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Glossary

Ebitda: is the operating profit before amortization and depreciation;

Capital expenditure: refers to purchases of tangible and intangible fixed assets;

Free Cash Flow: is the sum of the cash flow from/(for) operating activities and the cash flow from /(for) investing activities.

Net invested capital: (or Net capital employed) refers to the algebraic sum of shareholders’ equity of the Group and minority interests and the “Net financial position”;

Net working capital: refers to the algebraic sum of inventories, trade receivables and trade payables.;

Net financial position: refers to the sum of bank borrowings, short, medium and long-term borrowings, net of cash held in hand and at bank;

Operating profit (EBIT): difference between revenue and cost of goods sold in a certain period. The profit or loss of operations before costs and revenue from financial transactions and taxes;

ROS: is the ratio between operating profit and sales;

ROI: is the ratio between operating profit and net invested capital;

ROE: is the ratio between Group net profit (loss) and Group shareholders’ equity;

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Free float: percentage of shares in a listed company that are freely available to the investing public, meaning they are not held by a strategic reference shareholder;

ISIN: acronym for International Securities Identification Number, a unique international code which identifies a securities issue. Each country has a national numbering agency which assigns ISIN numbers for securities in that country;

SEDOL: acronym for Stock Exchange Daily Official List number, a code used by the London Stock Exchange to identify foreign stocks (London Stock Exchange).

Articles of Association: the Articles of Association of SAFILO GROUP S.p.A., in the version last updated by resolution passed on 27 June 2007, published on the Company’s website.

CFA: Legislative Decree no. 58 of 24 February 1998 (the Consolidated Finance Act)..

Code: the Listed Companies’ Self-Regulatory Code approved by the Corporate Governance Committee in March 2006 and promoted by Borsa Italiana S.p.A.

Instructions to Stock Market Regulations: the Instructions to the Regulations for Markets organised and managed by Borsa Italiana S.p.A.

STM: the Screen-based Trading Market organised and managed by Borsa Italiana S.p.A.

Stock Market Regulations: the Regulations governing Markets organised and managed by Borsa Italiana S.p.A.

Issuers’ Regulation: the Regulation that implements the CFA (Consolidated Finance Act) and adopted by Consob in Resolution no. 11971 of 1999

Report: the corporate governance report which companies are required to draw up by articles 89-bis of the Consob Issuers’ Regulation and IA.2.6. of the Instructions to the Stock Market Regulations.

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Last updated: August 2, 2017

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