GVS S p A : Interim report on operations at 31 March 2022

Interim report on operations at 31

March 2022

GVS Group

1

CONTENTS
INFORMATION ABOUT THE COMPANY AND INFORMATION FOR SHAREHOLDERS3
GROUP STRUCTURE* .................................................................................................................	4
CORPORATE BODIES..................................................................................................................	5
DIRECTORS' REPORT ON OPERATIONS ................................................................................	6
Foreword .........................................................................................................................................	6
Group performance and analysis of the results for the period ending on 31 March 2022. ...........	6
Investments. ...................................................................................................................................	12
Research and development............................................................................................................	13
Additional information..................................................................................................................	13
Principal risks and uncertainties ..................................................................................................	13
Inter-groupand related party transactions ..................................................................................	14
Significant events occurring during the period. ...........................................................................	14
Events subsequent to the close of the period.................................................................................	15
Business outlook ............................................................................................................................	15
FINANCIAL STATEMENTS AT 31 March 2022 .......................................................................	16
EXPLANATORY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AT 31
MARCH 2022 ................................................................................................................................	21
1.	General information ..............................................................................................................	21
2.	Structure and content of the consolidated financial statements ...........................................	21
3.	Valuation criteria...................................................................................................................	24
4.	Estimates and assumptions....................................................................................................	25
5.	Business combinations ...........................................................................................................	25
6.	Explanatory Notes to the main consolidated income statement items..................................	26
7.	Non-recurringrevenues and operating costs ........................................................................	30
8.	Additional information ..........................................................................................................	31
ATTACHED TABLES..................................................................................................................	32
DECLARATION OF THE MANAGER RESPONSIBLE FOR THE PREPARATION OF THE
COMPANY'S ACCOUNTING DOCUMENTS PURSUANT TO ARTICLE 154-BIS
PARAGRAPH 2 OF LEGISLATIVE DECREE 58/98 ................................................................	36

2

INFORMATION ABOUT THE COMPANY AND INFORMATION FOR SHAREHOLDERS

REGISTERED OFFICE

GVS S.p.A.

Via Roma 50

40069 Zola Predosa

BOLOGNA, ITALY

Phone [phone]

Fax + 39 051 6176200

www.gvs.com

LEGAL INFORMATION

Share capital: Euro 1,750,000

Tax code 03636630372

VAT number 00644831208

REA of Bologna 0305386

Register of Companies of Bologna 45539

INVESTOR RELATIONS

[e-mail]

3

GROUP STRUCTURE*

*For information on the company name, registered office, the currency in which the Company operates, share capital of the GVS Group companies and the stake held by GVS SpA, please see the Explanatory Notes.

4

CORPORATE BODIES

Board of Directors
Chair	Grazia Valentini (2)
Chief Executive Officer	Massimo Scagliarini
Executive Directors	Marco Scagliarini
	Mario Saccone
	Matteo Viola
Independent Directors	Nadia Buttignol (1)
	Arabella Caporello (1)
	Alessandro Nasi (2)
	Michela Schizzi (1) (2)
Board of Auditors
Chair	Patrizia Lucia Maria Riva
Standing auditors	Francesca Sandrolini
	Stefania Grazia
Substitute auditors	Daniela Baesi
	Mario Difino
Manager responsible for the preparation
of the company's accounting documents	Emanuele Stanco
Independent auditors	PricewaterhouseCoopers SpA

1. Member of the Control, Risk and Sustainability Committee
2. Member of the Nominations and Remuneration Committee

5