\"ff5d\">uro <span class=\"_ _28\"></span>77 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>verso <span class=\"_ _28\"></span>un\u2019entit\u00e0 <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>partecipava <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>consolidato <span class=\"_ _28\"></span>fiscale <span class=\"_ _28\"></span>ma <span class=\"_ _28\"></span>non </span>consolidata integralmente al 31 dicembre 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__105": {
   "value": "4.10.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altri crediti ed attivit\u00e0 correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti tributari 11.588  643  10.945  Anticipi a fornitori 1.585   -<span class=\"lsd\">  </span> 1.585  Ratei e risconti attivi 1.845  109  1.736  Crediti verso imprese correla<span class=\"_ _29\"></span>te 77  2.495  (2.418) Altri crediti 1.580  2.433  (853) Altri crediti e attivit\u00e0 corren<span class=\"_ _29\"></span>ti 16.675  5.680  10.995  I <span class=\"_ _28\"></span><span class=\"ff5e ls0\">\u201cCrediti <span class=\"_ _2c\"> </span>tributari\u201d<span class=\"ff56\"> <span class=\"_ _2c\"></span>includono <span class=\"_ _28\"></span>per <span class=\"_ _2c\"></span>Euro <span class=\"_ _28\"></span>4,4 <span class=\"_ _2c\"></span>milioni <span class=\"_ _2c\"></span><span class=\"ff5d\">crediti <span class=\"_ _28\"> </span>d\u2019impo<span class=\"_ _0\"></span>sta <span class=\"_ _28\"></span></span>relativi <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>energia <span class=\"_ _2c\"></span>afferenti <span class=\"_ _28\"></span>al </span></span>gruppo KME SE. L\u2019iscrizione <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>ratei<span class=\"ff56\"> <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>risconti <span class=\"_ _2b\"></span>attivi <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>dovuta <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>rilevazion<span class=\"_ _0\"></span>e <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>costi <span class=\"_ _29\"></span>anticipati <span class=\"_ _2b\"></span>principalmente <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>spese </span>di viaggio e servizi di competenza dei successiv<span class=\"_ _0\"></span>i periodi. I <span class=\"_ _29\"></span><span class=\"ff5e ls0\">\u201cCrediti <span class=\"_ _2b\"></span>verso correlate\u201d<span class=\"ff56\"> <span class=\"_ _2b\"></span>al 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _29\"></span>includevano <span class=\"_ _2b\"></span>principalmente <span class=\"ff5d\">posizioni <span class=\"_ _29\"></span>sorte <span class=\"_ _2b\"></span>nell\u2019ambito </span></span></span>del consolidato <span class=\"_ _0\"></span>fiscale<span class=\"ff5d\">; <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>31 dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>i crediti <span class=\"_ _0\"></span>in essere <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>stati elisi ne<span class=\"_ _0\"></span>ll\u2019ambito del <span class=\"_ _0\"></span>consolidamento<span class=\"_ _0\"></span> </span>integrale <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>sussistono <span class=\"_ _28\"></span>solo <span class=\"_ _28\"></span>E<span class=\"ff5d\">uro <span class=\"_ _28\"></span>77 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>verso <span class=\"_ _28\"></span>un\u2019entit\u00e0 <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>partecipava <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>consolidato <span class=\"_ _28\"></span>fiscale <span class=\"_ _28\"></span>ma <span class=\"_ _28\"></span>non </span>consolidata integralmente al 31 dicembre 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__104": {
   "value": "4.10.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altri crediti ed attivit\u00e0 correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Crediti tributari 11.588  643  10.945  Anticipi a fornitori 1.585   -<span class=\"lsd\">  </span> 1.585  Ratei e risconti attivi 1.845  109  1.736  Crediti verso imprese correla<span class=\"_ _29\"></span>te 77  2.495  (2.418) Altri crediti 1.580  2.433  (853) Altri crediti e attivit\u00e0 corren<span class=\"_ _29\"></span>ti 16.675  5.680  10.995  I <span class=\"_ _28\"></span><span class=\"ff5e ls0\">\u201cCrediti <span class=\"_ _2c\"> </span>tributari\u201d<span class=\"ff56\"> <span class=\"_ _2c\"></span>includono <span class=\"_ _28\"></span>per <span class=\"_ _2c\"></span>Euro <span class=\"_ _28\"></span>4,4 <span class=\"_ _2c\"></span>milioni <span class=\"_ _2c\"></span><span class=\"ff5d\">crediti <span class=\"_ _28\"> </span>d\u2019impo<span class=\"_ _0\"></span>sta <span class=\"_ _28\"></span></span>relativi <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>energia <span class=\"_ _2c\"></span>afferenti <span class=\"_ _28\"></span>al </span></span>gruppo KME SE. L\u2019iscrizione <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>ratei<span class=\"ff56\"> <span class=\"_ _29\"></span>e <span class=\"_ _2b\"></span>risconti <span class=\"_ _2b\"></span>attivi <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _2b\"></span>dovuta <span class=\"_ _2b\"></span>alla <span class=\"_ _2b\"></span>rilevazion<span class=\"_ _0\"></span>e <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>costi <span class=\"_ _29\"></span>anticipati <span class=\"_ _2b\"></span>principalmente <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>spese </span>di viaggio e servizi di competenza dei successiv<span class=\"_ _0\"></span>i periodi. I <span class=\"_ _29\"></span><span class=\"ff5e ls0\">\u201cCrediti <span class=\"_ _2b\"></span>verso correlate\u201d<span class=\"ff56\"> <span class=\"_ _2b\"></span>al 31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _29\"></span>includevano <span class=\"_ _2b\"></span>principalmente <span class=\"ff5d\">posizioni <span class=\"_ _29\"></span>sorte <span class=\"_ _2b\"></span>nell\u2019ambito </span></span></span>del consolidato <span class=\"_ _0\"></span>fiscale<span class=\"ff5d\">; <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>31 dicembre <span class=\"_ _0\"></span>2022 <span class=\"_ _0\"></span>i crediti <span class=\"_ _0\"></span>in essere <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>stati elisi ne<span class=\"_ _0\"></span>ll\u2019ambito del <span class=\"_ _0\"></span>consolidamento<span class=\"_ _0\"></span> </span>integrale <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>sussistono <span class=\"_ _28\"></span>solo <span class=\"_ _28\"></span>E<span class=\"ff5d\">uro <span class=\"_ _28\"></span>77 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>verso <span class=\"_ _28\"></span>un\u2019entit\u00e0 <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>partecipava <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>consolidato <span class=\"_ _28\"></span>fiscale <span class=\"_ _28\"></span>ma <span class=\"_ _28\"></span>non </span>consolidata integralmente al 31 dicembre 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__106": {
   "value": "4.11.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Disponibilit\u00e0 liquide e mezzi equivalenti Le \u201c<span class=\"ff5e\">Disponibilit\u00e0 liquide e<span class=\"_ _29\"></span> mez<span class=\"_ _29\"></span>zi equivalenti\u201d<span class=\"ff56\"> sono costituite da <span class=\"_ _29\"></span>depositi bancari <span class=\"_ _29\"></span>e da valori <span class=\"_ _29\"></span>in cassa; <span class=\"_ _29\"></span>al </span></span>31 dicembre 2022 Euro 12 milio<span class=\"_ _0\"></span>ni sono costituiti in pegno. Per <span class=\"_ _2c\"> </span>il <span class=\"_ _2c\"> </span>dettaglio <span class=\"_ _28\"> </span>della <span class=\"_ _2c\"> </span>liquidit\u00e0 <span class=\"_ _2c\"> </span>generata <span class=\"_ _2c\"> </span>e <span class=\"_ _2c\"> </span>assorbita <span class=\"_ _2c\"> </span>nel <span class=\"_ _2c\"> </span>corso <span class=\"_ _2c\"> </span>dell\u2019esercizio<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2c\"></span>si <span class=\"_ _2c\"></span>rimanda <span class=\"_ _2c\"></span>al <span class=\"_ _2c\"></span>rendiconto </span>finanziario consolidato; <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>particolare la <span class=\"ff5d\">\u201c</span>variazione <span class=\"_ _2b\"></span>dell'area di <span class=\"_ _29\"></span>consolidamento<span class=\"ff5d\">\u201d</span> ivi <span class=\"_ _2b\"></span>evid<span class=\"_ _0\"></span>enziata <span class=\"_ _29\"></span>(pari <span class=\"_ _29\"></span>ad <span class=\"_ _29\"></span>Euro 104.174 migliaia) \u00e8 relativa per <span class=\"_ _29\"></span>Euro 95.658 migliaia al primo <span class=\"_ _29\"></span>consolidamento effettuato dalla Capogruppo al 30 aprile <span class=\"_ _2b\"></span>20<span class=\"_ _0\"></span>22 (<span class=\"ff5d\">\u201c</span>variazione <span class=\"_ _2b\"></span>are<span class=\"_ _0\"></span>a di <span class=\"_ _2b\"></span>consol<span class=\"_ _0\"></span>idamento IFRS <span class=\"_ _2b\"></span>10<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d</span>) e <span class=\"_ _29\"></span>per Euro <span class=\"_ _2b\"></span>8.51<span class=\"_ _0\"></span>6 migliaia <span class=\"_ _2b\"></span>a<span class=\"_ _0\"></span><span class=\"ff5d\">ll\u2019acquisizio</span>ne delle entit\u00e0 del perimetro Aurubis effettuata a <span class=\"_ _0\"></span>luglio 2022 da KME SE<span class=\"_ _0\"></span>. Inoltre: \u25aa <span class=\"_ _9a\"> </span>il <span class=\"_ _2d\"> </span><span class=\"ls0\">flusso <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>cassa <span class=\"_ _2d\"> </span>netto <span class=\"_ _2d\"> </span>totale <span class=\"_ _2d\"> </span>da <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>investimento <span class=\"_ _2d\"> </span>\u00e8 <span class=\"_ _2d\"> </span>dovuto <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>all'investimento </span>nell'operazione commerciale acquisita da Aurubi<span class=\"_ _0\"></span>s per Euro <span class=\"ls1\">75 </span>milioni; \u25aa<span class=\"ff58\"> <span class=\"_ _9a\"> </span><span class=\"ff56 ls9\">il<span class=\"ls0\"> flusso di cassa utilizzato nelle attivit\u00e0 di finanziamento include<span class=\"_ _0\"></span> Euro 110 milioni relativi al rimborso </span></span></span>anticipato del prestito obbligazionario 6\u00be% <span class=\"_ _0\"></span><span class=\"ff5d\">in capo a KME SE finalizzato l\u20198 dicembre 2022<span class=\"_ _0\"></span>.</span>  Si <span class=\"_ _2d\"> </span>ritiene <span class=\"_ _2c\"></span>che <span class=\"_ _2d\"> </span>le <span class=\"_ _2c\"></span>disponibilit\u00e0 <span class=\"_ _2d\"> </span>liquide <span class=\"_ _2d\"> </span>siano <span class=\"_ _2c\"></span>sufficienti<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>le <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"></span>Gruppo, <span class=\"_ _2d\"> </span>commerciali <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>di impegno finanziario.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__107": {
   "value": "4.12.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Attivit\u00e0 <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>correnti <span class=\"_ _28\"></span>detenute <span class=\"_ _23\"></span>per <span class=\"_ _28\"></span>la <span class=\"_ _23\"></span>vendita <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>direttamente <span class=\"_ _28\"></span>collegate <span class=\"_ _23\"></span>ad <span class=\"_ _28\"></span>attivit\u00e0 possedute per la vendita (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Attivit\u00e0 non correnti possedut<span class=\"_ _29\"></span>e per la vendita 107.198   -<span class=\"lsd\">  </span> 107.198  Passivit\u00e0 direttamente collega<span class=\"_ _29\"></span>te ad attivit\u00e0 possedute per la<span class=\"_ _29\"></span> vendita (68.469)  -<span class=\"lsd\">  </span> (68.469) Attivit\u00e0 nette possedute per la ve<span class=\"_ _29\"></span>ndita 38.729   -<span class=\"lsd\">  </span> 38.729  Alla <span class=\"_ _23\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>riferimento <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>bilancio, <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>destinate <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>vendita<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>si <span class=\"_ _23\"></span>riferiscono <span class=\"_ _23\"></span>a Serravalle Copper Tubes Italy Srl e Trefimetaux SA e<span class=\"_ _0\"></span>d includono<span class=\"_ _0\"></span>: (in migliaia di Euro) 31 dic 2022 Attivit\u00e0 immateriali 15.044  Immobili, impianti e macchina<span class=\"_ _29\"></span>ri 44.583  Partecipazioni 110  Attivit\u00e0 per imposte differite<span class=\"_ _29\"></span> 352  Rimanenze 35.799  Crediti commerciali 317  Altre attivit\u00e0 correnti 6.463  Attivit\u00e0 finanziarie correnti 2.758  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 1.772  Attivit\u00e0 non correnti detenu<span class=\"_ _29\"></span>te per la vendita 107.198  Benefici ai dipendenti (2.836) Fondi (11.846) Passivit\u00e0 finanziarie (11.952) Altre passivit\u00e0 correnti (5.302) Debiti verso fornitori (36.533) Passivit\u00e0 direttamente colleg<span class=\"_ _29\"></span>ate ad attivit\u00e0 possedute per la vendita (68.469) Attivit\u00e0 (Passivit\u00e0) nette possedute<span class=\"_ _29\"></span> per la vendita 38.729  Al <span class=\"_ _0\"></span>31 <span class=\"_ _0\"></span>dicembre <span class=\"_ _0\"></span>2022<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _0\"></span>destinate <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>vendita <span class=\"_ _0\"></span>contengono <span class=\"_ _0\"></span>diritti<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>d'uso <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>365 <span class=\"_ _0\"></span>migliaia<span class=\"_ _0\"></span> <span class=\"_ _0\"></span><span class=\"ls3\">e </span>le passivit\u00e0 collegate ad esse compren<span class=\"_ _0\"></span>dono debiti per leasing per Eu<span class=\"_ _0\"></span>ro 476 migliaia.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__112": {
   "value": "4.13.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Patrimonio netto di Gruppo Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto<span class=\"ff5d ls3\">\u201d.<span class=\"_ _0\"></span></span><span class=\"ff56\"> </span>La movimentazione del patrimonio netto i<span class=\"_ _0\"></span>nclude gli effetti: \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019allocazione <span class=\"_ _2c\"> </span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>esercizio <span class=\"_ _2d\"> </span>annuale <span class=\"_ _2c\"> </span>2021 <span class=\"_ _2c\"> </span>della <span class=\"_ _2c\"> </span>Capogr<span class=\"_ _0\"></span>uppo <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>ad <span class=\"_ _28\"> </span>Euro<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>65.306 </span>migliaia, come approvato dall\u2019<span class=\"ff56\">Assemblea degli azionisti del 9 maggio 2022, cos\u00ec destinato: pe<span class=\"_ _29\"></span>r </span>il <span class=\"_ _0\"></span>5%, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>3.265 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>riserva <span class=\"_ _0\"></span>legal<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>residuo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>62.041 <span class=\"_ _22\"></span>migliaia mediante <span class=\"_ _2d\"> </span>accantonamento <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>apposita <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2d\"> </span>indisponibile, <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>sensi <span class=\"_ _2d\"> </span>dell\u2019art. <span class=\"_ _2d\"> </span>6 <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span>D. <span class=\"_ _2d\"> </span>Lgs. 38/2005, <span class=\"_ _2c\"> </span>degli <span class=\"_ _2c\"> </span>utili <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _28\"></span>dall\u2019applicazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>criterio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value <span class=\"_ _2c\"> </span><span class=\"ff56\">(in<span class=\"_ _0\"></span>cremento <span class=\"_ _2c\"></span>delle </span></span>\u201cAltre riserve\u201d)<span class=\"ff5a\">;<span class=\"ff56\"> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56 ls1\">de</span><span class=\"ff5d\">ll\u2019operazione <span class=\"_ _2f\"> </span>perseguita <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2f\"> </span>Capogruppo<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>relative <span class=\"_ _2f\"> </span>alle <span class=\"_ _2f\"> </span>Offerte <span class=\"_ _2f\"> </span>Pubbliche <span class=\"_ _2f\"> </span>di <span class=\"_ _41\"> </span>Scambio<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span>(\u201cOfferte\u201d)<span class=\"ff56\"> <span class=\"_ _28\"></span>concluse <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>23 <span class=\"_ _23\"></span>settembre <span class=\"_ _28\"></span>u.s. <span class=\"_ _2c\"></span>la <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span></span>ha <span class=\"_ _23\"></span>comportato<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>l\u2019annullamento <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>azioni<span class=\"_ _0\"></span> ordinarie, <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>risparmio <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2a\"> </span>warrant <span class=\"_ _2d\"> </span>portati <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>adesione, <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>esecuzione <span class=\"_\"> </span>della <span class=\"_ _2d\"> </span>delibera dell\u2019Assemblea <span class=\"_ _2a\"> </span>straordinaria <span class=\"_ _2a\"> </span>della <span class=\"_ _2a\"> </span>Societ\u00e0 <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>16<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>giugno <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2d\"> </span>senza <span class=\"_\"> </span>alcuna <span class=\"_ _2a\"> </span>riduzione <span class=\"_ _2a\"> </span>di capitale, con conseguente <span class=\"_ _0\"></span>automatico incremento <span class=\"_ _0\"></span>della \u201cparit\u00e0 cont<span class=\"_ _0\"></span>abile implicita\u201d delle a<span class=\"_ _0\"></span>zioni residue. <span class=\"_ _2d\"> </span>Il <span class=\"_ _2a\"> </span>corrispettivo <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>Offerte <span class=\"_ _2d\"> </span>era <span class=\"_ _2a\"> </span>costituito <span class=\"_ _2d\"> </span>da <span class=\"_ _2a\"> </span>obbligazioni <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _2d\"> </span>dal <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estito obbligazionario <span class=\"_ _23\"></span>\u201cKME <span class=\"_ _28\"></span>Group <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"></span>2022 <span class=\"_ _28\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _23\"></span></span>20<span class=\"_ _0\"></span>27\u201d, <span class=\"_ _23\"></span>pertanto, <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>risultati <span class=\"_ _23\"></span>definitivi delle <span class=\"_ _2d\"> </span>Offerte, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>ha <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>complessive <span class=\"_ _2d\"> </span>n.<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>63.533.259 <span class=\"_ _2a\"> </span>Obbligazioni <span class=\"_ _2d\"> </span>2022, <span class=\"_ _2d\"> </span>per <span class=\"_ _2a\"> </span>un controvalore complessivo pari ad Eu<span class=\"_ _0\"></span>ro 63,5 milioni; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">della <span class=\"_ _0\"></span>riduzio<span class=\"_ _0\"></span>ne <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>capitale <span class=\"_ _22\"></span>sociale, <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>dell\u2019art. <span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>45 <span class=\"_ _0\"></span>c.c., <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>l\u2019importo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>nominali <span class=\"_ _22\"></span>Euro </span></span>135.000.000,00, <span class=\"_ _2a\"> </span>mediante <span class=\"_ _2d\"> </span>impu<span class=\"_ _0\"></span>tazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>uguale <span class=\"_\"> </span>ammontare <span class=\"_ _2d\"> </span>a <span class=\"_\"> </span>una <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2a\"> </span>disponibile <span class=\"_ _2a\"> </span>del Patrimonio netto, senza annullamento di azioni.<span class=\"_ _0\"></span> Il <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Capitale <span class=\"_ _2b\"></span>Sociale<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 dicembre <span class=\"_ _2b\"></span>2022 \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>Euro<span class=\"_ _0\"></span><span class=\"ff56\"> 200.070.087,67 suddiviso <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>n. <span class=\"_ _2b\"></span>306.937.0<span class=\"_ _0\"></span>71 </span></span></span>azioni <span class=\"_ _2b\"></span>ordinarie <span class=\"_ _29\"></span>(95,27% <span class=\"_ _2b\"></span>sul <span class=\"_ _29\"></span>capitale) <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>n.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>15.246.505<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>risparmio <span class=\"_ _2b\"></span>(4,73% sul <span class=\"_ _2b\"></span>capitale). <span class=\"_ _2b\"></span>Tutte le azioni sono prive di indicazione del valore nominale. <span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019accantonamento <span class=\"_ _8b\"> </span>ad <span class=\"_ _2e\"> </span>apposit<span class=\"_ _0\"></span>a <span class=\"_ _8b\"> </span>riserva <span class=\"_ _2e\"> </span>inclusa <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>\u201cAltre <span class=\"_ _2e\"> </span>riserve\u201d <span class=\"_ _2e\"> </span>dei <span class=\"_ _2e\"> </span>costi <span class=\"_ _8b\"> </span>sui <span class=\"_ _2e\"> </span>Warrant </span>Management <span class=\"_ _2b\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>attuariale <span class=\"_ _29\"></span>effettuato <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>applicazione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>previsioni <span class=\"_ _2b\"></span>dell\u2019IFRS<span class=\"_ _0\"></span> 2. Tali costi sono inclusi nella voce \u201cAltri costi o<span class=\"_ _0\"></span>perativi\u201d.<span class=\"ff56\"> </span>I <span class=\"_ _22\"></span>sudde<span class=\"_ _0\"></span>tti <span class=\"_ _22\"></span>Warrant <span class=\"_ _23\"></span>Management <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>esercitabili <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>28 <span class=\"_ _23\"></span>giugno <span class=\"_ _22\"></span>2024 <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>prezzo <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>esercizio <span class=\"_ _23\"></span>di Euro <span class=\"_ _0\"></span>0,40 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span><span class=\"ff5a\">warrant<span class=\"_ _0\"></span></span>; <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>stati <span class=\"_ _0\"></span>emessi <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>esecuzione <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>delibera <span class=\"_ _22\"></span>assembleare <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>Societ\u00e0 <span class=\"_ _0\"></span>in data <span class=\"_ _3c\"> </span>30 <span class=\"_ _49\"> </span>novembre <span class=\"_ _49\"> </span>2020 <span class=\"_ _49\"> </span>e <span class=\"_ _3c\"> </span>succ<span class=\"_ _0\"></span>essivamente <span class=\"_ _49\"> </span>assegnati <span class=\"_ _49\"> </span>a <span class=\"_ _3c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>appr<span class=\"_ _0\"></span>ovazion<span class=\"_ _0\"></span>e <span class=\"_ _3c\"> </span>da <span class=\"_ _49\"> </span>parte dell\u2019Assemblea ordinaria e straordinaria dell\u20198 giugno 2021 della Politica della Remunerazione per il triennio 2021-2023 e del Piano di Incentivazione Amministratori Esecutivi 2021-2024<span class=\"_ _0\"></span>; sono stati assegnati co<span class=\"_ _0\"></span>mplessivamente <span class=\"_ _0\"></span>n. 37,5<span class=\"_ _0\"></span> milio<span class=\"_ _0\"></span>ni di <span class=\"_ _0\"></span>Warrant <span class=\"_ _0\"></span>Management, <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>n. 25 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>mese di luglio 2021 e n. 12,5 milioni nel mese di giugno 2022.<span class=\"_ _0\"></span> Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto consolida<span class=\"_ _0\"></span>to al 31 dicembre 2022<span class=\"_ _0\"></span><span class=\"ff5d ls3\">\u201d.</span><span class=\"ff56\"> </span>Informazioni sulle azioni proprie Al 31 dicembre 20<span class=\"_ _0\"></span>22 la Societ\u00e0 detiene <span class=\"_ _0\"></span>n. 6.937.311 azioni <span class=\"_ _0\"></span>ordinarie proprie pari al <span class=\"_ _0\"></span>2,26% del capitale ordinario <span class=\"_ _23\"></span>(2,15% <span class=\"_ _22\"></span>sul <span class=\"_ _23\"></span>capitale <span class=\"_ _22\"></span>complessiv<span class=\"_ _0\"></span>o). <span class=\"_ _23\"></span>Non <span class=\"_ _23\"></span>vi <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>movimentazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>questa <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>corso <span class=\"_ _23\"></span>del 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__110": {
   "value": "4.13.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Patrimonio netto di Gruppo Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto<span class=\"ff5d ls3\">\u201d.<span class=\"_ _0\"></span></span><span class=\"ff56\"> </span>La movimentazione del patrimonio netto i<span class=\"_ _0\"></span>nclude gli effetti: \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019allocazione <span class=\"_ _2c\"> </span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>esercizio <span class=\"_ _2d\"> </span>annuale <span class=\"_ _2c\"> </span>2021 <span class=\"_ _2c\"> </span>della <span class=\"_ _2c\"> </span>Capogr<span class=\"_ _0\"></span>uppo <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>ad <span class=\"_ _28\"> </span>Euro<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>65.306 </span>migliaia, come approvato dall\u2019<span class=\"ff56\">Assemblea degli azionisti del 9 maggio 2022, cos\u00ec destinato: pe<span class=\"_ _29\"></span>r </span>il <span class=\"_ _0\"></span>5%, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>3.265 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>riserva <span class=\"_ _0\"></span>legal<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>residuo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>62.041 <span class=\"_ _22\"></span>migliaia mediante <span class=\"_ _2d\"> </span>accantonamento <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>apposita <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2d\"> </span>indisponibile, <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>sensi <span class=\"_ _2d\"> </span>dell\u2019art. <span class=\"_ _2d\"> </span>6 <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span>D. <span class=\"_ _2d\"> </span>Lgs. 38/2005, <span class=\"_ _2c\"> </span>degli <span class=\"_ _2c\"> </span>utili <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _28\"></span>dall\u2019applicazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>criterio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value <span class=\"_ _2c\"> </span><span class=\"ff56\">(in<span class=\"_ _0\"></span>cremento <span class=\"_ _2c\"></span>delle </span></span>\u201cAltre riserve\u201d)<span class=\"ff5a\">;<span class=\"ff56\"> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56 ls1\">de</span><span class=\"ff5d\">ll\u2019operazione <span class=\"_ _2f\"> </span>perseguita <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2f\"> </span>Capogruppo<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>relative <span class=\"_ _2f\"> </span>alle <span class=\"_ _2f\"> </span>Offerte <span class=\"_ _2f\"> </span>Pubbliche <span class=\"_ _2f\"> </span>di <span class=\"_ _41\"> </span>Scambio<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span>(\u201cOfferte\u201d)<span class=\"ff56\"> <span class=\"_ _28\"></span>concluse <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>23 <span class=\"_ _23\"></span>settembre <span class=\"_ _28\"></span>u.s. <span class=\"_ _2c\"></span>la <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span></span>ha <span class=\"_ _23\"></span>comportato<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>l\u2019annullamento <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>azioni<span class=\"_ _0\"></span> ordinarie, <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>risparmio <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2a\"> </span>warrant <span class=\"_ _2d\"> </span>portati <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>adesione, <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>esecuzione <span class=\"_\"> </span>della <span class=\"_ _2d\"> </span>delibera dell\u2019Assemblea <span class=\"_ _2a\"> </span>straordinaria <span class=\"_ _2a\"> </span>della <span class=\"_ _2a\"> </span>Societ\u00e0 <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>16<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>giugno <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2d\"> </span>senza <span class=\"_\"> </span>alcuna <span class=\"_ _2a\"> </span>riduzione <span class=\"_ _2a\"> </span>di capitale, con conseguente <span class=\"_ _0\"></span>automatico incremento <span class=\"_ _0\"></span>della \u201cparit\u00e0 cont<span class=\"_ _0\"></span>abile implicita\u201d delle a<span class=\"_ _0\"></span>zioni residue. <span class=\"_ _2d\"> </span>Il <span class=\"_ _2a\"> </span>corrispettivo <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>Offerte <span class=\"_ _2d\"> </span>era <span class=\"_ _2a\"> </span>costituito <span class=\"_ _2d\"> </span>da <span class=\"_ _2a\"> </span>obbligazioni <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _2d\"> </span>dal <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estito obbligazionario <span class=\"_ _23\"></span>\u201cKME <span class=\"_ _28\"></span>Group <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"></span>2022 <span class=\"_ _28\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _23\"></span></span>20<span class=\"_ _0\"></span>27\u201d, <span class=\"_ _23\"></span>pertanto, <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>risultati <span class=\"_ _23\"></span>definitivi delle <span class=\"_ _2d\"> </span>Offerte, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>ha <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>complessive <span class=\"_ _2d\"> </span>n.<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>63.533.259 <span class=\"_ _2a\"> </span>Obbligazioni <span class=\"_ _2d\"> </span>2022, <span class=\"_ _2d\"> </span>per <span class=\"_ _2a\"> </span>un controvalore complessivo pari ad Eu<span class=\"_ _0\"></span>ro 63,5 milioni; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">della <span class=\"_ _0\"></span>riduzio<span class=\"_ _0\"></span>ne <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>capitale <span class=\"_ _22\"></span>sociale, <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>dell\u2019art. <span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>45 <span class=\"_ _0\"></span>c.c., <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>l\u2019importo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>nominali <span class=\"_ _22\"></span>Euro </span></span>135.000.000,00, <span class=\"_ _2a\"> </span>mediante <span class=\"_ _2d\"> </span>impu<span class=\"_ _0\"></span>tazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>uguale <span class=\"_\"> </span>ammontare <span class=\"_ _2d\"> </span>a <span class=\"_\"> </span>una <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2a\"> </span>disponibile <span class=\"_ _2a\"> </span>del Patrimonio netto, senza annullamento di azioni.<span class=\"_ _0\"></span> Il <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Capitale <span class=\"_ _2b\"></span>Sociale<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 dicembre <span class=\"_ _2b\"></span>2022 \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>Euro<span class=\"_ _0\"></span><span class=\"ff56\"> 200.070.087,67 suddiviso <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>n. <span class=\"_ _2b\"></span>306.937.0<span class=\"_ _0\"></span>71 </span></span></span>azioni <span class=\"_ _2b\"></span>ordinarie <span class=\"_ _29\"></span>(95,27% <span class=\"_ _2b\"></span>sul <span class=\"_ _29\"></span>capitale) <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>n.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>15.246.505<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>risparmio <span class=\"_ _2b\"></span>(4,73% sul <span class=\"_ _2b\"></span>capitale). <span class=\"_ _2b\"></span>Tutte le azioni sono prive di indicazione del valore nominale. <span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019accantonamento <span class=\"_ _8b\"> </span>ad <span class=\"_ _2e\"> </span>apposit<span class=\"_ _0\"></span>a <span class=\"_ _8b\"> </span>riserva <span class=\"_ _2e\"> </span>inclusa <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>\u201cAltre <span class=\"_ _2e\"> </span>riserve\u201d <span class=\"_ _2e\"> </span>dei <span class=\"_ _2e\"> </span>costi <span class=\"_ _8b\"> </span>sui <span class=\"_ _2e\"> </span>Warrant </span>Management <span class=\"_ _2b\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>attuariale <span class=\"_ _29\"></span>effettuato <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>applicazione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>previsioni <span class=\"_ _2b\"></span>dell\u2019IFRS<span class=\"_ _0\"></span> 2. Tali costi sono inclusi nella voce \u201cAltri costi o<span class=\"_ _0\"></span>perativi\u201d.<span class=\"ff56\"> </span>I <span class=\"_ _22\"></span>sudde<span class=\"_ _0\"></span>tti <span class=\"_ _22\"></span>Warrant <span class=\"_ _23\"></span>Management <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>esercitabili <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>28 <span class=\"_ _23\"></span>giugno <span class=\"_ _22\"></span>2024 <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>prezzo <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>esercizio <span class=\"_ _23\"></span>di Euro <span class=\"_ _0\"></span>0,40 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span><span class=\"ff5a\">warrant<span class=\"_ _0\"></span></span>; <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>stati <span class=\"_ _0\"></span>emessi <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>esecuzione <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>delibera <span class=\"_ _22\"></span>assembleare <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>Societ\u00e0 <span class=\"_ _0\"></span>in data <span class=\"_ _3c\"> </span>30 <span class=\"_ _49\"> </span>novembre <span class=\"_ _49\"> </span>2020 <span class=\"_ _49\"> </span>e <span class=\"_ _3c\"> </span>succ<span class=\"_ _0\"></span>essivamente <span class=\"_ _49\"> </span>assegnati <span class=\"_ _49\"> </span>a <span class=\"_ _3c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>appr<span class=\"_ _0\"></span>ovazion<span class=\"_ _0\"></span>e <span class=\"_ _3c\"> </span>da <span class=\"_ _49\"> </span>parte dell\u2019Assemblea ordinaria e straordinaria dell\u20198 giugno 2021 della Politica della Remunerazione per il triennio 2021-2023 e del Piano di Incentivazione Amministratori Esecutivi 2021-2024<span class=\"_ _0\"></span>; sono stati assegnati co<span class=\"_ _0\"></span>mplessivamente <span class=\"_ _0\"></span>n. 37,5<span class=\"_ _0\"></span> milio<span class=\"_ _0\"></span>ni di <span class=\"_ _0\"></span>Warrant <span class=\"_ _0\"></span>Management, <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>n. 25 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>mese di luglio 2021 e n. 12,5 milioni nel mese di giugno 2022.<span class=\"_ _0\"></span> Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto consolida<span class=\"_ _0\"></span>to al 31 dicembre 2022<span class=\"_ _0\"></span><span class=\"ff5d ls3\">\u201d.</span><span class=\"ff56\"> </span>Informazioni sulle azioni proprie Al 31 dicembre 20<span class=\"_ _0\"></span>22 la Societ\u00e0 detiene <span class=\"_ _0\"></span>n. 6.937.311 azioni <span class=\"_ _0\"></span>ordinarie proprie pari al <span class=\"_ _0\"></span>2,26% del capitale ordinario <span class=\"_ _23\"></span>(2,15% <span class=\"_ _22\"></span>sul <span class=\"_ _23\"></span>capitale <span class=\"_ _22\"></span>complessiv<span class=\"_ _0\"></span>o). <span class=\"_ _23\"></span>Non <span class=\"_ _23\"></span>vi <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>movimentazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>questa <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>corso <span class=\"_ _23\"></span>del 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__109": {
