Slide 1: Investor Presentation Star Conference
[ECNL:IM] Investor Presentation Star Conference Milan, 23/24th March 2022
Slide 2: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 50 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 56 5. ANNEXES 59 2
Slide 3: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 3
Slide 4: Aquafil at glance
Aquafil at glance A GLOBAL GROUP MARKET LEADER IN NYLON A SUCCESSFUL BUSINESS MODEL 19 plants in 3 continents and 8 Fiber for carpet (BCF) Proprietary technology with countries; continuous R&D innovation FY 2020 - ca 2.800 employees, Fiber for fabrics (NTF) Manufacturing and operational € 570m of re
Slide 5: Aquafil at glance – A global Group
Aquafil at glance – A global Group USA EUROPE ASIA PACIFIC Cartersville – Georgia ITALY CHINA Aquafil USA 1 & 2 Arco, Cares and Rovereto Jiaxing Aquafil Headquarter Aquafil Jiaxing Phoenix - Arizona Tessilquattro Aquafil Carpet Recycling ACR#1 JAPAN Aquafil Carpet Collection CROATIA Tokyo Oroslavje
Slide 6: Aquafil at glance – Market Leader in Nylon
Aquafil at glance – Market Leader in Nylon with: KEY APPLICATIONS % on FY2021 REVENUES Fiber for carpet flooring 61% BCF Product Fiber for fabric 23% NTF Product Industrial Molding Polymers EP Product 17% 6
Slide 7: Aquafil at glance – A successful Business model
Aquafil at glance – A successful Business model Raw Final Production Distribution Clients Material application BCF Flooring Solutions Selected Manufacturers Application Users Production and finishing of premium synthetic yarns, Contract principally Nylon 6, for Direct sale / Standard Caprolactam flo
Slide 8: Aquafil at glance – Key milestones
Aquafil at glance – 50 years of growth – Key milestones 1965 1988 1995 1999 2007 2010 Aquafil foundation Establishment of Acquisition of Establishment of Establishment of Establishment of Aquafil Engineering AquafilSLO Aquafil USA Aquafil Asia Pacific Aquafil China in Germany in Thailand 2011 2017 2
Slide 9: Fortune's 2019 Change the World List: Companies to Watch
Aquafil at glance – A Company to change the world MAGAZINE CHANGE THE WORLD Fortune’s 2019 Change the World List: Companies to Watch By Matthew Heimer and Erika Fry 19 August 2019 “Burberry and Prada both recently launched collections featuring ECONYL®, a recycled nylon that this Italian yarn manufa
Slide 10: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 10
Slide 11: Sustainability path – Driven by vision and business model
Sustainability path – Driven by vision and business model • Journey to circularity started with a deep business model review to prepare Group to next decades evolution based on cultural sensitiveness to environmental topics and Group R&D and technological strengths • Aquafil correctly identified fut
Slide 12: Sustainability path – Driven by vision and business model
Sustainability path – Driven by vision and business model 12
Slide 13: Sustainability path – A journey started in 1990
Sustainability path – A journey started in 1990 1990 1998 2007 2008 2011 2013 «Lactamic waters» Waste recovery The Eco Pledge® «Energy & ECONYL® «The Healthy Seas – A recovery from for techno polymers foundation Recycling» team: Regeneration System: journey from Waste to polymerization production de
Slide 14: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 14
Slide 15: The ECO PLEDGE®
The ECO PLEDGE® RETHINKING PRODUCTS IN A CIRCULAR PERSPECTIVE SUPPORT LOCAL Innovating products to make them more COMMUNITIES and more circular, giving new life to waste materials, in an infinite cycle. Grow in harmony with local communities, promoting a prosperous and respectful development of thei
Slide 16: The ECO PLEDGE® – SDGs and GRI alignment
The ECO PLEDGE® – SDGs and GRI alignment SUSTAINABILITY PILLARS SUPPORTED SDGS SUPPORTED GRI RE THINKING PRODUCTS IN A Until now no GRI related CIRCULAR PERSPECTIVE to new material development PROTECTING THE ENVIRONMENT 302-1:2016 | 303-3:2018 303-4:2016 | 307-1:2016 ATTENTION TO THE WELL-BEING OF T
Slide 17: The ECO PLEDGE® - Sustainability plan and targets (1/2)
The ECO PLEDGE® - Sustainability plan and targets (1/2) SUSTAINABILITY PILLARS IMPROVEMENT AREAS PROJECT 2025 TARGET • Consolidating existing supply • Increasing the production of • ECONYL® accounting at 60% of chain products branded ECONYL® fibre revenues • Creating new sustainable • Increasing the
Slide 18: The ECO PLEDGE® - Sustainability plan and targets (2/2)
