TXT e S p A : Half-yearly financial report as of 30 June 2022

TXT E-SOLUTIONS GROUP

HALF-YEARLY

FINANCIAL REPORT

As at 30 June 2022

TXT e-solutions S.p.A.

Registered office, management, and administration:

Via Milano, No. 150 - 20093 Cologno Monzese (MI)

Share capital:

€ 6,503,125 fully paid-in

Tax code and Milan Business Register No.:

09768170152

ENRICO MAGNI

MATTEO MAGNI

Chief Executive Officer

1. Member of the Remuneration and Appointments Committee.
2. Member of the Risks and Internal Controls Committee.
3. Member of Related Parties Committee.
4. Appointed by the Shareholders' Meeting on 13 September 2021.

MARIO BASILICO		FRANCO VERGANI
MASSIMILIANO	FABIO MARIA	GIADA D'ONOFRIO

Independent Auditors:

Crowe Bompani S.p.A.

Investors relations:

E-mail: [e-mail]

Tel: [phone]

Half-yearly financial report as at 30 June 2022	2

Leadership Team

in different sectors, Enrico

+20 years in TXT, with a strong experience in the international development of the business, from mid-2020 holds the position of Group CEO, with strategic responsibilities in defining and executing the TXT Group's international growth strategies.

the sustainable growth

of the TXT Group.

Half-yearly financial report as at 30 June 2022	3

Contents
TXTe-solutionsS.p.A....................................................................................................................................	2
Leadership Team.........................................................................................................................................	3
Organisational structure and scope of consolidation....................................................................	6
TXT e-solutionsGroup - Key data..........................................................................................................	8
Directors' Report on operations for H1 2022 ......................................................................................	10
Consolidated Balance Sheet.................................................................................................................	27
Consolidated Income Statement.........................................................................................................	28
Consolidated Statement of Comprehensive Income...................................................................	28
Segment disclosures................................................................................................................................	29
Consolidated Statement of Cash Flows ............................................................................................	30
Statement of Changes in Consolidated Shareholders' Equity as at 30 June 2022..............	31
1.	Group's structure and scope of consolidation ........................................................................	32
2.	Reversal ................................................................................................................................................	33
3. Basis of preparation of the consolidated financial statements ........................................	33
4. Accounting standards and interpretations applied from 1 January 2022......................	34
5.	Financial risk management ...........................................................................................................	35
6.	Use of estimates ................................................................................................................................	35
7.	Balance sheet.....................................................................................................................................	38
7.1.	Goodwill............................................................................................................................................	38
7.2. Intangible assets with a finite useful life ................................................................................	40
7.3.	Tangible assets ..............................................................................................................................	42
7.4.	Investments in associates..........................................................................................................	42
7.5. Sundry receivables and other non-currentassets............................................................	42
7.6.	Deferred tax assets / liabilities ..................................................................................................	43
7.7.	Contractual assets........................................................................................................................	43
7.8.	Trade receivables..........................................................................................................................	43
7.9. Sundry receivables and other current assets......................................................................	44
7.10. Financial instruments at fair value ..........................................................................................	45
Half-yearly financial report as at 30 June 2022
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7.11.	Cash and cash equivalents.......................................................................................................	45
7.12.	Shareholders' equity.....................................................................................................................	45
7.13.	Non-currentfinancial liabilities.................................................................................................	47
7.14.	Provision for post-employment benefits and other employee provisions.................	52
7.15.	Provisions for future risks and charges...................................................................................	54
7.16.	Current financial liabilities ..........................................................................................................	54
7.17.	Trade payables..............................................................................................................................	56
7.18.	Tax payables...................................................................................................................................	56
7.19.	Sundry payables and other current liabilities......................................................................	56
8.	Income Statement............................................................................................................................	56
8.1.	Total revenues and other income............................................................................................	56
8.2.	Purchases of materials and external services.....................................................................	57
8.3.	Personnel costs ..............................................................................................................................	57
8.4.	Other operating costs..................................................................................................................	58
8.5.	Depreciation, amortisation and impairment .......................................................................	58
8.6.	Financial income and charges.................................................................................................	58
8.7.	Share of profit (loss) of associates..........................................................................................	58
8.8.	Income taxes...................................................................................................................................	59
9. Seasonality of operating segments............................................................................................	59
10.	Transactions with related parties.............................................................................................	59
11.	Net financial debt..............................................................................................................................	60
12.	Other significant events in the year and subsequent events.........................................	61
13.	Certification of the condensed consolidated half-yearly financial statements......	62

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