   "value": "4.13.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Patrimonio netto di Gruppo Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto<span class=\"ff5d ls3\">\u201d.<span class=\"_ _0\"></span></span><span class=\"ff56\"> </span>La movimentazione del patrimonio netto i<span class=\"_ _0\"></span>nclude gli effetti: \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019allocazione <span class=\"_ _2c\"> </span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>esercizio <span class=\"_ _2d\"> </span>annuale <span class=\"_ _2c\"> </span>2021 <span class=\"_ _2c\"> </span>della <span class=\"_ _2c\"> </span>Capogr<span class=\"_ _0\"></span>uppo <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>ad <span class=\"_ _28\"> </span>Euro<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>65.306 </span>migliaia, come approvato dall\u2019<span class=\"ff56\">Assemblea degli azionisti del 9 maggio 2022, cos\u00ec destinato: pe<span class=\"_ _29\"></span>r </span>il <span class=\"_ _0\"></span>5%, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>3.265 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>riserva <span class=\"_ _0\"></span>legal<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>residuo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>62.041 <span class=\"_ _22\"></span>migliaia mediante <span class=\"_ _2d\"> </span>accantonamento <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>apposita <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2d\"> </span>indisponibile, <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>sensi <span class=\"_ _2d\"> </span>dell\u2019art. <span class=\"_ _2d\"> </span>6 <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span>D. <span class=\"_ _2d\"> </span>Lgs. 38/2005, <span class=\"_ _2c\"> </span>degli <span class=\"_ _2c\"> </span>utili <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _28\"></span>dall\u2019applicazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>criterio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value <span class=\"_ _2c\"> </span><span class=\"ff56\">(in<span class=\"_ _0\"></span>cremento <span class=\"_ _2c\"></span>delle </span></span>\u201cAltre riserve\u201d)<span class=\"ff5a\">;<span class=\"ff56\"> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56 ls1\">de</span><span class=\"ff5d\">ll\u2019operazione <span class=\"_ _2f\"> </span>perseguita <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2f\"> </span>Capogruppo<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>relative <span class=\"_ _2f\"> </span>alle <span class=\"_ _2f\"> </span>Offerte <span class=\"_ _2f\"> </span>Pubbliche <span class=\"_ _2f\"> </span>di <span class=\"_ _41\"> </span>Scambio<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span>(\u201cOfferte\u201d)<span class=\"ff56\"> <span class=\"_ _28\"></span>concluse <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>23 <span class=\"_ _23\"></span>settembre <span class=\"_ _28\"></span>u.s. <span class=\"_ _2c\"></span>la <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span></span>ha <span class=\"_ _23\"></span>comportato<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>l\u2019annullamento <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>azioni<span class=\"_ _0\"></span> ordinarie, <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>risparmio <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2a\"> </span>warrant <span class=\"_ _2d\"> </span>portati <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>adesione, <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>esecuzione <span class=\"_\"> </span>della <span class=\"_ _2d\"> </span>delibera dell\u2019Assemblea <span class=\"_ _2a\"> </span>straordinaria <span class=\"_ _2a\"> </span>della <span class=\"_ _2a\"> </span>Societ\u00e0 <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>16<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>giugno <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2d\"> </span>senza <span class=\"_\"> </span>alcuna <span class=\"_ _2a\"> </span>riduzione <span class=\"_ _2a\"> </span>di capitale, con conseguente <span class=\"_ _0\"></span>automatico incremento <span class=\"_ _0\"></span>della \u201cparit\u00e0 cont<span class=\"_ _0\"></span>abile implicita\u201d delle a<span class=\"_ _0\"></span>zioni residue. <span class=\"_ _2d\"> </span>Il <span class=\"_ _2a\"> </span>corrispettivo <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>Offerte <span class=\"_ _2d\"> </span>era <span class=\"_ _2a\"> </span>costituito <span class=\"_ _2d\"> </span>da <span class=\"_ _2a\"> </span>obbligazioni <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _2d\"> </span>dal <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estito obbligazionario <span class=\"_ _23\"></span>\u201cKME <span class=\"_ _28\"></span>Group <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"></span>2022 <span class=\"_ _28\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _23\"></span></span>20<span class=\"_ _0\"></span>27\u201d, <span class=\"_ _23\"></span>pertanto, <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>risultati <span class=\"_ _23\"></span>definitivi delle <span class=\"_ _2d\"> </span>Offerte, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>ha <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>complessive <span class=\"_ _2d\"> </span>n.<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>63.533.259 <span class=\"_ _2a\"> </span>Obbligazioni <span class=\"_ _2d\"> </span>2022, <span class=\"_ _2d\"> </span>per <span class=\"_ _2a\"> </span>un controvalore complessivo pari ad Eu<span class=\"_ _0\"></span>ro 63,5 milioni; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">della <span class=\"_ _0\"></span>riduzio<span class=\"_ _0\"></span>ne <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>capitale <span class=\"_ _22\"></span>sociale, <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>dell\u2019art. <span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>45 <span class=\"_ _0\"></span>c.c., <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>l\u2019importo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>nominali <span class=\"_ _22\"></span>Euro </span></span>135.000.000,00, <span class=\"_ _2a\"> </span>mediante <span class=\"_ _2d\"> </span>impu<span class=\"_ _0\"></span>tazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>uguale <span class=\"_\"> </span>ammontare <span class=\"_ _2d\"> </span>a <span class=\"_\"> </span>una <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2a\"> </span>disponibile <span class=\"_ _2a\"> </span>del Patrimonio netto, senza annullamento di azioni.<span class=\"_ _0\"></span> Il <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Capitale <span class=\"_ _2b\"></span>Sociale<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 dicembre <span class=\"_ _2b\"></span>2022 \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>Euro<span class=\"_ _0\"></span><span class=\"ff56\"> 200.070.087,67 suddiviso <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>n. <span class=\"_ _2b\"></span>306.937.0<span class=\"_ _0\"></span>71 </span></span></span>azioni <span class=\"_ _2b\"></span>ordinarie <span class=\"_ _29\"></span>(95,27% <span class=\"_ _2b\"></span>sul <span class=\"_ _29\"></span>capitale) <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>n.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>15.246.505<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>risparmio <span class=\"_ _2b\"></span>(4,73% sul <span class=\"_ _2b\"></span>capitale). <span class=\"_ _2b\"></span>Tutte le azioni sono prive di indicazione del valore nominale. <span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019accantonamento <span class=\"_ _8b\"> </span>ad <span class=\"_ _2e\"> </span>apposit<span class=\"_ _0\"></span>a <span class=\"_ _8b\"> </span>riserva <span class=\"_ _2e\"> </span>inclusa <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>\u201cAltre <span class=\"_ _2e\"> </span>riserve\u201d <span class=\"_ _2e\"> </span>dei <span class=\"_ _2e\"> </span>costi <span class=\"_ _8b\"> </span>sui <span class=\"_ _2e\"> </span>Warrant </span>Management <span class=\"_ _2b\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>attuariale <span class=\"_ _29\"></span>effettuato <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>applicazione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>previsioni <span class=\"_ _2b\"></span>dell\u2019IFRS<span class=\"_ _0\"></span> 2. Tali costi sono inclusi nella voce \u201cAltri costi o<span class=\"_ _0\"></span>perativi\u201d.<span class=\"ff56\"> </span>I <span class=\"_ _22\"></span>sudde<span class=\"_ _0\"></span>tti <span class=\"_ _22\"></span>Warrant <span class=\"_ _23\"></span>Management <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>esercitabili <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>28 <span class=\"_ _23\"></span>giugno <span class=\"_ _22\"></span>2024 <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>prezzo <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>esercizio <span class=\"_ _23\"></span>di Euro <span class=\"_ _0\"></span>0,40 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span><span class=\"ff5a\">warrant<span class=\"_ _0\"></span></span>; <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>stati <span class=\"_ _0\"></span>emessi <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>esecuzione <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>delibera <span class=\"_ _22\"></span>assembleare <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>Societ\u00e0 <span class=\"_ _0\"></span>in data <span class=\"_ _3c\"> </span>30 <span class=\"_ _49\"> </span>novembre <span class=\"_ _49\"> </span>2020 <span class=\"_ _49\"> </span>e <span class=\"_ _3c\"> </span>succ<span class=\"_ _0\"></span>essivamente <span class=\"_ _49\"> </span>assegnati <span class=\"_ _49\"> </span>a <span class=\"_ _3c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>appr<span class=\"_ _0\"></span>ovazion<span class=\"_ _0\"></span>e <span class=\"_ _3c\"> </span>da <span class=\"_ _49\"> </span>parte dell\u2019Assemblea ordinaria e straordinaria dell\u20198 giugno 2021 della Politica della Remunerazione per il triennio 2021-2023 e del Piano di Incentivazione Amministratori Esecutivi 2021-2024<span class=\"_ _0\"></span>; sono stati assegnati co<span class=\"_ _0\"></span>mplessivamente <span class=\"_ _0\"></span>n. 37,5<span class=\"_ _0\"></span> milio<span class=\"_ _0\"></span>ni di <span class=\"_ _0\"></span>Warrant <span class=\"_ _0\"></span>Management, <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>n. 25 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>mese di luglio 2021 e n. 12,5 milioni nel mese di giugno 2022.<span class=\"_ _0\"></span> Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto consolida<span class=\"_ _0\"></span>to al 31 dicembre 2022<span class=\"_ _0\"></span><span class=\"ff5d ls3\">\u201d.</span><span class=\"ff56\"> </span>Informazioni sulle azioni proprie Al 31 dicembre 20<span class=\"_ _0\"></span>22 la Societ\u00e0 detiene <span class=\"_ _0\"></span>n. 6.937.311 azioni <span class=\"_ _0\"></span>ordinarie proprie pari al <span class=\"_ _0\"></span>2,26% del capitale ordinario <span class=\"_ _23\"></span>(2,15% <span class=\"_ _22\"></span>sul <span class=\"_ _23\"></span>capitale <span class=\"_ _22\"></span>complessiv<span class=\"_ _0\"></span>o). <span class=\"_ _23\"></span>Non <span class=\"_ _23\"></span>vi <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>movimentazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>questa <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>corso <span class=\"_ _23\"></span>del 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__108": {
   "value": "4.13.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Patrimonio netto di Gruppo Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto<span class=\"ff5d ls3\">\u201d.<span class=\"_ _0\"></span></span><span class=\"ff56\"> </span>La movimentazione del patrimonio netto i<span class=\"_ _0\"></span>nclude gli effetti: \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019allocazione <span class=\"_ _2c\"> </span>dell\u2019ut<span class=\"_ _0\"></span>ile <span class=\"_ _2c\"> </span>di <span class=\"_ _2c\"> </span>esercizio <span class=\"_ _2d\"> </span>annuale <span class=\"_ _2c\"> </span>2021 <span class=\"_ _2c\"> </span>della <span class=\"_ _2c\"> </span>Capogr<span class=\"_ _0\"></span>uppo <span class=\"_ _2c\"> </span>pari <span class=\"_ _2d\"> </span>ad <span class=\"_ _28\"> </span>Euro<span class=\"_ _0\"></span> <span class=\"_ _2c\"> </span>65.306 </span>migliaia, come approvato dall\u2019<span class=\"ff56\">Assemblea degli azionisti del 9 maggio 2022, cos\u00ec destinato: pe<span class=\"_ _29\"></span>r </span>il <span class=\"_ _0\"></span>5%, <span class=\"_ _22\"></span>pari <span class=\"_ _0\"></span>ad <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>3.265 <span class=\"_ _22\"></span>migliaia, <span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>riserva <span class=\"_ _0\"></span>legal<span class=\"_ _0\"></span>e, <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _22\"></span>residuo <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>Euro <span class=\"_ _0\"></span>62.041 <span class=\"_ _22\"></span>migliaia mediante <span class=\"_ _2d\"> </span>accantonamento <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>apposita <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2d\"> </span>indisponibile, <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>sensi <span class=\"_ _2d\"> </span>dell\u2019art. <span class=\"_ _2d\"> </span>6 <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span>D. <span class=\"_ _2d\"> </span>Lgs. 38/2005, <span class=\"_ _2c\"> </span>degli <span class=\"_ _2c\"> </span>utili <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _28\"></span>dall\u2019applicazione <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>criterio <span class=\"_ _2d\"> </span>del <span class=\"_ _2c\"> </span><span class=\"ff5a\">fair <span class=\"_ _2c\"></span>value <span class=\"_ _2c\"> </span><span class=\"ff56\">(in<span class=\"_ _0\"></span>cremento <span class=\"_ _2c\"></span>delle </span></span>\u201cAltre riserve\u201d)<span class=\"ff5a\">;<span class=\"ff56\"> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56 ls1\">de</span><span class=\"ff5d\">ll\u2019operazione <span class=\"_ _2f\"> </span>perseguita <span class=\"_ _2f\"> </span>dalla <span class=\"_ _2f\"> </span>Capogruppo<span class=\"_ _0\"></span> <span class=\"_ _2f\"> </span>relative <span class=\"_ _2f\"> </span>alle <span class=\"_ _2f\"> </span>Offerte <span class=\"_ _2f\"> </span>Pubbliche <span class=\"_ _2f\"> </span>di <span class=\"_ _41\"> </span>Scambio<span class=\"_ _0\"></span><span class=\"ff56\"> </span></span>(\u201cOfferte\u201d)<span class=\"ff56\"> <span class=\"_ _28\"></span>concluse <span class=\"_ _28\"></span>il <span class=\"_ _28\"></span>23 <span class=\"_ _23\"></span>settembre <span class=\"_ _28\"></span>u.s. <span class=\"_ _2c\"></span>la <span class=\"_ _28\"></span>quale <span class=\"_ _28\"></span></span>ha <span class=\"_ _23\"></span>comportato<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>l\u2019annullamento <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>azioni<span class=\"_ _0\"></span> ordinarie, <span class=\"_ _2d\"> </span>azioni <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>risparmio <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>i <span class=\"_ _2a\"> </span>warrant <span class=\"_ _2d\"> </span>portati <span class=\"_ _2d\"> </span>in <span class=\"_ _2a\"> </span>adesione, <span class=\"_ _2d\"> </span>in <span class=\"_ _2d\"> </span>esecuzione <span class=\"_\"> </span>della <span class=\"_ _2d\"> </span>delibera dell\u2019Assemblea <span class=\"_ _2a\"> </span>straordinaria <span class=\"_ _2a\"> </span>della <span class=\"_ _2a\"> </span>Societ\u00e0 <span class=\"_ _2a\"> </span>del <span class=\"_ _2d\"> </span>16<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>giugno <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2d\"> </span>senza <span class=\"_\"> </span>alcuna <span class=\"_ _2a\"> </span>riduzione <span class=\"_ _2a\"> </span>di capitale, con conseguente <span class=\"_ _0\"></span>automatico incremento <span class=\"_ _0\"></span>della \u201cparit\u00e0 cont<span class=\"_ _0\"></span>abile implicita\u201d delle a<span class=\"_ _0\"></span>zioni residue. <span class=\"_ _2d\"> </span>Il <span class=\"_ _2a\"> </span>corrispettivo <span class=\"_ _2d\"> </span>per <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>Offerte <span class=\"_ _2d\"> </span>era <span class=\"_ _2a\"> </span>costituito <span class=\"_ _2d\"> </span>da <span class=\"_ _2a\"> </span>obbligazioni <span class=\"_ _2d\"> </span>rivenienti <span class=\"_ _2d\"> </span>dal <span class=\"_ _2d\"> </span>pr<span class=\"_ _0\"></span>estito obbligazionario <span class=\"_ _23\"></span>\u201cKME <span class=\"_ _28\"></span>Group <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"></span>2022 <span class=\"_ _28\"></span>\u2013<span class=\"ff56\"> <span class=\"_ _23\"></span></span>20<span class=\"_ _0\"></span>27\u201d, <span class=\"_ _23\"></span>pertanto, <span class=\"_ _28\"></span>alla <span class=\"_ _23\"></span>luce <span class=\"_ _23\"></span>dei <span class=\"_ _28\"></span>risultati <span class=\"_ _23\"></span>definitivi delle <span class=\"_ _2d\"> </span>Offerte, <span class=\"_ _2a\"> </span>la <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>ha <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>complessive <span class=\"_ _2d\"> </span>n.<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>63.533.259 <span class=\"_ _2a\"> </span>Obbligazioni <span class=\"_ _2d\"> </span>2022, <span class=\"_ _2d\"> </span>per <span class=\"_ _2a\"> </span>un controvalore complessivo pari ad Eu<span class=\"_ _0\"></span>ro 63,5 milioni; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">della <span class=\"_ _0\"></span>riduzio<span class=\"_ _0\"></span>ne <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>capitale <span class=\"_ _22\"></span>sociale, <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>sensi <span class=\"_ _22\"></span>dell\u2019art. <span class=\"_ _0\"></span>24<span class=\"_ _0\"></span>45 <span class=\"_ _0\"></span>c.c., <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>l\u2019importo <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>nominali <span class=\"_ _22\"></span>Euro </span></span>135.000.000,00, <span class=\"_ _2a\"> </span>mediante <span class=\"_ _2d\"> </span>impu<span class=\"_ _0\"></span>tazione <span class=\"_ _2a\"> </span>di <span class=\"_ _2d\"> </span>uguale <span class=\"_\"> </span>ammontare <span class=\"_ _2d\"> </span>a <span class=\"_\"> </span>una <span class=\"_ _2d\"> </span>riserva <span class=\"_ _2a\"> </span>disponibile <span class=\"_ _2a\"> </span>del Patrimonio netto, senza annullamento di azioni.<span class=\"_ _0\"></span> Il <span class=\"_ _29\"></span>\u201c<span class=\"ff5a\">Capitale <span class=\"_ _2b\"></span>Sociale<span class=\"_ _0\"></span><span class=\"ff5d\">\u201d <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 dicembre <span class=\"_ _2b\"></span>2022 \u00e8 <span class=\"_ _2b\"></span>pari <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>Euro<span class=\"_ _0\"></span><span class=\"ff56\"> 200.070.087,67 suddiviso <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>n. <span class=\"_ _2b\"></span>306.937.0<span class=\"_ _0\"></span>71 </span></span></span>azioni <span class=\"_ _2b\"></span>ordinarie <span class=\"_ _29\"></span>(95,27% <span class=\"_ _2b\"></span>sul <span class=\"_ _29\"></span>capitale) <span class=\"_ _2b\"></span>e <span class=\"_ _2b\"></span>n.<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>15.246.505<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>azioni <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>risparmio <span class=\"_ _2b\"></span>(4,73% sul <span class=\"_ _2b\"></span>capitale). <span class=\"_ _2b\"></span>Tutte le azioni sono prive di indicazione del valore nominale. <span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span><span class=\"ff5d\">dell\u2019accantonamento <span class=\"_ _8b\"> </span>ad <span class=\"_ _2e\"> </span>apposit<span class=\"_ _0\"></span>a <span class=\"_ _8b\"> </span>riserva <span class=\"_ _2e\"> </span>inclusa <span class=\"_ _2e\"> </span>in <span class=\"_ _8b\"> </span>\u201cAltre <span class=\"_ _2e\"> </span>riserve\u201d <span class=\"_ _2e\"> </span>dei <span class=\"_ _2e\"> </span>costi <span class=\"_ _8b\"> </span>sui <span class=\"_ _2e\"> </span>Warrant </span>Management <span class=\"_ _2b\"></span>deriv<span class=\"_ _0\"></span>anti <span class=\"_ _2b\"></span>da <span class=\"_ _29\"></span>calcolo <span class=\"_ _2b\"></span>attuariale <span class=\"_ _29\"></span>effettuato <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>applicazione <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>previsioni <span class=\"_ _2b\"></span>dell\u2019IFRS<span class=\"_ _0\"></span> 2. Tali costi sono inclusi nella voce \u201cAltri costi o<span class=\"_ _0\"></span>perativi\u201d.<span class=\"ff56\"> </span>I <span class=\"_ _22\"></span>sudde<span class=\"_ _0\"></span>tti <span class=\"_ _22\"></span>Warrant <span class=\"_ _23\"></span>Management <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>esercitabili <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>28 <span class=\"_ _23\"></span>giugno <span class=\"_ _22\"></span>2024 <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>prezzo <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>esercizio <span class=\"_ _23\"></span>di Euro <span class=\"_ _0\"></span>0,40 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span><span class=\"ff5a\">warrant<span class=\"_ _0\"></span></span>; <span class=\"_ _0\"></span>sono <span class=\"_ _22\"></span>stati <span class=\"_ _0\"></span>emessi <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>esecuzione <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>delibera <span class=\"_ _22\"></span>assembleare <span class=\"_ _0\"></span>della <span class=\"_ _22\"></span>Societ\u00e0 <span class=\"_ _0\"></span>in data <span class=\"_ _3c\"> </span>30 <span class=\"_ _49\"> </span>novembre <span class=\"_ _49\"> </span>2020 <span class=\"_ _49\"> </span>e <span class=\"_ _3c\"> </span>succ<span class=\"_ _0\"></span>essivamente <span class=\"_ _49\"> </span>assegnati <span class=\"_ _49\"> </span>a <span class=\"_ _3c\"> </span>seguito<span class=\"_ _0\"></span> <span class=\"_ _3c\"> </span>di <span class=\"_ _49\"> </span>appr<span class=\"_ _0\"></span>ovazion<span class=\"_ _0\"></span>e <span class=\"_ _3c\"> </span>da <span class=\"_ _49\"> </span>parte dell\u2019Assemblea ordinaria e straordinaria dell\u20198 giugno 2021 della Politica della Remunerazione per il triennio 2021-2023 e del Piano di Incentivazione Amministratori Esecutivi 2021-2024<span class=\"_ _0\"></span>; sono stati assegnati co<span class=\"_ _0\"></span>mplessivamente <span class=\"_ _0\"></span>n. 37,5<span class=\"_ _0\"></span> milio<span class=\"_ _0\"></span>ni di <span class=\"_ _0\"></span>Warrant <span class=\"_ _0\"></span>Management, <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>n. 25 <span class=\"_ _0\"></span>milioni <span class=\"_ _0\"></span>nel <span class=\"_ _0\"></span>mese di luglio 2021 e n. 12,5 milioni nel mese di giugno 2022.<span class=\"_ _0\"></span> Per <span class=\"_ _2d\"> </span>l\u2019illustrazione <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>variazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>patrimonio <span class=\"_ _2d\"> </span>netto<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>consolidato <span class=\"_ _2d\"> </span>si <span class=\"_ _2d\"> </span>rimanda <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>\u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Prospetto <span class=\"_ _2d\"> </span>delle </span>variazioni del patrimonio netto consolida<span class=\"_ _0\"></span>to al 31 dicembre 2022<span class=\"_ _0\"></span><span class=\"ff5d ls3\">\u201d.</span><span class=\"ff56\"> </span>Informazioni sulle azioni proprie Al 31 dicembre 20<span class=\"_ _0\"></span>22 la Societ\u00e0 detiene <span class=\"_ _0\"></span>n. 6.937.311 azioni <span class=\"_ _0\"></span>ordinarie proprie pari al <span class=\"_ _0\"></span>2,26% del capitale ordinario <span class=\"_ _23\"></span>(2,15% <span class=\"_ _22\"></span>sul <span class=\"_ _23\"></span>capitale <span class=\"_ _22\"></span>complessiv<span class=\"_ _0\"></span>o). <span class=\"_ _23\"></span>Non <span class=\"_ _23\"></span>vi <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>movimentazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>questa <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>corso <span class=\"_ _23\"></span>del 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__111": {
   "value": "Informazioni sulle azioni proprie Al 31 dicembre 20<span class=\"_ _0\"></span>22 la Societ\u00e0 detiene <span class=\"_ _0\"></span>n. 6.937.311 azioni <span class=\"_ _0\"></span>ordinarie proprie pari al <span class=\"_ _0\"></span>2,26% del capitale ordinario <span class=\"_ _23\"></span>(2,15% <span class=\"_ _22\"></span>sul <span class=\"_ _23\"></span>capitale <span class=\"_ _22\"></span>complessiv<span class=\"_ _0\"></span>o). <span class=\"_ _23\"></span>Non <span class=\"_ _23\"></span>vi <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>state <span class=\"_ _22\"></span>movimentazioni <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>questa <span class=\"_ _23\"></span>voce <span class=\"_ _22\"></span>nel <span class=\"_ _23\"></span>corso <span class=\"_ _23\"></span>del 2022.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__113": {
   "value": "4.14.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Benefici ai dipendenti La <span class=\"_ _2b\"></span>voce <span class=\"_ _2b\"></span>\u00e8 <span class=\"_ _2b\"></span>relativa <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span><span class=\"ff5e\">\u201cTra<span class=\"_ _0\"></span>ttamento <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>fine <span class=\"_ _2b\"></span>rappo<span class=\"_ _0\"></span>rto\u201d<span class=\"ff5d\">; <span class=\"_ _2b\"></span>l\u2019importo<span class=\"_ _0\"></span>, <span class=\"_ _2b\"></span>determinato <span class=\"_ _2b\"></span>sulla <span class=\"_ _2b\"></span>base <span class=\"_ _2b\"></span>delle <span class=\"_ _29\"></span>competenze </span></span>maturate <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>fine <span class=\"_ _0\"></span><span class=\"ff5d\">dell\u2019esercizio</span> <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>base <span class=\"_ _22\"></span>alla legg<span class=\"_ _0\"></span>e ed <span class=\"_ _22\"></span>ai con<span class=\"_ _0\"></span>tratti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>lavoro <span class=\"_ _0\"></span>ed <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>principio <span class=\"_ _0\"></span>contabil<span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>IAS <span class=\"_ _0\"></span>19<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>\u00e8 cos\u00ec composto: (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Benefici ai dipendenti 127.588  418  127.170  La movimentazione della voce \u00e8 la seguent<span class=\"_ _0\"></span>e: Variazione 31 dic area di Decrementi/ 31 dic (in migliaia di Euro) Incrementi Versamenti 2021 consolidamento versamenti 2022 IFRS 10 Benefici a dipendenti 418  152.954  3.591  (29.375) 127.588  Si riportano di seguito i <span class=\"ff5d\">pr<span class=\"_ _0\"></span>incipali criteri utilizzati nella valutazione dei \u201c<span class=\"_ _0\"></span><span class=\"ff5a\">Benefici a dipendenti</span><span class=\"ls3\">\u201d:<span class=\"_ _0\"></span></span></span> Criteri generali adottati 31 dic 2022 31 dic 2021 Tasso di attualizzazione 4,14% 0,98% Tasso incremento retribuzi<span class=\"_ _29\"></span>oni future 1,00-5,00% 1,00% Incremento futuro delle prestazi<span class=\"_ _29\"></span>oni 1,95-3,23% 1,95-2,85% Vita lavorativa residua media <span class=\"_ _29\"></span>(anni) 11,1  12,0  Criteri generali adottati Il Gruppo <span class=\"_ _0\"></span>ha dipenden<span class=\"_ _0\"></span>ti in Italia <span class=\"_ _0\"></span>e all\u2019<span class=\"_ _0\"></span>estero<span class=\"_ _0\"></span><span class=\"ff56\">, per <span class=\"_ _0\"></span>lo pi\u00f9 <span class=\"_ _0\"></span>in Germania <span class=\"_ _0\"></span>e Gr<span class=\"_ _0\"></span>an Bretagna; <span class=\"_ _0\"></span>l<span class=\"_ _0\"></span>a maggior <span class=\"_ _0\"></span>parte </span>dei dipen<span class=\"_ _0\"></span>denti del <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>beneficia <span class=\"_ _0\"></span>di pr<span class=\"_ _0\"></span>estazioni <span class=\"_ _0\"></span>pensionistiche, il <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>tipo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>erogazione varia <span class=\"_ _23\"></span>quindi da Paese a Paese in base al contesto giuridico, economico e fiscale nazionale. I piani pensionistici del Gruppo comprendono sia piani a contrib<span class=\"_ _0\"></span>uzione definita sia piani a prestazioni definite.<span class=\"_ _0\"></span> In <span class=\"_\"> </span>Germania <span class=\"_ _2e\"> </span>i <span class=\"_\"> </span>dipenden<span class=\"_ _0\"></span>ti <span class=\"_\"> </span>con <span class=\"_ _8b\"> </span>incarichi <span class=\"_ _8b\"> </span>esecutivi <span class=\"_ _8b\"> </span>han<span class=\"_ _0\"></span>no <span class=\"_\"> </span>diritto <span class=\"_ _8b\"> </span>al <span class=\"_ _2e\"> </span>pagamento <span class=\"_\"> </span>di <span class=\"_ _2e\"> </span>una <span class=\"_\"> </span>prestazione determinata individualmente che diventa esigibile al compimento del 65\u00b0 anno di et\u00e0 o prima, a secon<span class=\"_ _0\"></span>da delle possibilit\u00e0 <span class=\"_\"> </span>previste <span class=\"_ _2a\"> </span>dal <span class=\"_ _2a\"> </span>fondo <span class=\"_\"> </span>ass<span class=\"_ _29\"></span>icurativo <span class=\"_\"> </span>pensionistico <span class=\"_ _2a\"> </span>obbligatorio. <span class=\"_\"> </span>A <span class=\"_ _2d\"> </span>partire <span class=\"_\"> </span>dal <span class=\"_\"> </span>2017 <span class=\"_\"> </span>in <span class=\"_\"> </span>Germ<span class=\"_ _29\"></span>ania <span class=\"_\"> </span><span class=\"ls17\">i </span>dipendenti con incarichi esecutivi <span class=\"_ _0\"></span>ottengono solo impegni per piani a cont<span class=\"_ _0\"></span>ribuzione definita. Per <span class=\"_ _23\"></span>un'ampia <span class=\"_ _23\"></span>percentuale <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>dipendenti <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>previsti <span class=\"_ _23\"></span>piani <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>prestazioni <span class=\"_ _23\"></span>definite <span class=\"_ _23\"></span>a <span class=\"_ _22\"></span>second<span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>della data <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>inizio <span class=\"_ _2b\"></span>del <span class=\"_ _29\"></span>rapporto <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>lavoro con <span class=\"_ _2b\"></span>l'azienda, <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>conformit\u00e0 <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>contratto <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>lavoro, <span class=\"_ _29\"></span>il <span class=\"_ _2b\"></span>cui <span class=\"_ _2b\"></span>importo \u00e8 <span class=\"_ _2b\"></span>calcolato come percentuale del salario pension<span class=\"_ _0\"></span>abile per ogni anno di servizio qualificante<span class=\"_ _0\"></span>.  A <span class=\"_ _0\"></span>partire <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>1\u00b0 <span class=\"_ _22\"></span>gennaio <span class=\"_ _0\"></span>2018, <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>dipendenti <span class=\"_ _0\"></span>riceverann<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>invece <span class=\"_ _0\"></span>un <span class=\"_ _0\"></span>supplemento <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>contribuzione <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>la conversione dello stipendio nell'ambito di un<span class=\"_ _0\"></span> piano a contribuzione definita.<span class=\"_ _0\"></span> Il totale degli obblighi pensionistici derivanti da <span class=\"_ _29\"></span>piani a benefici definiti in Germania ammonta ad Euro<span class=\"_ _29\"></span> 104.804 migliaia al netto delle attivit\u00e0 a <span class=\"_ _0\"></span>servizio del piano che ammontano<span class=\"_ _0\"></span> ad Euro<span class=\"_ _0\"></span> 780 migliaia.  