Month: May 2019

Italians vote: here are the new recipes from McDonald’s and GialloZafferano

From a meeting between one of McDonald’s most celebrated sandwiches and the experience GialloZafferano welcome to McChicken Variation, a line of chicken burgers with a typically Italian taste

In the new recipes: 100% Italian chicken breast and 145 toes of locally sourced raw materials McChicken Delicato is the first choice for thousands of Italians online

From McDonald’s the new McChicken Variation, a burger made with 100% Italian chicken breast and the result of a meeting between the experience of GialloZafferano in Italian cooking and the unmistakable touch of McDonald’s. The new McChicken Variation will be available at McDonald’s restaurants from 12 June.

The new recipes have been created by chefs from GialloZafferano and McDonald’s, an authentic co-creation. In fact, the selection of the new burgers involved the online communities online of GialloZafferano and McDonald’s who, for the first time in Italy were asked to choose new flavours to enhance the McChicken range, voting on two recipes based on Italian products. With a total of around 200,000 online votes in two weeks, the McChicken Delicato recipe received the majority of votes and, along with the McChicken Saporito, gain the right to be included on the McDonald’s menu.

In addition to the classic McChicken, one of the most iconic and best loved burgers, it will be possible to find the two new recipes in all of McDonald’s 600 recipes: McChicken Delicato, with Provolone Valpadana DOP, grilled courgettes and sun-dried tomato sauce from Puglia; and McChicken Saporito, with Toma made with 100% Italian milk, crispy bacon, tomato and mayonnaise with grain mustard. Both of the new burgers use only 100% Italian chicken breast.

We are excited to announce this important collaboration with GialloZafferano, the most loved web site by Italians in the kitchen, which has enabled us to create new recipes and experiment with new ingredients. Also, for the first time, we have asked Italians to vote by choosing their favourite recipe,” said Mario Federico, chief executive of McDonald’s Italy.

“It is an honour and a challenge for us to sign, as GialloZafferano, two new burgers by McDonald’s, with an Italian taste and featuring a combination of selected ingredients from around the country. I am sure that customers will like them because, for the first time, while we proposed them some 200,000 people selected them as their favourites in a vote. And, like all of the recipes that come from the kitchens of GialloZafferano, people will also be able to prepare them in their own kitchens a home an reproduce an real McDonald’s burger,” declared Andrea Santagata, Chief Innovation Officer of the Mondadori Group.

A collaboration based on important common values: constant attention to consumer tastes, a passion for high quality ingredients and a propensity for innovation.

With these new products come alongside an increase in investments by McDonald’s in the Italian food sector thanks to an additional  145 tons of raw materials bought from local suppliers for the new McChicken Variation. In fact, the new recipes will use around 42 tons of Toma made from 100% Italian milk, 36 tons of Provolone Valpadana DOP, 58 tons of grilled courgettes and 11 tons of sun-dried tomatoes from Puglia.

Moreover, thanks to the video-recipes available online from GialloZafferano, McChicken Variation can also be made at home.

“Focus Live”: three special stages for the new edition of the popular science organized by Focus

What will the world be like in 10 years? “How do we want to live in 2029?” This is the key topic of the latest edition of Focus Live, the festival of popular science of the monthly magazine Focus, which on 1 and 2 June will start from Genoa on an extraordinary journey across the most fascinating and decisive issues facing the future of humanity and the planet, before moving on to other stages in Trento in October and Milan in November.

For two days the Porto Antico, Genoa’s old port district, will become a large stage for the Italian scientific community, along with guests of international standing. conferences, interactive installations and much more. The main stage and speakers’ corner at the Magazzini del Cotone will be the location for conferences, shows and  talk shows; while the Città dei bambini e dei ragazzi and Porta Siberia will be the places for labs, for young and old, in collaboration with the Festival of Science Association; then, Piazzale Mandraccio will be where the most spectacular attractions will be concentrated, with drones on the hunt for plastic in the sea, an authentic fleet of marine robots with an underwater laboratory able to reach a depth of 5,000 metres, dives by specialist freedivers, and much more. And, finally, the foyer of the Centro Congressi, where, between immersive experiences and virtual reality, visitors can enjoy the excitement of living like scientists in direct contact with the most amazing installations.

Among the many protagonists of the first stage of Focus Live in Genoa, which will be officially opened on Saturday 1 June at 10 am by the Governor of Liguria Giovanni Toti, will be Alberto Cappato, General Manager of the Porto Antico, Michele Lanzinger Director of the Science Museum of Trento and Fiorenzo Galli, Director of the Museum of Science and Technology in Milan; in fact both the MUSE in Trento and MUST in Milan are partners of the whole tour.

