‐ Consolidated Income Statement at 31st December 2010 €uro/000 31/12/09
31/12/10 Change (%)
113,895
116,263 2.1
7,764
11,381 46.6
121,659
127,644 4.9
(108,562)
(120,105) 10.6
13,097
7,539 (42.4)
10.8
5.91 (9,498)
(9,749) 2.6
3,599
(2,210) note below
3.0
(1.73) Net financial income and charges
(338)
(713) 110.9
Pre‐tax profits
3,261
(2,923) note below
(1,804)
1,187 note below
(849)
(141) (83.4)
608
(1,877) note below
Sales revenues
Other revenues and income
Total revenues
Operating costs
Gross profit
% of revenues
Amortisation and depreciation
Operating result
% of revenues
Taxes
Minority profit/(loss)
Net group profit
‐ Revenues are broken down as follows €uro/000
31/12/09
31/12/10 Change (%)
Newsstand sales
10,428
10,103 (3.1)
Subscription revenues
48,677
47,909 (1.6)
Advertising revenues
53,277
55,793 4.7
Other revenues
8,779
13,314 51.7
Total revenues
121,161
127,119 4.9
498
525 5.4
121,659
127,644 4.9
Contributions for operating expenses
Total
1
‐ Consolidated balance sheet at 31st December 2010 ASSETS 31st December 2009 31st December 2010
Intangible fixed assets with an indefinite life
54,360 55,141
Other intangible fixed assets
15,952 18,893
Intangible fixed assets
70,312 74,034
Tangible fixed assets
6,678 6,802
Equity investments
2,890 3,380
Other equity investments
1,079 1,079
‐ ‐
2,535 3,085
83,494 88,380
3,661 4,004
74,884 81,003
‐ ‐
Financial receivables
8,474 7,458
Tax receivables
7,381 10,818
Other receivables
8,893 22,197
Cash and cash equivalents
6,294 5,989
CURRENT ASSETS
109,587 131,469
TOTAL ASSETS
193,081 219,849
€uro/000
Financial receivables
Other receivables
NON‐CURRENT ASSETS
Inventory
Trade receivables
Securities
2
LIABILITIES AND SHAREHOLDERSʹ EQUITY 31st December 2009
31st December 2010
Share capital
10,287
10,417
Share premium account
29,230
30,039
Legal reserve
2,544
2,544
Other reserves
29,020
28,534
608
(1,877)
71,689
69,657
8,668
9,311
849
141
9,517
9,452
81,206
79,109
Financial payables
2,083
1,521
Provisions for risks and charges
1,140
933
Severance fund and other employee funds
4,786
5,206
NON‐CURRENT LIABILITIES
8,009
7,660
Financial payables
35,107
55,773
Trade payables
33,505
42,846
5,088
6,563
30,166
27,898
CURRENT LIABILITIES
103,866
133,080
TOTAL LIABILITIES
111,875
140,740
LIABILITIES AND SHAREHOLDERSʹ EQUITY
193,081
219,849
€uro/000 Profit (loss) for the year
Group shareholders’ equity
Minority capital and reserves
Minority profit (loss)
Minority shareholders’ equity
SHAREHOLDERSʹ EQUITY
Tax payables
Other payables
‐ The consolidated net financial position is shown in the table below €uro/000 31/12/2009
31/12/2010
Changes 2010/2009
‐‐
‐‐
Cash and cash equivalents
6,294
5,989
(305) (4.8)
Short‐term financial receivables
8,474
7,458
(1,016) (12.0)
Long‐term financial payables
(2,083)
(1,521)
562 26.9
Short‐term financial payables
(35,107)
(55,773)
(20,666) (58.8)
Securities
Change %
3
‐ Income Statement of the parent company at 31st December 2010 INCOME STATEMENT
REVENUES
31/12/2009
31/12/2010
Revenues
28,674,529
Other operating revenues
28,272,237
17,908,307
TOTAL REVENUES
20,377,467
46,582,836
48,649,704
2,039,793
2,388,852
35,974,219
39,648,480
Costs for personnel
1,744,276
2,216,650
Other operating costs
3,911,200
4,380,868
Gross operating profit ‐ Ebitda
2,913,348
14,854
Amortisation, depreciation and write‐downs
1,241,340
1,328,004
Operating result ‐ Ebit
1,672,008
(1,313,150)
24,718
(31,028)
1,696,726
(1,344,178)
(415,323
867,572
1,281,403
(476,606)
Costs for purchases
Costs for services
Net financial income (charges)
Pre‐tax profit (loss)
Taxes
NET RESULT
Balance sheet of the parent company ASSETS
NON‐CURRENT ASSETS
31/12/2009
31/12/2010
Intangible fixed assets with an indefinite life
2,872,464
2,872,464
Other intangible fixed assets
1,557,897
1,768,994
Total intangible fixed assets
4,430,360
4,641,458
Tangible fixed assets
Equity investments
1,510,939
1,991,058
35,416,782
39,338,935
Financial receivables
1,718,949
1,399,499
Other receivables
2,389,208
2,889,208
TOTAL NON‐CURRENT ASSETS
CURRENT ASSETS
Inventory
45,466,239
50,260,158
362,612
469,503
Trade receivables
90,731,540
87,644,086
Financial receivables
22,241,130
20,138,673
Tax receivables
2,287,973
4,154,548
Other receivables
3,689,152
13,814,689
Cash and cash equivalents
207,774
218,189
TOTAL CURRENT ASSETS
119,520,181
126,439,688
TOTAL ASSETS
164,986,420
176,699,846
4
SHAREHOLDERS’ EQUITY & LIABILITIES
SHAREHOLDERSʹ EQUITY
31/12/2009
31/12/2010
Share Capital
10,286,563 10,417,313
Share premium reserve
29,230,564
30,038,322
Legal reserve
2,543,881 2,543,881
Other reserves
31,798,040 32,053,033
1,281,403 (476,606)
75,140,451
74,575,943
Net profit (loss) for the year
TOTAL SHAREHOLDERS’ EQUITY
NON‐CURRENT LIABILITIES
Financial payables
120,934 99,232
Provision for risks and charges
382,800 382,800
Severance fund and other employee funds
298,312 294,078
TOTAL NON‐CURRENT LIABILITIES
CURRENT LIABILITIES
802.046
776,110
Financial payables
35,260,587 56,698,725
Trade payables
46,601,425 36,696,839
507,858 1,083,577
6,674,053 6,.868,652
TOTAL CURRENT LIABILITIES
89,043,923 101,347,793
TOTAL LIABILITIES
89,845,969 102,123,905
164,986,420 176,699,846
Tax payables
Other payables
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
5