The ECO PLEDGE® - Sustainability plan and targets (2/2) SUSTAINABILITY PILLARS IMPROVEMENT AREAS PROJECT 2025 TARGET • Social Responsibility • ISO 8000 • All plants certified by 2028 SHARED • Implementing sustainability and • Participating in the UN Global RESPONSIBILITY social responsibility polici
Slide 19: The ECO PLEDGE® – Re-thinking products
The ECO PLEDGE® – Re-thinking products • Collaboration with the entire value chain is the crucial successful driver towards establishing new circular and sustainable business models MAMMUT NAPAPIJRI CORAL EYEWEAR Closing the loop in PA6 ropes Closing the loop in NTF Closing the loop in Polymers In c
Slide 20: The ECO PLEDGE® – Re-thinking products
The ECO PLEDGE® – Re-thinking products • Innovation to guide the continuous development of new technologies, processes and products • Eco-Design to create products with the “end in mind” which will become future resources, and not wastes Bio-caprolactam and bio-Nylon ECO-DESIGN RESEARCH, DEVELOPMENT
Slide 21: The ECO PLEDGE® – Protecting the environment
The ECO PLEDGE® – Protecting the environment • Aquafil is committed to respect the environment in each phase of its own production process 302-1:2016 | 303-3:2018 303- 4:2018 | 305-1:2016 305-2:2016 | 306-3:2020 • Therefore, activities and investments to reduce impacts and recover energy are constan
Slide 22: The ECO PLEDGE® – Supply chain share responsibility
The ECO PLEDGE® – Supply chain share responsibility • Aquafil establish solid relationships with its customers and suppliers, who share the commitment and desire to improve together towards a more 307-1:2016 | 308-1:2016 413- 1:2016 | 414-1:2016 sustainable supply chain, by leveraging on constant co
Slide 23: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 23
Slide 24: ECONYL®
ECONYL® ECONYL® regenerated nylon CA 37% 100% recycled yarn made of plastic waste such as fishing of 2021 Aquafil Fiber nets, industrial scraps and Revenues used carpets 24
Slide 25: ECONYL® – Steps
ECONYL® – Steps STEP1: Rescue STEP4: Reimagine The ECONYL® Regeneration Fashion brands and carpet System starts with rescuing producers use ECONYL® waste, like fishing nets, fabric regenerated nylon to create scraps, carpet flooring and brand new products industrial plastic from all over And that ny
Slide 26: ECONYL® – Drivers
ECONYL® – Drivers Innovative marketing R&D activities activities Creation of nylon Industrial waste reverse capacity increase logistic platform 26
Slide 27: ECONYL® – Drivers – R&D activities
ECONYL® – Drivers – R&D activities • Usual R&D activities shown us new opportunities in Group production process Recovery of the lactamic water 1990 Recovery of internal PA6 discard 1998 1998 Pre-consumer discard 2007 Post-consumer discard 2011 As reported in the EPD of the ECONYL(R) polymer (Revisi
Slide 28: ECONYL® – Drivers – Nylon waste reverse logistic platform
ECONYL® – Drivers – Nylon waste reverse logistic platform • Group was able to built a nylon “reverse” supply chain to collect raw materials for ECONYL® to create a stable and competitive quantity of nylon waste to be supplied to the regeneration plant in Slovenia – Pre consumer waste – Carpets: Dece
Slide 29: ECONYL® – Drivers – Industrial capacity increase
ECONYL® – Drivers – Industrial capacity increase • Circularity is one of the milestones of Group CAPEX process – Support development and environmental KPI targets achievements • The capability to increase ECONYL® capacity, allowed to consistently follow demand growth • Actual industrial capacity – i
Slide 30: ECONYL® – Drivers – Innovating marketing activities
ECONYL® – Drivers – Innovating marketing activities • Aquafil products are ingredients incorporated into final client products and therefore are not visible to end consumer • Since its launch, ECONYL® ingredient proved to be the perfect fit for a different marketing strategy: a strong ingredient bra
Slide 31: ECONYL® – Drivers – Innovating marketing activities
ECONYL® – Drivers – Innovating marketing activities • “Traditional” marketing strategies ‒ B2B strategy: building marketing towards chain next link through a narrow and single-sided customer- supplier relationship – Multilevel Ingredient strategy (“pull strategy”): product demand is created at diffe
Slide 32: ECONYL® – Drivers – Innovating marketing activities
ECONYL® – Drivers – Innovating marketing activities • ECONYL® branding strategies ‒ Targeted only on the final brand, this approach surpasses limitations and dangers of a too narrow and single-sided customer-supplier relationship ‒ Selling process is based on partnerships and direct communication wi
Slide 33: ECONYL® – To consumer…..