In <span class=\"_ _0\"></span>Gran <span class=\"_ _0\"></span>Bretagna <span class=\"_ _0\"></span>esistono <span class=\"_ _0\"></span>pi<span class=\"_ _0\"></span>ani <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>benefici <span class=\"_ _0\"></span>definiti <span class=\"_ _22\"></span>per i <span class=\"_ _22\"></span>dipendenti che <span class=\"_ _22\"></span>prevedono <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>pagamento <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>una pensione <span class=\"_ _23\"></span>dopo <span class=\"_ _23\"></span>i <span class=\"_ _28\"></span>65 <span class=\"_ _23\"></span>anni. <span class=\"_ _23\"></span>Il <span class=\"_ _23\"></span>piano <span class=\"_ _28\"></span>prevede <span class=\"_ _23\"></span>l'obbligo <span class=\"_ _23\"></span>legale <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>coprire <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>obblighi <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _28\"></span>di importo <span class=\"_ _28\"></span>equivalente. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>attivit\u00e0 <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>piano <span class=\"_ _28\"></span>sono <span class=\"_ _2c\"></span>investite <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>azioni <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>fondi, <span class=\"_ _28\"></span>titoli <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>tasso <span class=\"_ _28\"></span>fisso, <span class=\"_ _28\"></span>immob<span class=\"_ _0\"></span>ili <span class=\"_ _28\"></span>e depositi <span class=\"_ _22\"></span>bancari. <span class=\"_ _22\"></span>L'organo <span class=\"_ _22\"></span>decisio<span class=\"_ _0\"></span>nale <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>ogni <span class=\"_ _23\"></span>caso <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>u<span class=\"_ _22\"></span>n <span class=\"_ _22\"></span>cosiddetto <span class=\"_ _22\"></span>\"Consiglio<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>amministrazione\". <span class=\"_ _22\"></span>Il <span class=\"_ _23\"></span>totale degli <span class=\"_ _22\"></span>obblighi <span class=\"_ _23\"></span>pensionistici <span class=\"_ _22\"></span>derivanti <span class=\"_ _22\"></span>da <span class=\"_ _22\"></span>pi<span class=\"_ _0\"></span>ani <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _23\"></span>definiti <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>Gran <span class=\"_ _23\"></span>Bretagna <span class=\"_ _22\"></span>ammonta <span class=\"_ _22\"></span>a<span class=\"_ _0\"></span>d <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>75.036 migliaia. A questi si contrapp<span class=\"_ _0\"></span>ongono attivit\u00e0 a servizio del piano<span class=\"_ _0\"></span> per un importo di <span class=\"_ _0\"></span>Eu<span class=\"_ _0\"></span>ro <span class=\"ls1\">58.</span>642 migliaia, con un'obbligazione netta di Euro 16.394 <span class=\"_ _0\"></span>migliaia<span class=\"lsb\">. </span> I <span class=\"_ _23\"></span>piani <span class=\"_ _28\"></span>pensionistici <span class=\"_ _28\"></span>definiti <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>Italia <span class=\"_ _23\"></span>in<span class=\"_ _0\"></span>cludono <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>normativa <span class=\"_ _23\"></span>il <span class=\"_ _28\"></span>pagamento <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _28\"></span>capitale <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>base <span class=\"_ _23\"></span>al<span class=\"_ _0\"></span> periodo <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>servizio <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>retribuzione <span class=\"_ _23\"></span>alla <span class=\"_ _23\"></span>c<span class=\"_ _0\"></span>essazione <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>rapp<span class=\"_ _0\"></span>orto <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>lavoro<span class=\"_ _22\"></span> <span class=\"_ _23\"></span>(TFR)<span class=\"lsb\">. <span class=\"_ _23\"></span></span>Il <span class=\"_ _23\"></span>totale <span class=\"_ _28\"></span>degli <span class=\"_ _23\"></span>obblighi pensionistici derivanti dai piani a benefici defini<span class=\"_ _0\"></span>ti in Italia ammonta a<span class=\"_ _0\"></span>d Euro 6.119 migliaia. Rischi connessi ai piani a benefici definiti<span class=\"_ _0\"></span> Il rischio principale, oltre al normale rischio attuariale - che include il rischio di longevit\u00e0 e il rischio di cambio <span class=\"_ _2d\"> </span>- <span class=\"_ _2d\"> </span>riguarda <span class=\"_ _2d\"> </span>il <span class=\"_ _2c\"></span>rischio <span class=\"_ _2d\"> </span>finanziario <span class=\"_ _2d\"> </span>associato <span class=\"_ _2d\"> </span>alle <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>del<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>piano. <span class=\"_ _2d\"> </span>Per <span class=\"_ _2c\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2d\"> </span>riguarda <span class=\"_ _2d\"> </span>le <span class=\"_ _2c\"></span>passivit\u00e0<span class=\"_ _0\"></span> previdenziali, <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>tratta <span class=\"_ _22\"></span>soprattutto <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>inflazione <span class=\"_ _22\"></span>nei <span class=\"_ _0\"></span>piani <span class=\"_ _22\"></span>con <span class=\"_ _22\"></span>prestazioni <span class=\"_ _22\"></span>legate <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>salario; <span class=\"_ _0\"></span>un <span class=\"_ _22\"></span>forte aumento delle retribuzioni aumenterebbe l'obbligo di tali piani. Nel Gruppo<span class=\"_ _0\"></span>, piani di questo tipo esistono solo su scala ridotta e sono in gran parte preclusi ai nuo<span class=\"_ _0\"></span>vi assunti. Per <span class=\"_ _23\"></span>quanto <span class=\"_ _23\"></span>riguarda <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>aumenti <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>pensioni <span class=\"_ _23\"></span>attualmente <span class=\"_ _23\"></span>erogate, <span class=\"_ _23\"></span>all'interno <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gr<span class=\"_ _0\"></span>uppo <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>esiste alcun <span class=\"_ _23\"></span>accordo <span class=\"_ _23\"></span>pensionistico <span class=\"_ _23\"></span>che <span class=\"_ _28\"></span>comporti <span class=\"_ _23\"></span>l'obbligo <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>aumentare <span class=\"_ _23\"></span>l'importo <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>benefici <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>misura <span class=\"_ _23\"></span>superiore all'inflazione o all'eccedenza generata dalle attivit\u00e0 d<span class=\"_ _0\"></span>el piano. Il <span class=\"_ _22\"></span>rendimento <span class=\"_ _22\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>servizio <span class=\"_ _23\"></span>del <span class=\"_ _0\"></span>piano<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>conformit\u00e0 <span class=\"_ _23\"></span>allo <span class=\"_ _22\"></span>IAS <span class=\"_ _22\"></span>19<span class=\"_ _0\"></span>, <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>ipotizzato <span class=\"_ _0\"></span>sulla <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>del tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>sconto <span class=\"_ _22\"></span>dell'obbligazione <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>benefici <span class=\"_ _22\"></span>definiti.<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>Se <span class=\"_ _22\"></span>il <span class=\"_ _22\"></span>tasso <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>rendimento <span class=\"_ _22\"></span>effettivo <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _22\"></span>inferior<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>tasso <span class=\"_ _22\"></span>di sconto, <span class=\"_ _22\"></span>la <span class=\"_ _22\"></span>passivit\u00e0 <span class=\"_ _22\"></span>netta <span class=\"_ _22\"></span>aumenta. <span class=\"_ _22\"></span>Per <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>piani <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>capitalizzazione, <span class=\"_ _22\"></span>tuttavia, <span class=\"_ _22\"></span>soprattutto <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>considera<span class=\"_ _0\"></span>zione <span class=\"_ _22\"></span>della quota <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>attivit\u00e0 <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>servizio del <span class=\"_ _2b\"></span>piano <span class=\"_ _2b\"></span>in<span class=\"_ _0\"></span>vestite <span class=\"_ _2b\"></span>in azioni, <span class=\"_ _2b\"></span>ci <span class=\"_ _29\"></span>aspettiamo <span class=\"_ _2b\"></span>che i <span class=\"_ _2b\"></span>rendimenti <span class=\"_ _29\"></span>a <span class=\"_ _2b\"></span>lungo termine <span class=\"_ _2b\"></span>superino il <span class=\"_ _28\"></span>tasso <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>s<span class=\"_ _0\"></span>conto. <span class=\"_ _28\"></span>Tuttavia, <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>possono <span class=\"_ _28\"></span>escludere <span class=\"_ _28\"></span>fluttuazioni <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>breve <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>medio <span class=\"_ _28\"></span>termine, <span class=\"_ _28\"></span>con <span class=\"_ _28\"></span>un <span class=\"_ _28\"></span>effetto corrispondente <span class=\"_ _28\"></span>sulla <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>netta. <span class=\"_ _23\"></span>A <span class=\"_ _28\"></span>tal <span class=\"_ _28\"></span>proposito <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>state <span class=\"_ _23\"></span>effettuate<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>analisi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>sensitiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _23\"></span>sull<span class=\"_ _0\"></span>a <span class=\"_ _23\"></span>base <span class=\"_ _28\"></span>di alcuni parametri (variazione del tasso d<span class=\"_ _0\"></span>i mortalit\u00e0, tasso di sconto, et\u00e0 di pensionamento)<span class=\"_ _0\"></span>. Ad <span class=\"_ _22\"></span>eccezione <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>pi<span class=\"_ _0\"></span>ano <span class=\"_ _22\"></span>pensionistico <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>Gran <span class=\"_ _23\"></span>Bretagna, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>piani <span class=\"_ _23\"></span>in <span class=\"_ _22\"></span>essere <span class=\"_ _22\"></span><span class=\"ls1\">non <span class=\"_ _22\"></span></span>hanno <span class=\"_ _23\"></span>bisogno <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>essere<span class=\"_ _0\"></span> finanziati in quanto per gli stessi \u00e8 sufficiente <span class=\"_ _0\"></span>dal flusso di cassa corrente.<span class=\"_ _0\"></span> I contributi al <span class=\"_ _29\"></span>piano, nel <span class=\"_ _29\"></span>prossimo esercizio finanziario, dovrebbero <span class=\"_ _29\"></span>ammontare ad Euro <span class=\"_ _29\"></span>5.072 migliaia.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__114": {
   "value": "4.16.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Titoli obbligazionari (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Obbligazioni KME Group S.p.A. 2020/<span class=\"lsf\">2025</span> 92.506  92.372  134  Obbligazioni KME Group S.p.A. 2022/<span class=\"lsf\">2027</span> 63.485   -<span class=\"lsd\">  </span> 63.485  Titoli obbligazionari 155.991  92.372  63.619  La voce si riferisce alle: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Obbligazioni <span class=\"_ _23\"></span>KME <span class=\"_ _28\"></span>Group <span class=\"_ _23\"></span>2020<span class=\"_ _0\"></span>/2025, <span class=\"_ _23\"></span>emesse <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>f<span class=\"_ _0\"></span>ebbraio <span class=\"_ _28\"></span>2020 <span class=\"_ _23\"></span>con <span class=\"_ _28\"></span>un <span class=\"_ _23\"></span>tasso <span class=\"_ _28\"></span>fisso <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>4,5%, <span class=\"_ _28\"></span>in </span></span>circolazione <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>nominali <span class=\"_ _22\"></span>Euro <span class=\"_ _22\"></span>75.854 <span class=\"_ _0\"></span>migliaia <span class=\"_ _22\"></span>a <span class=\"_ _22\"></span>cui <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>aggiunte <span class=\"_ _22\"></span>nel <span class=\"_ _0\"></span>corso<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>20<span class=\"_ _0\"></span>21 <span class=\"_ _0\"></span>ulteriori<span class=\"_ _0\"></span> nominali Euro <span class=\"_ _2b\"></span>16<span class=\"_ _0\"></span>.965 migliaia <span class=\"_ _2b\"></span>emessi in conseguenza <span class=\"_ _2b\"></span>della offerta pubblica <span class=\"_ _29\"></span>di sca<span class=\"_ _29\"></span>mbio sulle <span class=\"_ _2b\"></span>azioni di risparmio. Le obbligazioni in circolazione son<span class=\"_ _0\"></span>o pertanto <span class=\"_ _0\"></span>pari a Euro 92.819 migliaia; \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Obbligazioni <span class=\"_ _23\"></span>KME <span class=\"_ _22\"></span>Grou<span class=\"_ _0\"></span>p <span class=\"_ _23\"></span>2022/2027, <span class=\"_ _23\"></span>emesse <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>settembre <span class=\"_ _23\"></span>2022 <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>un <span class=\"_ _22\"></span>tasso <span class=\"_ _23\"></span>fisso <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>5,0% <span class=\"_ _23\"></span>in </span></span>circolazione <span class=\"_ _0\"></span>per <span class=\"_ _22\"></span>nominali <span class=\"_ _0\"></span>Euro <span class=\"_ _22\"></span>63.533 <span class=\"_ _0\"></span>migliaia <span class=\"_ _0\"></span>in <span class=\"_ _22\"></span>conseguenza <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>of<span class=\"_ _0\"></span>ferte <span class=\"_ _0\"></span>pubbliche <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>scambio su azioni ordinarie, azioni di rispar<span class=\"_ _0\"></span>mio e <span class=\"ff5a\">warrant</span><span class=\"lsb\">. </span> Tutte <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>obbligazioni <span class=\"_ _22\"></span>sono <span class=\"_ _0\"></span>esposte <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>netto <span class=\"_ _22\"></span>dei <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>emissione <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>vengono <span class=\"_ _0\"></span>differiti <span class=\"_ _22\"></span>lungo <span class=\"_ _22\"></span>la <span class=\"_ _0\"></span>durata del titolo in misura tale da determinare un <span class=\"_ _0\"></span>tasso di interesse effettivo costante.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__116-1": {
   "value": "4.17.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altre passivit\u00e0 non correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Debiti per <span class=\"ff5a\">\"special situations\"</span>  -<span class=\"lsd\">  </span> 95  (95) Altri debiti 482  18  464  Altre passivit\u00e0 non correnti 482  113  369  Nell\u2019esercizio <span class=\"_ _2d\"> </span>si <span class=\"_ _28\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _2c\"> </span>completamente <span class=\"_ _2d\"> </span>azzerati <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>\u201cDebiti <span class=\"_ _2c\"> </span>per <span class=\"_ _2d\"> </span>special <span class=\"_ _2c\"> </span>situations\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2c\"></span>che <span class=\"_ _2d\"> </span>erano <span class=\"_ _2c\"></span>originati </span>nell\u2019ambito di assunzione di concordati e si riferivano<span class=\"_ _0\"></span> ad anticipi legati a posizioni ex <span class=\"_ _0\"></span>Fime Leasing. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>La voce al 31 dicembre <span class=\"ls1\">2022</span> \u00e8 relativa a posizioni<span class=\"_ _0\"></span> legate al settore rame.4.20.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altre passivit\u00e0 correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Debiti verso personale e dipe<span class=\"_ _29\"></span>ndenti 21.969  221  21.748  Debiti verso istituti pre<span class=\"_ _29\"></span>videnziali 4.051  91  3.960  Debiti tributari 19.831  126  19.705  Debiti verso amministratori <span class=\"_ _29\"></span>per Trattamento Fine Mandat<span class=\"_ _29\"></span>o 793  769  24  Debiti verso correlate 235  547  (312) Debiti verso clienti 60.426  60.426  Altri debiti 21.975  2.059  19.916  Altre passivit\u00e0 correnti 129.280  3.813  125.467  La voce <span class=\"ff5e\">\u201cDebiti verso dipendenti\u201d<span class=\"_ _0\"></span></span> si riferisce principalmente alle competenze maturate ma <span class=\"_ _0\"></span>non ancora liquidate. La <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _22\"></span><span class=\"ff5e\">\u201cDebiti <span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ri\u201d</span> <span class=\"_ _0\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>afferenti <span class=\"_ _22\"></span>principalmente <span class=\"_ _22\"></span>alle <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>facenti <span class=\"_ _22\"></span>parte <span class=\"_ _22\"></span>nel consolidato fiscale della Capogruppo.<span class=\"_ _0\"></span> I <span class=\"_ _2d\"> </span>\u201cDebiti <span class=\"_ _2d\"> </span>verso <span class=\"_ _2d\"> </span>amministratori <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>Trattamento <span class=\"_ _2d\"> </span>Fine <span class=\"_ _2d\"> </span>Mandato\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2d\"> </span>riferiti <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>residuo <span class=\"_ _2c\"> </span>debito <span class=\"_ _2d\"> </span>nei </span>confronti <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>Presidente <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>trattamento <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>fine <span class=\"_ _22\"></span>mandato <span class=\"_ _22\"></span>maturat<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2012<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 cessato <span class=\"_ _28\"></span>tale <span class=\"_ _23\"></span>istitu<span class=\"_ _0\"></span>to. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>Presidente <span class=\"_ _23\"></span>ha <span class=\"_ _28\"></span>concord<span class=\"_ _0\"></span>ato <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>prorogare <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _28\"></span>2023 <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>scadenza <span class=\"_ _23\"></span>de<span class=\"_ _0\"></span>l pagamento. Nei <span class=\"ff5e\">\u201cDebiti verso correlate\u201d </span>sono <span class=\"_ _0\"></span>compresi i debiti verso amministratori per i compensi <span class=\"_ _0\"></span>maturati. I <span class=\"_ _22\"></span>\u201c<span class=\"ff5a\">Debiti <span class=\"_ _22\"></span>verso <span class=\"_ _22\"></span>clienti<span class=\"_ _0\"></span></span>\u201d <span class=\"_ _22\"></span>comprendono <span class=\"_ _22\"></span>principalmente <span class=\"_ _23\"></span>i <span class=\"_ _0\"></span>pagamenti <span class=\"_ _22\"></span>anticip<span class=\"_ _0\"></span>ati <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span><span class=\"ff56\">clienti, <span class=\"_ _0\"></span>gl<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>accrediti <span class=\"_ _22\"></span>di </span>bonus <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>clienti <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>credito <span class=\"_ _23\"></span>dovuti <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>eccesso. <span class=\"_ _23\"></span>L'aumento <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>dovuto <span class=\"_ _23\"></span>principalmente <span class=\"_ _23\"></span>alla nuova <span class=\"_ _28\"></span>politica <span class=\"_ _23\"></span>d<span class=\"_ _0\"></span><span class=\"ls3\">el</span> <span class=\"_ _28\"></span>pagamento <span class=\"_ _28\"></span>anticipato, <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>clienti, <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>materia <span class=\"_ _28\"></span>prima, <span class=\"_ _28\"></span>imposta <span class=\"_ _28\"></span>quale condizione di vendita. Il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>applica l'espedi<span class=\"_ _0\"></span>ente <span class=\"_ _0\"></span>pratico <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>al paragrafo <span class=\"_ _0\"></span>12<span class=\"_ _0\"></span>1 dell'IFRS <span class=\"_ _0\"></span>15<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>fornisce <span class=\"_ _0\"></span>informazioni sulle obbligazioni residue che hanno una durata originaria prevista d<span class=\"_ _0\"></span>i un anno o meno.<span class=\"_ _0\"></span> L\u2019ammontare <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>voce <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>incrementato <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>secondo <span class=\"_ _0\"></span>sem<span class=\"_ _0\"></span><span class=\"ff56\">estre <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>Eu<span class=\"_ _0\"></span>ro <span class=\"_ _0\"></span>8.391 <span class=\"_ _22\"></span>migliaia <span class=\"_ _22\"></span>relativi </span>alla variazione dell'area di consolidamento Au<span class=\"_ _0\"></span>rubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__115": {
   "value": "4.17.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altre passivit\u00e0 non correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazioni Debiti per <span class=\"ff5a\">\"special situations\"</span>  -<span class=\"lsd\">  </span> 95  (95) Altri debiti 482  18  464  Altre passivit\u00e0 non correnti 482  113  369  Nell\u2019esercizio <span class=\"_ _2d\"> </span>si <span class=\"_ _28\"> </span>son<span class=\"_ _0\"></span>o <span class=\"_ _2c\"> </span>completamente <span class=\"_ _2d\"> </span>azzerati <span class=\"_ _2c\"> </span>i <span class=\"_ _2d\"> </span>\u201cDebiti <span class=\"_ _2c\"> </span>per <span class=\"_ _2d\"> </span>special <span class=\"_ _2c\"> </span>situations\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2c\"></span>che <span class=\"_ _2d\"> </span>erano <span class=\"_ _2c\"></span>originati </span>nell\u2019ambito di assunzione di concordati e si riferivano<span class=\"_ _0\"></span> ad anticipi legati a posizioni ex <span class=\"_ _0\"></span>Fime Leasing. <span class=\"_ _0\"></span><span class=\"ff56\"> </span>La voce al 31 dicembre <span class=\"ls1\">2022</span> \u00e8 relativa a posizioni<span class=\"_ _0\"></span> legate al settore rame.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__117": {
   "value": "4.18.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Fondi per rischi ed oneri (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione 3.543  291  3.252  Fondi per rischi ed oneri <span class=\"_ _29\"></span>non correnti 3.865   -<span class=\"lsd\">  </span> 3.865  Fondi per rischi ed oneri c<span class=\"_ _29\"></span>orrenti Fondi per rischi ed oneri 7.408  291  7.117  Di seguito si fornisce il prospetto riepilogativo<span class=\"_ _0\"></span> dei movimenti relativi <span class=\"_ _0\"></span>ai fondi rischi ed oneri: Fondi rischi Fondi Fondi rischi (in migliaia di Euro) Altri fondi Totale contenziosi fiscali ristrutturazione garanzie  Saldo 01/01/2022 291   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 291  Variazione area   -<span class=\"lsd\">  </span> 4.387  1.107  3.886  9.380  consolidamento IFRS 10 Utilizzi  -<span class=\"lsd\">  </span> (3.087)  -<span class=\"lsd\">  </span> (631) (3.718) Rilasci (291)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (9) (300) Stanziamenti  -<span class=\"lsd\">  </span> 10.441  43  1.562  12.046  Riclassificazioni a IFRS 5  -<span class=\"lsd\">  </span> (10.441)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (10.441) Saldo al 31 dicembre 2022  -<span class=\"lsd\">  </span> 1.300  1.150  4.958  7.408  Di cui quota non corrente  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 3.543  3.543  Di cui quota corrente  -<span class=\"lsd\">  </span> 1.300  1.150  1.415  3.865  I <span class=\"_ _23\"></span>\u201c<span class=\"ff5e\">Fondi <span class=\"_ _23\"></span>rischi <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>tenziosi <span class=\"_ _23\"></span>fiscali\u201d <span class=\"_ _28\"></span><span class=\"ff56\">erano <span class=\"_ _23\"></span>relativi <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>contenziosi <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>materia <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>imposta <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>registro <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>di </span></span>Invim del gruppo Fime, <span class=\"ff5d\">e son<span class=\"_ _0\"></span>o stati rilasciati nell\u2019esercizio</span><span class=\"lsb\">. </span> Gli <span class=\"_ _46\"> </span>altri <span class=\"_ _49\"> </span>accanton<span class=\"_ _0\"></span>amenti <span class=\"_ _46\"> </span>comprendono <span class=\"_ _46\"> </span>principalmente <span class=\"_ _49\"> </span>gli <span class=\"_ _46\"> </span>accantonamenti <span class=\"_ _46\"> </span>per <span class=\"_ _46\"> </span>le <span class=\"_ _49\"> </span>in<span class=\"_ _0\"></span>dennit\u00e0 <span class=\"_ _46\"> </span>di licenziamento <span class=\"_\"> </span>in <span class=\"_\"> </span>caso <span class=\"_ _2a\"> </span>di <span class=\"_ _2a\"> </span>cessazione <span class=\"_\"> </span>del <span class=\"_\"> </span>rapporto <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>lavoro <span class=\"_ _2a\"> </span>e/o <span class=\"_ _2a\"> </span>di <span class=\"_\"> </span>pensionamento <span class=\"_ _2a\"> </span>in <span class=\"_\"> </span>conformit\u00e0 <span class=\"_ _2a\"> </span>con <span class=\"_ _2a\"> </span>la legislazione <span class=\"_ _22\"></span>francese <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>richieste <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>garanzia <span class=\"_ _0\"></span>avanzate <span class=\"_ _23\"></span>dai <span class=\"_ _22\"></span>clienti <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _0\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>ambientale. <span class=\"_ _22\"></span>I <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span>ritti <span class=\"_ _22\"></span>di garanzia dei clienti sono esigibili entro un anno.<span class=\"_ _0\"></span> I <span class=\"_ _23\"></span>\u201c<span class=\"ff5a\">Fondi <span class=\"_ _28\"></span>ristrutturazione<span class=\"ff56\">\" <span class=\"_ _23\"></span>includono<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>come <span class=\"_ _23\"></span>accanton<span class=\"_ _0\"></span>amento <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>conseguenza <span class=\"_ _23\"></span>come <span class=\"_ _28\"></span>riclassificazione </span></span>nella <span class=\"_ _0\"></span>voce <span class=\"_ _22\"></span>\"risultato <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>attivit\u00e0 <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>dismissione\", <span class=\"_ _0\"></span>l'accant<span class=\"_ _0\"></span>onamento, <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>netto<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>degli <span class=\"_ _0\"></span>utilizzi <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>periodo <span class=\"_ _22\"></span>per<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>Eu<span class=\"_ _0\"></span>ro 4,9 <span class=\"_ _28\"></span>milioni, <span class=\"_ _28\"></span>per <span class=\"_ _28\"></span>la <span class=\"_ _23\"></span>chiu<span class=\"_ _0\"></span>sura <span class=\"_ _28\"></span>della <span class=\"_ _23\"></span>pr<span class=\"_ _0\"></span>oduzione <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>tubi <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>Givet <span class=\"_ _28\"></span>annuncia<span class=\"_ _0\"></span>ta <span class=\"_ _28\"></span>nel <span class=\"_ _28\"></span>febbraio <span class=\"_ _28\"></span>2022 <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>Trefimetaux S.A.S.. Gli <span class=\"_ _28\"></span>\"<span class=\"ff5a\">Altri <span class=\"_ _2c\"></span>fondi</span>\" <span class=\"_ _2c\"></span>includono <span class=\"_ _28\"></span>come <span class=\"_ _2c\"></span>accantonamento <span class=\"_ _2c\"> </span>Euro <span class=\"_ _2c\"></span>1,6 <span class=\"_ _2c\"></span>milioni, <span class=\"_ _28\"></span>pr<span class=\"_ _0\"></span>incipalmente <span class=\"_ _28\"></span>legati <span class=\"_ _2c\"></span>al <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> ambientale. Il <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>non <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>attualmente <span class=\"_ _28\"></span>soggetto <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>controversie <span class=\"_ _28\"></span>legali <span class=\"_ _28\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>potrebbero <span class=\"_ _28\"></span>avere <span class=\"_ _28\"></span>un <span class=\"_ _2c\"></span>effetto significativo <span class=\"_ _23\"></span>sul <span class=\"_ _22\"></span>patrimon<span class=\"_ _0\"></span>io <span class=\"_ _23\"></span>netto <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>sui <span class=\"_ _23\"></span>risultati <span class=\"_ _22\"></span>operativi <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo. <span class=\"_ _23\"></span>Nonostante <span class=\"_ _22\"></span>l'ampia <span class=\"_ _23\"></span>serie <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>misure <span class=\"_ _22\"></span>di conformit\u00e0, <span class=\"_ _28\"></span>tuttavia, <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>possibile <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>si <span class=\"_ _28\"></span>verifichino <span class=\"_ _28\"></span>violazioni <span class=\"_ _28\"></span>isolate <span class=\"_ _23\"></span>o <span class=\"_ _28\"></span>che <span class=\"_ _28\"></span>vi <span class=\"_ _28\"></span>siano <span class=\"_ _28\"></span>violazioni <span class=\"_ _28\"></span>storiche <span class=\"_ _28\"></span>non ancora individuate. Alla <span class=\"_ _41\"> </span>data <span class=\"_ _41\"> </span>di<span class=\"_ _0\"></span> <span class=\"_ _41\"> </span>approvazione <span class=\"_ _41\"> </span>del <span class=\"_ _3c\"> </span>presente <span class=\"_ _41\"> </span>bilancio <span class=\"_ _41\"> </span>consolidato<span class=\"_ _0\"></span> <span class=\"_ _41\"> </span>non <span class=\"_ _41\"> </span>esistono, <span class=\"_ _3c\"> </span>a <span class=\"_ _41\"> </span>conoscenza <span class=\"_ _41\"> </span>degli<span class=\"_ _0\"></span> Amministratori, altre passivit\u00e0 potenziali significative.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__118": {
   "value": "4.19.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Debiti verso fornitori (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Debiti verso fornitori terzi 530.577  1.700  528.877  Debiti verso fornitori - entit\u00e0 del gr<span class=\"_ _29\"></span>uppo non consolidate 615  447  168  Debiti verso fornitori - entit\u00e0 a patrim<span class=\"_ _29\"></span>onio netto 9.423   -<span class=\"lsd\">  </span> 9.423  Debiti verso fornitori - altre pa<span class=\"_ _29\"></span>rti correlate 110  91  19  Debiti verso fornitori 540.725  2.238  538.487  . I debiti verso <span class=\"_ _0\"></span>le altre parti correlate <span class=\"_ _0\"></span>sono relativi <span class=\"_ _0\"></span>a debiti verso amministratori <span class=\"_ _0\"></span>e sindaci. Si ritiene <span class=\"_ _0\"></span>che il valore contabile dei debiti commerciali approssimi il <span class=\"_ _0\"></span>loro <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span>. Alla <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>bi<span class=\"_ _0\"></span>lancio, <span class=\"_ _28\"></span>Euro <span class=\"_ _2c\"></span>324.934 <span class=\"_ _28\"></span>migliaia <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _28\"></span>regis<span class=\"_ _0\"></span>trate <span class=\"_ _28\"></span>tra <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>debiti <span class=\"_ _2c\"></span>verso fornitori <span class=\"_ _22\"></span>terzi <span class=\"_ _23\"></span>sono <span class=\"_ _22\"></span>supportate <span class=\"_ _22\"></span>da <span class=\"_ _23\"></span>lettere <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>credito; <span class=\"_ _22\"></span>le <span class=\"_ _22\"></span>lettere <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>credito <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>emesse <span class=\"_ _22\"></span>d<span class=\"_ _0\"></span>alla <span class=\"_ _22\"></span>linea <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>credito <span class=\"_ _22\"></span>in pool<span class=\"ff56 ls0\">. Questi debiti verso fornitori si riferiscono all'acquisto di metallo.<span class=\"_ _0\"></span> </span>Tutti i debiti hanno una durata massima <span class=\"_ _0\"></span>di un anno.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__121": {
