Iren : Annual report at 31 December 202

Annual Report

at 31 December 2022

Summary

Introduction

Corporate officers............................................................................................................................................

Shareholders' Meeting notification...............................................................................................................

Letter to Shareholders and Stakeholders....................................................................................................

Ownership structure........................................................................................................................................

Mission and Vision of Iren Group..................................................................................................................

Key figures of Iren Group: Highlights 2022.................................................................................................

The Corporate Structure of Iren Group........................................................................................................

Information on the Iren stock in 2022..........................................................................................................

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Directors'			Significant events of the year	30
				Market context	..................	22
Report			Alternative Performance Measures	33
				Financial position, financial performance and cash flows of Iren Group	35
				Segment reporting		43
				Financial position, financial performance and cash flows of Iren S.p.A	54
				Financial Management	..........................	59
				Significant events after the reporting date and outlook	62
				Risks and uncertainties		65
				Transactions with related parties	..........	72
				Legislative and regulatory framework	73
				Personnel		94
				Integrated Management Systems, Organisation and Information Technology	95
				Research and Development		99
				Iren and Sustainability		110
				Other Information	111
				Information on Corporate Governance	112
				Proposals of the Board of Directors to the Shareholders' Meeting	125
				Statement of Financial Position…….............................……………………………....……	128
Consolidated		Income Statement…………………………………..................................………………………………............…	130
Financial
				Statement of Other Comprehensive Income..………..................................……	131
				Statement of Changes in Equity	132
Statements			Statement of Cash Flows		134
				Notes to the Consolidated Financial Statements	135
				I.	Basis of presentation	.......................................…	135
				II.	Basis of consolidation	………................................................................................................….	139
				III.	Consolidation Scope………	..…..……………...........................................................................………	141
				IV.	Business Combinations…...……………………..........................................………..............................……	144
				V.	Accounting policies	........…...............................………............……	156
				VI.	Group financial risk management.…………	…………..............………......…….....……	172
				VII.	Related party transactions	….………………………………………………	183
				VIII.	Significant events after the reporting date	……	185
				IX.	Other information…………………………….……......………...............................…....................................…	186
				X.	Information on the Statement of Financial Position…….………….…………………	187
				XI.	Information on the Income Statement..…………………....................................................……	217
				XII.	Guarantees and contingent liabilities….…………………..........…….…………..................................……	228
				XIII.	Segment reporting	……………………………….………….……………………………….….…	231
				XIV.	Annexes to the Consolidated Financial Statements...…………….…………………….…………. 233
				Statement regarding the Consolidated Financial Statements pursuant to Art.81-ter of CONSOB
				Regulation no. 11971 of 14 May 1999 as subsequently amended and supplemented	249
				Independent Auditors' Report on the Consolidated Financial Statements……..................................... 250
				Statement of Financial Position	…………………….............................……………	258
Separate Financial		Income Statement…………………………………………………….................................……	260
Statements			Statement of Other Comprehensive Income	..…….........................……	261
				Statement of Changes in Equity………………...……	262
				Statement of Cash Flows..………………………...................................…………………………	264
				Notes to the Separate Financial Statements	……………………………………	265
This document is a supplementary variant of the
official version compliant with the provisions of	I.	Basis of presentation	……………	265
Commission	Delegated	Regulation	(EU)	II.	Accounting policies	…….…………................................…	268
2019/815 (the ESEF Regulation - European Single	III.	Financial risk management of Iren S.p.A…………………..............................……………	281
Electronic	Format). This	document	thus	IV.	Related party transactions	........…………………	288
constitutes	an unofficial version of the Annual	V.	Significant events after the reporting date	……….........................………	290
Report as of 31 December 2022, a format made	VI.	Other information....…………….………………………	290
available only for exhibition purposes.		VII.	Information on the Statement of Financial Position.....…….…………	291
				VIII.	Information on the Income Statement………	311
The official document in electronic format ESEF is
				IX.	Guarantees and contingent liabilities……..…………….…………………	318
published and filed according to the provisions of
the law.				X.	Annexes to the Separate Financial Statements	319
				Statement regarding the Separate Financial Statements pursuant to Art. 81-ter of CONSOB
				Regulation no. 11971 of 14 May 1999 as subsequently amended and supplemented..........…....... 333
				Independent Auditors' Report on the Separate Financial Statements	334
				Report of the Board of Statutory Auditors of Iren S.p.A. to the Shareholders' meeting	339
				Summary of the resolutions of the Shareholders' meeting	347

Iren is the energy, environmental and infrastructure operator active in a multi-regional area with more than 10,000 employees, a portfolio of over 2 million customers in the energy sector, approximately 2.7 million residents served in the integrated water cycle and 3.8 million residents in the environmental cycle.

Introduction

at 31 December 2022