Interpump : Yearly Financial Statements as at 31/12/2018

Annual Financial Report

at 31 December 2018

Annual Financial Report at 31-12-2018 - Interpump Group

Contents

			Page
Composition of corporate bodies	3
Board of Directors' Report for 2018	5
Consolidated financial statements at 31/12/2018	33
Consolidated statement of financial position	34
Consolidated income statement	36
Comprehensive consolidated income statement	37
Consolidated cash flow statement	38
Statement of changes in consolidated shareholders' equity	40
Notes to the annual financial report	41
1.	General information	41
2.	Scope of consolidation	41
3.	Accounting standards	44
	3.1	Reference accounting standards	44
		3.1.1 Accounting standards, amendments and interpretations in force
		from 1 January 2018 and adopted by the Group	45
		3.1.2 Accounting standards, amendments and interpretations in force
		from 1 January 2018, but not relevant for the Group	46
		3.1.3 New accounting standards and amendments
		not yet applicable and not adopted early by the Group	47
	3.2	Consolidation principles	49
	3.3	Business sector information	52
	3.4 Treatment of foreign currency transactions	52

3.5Non-currentassets held for sale

	and discontinued operations	53
3.6	Property, plant and equipment	54
3.7	Goodwill	55
3.8	Other intangible assets	55
3.9	Impairment of assets	56
3.10	Equity investments	57
3.11	Cash and cash equivalents	57
3.12	Financial assets (Trade receivables, Other financial assets
	and Other assets)	58
3.13	Derivative financial instruments	59
3.14	Inventories	60
3.15	Share capital and Treasury Shares	61
3.16	Financial liabilities (Trade payables, Bank payables,
	Interest-bearing financial payables and Other liabilities)	61
3.17	Liabilities for employee benefits	61
3.18	Income taxes	63

Annual Financial Report at 31-12-2018 - Interpump Group

	3.19 Provisions for risks and charges	64
	3.20	Revenues	64
	3.21	Costs	65
4.	Business sector information	65
5.	Business combinations	71
6.	Cash and cash equivalents	75
7.	Trade receivables	75
8.	Inventories	76
9.	Other current assets	76
10.	Property, plant and equipment	77
11.	Goodwill		78
12.	Other intangible assets	79
13.	Other financial assets	80
14.	Deferred tax assets and liabilities	82
15.	Assets and liabilities held for sale	83
16.	Interest-bearing financial payables and bank payables	83
17.	Other current liabilities	85
18.	Provisions for risks and charges	86
19.	Liabilities for employee benefits	86
20.	Other non-current liabilities	87
21.	Share capital	88
22.	Reserves		94
23.	Minority shareholders' equity	95
24.	Other net revenues	96
25.	Costs by nature	96
26.	Directors' and statutory auditors' remuneration	97
27.	Financial income and expenses	97
28.	Income taxes	98
29.	Earnings per share	100
30.	Information on financial assets and liabilities	101
31.	Information on financial risks	102
32.	Notes to the cash flow statement	107
33.	Commitments	107
34.	Transactions with related parties	108
35.	Events occurring after the close of the year	110
Annex 1: Certification of the consolidated financial statements pursuant to art. 81-(3) of
Consob regulation no. 11971 of 14 May 1999 as amended	111
Report of the Board of Statutory Auditors on the consolidated financial statements	112
Independent auditor's report on the consolidated financial statements	119
Interpump Group S.p.A. - Separate Financial Statements at 31 December 2018	125

Annual Financial Report at 31-12-2018 - Interpump Group

Board of Directors

Fulvio Montipò

Chairman and Chief Executive Officer

Paolo Marinsek

Deputy Chairman

Angelo Busani (a)

Independent Director

Antonia Di Bella

Independent Director

Franco Garilli (a), (b), (c)

Independent Director

Lead Independent Director

Marcello Margotto (b)

Independent Director

Stefania Petruccioli (a), (c)

Independent Director

Paola Tagliavini (a), (c)

Independent Director

Giovanni Tamburi (b)

Non-executive Director

Board of Statutory Auditors

Fabrizio Fagnola

Chairman

Federica Menichetti

Statutory auditor

Alessandra Tronconi

Statutory auditor

Independent Auditors

EY S.p.A.

(a)Member of the Audit and Risks Committee

(b)Member of the Remuneration Committee and Appointments Committee

(c)Member of the Related Party Transactions Committee