| INDEX | 4 |
| INDEPENDENT AUDITORS’ REPORT ON CONSOLIDATED FINANCIAL STATEMENTS | 6 |
| CONSOLIDATED MANAGEMENT REPORT | 8 |
| ANNUAL CORPORATE GOVERNANCE REPORT | 16 |
| CONSOLIDATED BALANCE SHEETS | 58 |
| CONSOLIDATED COMPREHENSIVE PROFIT AND LOSS STATEMENTS | 60 |
| CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY | 61 |
| REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS | 63 |
| 1. ACTIVITY AND COMPOSITION OF THE PARENT COMPANY | 63 |
| 2. BASIS OF PRESENTATION OF THE CONSOLIDATED FINANCIAL STATEMENTS AND CONSOLIDATION PRINCIPLES | 63 |
| 3. DISTRIBUTION OF PROFITS | 68 |
| 4. VALUATION STANDARDS | 68 |
| 5. EARNINGS PER SHARE | 75 |
| 6. GOODWILL | 75 |
| 7. INTANGIBLE ASSETS | 77 |
| 8. PROPERTY, PLANT & EQUIPMENT | 78 |
| 9. NON-CURRENT ASSETS HELD FOR SALE, LIABILITIES LINKED TO NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS | 79 |
| 10. INVESTMENTS VALUED USING THE EQUITY METHOD | 81 |
| 11. NON-CURRENT FINANCIAL INVESTMENTS | 82 |
| 12. INVENTORY | 83 |
| 13. TRADE RECEIVABLES | 84 |
| 14. CASH AND CASH EQUIVALENTS | 84 |
| 15. EQUITY | 85 |
| 16. DEBT IN RESPECT OF BOND ISS UES AND BANK BORROWINGS | 86 |
| 17. OTHER NON-CURRENT LIABILITIES | 90 |
| 18. SHARE-BASED REMUNERATION SCHEMES | 91 |
| 19. PROVISIONS FOR RISKS AND CHARGES | 92 |
| 20. TAX NOTE | 93 |
| 21. TRADE PAYABLES | 98 |
| 22. INFORMATION ON DEFERRED PAYMENTS TO SUPPLIERS. THIRD ADDITIONAL PROVISION. “DUTY TO REPORT” OF ACT 11/2013 OF 26 JULY | 98 |
| 23. OTHER CURRENT LIABILITIES | 98 |
| 24. THIRD-PARTY GUARANTEES AND CONTINGENT ASSETS AND LIABILITIES | 99 |
| 25. INCOME AND EXPENSES | 100 |
| 26. RELATED-PARTY TRANSACTIONS | 103 |
| 27. INFORMATION BY SEGMENTS | 106 |
| 28. REMUNERATION AND OTHER STATEMENTS MADE BY THE BOARD OF DIRECTORS AND SENIOR MANAGEMENT | 107 |
| 29. EVENTS AFTER THE REPORTING PERIOD | 110 |
| 30. INFORMATION ON ENVIRONMENTAL POLICY | 110 |
| 31. EXPOSURE TO RISK | 110 |
| APPENDIX I: SUBSIDIARIES | 112 |
| APPENDIX II: ASSOCIATED COMPANIES | 115 |
| ANNUAL REPORT OF THE AUDIT COMMITTE | 116 |