ECONYL® – To consumer….. • Partner sharing same “circularity” vision were attracted by ECONYL® value proposition 33
Slide 34: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 34
Slide 35: 2022 Outlook
2022 Outlook • The Group remains firmly convinced of the need to steer production in all sectors towards sustainability and manufacturing design aimed at the circularity of products and materials, focusing its efforts in both the short and long term on the growth of ECONYL® branded product solutions
Slide 36: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 36
Slide 37: FY21 Main Results
FY21 Main Results REVENUES EBITDA NET PROFIT NFP 2021 2020 Δ% 2021 2020 Δ% 2021 2020 Δ% 31.12.21 31.12.20 Δ% FY 569,7 436,6 30,5% FY 72,1 58,4 23,5% FY 10,7 0,6 - FY (179,3) (218,7) 18,0% % on Revenues 12,7% 13,4% % on Revenues 1,9% 0,1% 4Q 150,4 108,7 38,4% 4Q 12,5 18,3 -31,7% 4Q (3,6) 3,5 - % on R
Slide 38: Revenues – by Components
Revenues – by Components • 4Q2021: volumes increase of ca 6% compared to 4Q19 – Volume: ca +3% compared to 4Q20 – Price & sales mix: positive impact thanks to selling price adjustment to raw material price variation • FY2021: volumes increase of ca 5% compared to FY19 – Volume: ca +19% compared to F
Slide 39: Revenues – Components – Quantity
Revenues – Components – Quantity EMEA: volumes ca +26% vs FY20 and ca+6% vs FY19 / ca+4% vs 4Q20 and +5% vs 4Q19 – BCF: recovery consolidation of “residential” and “automotive” market; – NTF: ECONYL® branded products continues to grow; – Polymers: best in class of growth in the region, with outstand
Slide 40: Revenues – Components – Quantity
Revenues – Components – Quantity USA: volumes ca +8% vs FY20 and ca+1% vs FY19 / ca+11% vs 4Q20 and +8% vs 4Q19 – BCF: in 4Q higher recovery of year thanks to “automotive” market; – NTF: consolidates the growth 40 In BCF, especially in first part of 2019, Group benefitted from the withdrawal by a pr
Slide 41: Revenues – Components – Quantity
Revenues – Components – Quantity ASIA PACIFIC: volumes ca +11% vs FY20 and ca+4% vs FY19 / ca+12% vs 4Q20 and +8% vs 4Q19 – BCF: in FY good performance of “residential”, with a slow down in the 4Q in Oceania market. 41 In BCF, especially in first part of 2019, Group benefitted from the withdrawal by
Slide 42: Revenues – Breakdown by Product Line and Area
Revenues – Breakdown by Product Line and Area (1) O’Mara Incorporated consolidated since 31st May 2019 (2) Rest of World not included 42
Slide 43: Revenues – ECONYL®
Revenues – ECONYL® • Back to normality after the pandemic impact on ECONYL® demand in 2020 ‒ between 1Q and 2Q20 in BCF “contract” customers-built warehouse stocks to face possible production breakdown due to COVID restrictive measures. 46,2% 37.4% 53,8% 62.9% 43
Slide 44: EBITDA – Strong recovery driven by volumes
EBITDA – Strong recovery driven by volumes • € 72,1 m in FY21 compared to € 58,4 m of FY20 and € 69,4 m of FY19 – Strong impact of volumes increase; – During 4Q21 impact of higher utility costs (increase of price in Q122). 44
Slide 45: P&L – KPI
P&L – KPI 4Q FY 2021 2020 ∆% 2021 2020 ∆% REVENUES 150,4 108,7 38,4% 569,7 436,6 30,5% EBITDA 12,5 18,3 -31,7% 72,1 58,4 23,5% % on net sales 8,3% 16,8% 12,7% 13,4% EBIT (0,9) 5,8 21,5 5,9 - % on net sales -0,6% 5,3% 3,8% 1,4% EBT (3,4) 3,0 14,6 0,1 - % on net sales -2,2% 2,8% 2,6% 0,0% NET RESULT (
Slide 46: NFP – NPF/EBITDA
NFP – NPF/EBITDA • NFP on 31st December 2021 equal to 179,3 €/mil, improved by 18,0% compared to 31st December 2020 • Ratio NPF/EBITDA LTM at 2,488x 242 157 112 46
Slide 47: NFP – Focus on NWC and CAPEX
