Pattern S p A : 2022 - Consolidated half-year report as at 30.06.2022

PATTERN SPA

PATTERN S.P.A.

Direction and coordination BO.MA. Holding S.r.l.

CONSOLIDATED HALF-YEAR REPORT

AT 30 JUNE 2022

registered office in Collegno, via Italia 6/a

authorized share capital € 1,436,292.90 of which € 1,407,555.00 subscribed and paid up

listed with the Turin Company Register no. 10072750010 tax code

R.E.A. no. 1103664

Half-Year Report at 30 June 2022

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PATTERN SPA
CONTENTS
COMPANY OVERVIEW..................................................................................................................................................	4
COMPOSITION OF CORPORATE BODIES ......................................................................................................................	5
SHAREHOLDER BASE ....................................................................................................................................................	6
PATTERN GROUP AND ITS HISTORY ............................................................................................................................	7
PATTERN GROUP IN FIGURES: HIGHLIGHTS FIRST HALF 2022 .................................................................................	8
CORPORATE STRUCTURE OF THE GROUP ................................................................................................................	9
PATTERN SHARE PERFORMANCE IN FIRST HALF 2022 ...........................................................................................	10
INTERIM REPORT ON OPERATIONS AT 30 JUNE 2022 ..............................................................................................	11
MARKET SCENARIO AND RESULTS..........................................................................................................................	12
OUTLOOK FOR THE CURRENT YEAR .......................................................................................................................	13
MEDIUM-TERM STRATEGY .....................................................................................................................................	13
SIGNIFICANT EVENTS IN THE PERIOD .....................................................................................................................	14
GROUP CAPITAL EXPENDITURE ..............................................................................................................................	17
GROUP OPERATING AND FINANCIAL SITUATION...................................................................................................	17
MAIN RISKS AND UNCERTAINTIES TO WHICH THE GROUP IS EXPOSED ................................................................	25
ENVIRONMENTAL IMPACT OF OPERATIONS..........................................................................................................	27
EMPLOYEES AND IT SYSTEMS .................................................................................................................................	28
FINANCIAL DERIVATIVES.........................................................................................................................................	30
BRANCH OFFICES ....................................................................................................................................................	30
INTRAGROUP AND RELATED PARTY TRANSACTIONS .....................................................................................	30
CONSOLIDATED INTERIM FINANCIAL STATEMENTS AT 30 JUNE 2022.....................................................................	32
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
CONSOLIDATED INCOME STATEMENT .......................................................................................................................	36
CONSOLIDATED STATEMENT OF CASH FLOWS...........................................................................................................	38
INFORMATION ON THE ACQUISITION OF INVESTMENTS IN SUBSIDIARIES ...............................................................	40
NOTES TO THE CONSOLIDATED HALF-YEARREPORT AT 30 JUNE 2022 ...................................................................	41
FOREWORD.................................................................................................................................................................	41
SCOPE OF CONSOLIDATION ........................................................................................................................................	41
1. CONSOLIDATION PRINCIPLES..................................................................................................................................	44
2. PREPARATION STANDARDS ....................................................................................................................................	45
3. VALUATION CRITERIA .............................................................................................................................................	46
4. ANALYSIS OF AND COMMENTS ON THE MAIN ITEMS OF THE CONSOLIDATED FINANCIAL STATEMENTS ............	56
STATEMENT OF FINANCIAL POSITION ASSETS .......................................................................................................	56
INFORMATION ON THE INCOME STATEMENT .......................................................................................................	77

Half-Year Report at 30 June 2022

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PATTERN SPA
5. OTHER INFORMATION ............................................................................................................................................	81
HEADCOUNT ...............................................................................................................................................................	81
FEES TO DIRECTORS AND STATUTORY AUDITORS ......................................................................................................	81
FEES TO THE INDEPENDENT AUDITORS......................................................................................................................	81
GUARANTEES, COMMITMENTS AND CONTINGENT LIABILITIES.................................................................................	82
TRANSACTIONS WITH RELATED PARTIES....................................................................................................................	82
AGREEMENTS NOT RESULTING FROM THE STATEMENT OF FINANCIAL POSITION ...................................................	83
SIGNIFICANT EVENTS AFTER THE REPORTING PERIOD OF THE CONSOLIDATED FINANCIAL STATEMENTS ...............	83
OUTLOOK FOR THE YEAR ............................................................................................................................................	83
INFORMATION ON FINANCIAL DERIVATIVES PURSUANT TO ARTICLE 2427-BIS OF THE ITALIAN CIVIL CODE ...........	84
ANNEXES TO THE CONSOLIDATED FINANCIAL STATEMENTS .....................................................................................	85
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (ANNEX A) ........................................................................	85
RECONCILIATION BETWEEN PARENT COMPANY EQUITY AND RESULTS AND CONSOLIDATED EQUITY AND
RESULTS (ANNEX B) ................................................................................................................................................	86
CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND INCOME STATEMENT SHOWING THE CHANGES IN
THE YEAR (ANNEX C)...............................................................................................................................................	87
ANALYTICAL CONSOLIDATED STATEMENT OF FINANCIAL POSITION (ANNEX D)...................................................	90
INDEPENDENT AUDITORS' REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS

Half-Year Report at 30 June 2022

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PATTERN SPA

COMPANY OVERVIEW

Registered office

PATTERN S.P.A.

registered office in via Italia 6/a 10093 - Collegno (TO) - Italy Tel. [phone]

Legal data

Joint stock company listed on Euronext Growth Milan

Authorized share capital € 1,436,292.90, of which € 1,426,292.90 subscribed and paid up, tax code, VAT no. and registration number with the Turin Company Register: 10072750010

R.E.A. of Turin no. 1103664

Direction and coordination:

BO.MA. Holding S.r.l.

Registered office in Via Ottavio Assarotti 10 10122 - Turin (TO) - Italy

Tax Code and VAT number: 12067380019

Half-Year Report at 30 June 2022

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		PATTERN SPA
COMPOSITION OF CORPORATE BODIES
Board of Directors(1)	Francesco Martorella	Chairman
	Fulvio Botto	Vice Chairman
	Luca Sburlati	Chief Executive Officer
	Stefano Casini
	Claudio Delunas
	Innocenzo Tamborrini
	Emilio Paolucci

Board of Statutory Auditors(1)	Davide Di Russo	Chairman
	Lucia Margherita Calista Rota Standing Auditor
	Lucia Maria Starola	Standing Auditor
	Valerio Brescia	Alternate Auditor
	Riccardo Cantino	Alternate Auditor

Independent Auditors(2)

PricewaterhouseCoopers S.p.A., in short PWC

DURATION

1. The Board of Directors and the Board of Statutory Auditors were appointed by a resolution of the Shareholders' Meeting held on 28 April 2022 for three financial years, and will therefore expire with the Shareholders' Meeting called to approve the financial statements for the year ending 31 December 2024.
2. The Independent Auditors' statutory audit assignment was granted by a resolution of the Shareholders' Meeting of 30 April 2021 for three financial years, and will therefore expire with the Shareholders' Meeting called to approve the financial statements for the year ending 31 December 2023.

Half-Year Report at 30 June 2022

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