Ariston N : FY2021 Annual Report

ARISTON GROUP N.V.

2021 ANNUAL REPORT

Index | Table of contents

1. About this report
2. Key Highlights
3. Corporate bodies
4. Directors' Report for the year ending 31 December 2021
5. 1. Reference Background and Investor information
   2. Significant business event of the year
   3. Subsequent events
   4. Brand|Product performance
   5. New Products, Services, Research and Development
   6. Manufacturing & Supply Chain operations
   7. Human Resources
   8. Regulation
   9. Group Financial Review
   10. 1. Net Revenue Performance
       2. Reclassified income statement
       3. Reclassified statement of financial position
       4. Net Operating Working Capital
       5. Reclassified statement of Cash flows
       6. Net financial indebtedness
       7. Capital Expenditures
       8. Company and Group net profit and total equity
   11. Full year 2021 conclusion and outlook
   12. Definition and reconciliation of the Alternative Performance Measures (APMs or non GAAP measures) to GAAP measures
   13. Investor information

1. Governance
2. 1. Risk management
   2. Non Financial Disclosure
   3. Corporate Governance
   4. Remuneration Report
3. Ariston Holding N.V. Consolidated Report Financial Statements at 31 December 2021
4. Ariston Holding N.V. Company only Financial Statements at 31 December 2021
5. Other Information

Disclaimer

This is an unaudited PDF copy of the 2021 Annual report of Ariston Holding N.V. and has not been prepared in European single electronic reporting format specified by the European Commission in Regulatory Technical Standard on ESEF (Regulation (EU) 2019/815). The ESEF-compliant 2021 Annual Report of Ariston Holding N.V. ("ESEF Package") will be available on the "Investor Relations" section of Ariston Holding's website www.aristongroup.com and will be filed with the Netherlands Authority for the Financial Markets (AFM) within the terms provided by law. In case of discrepancies between this PDF copy and the ESEF Package, the latter prevails.

The board report "bestuursverslag" consists of the section 2, 3, 4 and 5.

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1. About this report

Note on presentation

The annual report at 31 December 2021 was prepared in in accordance with the International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB), as adopted by the European Union and with Section 2:362 (8) of the Dutch Civil Code ('DCC'), pursuant to Part 9 of Book 2. The IFRS designation also includes the International Accounting Standards ('IAS') as well as all the interpretations of the International Financial Reporting Interpretations Committee ('IFRIC'), formerly the Standard Interpretations Committee ('SIC').

Adaptation plan pursuant to Articles 15 and 18 of the Market Regulations

In accordance with Article 15 of Consob Regulation 20249 of 28 December 2017 and subsequent amendments concerning 'conditions for listing shares of companies that control companies established and governed by laws of non-EU countries', the Parent Company Ariston Holding N.V. (the 'Company' or 'Parent Company' or 'Ariston' and together with its subsidiaries the 'Ariston Group' or the 'Group') has identified its significant subsidiaries as defined in Article 15(2) of the above- mentioned Regulation, and verified that the conditions set out in paragraphs a), b) and c) of Article 15 have been met.

Information on the figures presented

All the figures in this annual report are expressed in millions of euro to one decimal place, whereas the original data is recorded and consolidated by the Group in euro. Similarly, all percentages relating to changes between two periods or to percentages of net revenue or other indicators are always calculated using the original data in euro. The use of amounts expressed in millions of euro may therefore result in apparent discrepancies in both absolute amounts and data expressed as a percentage.

The language of this annual report is English. Certain legislative references and technical terms have been cited in their original language in order to give them their correct technical meaning under applicable law.

European Single Electronic Format requirements

Pursuant to article 4 of the Transparency Directive, starting from 2021 reporting period, the financial statements schema, in the annual financial report is prepared in XHTML format, in compliance with the European Single Electronic Format (ESEF) as a company listed on a European Union regulated markets. In addition, issuers preparing IFRS consolidated financial statements shall mark those up using Inline XBRL. Ariston Group manages ESEF by leveraging on a dedicated outsourced IT software that allows the compliance with the new regulation.

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2. Key Highlights

(mln €)

Net revenue

EBITDA adjusted

EBITDA

EBIT adjusted

EBIT

PBT

Net profit adjusted

Net profit

Profitability ratios

Net capital employed (mln Eur)

ROE

(Net profit / Net eq- uity)

ROI adjusted

(EBIT adjusted / Net capital employed)

ROI

(EBIT / Net capital em- ployed)

ROS adjusted

(EBIT adjusted / Net revenue)

ROS

(EBIT / Net revenue)

Earnings per shares - Basic (€)

Earnings per shares - Diluted (€)

Headcount

Free cash flow

Net financial indebtedness adjusted (*)

Net equity

2021			2020			total change		organic change
1,987.3		100.0%		1,664.0		100.0%		323.4	19.4%		19.8%
276.8		13.9%		239.1		14.4%		37.7	15.8%		-
246.9		12.4%		226.8		13.6%		20.2	8.9%		11.4%
203.4		10.2%		163.8		9.8%		39.6	24.2%		-
171.2		8.6%		149.1		9.0%		22.1	14.8%		18.6%
165.4		8.3%		131.9		7.9%		33.5	25.4%		-
151.8		7.6%		107.5		6.5%		44.3	41.2%		-
136.3		6.9%		96.7		5.8%		39.6	41.0%		-
	2021			2020
693.3			590.2
15.5%			21.7%
29.3%			27.8%
24.7%			25.3%
10.2%			9.8%
8.6%			9.0%
0.47			0.33
0.46			0.33
7,743			7,415
88.3			191.3
-184.8			143.6
878.1			446.5

* Negative figures represent net cash.

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3.	Corporate bodies
Board of Directors
Paolo Merloni	Executive Chairman
Laurent Alexis Michel Henri Jacquemin	CEO

Sabrina Baggioni

Roberto Guidetti

Francesco Merloni

Maria Francesca Merloni

Lorenzo Pozza

Ignazio Maria Rocco di Torrepadula

Paolo Tanoni

Andrea Silvestri

Marinella Soldi

Enrico Vita

External auditor

Ernst&Young Accountants LLP

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