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  "documentTitle": "Salvatore Ferragamo | Results Presentation Deck | 9 slides",
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  "authorName": "Salvatore Ferragamo",
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  "presentationDate": "2022-03-01 00:00:00",
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  "notes": "The table includes a breakdown of assets, liabilities, equity, and net debt calculations.",
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      "text": "Net Working Capital down 36.6%, with continuing efficiency in Inventory, decreasing by 19.2% (-17.6% at const. FX excl. Fragrances). Investments (CAPEX) at 44M Euros, vs. 29M Euros in FY'20, mainly driven by investments in the retail network. Net Financial Position adj. (ex. IFRS16 impact) at 31 December 2021 positive for 373M Euros, compared to 139M Euros positive as of 31 December 2020. Including IFRS16 effect, the Net Financial Position at 31 December 2021 is negative for 224M Euros.",
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      "text": "FY 2021 Balance Sheet",
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