Medica S p A : Separate and Consolidated Financial Statements at 31 December 2022

Separate and Consolidated Financial Statements

at 31 December 2022

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Table of contents
DETAILS OF THE PARENT COMPANY	4
COMPOSITION OF THE PARENT COMPANY'S CORPORATE AND CONTROL BODIES	5
REPORT ON OPERATIONS	6
INTRODUCTION	6
THE GROUP'S STRUCTURE AND BUSINESS	6
GENERAL ECONOMIC PERFORMANCE	8
THE COMPANY AND THE GROUP'S ECONOMIC AND FINANCIAL PERFORMANCE	8
THE GROUP'S RESULTS OF OPERATIONS	9
THE GROUP'S RECLASSIFIED BALANCE SHEET	10
THE GROUP'S NET FINANCIAL DEBT	12
THE COMPANY'S RESULTS OF OPERATIONS	13
THE COMPANY'S RECLASSIFIED BALANCE SHEET	13
THE COMPANY'S NET FINANCIAL DEBT	15
NON-GAAP ALTERNATIVE PERFORMANCE INDICATORS	15
ATYPICAL AND/OR UNUSUAL TRANSACTIONS	16
RELATED-PARTY TRANSACTIONS	16
DESCRIPTION OF RISKS AND UNCERTAINTIES TO WHICH THE COMPANY AND THE GROUP ARE EXPOSED AND FINANCIAL
INSTRUMENTS	16
TREASURY SHARES	17
ENVIRONMENT AND PERSONNEL	17
RESEARCH AND DEVELOPMENT ACTIVITY	18
SIGNIFICANT EVENTS IN 2022	18
EVENTS AFTER THE REPORTING DATE	19
OUTLOOK	20
CONSOLIDATED FINANCIAL STATEMENTS OF THE MEDICA GROUP	21
BALANCE SHEET	21
INCOME STATEMENT	23
CASH FLOW STATEMENT	24
NOTES TO THE FINANCIAL STATEMENTS	25
1.	GENERAL INFORMATION	25
2.	BASIS OF PREPARATION	25
3.	FORM OF THE FINANCIAL STATEMENTS	25
4.	SCOPE OF CONSOLIDATION	26
5.	CONSOLIDATION PRINCIPLES	26
6.	ACCOUNTING POLICIES	27
7.	INTANGIBLE ASSETS	30
8.	PROPERTY, PLANT AND EQUIPMENT	32
9.	NON-CURRENT FINANCIAL ASSETS	33
10.	INVENTORIES	34
11.	RECEIVABLES STATED UNDER CURRENT ASSETS	34
12.	CASH AND CASH EQUIVALENTS	36
13.	ACCRUED INCOME AND PREPAID EXPENSES	36
14.	SHAREHOLDERS' EQUITY	36
15.	PROVISIONS FOR RISKS AND CHARGES	37
16.	EMPLOYEE SEVERANCE PAY	37
17.	PAYABLES	38
18.	ACCRUED EXPENSES AND DEFERRED INCOME	40
19.	REVENUES FROM SALES AND SERVICES	40
20.	CAPITALISATION OF INTERNAL CONSTRUCTION COSTS	41
21.	OTHER REVENUES	41
22.	COSTS FOR SERVICES, LEASES AND RENTALS AND OTHER OPERATING CHARGES	41
23.	PERSONNEL COSTS	42
24.	FINANCIAL INCOME AND COSTS	42
25.	INCOME TAX	43
26.	RELATED-PARTY TRANSACTIONS	43
27.	EVENTS AFTER THE REPORTING DATE	44
28.	OTHER INFORMATION	44
INDEPENDENT AUDITORS' REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS	47
SEPARATE FINANCIAL STATEMENTS OF MEDICA SPA	51
BALANCE SHEET	51
INCOME STATEMENT	53
CASH FLOW STATEMENT	54
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NOTES TO THE FINANCIAL STATEMENTS	55
1.	BASIS OF PREPARATION	55
2.	ACCOUNTING POLICIES	55
3.	INTANGIBLE ASSETS	59
4.	PROPERTY, PLANT AND EQUIPMENT	60
5.	NON-CURRENT FINANCIAL ASSETS	61
6.	INVENTORIES	62
7.	RECEIVABLES STATED UNDER CURRENT ASSETS	62
8.	CASH AND CASH EQUIVALENTS	63
9.	ACCRUED INCOME AND PREPAID EXPENSES	64
10.	SHAREHOLDERS' EQUITY	64
11.	PROVISIONS FOR RISKS AND CHARGES	65
12.	EMPLOYEE SEVERANCE PAY	65
13.	PAYABLES	65
14.	ACCRUED EXPENSES AND DEFERRED INCOME	67
15.	REVENUES FROM SALES AND SERVICES	67
16.	CAPITALISATION OF INTERNAL CONSTRUCTION COSTS	68
17.	OTHER REVENUES	68
18.	COSTS FOR SERVICES AND LEASES AND RENTALS	68
19.	PERSONNEL COSTS	69
20.	FINANCIAL INCOME AND COSTS	69
21.	INCOME TAX	70
22.	INFORMATION REQUIRED BY ARTICLE 1, PARAGRAPH 125, OF LAW NO. 124 OF 4 AUGUST 2017	71
23.	RELATED-PARTY TRANSACTIONS	71
24.	EVENTS AFTER THE REPORTING DATE	72
25.	OTHER INFORMATION	72
BOARD OF STATUTORY AUDITORS' REPORT	75
INDEPENDENT AUDITORS' REPORT ON THE SEPARATE FINANCIAL STATEMENTS	78

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Details of the Parent Company

Medica S.p.A.

Registered office

Via degli Artigiani, 7 41036 Medolla (MO)

Legal information

Authorised share capital : Euro 4,223,250

Subscribed and paid-up share capital: Euro 4,223,250

Tax code/Register of Companies/VAT no. 01604300366

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Composition of the Parent Company's corporate and control bodies

Board of Directors

In office until the approval of the financial statements at 31 December 2023

Fecondini Luciano

Chairman of the board of directors Fecondini Marco

Managing director Bocchi Letizia Managing director Stancari Chiara Managing director Andrea Moschetti independent director

Board of Statutory Auditors

In office until the approval of the financial statements at 31 December 2024

Mazza Anna Laura	Quattrini Loris
Chairman	Alternate Auditor
Grazia Stefania	Guerzoni Sandra
Standing Auditor	Alternate Auditor
Vergnanini Riccardo
Standing Auditor

Independent Auditors

In office until the approval of the financial statements at 31 December 2022

EY S.p.A.

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