In order to improve and simplify business processes during 2021, the Group revised its organisational structure, causing a change in the organisation of segments and, therefore, eliminating the Property segment as it was not significant., In this way, operational segments are not aggregated as reporting segments.
The Management Committee is the body responsible for making decisions on the Group’s segments. The Management Committee monitors operational results on the basis of three geographical regions in order to make decisions on the allotment of resources and performance assessments.
Each one of the geographical regions is led by its own Managing Director, who reports to the Management Committee.
The way of managing the three geographical regions coming under corporate services, defines the Group’s geographical segments:
– BUSE (Southern Europe): includes Italy, Spain, Portugal, France, Andorra, Tunisia and the USA. Within the segment, the information used for Management to manage it is presented separating Italy form the other countries.
– BUNE: within the segment, management information is grouped between Central Europe (which includes: Germany, Austria, Czech Republic,
Hungary, Poland, Romania, Slovakia and Switzerland) and Benelux (which includes: Holland, Belgium, Luxembourg, Ireland and the United Kingdom).
– BUAM (Latin America, which includes: Argentina, Brazil, Chile, Colombia, Cuba, Ecuador, Haiti, Mexico and Uruguay).
The following table shows the breakdown of certain balances on the Group’s consolidated income statement.