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INVESTMENTS AND OTHER FINANCIAL ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2022
Investments and other financial assets [Abstract] |
Disclosure of investments | The composition of investments and other financial assets is as follows:
| At December 31,
| 2022 |  | 2021
| (€ thousand)
Investments accounted for using the equity method | 49,087 |  |  | 42,927 |
Other securities and financial assets | 10,447 |  |  | 11,582 |
Total investments and other financial assets | 59,534 |  |  | 54,509 |
Changes in the carrying amount of investments accounted for using the equity method during the period were as follows:
| (€ thousand)
Balance at January 1, 2021 | 34,663 |
Additions | 1,285 |
Proportionate share of net profit for the year ended December 31, 2021 | 6,896 |
Proportionate share of remeasurement of defined benefit plans | 83 |
Balance at December 31, 2021 | 42,927 |
Proportionate share of net profit for the year ended December 31, 2022 | 6,175 |
Proportionate share of remeasurement of defined benefit plans | (15) |
Balance at December 31, 2022 | 49,087 |
Summarized financial information relating to FFS GmbH at and for the years ended December 31, 2022 and 2021 is presented below:
| At December 31,
| 2022 |  | 2021
| (€ thousand)
Assets |  |  |
Non-current assets | 3,685 |  |  | 4,037 |
Receivables from financing activities | 1,037,350 |  |  | 908,362 |
Other current assets | 2,637 |  |  | 5,096 |
Cash and cash equivalents | 19,123 |  |  | 14,046 |
Total assets | 1,062,795 |  |  | 931,541 |
Equity and liabilities |  |  |
Equity | 94,914 |  |  | 81,156 |
Debt | 868,652 |  |  | 763,563 |
Other liabilities | 99,229 |  |  | 86,822 |
Total equity and liabilities | 1,062,795 |  |  | 931,541 |
| For the year ended December 31,
| 2022 |  | 2021 |  | 2020
| (€ thousand)
Net revenues | 52,100 |  |  | 46,103 |  |  | 37,764 |
Cost of sales | 22,943 |  |  | 16,971 |  |  | 14,864 |
Selling, general and administrative costs | 8,923 |  |  | 8,565 |  |  | 8,494 |
Other expenses/(income), net | 1,116 |  |  | 2,730 |  |  | 1,213 |
Profit before taxes | 19,118 |  |  | 17,837 |  |  | 13,193 |
Income tax expense | 5,336 |  |  | 4,045 |  |  | 3,898 |
Net profit | 13,782 |  |  | 13,792 |  |  | 9,295 |

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