GVS S p A : ANNUAL FINANCIAL REPORT 2020

2020 Annual Financial Report

GVS Group

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TABLE OF CONTENTS
INFORMATION ABOUT THE COMPANY AND INFORMATION FOR SHAREHOLDERS ....................................................	3
GROUP STRUCTURE* ...................................................................................................................................................................	4
CORPORATE BODIES....................................................................................................................................................................	5
DIRECTORS' REPORT ON OPERATIONS....................................................................................................................................	6
CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2020...............................................................................	22
EXPLANATORY NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AT 31 DECEMBER 2020....................	28
SCHEDULES ANNEXED TO THE CONSOLIDATED FINANCIAL STATEMENTS ..............................................................	85
CERTIFICATION OF THE CONSOLIDATED FINANCIAL STATEMENTS PURSUANT TO ARTICLE 154 BIS OF
LEGISLATIVE DECREE 58/98.....................................................................................................................................................	90
INDEPENDENT AUDITOR'S REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER
2020.................................................................................................................................................................................................	91
FINANCIAL STATEMENTS AT 31 DECEMBER 2020 ..............................................................................................................	93
EXPLANATORY NOTES TO THE FINANCIAL STATEMENTS AT 31 DECEMBER 2020 ...................................................	99
SCHEDULES ATTACHED TO THE FINANCIAL STATEMENTS..........................................................................................	153
CERTIFICATION OF THE FINANCIAL STATEMENTS PURSUANT TO ARTICLE 154 BIS OF LEGISLATIVE DECREE
58/98..............................................................................................................................................................................................	158
REPORT OF THE BOARD OF STATUTORY AUDITORS TO THE SHAREHOLDERS' MEETING ON THE FINANCIAL
STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020 .............................................................................................	159
INDEPENDENT AUDITOR'S REPORT ON THE FINANCIAL STATEMENTS AS AT 31 DECEMBER 2020 ....................	160

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INFORMATION ABOUT THE COMPANY AND INFORMATION FOR SHAREHOLDERS

REGISTERED OFFICE

GVS S.p.A.

Via Roma 50

40069 Zola Predosa

BOLOGNA, ITALY Phone [phone] Fax + 39 [phone]www gvs com

LEGAL INFORMATION

Share capital: Euro 1,750,000

Tax code 03636630372

VAT number 00644831208

REA of Bologna 0305386

Register of Companies of Bologna 45539

INVESTOR RELATIONS

E-mail [e-mail]

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GROUP STRUCTURE*

*For information on the company name, registered office, the currency in which the Company operates, share capital of the GVS Group companies and the stake held by GVS SpA, please see the Explanatory Notes.

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CORPORATE BODIES

Board of Directors

Chairman Grazia Valentini (2)

Chief Executive Officer Massimo Scagliarini

Executive Directors Marco Scagliarini

	Mario Saccone
	Matteo Viola
Independent Directors Nadia Buttignol (1)
	Arabella Caporello (1)
	Alessandro Nasi (2)
	Michela Schizzi (1) (2)
Board of Statutory Auditors
Chair Patrizia Lucia Maria Riva
Standing auditors Francesca Sandrolini
	Stefania Grazia
Substitute auditors Daniela Baesi
	Mario Difino
Manager responsible for the preparation of the Company's
accounting documents	Emanuele Stanco

Independent auditors

PricewaterhouseCoopers SpA

1. Member of the Control, Risk and Sustainability Committee
2. Member of the Nominations and Remuneration Committee

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