Salvatore Ferragamo S p A : 2021ANNUAL REPORT

Annual Report 2021

Salvatore Ferragamo Group

Annual Report as at 31 December 2021

Salvatore Ferragamo S.p.A.

Florence

General information

Registered office Salvatore Ferragamo S.p.A. Via Tornabuoni, 2 - 50123 Florence Legal information Authorized, subscribed and paid-up share capital 16,879,000 Euro

Tax code and Florence Company Register no.: 02175200480

Registered with the Florence Chamber of Commerce under REA (Economic and Administrative Register) no. 464724

Corporate websitehttps://group.ferragamo.com/en/

Salvatore Ferragamo Group Board of Directors' report

Contents

Letter from the Chair 4

Board of Directors' report on operations as at 31 December 2021 6

Corporate boards 10

Group structure 12

Composition of the Salvatore Ferragamo Group 13

Main Stock Market indicators - Salvatore Ferragamo S.p.A. 14

1.	The Group's main income and financial results for the year 2021	16
2.	Introduction	18
3.	The Salvatore Ferragamo Group's activities	19
4.	The Group's operating performance	28
5.	Operating performance of the Parent company Salvatore Ferragamo S.p.A.	50
6.	Reconciliation between the Parent company's net profit/(loss) for the
period and shareholders' equity and the consolidated values of the Group	59
7.	Results of Group companies	60
8.	Significant events occurred during the year	61
9.	Information on corporate governance and ownership structure	73
10.	Other information	81
11.	Research and development	84
12.	Transactions with related parties	84
13.	Main risks and uncertainties	85
14.	Significant events occurred after 31 December 2021	92
15.	Macroeconomic situation and outlook	92
16.	Separate Financial Statements as at 31 December 2021 of
Salvatore Ferragamo S.p.A. - Proposal for approval	93
17.	Consolidated Non-Financial Statement pursuant
to Italian Legislative Decree 254/2016	95

2| Annual Report as at 31 December 2021 • Salvatore Ferragamo

Separate Financial Statements
Consolidated Financial Statements as at 31 December 2021	232
Financial Statements	236
Consolidated Statement of Financial Position - Assets	236
Consolidated Statement of Financial Position - Liabilities and Shareholders' Equity	237
Consolidated Income Statement	238
Consolidated Statement of Comprehensive Income	239
Consolidated Statement of Cash Flows	240
Statement of changes in consolidated shareholders' equity	241
Explanatory Notes to the Consolidated Financial Statements	242
Comments on the main statement of financial position items
(assets, shareholders' equity and liabilities)	291
Comments on the main income statement items	319
Other information	329
Disclosure pursuant to art. 149-duodecies of the Issuers' Regulation	341
Statement pursuant to article 154 bis of Leg. Decree no. 58
of 24 February 1998 (Consolidated Law on Finance)	342
Independent Auditor's Report	344
Separate Financial Statements as at 31 December 2021	352
Financial statements	356
Statement of financial position - assets	356
Statement of financial position - liabilities and shareholders' equity	357
Income statement	358
Statement of comprehensive income	359
Statement of cash flows	360
Statement of changes in shareholders' equity	361
Explanatory notes to the separate financial statements	362
Comments on the main statement of financial position items
(assets, shareholders' equity and liabilities)	404
Comments on the main income statement items	431
Other information	443
Disclosure pursuant to art, 149-duodecies of the Issuers' Regulation	455
Statement pursuant to article 154 bis of Leg, Decree no, 58
of 24 February 1998 (Consolidated Law on Finance)	456
Report of the Board of Statutory Auditors	458
Independent Auditor's Report	472

Consolidated Non-Financial Statement

Board of Directors' report

Consolidated Financial Statements

This document has been translated into English solely for the convenience of international readers.

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