Zegna Investor Presentation Deck
IFRS RECONCILIATIONS (3/6)
€m
Core Adj. EBITDA
Disposition reversal
Adj. EBITDA
Depreciation and amortization
Adjustments / Reconciling Items¹
Operating profit (IFRS)
Financial income
Financial expenses
Exchange losses/(gains)
Income/(loss) from joint ventures and investments
Impairment of equity investments
Income taxes
Profit/ (loss) for the year (IFRS)
Ermenegildo Zegna Group
Core Adj. EBITDA reconciliation (€m)
2018A
262
(2)
260
(154)
(10)
95
23
(45)
1
(1)
(3)
(29)
41
2019A
282
(7)
275
(168)
(19)
89
22
(37)
(2)
(2)
0
(44)
25
2020A
193
(7)
186
(166)
(43)
(23)
34
(48)
13
(4)
(5)
(15)
(47)
Source: Company information
Notes: See Glossary for relevant definitions
1. Including donations granted during the COVID-19 pandemic, legal expenses related to lease agreements, impairment losses on property plant and equipment and right-of-
use assets, severance indemnities and provision for severance expenses, impairment losses on held for sale assets and gains on disposal of property plant and equipment
CONFIDENTIAL
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