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Statement of changes in Shareholders’ Equity

(in Euro)Share capitalIFRS initial conversion reserve (exc. OCI)Other Eq. Investments ReserveCash Flow Hedge ReserveActuarial gains/(loss.) reserve Extraordinary reserveLegal reserveOther reservesTotal reservesNet profitTotal Shareholders' Equity
Balance at January 1, 2017 27,500,000 14,813,951 1 (6,803,722) (1,257,343) 138,792,048 5,500,000 60,288,176 211,333,111 87,856,117 326,689,228
Transactions with shareholders                      
Allocation of 2016 net profit & distrib. of dividends           17,556,117     17,556,117 (87,856,117) (70,300,000)
Other movements                      
Other comprehensive income statement items result       1,850,543 42,559       1,893,102   1,893,102
Net profit                   76,945,175 76,945,175
Balance at December 31, 2017 27,500,000 14,813,951 1 (4,953,179) (1,214,784) 156,348,165 5,500,000 60,288,176 230,782,330 76,945,175 335,227,505
Transactions with shareholders                      
Allocation of 2017 net profit & distrib. of dividends           6,645,175     6,645,175 (76,945,175) (70,300,000)
Other movements                      
Other comprehensive income statement items result       1,338,311 835,308       2,173,619   2,173,619
Impact of application of IFRS 9 (*)       (720)   720          
Net Profit                   123,489,400 123,489,400
Balance at December 31, 2018 27,500,000 14,813,951 1 (3,615,588) (379,476) 162,994,060 5,500,000 60,288,176 239,601,124 123,489,400 390,590,524

(*) Effect deriving from the application of the amendments to IFRS 9 - “Financial Instruments” in which the change in the time value in 2017, equal to Euro 720, recorded in the measurement of the contracts deriving from the cash flow hedge model, is recognised directly to Net Equity (Cash flow hedge reserve) for a similar amount.