ANNUAL FINANCIAL STATEMENTS SILMAR GROUP 2022

ANNUAL FINANCIAL STATEMENTS SILMAR GROUP 2022

July 27, 2023

Silmar Group is a diversified and strongly synergic reality, operating on the global market with thirty production sites in over one hundred markets. The Group's companies are leaders in the heating sector with Fondital, in aluminium alloys from recycled materials with Raffmetal; in plumbing, recycling of plastic materials and passive fire protection with Valsir and its subsidiaries and affiliates in Italy and abroad.

In the three-year period, the Group's companies reached an investment quota of € 238,544,000.

		2020	2021	2022	Var %
Turnover	€	877,446,000	1,217,250,000	1,515,810,000	+24,5
Investments	€	57,843,000	62,973,000	117,728,000	+86,9
EBITDA	€	121,118,000	174,641,000	199,522,000	+14,2
Depreciation and amortisation	€	43,405,000	60,512,000	56,839,000	-6,1
Net profit	€	53,507,000	85,376,000	104,057,000	+21,9
Cash flow	€	103,106,000	145,890,000	169,280,000	+16,0
Total employees	N°	3,334	3,548	3,651	+2,9
Italy	N°	1,879	1,978	2,117
Foreign	N°	1,455	1,570	1,534

Aggregated data

All Group companies share a structured sustainability path that has enabled them to anticipate European directives and meet stakeholders' needs in ESG terms.

The Group dedicates significant resources to the well-being and ongoing training of its employees, through structured welfare plans and work-life balance services. It also supports corporate social responsibility initiatives that promote sports, cultural, scholastic, religious, artistic and health-related growth in the territory of Brescia and its province, with particular attention to the local younger generations.

The Group has defined an industrial plan that envisages significant investments in renewable energies in order to achieve the goal of climate neutrality in 2050.

In terms of aggregate revenues, 2022 was the best financial year ever recorded by the Silmar Group in its history.

SILMAR GROUP: FORECAST EVOLUTION 2023

During the first half of 2023, there was a decrease in energy prices, although demand within the Eurozone is slowing down due to the multiple uncertainty factors of rising inflation and interest rates.

During 2023, the industrial plan of all Group companies aimed at the continuous streamlining of plants and factories to achieve the goal of product and process climate neutrality will continue.

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INFORMATION NOTE pursuant to Art. 13 L.D. 196/2003

Dear Sir/Madam,
please be informed that Legislative Decree no. 196 of June 30th 2003 (Personal Data Protection Code) provides the regulations concerning the protection to persons and other subjects regarding the processing of personal data.
In line with the above-mentioned decree, the processing of your data shall always be based on principles of accuracy, honesty and transparency further to the safeguarding of your privacy, confidentiality and rights.

In accordance with the requirements of art. 13 of Legislative Decree no. 196/2003, pleased be informed as follows:
1. The data you provide will be processed for the purposes indicated below:
- mailing of commercial information;
- advertising of events, products and news;
- news on the visit you made to the company;
- mailing of newsletters;
- registration in the company database.
2. The data will be processed using manual and electronic systems used to save, manage and transmit the data, for reasons strictly related to the stated purposes, according to the data in our possession.
3. The collection of data is optional, and lack of consent to provide the same information will not have any consequence.
4. Your non-sensitive personal data may be communicated to:
- all those subjects to whom the regulations and laws grant the right to access such data;
- our collaborators and employees, within the scope of their relative duties;
- post offices, hauliers and couriers pursuant to the sending of documents and/or material, when the communication is necessary or essential for the performance of our activities and according to the terms and for the purposes stated above;
- all those physical and/or juridical persons, when the communication is necessary or essential for the performance of our activities and according to the terms and for the purposes stated above.
5. The Data Controller is Raffmetal S.p.A., with registered office in Casto (BS) Via Malpaga, no. 82, in the person of its legal representative.
6. The Chief Processor is Raffmetal S.p.A., with registered office in Casto (BS) Via Malpaga, no. 82, in the person of its legal representative.
7. Users are entitled, at any moment in time, to exercise their rights against the Data Controller, as foreseen by art. 7 of Legislative Decree no. 196/2003 which, to assist you further, we include below:

Legislative Decree no. 196/2003
Art. 7 - Rights to access personal data and other rights

1. The Data Subject has the right to request confirmation as to whether or not personal data concerning you exists, regardless of their being already recorded, and communication of such data in an intelligible form.
2. The Data Subject has the right to obtain indications on:
a) the source of the personal data;
b) the purposes and methods of the processing;
c) the logic applied to the processing, if the latter is carried out with the aid of electronic means;
d) the identification data concerning the Data Controller, data processors and the representative designated as per Section 5 (2);
e) the subjects or categories of subjects to whom the personal data may be communicated or who may become aware of such data in their capacity as Representatives for the Country, Chief Processors or Designated Officers.
3. The Data Subject has the right to obtain:
a) updating, rectification or, where interested therein, integration of the data;
b) erasure, anonymisation or blocking of data that have been processed unlawfully, including data whose retention is unnecessary for the purposes for which they have been collected or subsequently processed;
c) certification to the effect that the operations as per letters a) and b) have been notified, as also related to their contents, to the entities to whom or which the data were communicated or disseminated, unless this requirement proves impossible or involves a manifestly disproportionate effort compared with the right that is to be protected.
4. The Data Subject is entitled to oppose, totally or partially:
a) on legitimate grounds, the processing of personal data concerning him/her, even though they are relevant to the purpose of the collection;
b) the processing of personal data concerning him/her, where it is carried out for the purpose of sending advertising materials or direct selling or else for the performance of market or commercial communication surveys.