TOD'S S.p.A. / Estimates

Fiscal Year	Revenue	Net income	Net margin	Free cash flow	FCF margin
2023	€1.14B +13.7%	€50.02M +116.9%	4.4% +0.021 pp	€188.76M +7.8%	16.5% -0.0091 pp
2022	€1.01B +13.9%	€23.07M -488.4%	2.3% +0.030 pp	€175.18M -28.1%	17.4% -0.10 pp
2021	€883.81M +38.7%	-€5.94M -91.9%	-0.7% +0.11 pp	€243.73M +768.0%	27.6% +0.23 pp
2020	€637.11M -30.4%	-€73.19M -258.1%	-11.5% -0.17 pp	€28.08M -80.9%	4.4% -0.12 pp
2019	€915.98M -2.6%	€46.28M -1.8%	5.1% +0.00040 pp	€147.22M +121.2%	16.1% +0.090 pp
2018	€940.50M -2.4%	€47.15M -33.6%	5.0% -0.024 pp	€66.55M -63.8%	7.1% -0.12 pp
2017	€963.29M -4.1%	€71.01M -17.7%	7.4% -0.012 pp	€184.06M +0.1%	19.1% +0.0079 pp
2016	€1.00B -3.2%	€86.29M -6.9%	8.6% -0.0035 pp	€183.87M +17.8%	18.3% +0.033 pp
2015	€1.04B +7.4%	€92.74M -4.5%	8.9% -0.011 pp	€156.03M +1.7%	15.0% -0.0085 pp
2014	€965.53M -0.2%	€97.11M -27.4%	10.1% -0.038 pp	€153.50M -40.2%	15.9% -0.11 pp
2013	€967.49M +0.5%	€133.78M -8.0%	13.8% -0.013 pp	€256.51M +68.7%	26.5% +0.11 pp
2012	€963.13M +5.9%	€145.46M +7.2%	15.1% +0.0019 pp	€152.01M -19.3%	15.8% -0.049 pp
2011	€909.63M +12.8%	€135.69M +22.5%	14.9% +0.012 pp	€188.44M -5.0%	20.7% -0.039 pp
2010	€806.36M +13.1%	€110.79M +28.6%	13.7% +0.017 pp	€198.40M +13.4%	24.6% +0.00080 pp
2009	€713.14M +0.8%	€86.14M +1.8%	12.1% +0.0012 pp	€174.89M +34.6%	24.5% +0.062 pp
2008	€707.55M +7.7%	€84.59M +7.4%	12.0% -0.00026 pp	€129.95M +23.8%	18.4% +0.024 pp
2007	€657.09M +14.7%	€78.73M +17.8%	12.0% +0.0032 pp	€104.97M +36.6%	16.0% +0.026 pp
2006	€573.01M +13.9%	€66.82M +24.0%	11.7% +0.0095 pp	€76.87M -20.4%	13.4% -0.058 pp
2005	€503.04M +12.0%	€53.87M +76.0%	10.7% +0.039 pp	€96.58M +6.8%	19.2% -0.0094 pp
2004	€448.99M +16.4%	€30.62M +18.9%	6.8% +0.0014 pp	€90.41M -0.2%	20.1% -0.034 pp
2003	€385.68M	€25.76M	6.7%	€90.61M	23.5%