Since 2013, we have undertaken a path to ensure economic sustainability for the Group in the years ahead, despite the uncertainties of the markets in which we operate.

The strategic guidelines of this journey are based on stringent control of the accounts, a focus on our traditional lines of business – books and magazines – and on investments that may further develop them.

The main transactions of 2015 should be viewed in this light, particularly with regard to the acquisition of Rizzoli Libri S.p.A. and Banzai Media Holding, aimed at strengthening our presence in book and digital publishing, respectively.

Investments that will enable Mondadori to grow in terms of size – not only in Italy – will continue over the medium term.