NFP – Focus on NWC and CAPEX • CAPEX equal to € 40,2m mainly related to the capacity and technological improvements including EP investments. • The focus on NWC allowed cash generation despite impact on both turnover growth and raw material price increase 46,2% 37.4% 7 5 17 39 7 27 (1) Net CAPEX, IF
Slide 48: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 48
Slide 49: Projects updating – Bio based nylon project
Projects updating – Bio based nylon project • A pillar of Group “The ECO PLEDGE®” and one of the most relevant initiatives in which the Group takes part – 2 complementary and synergic paths: Genomatica and project EFFECTIVE • Genomatica – Joint technological development to produce the first ever bio
Slide 50: Projects updating – Bio based nylon project
Projects updating – Bio based nylon project • Project EFFECTIVE – Extending Aquafil-Genomatica initiative to the whole supply chain by validating bio-based polyamides and bio-based polyesters from renewable raw materials into large-consumer products o Polymers’ versatility allows application in a wi
Slide 51: Group development – Development in Japan
Group development – Development in Japan • In February important development steps were taken to expand Group presence in Japan – At BCF product line level: establishment of Aquafil Japan Co., Ltd., based in Tokyo, 100% owned by Aquafil S.p.A.: the subsidiary will transform and market polymers and s
Slide 52: Group development – Development in Japan
Group development – Development in Japan ‒ More recent trends o Strong cultural sensitiveness to environmental and sustainability topics ▪ extremely positive recognition for ECONYL® o Some signs of primary competitors withdrawal • Group is focusing its activities to built relationship with important
Slide 53: Group development – Acquisition of ca 32% in NOFIR
Group development – Acquisition of ca 32% in NOFIR ‒ Nofir: based in Bodø, Norway, is a leading European player in the collection and processing of fishing and aquaculture nets at the end of their life cycles. Since 2011, Nofir has collected over 48,000 tons of nets in 20 countries on five continent
Slide 54: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 54
Slide 55: Ownership Structure & Governance – Ownership Structure
Ownership Structure & Governance – Ownership Structure • A capital structure with 3 type of Shares ‒ Ordinary Share ‒ Share B: dedicated to Giulio Bonazzi family with the same economic right of ordinary share but with 3 voting right for any share ‒ Share C: no transferable, no economic and voting ri
Slide 56: Ownership Structure & Governance – Ownership Structure
Ownership Structure & Governance – Ownership Structure • Main Aquafil’s shareholders is Aquafin Holding S.p.A., holding of Giulio Bonazzi Family ‒ Managers are involved too 56
Slide 57: Ownership Structure & Governance – Governance
Ownership Structure & Governance – Governance BOARD OF DIRECTORS Giulio Bonazzi Chairman and CEO Stefano Loro Attilio Annoni Executive Director Executive Director Silvana Bonazzi Franco Rossi Director Director Margherita Zambon Ilaria Maria Dalla Riva Independent Director(1) (6) Independent Director
Slide 58: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 15 2.2. ECONYL® 24 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 50 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 56 5. ANNEXES 59 58
Slide 59: Disclaimer
Disclaimer This presentation and any material distributed in connection herewith (together, the “Presentation”) prepared by Aquafil S.p.A. (“Aquafil” or “Company”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer t
Slide 60: Definitions