The Genoa event will welcome over 100 guests from the universities, laboratories and research institutes where the future of the planet’s scientific progress is developed, but that’s not. Also joining them will be the astronaut Umberto Guidoni for a “journey into a black hole”, in the company of the Italian researchers from the international team that for the first time photographed the most mysterious objects in the cosmos; the astronaut Maurizio Cheli will talk about how he climbed Everest, the comedian Saverio Raimondo with his “semi-comic show on the environment” will make us reflect on our limits, and the plant neurobiologist Stefano Mancuso will explain how plants can help us to save the earth and humanity. And, along with them, many others.

As in the style of Focus, science takes shape in curious and fascinating ways. So, for example, you can take a “stroll” on Mars with a 3D headset without gravity, or take part in an amusing “trial” against homo sapiens to understand whether man deserves to dominate the earth, observe the wonders of the human mind in an amazing two-voice show, but also “play” with genetics to see how much we have in common with chimpanzees and the plants that surround us, or experience the sensation of surviving a flood, designing a drone to powering a “pedal cinema”, transforming physical exercise into energy. And there will also be space for science  “at the table”, with three chefs, two experts in nutrition and a challenge: to create a refined but sustainable meal with just €1.

And, above all, we will discuss the climate; the technologies to reduce environmental risks and the relationship between humans and the planet’s other “inhabitants”. But there will also be debates about genetics, artificial intelligence, migration, space travel, robots and much more. A great festival of science open to all, where adults and children will be amazed by installations and scientific experiments, and take part in interactive laboratories and get their hands on the most advanced technologies.

Last year, at the only stage held in Milan at the Leonardo da Vinci Museum of Science and Technology, , Focus Live attracted over 15,000 visitors (of which, over 1,800 students), with 117 labs for kids and adults, 182 speakers, and 44 interactive and multimedia installations. The aim. also for this year, is to offer an answer to the biggest of questions: will we be able to deal with the emergencies facing our planet? The largest of which are climate and the environment, demographics and migration, and the fourth industrial revolution.

For tickets and a full programme for the first stage in Genoa, please go to www.focuslive.it

The entire tour will be accompanied by a charity partnership with the Lega del Filo d’oro which supports deaf-blind and psychosensory disabled people.

Focus Live is made possible by the Patronage of: Agenzia spaziale Italiana ASI, Agenziale Spaziale Europea ESA, Consiglio Nazionale delle Ricerche CNR, Istituto Italiano di Tecnologia IIT, Enea, Inaf, Mars Planet

 

The organisation of Focus Live is made possible thanks to the support of:

Main Partner: abmedica, Essilor and Ibm
Partner: Università Telematica Pegaso
Supporter: Costa Crociere
Media Partner: Focus tv and meteo.it
Official radio is Radio Monte Carlo
The event in Genoa has been organised in collaboration with Porto Antico di Genova, La città dei bambini e dei ragazzi and l’Associazione Festival della Scienza.

Starbene and Mypersonaltrainer launch the first edition of Milano Wellness Weekend: three day dedicated to the wellbeing of the whole family

From 31 May to 2 June free medical advice, encounters with special guests, yoga lessons, a mindfulness corner and kids area

Segrate, 27 May 2019 – Starbene and Mypersonaltrainer, the Mondadori Group brands that are points of reference in the world of wellness, are launch the first edition of Milano Wellness Weekend, a three-day event featuring free medical advice, encounters with exceptional guests and yoga training, aimed at all-round wellbeing for the whole family.

Prevention, a healthy diet, beauty and physical exercise will be the protagonists of this initiative, which is also supported by the City of Milan and open to the public and which will take place from 31 May to 2 June at the Fondazione Riccardo Catella, a body that since 2007 has promoted a culture of sustainability in urban development through projects to enhance public spaces and green areas.

The project is the result of the success of other initiatives dedicated to wellness organised by Starbene in Milan and Salerno, with over 4,000 visitors, and that this year will be enriched by the collaboration of Mypersonaltrainer.

The philosophy of healthy living and taking care of oneself as a lifestyle choice is the main guideline for the event, in line with the mission that the two Mondadori Group brands pursue every day, reaching an overall audience of 13 million users.

The main focus of the Milano Wellness Weekend will be the Wellbeing of the Senses, featuring experiential paths, medical advice and fitness, in collaboration with partner companies such as: Gruppo Ospedaliero San Donato, Perfetti Van Melle, Scholl, the Croatian Tourist Board, Incarose, Citrus l’Orto Italiano, Compagnia Italiana Sali, Deisa Ebano, YogaEssential, Voden, Ad Pharm, Orthesys and Tatadok.