   "value": "4.20.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altre passivit\u00e0 correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Debiti verso personale e dipe<span class=\"_ _29\"></span>ndenti 21.969  221  21.748  Debiti verso istituti pre<span class=\"_ _29\"></span>videnziali 4.051  91  3.960  Debiti tributari 19.831  126  19.705  Debiti verso amministratori <span class=\"_ _29\"></span>per Trattamento Fine Mandat<span class=\"_ _29\"></span>o 793  769  24  Debiti verso correlate 235  547  (312) Debiti verso clienti 60.426  60.426  Altri debiti 21.975  2.059  19.916  Altre passivit\u00e0 correnti 129.280  3.813  125.467  La voce <span class=\"ff5e\">\u201cDebiti verso dipendenti\u201d<span class=\"_ _0\"></span></span> si riferisce principalmente alle competenze maturate ma <span class=\"_ _0\"></span>non ancora liquidate. La <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _22\"></span><span class=\"ff5e\">\u201cDebiti <span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ri\u201d</span> <span class=\"_ _0\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>afferenti <span class=\"_ _22\"></span>principalmente <span class=\"_ _22\"></span>alle <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>facenti <span class=\"_ _22\"></span>parte <span class=\"_ _22\"></span>nel consolidato fiscale della Capogruppo.<span class=\"_ _0\"></span> I <span class=\"_ _2d\"> </span>\u201cDebiti <span class=\"_ _2d\"> </span>verso <span class=\"_ _2d\"> </span>amministratori <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>Trattamento <span class=\"_ _2d\"> </span>Fine <span class=\"_ _2d\"> </span>Mandato\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2d\"> </span>riferiti <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>residuo <span class=\"_ _2c\"> </span>debito <span class=\"_ _2d\"> </span>nei </span>confronti <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>Presidente <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>trattamento <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>fine <span class=\"_ _22\"></span>mandato <span class=\"_ _22\"></span>maturat<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2012<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 cessato <span class=\"_ _28\"></span>tale <span class=\"_ _23\"></span>istitu<span class=\"_ _0\"></span>to. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>Presidente <span class=\"_ _23\"></span>ha <span class=\"_ _28\"></span>concord<span class=\"_ _0\"></span>ato <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>prorogare <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _28\"></span>2023 <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>scadenza <span class=\"_ _23\"></span>de<span class=\"_ _0\"></span>l pagamento. Nei <span class=\"ff5e\">\u201cDebiti verso correlate\u201d </span>sono <span class=\"_ _0\"></span>compresi i debiti verso amministratori per i compensi <span class=\"_ _0\"></span>maturati. I <span class=\"_ _22\"></span>\u201c<span class=\"ff5a\">Debiti <span class=\"_ _22\"></span>verso <span class=\"_ _22\"></span>clienti<span class=\"_ _0\"></span></span>\u201d <span class=\"_ _22\"></span>comprendono <span class=\"_ _22\"></span>principalmente <span class=\"_ _23\"></span>i <span class=\"_ _0\"></span>pagamenti <span class=\"_ _22\"></span>anticip<span class=\"_ _0\"></span>ati <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span><span class=\"ff56\">clienti, <span class=\"_ _0\"></span>gl<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>accrediti <span class=\"_ _22\"></span>di </span>bonus <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>clienti <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>credito <span class=\"_ _23\"></span>dovuti <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>eccesso. <span class=\"_ _23\"></span>L'aumento <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>dovuto <span class=\"_ _23\"></span>principalmente <span class=\"_ _23\"></span>alla nuova <span class=\"_ _28\"></span>politica <span class=\"_ _23\"></span>d<span class=\"_ _0\"></span><span class=\"ls3\">el</span> <span class=\"_ _28\"></span>pagamento <span class=\"_ _28\"></span>anticipato, <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>clienti, <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>materia <span class=\"_ _28\"></span>prima, <span class=\"_ _28\"></span>imposta <span class=\"_ _28\"></span>quale condizione di vendita. Il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>applica l'espedi<span class=\"_ _0\"></span>ente <span class=\"_ _0\"></span>pratico <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>al paragrafo <span class=\"_ _0\"></span>12<span class=\"_ _0\"></span>1 dell'IFRS <span class=\"_ _0\"></span>15<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>fornisce <span class=\"_ _0\"></span>informazioni sulle obbligazioni residue che hanno una durata originaria prevista d<span class=\"_ _0\"></span>i un anno o meno.<span class=\"_ _0\"></span> L\u2019ammontare <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>voce <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>incrementato <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>secondo <span class=\"_ _0\"></span>sem<span class=\"_ _0\"></span><span class=\"ff56\">estre <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>Eu<span class=\"_ _0\"></span>ro <span class=\"_ _0\"></span>8.391 <span class=\"_ _22\"></span>migliaia <span class=\"_ _22\"></span>relativi </span>alla variazione dell'area di consolidamento Au<span class=\"_ _0\"></span>rubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__119": {
   "value": "4.20.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Altre passivit\u00e0 correnti (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Debiti verso personale e dipe<span class=\"_ _29\"></span>ndenti 21.969  221  21.748  Debiti verso istituti pre<span class=\"_ _29\"></span>videnziali 4.051  91  3.960  Debiti tributari 19.831  126  19.705  Debiti verso amministratori <span class=\"_ _29\"></span>per Trattamento Fine Mandat<span class=\"_ _29\"></span>o 793  769  24  Debiti verso correlate 235  547  (312) Debiti verso clienti 60.426  60.426  Altri debiti 21.975  2.059  19.916  Altre passivit\u00e0 correnti 129.280  3.813  125.467  La voce <span class=\"ff5e\">\u201cDebiti verso dipendenti\u201d<span class=\"_ _0\"></span></span> si riferisce principalmente alle competenze maturate ma <span class=\"_ _0\"></span>non ancora liquidate. La <span class=\"_ _0\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _22\"></span><span class=\"ff5e\">\u201cDebiti <span class=\"_ _0\"></span>tributa<span class=\"_ _0\"></span>ri\u201d</span> <span class=\"_ _0\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>afferenti <span class=\"_ _22\"></span>principalmente <span class=\"_ _22\"></span>alle <span class=\"_ _22\"></span>societ\u00e0 <span class=\"_ _22\"></span>del <span class=\"_ _0\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _0\"></span>non <span class=\"_ _22\"></span>facenti <span class=\"_ _22\"></span>parte <span class=\"_ _22\"></span>nel consolidato fiscale della Capogruppo.<span class=\"_ _0\"></span> I <span class=\"_ _2d\"> </span>\u201cDebiti <span class=\"_ _2d\"> </span>verso <span class=\"_ _2d\"> </span>amministratori <span class=\"_ _2d\"> </span>per <span class=\"_ _2c\"> </span>Trattamento <span class=\"_ _2d\"> </span>Fine <span class=\"_ _2d\"> </span>Mandato\u201d<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2d\"> </span>sono <span class=\"_ _2d\"> </span>riferiti <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>residuo <span class=\"_ _2c\"> </span>debito <span class=\"_ _2d\"> </span>nei </span>confronti <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>Presidente <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>il <span class=\"_ _22\"></span>trattamento <span class=\"_ _22\"></span>di <span class=\"_ _23\"></span>fine <span class=\"_ _22\"></span>mandato <span class=\"_ _22\"></span>maturat<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>fino <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _23\"></span>2012<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>data <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>cui <span class=\"_ _23\"></span>\u00e8 cessato <span class=\"_ _28\"></span>tale <span class=\"_ _23\"></span>istitu<span class=\"_ _0\"></span>to. <span class=\"_ _28\"></span>Il <span class=\"_ _28\"></span>Presidente <span class=\"_ _23\"></span>ha <span class=\"_ _28\"></span>concord<span class=\"_ _0\"></span>ato <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>prorogare <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>31 <span class=\"_ _28\"></span>dicembre <span class=\"_ _28\"></span>2023 <span class=\"_ _28\"></span>la <span class=\"_ _28\"></span>data <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>scadenza <span class=\"_ _23\"></span>de<span class=\"_ _0\"></span>l pagamento. Nei <span class=\"ff5e\">\u201cDebiti verso correlate\u201d </span>sono <span class=\"_ _0\"></span>compresi i debiti verso amministratori per i compensi <span class=\"_ _0\"></span>maturati. I <span class=\"_ _22\"></span>\u201c<span class=\"ff5a\">Debiti <span class=\"_ _22\"></span>verso <span class=\"_ _22\"></span>clienti<span class=\"_ _0\"></span></span>\u201d <span class=\"_ _22\"></span>comprendono <span class=\"_ _22\"></span>principalmente <span class=\"_ _23\"></span>i <span class=\"_ _0\"></span>pagamenti <span class=\"_ _22\"></span>anticip<span class=\"_ _0\"></span>ati <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span><span class=\"ff56\">clienti, <span class=\"_ _0\"></span>gl<span class=\"_ _0\"></span>i <span class=\"_ _22\"></span>accrediti <span class=\"_ _22\"></span>di </span>bonus <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>clienti <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>saldi <span class=\"_ _28\"></span>di <span class=\"_ _23\"></span>credito <span class=\"_ _23\"></span>dovuti <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>in <span class=\"_ _28\"></span>eccesso. <span class=\"_ _23\"></span>L'aumento <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>dovuto <span class=\"_ _23\"></span>principalmente <span class=\"_ _23\"></span>alla nuova <span class=\"_ _28\"></span>politica <span class=\"_ _23\"></span>d<span class=\"_ _0\"></span><span class=\"ls3\">el</span> <span class=\"_ _28\"></span>pagamento <span class=\"_ _28\"></span>anticipato, <span class=\"_ _28\"></span>da <span class=\"_ _28\"></span>parte <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>clienti, <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>costo <span class=\"_ _28\"></span>della <span class=\"_ _28\"></span>materia <span class=\"_ _28\"></span>prima, <span class=\"_ _28\"></span>imposta <span class=\"_ _28\"></span>quale condizione di vendita. Il <span class=\"_ _0\"></span>Gruppo <span class=\"_ _0\"></span>applica l'espedi<span class=\"_ _0\"></span>ente <span class=\"_ _0\"></span>pratico <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>cui <span class=\"_ _0\"></span>al paragrafo <span class=\"_ _0\"></span>12<span class=\"_ _0\"></span>1 dell'IFRS <span class=\"_ _0\"></span>15<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>e non <span class=\"_ _0\"></span>fornisce <span class=\"_ _0\"></span>informazioni sulle obbligazioni residue che hanno una durata originaria prevista d<span class=\"_ _0\"></span>i un anno o meno.<span class=\"_ _0\"></span> L\u2019ammontare <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>voce <span class=\"_ _22\"></span>si <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _0\"></span>incrementato <span class=\"_ _22\"></span>nel <span class=\"_ _22\"></span>secondo <span class=\"_ _0\"></span>sem<span class=\"_ _0\"></span><span class=\"ff56\">estre <span class=\"_ _22\"></span>2022 <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>Eu<span class=\"_ _0\"></span>ro <span class=\"_ _0\"></span>8.391 <span class=\"_ _22\"></span>migliaia <span class=\"_ _22\"></span>relativi </span>alla variazione dell'area di consolidamento Au<span class=\"_ _0\"></span>rubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__123": {
   "value": "4.21.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Imposte differite attive e passive (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Imposte differite attive 88.478  2.762  85.716  Imposte differite passive (117.752) (2.221) (115.531) Imposte differite attive (pass<span class=\"_ _29\"></span>ive) nette  (29.274) 541  (29.815) Di seguito si fornisce il dettaglio della fiscalit\u00e0 differit<span class=\"_ _0\"></span>a attiva e passiva suddivisa per voce di bilancio:<span class=\"_ _22\"></span> Imposte differite attive Imposte differite passive (in migliaia di Euro) 31 dic 2022 31 dic 2021 31 dic 2022 31 dic 2021 Differenze temporanee Immobili, impianti e macc<span class=\"_ _29\"></span>hinari 3.089   -<span class=\"lsd\">  </span> (84.146)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Investimenti immobiliari 5.209  9 <span class=\"ls0\"> </span>(2.970)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 immateriali 1.937   -<span class=\"lsd\">  </span> (19.514)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Partecipazioni 512   -<span class=\"lsd\">  </span> (529) (1.602) Altre attivit\u00e0 non correnti 14   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (57)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Rimanenze 602   -<span class=\"lsd\">  </span> (21.026)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Crediti commerciali 2.410  1.370  (687) (619) Attivit\u00e0 finanziarie correnti 1 <span class=\"ls0\"> </span>34  (1.838)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri crediti e attivit<span class=\"_ _29\"></span>\u00e0 correnti 186   -<span class=\"lsd\">  </span> (65)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (1)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.075)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 non correnti possedut<span class=\"_ _29\"></span>e per la vendita Benefici a dipendenti 1.210   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti 1.665   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Titoli obbligazionari  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 non correnti 37   -<span class=\"lsd\">  </span> (54)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Fondi per rischi ed oneri 1.548   -<span class=\"lsd\">  </span> (4.475)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti 1.448   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti verso fornitori  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (733)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 correnti 1.379  515  (167)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite su compone<span class=\"_ _29\"></span>nti di patrimonio netto  -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite su perdite fis<span class=\"_ _29\"></span>cali pregresse 87.854  704   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Totale 109.101  2.762  (138.337) (2.221) Rettifiche (20.623)  -<span class=\"lsd\">  </span> 20.585   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite attive (pass<span class=\"_ _29\"></span>ive)  88.478  2.762  (117.752) (2.221)",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__122": {
   "value": "4.21.<span class=\"ff5f\"> <span class=\"_ _e0\"> </span></span>Imposte differite attive e passive (in migliaia di Euro) 31 dic 2022 31 dic 2021 Variazione Imposte differite attive 88.478  2.762  85.716  Imposte differite passive (117.752) (2.221) (115.531) Imposte differite attive (pass<span class=\"_ _29\"></span>ive) nette  (29.274) 541  (29.815) Di seguito si fornisce il dettaglio della fiscalit\u00e0 differit<span class=\"_ _0\"></span>a attiva e passiva suddivisa per voce di bilancio:<span class=\"_ _22\"></span> Imposte differite attive Imposte differite passive (in migliaia di Euro) 31 dic 2022 31 dic 2021 31 dic 2022 31 dic 2021 Differenze temporanee Immobili, impianti e macc<span class=\"_ _29\"></span>hinari 3.089   -<span class=\"lsd\">  </span> (84.146)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Investimenti immobiliari 5.209  9 <span class=\"ls0\"> </span>(2.970)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 immateriali 1.937   -<span class=\"lsd\">  </span> (19.514)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Partecipazioni 512   -<span class=\"lsd\">  </span> (529) (1.602) Altre attivit\u00e0 non correnti 14   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (57)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Rimanenze 602   -<span class=\"lsd\">  </span> (21.026)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Crediti commerciali 2.410  1.370  (687) (619) Attivit\u00e0 finanziarie correnti 1 <span class=\"ls0\"> </span>34  (1.838)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri crediti e attivit<span class=\"_ _29\"></span>\u00e0 correnti 186   -<span class=\"lsd\">  </span> (65)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (1)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.075)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Attivit\u00e0 non correnti possedut<span class=\"_ _29\"></span>e per la vendita Benefici a dipendenti 1.210   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti 1.665   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Titoli obbligazionari  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 non correnti 37   -<span class=\"lsd\">  </span> (54)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Fondi per rischi ed oneri 1.548   -<span class=\"lsd\">  </span> (4.475)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti 1.448   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti verso fornitori  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (733)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 correnti 1.379  515  (167)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite su compone<span class=\"_ _29\"></span>nti di patrimonio netto  -<span class=\"lsd\">  </span> 130   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite su perdite fis<span class=\"_ _29\"></span>cali pregresse 87.854  704   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Totale 109.101  2.762  (138.337) (2.221) Rettifiche (20.623)  -<span class=\"lsd\">  </span> 20.585   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Imposte differite attive (pass<span class=\"_ _29\"></span>ive)  88.478  2.762  (117.752) (2.221)",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__124": {
   "value": "5.1.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Ricavi delle vendi<span class=\"_ _0\"></span>te e delle prestazioni di servizi<span class=\"_ _0\"></span> Il dettaglio della voce \u00e8 il seguente: (in migliaia di Euro) 2022 2021 157.494   - Italia 1.020.038   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Europa 73.071   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Asia 112.985   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>America 36.996   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri Paesi Ricavi delle vendite e pres<span class=\"_ _29\"></span>tazioni di servizi 1.400.584   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>I <span class=\"_ _23\"></span>ricavi <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>gruppo <span class=\"_ _23\"></span>KME <span class=\"_ _23\"></span>SE <span class=\"_ _22\"></span>conflu<span class=\"_ _0\"></span>iti <span class=\"_ _23\"></span>nei <span class=\"_ _22\"></span>saldi <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>conto <span class=\"_ _23\"></span>economico <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>presente <span class=\"_ _23\"></span>bilancio <span class=\"_ _23\"></span>consolidato semestrale sono pari a <span class=\"_ _29\"></span>Euro 1.384 migliaia e <span class=\"_ _2b\"></span>deriv<span class=\"_ _0\"></span>ano principalmente dalla vendita di <span class=\"_ _29\"></span>prodotti in rame <span class=\"_ _29\"></span>e leghe di rame. <span class=\"_ _2b\"></span>La ripartizione dei <span class=\"_ _29\"></span>ricavi <span class=\"_ _29\"></span>\u00e8 stata <span class=\"_ _2b\"></span>e<span class=\"_ _0\"></span>ffettuata in <span class=\"_ _2b\"></span>b<span class=\"_ _0\"></span>ase all'ubicazione <span class=\"_ _29\"></span>dei clienti. <span class=\"_ _29\"></span>La <span class=\"_ _29\"></span>parte residua <span class=\"_ _29\"></span>\u00e8 <span class=\"_ _29\"></span>relativa a CULTI Milano. Nell'esercizio, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>Grup<span class=\"_ _0\"></span>po <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>realizzato <span class=\"_ _22\"></span>con <span class=\"_ _0\"></span>alcun <span class=\"_ _0\"></span>cliente <span class=\"_ _0\"></span>vendite <span class=\"_ _0\"></span>superiori <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>10% <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>vendite <span class=\"_ _22\"></span>del Gruppo. I ricavi totali sono stati <span class=\"_ _0\"></span>iscritti in funzione del trasferimento d<span class=\"_ _0\"></span>ei beni in un determinato momento.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__125": {
   "value": "5.2.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Altri proventi (in migliaia di Euro) 2022 2021 Altri proventi 10.862  1.007  La <span class=\"_ _23\"></span>vo<span class=\"_ _0\"></span>ce <span class=\"_ _23\"></span>includ<span class=\"_ _0\"></span>e: <span class=\"_ _28\"></span>Euro <span class=\"_ _23\"></span>1,1 <span class=\"_ _28\"></span>milioni <span class=\"_ _28\"></span>relativi <span class=\"_ _23\"></span>a <span class=\"_ _28\"></span>riduzioni <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>costo <span class=\"_ _23\"></span>dell\u2019energia <span class=\"_ _28\"></span>elettrica <span class=\"_ _28\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _28\"></span>relative imposte, <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>1,0 <span class=\"_ _23\"></span>milioni <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>contributi <span class=\"_ _22\"></span>governativi, <span class=\"_ _23\"></span>Euro <span class=\"_ _23\"></span>0,4 <span class=\"_ _22\"></span>milioni <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>affitti <span class=\"_ _23\"></span>attivi, <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>0,3 <span class=\"_ _23\"></span>milioni <span class=\"_ _22\"></span>per<span class=\"_ _0\"></span> rimborsi assicurativi ed Euro 0,2 <span class=\"_ _0\"></span>milioni per ripristino di svalutazioni di crediti.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__127": {
   "value": "5.3.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Costo del la<span class=\"_ _0\"></span>voro (in migliaia di Euro) 2022 2021 Salari e stipendi (99.139) (965) Oneri sociali (21.734) (321) Altri costi del personale (2.532) (581) Costo del lavoro (123.405) (1.867) La maggior parte delle spese per il <span class=\"_ _29\"></span>personale riguarda le retribuzioni, che comprendono salari, <span class=\"_ _29\"></span>stipendi, indennit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>tutti <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>compensi <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>lavoro <span class=\"_ _23\"></span>svolto <span class=\"_ _23\"></span>dai <span class=\"_ _23\"></span>dipendenti <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>nell'esercizio. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>contributi obbligatori <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>Societ\u00e0, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>particola<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>contributi <span class=\"_ _23\"></span>previdenziali, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>riportati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>voce <span class=\"_ _23\"></span>contributi previdenziali. Le <span class=\"_ _29\"></span>spese <span class=\"_ _29\"></span>per <span class=\"_ _29\"></span>le <span class=\"_ _29\"></span>prestazioni pensionistiche <span class=\"_ _2b\"></span>si riferiscono <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>personale <span class=\"_ _29\"></span>attivo <span class=\"_ _29\"></span>ed <span class=\"_ _29\"></span>ex <span class=\"_ _29\"></span>o <span class=\"_ _29\"></span>ai <span class=\"_ _29\"></span>loro <span class=\"_ _29\"></span>superstiti. <span class=\"_ _29\"></span>Tali spese <span class=\"_ _0\"></span>compre<span class=\"_ _0\"></span>ndono <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>pensionistici <span class=\"_ _22\"></span>periodici <span class=\"_ _0\"></span>netti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cont<span class=\"_ _0\"></span>ributi <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>datore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>lavoro <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>piani <span class=\"_ _22\"></span>pensionistici integrativi aziendali e i pagamenti delle prestazioni p<span class=\"_ _0\"></span>ensionistiche.  Qui di seguito si riporta il numero medio dei dip<span class=\"_ _0\"></span>endenti del Grup<span class=\"_ _0\"></span>po: 31/12/2022 31/12/2021 Variazione Totale addetti (medio) 1.865  13  1.677",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__126": {
   "value": "5.3.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Costo del la<span class=\"_ _0\"></span>voro (in migliaia di Euro) 2022 2021 Salari e stipendi (99.139) (965) Oneri sociali (21.734) (321) Altri costi del personale (2.532) (581) Costo del lavoro (123.405) (1.867) La maggior parte delle spese per il <span class=\"_ _29\"></span>personale riguarda le retribuzioni, che comprendono salari, <span class=\"_ _29\"></span>stipendi, indennit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>tutti <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _23\"></span>compensi <span class=\"_ _23\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>lavoro <span class=\"_ _23\"></span>svolto <span class=\"_ _23\"></span>dai <span class=\"_ _23\"></span>dipendenti <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>Gruppo <span class=\"_ _22\"></span>nell'esercizio. <span class=\"_ _23\"></span>I <span class=\"_ _23\"></span>contributi obbligatori <span class=\"_ _22\"></span>a <span class=\"_ _23\"></span>carico <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>Societ\u00e0, <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>particola<span class=\"_ _0\"></span>re <span class=\"_ _23\"></span>i <span class=\"_ _22\"></span>contributi <span class=\"_ _23\"></span>previdenziali, <span class=\"_ _22\"></span>sono <span class=\"_ _22\"></span>riportati <span class=\"_ _23\"></span>alla <span class=\"_ _22\"></span>voce <span class=\"_ _23\"></span>contributi previdenziali. Le <span class=\"_ _29\"></span>spese <span class=\"_ _29\"></span>per <span class=\"_ _29\"></span>le <span class=\"_ _29\"></span>prestazioni pensionistiche <span class=\"_ _2b\"></span>si riferiscono <span class=\"_ _29\"></span>al <span class=\"_ _29\"></span>personale <span class=\"_ _29\"></span>attivo <span class=\"_ _29\"></span>ed <span class=\"_ _29\"></span>ex <span class=\"_ _29\"></span>o <span class=\"_ _29\"></span>ai <span class=\"_ _29\"></span>loro <span class=\"_ _29\"></span>superstiti. <span class=\"_ _29\"></span>Tali spese <span class=\"_ _0\"></span>compre<span class=\"_ _0\"></span>ndono <span class=\"_ _22\"></span>i <span class=\"_ _0\"></span>costi <span class=\"_ _22\"></span>pensionistici <span class=\"_ _22\"></span>periodici <span class=\"_ _0\"></span>netti, <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>cont<span class=\"_ _0\"></span>ributi <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>datore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>lavoro <span class=\"_ _0\"></span>ai <span class=\"_ _22\"></span>piani <span class=\"_ _22\"></span>pensionistici integrativi aziendali e i pagamenti delle prestazioni p<span class=\"_ _0\"></span>ensionistiche.  Qui di seguito si riporta il numero medio dei dip<span class=\"_ _0\"></span>endenti del Grup<span class=\"_ _0\"></span>po: 31/12/2022 31/12/2021 Variazione Totale addetti (medio) 1.865  13  1.677",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__128": {
   "value": "5.4.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Altri costi operativi<span class=\"_ _0\"></span> (in migliaia di Euro) 2022 2021 Emolumenti amministratori e<span class=\"_ _29\"></span> sindaci (4.447) (1.228) Prestazioni professionali (17.538) (1.543) Trasporti (26.994) (375) Altri costi per il personale (3.940) (2) Pubblicit\u00e0 legale e societaria (1.163) (108) Elettricit\u00e0, riscaldamento, pos<span class=\"_ _29\"></span>tali e telefoniche (41.330) (41) Premi assicurativi (7.568) (90) Locazioni immobiliari (2.036) (265) Manutenzioni (17.837) (40) Canoni di leasing e noleggi (507) (16) Oneri tributari diversi (1.771) (37) Contributi associativi (252) (232) Costi diversi netti (10.322) (250) Beneficenze (482) (26) Oneri per servizi da banche (444) (8) Minusvalenze su cessione immobil<span class=\"_ _29\"></span>i 597   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(136.034) (4.261) Commissioni (4.956)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Rilascio fondi 291   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Accantonamento a fon<span class=\"_ _29\"></span>di rischi (10.492)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Costi di produzione e vendit<span class=\"_ _29\"></span>a (5.734)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Oneri su <span class=\"ff5a\">Warrant Management</span> (2.085) (540) Altri costi operativi (159.010) (4.801) Tra <span class=\"_ _2d\"> </span>le <span class=\"_ _2d\"> </span>locazio<span class=\"_ _0\"></span>ni <span class=\"_ _2d\"> </span>immobiliari <span class=\"_ _2a\"> </span>figurano <span class=\"_ _2d\"> </span>Euro <span class=\"_ _2a\"> </span>268 <span class=\"_ _2d\"> </span>migliaia <span class=\"_ _2d\"> </span>verso <span class=\"_ _2a\"> </span>parti <span class=\"_ _2d\"> </span>correlate <span class=\"_ _2d\"> </span>relativi <span class=\"_ _2d\"> </span>ai <span class=\"_ _2a\"> </span>costi <span class=\"_ _2d\"> </span>di locazione immobiliare sostenuti dalla Capo<span class=\"_ _0\"></span>gruppo e non elisi in consolidato.<span class=\"_ _0\"></span> Gli <span class=\"_ _2d\"> </span>\u201cOneri <span class=\"_ _2c\"> </span>s<span class=\"_ _0\"></span>u <span class=\"_ _2d\"> </span>Warrant <span class=\"_ _2d\"> </span>Management\u201d, <span class=\"_ _2c\"> </span>facenti <span class=\"_ _2d\"> </span>capo <span class=\"_ _2d\"> </span>alla <span class=\"_ _2d\"> </span>Capogruppo, <span class=\"_ _2d\"> </span>accolgono <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"> </span>effetti <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>calcol<span class=\"_ _0\"></span><span class=\"ff56 ls65\">o </span>attuariale <span class=\"_ _29\"></span>in <span class=\"_ _2b\"></span>app<span class=\"_ _0\"></span>licazione <span class=\"_ _29\"></span>delle <span class=\"_ _2b\"></span>previsioni dell\u2019IFRS <span class=\"_ _2b\"></span>2 e <span class=\"_ _2b\"></span>hanno come <span class=\"_ _2b\"></span>contropartita <span class=\"_ _29\"></span>un <span class=\"_ _29\"></span>incremento <span class=\"_ _2b\"></span>di patrimonio netto <span class=\"_ _0\"></span>(per <span class=\"_ _0\"></span>ulteriori <span class=\"_ _0\"></span>dettagli <span class=\"_ _0\"></span>circa <span class=\"_ _0\"></span>l\u2019assegnazione <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span><span class=\"ff5a\">Warrant <span class=\"_ _0\"></span>Management<span class=\"ff56\"> <span class=\"_ _0\"></span>si <span class=\"_ _0\"></span>rimanda <span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>qua<span class=\"_ _0\"></span>nto <span class=\"_ _0\"></span>riportato <span class=\"_ _0\"></span>nella </span></span>nota esplicativa 4.13).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__136": {
   "value": "5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__135": {
   "value": "5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__134": {
   "value": "5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__133": {
   "value": "5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__132": {
   "value": "5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__131": {
   "value": "5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__130": {
   "value": "5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__129": {
   "value": "5.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Oneri finanzi<span class=\"_ _0\"></span>ari netti (in migliaia di Euro) 2022 2021 Interessi attivi correlate 961  203  Interessi attivi 2.490  89  Commissioni su garanzie presta<span class=\"_ _29\"></span>te (correlate) 287  865  Proventi su cambi e derivati 1.123   - Altri proventi attivi 46.722   - Totale proventi finanziari 51.583  1.157  Interessi passivi a correlate (38) (30) Interessi passivi (7.466) (382) Interessi passivi su titoli emes<span class=\"_ _29\"></span>si (9.656) (3.940) Commissioni passive su garanz<span class=\"_ _29\"></span>ie e finanziamenti (12.634)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Perdite su cambi e derivati (3.625)  - Altri oneri finanziari (138) (23) Totale oneri finanziari (33.557) (4.375) Totale oneri finanziari ne<span class=\"_ _29\"></span>tti 18.026  (3.218) Gli <span class=\"_ _23\"></span><span class=\"ff5a\">\"Altri <span class=\"_ _22\"></span>proventi <span class=\"_ _23\"></span>finanziari\"</span> <span class=\"_ _23\"></span>includono <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _22\"></span>46.437 <span class=\"_ _23\"></span>migliaia <span class=\"_ _23\"></span>l'impatto <span class=\"_ _22\"></span>dell'avviamento <span class=\"_ _23\"></span>negativo rilevato <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>seguito <span class=\"_ _28\"></span>dell'<span class=\"_ _0\"></span>esercizio <span class=\"_ _28\"></span>della <span class=\"_ _2c\"></span>Purchase <span class=\"_ _28\"></span>Price <span class=\"_ _2c\"></span>Allocation, <span class=\"_ _2c\"></span>effettuata <span class=\"_ _28\"></span>seco<span class=\"_ _0\"></span>ndo <span class=\"_ _28\"></span>i <span class=\"_ _2c\"></span>requisiti <span class=\"_ _28\"></span>dell'IFRS <span class=\"_ _2c\"></span>3, rispetto al patrimonio netto del ramo d'azienda acqui<span class=\"_ _0\"></span>sito da Aurubis.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__137": {