Definitions “First choice revenues” are revenues generated by the sale of fibers and polymers, gross of any adjustments «FIRST CHOICE (for example, discounts and allowances), but excluding revenues generated by “non-first choice products”, REVENUES» revenues generated by Aquafil Engineering GmbH and
Slide 61: Appendix - Sector Data – Caprolactam price evolution
Appendix - Sector Data – Caprolactam price evolution 61
Slide 62: Appendix - Consolidate Income Statements
Appendix - Consolidate Income Statements CONSOLIDATED INCOME STATEMENT December of wich non- December of wich non- Fourth of wich non- Fourth of wich non- €/000 2021 current 2020 current Quarter 2021 current Quarter 2020 current Revenue 569.701 784 436.602 458 150.391 197 108.672 171 of which relate
Slide 63: Appendix - Consolidate Income Statements – Revenues FY21
Appendix - Consolidate Income Statements – Revenues FY21 2021 BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2021 2020 Δ Δ% 2021 2020 Δ Δ% 2021 2020 Δ Δ% 2021 2020 Δ Δ% % 21 % 20 EMEA 186,3 150,9 35,4 23,5 % 90,2 67,2 23,0 34,2 % 68,8 29,8 39,0 130,9 % 345,4 247,9 97,4 39,3 % 60,
Slide 64: Appendix - Consolidate Income Statements – Revenues 4Q
Appendix - Consolidate Income Statements – Revenues 4Q IV Quarter BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2021 2020 Δ Δ% 2021 2020 Δ Δ% 2021 2020 Δ Δ% 2021 2020 Δ Δ% % 21 % 20 EMEA 48,9 35,1 13,8 39,2 % 28,0 15,9 12,1 76,1 % 13,3 10,2 3,2 31,1 % 90,2 61,2 29,0 47,5 % 60,0
Slide 65: Appendix - Consolidate Income Statements – EBITDA & EBITD Adj
Appendix - Consolidate Income Statements – EBITDA & EBITD Adj RECONCILIATION FROM NET PROFIT TO EBITDA €/000 December December Fourth Quarter Fourth Quarter 2021 2020 2021 2020 Net Profit (Including Portion Attr. to Minority ) 10.670 595 (3.588) 3.494 Income Taxes 3.934 (517) 224 (449) Amortisation
Slide 66: Appendix - Consolidate Balance Sheet(1)
Appendix - Consolidate Balance Sheet(1) CONSOLIDATED BALANCE SHEET At December 31, €/000 At December 31, 2021 2020 Intangible Assets 23.551 23.578 Goodwill 14.735 13.600 Tangible Assets 240.489 229.495 Financial Assets 710 650 of which related parties 318 318 Investments & Equity metod 1.018 Other A
Slide 67: Appendix - Consolidate Balance Sheet(2)
Appendix - Consolidate Balance Sheet(2) CONSOLIDATED BALANCE SHEET At December 31, €/000 At December 31, 2021 2020 Share Capital 49.722 49.722 Reserves 91.708 76.579 Group Net Profit for the year 10.670 595 Group Shareholders Equity 152.101 126.896 Net Equity attributable to minority interest 1 1 Ne
Slide 68: Appendix - Net Financial Position
Appendix - Net Financial Position NET FINANCIAL DEBT At December 31, At December 31, €/000 2021 2020 A. Liquidity 152.656 208.954 B. Cash and cash equivalents - - C. Other current financial assets 860 834 D. Liquidity (A + B + C) 153.516 209.787 E. Current financial debt (including debt instruments
Slide 69: Appendix - Consolidated Cash Flow Statement (1)
Appendix - Consolidated Cash Flow Statement (1) CASH FLOW STATEMENT At December 31, At December 31, €/000 2021 2020 Operation Activities Net Profit (Including Portion Attr. to Minority ) 10.670 595 of which related parties (591) (689) Income Taxes 3.934 (517) Financial income (914) (352) Financial c
Slide 70: Appendix - Consolidated Cash Flow Statement (2)
Appendix - Consolidated Cash Flow Statement (2) CASH FLOW STATEMENT At December 31, At December 31, €/000 2021 2020 Investing activities Investment in Tangible Assets (34.632) (21.851) Disposal of Tangible Assets 353 1.121 Investment in Intangible Assets (4.977) (6.020) Disposal of Intangible Assets
Slide 71: Investors Contact:
Investors Contact: Karim Tonelli Investor Relations & Performance Management Director karim.tonelli@aquafil.com Mob: +39 348 60 22 950 71