3. Tod’s group story
• Established in early 1900s
• ‘70s developed from family enterprise to
industrial company by keeping craftmanship
of the products
• Over the years it has become a company that
makes exclusive products
4. Group’s vision
The brands of the group, all with their personal
identity, are linked by the same philosophy:
• Mix of traditon and modernity
• High quality
• Creativity
• Functionality
7. Mandatory disclosure:
Consolidate financial statement
• Prepared in accordance with IAS-IFRS issued by ISB
and supplemented by the additional information required by
CONSOB.
article 9 of legislative decree, article 78 of the issuer regulation
• The consolidated financial statement were approved by
the board of directors of TOD’S S.P.A.
On march 14°2011
2 assumptions:
IAS 1,par 25
Principle of continuity
Historic costs
9. Main events of 2010
• Operation made through the aquisition of the entire
share capital of HOLPAF B.V.(party transaction)
• In financial terms, the impact on the group’s
cash position was about 22.7 million
• The overall net financial position was about 63.0 million
Mainly reflected the two bonds issued in 2006
by HOLPAF B.V.
• Purchase of Omotesando building(Tokio)
10. Main events of 2010
Payment of dividends (153 milion)
Ordinary dividend
45.9 million
Extraordinary dividend
107.1 million
11. Highlights of accounting principles adopted by
Tod’s group
• SUBSIDIARIES include all entities in which the TOD’S Group has
direct or indirect control over the financial and operating policies of
an entity in order to obtain benefits from its activity IAS 27
• INTANGIBLE ASSETS
o Goodwill represents the portion of the cost paid for the acquisition
that exceeds the Group’s interest in the fair value of the assets
liabilities, and identifiable potential liabilities of the subsidiary or
jointly controlled entity at the acquisition date IAS 36
o Depreciation Property, plant, and equipment were systematically
depreciated at a steady rate according to the depreciation schedules
defined on the basis of their estimated useful life. Land is not
depreciated.
• TANGIBLE ASSETS
12. Highlights of results
Financial year 2010 ended on a high note in term of revenues, profit
margins and profitability.
Sales and financial figures have confirmed that consumers appreciate
the high quality product offered by the group’s brand
14. Voluntary disclosure
Legislative Decree June 8, 2001, no. 231 (Administrative liability of legal
entities, companies and association)
The administrative responsibility of companies in relation to a range of
predefined criminal offences committed by persons within the company
the liability arises not only on the head of the individual and actual
perpetrator of the offence, but for legal entities as well
The control system, as set forth by the norm, is optional and not
compulsory
Role of the “exemption” clause
15. The code of conduct
In order to achieve its objectives Tod’s Group believes in, accepts and
complies the following ethical principles:
• compliance with laws and regulations and compliance with the
strictest rules of behavior
• equality fairness in the treatment of employees, collaborators and
customers
• transparency and reliability
• honesty, fairness and good faith
• confidentiality
• value of the person and of human resources
16. The code of conduct
In the code of conduct the Group commits itself to provide adequate
and complete supporting documentations of its activities.
Importance of accounting activity have to meet the
requirements of:
• truth
• completeness
• transparency
for each operation recorded
17. Social responsibility
TOD’S S.p.A. is financing the restoration works on
the Colosseum as sole and exclusive sponsor
The sponsorship campaign is the biggest to rescue
Italy's archaeological treasures with private money
(an investment of 25 million of euro)
I won't put Tod's shoes
on the Colosseum“
Della Valle said.
18. The system of government and control
Internal
control
Indipendent
direct
committee
Shareholder’s
meeting
Board of
directors
The Board of
Statutory
Auditors
Executive
Committee
LATIN MODEL
Internal control
Corporate Governance
Committee
Remuneration
Committee
Indipendent
direct
committee
Shareholder’s
meeting
Board of
directors
The Board of
Statutory
Auditors
Executive
Committee.
19.
20. The system of government and control
• The internal control system: Its main function is to ensure that
the administrative and accounting procedures prepared
guarantee the reasonable credibility of the financial
information and the organization's ability to produce timely
and reliable accounting and financial information, in
compliance with the reference accounting standards (IAS/IFRS)
• The external control system: TOD’S Group decided to charge
Deloitte & Touche S.p.A to audit TOD’S S.p.A. and its other
subsidiaries
21. Conclusion
Winning keys of the Group:
• High value-added products
• Excellent positioning in the fastest-
growing economies (especially
China)
• High quality of the information
disclosed
Indirect method: is the net cash flow from operating determined by adjusting profit or losss for the effects of:Changes in inventoriesNon-cash items as depreciation
Questa slide guardatela in presentazione
CONTROLLARE INTANGIBLE ASSET: GOODWILL IAS 36= impairment of assetDepreciation is the systematic allocation of the depreciable amount of an asset over its useful life IAS 16
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L’ultimo punto è corretto??? Of recorded data che senso ha?????