Letter from the Chairman

Dear Shareholders,

The Esprinet Group ended 2021 with a consolidated net income, including the share attributable to minority interests, of 44.1 million euro, up by 39% on 31.8 million euro in 2020, with sales up 4% to roughly 4.7 billion euro.
Despite a second part of 2021 characterised by a major crisis in the global supply chains of electronic components, also in this year all the main economic and equity indicators have improved and the Group recorded the best ever net profit attributable to shareholders.
In November, the Group presented the market with an ambitious new business plan for the 2022-2024 period which includes multiple initiatives, including the entry into the operating rental market and the start of the expansion programme in other Western European countries, also through targeted acquisitions in the Advanced Solutions segment.
During 2021, the Covid-19 pandemic continued to influence the international macroeconomic scenario; however, thanks to the positive evolution of global vaccination campaigns, there has been a growing feeling of confidence, which has led to a lively recovery in economic growth.
This climate of confidence has been, we hope only temporarily, stalled by the international crisis that exploded in Ukraine, with images of war on the borders of the European Union.
Our Group does not have a direct presence in Eastern European countries and therefore has not observed any significant impacts on its business performance linked to these events.
The composition and geographic diversification of the supplier network, the consistent pipeline of sales initiatives, years of shrewd risk planning management, an extremely solid balance sheet, human resources of the highest quality combined with a long-established network of relationships with customers, suppliers and banking institutions enable us to look to the future with optimism.
The demand for technology continues to be high, supported both by the increasing importance attributed by businesses and households to digitalisation processes and by the highly expansionary fiscal policies implemented by governments thanks to European funds.
As always, the future is mainly in the hands of our associates who, with professionalism, self-sacrifice and a spirit of enterprise, have helped us overcome major difficulties in the past and I am sure they will do the same in the future.
To them, to our customers and suppliers, to our shareholders and to all our stakeholders in general, I extend my heartfelt thanks and best wishes for a healthy, successful and peaceful 2022.

Maurizio Rota
Chairman of the Board of Directors
March 2022