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Trade receivables (Tables)

12 Months Ended

Dec. 31, 2022

Trade and other receivables [abstract]

Summary of Trade Receivables

Trade receivables disaggregated by nature of the relationship with the customers are as follows:


		31/12/22				31/12/21
Third parties			37,203				38,556
Related parties			7,457				8,028
Gross trade receivables			44,660				46,584
Allowance for doubtful accounts			(5,604	)			(5,325	)
Total trade receivables			39,056				41,259

Transactions with related parties are conducted at arm’s length (see note 42).

Trade receivables by geographic region are analysed as follows:


		31/12/22				31/12/21
Italian customers			10,124				10,678
Other European customers			10,761				12,252
North American customers			8,233				7,232
Chinese customers			5,589				7,059
South American customers			5,047				4,956
Other foreign customers			4,906				4,407
Gross trade receivables			44,660				46,584
Provision for doubtful accounts			(5,604	)			(5,325	)
Total trade receivables			39,056				41,259

Summary of Provision for Doubtful Accounts

The following tables provide the movements in the provision for doubtful accounts for the years ended December 31, 2022 and 2021.


		31/12/22				31/12/21
Balance at beginning of year			5,325				7,881
Charges – bad debt expense			330				76
Reductions – write off of uncollectible amounts			(95	)			(2,015	)
Foreign exchange effect			44				—
Reductions – reversal to profit and loss			—				(617	)
Balance at end of year			5,604				5,325

Summary of Carrying Amount of Trade Receivables that have been Transferred but have not been Derecognized and the Associated Liabilities

The following information shows the reporting-date carrying amount of trade receivables that have been transferred but have not been derecognised and the associated liabilities.


		31/12/22				31/12/21
Carrying amount of trade receivables transferred			18,670				29,778
Carrying amount of associated liabilities			(17,307	)			(26,341	)
Total, net			1,363				3,437