Zegna Investor Presentation Deck
IFRS RECONCILIATIONS (4/6)
€m
Core Net Financial Indebtedness¹
Disposition reversal
Net Financial Indebtedness
Core IFRS16 lease liabilities
Disposition reversal
IFRS16 lease liabilities (IFRS)
Core Trade Working Capital (TWC)
Disposition reversal
Trade Working Capital (TWC)
Inventories
Trade receivables
Trade liabilities and customer advances
Ermenegildo Zegna Group
Key balance sheet items reconciliation (€m)
2018A
10
(26)
(16)
556
(8)
548
247
0
247
314
162
(229)
2019A
18
(28)
(10)
546
(38)
508
260
7
267
315
178
(226)
2020A
32
(25)
7
443
(35)
408
277
(5)
272
321
139
(188)
Source: Company information
Notes: See Glossary for relevant definitions
1. Computed as (+) debt items (-) cash items; see Glossary for additional details
CONFIDENTIAL
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