| Summary of Property Plant and Equipment |
The following table presents a breakdown for property, plant and equipment. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (€ thousands) | Land and buildings | | Plant and machinery | | Industrial and commercial equipment | | Leasehold improvements | | Other tangible assets | | Tangible assets under construction and advances | | Total | | Historical cost at January 1, 2024 | 8,581 | | 161,755 | | 162,500 | | 251,565 | | 6,429 | | 5,426 | | 596,256 | | Additions | 8,884 | | 8,482 | | 22,812 | | 47,297 | | 376 | | 11,971 | | 99,822 | | Disposals | — | | (3,876) | | (16,726) | | (12,941) | | (86) | | (21) | | (33,650) | | Business combinations | — | | — | | 109 | | 877 | | — | | 28 | | 1,014 | | Exchange differences | 5 | | (15) | | 4,768 | | 9,587 | | 16 | | 39 | | 14,400 | | Reclassifications | (77) | | 528 | | 1,948 | | (207) | | 375 | | (6,541) | | (3,974) | | Balance at December 31, 2024 | 17,393 | | 166,874 | | 175,411 | | 296,178 | | 7,110 | | 10,902 | | 673,868 | | Additions | 1,100 | | 7,393 | | 19,379 | | 26,355 | | 580 | | 26,698 | | 81,505 | | Disposals | — | | (2,750) | | (5,910) | | (18,565) | | (304) | | (179) | | (27,708) | | Business combinations | — | | — | | 632 | | — | | — | | — | | 632 | | Exchange differences | — | | (36) | | (13,012) | | (26,544) | | (94) | | (689) | | (40,375) | | Reclassifications | (1) | | 931 | | 2,626 | | 9,386 | | 311 | | (12,964) | | 289 | | Balance at December 31, 2025 | 18,492 | | 172,412 | | 179,126 | | 286,810 | | 7,603 | | 23,768 | | 688,211 | | | | | | | | | | | | | | | | Accumulated depreciation at January 1, 2024 | (4,437) | | (134,701) | | (128,912) | | (164,147) | | (4,451) | | — | | (436,648) | | Depreciation | (239) | | (6,756) | | (14,666) | | (31,440) | | (819) | | — | | (53,920) | | Impairment | — | | (108) | | (1,642) | | (1,483) | | — | | — | | (3,233) | | Disposals | — | | 3,845 | | 16,320 | | 12,474 | | 188 | | — | | 32,827 | | Exchange differences | (5) | | 7 | | (4,334) | | (7,781) | | 2 | | — | | (12,111) | | Reclassifications | 98 | | 33 | | (1,672) | | 5,638 | | (74) | | — | | 4,023 | | Balance at December 31, 2024 | (4,583) | | (137,680) | | (134,906) | | (186,739) | | (5,154) | | — | | (469,062) | | Depreciation | (242) | | (7,267) | | (15,646) | | (34,070) | | (446) | | — | | (57,671) | | Impairment | — | | 22 | | (1,312) | | (3,736) | | — | | — | | (5,026) | | Disposals | — | | 2,626 | | 5,326 | | 17,979 | | 290 | | — | | 26,221 | | Exchange differences | — | | 12 | | 10,791 | | 19,001 | | 61 | | — | | 29,865 | | Reclassifications | 2 | | (10) | | (1,364) | | 259 | | (181) | | — | | (1,294) | | Balance at December 31, 2025 | (4,823) | | (142,297) | | (137,111) | | (187,306) | | (5,430) | | — | | (476,967) | | | | | | | | | | | | | | | | Carrying amount at: | | | | | | | | | | | | | | | January 1, 2024 | 4,144 | | 27,054 | | 33,588 | | 87,418 | | 1,978 | | 5,426 | | 159,608 | | December 31, 2024 | 12,810 | | 29,194 | | 40,505 | | 109,439 | | 1,956 | | 10,902 | | 204,806 | | December 31, 2025 | 13,669 | | 30,115 | | 42,015 | | 99,504 | | 2,173 | | 23,768 | | 211,244 |
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| Summary of Impairment Testing in Respect of Property Plant and Equipment |
The following table presents the results of the impairment tests performed over the Group’s DOSs, as well as sensitivity analyses performed to verify whether reasonably possible changes in the main assumptions used to determine the recoverable amount of the DOSs would significantly affect the results of the impairment tests. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Existing assumptions | | Sensitivity effects on impairment | | (€ millions, except percentages and basis points) | Impairment | | WACC (%) | | Revenues CAGR (%) vs. current year | | Growth rate (%) | | WACC
+100 bps | | Revenues
-250 bps | | Growth rate
-50 bps | | Zegna segment DOSs | | | | | | | | | | | | | | | 2025 | (4,129) | | 8.06% / 14.31% | | -7.0% | | 1.50% / 4.00% | | (4,484) | | (4,850) | | (4,186) | | 2024 | (4,150) | | 8.05% / 14.09% | | +6.7% | | 1.00% / 4.00% | | (4,734) | | (5,084) | | (4,262) | | Thom Browne segment DOSs | | | | | | | | | | | | | | | 2025 | (495) | | 10.32% / 14.15% | | +24.5% | | 2.00% / 3.00% | | (605) | | (688) | | (513) | | 2024 | (2,957) | | 10.66% / 13.06% | | +11.1% | | 2.50% / 3.00% | | (3,032) | | (3,614) | | (2,969) | | Tom Ford Fashion segment DOSs | | | | | | | | | | | | | | | 2025 | (10,415) | | 9.52% / 13.66% | | +12.1% | | 2.00% / 3.00% | | (10,654) | | (11,438) | | (10,433) | | 2024 | (4,089) | | 8.45%/13.14% | | +16.9% | | 2.00% / 3.00% | | (4,323) | | (4,620) | | (4,140) |
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