Balance Sheet
| (Euro/millions) | 31-Dec-18[1] | 31-Dec-17[1] | 31-Dec-16 | 31-Dec-15 | 31-Dec-14 | 31-Dec-13 |
|---|---|---|---|---|---|---|
| Trade receivables | 219.0 | 254.1 | 298.7 | 242.1 | 259.3 | 312.4 |
| Inventory | 122.3 | 120.8 | 143.4 | 108.2 | 108.4 | 124.0 |
| Trade payables | (333.4) | (368.0) | (415.0) | (349.6) | (343.4) | (3,807.0) |
| Other assets (liabilities) | 46.1 | 46.4 | (14.6) | (31.7) | (14.9) | 0.6 |
| Net working capital | 54.1 | 53.3 | 12.5 | (30.9) | 9.4 | 56.2 |
| Intangible assets | 226.7 | 224.5 | 612.2 | 552.3 | 553.7 | 617.5 |
| Tangible assets | 19.1 | 23.1 | 33.3 | 31.2 | 32.4 | 43.9 |
| Investments | 32.2 | 37.6 | 43.0 | 44.9 | 39.5 | 38.6 |
| Fixed invested capital | 278.2 | 285.2 | 688.5 | 628.5 | 625.6 | 700.0 |
| Provisions & severance indemnities | (103.3) | (101.7) | (119.6) | (102.7) | (110.7) | (134.3) |
| Assets/ (liabilities) of discontinued operations | 89.1 | 297.7 | – | – | 56.6 | – |
| Net invested capital | 317.9 | 534.6 | 581.4 | 495.0 | 580.9 | 621.9 |
| Share capital | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 64.1 |
| Reserves and minority shareholders’ equity | 279.8 | 246.9 | 227.3 | 221.2 | 220.5 | 380.0 |
| Net result | (177.1) | 30.4 | 22.5 | 6.4 | 0.6 | (185.4) |
| Shareholders’ equity | 170.7 | 345.3 | 317.8 | 295.5 | 289.1 | 258.7 |
| Net financial position | 147.2 | 189.2 | 263.6 | 199.4 | 291.8 | 363.2 |
| Net invested capital | 317.9 | 534.6 | 581.4 | 494.9 | 580.9 | 621.9 |
[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing
| Balance sheet (Euro/millions) | 1H19[1] | 1Q19[1] | 2018[1] | 9M18[1] | 1H18[1] | 1Q18[1] | 2017[1] | 9M17[1] | 1H17 | 1Q17 | 2016 | 9M16 | 1H16 | 1Q16 | 2015 | 9M15 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade receivables | 223.1 | 187.3 | 219.0 | 259.9 | 227.9 | 204.1 | 254.1 | 289.7 | 268.8 | 247.4 | 298.7 | 342.7 | 313.6 | 241.9 | 242.1 | 255.8 |
| Inventory | 134.6 | 134.7 | 122.3 | 132.7 | 140.7 | 131.5 | 120.8 | 137.6 | 160.5 | 151.4 | 143.4 | 165.9 | 184.3 | 108.5 | 108.2 | 110.2 |
| Trade payables | (319.3) | (291.4) | (333.4) | (354.2) | (340.0) | (320.3) | (368.0) | (377.1) | (407.9) | (378.6) | (415.0) | (441.2) | (435.5) | (336.1) | (349.6) | (359.5) |
| Other assets/(liabilities) | 62.1 | 42.9 | 46.1 | 64.9 | 67.3 | 52.4 | 46.4 | 62.1 | 24.3 | 3.7 | (14.6) | 7.5 | 18.1 | (24.3) | (31.7) | (2.0) |
| Net working capital | 100.5 | 73.5 | 54.1 | 103.3 | 95.9 | 67.7 | 53.3 | 112.3 | 45.7 | 23.9 | 12.5 | 74.9 | 80.5 | (10.0) | 30.9 | 4.5 |
| Intangible assets | 225.8 | 227.6 | 226.7 | 224.3 | 226.2 | 228.1 | 224.5 | 225.7 | 602.3 | 611.8 | 612.2 | 599.9 | 604.3 | 550.9 | 552.3 | 556.6 |
| Tangible assets | 17.6 | 18.2 | 19.1 | 21.8 | 25.1 | 22.2 | 23.1 | 23.4 | 28.7 | 31.7 | 33.3 | 34.0 | 35.3 | 30.2 | 31.2 | 30.4 |
| Tangible assets IFRS16 | 101.1 | 107.0 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Investments | 30.0 | 31.4 | 32.3 | 36.5 | 36.3 | 36.9 | 37.6 | 40.9 | 41,6 | 42,5 | 43,0 | 44,7 | 44,5 | 44,0 | 44,9 | 43,6 |
| Fixed invested capital | 374.5 | 384.3 | 278.2 | 282.7 | 284.6 | 287.3 | 285.2 | 289.9 | 672.5 | 686.0 | 300.1 | 678.6 | 684.2 | 625.2 | 628.5 | 630.6 |
| Provisions & severance indemnities | (91.7) | (98.9) | (103.3) | (107.5) | (103.6) | (100.9) | (101.7) | (102.0) | (111.0) | (114.6) | (119.6) | (125.5) | (117.8) | (97.4) | (102.7) | (106.5) |
| Assets/(liabilities) of discontinued operations | 93.5 | 94.2 | 89.1 | 94.8 | 296.4 | 299.8 | 297.7 | 301.2 | – | – | – | 10.9 | 19.1 | – | – | – |
| Net invested capital | 476.8 | 455.1 | 317.9 | 373.2 | 573.3 | 553.9 | 534.6 | 601.5 | 607.2 | 595.4 | 581.4 | 638.8 | 666.0 | 517.8 | 495.0 | 528.6 |
| Share capital | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 | 68.0 |
| Reserves and minority shareholders’ equity | 74.6 | 74.8 | 251.1 | 277.4 | 248.8 | 247.4 | 246.9 | 246.2 | 250.4 | 250.4 | 227.3 | 223.9 | 227.0 | 226.7 | 221.1 | 219.8 |
| Net result | (1.9) | (3.5) | (177.1) | (181.5) | (12.5) | (13.6) | 30.4 | 31.2 | 4.4 | (9.2) | 22.5 | 117.0 | (3.8) | (1.8) | 6.4 | (2.8) |
| Third-party capital and reserves (relating to discontinued operations) | 29.9 | 29.3 | 28.7 | 28.2 | 30.6 | 30.2 | – | – | – | – | – | – | – | – | – | – |
| Shareholders’ equity | 170.6 | 168.6 | 170.7 | 163.9 | 334.9 | 332.0 | 345.3 | 345.5 | 322.9 | 309.2 | 317.8 | 309.8 | 291.2 | 292.8 | 295.5 | 285.0 |
| Net financial position | 204.2 | 179.3 | 147.2 | 209.3 | 238.4 | 221.9 | 189.2 | 256.0 | 284.4 | 286.2 | 263.6 | 329.0 | 374.8 | 224.9 | 199.4 | 243.6 |
| Net financial position IFRS16 | 102.0 | 107.1 | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Net invested capital | 476.8 | 455.0 | 317.9 | 373.2 | 573.3 | 553.9 | 534.6 | 601.5 | 607.2 | 595.4 | 581.4 | 638.8 | 666.0 | 517.8 | 494.9 |
[1] Data presented in accordance with IFRS5, with Mondadori France discontinuing