   "value": "5.6.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Risultato p<span class=\"_ _0\"></span>artecipazioni Il dettaglio della voce \u00e8 il seguente: (in migliaia di Euro) 2022 2021 Risultato partecipate a patrim<span class=\"_ _29\"></span>onio netto (10.285) -<span class=\"lsb\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span> (57) Utili/Perdite cessione quote di<span class=\"_ _29\"></span> fondi e titoli 9.077  72.970  Valutazione a <span class=\"ff5a\">fair value</span> di parteci<span class=\"_ _29\"></span>pazioni 1.013  475  Dividendi Risultato partecipazioni (195) 73.388  Il <span class=\"_ _23\"></span>\u201c<span class=\"ff5a\">risultato <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>partecipate <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>patrimonio <span class=\"_ _23\"></span>netto</span>\u201d, <span class=\"_ _23\"></span>neg<span class=\"_ _0\"></span>ativo <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>Euro <span class=\"_ _23\"></span>10.285 <span class=\"_ _23\"></span>migliaia, <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>relativo<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>alle partecipazioni afferenti al gruppo KME SE (KMD e <span class=\"_ _0\"></span>Magnet).<span class=\"_ _0\"></span> La voce <span class=\"_ _2b\"></span>\u201c<span class=\"ff5a\">Valutazion<span class=\"_ _0\"></span>i a <span class=\"_ _2b\"></span>fair value <span class=\"_ _29\"></span>di partecipazioni<span class=\"ff5d\">\u201d <span class=\"_ _29\"></span>riflette <span class=\"_ _29\"></span>l\u2019effetto della <span class=\"_ _2b\"></span>valutazione al <span class=\"ff5a\">fair <span class=\"_ _2b\"></span>value<span class=\"ff56\"> delle </span></span></span></span>partecipazioni di controllo d<span class=\"_ _0\"></span>etenute dalla Capogrup<span class=\"_ _0\"></span>po la quale applicava <span class=\"_ _0\"></span>sino al 22 <span class=\"_ _0\"></span>aprile 2022 l\u2019eccezione al consolidamento <span class=\"_ _2e\"> </span>prevista <span class=\"_ _2f\"> </span>dal <span class=\"_ _2e\"> </span>par. <span class=\"_ _2e\"> </span>31 <span class=\"_ _2f\"> </span>dell\u2019IFRS <span class=\"_ _8b\"> </span>10<span class=\"_ _0\"></span> <span class=\"_ _2e\"> </span>in <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>anto <span class=\"_ _2e\"> </span>in <span class=\"_ _2e\"> </span>possesso <span class=\"_ _2f\"> </span>d<span class=\"_ _0\"></span>ella <span class=\"_ _2e\"> </span>qu<span class=\"_ _0\"></span>alifica <span class=\"_ _2e\"> </span>di <span class=\"_ _2e\"> </span>\u201centit\u00e0 <span class=\"_ _2f\"> </span>di investimento\u201d. <span class=\"_ _23\"></span>Nello <span class=\"_ _22\"></span>specifico,<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>l\u2019ammontare <span class=\"_ _22\"></span>della <span class=\"_ _23\"></span>voce <span class=\"_ _23\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _23\"></span>dicembre <span class=\"_ _23\"></span>2022 <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>relativo <span class=\"_ _23\"></span>all\u2019incremento <span class=\"_ _22\"></span>dell<span class=\"_ _0\"></span>a valorizzazione <span class=\"_ _22\"></span>della <span class=\"_ _0\"></span>parte<span class=\"_ _0\"></span>cipazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>controllo <span class=\"_ _22\"></span>in <span class=\"_ _0\"></span>CULTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>(al <span class=\"_ _22\"></span>valore <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>quotazione <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>borsa <span class=\"_ _22\"></span>alla <span class=\"_ _0\"></span>da<span class=\"_ _0\"></span>ta del <span class=\"_ _2b\"></span>22 <span class=\"_ _2b\"></span>apri<span class=\"_ _0\"></span><span class=\"ff5d\">le <span class=\"_ _2b\"></span>2022, <span class=\"_ _2b\"></span>data <span class=\"_ _29\"></span>di <span class=\"_ _2b\"></span>cambio <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>stato <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>entit\u00e0 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>investimento) <span class=\"_ _2b\"></span>rispetto <span class=\"_ _29\"></span>al <span class=\"_ _2b\"></span>31 <span class=\"_ _2b\"></span>dicembre <span class=\"_ _2b\"></span>2021. <span class=\"_ _29\"></span>L\u2019ammontare </span>del <span class=\"_ _0\"></span>periodo <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>confront<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>invece <span class=\"_ _0\"></span>relativo <span class=\"_ _0\"></span>prin<span class=\"_ _0\"></span>cipalmente <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>valorizzazione <span class=\"_ _0\"></span>dell<span class=\"_ _0\"></span>a <span class=\"_ _0\"></span>partecipazione <span class=\"_ _0\"></span>del <span class=\"_ _22\"></span>99% in<span class=\"_ _0\"></span> KME SE che a tale data era detenuta direttam<span class=\"_ _0\"></span>ente dalla Capogrup<span class=\"_ _0\"></span>po.  Per <span class=\"_ _2c\"></span>completezza: <span class=\"_ _2c\"></span>la <span class=\"_ _2c\"> </span>valu<span class=\"_ _0\"></span>tazione <span class=\"_ _2c\"></span>a<span class=\"_ _0\"></span><span class=\"ff5a\"> <span class=\"_ _2c\"></span>fair <span class=\"_ _2c\"></span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _28\"></span>partecipazioni <span class=\"_ _2d\"> </span>del <span class=\"_ _28\"></span>2021<span class=\"_ _0\"></span> <span class=\"_ _2c\"></span>si <span class=\"_ _2c\"></span>riferiva <span class=\"_ _2c\"></span>per <span class=\"_ _2c\"> </span>Eu<span class=\"_ _0\"></span>ro <span class=\"_ _2c\"></span>68.800 migliaia <span class=\"_\"> </span>a <span class=\"_ _2d\"> </span>K<span class=\"_ _0\"></span>ME <span class=\"_\"> </span>SE, <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>Euro <span class=\"_\"> </span>1.604 <span class=\"_ _2a\"> </span>migliaia <span class=\"_ _2a\"> </span>a <span class=\"_ _2a\"> </span>CULTI <span class=\"_ _2a\"> </span>Milano <span class=\"_\"> </span>SpA, <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>Euro <span class=\"_\"> </span>1.496 <span class=\"_ _2d\"> </span>migliaia <span class=\"_\"> </span>a <span class=\"_\"> </span>Intek Investimenti SpA, per Euro 769 migliaia a <span class=\"_ _29\"></span>Ducati Energia SpA <span class=\"_ _29\"></span>e per Euro <span class=\"_ _29\"></span>300 migliaia <span class=\"_ _29\"></span>a KME Germany Bet. GmbH. I dividendi sono relativi principalmente a quanto<span class=\"_ _0\"></span> incassato dalla partecipata Ducati Energia SpA.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__139": {
   "value": "5.7.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Imposte correnti e differit<span class=\"_ _0\"></span>e (in migliaia di Euro) 2022 2021 Imposte correnti (7.536) 1.893  Imposte differite 26.846  (438) Imposte correnti e differite 19.310  1.455  A <span class=\"_ _2d\"> </span>decorrere <span class=\"_ _2d\"> </span>dal <span class=\"_ _2d\"> </span>2007<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>l<span class=\"ls3\">a <span class=\"_ _2d\"> </span></span>magg<span class=\"_ _0\"></span>ior <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>sue <span class=\"_ _2a\"> </span>controllate <span class=\"_ _2d\"> </span>italiane <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2d\"> </span>esercitato l\u2019opzione <span class=\"_ _2b\"></span>per il <span class=\"_ _2b\"></span>regime <span class=\"_ _2b\"></span>fiscale <span class=\"_ _29\"></span>del <span class=\"_ _2b\"></span>\u201c<span class=\"ff56\">con<span class=\"_ _0\"></span>solidato <span class=\"_ _29\"></span><span class=\"ff5d\">fiscale <span class=\"_ _2b\"></span>nazionale\u201d determinando <span class=\"_ _2b\"></span>l\u2019IRES <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>base <span class=\"_ _2b\"></span>imponibile<span class=\"_ _0\"></span> </span></span>corrispondente <span class=\"_ _2d\"> </span>alla <span class=\"_ _2d\"> </span>somma <span class=\"_ _2d\"> </span>algebrica <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>imponibili <span class=\"_ _2d\"> </span>positiv<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>negativi <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>singole <span class=\"_ _2d\"> </span>societ\u00e0. <span class=\"_ _2d\"> </span>I <span class=\"_ _2d\"> </span>rapporti economici, oltre <span class=\"_ _0\"></span>alle <span class=\"_ _0\"></span>responsabilit\u00e0 <span class=\"_ _0\"></span>e agli <span class=\"_ _0\"></span>obblighi <span class=\"_ _0\"></span>reciproci, <span class=\"_ _0\"></span>sono defini<span class=\"_ _0\"></span><span class=\"ff5d\">ti <span class=\"_ _0\"></span>nell\u2019accordo <span class=\"_ _0\"></span>e regolamento <span class=\"_ _0\"></span>relativi </span>all\u2019opzione <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span><span class=\"ff56\">consolidato<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>fiscale <span class=\"_ _2b\"></span>nazionale <span class=\"_ _2b\"></span>secondo <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>ale <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>controllante <span class=\"_ _2b\"></span>e/o <span class=\"_ _2b\"></span>le <span class=\"_ _2b\"></span>contro<span class=\"_ _0\"></span>llate <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>imponibile </span>negativo <span class=\"_ _0\"></span>ricevono <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>compensazione <span class=\"_ _0\"></span>pari <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>relativo <span class=\"_ _0\"></span>risparmio<span class=\"_ _0\"></span> d\u2019<span class=\"_ _0\"></span>imposta <span class=\"_ _0\"></span>realizzato <span class=\"_ _0\"></span>dalla <span class=\"_ _0\"></span>controllant<span class=\"_ _22\"></span><span class=\"ff56\">e e/o <span class=\"_ _0\"></span>le<span class=\"_ _0\"></span> </span>controllate con imponibile positivo.<span class=\"_ _0\"></span> Correlazione fra oneri fiscali e risultato conta<span class=\"_ _0\"></span>bile: (in migliaia di Euro) 2022 2021 Risultato Ante Imposte 26.409  63.851  Carico fiscale teorico (aliqu<span class=\"_ _29\"></span>ota fiscale utilizzata 24%) (6.338) (15.324) Riconciliazione: Effetto dovuto alle diverse ali<span class=\"_ _29\"></span>quote fiscali: (265)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri effetti: - (Oneri) non deducibili  e pr<span class=\"_ _29\"></span>oventi non imponibili (1.605) (1.101) - Perdite fiscali - Imposte diff<span class=\"_ _29\"></span>erite non stanziate 21.913   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Utilizzo perdite fiscali 954   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Rivalutazioni/Svalutazioni s<span class=\"_ _29\"></span>u partecipazioni e titoli 2.179  17.513  - Imposte correnti esercizi pre<span class=\"_ _29\"></span>cedenti (148)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Altro 2.620  367  Imposte rilevate a conto ec<span class=\"_ _29\"></span>onomico 19.310  1.455",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__138": {
   "value": "5.7.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Imposte correnti e differit<span class=\"_ _0\"></span>e (in migliaia di Euro) 2022 2021 Imposte correnti (7.536) 1.893  Imposte differite 26.846  (438) Imposte correnti e differite 19.310  1.455  A <span class=\"_ _2d\"> </span>decorrere <span class=\"_ _2d\"> </span>dal <span class=\"_ _2d\"> </span>2007<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>Societ\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>l<span class=\"ls3\">a <span class=\"_ _2d\"> </span></span>magg<span class=\"_ _0\"></span>ior <span class=\"_ _2d\"> </span>parte <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>sue <span class=\"_ _2a\"> </span>controllate <span class=\"_ _2d\"> </span>italiane <span class=\"_ _2d\"> </span>hanno <span class=\"_ _2d\"> </span>esercitato l\u2019opzione <span class=\"_ _2b\"></span>per il <span class=\"_ _2b\"></span>regime <span class=\"_ _2b\"></span>fiscale <span class=\"_ _29\"></span>del <span class=\"_ _2b\"></span>\u201c<span class=\"ff56\">con<span class=\"_ _0\"></span>solidato <span class=\"_ _29\"></span><span class=\"ff5d\">fiscale <span class=\"_ _2b\"></span>nazionale\u201d determinando <span class=\"_ _2b\"></span>l\u2019IRES <span class=\"_ _2b\"></span>su una <span class=\"_ _2b\"></span>base <span class=\"_ _2b\"></span>imponibile<span class=\"_ _0\"></span> </span></span>corrispondente <span class=\"_ _2d\"> </span>alla <span class=\"_ _2d\"> </span>somma <span class=\"_ _2d\"> </span>algebrica <span class=\"_ _2d\"> </span>degli <span class=\"_ _2d\"> </span>imponibili <span class=\"_ _2d\"> </span>positiv<span class=\"_ _0\"></span>i <span class=\"_ _2d\"> </span>e <span class=\"_ _2d\"> </span>negativi <span class=\"_ _2d\"> </span>delle <span class=\"_ _2d\"> </span>singole <span class=\"_ _2d\"> </span>societ\u00e0. <span class=\"_ _2d\"> </span>I <span class=\"_ _2d\"> </span>rapporti economici, oltre <span class=\"_ _0\"></span>alle <span class=\"_ _0\"></span>responsabilit\u00e0 <span class=\"_ _0\"></span>e agli <span class=\"_ _0\"></span>obblighi <span class=\"_ _0\"></span>reciproci, <span class=\"_ _0\"></span>sono defini<span class=\"_ _0\"></span><span class=\"ff5d\">ti <span class=\"_ _0\"></span>nell\u2019accordo <span class=\"_ _0\"></span>e regolamento <span class=\"_ _0\"></span>relativi </span>all\u2019opzione <span class=\"_ _2b\"></span>per <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span><span class=\"ff56\">consolidato<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>fiscale <span class=\"_ _2b\"></span>nazionale <span class=\"_ _2b\"></span>secondo <span class=\"_ _2b\"></span>il <span class=\"_ _2b\"></span>qu<span class=\"_ _0\"></span>ale <span class=\"_ _2b\"></span>la <span class=\"_ _2b\"></span>controllante <span class=\"_ _2b\"></span>e/o <span class=\"_ _2b\"></span>le <span class=\"_ _2b\"></span>contro<span class=\"_ _0\"></span>llate <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>imponibile </span>negativo <span class=\"_ _0\"></span>ricevono <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>compensazione <span class=\"_ _0\"></span>pari <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>relativo <span class=\"_ _0\"></span>risparmio<span class=\"_ _0\"></span> d\u2019<span class=\"_ _0\"></span>imposta <span class=\"_ _0\"></span>realizzato <span class=\"_ _0\"></span>dalla <span class=\"_ _0\"></span>controllant<span class=\"_ _22\"></span><span class=\"ff56\">e e/o <span class=\"_ _0\"></span>le<span class=\"_ _0\"></span> </span>controllate con imponibile positivo.<span class=\"_ _0\"></span> Correlazione fra oneri fiscali e risultato conta<span class=\"_ _0\"></span>bile: (in migliaia di Euro) 2022 2021 Risultato Ante Imposte 26.409  63.851  Carico fiscale teorico (aliqu<span class=\"_ _29\"></span>ota fiscale utilizzata 24%) (6.338) (15.324) Riconciliazione: Effetto dovuto alle diverse ali<span class=\"_ _29\"></span>quote fiscali: (265)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altri effetti: - (Oneri) non deducibili  e pr<span class=\"_ _29\"></span>oventi non imponibili (1.605) (1.101) - Perdite fiscali - Imposte diff<span class=\"_ _29\"></span>erite non stanziate 21.913   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Utilizzo perdite fiscali 954   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Rivalutazioni/Svalutazioni s<span class=\"_ _29\"></span>u partecipazioni e titoli 2.179  17.513  - Imposte correnti esercizi pre<span class=\"_ _29\"></span>cedenti (148)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- Altro 2.620  367  Imposte rilevate a conto ec<span class=\"_ _29\"></span>onomico 19.310  1.455",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__141": {
   "value": "6.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Altre informazioni </span></span>6.1.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Strumenti fin<span class=\"_ _0\"></span>anziari per categorie Di <span class=\"_ _2b\"></span>seguito <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>presentano <span class=\"_ _2b\"></span>le <span class=\"_ _29\"></span>informazioni <span class=\"_ _2b\"></span>integrative <span class=\"_ _29\"></span>relative <span class=\"_ _2b\"></span>agli <span class=\"_ _29\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>categorie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>attivit\u00e0 e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>fi<span class=\"_ _0\"></span>nanziarie; <span class=\"_ _23\"></span>si <span class=\"_ _28\"></span>specifica <span class=\"_ _23\"></span>che<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>nella <span class=\"_ _23\"></span>tabella<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>rappresentate <span class=\"_ _23\"></span>anche <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>voci <span class=\"_ _23\"></span>credit<span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>diversi <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>altre attivit\u00e0 nonch\u00e9 le voci debiti diversi e altre p<span class=\"_ _0\"></span>assivit\u00e0.  (in migliaia di Euro) 31-dic-22 31-dic-21 Variazione Attivit\u00e0 finanziarie al <span class=\"ff5a\">fair value</span> rilevato<span class=\"_ _29\"></span> a conto economico 11.139  637.620  (626.481) Attivit\u00e0 finanziarie al <span class=\"ff5a\">fair value</span> rilevato<span class=\"_ _29\"></span> a conto economico 17.641   -<span class=\"lsd\">  </span> 17.641  complessivo Costo ammortizzato 333.435  40.729  292.706  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0  362.215  678.349  (316.134) Passivit\u00e0 finanziarie al <span class=\"ff5a\">fair val<span class=\"_ _29\"></span>ue<span class=\"ff56\"> rilevato a conto economic<span class=\"_ _29\"></span>o </span></span>(10.652) (240) (10.412) Passivit\u00e0 finanziarie e debiti al costo<span class=\"_ _29\"></span> ammortizzato (1.085.316) (130.292) (955.024) Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (1.095.968) (130.532) (965.436) 6.2.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Strumenti fin<span class=\"_ _0\"></span>anziari per voce di bilancio<span class=\"_ _0\"></span> Di <span class=\"_ _2d\"> </span>seguito <span class=\"_ _2d\"> </span>si<span class=\"_ _29\"></span> <span class=\"_ _2d\"> </span>rappresentano <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"></span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>dell<span class=\"_ _0\"></span>e <span class=\"_ _2d\"> </span>relative <span class=\"_ _2d\"> </span>voci <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 dicembre <span class=\"ls1\">2022</span>: (in migliaia di Euro) Metodo di valutazione Valore Non Valore  Fair  Valori al 31 dicembre 2022<span class=\"_ _29\"></span> contabile Costo disciplinato Fair Value<span class=\"ff56\"> </span>Value IFRS 7 Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654 76.654 - Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405 17.405 17.405 Altre attivit\u00e0 non correnti 3.106  3.106   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>3.106  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 3.245  3.009  236   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>3.245  Crediti commerciali 95.359  95.359   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>95.359  Attivit\u00e0 finanziarie correnti 110.101  98.962  11.139   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>110.101  Altri crediti ed attivit\u00e0 correnti 15.423  4.155   -<span class=\"lsd\">  </span> 11.268  4.155  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 128.844  128.844   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>128.844  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0 450.137 333.435 28.780 87.922 362.215 (240.758) (240.758)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(240.758) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (155.991) (155.991)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(155.991) Titoli obbligazionari  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 non correnti (109.455) (98.803) (10.652)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(109.455) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (540.725) (540.725)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(540.725) Debiti verso fornitori (68.854) (49.039)  -<span class=\"lsd\">  </span> (19.815) (49.039) Altre passivit\u00e0 correnti Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (1.115.783) (1.085.316) (10.652) (19.815) (1.095.968) (in migliaia di Euro) Metodo di valutazione Valore Non Valore  Fair  Valori al 31 dicembre 2021<span class=\"_ _29\"></span> contabile Costo disciplinatFair Value<span class=\"ff56\"> </span>Value o IFRS 7 Partecipazioni 637.123   -<span class=\"lsd\">  </span> 637.123   -<span class=\"lsd\">  </span> 637.123  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>Altre attivit\u00e0 non correnti 3 <span class=\"ls0\"> </span>3 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 3 <span class=\"ls0\"> </span>Crediti commerciali 5.039  5.039   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 5.039  Altri crediti e attivit\u00e0 corre<span class=\"_ _29\"></span>nti 5.680  5.037   -<span class=\"lsd\">  </span> 643  5.037  Attivit\u00e0 finanziarie correnti 26.444  25.952  492   -<span class=\"lsd\">  </span> 26.444  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 4.698  4.698   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 4.698  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0 678.992  40.729  637.620  643  678.349  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (2.445) (2.440) (5)  -<span class=\"lsd\">  </span> (2.445) Obbligazioni (92.372) (92.372)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (92.372) Altre passivit\u00e0 non correnti (113) (113)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (113) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (29.677) (29.442) (235)  -<span class=\"lsd\">  </span> (29.677) Debiti verso fornitori (2.238) (2.238)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.238) Altre passivit\u00e0 correnti (3.813) (3.687)  -<span class=\"lsd\">  </span> (126) (3.687) Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (130.658) (130.292) (240) (126) (130.292) Il valore contabile delle attivit\u00e0 e passivit\u00e0 finanziarie riconosciute nel presente bilancio non si discosta dal loro <span class=\"ff5a\">fair value</span>. L\u2019IFRS <span class=\"_ _22\"></span>13 <span class=\"_ _22\"></span>stabilisce <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>gerarchia <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>classifica <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>tre <span class=\"_ _22\"></span>livelli <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>input <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>tecniche <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> valutazione <span class=\"_ _23\"></span>adottate <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>misurare <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value. <span class=\"_ _23\"></span>La <span class=\"_ _23\"></span>gerarchia <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _22\"></span>attribuisce <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>massima <span class=\"_ _23\"></span>priorit\u00e0 <span class=\"_ _23\"></span>ai prezzi quotati <span class=\"_ _0\"></span>(non <span class=\"_ _0\"></span>rettificati) <span class=\"_ _0\"></span>in mercati <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>attivit\u00e0 o <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>identiche (dati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Livello 1)<span class=\"_ _0\"></span> e <span class=\"_ _0\"></span>la prio<span class=\"_ _0\"></span>rit\u00e0 minima agli input non osservabil<span class=\"_ _0\"></span>i (dati di Livello 3): \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 1 <span class=\"ff5d\">\u2013</span> quotazioni rilevate su un mercato attivo per attivit\u00e0 o passivit\u00e0 oggetto <span class=\"_ _0\"></span>di valutazione;<span class=\"_ _0\"></span> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">Livello <span class=\"_\"> </span>2 <span class=\"_ _2a\"> </span><span class=\"ff5d\">\u2013</span> <span class=\"_\"> </span><span class=\"ff5a\">input</span> <span class=\"_\"> </span>diversi <span class=\"_ _2a\"> </span>dai <span class=\"_\"> </span>prezz<span class=\"_ _29\"></span>i <span class=\"_\"> </span>quotati <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>cui <span class=\"_\"> </span>al <span class=\"_ _2a\"> </span>punto <span class=\"_\"> </span>precedente, <span class=\"_ _2a\"> </span>che <span class=\"_\"> </span>sono <span class=\"_\"> </span>osservabili </span>direttamente (prezzi) o indirettamente (derivati dai prezzi) sul mer<span class=\"_ _0\"></span>cato;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 3 <span class=\"ff5d\">\u2013</span> <span class=\"ff5a\">input</span> che non sono basati su dati di mercato osservabili.<span class=\"_ _0\"></span> </span></span>Per <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>essere <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022, <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _22\"></span>comparativi, <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021, nella <span class=\"_ _23\"></span>tabella <span class=\"_ _23\"></span>sottostante <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>illustrata <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>gerarchia <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>sono misurate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>ricorrente <span class=\"_ _23\"></span>(nel <span class=\"_ _0\"></span>livello <span class=\"_ _23\"></span>3 <span class=\"_ _0\"></span>sono <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>valori <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>carico <span class=\"_ _23\"></span>delle <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>finanziarie non quotate iscritte al costo in assenza di un <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> disponibile). Valore di  Livelli di Fair Value (in migliaia di Euro) Fair Value 1 2 3 al 31/12/2022 17.405   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 17.405  Partecipazioni 236   -<span class=\"lsd\">  </span> 236<span class=\"lsd\">  </span> -  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 11.139   -<span class=\"lsd\">  </span> 10.967  Attivit\u00e0 finanziarie correnti Totale attivit\u00e0 finanziarie 28.780    <span class=\"ls0\">-  </span>11.203  17.577   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti 10.652   -<span class=\"lsd\">  </span> 10.652   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> Totale passivit\u00e0 finanziarie 10.652    <span class=\"ls0\">-  </span>10.652    <span class=\"ls0\">-  </span>Valore di  Livelli di Fair Value (in migliaia di Euro) Fair Value al 31/12/2021<span class=\"ff5c fs5\"> </span>1 2 3 Partecipazioni 637.123  28.904   -<span class=\"lsd\">  </span> 608.219  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>Attivit\u00e0 finanziarie correnti 492   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 492  Totale attivit\u00e0 finanziarie 637.620  28.904   -<span class=\"lsd\">  </span> 608.716  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (5)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (5) Debiti e passivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> (235)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (235) Totale passivit\u00e0 finanziarie (240)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (240) Riclassificazione strumenti finanziari<span class=\"_ _0\"></span> Con <span class=\"_ _23\"></span>riferimento <span class=\"_ _22\"></span>alle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>misurate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>su <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>ricorrente<span class=\"lsb\">, </span>nell\u2019esercizio <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span><span class=\"ff56\">non <span class=\"_\"> </span>c<span class=\"_ _29\"></span>i <span class=\"_ _2a\"> </span>sono <span class=\"_\"> </span>stati <span class=\"_ _2a\"> </span>trasferimenti <span class=\"_ _2a\"> </span>dal <span class=\"_\"> </span>livello <span class=\"_ _2a\"> </span>3 <span class=\"_ _2a\"> </span>ad <span class=\"_ _2a\"> </span>altri <span class=\"_ _2a\"> </span>livelli <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>viceversa <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da </span>cambiamenti nelle significative variabili di in<span class=\"_ _0\"></span>put delle tecniche valutativ<span class=\"_ _0\"></span>e osservabili.  Gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>rilevati <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>situazione <span class=\"_ _23\"></span>patrimoniale<span class=\"ff5d\">\u2013</span>finanziaria <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre 2021 <span class=\"ls0\">(rappresentati nella tabella in basso) includevano prin<span class=\"_ _0\"></span>cipalmente gli in<span class=\"_ _0\"></span>vestimenti partecipativi per <span class=\"_ _0\"></span>la cui </span>valutazione <span class=\"_ _22\"></span>erano <span class=\"_ _22\"></span>stati <span class=\"_ _22\"></span>utilizzati <span class=\"_ _22\"></span><span class=\"ff5a\">inpu<span class=\"_ _0\"></span>t <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _22\"></span>livello <span class=\"_ _22\"></span>3, <span class=\"_ _22\"></span>fatta <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>per <span class=\"_ _0\"></span>l\u2019investimento <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CU<span class=\"_ _0\"></span>LTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>SpA </span></span>che <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"_ _2b\"></span>2021 <span class=\"_ _29\"></span>era <span class=\"_ _2b\"></span>stato <span class=\"_ _2b\"></span>valutato <span class=\"_ _2b\"></span>sulla <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>(Livello <span class=\"_ _2b\"></span>1). <span class=\"_ _29\"></span>Si <span class=\"_ _2b\"></span>ricorda <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>bilancio </span>2022, in considera<span class=\"ff5d\">zion<span class=\"_ _0\"></span>e del \u201ccambio di stato\u201d <span class=\"_ _0\"></span>la Societ\u00e0 ha proceduto<span class=\"_ _0\"></span> a consolidare integralmente <span class=\"_ _22\"></span></span>i principali investimenti <span class=\"_ _29\"></span>partecipativi <span class=\"_ _2b\"></span>di controllo <span class=\"_ _2b\"></span>(tra <span class=\"_ _2b\"></span>cui <span class=\"ff5d ls9\">l\u2019i</span>nvestimento <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>CULTI <span class=\"_ _2b\"></span>Milano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>SpA<span class=\"_ _0\"></span>, <span class=\"_ _2b\"></span>per Euro <span class=\"_ _2b\"></span>28.904 <span class=\"_ _29\"></span>migliaia, che era precedentemente evidenziato a Livello <span class=\"_ _0\"></span>1). 6.3.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Valore noziona<span class=\"_ _0\"></span>le degli strumenti finanziari e dei derivati<span class=\"_ _0\"></span> (in migliaia di Euro) Gruppo CULTI Tipologia IRS  IRS  IRS  Finalit\u00e0 Copertura Copertura Copertura Valore nozionale originari<span class=\"_ _29\"></span>o 2.500  800  1.000  Valore nozionale 31/12/2022 2.037  800  1.000  Valore di bilancio 116  49  71  Anno scadenza 2026 2026 2029 (in migliaia di Euro) Gruppo KME SE Tipologia LME Firm Committment Valore nozionale 31/12/2022 426.186  236.036 Data scadenza 2023 2023 6.4.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> credito L'esposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>rischi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>sua <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erativa <span class=\"_ _2d\"> </span>(in particolare <span class=\"_ _2d\"> </span>settore <span class=\"_ _2d\"> </span>Rame). <span class=\"_ _2a\"> </span><span class=\"ff5d\">Il <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>l\u2019e<span class=\"_ _0\"></span>sposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>potenziali <span class=\"_ _2d\"> </span>perdit<span class=\"_ _0\"></span>e </span>derivanti <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>mancato <span class=\"_ _0\"></span>adempimento <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>obbligaz<span class=\"_ _0\"></span>ioni <span class=\"_ _0\"></span>assunte <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>controparti <span class=\"_ _0\"></span>sia commercial<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>sia <span class=\"_ _0\"></span>finanziarie. Tale <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>discende <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>incipalmente <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>fatto<span class=\"_ _0\"></span>ri <span class=\"_ _0\"></span>economico<span class=\"_ _0\"></span>-finanziari, <span class=\"_ _22\"></span>ovvero <span class=\"_ _0\"></span>dalla <span class=\"_ _0\"></span>possibilit\u00e0 <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>verifichi una situazione di default di una controparte, o<span class=\"_ _0\"></span>vvero da fattori pi\u00f9 strettamente te<span class=\"_ _0\"></span>cnico-commerciali. La <span class=\"_ _0\"></span>massima <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>sposizione <span class=\"_ _0\"></span>teorica <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>rischio <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>credito <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rappresenta<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>contabile delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>iscritti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>bilancio. <span class=\"_ _23\"></span>Si <span class=\"_ _23\"></span>segnala <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>alcune <span class=\"_ _23\"></span>posizioni <span class=\"_ _23\"></span>creditorie <span class=\"_ _23\"></span>risultano garantite (i.e. per quanto riguarda i <span class=\"_ _0\"></span>crediti commerciali, gran parte del ri<span class=\"_ _0\"></span>schio \u00e8 garantito dal factorin<span class=\"_ _0\"></span>g). La <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>centrazione <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>caso <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>limitata <span class=\"_ _28\"></span>grazie all'ampia ed eterogenea base di clienti. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>accantonamenti <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>fond<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>svalutazione <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>so<span class=\"_ _0\"></span>no <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>maniera <span class=\"_ _28\"></span>specifica <span class=\"_ _2c\"></span>sulle <span class=\"_ _28\"></span>posizioni creditorie <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>esentano <span class=\"_ _2d\"> </span>elementi <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2d\"> </span>peculiari. <span class=\"_ _2d\"> </span>Sulle <span class=\"_ _2d\"> </span>posizioni <span class=\"_ _2c\"> </span>credito<span class=\"_ _0\"></span>rie <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2d\"> </span>presentano <span class=\"_ _2c\"> </span>tali<span class=\"_ _0\"></span> caratteristiche, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>invece <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span>bas<span class=\"_ _0\"></span><span class=\"ff5d\">e <span class=\"_ _23\"></span>dell\u2019esigibilit\u00e0 <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>sti<span class=\"_ _0\"></span>mata <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>funzione <span class=\"_ _22\"></span>di </span>indicatori <span class=\"_ _2d\"> </span>statistici: <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2d\"> </span>viene <span class=\"_ _2d\"> </span>efffettuata <span class=\"_ _2d\"> </span>tramite <span class=\"_ _2d\"> </span>portafogli <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>clienti <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>dell'esperienza passata, azioni e/o informazioni finanziarie<span class=\"_ _0\"></span>, nonch\u00e9 delle linee di credito<span class=\"_ _0\"></span> e vengono operate svalutazion<span class=\"_ _0\"></span>i. Per <span class=\"_ _0\"></span>quanto <span class=\"_ _22\"></span>concerne <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>risc<span class=\"_ _0\"></span>hio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>credito <span class=\"_ _0\"></span>afferente <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>componenti <span class=\"_ _22\"></span>attive <span class=\"_ _22\"></span>nonch\u00e9 <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>strumenti <span class=\"_ _0\"></span>finanziari<span class=\"_ _0\"></span> derivati, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>solvibilit\u00e0 <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>limitato <span class=\"_ _23\"></span>dal <span class=\"_ _23\"></span>fatto <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>relativi <span class=\"_ _23\"></span>contratti <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stipulati <span class=\"_ _23\"></span>esclusivamente <span class=\"_ _23\"></span>con controparti e/o istituti di credito con un <span class=\"_ _0\"></span><span class=\"ff5a\">rating</span> affidabile. 