Zegna SPAC Presentation Deck
IFRS RECONCILIATIONS (6/6)
€m
Net cash provided by operating activities
Cash-out of financial interest add-back
Cash-out of income taxes add-back
Net cash provided by operating activities, excluding cash out for income taxes and
cash out for financial interest (IFRS)
Disposition impact
Core net cash provided by operating activities, excluding cash out for income
taxes and cash out for financial interest
(Addition) / Disposal of property, plant and equipment
(Addition) / Disposal of intangible assets with a finite useful life
Operating capex
Disposition impact
Core operating capex
Payment of lease liabilities (IFRS)
Disposition impact
Core payment of lease liabilities
Key cash flow items reconciliation (€m)
Adjusted Operating Cash Flow¹
Disposition impact
Core Adjusted Operating Cash Flow
Ermenegildo Zegna Group
2018A
203
4
28
236
10
245
(11)
(19)
(30)
(27)
(57)
(124)
(2)
(126)
81
(19)
62
2019A
205
5
23
233
7
240
(47)
(12)
(59)
2
(57)
(122)
(7)
(129)
51
3
54
2020A
70
4
31
105
7
113
(27)
(12)
(39)
6
(33)
(100)
(7)
(107)
(34)
6
(28)
Source: Company information.
Notes: See Glossary for relevant definitions
1. Adjusted Operating Cash Flow includes net cash provided by operating activities, excluding cash out of income taxes and cash out of financial interest,
(addition)/disposal of property plant and equipment and (addition)/disposal of intangible assets with a finite useful life and payment of lease liabilities
CONFIDENTIAL
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