ANNUAL FINANCIAL REPORT 2022/23
Unieuro S.p.A.
Palazzo Hercolani - Via Piero Maroncelli, 10 - 47121 Forlì (FC) - Italy Companies Register of Forlì-Cesena, REA registration No. 177115 Country of registration - Italy
Tax and VAT No. 00876320409
Description of the nature of the activity: Retail and wholesale trade, import and export distribution of household appliances and consumer electronic goods through physical outlets and through e-commerce. Installation and maintenance of all commercially available equipment. Organisation and management, including indirectly, of serving food and beverages to the public within the outlets.
Parent company name - Unieuro S.p.A..
1
CONTENTS | |
Directors' Report | |
ANNUAL FINANCIAL REPORT 2022/23 | 1 |
DIRECTORS' REPORT | 11 |
Letter to the Shareholders from the Chairperson of the Board of Directors | 12 |
CEO's letter to the Shareholders | 13 |
1. Introduction | 14 |
2. Methodological note | 15 |
3. Accounting policies | 16 |
Key financial performance indicators | 17 |
4. Strategy and Business Model | 19 |
4.1 Maximising the experience and level of service provided to the end customer throughout
the entire journey | 19 |
4.2 The purpose and rethinking of the strategy from a "Value & Sustainability driven"
perspective | 20 |
4.3 Developing an increasingly competitive offering: extending the range of private labels21
5. Market performance | 22 | |
6. Group operating and financial results | 24 | |
6.1 | Consolidated revenues | 24 |
6.1.1 Consolidated revenues by channel | 24 | |
6.1.2 Consolidated revenues by category | 25 | |
6.2 | Consolidated operating profit | 27 |
6.3 | Non-recurringexpenses/(income) | 30 |
2 |
6.4 | Net result | 31 |
6.5 | Cash flows | 33 |
6.5.1 Consolidated Adjusted Levered Free Cash Flow | 33 | |
7. Statement of financial position | 35 | |
8. Performance of the parent company Unieuro | 38 | |
9. Reconciliation statement of parent company's shareholders' equity and net result with Group | ||
shareholders' equity and net result | 40 | |
10. | Investments | 41 |
11. | IFRS 16 Impacts | 42 |
12. | Corporate governance and ownership structure | 43 |
13. Information on related party transactions and non-recurring, atypical or unusual
transactions | 44 |
14. Information on Corporate Boards | 46 |
14.1. Stock option plans | 46 |
Long Term Incentive Plan | 46 |
2020-2025Performance share plan | 48 |
2023-2028Performance share plan | 50 |
14.2. Unieuro treasury shares | 51 |
15. Option to waive the requirement to publish a disclosure document in cases of insignificant
transactions | 52 | |
16. | Personnel-relatedinformation | 53 |
17. | Management and coordination | 55 |
18. | Main risks and uncertainties to which the Group is exposed | 56 |
18.1. | Strategic and operational risks | 56 |
3
18.2. | Legal and non-compliancerisks | 61 |
19. | Significant events during the year and after the end of the year | 63 |
20. | Outlook | 66 |
CONSOLIDATED FINANCIAL STATEMENTS | 67 | |
NOTES | 72 | |
1. INTRODUCTION | 72 | |
2. ACCOUNTING POLICIES ADOPTED FOR THE PREPARATION OF CONSOLIDATED FINANCIAL | ||
STATEMENTS AND SUMMARY OF ACCOUNTING PRINCIPLES | 73 | |
2.1 | Basis of preparation of Consolidated Financial Statements | 73 |
2.2 | Basis of Presentation of the Consolidated Financial Statements | 73 |
2.3 | IFRS Compliance Statement | 74 |
2.4 | Consolidated Financial Statements | 74 |
2.5 | Consolidation principles and consolidation scope | 75 |
2.6 Use of estimates and valuations in the preparation of Consolidated Financial Statements
76
2.7 | Main accounting policies | 80 |
2.7.1 | Main accounting policies | 80 |
2.8 | New accounting standards | 97 |
3. FINANCIAL RISK MANAGEMENT | 98 | |
3.1 | Credit risk | 98 |
3.2 | Liquidity risk | 99 |
3.3 | Market risk | 100 |
3.3.1 | Interest rate risk | 100 |
3.3.2 | Currency risk | 100 |
4 |
3.4 Fair value estimate | 101 |
4. INFORMATION ON OPERATING SEGMENTS | 103 |
5. EXPLANATORY NOTES TO INDIVIDUAL ITEMS IN THE CONSOLIDATED FINANCIAL STATEMENTS
104
5.1 | Plant, machinery, equipment and other assets | 104 |
5.2 | Goodwill | 106 |
5.2.1 | Impairment test | 107 |
5.3 | Intangible assets with finite useful lives | 112 |
5.4 | Right-of-useassets | 113 |
5.5 | Deferred tax assets and deferred tax liabilities | 114 |
5.6 | Other current assets and other non-currentassets | 115 |
5.7 | Inventories | 116 |
5.8 | Trade receivables | 117 |
5.9 | Current tax assets and liabilities | 119 |
5.10 | Cash and cash equivalents | 120 |
5.11 | Shareholders' Equity | 121 |
5.12 | Financial liabilities | 125 |
5.13 | Employee benefits | 126 |
5.14 | Other financial liabilities | 128 |
5.15 | Provisions | 130 |
5.16 | Other current liabilities and other non-current liabilities | 131 |
5.17 | Trade payables | 132 |
5.18 | Revenues | 133 |
5 |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Unieuro S.p.A. published this content on 19 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 May 2023 18:43:04 UTC.