6.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> cambio Al <span class=\"_ _28\"></span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _28\"></span>2<span class=\"_ _0\"></span>021 <span class=\"_ _28\"></span>non <span class=\"_ _2c\"></span>erano <span class=\"_ _28\"></span>presenti <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>valuta <span class=\"_ _2c\"></span>estera, <span class=\"_ _2c\"></span>diversamente, <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>fronte dell\u2019incremento <span class=\"_ _2d\"> </span>dell\u2019area <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>consolidamento, <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2c\"> </span>ha <span class=\"_ _2d\"> </span>operato <span class=\"_ _2d\"> </span><span class=\"ff56\">a <span class=\"_ _2c\"> </span>livello <span class=\"_ _2d\"> </span>internazionale <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>ha </span>condotto le proprie transazioni in<span class=\"_ _0\"></span> diverse valute.  Nel <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>queste <span class=\"_ _28\"></span>operazioni, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>ricavi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>generati <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>valute <span class=\"_ _28\"></span>diverse <span class=\"_ _28\"></span>dalla <span class=\"_ _28\"></span>valuta <span class=\"_ _28\"></span>funzio<span class=\"_ _0\"></span>nale <span class=\"_ _23\"></span>della<span class=\"_ _0\"></span> Capogruppo. <span class=\"_\"> </span>La <span class=\"_\"> </span>politica <span class=\"_\"> </span>del <span class=\"_\"> </span>Gruppo <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>quella <span class=\"_\"> </span>di <span class=\"_\"> </span>monitorare <span class=\"_\"> </span>ed <span class=\"_\"> </span>eventualmente <span class=\"_ _8b\"> </span>coprire <span class=\"_\"> </span>i <span class=\"_\"> </span>suddetti <span class=\"_\"> </span>rischi utilizzando strumenti finanziari derivati, quali <span class=\"_ _0\"></span><span class=\"ff5a\">cross currency swap<span class=\"_ _0\"></span></span> e contratti a termine. I rischi valutari sono relativi principalmente al d<span class=\"_ _0\"></span>ollaro: (in migliaia di Euro) USD GBP CHF Esposizione lorda 32.355  3.722  1.065  Forward exchange contracts 35.578  3.958  862  Esposizione netta (3.223) (236) 203  Un <span class=\"_ _22\"></span>rafforzamento <span class=\"_ _22\"></span>(indebolimento) <span class=\"_ _22\"></span>realisticamente <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssibile <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>te <span class=\"_ _0\"></span>rispetto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>alle <span class=\"_ _0\"></span>altre <span class=\"_ _22\"></span>valute <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 dicembre <span class=\"_ _2b\"></span>avrebbe <span class=\"_ _29\"></span>influenzato <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>strumenti <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>valuta <span class=\"_ _2b\"></span>estera <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>essenzialmente <span class=\"_ _29\"></span>l'utile o la perdita <span class=\"ff5d\">d\u2019esercizio</span><span class=\"lsb\">. </span> Nell'analisi di sensitivit\u00e0 per le valute si \u00e8 ipotizzato che il tasso di cambio dell'<span class=\"_ _0\"></span>Euro rispetto alla valuta estera vari del <span class=\"_ _29\"></span>+/-10 % in <span class=\"_ _29\"></span>ciascun caso. <span class=\"_ _29\"></span>Se l'Euro fosse <span class=\"_ _29\"></span>stato pi\u00f9 forte<span class=\"_ _29\"></span> o pi\u00f9 <span class=\"_ _29\"></span>debole del <span class=\"_ _29\"></span>10% rispetto alla <span class=\"_ _29\"></span>valuta estera ri<span class=\"_ _0\"></span>spetto <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>dominante <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>bilancio<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>capitale <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>rio <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>risultato <span class=\"_ _0\"></span>annuale <span class=\"_ _0\"></span>sarebbero <span class=\"_ _0\"></span>stati modificati secondo lo schema presentato nella tabella segu<span class=\"_ _0\"></span>ente.  Nell'analisi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ipotizza <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>tutti <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _22\"></span>fattori <span class=\"_ _22\"></span>d'influenza, <span class=\"_ _22\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>particolare <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>tassi <span class=\"_ _22\"></span>d'interesse, <span class=\"_ _22\"></span>rimangano costanti.  Nel cal<span class=\"_ _0\"></span>colo <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>incluse <span class=\"_ _0\"></span>tutte <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>posizioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>valuta <span class=\"_ _0\"></span>estera <span class=\"_ _0\"></span>rilevanti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>fatturato <span class=\"_ _0\"></span>previsto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>periodo<span class=\"_ _0\"></span> successivo, tenuto conto del rischio di cambio.<span class=\"_ _0\"></span> (in migliaia di Euro) USD GBP CHF Rafforzamento 10% (322) (24) 20  Indebolimento 10% 322  24  (20) 6.6.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> fluttuazione valore azioni<span class=\"_ _0\"></span> Il valore <span class=\"_ _2b\"></span>contabile delle attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie rappresenta l\u2019esposizione <span class=\"_ _2b\"></span>massima <span class=\"ff56\">del Gruppo a<span class=\"_ _29\"></span> tale <span class=\"_ _2b\"></span>rischio. </span>6.7.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> tasso di interesse Al <span class=\"_ _22\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>2022 <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _23\"></span>fruttifere <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>interessi <span class=\"_ _23\"></span>presentano <span class=\"_ _23\"></span>la seguente esposizione al rischio tasso<span class=\"_ _0\"></span> di interesse: (in milioni di Euro) +100 Basis Point - 50 Basis Point Effetto sul risultato d'esercizi<span class=\"_ _29\"></span>o 2022 3,3  (1,6) Effetto sul Patrimonio Nett<span class=\"_ _29\"></span>o 2022 3,3  (1,6) Alla data di <span class=\"_ _29\"></span>chiusura del presente <span class=\"_ _29\"></span>Bilancio Consolidato, sono in <span class=\"_ _2b\"></span>essere i IRS Swap a copertura del <span class=\"_ _29\"></span>tasso di interesse del finanziamento in capo a<span class=\"_ _0\"></span>: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">CULTI <span class=\"_ _2b\"></span>Milano <span class=\"_ _2b\"></span>S.p.A. relativamente <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>finanziamento <span class=\"_ _2b\"></span>acceso nell\u2019<span class=\"ff56\">esercizio <span class=\"_ _2b\"></span>2020 <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>2,5 <span class=\"_ _29\"></span>milioni </span></span></span>con l\u2019istituto ICCREA<span class=\"ff56\"> Banca;  </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Scent Company Srl <span class=\"ls3\">acceso</span> <span class=\"ff5d\">nell\u2019esercizio 20<span class=\"_ _0\"></span>20 di Euro 0,8 milioni con l\u2019istituto Intesa San<span class=\"_ _0\"></span></span>paolo; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Bakel <span class=\"_ _2b\"></span>Srl <span class=\"_ _2b\"></span><span class=\"ff5d\">relativamente <span class=\"_ _2b\"></span>al <span class=\"_ _3d\"></span>f<span class=\"_ _0\"></span>inanziamento <span class=\"_ _2b\"></span>acceso <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"_ _2b\"></span>2022 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Euro <span class=\"_ _2b\"></span>0,8 <span class=\"_ _2b\"></span>milioni <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>l\u2019<span class=\"_ _0\"></span><span class=\"ff56\">istituto </span></span></span></span>ICCREA Banca. Al <span class=\"_ _29\"></span>termine <span class=\"_ _29\"></span>dell\u2019esercizio 2021, <span class=\"_ _2b\"></span>un incremento <span class=\"_ _29\"></span>(o <span class=\"_ _29\"></span>decremento) <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>50 <span class=\"ff5a\">basis <span class=\"_ _2b\"></span>po<span class=\"_ _0\"></span>int<span class=\"ff56\"> dei <span class=\"_ _2b\"></span>tassi di <span class=\"_ _2b\"></span>inte<span class=\"_ _0\"></span>resse <span class=\"_ _29\"></span>alla </span></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>riferi<span class=\"_ _0\"></span>mento <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>avrebbe <span class=\"_ _22\"></span>compo<span class=\"_ _0\"></span>rtato <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>incremento <span class=\"_ _23\"></span>(decremento) <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>patrimonio <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span> risultato di circa Euro <span class=\"ls1\">25</span> migliaia.  6.8.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> liquidit\u00e0 Il <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>liquidit\u00e0 <span class=\"_ _2c\"></span>pu\u00f2 <span class=\"_ _28\"></span>sorg<span class=\"_ _0\"></span>ere <span class=\"_ _28\"></span>dalle<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>difficol<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _28\"></span>ad <span class=\"_ _2c\"></span>ottenere <span class=\"_ _2c\"></span>finanziamenti <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>sup<span class=\"_ _0\"></span>porto <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 operative nella giusta tempistica. <span class=\"_ _0\"></span> Una sufficiente disponibilit\u00e0 di liquidit\u00e0 per il Grupp<span class=\"_ _0\"></span>o \u00e8 garantita dal flusso di cassa del Gruppo e dalle banche <span class=\"_ _28\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>linee <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cre<span class=\"_ _0\"></span>dito <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>breve <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>lungo <span class=\"_ _2c\"></span>termine. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>fluttuazioni <span class=\"_ _2c\"></span>nell'andamento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>flusso <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>cassa possono quindi essere assorbite<span class=\"_ _0\"></span>; le passivit\u00e0 del Gruppo<span class=\"_ _0\"></span> sono principalmente cos\u00ec distribuite:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">strumenti finanziari derivati: orizzonte temporale entro i 3 <span class=\"_ _0\"></span>mesi; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">passivit\u00e0 finanziarie diverse dagli strumenti finanziari d<span class=\"_ _0\"></span>erivati: orizzonte temporale da 1 a 5 anni<span class=\"_ _0\"></span>. </span></span>Si ricorda che sono in essere i due prestiti o<span class=\"_ _0\"></span>bbligazionari della Capogruppo:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">KME <span class=\"_ _2b\"></span>Group <span class=\"_ _2b\"></span>2020/2025<span class=\"ff56\">, <span class=\"_ _2b\"></span>emesso <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>f<span class=\"_ _0\"></span>ebbraio <span class=\"_ _2b\"></span>2020, <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>circolazione <span class=\"_ _2b\"></span>pe<span class=\"_ _0\"></span>r <span class=\"_ _2b\"></span>nomin<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>Euro 92.819<span class=\"_ _0\"></span> migliaia, </span></span></span>con un tasso fisso del 4,5% (cedola annuale);<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>KME <span class=\"_ _2a\"> </span>Group <span class=\"_ _2a\"> </span>2022/2027<span class=\"ff56\">, <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>a<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>settembre <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2a\"> </span>in <span class=\"_ _2d\"> </span>circolazi<span class=\"_ _0\"></span>one <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>nominali <span class=\"_ _2a\"> </span>Euro <span class=\"_ _2a\"> </span>63.533 </span>migliaia con un tasso fisso del 5,0% (cedola ann<span class=\"_ _0\"></span>uale). 6.9.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> prezzo materie prime Come <span class=\"_ _28\"></span>risultato <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>sue <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>commerciali, <span class=\"_ _23\"></span>il<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>esposto <span class=\"_ _28\"></span>ai <span class=\"_ _28\"></span>rischi <span class=\"_ _28\"></span>legati <span class=\"_ _28\"></span>ai <span class=\"_ _23\"></span>pr<span class=\"_ _0\"></span>ezzi <span class=\"_ _28\"></span>delle materie prime. Per mitigare tali rischi vengo<span class=\"_ _0\"></span>no stipulati, tra le altre misure, contratti a termine. <span class=\"_ _0\"></span> Il volume nominale degli strumenti finanziari derivati <span class=\"_ _0\"></span>relativi a rame, zinco, nichel, stagno e alluminio, che <span class=\"_ _0\"></span>risultano <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>totale <span class=\"_ _0\"></span>lord<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>degli <span class=\"_ _22\"></span>importi <span class=\"_ _22\"></span>nominali <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>contratti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acqui<span class=\"_ _0\"></span>sto <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>vendita <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _0\"></span>Euro<span class=\"_ _0\"></span> 662 milioni al 31 dicembre 2022.<span class=\"_ _0\"></span> In <span class=\"_ _0\"></span>conformit\u00e0 <span class=\"_ _0\"></span>all'IFRS <span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>rischi <span class=\"_ _0\"></span>legati <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>prezzo <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>elle <span class=\"_ _0\"></span>commodity <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>illustrati <span class=\"_ _0\"></span>sotto <span class=\"_ _22\"></span>forma <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>analisi di sensitivit\u00e0, che riflette gli effetti di <span class=\"_ _29\"></span>una variazione dei prezzi delle commodity sull'utile <span class=\"_ _29\"></span>netto <span class=\"ff5d\">dell\u2019esercizio</span>. Nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>un <span class=\"_ _2d\"> </span>aumento <span class=\"_ _2d\"> </span>(diminuzione) <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>100 <span class=\"_ _2d\"> </span>euro/tonnellata <span class=\"_ _2d\"> </span>del <span class=\"_ _2a\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>tutti <span class=\"_ _2d\"> </span>i <span class=\"_ _2d\"> </span>prezzi <span class=\"_ _2d\"> </span>delle commodity<span class=\"ff56\"> <span class=\"_ _22\"></span>rilevanti, <span class=\"_ _0\"></span>come <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>periodo <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>riferimento, <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>verificherebb<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>variazione <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>Euro <span class=\"_ _22\"></span>3,6 <span class=\"_ _22\"></span>milioni </span>(peggioramento in caso di incremento prezzi/miglio<span class=\"_ _0\"></span>ramento in caso di decremento prezzi).<span class=\"_ _0\"></span> Il <span class=\"_ _23\"></span><span class=\"ls0\">sud<span class=\"_ _0\"></span>detto <span class=\"_ _28\"></span>calcolo <span class=\"_ _23\"></span>in<span class=\"_ _0\"></span>clude <span class=\"_ _23\"></span>tu<span class=\"_ _0\"></span>tti <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>str<span class=\"_ _0\"></span>umenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _23\"></span>deriv<span class=\"_ _0\"></span>ati <span class=\"_ _28\"></span>sul <span class=\"_ _23\"></span>metallo <span class=\"_ _28\"></span>all<span class=\"_ _0\"></span>a <span class=\"_ _28\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del </span>bilancio.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__140": {
   "value": "6.<span class=\"ff5f ls0\"> <span class=\"_ _44\"> </span><span class=\"ff5c\">Altre informazioni </span></span>6.1.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Strumenti fin<span class=\"_ _0\"></span>anziari per categorie Di <span class=\"_ _2b\"></span>seguito <span class=\"_ _29\"></span>si <span class=\"_ _2b\"></span>presentano <span class=\"_ _2b\"></span>le <span class=\"_ _29\"></span>informazioni <span class=\"_ _2b\"></span>integrative <span class=\"_ _29\"></span>relative <span class=\"_ _2b\"></span>agli <span class=\"_ _29\"></span>strumenti <span class=\"_ _2b\"></span>finanziari <span class=\"_ _2b\"></span>per <span class=\"_ _29\"></span>categorie <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>attivit\u00e0 e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>fi<span class=\"_ _0\"></span>nanziarie; <span class=\"_ _23\"></span>si <span class=\"_ _28\"></span>specifica <span class=\"_ _23\"></span>che<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>nella <span class=\"_ _23\"></span>tabella<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>sono <span class=\"_ _28\"></span>rappresentate <span class=\"_ _23\"></span>anche <span class=\"_ _28\"></span>le <span class=\"_ _23\"></span>voci <span class=\"_ _23\"></span>credit<span class=\"_ _0\"></span>i <span class=\"_ _23\"></span>diversi <span class=\"_ _28\"></span>e <span class=\"_ _28\"></span>altre attivit\u00e0 nonch\u00e9 le voci debiti diversi e altre p<span class=\"_ _0\"></span>assivit\u00e0.  (in migliaia di Euro) 31-dic-22 31-dic-21 Variazione Attivit\u00e0 finanziarie al <span class=\"ff5a\">fair value</span> rilevato<span class=\"_ _29\"></span> a conto economico 11.139  637.620  (626.481) Attivit\u00e0 finanziarie al <span class=\"ff5a\">fair value</span> rilevato<span class=\"_ _29\"></span> a conto economico 17.641   -<span class=\"lsd\">  </span> 17.641  complessivo Costo ammortizzato 333.435  40.729  292.706  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0  362.215  678.349  (316.134) Passivit\u00e0 finanziarie al <span class=\"ff5a\">fair val<span class=\"_ _29\"></span>ue<span class=\"ff56\"> rilevato a conto economic<span class=\"_ _29\"></span>o </span></span>(10.652) (240) (10.412) Passivit\u00e0 finanziarie e debiti al costo<span class=\"_ _29\"></span> ammortizzato (1.085.316) (130.292) (955.024) Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (1.095.968) (130.532) (965.436) 6.2.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Strumenti fin<span class=\"_ _0\"></span>anziari per voce di bilancio<span class=\"_ _0\"></span> Di <span class=\"_ _2d\"> </span>seguito <span class=\"_ _2d\"> </span>si<span class=\"_ _29\"></span> <span class=\"_ _2d\"> </span>rappresentano <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"></span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>dell<span class=\"_ _0\"></span>e <span class=\"_ _2d\"> </span>relative <span class=\"_ _2d\"> </span>voci <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 dicembre <span class=\"ls1\">2022</span>: (in migliaia di Euro) Metodo di valutazione Valore Non Valore  Fair  Valori al 31 dicembre 2022<span class=\"_ _29\"></span> contabile Costo disciplinato Fair Value<span class=\"ff56\"> </span>Value IFRS 7 Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654 76.654 - Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405 17.405 17.405 Altre attivit\u00e0 non correnti 3.106  3.106   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>3.106  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 3.245  3.009  236   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>3.245  Crediti commerciali 95.359  95.359   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>95.359  Attivit\u00e0 finanziarie correnti 110.101  98.962  11.139   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>110.101  Altri crediti ed attivit\u00e0 correnti 15.423  4.155   -<span class=\"lsd\">  </span> 11.268  4.155  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 128.844  128.844   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>128.844  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0 450.137 333.435 28.780 87.922 362.215 (240.758) (240.758)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(240.758) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (155.991) (155.991)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(155.991) Titoli obbligazionari  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 non correnti (109.455) (98.803) (10.652)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(109.455) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (540.725) (540.725)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(540.725) Debiti verso fornitori (68.854) (49.039)  -<span class=\"lsd\">  </span> (19.815) (49.039) Altre passivit\u00e0 correnti Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (1.115.783) (1.085.316) (10.652) (19.815) (1.095.968) (in migliaia di Euro) Metodo di valutazione Valore Non Valore  Fair  Valori al 31 dicembre 2021<span class=\"_ _29\"></span> contabile Costo disciplinatFair Value<span class=\"ff56\"> </span>Value o IFRS 7 Partecipazioni 637.123   -<span class=\"lsd\">  </span> 637.123   -<span class=\"lsd\">  </span> 637.123  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>Altre attivit\u00e0 non correnti 3 <span class=\"ls0\"> </span>3 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 3 <span class=\"ls0\"> </span>Crediti commerciali 5.039  5.039   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 5.039  Altri crediti e attivit\u00e0 corre<span class=\"_ _29\"></span>nti 5.680  5.037   -<span class=\"lsd\">  </span> 643  5.037  Attivit\u00e0 finanziarie correnti 26.444  25.952  492   -<span class=\"lsd\">  </span> 26.444  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 4.698  4.698   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 4.698  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0 678.992  40.729  637.620  643  678.349  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (2.445) (2.440) (5)  -<span class=\"lsd\">  </span> (2.445) Obbligazioni (92.372) (92.372)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (92.372) Altre passivit\u00e0 non correnti (113) (113)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (113) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (29.677) (29.442) (235)  -<span class=\"lsd\">  </span> (29.677) Debiti verso fornitori (2.238) (2.238)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.238) Altre passivit\u00e0 correnti (3.813) (3.687)  -<span class=\"lsd\">  </span> (126) (3.687) Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (130.658) (130.292) (240) (126) (130.292) Il valore contabile delle attivit\u00e0 e passivit\u00e0 finanziarie riconosciute nel presente bilancio non si discosta dal loro <span class=\"ff5a\">fair value</span>. L\u2019IFRS <span class=\"_ _22\"></span>13 <span class=\"_ _22\"></span>stabilisce <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>gerarchia <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>classifica <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>tre <span class=\"_ _22\"></span>livelli <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>input <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>tecniche <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> valutazione <span class=\"_ _23\"></span>adottate <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>misurare <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value. <span class=\"_ _23\"></span>La <span class=\"_ _23\"></span>gerarchia <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _22\"></span>attribuisce <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>massima <span class=\"_ _23\"></span>priorit\u00e0 <span class=\"_ _23\"></span>ai prezzi quotati <span class=\"_ _0\"></span>(non <span class=\"_ _0\"></span>rettificati) <span class=\"_ _0\"></span>in mercati <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>attivit\u00e0 o <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>identiche (dati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Livello 1)<span class=\"_ _0\"></span> e <span class=\"_ _0\"></span>la prio<span class=\"_ _0\"></span>rit\u00e0 minima agli input non osservabil<span class=\"_ _0\"></span>i (dati di Livello 3): \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 1 <span class=\"ff5d\">\u2013</span> quotazioni rilevate su un mercato attivo per attivit\u00e0 o passivit\u00e0 oggetto <span class=\"_ _0\"></span>di valutazione;<span class=\"_ _0\"></span> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">Livello <span class=\"_\"> </span>2 <span class=\"_ _2a\"> </span><span class=\"ff5d\">\u2013</span> <span class=\"_\"> </span><span class=\"ff5a\">input</span> <span class=\"_\"> </span>diversi <span class=\"_ _2a\"> </span>dai <span class=\"_\"> </span>prezz<span class=\"_ _29\"></span>i <span class=\"_\"> </span>quotati <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>cui <span class=\"_\"> </span>al <span class=\"_ _2a\"> </span>punto <span class=\"_\"> </span>precedente, <span class=\"_ _2a\"> </span>che <span class=\"_\"> </span>sono <span class=\"_\"> </span>osservabili </span>direttamente (prezzi) o indirettamente (derivati dai prezzi) sul mer<span class=\"_ _0\"></span>cato;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 3 <span class=\"ff5d\">\u2013</span> <span class=\"ff5a\">input</span> che non sono basati su dati di mercato osservabili.<span class=\"_ _0\"></span> </span></span>Per <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>essere <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022, <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _22\"></span>comparativi, <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021, nella <span class=\"_ _23\"></span>tabella <span class=\"_ _23\"></span>sottostante <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>illustrata <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>gerarchia <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>sono misurate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>ricorrente <span class=\"_ _23\"></span>(nel <span class=\"_ _0\"></span>livello <span class=\"_ _23\"></span>3 <span class=\"_ _0\"></span>sono <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>valori <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>carico <span class=\"_ _23\"></span>delle <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>finanziarie non quotate iscritte al costo in assenza di un <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> disponibile). Valore di  Livelli di Fair Value (in migliaia di Euro) Fair Value 1 2 3 al 31/12/2022 17.405   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 17.405  Partecipazioni 236   -<span class=\"lsd\">  </span> 236<span class=\"lsd\">  </span> -  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 11.139   -<span class=\"lsd\">  </span> 10.967  Attivit\u00e0 finanziarie correnti Totale attivit\u00e0 finanziarie 28.780    <span class=\"ls0\">-  </span>11.203  17.577   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti 10.652   -<span class=\"lsd\">  </span> 10.652   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> Totale passivit\u00e0 finanziarie 10.652    <span class=\"ls0\">-  </span>10.652    <span class=\"ls0\">-  </span>Valore di  Livelli di Fair Value (in migliaia di Euro) Fair Value al 31/12/2021<span class=\"ff5c fs5\"> </span>1 2 3 Partecipazioni 637.123  28.904   -<span class=\"lsd\">  </span> 608.219  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>Attivit\u00e0 finanziarie correnti 492   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 492  Totale attivit\u00e0 finanziarie 637.620  28.904   -<span class=\"lsd\">  </span> 608.716  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (5)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (5) Debiti e passivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> (235)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (235) Totale passivit\u00e0 finanziarie (240)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (240) Riclassificazione strumenti finanziari<span class=\"_ _0\"></span> Con <span class=\"_ _23\"></span>riferimento <span class=\"_ _22\"></span>alle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>misurate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>su <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>ricorrente<span class=\"lsb\">, </span>nell\u2019esercizio <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span><span class=\"ff56\">non <span class=\"_\"> </span>c<span class=\"_ _29\"></span>i <span class=\"_ _2a\"> </span>sono <span class=\"_\"> </span>stati <span class=\"_ _2a\"> </span>trasferimenti <span class=\"_ _2a\"> </span>dal <span class=\"_\"> </span>livello <span class=\"_ _2a\"> </span>3 <span class=\"_ _2a\"> </span>ad <span class=\"_ _2a\"> </span>altri <span class=\"_ _2a\"> </span>livelli <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>viceversa <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da </span>cambiamenti nelle significative variabili di in<span class=\"_ _0\"></span>put delle tecniche valutativ<span class=\"_ _0\"></span>e osservabili.  Gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>rilevati <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>situazione <span class=\"_ _23\"></span>patrimoniale<span class=\"ff5d\">\u2013</span>finanziaria <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre 2021 <span class=\"ls0\">(rappresentati nella tabella in basso) includevano prin<span class=\"_ _0\"></span>cipalmente gli in<span class=\"_ _0\"></span>vestimenti partecipativi per <span class=\"_ _0\"></span>la cui </span>valutazione <span class=\"_ _22\"></span>erano <span class=\"_ _22\"></span>stati <span class=\"_ _22\"></span>utilizzati <span class=\"_ _22\"></span><span class=\"ff5a\">inpu<span class=\"_ _0\"></span>t <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _22\"></span>livello <span class=\"_ _22\"></span>3, <span class=\"_ _22\"></span>fatta <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>per <span class=\"_ _0\"></span>l\u2019investimento <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CU<span class=\"_ _0\"></span>LTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>SpA </span></span>che <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"_ _2b\"></span>2021 <span class=\"_ _29\"></span>era <span class=\"_ _2b\"></span>stato <span class=\"_ _2b\"></span>valutato <span class=\"_ _2b\"></span>sulla <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>(Livello <span class=\"_ _2b\"></span>1). <span class=\"_ _29\"></span>Si <span class=\"_ _2b\"></span>ricorda <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>bilancio </span>2022, in considera<span class=\"ff5d\">zion<span class=\"_ _0\"></span>e del \u201ccambio di stato\u201d <span class=\"_ _0\"></span>la Societ\u00e0 ha proceduto<span class=\"_ _0\"></span> a consolidare integralmente <span class=\"_ _22\"></span></span>i principali investimenti <span class=\"_ _29\"></span>partecipativi <span class=\"_ _2b\"></span>di controllo <span class=\"_ _2b\"></span>(tra <span class=\"_ _2b\"></span>cui <span class=\"ff5d ls9\">l\u2019i</span>nvestimento <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>CULTI <span class=\"_ _2b\"></span>Milano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>SpA<span class=\"_ _0\"></span>, <span class=\"_ _2b\"></span>per Euro <span class=\"_ _2b\"></span>28.904 <span class=\"_ _29\"></span>migliaia, che era precedentemente evidenziato a Livello <span class=\"_ _0\"></span>1). 6.3.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Valore noziona<span class=\"_ _0\"></span>le degli strumenti finanziari e dei derivati<span class=\"_ _0\"></span> (in migliaia di Euro) Gruppo CULTI Tipologia IRS  IRS  IRS  Finalit\u00e0 Copertura Copertura Copertura Valore nozionale originari<span class=\"_ _29\"></span>o 2.500  800  1.000  Valore nozionale 31/12/2022 2.037  800  1.000  Valore di bilancio 116  49  71  Anno scadenza 2026 2026 2029 (in migliaia di Euro) Gruppo KME SE Tipologia LME Firm Committment Valore nozionale 31/12/2022 426.186  236.036 Data scadenza 2023 2023 6.4.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> credito L'esposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>rischi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>sua <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erativa <span class=\"_ _2d\"> </span>(in particolare <span class=\"_ _2d\"> </span>settore <span class=\"_ _2d\"> </span>Rame). <span class=\"_ _2a\"> </span><span class=\"ff5d\">Il <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>l\u2019e<span class=\"_ _0\"></span>sposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>potenziali <span class=\"_ _2d\"> </span>perdit<span class=\"_ _0\"></span>e </span>derivanti <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>mancato <span class=\"_ _0\"></span>adempimento <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>obbligaz<span class=\"_ _0\"></span>ioni <span class=\"_ _0\"></span>assunte <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>controparti <span class=\"_ _0\"></span>sia commercial<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>sia <span class=\"_ _0\"></span>finanziarie. Tale <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>discende <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>incipalmente <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>fatto<span class=\"_ _0\"></span>ri <span class=\"_ _0\"></span>economico<span class=\"_ _0\"></span>-finanziari, <span class=\"_ _22\"></span>ovvero <span class=\"_ _0\"></span>dalla <span class=\"_ _0\"></span>possibilit\u00e0 <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>verifichi una situazione di default di una controparte, o<span class=\"_ _0\"></span>vvero da fattori pi\u00f9 strettamente te<span class=\"_ _0\"></span>cnico-commerciali. La <span class=\"_ _0\"></span>massima <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>sposizione <span class=\"_ _0\"></span>teorica <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>rischio <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>credito <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rappresenta<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>contabile delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>iscritti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>bilancio. <span class=\"_ _23\"></span>Si <span class=\"_ _23\"></span>segnala <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>alcune <span class=\"_ _23\"></span>posizioni <span class=\"_ _23\"></span>creditorie <span class=\"_ _23\"></span>risultano garantite (i.e. per quanto riguarda i <span class=\"_ _0\"></span>crediti commerciali, gran parte del ri<span class=\"_ _0\"></span>schio \u00e8 garantito dal factorin<span class=\"_ _0\"></span>g). La <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>centrazione <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>caso <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>limitata <span class=\"_ _28\"></span>grazie all'ampia ed eterogenea base di clienti. