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  "documentTitle": "Salvatore Ferragamo | Results Presentation Deck | 11 slides",
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  "authorName": "Salvatore Ferragamo",
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  "presentationDate": "2021-09-01 00:00:00",
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  "notes": "The table includes detailed line items for assets, liabilities, and equity, with percentage changes. Commentary highlights specific operational efficiencies and investment drivers.",
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      "text": "Net Financial Position adj. (ex. IFRS16 impact) at 30 June 2021 positive for 205M Euros, compared to 58M Euros positive as of 30 June 2020. Including IFRS16 effect, the Net Financial Position at 30 June 2021 is negative for 357M Euros.",
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      "text": "Investments (CAPEX) at 13M Euros, vs. 11M Euros in 1H'21, mainly driven by retail network renovations and investments in the digital channel.",
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      "text": "Net Working Capital down 16.4%, with continuing efficiency in Inventory, decreasing by 19.8% (-21.6% at const. FX, -15.3% at const. FX excluding Fragrances) thanks to an improvement in operational effciency.",
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