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Page 1: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 2: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 3: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 4: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 5: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 6: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 7: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 8: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 9: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 10: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 11: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 12: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 13: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 14: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 15: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 16: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 17: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 18: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 19: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 20: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 21: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 22: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 23: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 24: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 25: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 26: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 27: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 28: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 29: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 30: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 31: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 32: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 33: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 34: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 35: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 36: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 37: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 38: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 39: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 40: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 41: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 42: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 43: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 44: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company
Page 45: stivalagroup.comstivalagroup.com/wp-content/uploads/2019/04/SGF-FS-31.12.18.pdf · €2,825,247 is derived from dividends receivable from its subsidiary. The major cost of the company