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>accantonamenti <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>fond<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>svalutazione <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>so<span class=\"_ _0\"></span>no <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>maniera <span class=\"_ _28\"></span>specifica <span class=\"_ _2c\"></span>sulle <span class=\"_ _28\"></span>posizioni creditorie <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>esentano <span class=\"_ _2d\"> </span>elementi <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2d\"> </span>peculiari. <span class=\"_ _2d\"> </span>Sulle <span class=\"_ _2d\"> </span>posizioni <span class=\"_ _2c\"> </span>credito<span class=\"_ _0\"></span>rie <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2d\"> </span>presentano <span class=\"_ _2c\"> </span>tali<span class=\"_ _0\"></span> caratteristiche, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>invece <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span>bas<span class=\"_ _0\"></span><span class=\"ff5d\">e <span class=\"_ _23\"></span>dell\u2019esigibilit\u00e0 <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>sti<span class=\"_ _0\"></span>mata <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>funzione <span class=\"_ _22\"></span>di </span>indicatori <span class=\"_ _2d\"> </span>statistici: <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2d\"> </span>viene <span class=\"_ _2d\"> </span>efffettuata <span class=\"_ _2d\"> </span>tramite <span class=\"_ _2d\"> </span>portafogli <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>clienti <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>dell'esperienza passata, azioni e/o informazioni finanziarie<span class=\"_ _0\"></span>, nonch\u00e9 delle linee di credito<span class=\"_ _0\"></span> e vengono operate svalutazion<span class=\"_ _0\"></span>i. Per <span class=\"_ _0\"></span>quanto <span class=\"_ _22\"></span>concerne <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>risc<span class=\"_ _0\"></span>hio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>credito <span class=\"_ _0\"></span>afferente <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>componenti <span class=\"_ _22\"></span>attive <span class=\"_ _22\"></span>nonch\u00e9 <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>strumenti <span class=\"_ _0\"></span>finanziari<span class=\"_ _0\"></span> derivati, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>solvibilit\u00e0 <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>limitato <span class=\"_ _23\"></span>dal <span class=\"_ _23\"></span>fatto <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>relativi <span class=\"_ _23\"></span>contratti <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stipulati <span class=\"_ _23\"></span>esclusivamente <span class=\"_ _23\"></span>con controparti e/o istituti di credito con un <span class=\"_ _0\"></span><span class=\"ff5a\">rating</span> affidabile. 6.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> cambio Al <span class=\"_ _28\"></span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _28\"></span>2<span class=\"_ _0\"></span>021 <span class=\"_ _28\"></span>non <span class=\"_ _2c\"></span>erano <span class=\"_ _28\"></span>presenti <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>valuta <span class=\"_ _2c\"></span>estera, <span class=\"_ _2c\"></span>diversamente, <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>fronte dell\u2019incremento <span class=\"_ _2d\"> </span>dell\u2019area <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>consolidamento, <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2c\"> </span>ha <span class=\"_ _2d\"> </span>operato <span class=\"_ _2d\"> </span><span class=\"ff56\">a <span class=\"_ _2c\"> </span>livello <span class=\"_ _2d\"> </span>internazionale <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>ha </span>condotto le proprie transazioni in<span class=\"_ _0\"></span> diverse valute.  Nel <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>queste <span class=\"_ _28\"></span>operazioni, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>ricavi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>generati <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>valute <span class=\"_ _28\"></span>diverse <span class=\"_ _28\"></span>dalla <span class=\"_ _28\"></span>valuta <span class=\"_ _28\"></span>funzio<span class=\"_ _0\"></span>nale <span class=\"_ _23\"></span>della<span class=\"_ _0\"></span> Capogruppo. <span class=\"_\"> </span>La <span class=\"_\"> </span>politica <span class=\"_\"> </span>del <span class=\"_\"> </span>Gruppo <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>quella <span class=\"_\"> </span>di <span class=\"_\"> </span>monitorare <span class=\"_\"> </span>ed <span class=\"_\"> </span>eventualmente <span class=\"_ _8b\"> </span>coprire <span class=\"_\"> </span>i <span class=\"_\"> </span>suddetti <span class=\"_\"> </span>rischi utilizzando strumenti finanziari derivati, quali <span class=\"_ _0\"></span><span class=\"ff5a\">cross currency swap<span class=\"_ _0\"></span></span> e contratti a termine. I rischi valutari sono relativi principalmente al d<span class=\"_ _0\"></span>ollaro: (in migliaia di Euro) USD GBP CHF Esposizione lorda 32.355  3.722  1.065  Forward exchange contracts 35.578  3.958  862  Esposizione netta (3.223) (236) 203  Un <span class=\"_ _22\"></span>rafforzamento <span class=\"_ _22\"></span>(indebolimento) <span class=\"_ _22\"></span>realisticamente <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssibile <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>te <span class=\"_ _0\"></span>rispetto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>alle <span class=\"_ _0\"></span>altre <span class=\"_ _22\"></span>valute <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 dicembre <span class=\"_ _2b\"></span>avrebbe <span class=\"_ _29\"></span>influenzato <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>strumenti <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>valuta <span class=\"_ _2b\"></span>estera <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>essenzialmente <span class=\"_ _29\"></span>l'utile o la perdita <span class=\"ff5d\">d\u2019esercizio</span><span class=\"lsb\">. </span> Nell'analisi di sensitivit\u00e0 per le valute si \u00e8 ipotizzato che il tasso di cambio dell'<span class=\"_ _0\"></span>Euro rispetto alla valuta estera vari del <span class=\"_ _29\"></span>+/-10 % in <span class=\"_ _29\"></span>ciascun caso. <span class=\"_ _29\"></span>Se l'Euro fosse <span class=\"_ _29\"></span>stato pi\u00f9 forte<span class=\"_ _29\"></span> o pi\u00f9 <span class=\"_ _29\"></span>debole del <span class=\"_ _29\"></span>10% rispetto alla <span class=\"_ _29\"></span>valuta estera ri<span class=\"_ _0\"></span>spetto <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>dominante <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>bilancio<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>capitale <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>rio <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>risultato <span class=\"_ _0\"></span>annuale <span class=\"_ _0\"></span>sarebbero <span class=\"_ _0\"></span>stati modificati secondo lo schema presentato nella tabella segu<span class=\"_ _0\"></span>ente.  Nell'analisi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ipotizza <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>tutti <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _22\"></span>fattori <span class=\"_ _22\"></span>d'influenza, <span class=\"_ _22\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>particolare <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>tassi <span class=\"_ _22\"></span>d'interesse, <span class=\"_ _22\"></span>rimangano costanti.  Nel cal<span class=\"_ _0\"></span>colo <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>incluse <span class=\"_ _0\"></span>tutte <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>posizioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>valuta <span class=\"_ _0\"></span>estera <span class=\"_ _0\"></span>rilevanti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>fatturato <span class=\"_ _0\"></span>previsto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>periodo<span class=\"_ _0\"></span> successivo, tenuto conto del rischio di cambio.<span class=\"_ _0\"></span> (in migliaia di Euro) USD GBP CHF Rafforzamento 10% (322) (24) 20  Indebolimento 10% 322  24  (20) 6.6.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> fluttuazione valore azioni<span class=\"_ _0\"></span> Il valore <span class=\"_ _2b\"></span>contabile delle attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie rappresenta l\u2019esposizione <span class=\"_ _2b\"></span>massima <span class=\"ff56\">del Gruppo a<span class=\"_ _29\"></span> tale <span class=\"_ _2b\"></span>rischio. </span>6.7.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> tasso di interesse Al <span class=\"_ _22\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>2022 <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _23\"></span>fruttifere <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>interessi <span class=\"_ _23\"></span>presentano <span class=\"_ _23\"></span>la seguente esposizione al rischio tasso<span class=\"_ _0\"></span> di interesse: (in milioni di Euro) +100 Basis Point - 50 Basis Point Effetto sul risultato d'esercizi<span class=\"_ _29\"></span>o 2022 3,3  (1,6) Effetto sul Patrimonio Nett<span class=\"_ _29\"></span>o 2022 3,3  (1,6) Alla data di <span class=\"_ _29\"></span>chiusura del presente <span class=\"_ _29\"></span>Bilancio Consolidato, sono in <span class=\"_ _2b\"></span>essere i IRS Swap a copertura del <span class=\"_ _29\"></span>tasso di interesse del finanziamento in capo a<span class=\"_ _0\"></span>: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">CULTI <span class=\"_ _2b\"></span>Milano <span class=\"_ _2b\"></span>S.p.A. relativamente <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>finanziamento <span class=\"_ _2b\"></span>acceso nell\u2019<span class=\"ff56\">esercizio <span class=\"_ _2b\"></span>2020 <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>2,5 <span class=\"_ _29\"></span>milioni </span></span></span>con l\u2019istituto ICCREA<span class=\"ff56\"> Banca;  </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Scent Company Srl <span class=\"ls3\">acceso</span> <span class=\"ff5d\">nell\u2019esercizio 20<span class=\"_ _0\"></span>20 di Euro 0,8 milioni con l\u2019istituto Intesa San<span class=\"_ _0\"></span></span>paolo; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Bakel <span class=\"_ _2b\"></span>Srl <span class=\"_ _2b\"></span><span class=\"ff5d\">relativamente <span class=\"_ _2b\"></span>al <span class=\"_ _3d\"></span>f<span class=\"_ _0\"></span>inanziamento <span class=\"_ _2b\"></span>acceso <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"_ _2b\"></span>2022 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Euro <span class=\"_ _2b\"></span>0,8 <span class=\"_ _2b\"></span>milioni <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>l\u2019<span class=\"_ _0\"></span><span class=\"ff56\">istituto </span></span></span></span>ICCREA Banca. Al <span class=\"_ _29\"></span>termine <span class=\"_ _29\"></span>dell\u2019esercizio 2021, <span class=\"_ _2b\"></span>un incremento <span class=\"_ _29\"></span>(o <span class=\"_ _29\"></span>decremento) <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>50 <span class=\"ff5a\">basis <span class=\"_ _2b\"></span>po<span class=\"_ _0\"></span>int<span class=\"ff56\"> dei <span class=\"_ _2b\"></span>tassi di <span class=\"_ _2b\"></span>inte<span class=\"_ _0\"></span>resse <span class=\"_ _29\"></span>alla </span></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>riferi<span class=\"_ _0\"></span>mento <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>avrebbe <span class=\"_ _22\"></span>compo<span class=\"_ _0\"></span>rtato <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>incremento <span class=\"_ _23\"></span>(decremento) <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>patrimonio <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span> risultato di circa Euro <span class=\"ls1\">25</span> migliaia.  6.8.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> liquidit\u00e0 Il <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>liquidit\u00e0 <span class=\"_ _2c\"></span>pu\u00f2 <span class=\"_ _28\"></span>sorg<span class=\"_ _0\"></span>ere <span class=\"_ _28\"></span>dalle<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>difficol<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _28\"></span>ad <span class=\"_ _2c\"></span>ottenere <span class=\"_ _2c\"></span>finanziamenti <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>sup<span class=\"_ _0\"></span>porto <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 operative nella giusta tempistica. <span class=\"_ _0\"></span> Una sufficiente disponibilit\u00e0 di liquidit\u00e0 per il Grupp<span class=\"_ _0\"></span>o \u00e8 garantita dal flusso di cassa del Gruppo e dalle banche <span class=\"_ _28\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>linee <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cre<span class=\"_ _0\"></span>dito <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>breve <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>lungo <span class=\"_ _2c\"></span>termine. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>fluttuazioni <span class=\"_ _2c\"></span>nell'andamento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>flusso <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>cassa possono quindi essere assorbite<span class=\"_ _0\"></span>; le passivit\u00e0 del Gruppo<span class=\"_ _0\"></span> sono principalmente cos\u00ec distribuite:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">strumenti finanziari derivati: orizzonte temporale entro i 3 <span class=\"_ _0\"></span>mesi; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">passivit\u00e0 finanziarie diverse dagli strumenti finanziari d<span class=\"_ _0\"></span>erivati: orizzonte temporale da 1 a 5 anni<span class=\"_ _0\"></span>. </span></span>Si ricorda che sono in essere i due prestiti o<span class=\"_ _0\"></span>bbligazionari della Capogruppo:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">KME <span class=\"_ _2b\"></span>Group <span class=\"_ _2b\"></span>2020/2025<span class=\"ff56\">, <span class=\"_ _2b\"></span>emesso <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>f<span class=\"_ _0\"></span>ebbraio <span class=\"_ _2b\"></span>2020, <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>circolazione <span class=\"_ _2b\"></span>pe<span class=\"_ _0\"></span>r <span class=\"_ _2b\"></span>nomin<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>Euro 92.819<span class=\"_ _0\"></span> migliaia, </span></span></span>con un tasso fisso del 4,5% (cedola annuale);<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>KME <span class=\"_ _2a\"> </span>Group <span class=\"_ _2a\"> </span>2022/2027<span class=\"ff56\">, <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>a<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>settembre <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2a\"> </span>in <span class=\"_ _2d\"> </span>circolazi<span class=\"_ _0\"></span>one <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>nominali <span class=\"_ _2a\"> </span>Euro <span class=\"_ _2a\"> </span>63.533 </span>migliaia con un tasso fisso del 5,0% (cedola ann<span class=\"_ _0\"></span>uale). 6.9.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> prezzo materie prime Come <span class=\"_ _28\"></span>risultato <span class=\"_ _28\"></span>delle <span class=\"_ _28\"></span>sue <span class=\"_ _28\"></span>operazioni <span class=\"_ _28\"></span>commerciali, <span class=\"_ _23\"></span>il<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>Gruppo <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _28\"></span>esposto <span class=\"_ _28\"></span>ai <span class=\"_ _28\"></span>rischi <span class=\"_ _28\"></span>legati <span class=\"_ _28\"></span>ai <span class=\"_ _23\"></span>pr<span class=\"_ _0\"></span>ezzi <span class=\"_ _28\"></span>delle materie prime. Per mitigare tali rischi vengo<span class=\"_ _0\"></span>no stipulati, tra le altre misure, contratti a termine. <span class=\"_ _0\"></span> Il volume nominale degli strumenti finanziari derivati <span class=\"_ _0\"></span>relativi a rame, zinco, nichel, stagno e alluminio, che <span class=\"_ _0\"></span>risultano <span class=\"_ _22\"></span>dal <span class=\"_ _22\"></span>totale <span class=\"_ _0\"></span>lord<span class=\"_ _0\"></span>o <span class=\"_ _0\"></span>degli <span class=\"_ _22\"></span>importi <span class=\"_ _22\"></span>nominali <span class=\"_ _0\"></span>dei <span class=\"_ _22\"></span>singoli <span class=\"_ _23\"></span>contratti <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>acqui<span class=\"_ _0\"></span>sto <span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>vendita <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _22\"></span>pari <span class=\"_ _22\"></span>ad <span class=\"_ _0\"></span>Euro<span class=\"_ _0\"></span> 662 milioni al 31 dicembre 2022.<span class=\"_ _0\"></span> In <span class=\"_ _0\"></span>conformit\u00e0 <span class=\"_ _0\"></span>all'IFRS <span class=\"_ _0\"></span>7,<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>rischi <span class=\"_ _0\"></span>legati <span class=\"_ _0\"></span>al <span class=\"_ _22\"></span>prezzo <span class=\"_ _0\"></span>d<span class=\"_ _0\"></span>elle <span class=\"_ _0\"></span>commodity <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>illustrati <span class=\"_ _0\"></span>sotto <span class=\"_ _22\"></span>forma <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>analisi di sensitivit\u00e0, che riflette gli effetti di <span class=\"_ _29\"></span>una variazione dei prezzi delle commodity sull'utile <span class=\"_ _29\"></span>netto <span class=\"ff5d\">dell\u2019esercizio</span>. Nel <span class=\"_ _2d\"> </span>caso <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>un <span class=\"_ _2d\"> </span>aumento <span class=\"_ _2d\"> </span>(diminuzione) <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>100 <span class=\"_ _2d\"> </span>euro/tonnellata <span class=\"_ _2d\"> </span>del <span class=\"_ _2a\"> </span><span class=\"ff5a\">fair <span class=\"_ _2d\"> </span>value</span> <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>tutti <span class=\"_ _2d\"> </span>i <span class=\"_ _2d\"> </span>prezzi <span class=\"_ _2d\"> </span>delle commodity<span class=\"ff56\"> <span class=\"_ _22\"></span>rilevanti, <span class=\"_ _0\"></span>come <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>il <span class=\"_ _0\"></span>periodo <span class=\"_ _22\"></span>di <span class=\"_ _22\"></span>riferimento, <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>verificherebb<span class=\"_ _0\"></span>e <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>variazione <span class=\"_ _0\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>Euro <span class=\"_ _22\"></span>3,6 <span class=\"_ _22\"></span>milioni </span>(peggioramento in caso di incremento prezzi/miglio<span class=\"_ _0\"></span>ramento in caso di decremento prezzi).<span class=\"_ _0\"></span> Il <span class=\"_ _23\"></span><span class=\"ls0\">sud<span class=\"_ _0\"></span>detto <span class=\"_ _28\"></span>calcolo <span class=\"_ _23\"></span>in<span class=\"_ _0\"></span>clude <span class=\"_ _23\"></span>tu<span class=\"_ _0\"></span>tti <span class=\"_ _28\"></span>gli <span class=\"_ _23\"></span>str<span class=\"_ _0\"></span>umenti <span class=\"_ _28\"></span>finanziari <span class=\"_ _23\"></span>deriv<span class=\"_ _0\"></span>ati <span class=\"_ _28\"></span>sul <span class=\"_ _23\"></span>metallo <span class=\"_ _28\"></span>all<span class=\"_ _0\"></span>a <span class=\"_ _28\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>chiusura <span class=\"_ _28\"></span>del </span>bilancio.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__142": {
   "value": "6.2.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Strumenti fin<span class=\"_ _0\"></span>anziari per voce di bilancio<span class=\"_ _0\"></span> Di <span class=\"_ _2d\"> </span>seguito <span class=\"_ _2d\"> </span>si<span class=\"_ _29\"></span> <span class=\"_ _2d\"> </span>rappresentano <span class=\"_ _2d\"> </span>gli <span class=\"_ _2c\"></span>strumenti <span class=\"_ _2d\"> </span>finanziari <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2c\"></span>dell<span class=\"_ _0\"></span>e <span class=\"_ _2d\"> </span>relative <span class=\"_ _2d\"> </span>voci <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"></span>bilancio <span class=\"_ _2d\"> </span>al <span class=\"_ _2d\"> </span>31 dicembre <span class=\"ls1\">2022</span>: (in migliaia di Euro) Metodo di valutazione Valore Non Valore  Fair  Valori al 31 dicembre 2022<span class=\"_ _29\"></span> contabile Costo disciplinato Fair Value<span class=\"ff56\"> </span>Value IFRS 7 Partecipazioni a patrimonio ne<span class=\"_ _29\"></span>tto 76.654 76.654 - Partecipazioni in altre impres<span class=\"_ _29\"></span>e 17.405 17.405 17.405 Altre attivit\u00e0 non correnti 3.106  3.106   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>3.106  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 3.245  3.009  236   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>3.245  Crediti commerciali 95.359  95.359   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>95.359  Attivit\u00e0 finanziarie correnti 110.101  98.962  11.139   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>110.101  Altri crediti ed attivit\u00e0 correnti 15.423  4.155   -<span class=\"lsd\">  </span> 11.268  4.155  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 128.844  128.844   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>128.844  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0 450.137 333.435 28.780 87.922 362.215 (240.758) (240.758)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(240.758) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (155.991) (155.991)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(155.991) Titoli obbligazionari  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Altre passivit\u00e0 non correnti (109.455) (98.803) (10.652)  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(109.455) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (540.725) (540.725)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>(540.725) Debiti verso fornitori (68.854) (49.039)  -<span class=\"lsd\">  </span> (19.815) (49.039) Altre passivit\u00e0 correnti Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (1.115.783) (1.085.316) (10.652) (19.815) (1.095.968) (in migliaia di Euro) Metodo di valutazione Valore Non Valore  Fair  Valori al 31 dicembre 2021<span class=\"_ _29\"></span> contabile Costo disciplinatFair Value<span class=\"ff56\"> </span>Value o IFRS 7 Partecipazioni 637.123   -<span class=\"lsd\">  </span> 637.123   -<span class=\"lsd\">  </span> 637.123  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>Altre attivit\u00e0 non correnti 3 <span class=\"ls0\"> </span>3 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 3 <span class=\"ls0\"> </span>Crediti commerciali 5.039  5.039   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 5.039  Altri crediti e attivit\u00e0 corre<span class=\"_ _29\"></span>nti 5.680  5.037   -<span class=\"lsd\">  </span> 643  5.037  Attivit\u00e0 finanziarie correnti 26.444  25.952  492   -<span class=\"lsd\">  </span> 26.444  Disponibilit\u00e0 liquide e mezzi <span class=\"_ _29\"></span>equivalenti 4.698  4.698   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 4.698  Strumenti finanziari <span class=\"ff5b\">\u2013</span> Atti<span class=\"_ _29\"></span>vit\u00e0 678.992  40.729  637.620  643  678.349  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (2.445) (2.440) (5)  -<span class=\"lsd\">  </span> (2.445) Obbligazioni (92.372) (92.372)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (92.372) Altre passivit\u00e0 non correnti (113) (113)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (113) Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>correnti (29.677) (29.442) (235)  -<span class=\"lsd\">  </span> (29.677) Debiti verso fornitori (2.238) (2.238)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (2.238) Altre passivit\u00e0 correnti (3.813) (3.687)  -<span class=\"lsd\">  </span> (126) (3.687) Strumenti finanziari <span class=\"ff5b\">\u2013</span> Pass<span class=\"_ _29\"></span>ivit\u00e0 (130.658) (130.292) (240) (126) (130.292) Il valore contabile delle attivit\u00e0 e passivit\u00e0 finanziarie riconosciute nel presente bilancio non si discosta dal loro <span class=\"ff5a\">fair value</span>. L\u2019IFRS <span class=\"_ _22\"></span>13 <span class=\"_ _22\"></span>stabilisce <span class=\"_ _22\"></span>una <span class=\"_ _22\"></span>gerarchia <span class=\"_ _22\"></span>del <span class=\"_ _22\"></span>fair <span class=\"_ _22\"></span>value <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>classifica <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>tre <span class=\"_ _22\"></span>livelli <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>input <span class=\"_ _22\"></span>delle <span class=\"_ _22\"></span>tecniche <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> valutazione <span class=\"_ _23\"></span>adottate <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>misurare <span class=\"_ _22\"></span>il <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value. <span class=\"_ _23\"></span>La <span class=\"_ _23\"></span>gerarchia <span class=\"_ _23\"></span>del <span class=\"_ _23\"></span>fair <span class=\"_ _23\"></span>value <span class=\"_ _22\"></span>attribuisce <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>massima <span class=\"_ _23\"></span>priorit\u00e0 <span class=\"_ _23\"></span>ai prezzi quotati <span class=\"_ _0\"></span>(non <span class=\"_ _0\"></span>rettificati) <span class=\"_ _0\"></span>in mercati <span class=\"_ _0\"></span>attivi <span class=\"_ _0\"></span>per <span class=\"_ _0\"></span>attivit\u00e0 o <span class=\"_ _0\"></span>passivit\u00e0 <span class=\"_ _0\"></span>identiche (dati <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>Livello 1)<span class=\"_ _0\"></span> e <span class=\"_ _0\"></span>la prio<span class=\"_ _0\"></span>rit\u00e0 minima agli input non osservabil<span class=\"_ _0\"></span>i (dati di Livello 3): \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 1 <span class=\"ff5d\">\u2013</span> quotazioni rilevate su un mercato attivo per attivit\u00e0 o passivit\u00e0 oggetto <span class=\"_ _0\"></span>di valutazione;<span class=\"_ _0\"></span> </span></span>\u25aa <span class=\"_ _30\"> </span><span class=\"ff56\">Livello <span class=\"_\"> </span>2 <span class=\"_ _2a\"> </span><span class=\"ff5d\">\u2013</span> <span class=\"_\"> </span><span class=\"ff5a\">input</span> <span class=\"_\"> </span>diversi <span class=\"_ _2a\"> </span>dai <span class=\"_\"> </span>prezz<span class=\"_ _29\"></span>i <span class=\"_\"> </span>quotati <span class=\"_\"> </span>di <span class=\"_ _2a\"> </span>cui <span class=\"_\"> </span>al <span class=\"_ _2a\"> </span>punto <span class=\"_\"> </span>precedente, <span class=\"_ _2a\"> </span>che <span class=\"_\"> </span>sono <span class=\"_\"> </span>osservabili </span>direttamente (prezzi) o indirettamente (derivati dai prezzi) sul mer<span class=\"_ _0\"></span>cato;<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Livello 3 <span class=\"ff5d\">\u2013</span> <span class=\"ff5a\">input</span> che non sono basati su dati di mercato osservabili.<span class=\"_ _0\"></span> </span></span>Per <span class=\"_ _22\"></span>gli <span class=\"_ _22\"></span>strumenti <span class=\"_ _22\"></span>finanziari <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>essere <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022, <span class=\"_ _22\"></span>e <span class=\"_ _22\"></span>ai <span class=\"_ _22\"></span>fini <span class=\"_ _22\"></span>comparativi, <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2021, nella <span class=\"_ _23\"></span>tabella <span class=\"_ _23\"></span>sottostante <span class=\"_ _28\"></span>\u00e8 <span class=\"_ _23\"></span>illustrata <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>gerarchia <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _28\"></span>delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _28\"></span>che <span class=\"_ _23\"></span>sono misurate <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>su <span class=\"_ _22\"></span>base <span class=\"_ _22\"></span>ricorrente <span class=\"_ _23\"></span>(nel <span class=\"_ _0\"></span>livello <span class=\"_ _23\"></span>3 <span class=\"_ _0\"></span>sono <span class=\"_ _23\"></span>inclusi <span class=\"_ _22\"></span>i <span class=\"_ _22\"></span>valori <span class=\"_ _23\"></span>di <span class=\"_ _0\"></span>carico <span class=\"_ _23\"></span>delle <span class=\"_ _0\"></span>attiv<span class=\"_ _0\"></span>it\u00e0 <span class=\"_ _22\"></span>finanziarie non quotate iscritte al costo in assenza di un <span class=\"_ _0\"></span><span class=\"ff5a\">fair value</span> disponibile). Valore di  Livelli di Fair Value (in migliaia di Euro) Fair Value 1 2 3 al 31/12/2022 17.405   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 17.405  Partecipazioni 236   -<span class=\"lsd\">  </span> 236<span class=\"lsd\">  </span> -  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 11.139   -<span class=\"lsd\">  </span> 10.967  Attivit\u00e0 finanziarie correnti Totale attivit\u00e0 finanziarie 28.780    <span class=\"ls0\">-  </span>11.203  17.577   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti 10.652   -<span class=\"lsd\">  </span> 10.652   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Debiti e passivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> Totale passivit\u00e0 finanziarie 10.652    <span class=\"ls0\">-  </span>10.652    <span class=\"ls0\">-  </span>Valore di  Livelli di Fair Value (in migliaia di Euro) Fair Value al 31/12/2021<span class=\"ff5c fs5\"> </span>1 2 3 Partecipazioni 637.123  28.904   -<span class=\"lsd\">  </span> 608.219  Attivit\u00e0 finanziarie non corrent<span class=\"_ _29\"></span>i 5 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 5 <span class=\"ls0\"> </span>Attivit\u00e0 finanziarie correnti 492   -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> 492  Totale attivit\u00e0 finanziarie 637.620  28.904   -<span class=\"lsd\">  </span> 608.716  Debiti e passivit\u00e0 finanziarie <span class=\"_ _29\"></span>non correnti (5)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (5) Debiti e passivit\u00e0 finanziarie correnti<span class=\"_ _29\"></span> (235)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (235) Totale passivit\u00e0 finanziarie (240)  -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span> (240) Riclassificazione strumenti finanziari<span class=\"_ _0\"></span> Con <span class=\"_ _23\"></span>riferimento <span class=\"_ _22\"></span>alle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _22\"></span>e <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _22\"></span>finanziarie <span class=\"_ _23\"></span>che <span class=\"_ _22\"></span>son<span class=\"_ _0\"></span>o <span class=\"_ _22\"></span>misurate <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _22\"></span>su <span class=\"_ _23\"></span>base <span class=\"_ _22\"></span>ricorrente<span class=\"lsb\">, </span>nell\u2019esercizio <span class=\"_\"> </span>2022 <span class=\"_ _2a\"> </span><span class=\"ff56\">non <span class=\"_\"> </span>c<span class=\"_ _29\"></span>i <span class=\"_ _2a\"> </span>sono <span class=\"_\"> </span>stati <span class=\"_ _2a\"> </span>trasferimenti <span class=\"_ _2a\"> </span>dal <span class=\"_\"> </span>livello <span class=\"_ _2a\"> </span>3 <span class=\"_ _2a\"> </span>ad <span class=\"_ _2a\"> </span>altri <span class=\"_ _2a\"> </span>livelli <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>viceversa <span class=\"_ _2a\"> </span>derivanti <span class=\"_\"> </span>da </span>cambiamenti nelle significative variabili di in<span class=\"_ _0\"></span>put delle tecniche valutativ<span class=\"_ _0\"></span>e osservabili.  Gli <span class=\"_ _23\"></span>strumenti <span class=\"_ _23\"></span>finanziari <span class=\"_ _22\"></span>al <span class=\"_ _23\"></span><span class=\"ff5a\">fair <span class=\"_ _23\"></span>value</span> <span class=\"_ _23\"></span>rilevati <span class=\"_ _22\"></span>nella <span class=\"_ _23\"></span>situazione <span class=\"_ _23\"></span>patrimoniale<span class=\"ff5d\">\u2013</span>finanziaria <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre 2021 <span class=\"ls0\">(rappresentati nella tabella in basso) includevano prin<span class=\"_ _0\"></span>cipalmente gli in<span class=\"_ _0\"></span>vestimenti partecipativi per <span class=\"_ _0\"></span>la cui </span>valutazione <span class=\"_ _22\"></span>erano <span class=\"_ _22\"></span>stati <span class=\"_ _22\"></span>utilizzati <span class=\"_ _22\"></span><span class=\"ff5a\">inpu<span class=\"_ _0\"></span>t <span class=\"_ _22\"></span><span class=\"ff5d\">di <span class=\"_ _22\"></span>livello <span class=\"_ _22\"></span>3, <span class=\"_ _22\"></span>fatta <span class=\"_ _22\"></span>eccezione <span class=\"_ _23\"></span>per <span class=\"_ _0\"></span>l\u2019investimento <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>CU<span class=\"_ _0\"></span>LTI <span class=\"_ _22\"></span>Milano <span class=\"_ _22\"></span>SpA </span></span>che <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"_ _2b\"></span>2021 <span class=\"_ _29\"></span>era <span class=\"_ _2b\"></span>stato <span class=\"_ _2b\"></span>valutato <span class=\"_ _2b\"></span>sulla <span class=\"_ _29\"></span>base <span class=\"_ _2b\"></span>dei <span class=\"_ _2b\"></span>prezzi <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>mercato<span class=\"_ _0\"></span><span class=\"ff56\"> <span class=\"_ _2b\"></span>(Livello <span class=\"_ _2b\"></span>1). <span class=\"_ _29\"></span>Si <span class=\"_ _2b\"></span>ricorda <span class=\"_ _2b\"></span>che <span class=\"_ _2b\"></span>nel <span class=\"_ _29\"></span>bilancio </span>2022, in considera<span class=\"ff5d\">zion<span class=\"_ _0\"></span>e del \u201ccambio di stato\u201d <span class=\"_ _0\"></span>la Societ\u00e0 ha proceduto<span class=\"_ _0\"></span> a consolidare integralmente <span class=\"_ _22\"></span></span>i principali investimenti <span class=\"_ _29\"></span>partecipativi <span class=\"_ _2b\"></span>di controllo <span class=\"_ _2b\"></span>(tra <span class=\"_ _2b\"></span>cui <span class=\"ff5d ls9\">l\u2019i</span>nvestimento <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>CULTI <span class=\"_ _2b\"></span>Milano<span class=\"_ _0\"></span> <span class=\"_ _2b\"></span>SpA<span class=\"_ _0\"></span>, <span class=\"_ _2b\"></span>per Euro <span class=\"_ _2b\"></span>28.904 <span class=\"_ _29\"></span>migliaia, che era precedentemente evidenziato a Livello <span class=\"_ _0\"></span>1).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReclassificationOfFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__143": {
