Zegna SPAC Presentation Deck
ZEGNA GROUP
CORE NET FINANCIAL INDEBTEDNESS¹
Core IFRS16 lease liabilities
10
2018A
556
Ermenegildo Zegna Group
18
2019A
546
includes impact of one-off cash outflows such as: €43m purchase price
and related charges for the acquisition of 50% of the New Bond Street
(London) building, €6m cash contribution to Agnona and €32m related
to the acquisition of a 5% stake in Thom Browne - totalling €81m
32
2020A
443
84
73
2021E
including €11m impact from
acquisitions announced in 2021²
• total impact of one-off cash
outflows of €92m
Sources: Company information and estimates
Notes: See Glossary for relevant definitions.
1. Computed as (+) debt items (-) cash items; see Glossary for additional details
2. Ubertino's 60% stake acquisition and Biagioli's 40% stake acquisition, announced in June 2021
CONFIDENTIAL
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