   "value": "6.3.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Valore noziona<span class=\"_ _0\"></span>le degli strumenti finanziari e dei derivati<span class=\"_ _0\"></span> (in migliaia di Euro) Gruppo CULTI Tipologia IRS  IRS  IRS  Finalit\u00e0 Copertura Copertura Copertura Valore nozionale originari<span class=\"_ _29\"></span>o 2.500  800  1.000  Valore nozionale 31/12/2022 2.037  800  1.000  Valore di bilancio 116  49  71  Anno scadenza 2026 2026 2029 (in migliaia di Euro) Gruppo KME SE Tipologia LME Firm Committment Valore nozionale 31/12/2022 426.186  236.036 Data scadenza 2023 2023",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__144": {
   "value": "6.4.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> credito L'esposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2d\"> </span>ai <span class=\"_ _2d\"> </span>rischi <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>deriva <span class=\"_ _2d\"> </span>principalmente <span class=\"_ _2d\"> </span>dalla <span class=\"_ _2d\"> </span>sua <span class=\"_ _2d\"> </span>attivit\u00e0 <span class=\"_ _2c\"> </span>op<span class=\"_ _0\"></span>erativa <span class=\"_ _2d\"> </span>(in particolare <span class=\"_ _2d\"> </span>settore <span class=\"_ _2d\"> </span>Rame). <span class=\"_ _2a\"> </span><span class=\"ff5d\">Il <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2d\"> </span>di <span class=\"_ _2d\"> </span>credito <span class=\"_ _2d\"> </span>rappresenta <span class=\"_ _2d\"> </span>l\u2019e<span class=\"_ _0\"></span>sposizione <span class=\"_ _2d\"> </span>del <span class=\"_ _2d\"> </span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _2d\"> </span>a <span class=\"_ _2d\"> </span>potenziali <span class=\"_ _2d\"> </span>perdit<span class=\"_ _0\"></span>e </span>derivanti <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>mancato <span class=\"_ _0\"></span>adempimento <span class=\"_ _0\"></span>delle <span class=\"_ _0\"></span>obbligaz<span class=\"_ _0\"></span>ioni <span class=\"_ _0\"></span>assunte <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>controparti <span class=\"_ _0\"></span>sia commercial<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>sia <span class=\"_ _0\"></span>finanziarie. Tale <span class=\"_ _0\"></span>rischio <span class=\"_ _0\"></span>discende <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>incipalmente <span class=\"_ _0\"></span>da <span class=\"_ _0\"></span>fatto<span class=\"_ _0\"></span>ri <span class=\"_ _0\"></span>economico<span class=\"_ _0\"></span>-finanziari, <span class=\"_ _22\"></span>ovvero <span class=\"_ _0\"></span>dalla <span class=\"_ _0\"></span>possibilit\u00e0 <span class=\"_ _0\"></span>che <span class=\"_ _22\"></span>si <span class=\"_ _0\"></span>verifichi una situazione di default di una controparte, o<span class=\"_ _0\"></span>vvero da fattori pi\u00f9 strettamente te<span class=\"_ _0\"></span>cnico-commerciali. La <span class=\"_ _0\"></span>massima <span class=\"_ _0\"></span>e<span class=\"_ _0\"></span>sposizione <span class=\"_ _0\"></span>teorica <span class=\"_ _22\"></span>al <span class=\"_ _0\"></span>rischio <span class=\"_ _22\"></span>di <span class=\"_ _0\"></span>credito <span class=\"_ _22\"></span>per <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>Gruppo<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>\u00e8 <span class=\"_ _0\"></span>rappresenta<span class=\"_ _0\"></span>ta <span class=\"_ _0\"></span>dal <span class=\"_ _0\"></span>valo<span class=\"_ _0\"></span>re <span class=\"_ _0\"></span>contabile delle <span class=\"_ _23\"></span>attivit\u00e0 <span class=\"_ _23\"></span>finanziarie <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>dei <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>iscritti <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>bilancio. <span class=\"_ _23\"></span>Si <span class=\"_ _23\"></span>segnala <span class=\"_ _22\"></span>che <span class=\"_ _23\"></span>alcune <span class=\"_ _23\"></span>posizioni <span class=\"_ _23\"></span>creditorie <span class=\"_ _23\"></span>risultano garantite (i.e. per quanto riguarda i <span class=\"_ _0\"></span>crediti commerciali, gran parte del ri<span class=\"_ _0\"></span>schio \u00e8 garantito dal factorin<span class=\"_ _0\"></span>g). La <span class=\"_ _23\"></span>con<span class=\"_ _0\"></span>centrazione <span class=\"_ _23\"></span>del <span class=\"_ _28\"></span>rischio <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _23\"></span>di <span class=\"_ _28\"></span>credito <span class=\"_ _28\"></span>nel <span class=\"_ _23\"></span>caso <span class=\"_ _28\"></span>dei <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>commerciali <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _28\"></span>limitata <span class=\"_ _28\"></span>grazie all'ampia ed eterogenea base di clienti. <span class=\"_ _0\"></span> Gli <span class=\"_ _28\"></span>accantonamenti <span class=\"_ _28\"></span>al <span class=\"_ _28\"></span>fond<span class=\"_ _0\"></span>o <span class=\"_ _28\"></span>svalutazione <span class=\"_ _28\"></span>crediti <span class=\"_ _28\"></span>so<span class=\"_ _0\"></span>no <span class=\"_ _28\"></span>effettuati <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>maniera <span class=\"_ _28\"></span>specifica <span class=\"_ _2c\"></span>sulle <span class=\"_ _28\"></span>posizioni creditorie <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>pr<span class=\"_ _0\"></span>esentano <span class=\"_ _2d\"> </span>elementi <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>rischio <span class=\"_ _2d\"> </span>peculiari. <span class=\"_ _2d\"> </span>Sulle <span class=\"_ _2d\"> </span>posizioni <span class=\"_ _2c\"> </span>credito<span class=\"_ _0\"></span>rie <span class=\"_ _2d\"> </span>che <span class=\"_ _2c\"> </span>no<span class=\"_ _0\"></span>n <span class=\"_ _2d\"> </span>presentano <span class=\"_ _2c\"> </span>tali<span class=\"_ _0\"></span> caratteristiche, <span class=\"_ _22\"></span>sono <span class=\"_ _23\"></span>invece <span class=\"_ _22\"></span>effettuati <span class=\"_ _23\"></span>accantonamenti <span class=\"_ _22\"></span>sulla <span class=\"_ _22\"></span>bas<span class=\"_ _0\"></span><span class=\"ff5d\">e <span class=\"_ _23\"></span>dell\u2019esigibilit\u00e0 <span class=\"_ _22\"></span>media <span class=\"_ _22\"></span>sti<span class=\"_ _0\"></span>mata <span class=\"_ _22\"></span>in <span class=\"_ _23\"></span>funzione <span class=\"_ _22\"></span>di </span>indicatori <span class=\"_ _2d\"> </span>statistici: <span class=\"_ _2d\"> </span>la <span class=\"_ _2d\"> </span>valutazione <span class=\"_ _2d\"> </span>viene <span class=\"_ _2d\"> </span>efffettuata <span class=\"_ _2d\"> </span>tramite <span class=\"_ _2d\"> </span>portafogli <span class=\"_ _2d\"> </span>di <span class=\"_ _2c\"> </span>clienti <span class=\"_ _2d\"> </span>sulla <span class=\"_ _2d\"> </span>base <span class=\"_ _2d\"> </span>dell'esperienza passata, azioni e/o informazioni finanziarie<span class=\"_ _0\"></span>, nonch\u00e9 delle linee di credito<span class=\"_ _0\"></span> e vengono operate svalutazion<span class=\"_ _0\"></span>i. Per <span class=\"_ _0\"></span>quanto <span class=\"_ _22\"></span>concerne <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>risc<span class=\"_ _0\"></span>hio <span class=\"_ _0\"></span>di <span class=\"_ _22\"></span>credito <span class=\"_ _0\"></span>afferente <span class=\"_ _0\"></span>le <span class=\"_ _22\"></span>componenti <span class=\"_ _22\"></span>attive <span class=\"_ _22\"></span>nonch\u00e9 <span class=\"_ _22\"></span>gli <span class=\"_ _0\"></span>strumenti <span class=\"_ _0\"></span>finanziari<span class=\"_ _0\"></span> derivati, <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>rischio <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>solvibilit\u00e0 <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>limitato <span class=\"_ _23\"></span>dal <span class=\"_ _23\"></span>fatto <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>i <span class=\"_ _23\"></span>relativi <span class=\"_ _23\"></span>contratti <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>stipulati <span class=\"_ _23\"></span>esclusivamente <span class=\"_ _23\"></span>con controparti e/o istituti di credito con un <span class=\"_ _0\"></span><span class=\"ff5a\">rating</span> affidabile.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__145-1": {
   "value": "6.5.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> cambio Al <span class=\"_ _28\"></span>31 <span class=\"_ _2c\"></span>dicembre <span class=\"_ _28\"></span>2<span class=\"_ _0\"></span>021 <span class=\"_ _28\"></span>non <span class=\"_ _2c\"></span>erano <span class=\"_ _28\"></span>presenti <span class=\"_ _2c\"></span>attivit\u00e0 <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>passivit\u00e0 <span class=\"_ _2c\"></span>in <span class=\"_ _28\"></span>valuta <span class=\"_ _2c\"></span>estera, <span class=\"_ _2c\"></span>diversamente, <span class=\"_ _28\"></span>a <span class=\"_ _2c\"></span>fronte dell\u2019incremento <span class=\"_ _2d\"> </span>dell\u2019area <span class=\"_ _2c\"> </span>di <span class=\"_ _2d\"> </span>consolidamento, <span class=\"_ _2c\"> </span>nel <span class=\"_ _2d\"> </span>2022 <span class=\"_ _2c\"> </span>il <span class=\"_ _2d\"> </span>Gruppo <span class=\"_ _2c\"> </span>ha <span class=\"_ _2d\"> </span>operato <span class=\"_ _2d\"> </span><span class=\"ff56\">a <span class=\"_ _2c\"> </span>livello <span class=\"_ _2d\"> </span>internazionale <span class=\"_ _2c\"> </span>e <span class=\"_ _2d\"> </span>ha </span>condotto le proprie transazioni in<span class=\"_ _0\"></span> diverse valute.  Nel <span class=\"_ _28\"></span>corso <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>queste <span class=\"_ _28\"></span>operazioni, <span class=\"_ _28\"></span>i <span class=\"_ _28\"></span>ricavi <span class=\"_ _28\"></span>sono <span class=\"_ _28\"></span>generati <span class=\"_ _28\"></span>in <span class=\"_ _28\"></span>valute <span class=\"_ _28\"></span>diverse <span class=\"_ _28\"></span>dalla <span class=\"_ _28\"></span>valuta <span class=\"_ _28\"></span>funzio<span class=\"_ _0\"></span>nale <span class=\"_ _23\"></span>della<span class=\"_ _0\"></span> Capogruppo. <span class=\"_\"> </span>La <span class=\"_\"> </span>politica <span class=\"_\"> </span>del <span class=\"_\"> </span>Gruppo <span class=\"_\"> </span>\u00e8 <span class=\"_\"> </span>quella <span class=\"_\"> </span>di <span class=\"_\"> </span>monitorare <span class=\"_\"> </span>ed <span class=\"_\"> </span>eventualmente <span class=\"_ _8b\"> </span>coprire <span class=\"_\"> </span>i <span class=\"_\"> </span>suddetti <span class=\"_\"> </span>rischi utilizzando strumenti finanziari derivati, quali <span class=\"_ _0\"></span><span class=\"ff5a\">cross currency swap<span class=\"_ _0\"></span></span> e contratti a termine. I rischi valutari sono relativi principalmente al d<span class=\"_ _0\"></span>ollaro: (in migliaia di Euro) USD GBP CHF Esposizione lorda 32.355  3.722  1.065  Forward exchange contracts 35.578  3.958  862  Esposizione netta (3.223) (236) 203  Un <span class=\"_ _22\"></span>rafforzamento <span class=\"_ _22\"></span>(indebolimento) <span class=\"_ _22\"></span>realisticamente <span class=\"_ _0\"></span>po<span class=\"_ _0\"></span>ssibile <span class=\"_ _22\"></span>delle <span class=\"_ _0\"></span>valu<span class=\"_ _0\"></span>te <span class=\"_ _0\"></span>rispetto<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>alle <span class=\"_ _0\"></span>altre <span class=\"_ _22\"></span>valute <span class=\"_ _22\"></span>al <span class=\"_ _22\"></span>31 dicembre <span class=\"_ _2b\"></span>avrebbe <span class=\"_ _29\"></span>influenzato <span class=\"_ _2b\"></span>la <span class=\"_ _29\"></span>valutazione <span class=\"_ _2b\"></span>deg<span class=\"_ _0\"></span>li <span class=\"_ _2b\"></span>strumenti <span class=\"_ _29\"></span>finanziari <span class=\"_ _2b\"></span>in <span class=\"_ _29\"></span>valuta <span class=\"_ _2b\"></span>estera <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>essenzialmente <span class=\"_ _29\"></span>l'utile o la perdita <span class=\"ff5d\">d\u2019esercizio</span><span class=\"lsb\">. </span> Nell'analisi di sensitivit\u00e0 per le valute si \u00e8 ipotizzato che il tasso di cambio dell'<span class=\"_ _0\"></span>Euro rispetto alla valuta estera vari del <span class=\"_ _29\"></span>+/-10 % in <span class=\"_ _29\"></span>ciascun caso. <span class=\"_ _29\"></span>Se l'Euro fosse <span class=\"_ _29\"></span>stato pi\u00f9 forte<span class=\"_ _29\"></span> o pi\u00f9 <span class=\"_ _29\"></span>debole del <span class=\"_ _29\"></span>10% rispetto alla <span class=\"_ _29\"></span>valuta estera ri<span class=\"_ _0\"></span>spetto <span class=\"_ _0\"></span>al <span class=\"_ _0\"></span>tasso <span class=\"_ _0\"></span>dominante <span class=\"_ _0\"></span>alla <span class=\"_ _0\"></span>data <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>bilancio<span class=\"_ _0\"></span>, <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>capitale <span class=\"_ _0\"></span>prop<span class=\"_ _0\"></span>rio <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>risultato <span class=\"_ _0\"></span>annuale <span class=\"_ _0\"></span>sarebbero <span class=\"_ _0\"></span>stati modificati secondo lo schema presentato nella tabella segu<span class=\"_ _0\"></span>ente.  Nell'analisi <span class=\"_ _22\"></span>si <span class=\"_ _23\"></span>ipotizza <span class=\"_ _22\"></span>che <span class=\"_ _22\"></span>tutti <span class=\"_ _22\"></span>gli <span class=\"_ _23\"></span>altri <span class=\"_ _22\"></span>fattori <span class=\"_ _22\"></span>d'influenza, <span class=\"_ _22\"></span>in<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>particolare <span class=\"_ _22\"></span>i <span class=\"_ _23\"></span>tassi <span class=\"_ _22\"></span>d'interesse, <span class=\"_ _22\"></span>rimangano costanti.  Nel cal<span class=\"_ _0\"></span>colo <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>incluse <span class=\"_ _0\"></span>tutte <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>posizioni <span class=\"_ _0\"></span>in <span class=\"_ _0\"></span>valuta <span class=\"_ _0\"></span>estera <span class=\"_ _0\"></span>rilevanti <span class=\"_ _0\"></span>e <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>fatturato <span class=\"_ _0\"></span>previsto<span class=\"_ _0\"></span> per <span class=\"_ _0\"></span>il <span class=\"_ _0\"></span>periodo<span class=\"_ _0\"></span> successivo, tenuto conto del rischio di cambio.<span class=\"_ _0\"></span> (in migliaia di Euro) USD GBP CHF Rafforzamento 10% (322) (24) 20  Indebolimento 10% 322  24  (20)6.6.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> fluttuazione valore azioni<span class=\"_ _0\"></span> Il valore <span class=\"_ _2b\"></span>contabile delle attivit\u00e0 <span class=\"_ _2b\"></span>finanziarie rappresenta l\u2019esposizione <span class=\"_ _2b\"></span>massima <span class=\"ff56\">del Gruppo a<span class=\"_ _29\"></span> tale <span class=\"_ _2b\"></span>rischio. </span>6.7.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> tasso di interesse Al <span class=\"_ _22\"></span>31<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>dicembre <span class=\"_ _22\"></span>2022 <span class=\"_ _23\"></span>le <span class=\"_ _22\"></span>attivit\u00e0 <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>passivi<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _22\"></span>fin<span class=\"_ _0\"></span>anziarie <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>Gruppo <span class=\"_ _23\"></span>fruttifere <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>interessi <span class=\"_ _23\"></span>presentano <span class=\"_ _23\"></span>la seguente esposizione al rischio tasso<span class=\"_ _0\"></span> di interesse: (in milioni di Euro) +100 Basis Point - 50 Basis Point Effetto sul risultato d'esercizi<span class=\"_ _29\"></span>o 2022 3,3  (1,6) Effetto sul Patrimonio Nett<span class=\"_ _29\"></span>o 2022 3,3  (1,6) Alla data di <span class=\"_ _29\"></span>chiusura del presente <span class=\"_ _29\"></span>Bilancio Consolidato, sono in <span class=\"_ _2b\"></span>essere i IRS Swap a copertura del <span class=\"_ _29\"></span>tasso di interesse del finanziamento in capo a<span class=\"_ _0\"></span>: \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5d\">CULTI <span class=\"_ _2b\"></span>Milano <span class=\"_ _2b\"></span>S.p.A. relativamente <span class=\"_ _2b\"></span>al <span class=\"_ _2b\"></span>finanziamento <span class=\"_ _2b\"></span>acceso nell\u2019<span class=\"ff56\">esercizio <span class=\"_ _2b\"></span>2020 <span class=\"_ _2b\"></span>di <span class=\"_ _29\"></span>Euro <span class=\"_ _2b\"></span>2,5 <span class=\"_ _29\"></span>milioni </span></span></span>con l\u2019istituto ICCREA<span class=\"ff56\"> Banca;  </span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Scent Company Srl <span class=\"ls3\">acceso</span> <span class=\"ff5d\">nell\u2019esercizio 20<span class=\"_ _0\"></span>20 di Euro 0,8 milioni con l\u2019istituto Intesa San<span class=\"_ _0\"></span></span>paolo; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">Bakel <span class=\"_ _2b\"></span>Srl <span class=\"_ _2b\"></span><span class=\"ff5d\">relativamente <span class=\"_ _2b\"></span>al <span class=\"_ _3d\"></span>f<span class=\"_ _0\"></span>inanziamento <span class=\"_ _2b\"></span>acceso <span class=\"_ _2b\"></span>nell\u2019esercizio <span class=\"_ _2b\"></span>2022 <span class=\"_ _2b\"></span>di <span class=\"_ _2b\"></span>Euro <span class=\"_ _2b\"></span>0,8 <span class=\"_ _2b\"></span>milioni <span class=\"_ _2b\"></span>con <span class=\"_ _2b\"></span>l\u2019<span class=\"_ _0\"></span><span class=\"ff56\">istituto </span></span></span></span>ICCREA Banca. Al <span class=\"_ _29\"></span>termine <span class=\"_ _29\"></span>dell\u2019esercizio 2021, <span class=\"_ _2b\"></span>un incremento <span class=\"_ _29\"></span>(o <span class=\"_ _29\"></span>decremento) <span class=\"_ _29\"></span>di <span class=\"_ _29\"></span>50 <span class=\"ff5a\">basis <span class=\"_ _2b\"></span>po<span class=\"_ _0\"></span>int<span class=\"ff56\"> dei <span class=\"_ _2b\"></span>tassi di <span class=\"_ _2b\"></span>inte<span class=\"_ _0\"></span>resse <span class=\"_ _29\"></span>alla </span></span>data <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>riferi<span class=\"_ _0\"></span>mento <span class=\"_ _23\"></span>del <span class=\"_ _22\"></span>bilancio<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>avrebbe <span class=\"_ _22\"></span>compo<span class=\"_ _0\"></span>rtato <span class=\"_ _23\"></span>un <span class=\"_ _23\"></span>incremento <span class=\"_ _23\"></span>(decremento) <span class=\"_ _22\"></span>del <span class=\"_ _23\"></span>patrimonio <span class=\"_ _23\"></span>netto <span class=\"_ _23\"></span>e <span class=\"_ _22\"></span>del<span class=\"_ _0\"></span> risultato di circa Euro <span class=\"ls1\">25</span> migliaia.6.8.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> liquidit\u00e0 Il <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>liquidit\u00e0 <span class=\"_ _2c\"></span>pu\u00f2 <span class=\"_ _28\"></span>sorg<span class=\"_ _0\"></span>ere <span class=\"_ _28\"></span>dalle<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>difficol<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _28\"></span>ad <span class=\"_ _2c\"></span>ottenere <span class=\"_ _2c\"></span>finanziamenti <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>sup<span class=\"_ _0\"></span>porto <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 operative nella giusta tempistica. <span class=\"_ _0\"></span> Una sufficiente disponibilit\u00e0 di liquidit\u00e0 per il Grupp<span class=\"_ _0\"></span>o \u00e8 garantita dal flusso di cassa del Gruppo e dalle banche <span class=\"_ _28\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>linee <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cre<span class=\"_ _0\"></span>dito <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>breve <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>lungo <span class=\"_ _2c\"></span>termine. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>fluttuazioni <span class=\"_ _2c\"></span>nell'andamento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>flusso <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>cassa possono quindi essere assorbite<span class=\"_ _0\"></span>; le passivit\u00e0 del Gruppo<span class=\"_ _0\"></span> sono principalmente cos\u00ec distribuite:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">strumenti finanziari derivati: orizzonte temporale entro i 3 <span class=\"_ _0\"></span>mesi; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">passivit\u00e0 finanziarie diverse dagli strumenti finanziari d<span class=\"_ _0\"></span>erivati: orizzonte temporale da 1 a 5 anni<span class=\"_ _0\"></span>. </span></span>Si ricorda che sono in essere i due prestiti o<span class=\"_ _0\"></span>bbligazionari della Capogruppo:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">KME <span class=\"_ _2b\"></span>Group <span class=\"_ _2b\"></span>2020/2025<span class=\"ff56\">, <span class=\"_ _2b\"></span>emesso <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>f<span class=\"_ _0\"></span>ebbraio <span class=\"_ _2b\"></span>2020, <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>circolazione <span class=\"_ _2b\"></span>pe<span class=\"_ _0\"></span>r <span class=\"_ _2b\"></span>nomin<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>Euro 92.819<span class=\"_ _0\"></span> migliaia, </span></span></span>con un tasso fisso del 4,5% (cedola annuale);<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>KME <span class=\"_ _2a\"> </span>Group <span class=\"_ _2a\"> </span>2022/2027<span class=\"ff56\">, <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>a<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>settembre <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2a\"> </span>in <span class=\"_ _2d\"> </span>circolazi<span class=\"_ _0\"></span>one <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>nominali <span class=\"_ _2a\"> </span>Euro <span class=\"_ _2a\"> </span>63.533 </span>migliaia con un tasso fisso del 5,0% (cedola ann<span class=\"_ _0\"></span>uale).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__149": {
   "value": "6.8.<span class=\"ff5f\"> <span class=\"_ _2c\"></span></span>Esposizione al rischio<span class=\"_ _0\"></span> liquidit\u00e0 Il <span class=\"_ _28\"></span>rischio<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>di <span class=\"_ _2c\"></span>liquidit\u00e0 <span class=\"_ _2c\"></span>pu\u00f2 <span class=\"_ _28\"></span>sorg<span class=\"_ _0\"></span>ere <span class=\"_ _28\"></span>dalle<span class=\"_ _0\"></span> <span class=\"_ _28\"></span>difficol<span class=\"_ _0\"></span>t\u00e0 <span class=\"_ _28\"></span>ad <span class=\"_ _2c\"></span>ottenere <span class=\"_ _2c\"></span>finanziamenti <span class=\"_ _2c\"></span>a <span class=\"_ _28\"></span>sup<span class=\"_ _0\"></span>porto <span class=\"_ _2c\"></span>delle <span class=\"_ _28\"></span>attivit\u00e0 operative nella giusta tempistica. <span class=\"_ _0\"></span> Una sufficiente disponibilit\u00e0 di liquidit\u00e0 per il Grupp<span class=\"_ _0\"></span>o \u00e8 garantita dal flusso di cassa del Gruppo e dalle banche <span class=\"_ _28\"></span>con <span class=\"_ _2c\"></span>le <span class=\"_ _28\"></span>linee <span class=\"_ _28\"></span>di <span class=\"_ _28\"></span>cre<span class=\"_ _0\"></span>dito <span class=\"_ _28\"></span>a <span class=\"_ _28\"></span>breve <span class=\"_ _2c\"></span>e <span class=\"_ _28\"></span>lungo <span class=\"_ _2c\"></span>termine. <span class=\"_ _28\"></span>Le <span class=\"_ _28\"></span>fluttuazioni <span class=\"_ _2c\"></span>nell'andamento <span class=\"_ _28\"></span>del <span class=\"_ _28\"></span>flusso <span class=\"_ _2c\"></span>di <span class=\"_ _28\"></span>cassa possono quindi essere assorbite<span class=\"_ _0\"></span>; le passivit\u00e0 del Gruppo<span class=\"_ _0\"></span> sono principalmente cos\u00ec distribuite:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">strumenti finanziari derivati: orizzonte temporale entro i 3 <span class=\"_ _0\"></span>mesi; </span></span>\u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff56\">passivit\u00e0 finanziarie diverse dagli strumenti finanziari d<span class=\"_ _0\"></span>erivati: orizzonte temporale da 1 a 5 anni<span class=\"_ _0\"></span>. </span></span>Si ricorda che sono in essere i due prestiti o<span class=\"_ _0\"></span>bbligazionari della Capogruppo:<span class=\"_ _0\"></span> \u25aa<span class=\"ff58\"> <span class=\"_ _30\"> </span><span class=\"ff5a\">KME <span class=\"_ _2b\"></span>Group <span class=\"_ _2b\"></span>2020/2025<span class=\"ff56\">, <span class=\"_ _2b\"></span>emesso <span class=\"_ _2b\"></span>a <span class=\"_ _2b\"></span>f<span class=\"_ _0\"></span>ebbraio <span class=\"_ _2b\"></span>2020, <span class=\"_ _2b\"></span>in <span class=\"_ _2b\"></span>circolazione <span class=\"_ _2b\"></span>pe<span class=\"_ _0\"></span>r <span class=\"_ _2b\"></span>nomin<span class=\"_ _0\"></span>ali <span class=\"_ _2b\"></span>Euro 92.819<span class=\"_ _0\"></span> migliaia, </span></span></span>con un tasso fisso del 4,5% (cedola annuale);<span class=\"_ _0\"></span> \u25aa <span class=\"_ _30\"> </span>KME <span class=\"_ _2a\"> </span>Group <span class=\"_ _2a\"> </span>2022/2027<span class=\"ff56\">, <span class=\"_ _2a\"> </span>emesso <span class=\"_ _2d\"> </span>a<span class=\"_ _0\"></span> <span class=\"_ _2a\"> </span>settembre <span class=\"_ _2a\"> </span>2022, <span class=\"_ _2a\"> </span>in <span class=\"_ _2d\"> </span>circolazi<span class=\"_ _0\"></span>one <span class=\"_ _2a\"> </span>per <span class=\"_ _2a\"> </span>nominali <span class=\"_ _2a\"> </span>Euro <span class=\"_ _2a\"> </span>63.533 </span>migliaia con un tasso fisso del 5,0% (cedola ann<span class=\"_ _0\"></span>uale).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__150": {
   "value": "7.<span class=\"ff5f ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5c\">Pubblicit\u00e0<span class=\"_ _0\"></span> dei corrispettivi dei servizi forniti dalla Societ\u00e0 di revisi<span class=\"_ _0\"></span>one <span class=\"_ _0\"></span> </span></span>Ai <span class=\"_ _22\"></span>sensi <span class=\"_ _23\"></span>dell\u2019art. <span class=\"_ _23\"></span>149<span class=\"ff56\">-</span>duodecies <span class=\"_ _23\"></span>\u201cRegolamento <span class=\"_ _22\"></span>Emitt<span class=\"_ _0\"></span>enti\u201d, <span class=\"_ _23\"></span>di <span class=\"_ _22\"></span>seguito <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _22\"></span>rip<span class=\"_ _0\"></span>ortata <span class=\"_ _22\"></span>la <span class=\"_ _23\"></span>tabella <span class=\"_ _23\"></span>riassuntiva<span class=\"ff56\"> </span>con l\u2019indicazione <span class=\"_ _0\"></span>dei corrisp<span class=\"_ _0\"></span>ettivi, di <span class=\"_ _0\"></span>competenza dell\u2019esercizio <span class=\"_ _22\"></span>al netto<span class=\"_ _0\"></span> delle <span class=\"_ _0\"></span>spese, dell\u2019IVA<span class=\"_ _0\"></span> e <span class=\"_ _0\"></span>dei contributi di <span class=\"_ _29\"></span>vigilanza, <span class=\"_ _2b\"></span>a fronte <span class=\"_ _2b\"></span>dei servizi <span class=\"_ _2b\"></span>forniti alla <span class=\"_ _2b\"></span>Societ\u00e0 <span class=\"_ _29\"></span>ed <span class=\"_ _2b\"></span>alle societ\u00e0 <span class=\"_ _2b\"></span>contro<span class=\"_ _0\"></span>llate <span class=\"_ _29\"></span>dalla <span class=\"_ _2b\"></span>societ\u00e0 di <span class=\"_ _2b\"></span>revisione Deloitte &amp; Touche SpA e da altre societ\u00e0 d<span class=\"_ _0\"></span>el network: (in migliaia di Euro) Totale KME Group SpA Controllate a) servizi di revisione 1.403  212  1.191  b) servizi diversi dalla revisio<span class=\"_ _29\"></span>ne 137  137   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>- servizi di verifica finalizzat<span class=\"_ _29\"></span>i all'emissione di<span class=\"_ _29\"></span> attestazione 130  130   -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> - altri servizi 7 <span class=\"ls0\"> </span>7 <span class=\"ls0\"> </span> -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>c) servizi delle entit\u00e0 appartenenti al<span class=\"_ _29\"></span>la rete della societ\u00e0 di re<span class=\"_ _29\"></span>visione  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span> -<span class=\"lsd\">  </span>  -<span class=\"lsd\">  </span><span class=\"fc5 sc0\"> </span>Corrispettivi alla societ\u00e0 di revisione 1.540  349  1.191",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__151": {
   "value": "8.<span class=\"ff5f ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5c\">Informativa sulle opera<span class=\"_ _0\"></span>zioni con parti correlate<span class=\"_ _0\"></span> </span></span>Le op<span class=\"_ _0\"></span>erazioni <span class=\"_ _0\"></span>con <span class=\"_ _0\"></span>parti <span class=\"_ _0\"></span>correlate, iv<span class=\"_ _0\"></span>i <span class=\"_ _0\"></span>incluse <span class=\"_ _0\"></span>le <span class=\"_ _0\"></span>operazioni <span class=\"_ _0\"></span>infragruppo, <span class=\"_ _0\"></span>non <span class=\"_ _0\"></span>sono <span class=\"_ _0\"></span>qualificabili <span class=\"_ _0\"></span>n\u00e9 <span class=\"_ _0\"></span>come atipiche n\u00e9 come inusuali, rientrando nell\u2019ordinario cor<span class=\"_ _29\"></span>so degli affari delle societ\u00e0 <span class=\"_ _29\"></span>del Gruppo e sono regolate applicando <span class=\"_ _23\"></span>normali <span class=\"_ _23\"></span>condizioni, <span class=\"_ _23\"></span>determinate <span class=\"_ _23\"></span>con <span class=\"_ _23\"></span>parametri <span class=\"_ _23\"></span>standard <span class=\"_ _23\"></span>o <span class=\"_ _23\"></span>a <span class=\"_ _23\"></span>condizioni <span class=\"_ _22\"></span>di<span class=\"_ _0\"></span> <span class=\"_ _23\"></span>mercato. <span class=\"_ _23\"></span>Non <span class=\"_ _23\"></span>vi <span class=\"_ _22\"></span>sono state <span class=\"_ _2b\"></span>nel corso <span class=\"_ _2b\"></span>del 2022 <span class=\"_ _2b\"></span>operazioni <span class=\"_ _29\"></span>qualificabili <span class=\"_ _29\"></span>come <span class=\"_ _2b\"></span>di maggior <span class=\"_ _2b\"></span>rilevanza <span class=\"_ _29\"></span>ai <span class=\"_ _2b\"></span>sensi della <span class=\"_ _2b\"></span>\u201cProcedura in <span class=\"_ _2b\"></span>materia di operazioni con parti correlate\u201d.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "s7_notes__6__152": {
   "value": "9.<span class=\"ff5f ls0\"> <span class=\"_ _97\"> </span><span class=\"ff5c\">Impegni e garan<span class=\"_ _0\"></span>zie </span></span>Al <span class=\"_ _22\"></span>31 <span class=\"_ _22\"></span>dicembre <span class=\"_ _22\"></span>2022<span class=\"_ _0\"></span> <span class=\"_ _22\"></span>\u00e8 <span class=\"_ _23\"></span>in <span class=\"_ _0\"></span>essere <span class=\"_ _22\"></span>un <span class=\"_ _23\"></span>impegno <span class=\"_ _22\"></span>per <span class=\"_ _22\"></span>investimenti <span class=\"_ _22\"></span>in <span class=\"_ _22\"></span>immob<span class=\"_ _0\"></span>ilizzazioni <span class=\"_ _22\"></span>materiali <span class=\"_ _22\"></span>per <span class=\"_ _23\"></span>Euro 5,4 milioni. Al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"></span>dicembre <span class=\"_ _23\"></span>20<span class=\"_ _0\"></span>22, <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>essere <span class=\"_ _23\"></span>un<span class=\"_ _0\"></span>a <span class=\"_ _28\"></span>lettera <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>patronage<span class=\"_ _0\"></span>, <span class=\"_ _23\"></span>sottoscritta <span class=\"_ _23\"></span>da <span class=\"_ _23\"></span>KM<span class=\"_ _0\"></span>E <span class=\"_ _23\"></span>SE <span class=\"_ _28\"></span>a <span class=\"_ _23\"></span>beneficio <span class=\"_ _23\"></span>della societ\u00e0 <span class=\"_ _2a\"> </span>KME <span class=\"_ _2a\"> </span>Metale <span class=\"_ _2a\"> </span>S. <span class=\"_ _2a\"> </span>Z.o.o.; <span class=\"_ _2a\"> </span>allo <span class=\"_ _2a\"> </span>stato, <span class=\"_ _2d\"> </span>in <span class=\"_\"> </span>virt\u00f9 <span class=\"_ _2d\"> </span>dello<span class=\"_ _0\"></span> <span class=\"_\"> </span>sviluppo <span class=\"_ _2a\"> </span>dell'attivit\u00e0 <span class=\"_ _2d\"> </span>e <span class=\"_\"> </span>delle <span class=\"_ _2d\"> </span>ris<span class=\"_ _0\"></span>orse <span class=\"_ _2a\"> </span>finanziarie dell'azienda, \u00e8 improbabile che tale lette<span class=\"_ _0\"></span>ra venga utilizzata. Nel dicembre <span class=\"_ _0\"></span>2015<span class=\"_ _0\"></span> <span class=\"_ _0\"></span>KME <span class=\"_ _0\"></span>Group <span class=\"_ _0\"></span>SpA <span class=\"_ _0\"></span>ha <span class=\"_ _0\"></span>concesso la <span class=\"_ _0\"></span>pr<span class=\"_ _0\"></span>opria disponib<span class=\"_ _0\"></span>ilit\u00e0 al <span class=\"_ _0\"></span>rilascio <span class=\"_ _0\"></span>di <span class=\"_ _0\"></span>una <span class=\"_ _0\"></span>garanzia di<span class=\"_ _0\"></span> massimi <span class=\"_ _2b\"></span>Eu<span class=\"_ _0\"></span>ro <span class=\"_ _29\"></span>5,0 <span class=\"_ _2b\"></span>milion<span class=\"_ _0\"></span>i <span class=\"_ _2b\"></span>a favore <span class=\"_ _2b\"></span>di Associaz<span class=\"_ _29\"></span>ione <span class=\"_ _29\"></span>Dynamo <span class=\"_ _2b\"></span>nell\u2019<span class=\"_ _0\"></span>ambito <span class=\"_ _29\"></span>dell\u2019erogazione <span class=\"_ _2b\"></span>di un <span class=\"_ _2b\"></span>mutuo fondiario per la <span class=\"_ _29\"></span>ristrutturazione di <span class=\"_ _29\"></span>alcuni <span class=\"_ _29\"></span>immobili di <span class=\"_ _29\"></span>Limestre. Il <span class=\"_ _2b\"></span>mutuo \u00e8 peraltro <span class=\"_ _29\"></span>gi\u00e0 assistito da <span class=\"_ _29\"></span>altre <span class=\"_ _29\"></span>garanzie reali; <span class=\"_ _29\"></span>al 31 dicembre 2022 ammonta a Euro <span class=\"_ _0\"></span>1,5 milioni.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "it",
    "entity": "scheme:815600C52EB6EBC14590",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  }
 }
}