Programme

With activities organised from 2 pm until 7 pm on the Friday, and from 10 am until 7 pm on the Saturday and Sunday, the programme will feature:

  • Free medical advice: where it will be possible to book a free appointment on the Starbene and MyPersonalTrainer site with a doctor from the Gruppo Ospedaliero San Donato, Italy’s leading healthcare group with 18 hospitals in the Lombardy and Emilia Romagna regions. Available for consultations will be a nutritionist, a dermatologist, a gastroenterologist, a gynaecologist, a cardiologist and neurologist.
  • Talks: conducted by experts from the editorial teams of the two brands dedicated to the importance of prevention and healthy lifestyles, with special guests including Paolo Veronesi, director of the surgical oncology division at the IEO Istituto Europeo di Oncologia; Johanna Maggy, pilates instructor and holistic coach; Mara Navarria, world champion fencer, along with Alessandro Vergendo, human resources facilitator; Attilio Speciani, a specialist in clinical allergology and immunology; Nicola Sorrentino, specialist in food science and dietetics; Terenzio Traisci, a good mood psychologist; Pier Mario Biava, doctor and researcher of the Multimedica Institute of hospitalization and care; Anna Seddone, creator of the Full-Breathing method, instructor at the Apnea Academy and former member of the Italian freediving team and Joanna Hakimova, founder of Natural BioLifting, biologist, and a specialist in bioesthetics and natural medicine.
  • Wellbeing: an experiential path associated with the five senses. Starting with hearing with a mindfulness corner, with exercises associated with listening to music with soothing and relaxing effects and guided meditation lessons; sight involving a fundus test and for taste a sensorial experience; for touch it will be possible to have a skin hydration test and get beauty tips for the skin; finally for smell, a phyto-aromatic test will demonstrate how the anti-inflammatory properties of essential oils can offer a valid response in the treatment of allergies.
  • Fitness and prevention: functional training for the wellbeing of the entire sensory sphere, such as yoga classes, in collaboration with YogaEssential Milan and yoga teacher Martina Sergi, accompanied by a prevention corner with postural analysis and a biometric assessment of weight, blood pressure, fat and lean mass and heart rate.
  • Kids Area: activities and labs for younger visitors and a corner dedicated to diet, in collaboration with Gruppo Ospedaliero San Donato.

An advertising campaign in support of the  Milano Wellness Weekend initiative has been developed by Wavemaker Content (the WM team that oversees the conception, creation and management of cross-channel content) across a range of media: newspapers; the magazines of the Mondadori Group; radio, with commercial on Radio Italia, R10 and Radio Monte Carlo; and social media, in particular on Facebook; iDD Magazine, the DOOH (Digital Out of home) circuit, that combines  advertising with the editorial content of Mondadori’s  lifestyle titles.

The event is curated by My Events.

For a full programme, info and enrolment: starbene.it and mypersonaltrainer.it

Igor Pagani new head of Mondadori Nonfiction

Segrate, 20 May 2019 – From today, Igor Pagani will taking over editorial responsibility for nonfiction at the Mondadori publishing house, reporting to the editorial director Francesco Anzelmo. Born in Como in 1979, Igor Pagani has a degree in the History of Contemporary Philosophy from the University of Milan, with a dissertation on the Italian editions of the works of Nietzsche. After a Masters promoted by the Mondadori Foundation, he joined the publishing house in 2007 in the Classics department. He completed his training in the Foreign Fiction department  and in 2010 he moved to the Oscar paperbacks department, as editor of nonfiction series. In 2012 he moved again to the Nonfiction Department, first as editor for Italian titles and then, in 2016, also for foreign titles . As well as the Nonfiction Department the other areas  reporting to Francesco Anzelmo are  Italian and Foreign Fiction, Miscellaneous Books, Young Adult Fiction, Paperbacks and Classics.

BoD approves results at 31 March 2019

The results of the Interim Management Statement at 31 March 2019 have been prepared showing Magazines France amounts under “Adjusted result from discontinued operations” [1]

  • Consolidated revenue € 166.8 million versus € 177.7 million at 31 March 2018;
  • Adjusted EBITDA (before IFRS 16) improves by € 0.5 million reaching € -2.2 million at 31 March 2019;
  • EBITDA (before IFRS 16) increases by € 3.3 million reaching € -2.8 million at 31 March 2019;
  • Adjusted net result from continuing operations improves by € 5 million reaching € -8.4 million at 31 March 2019;
  • Group result improves strongly by € 10.1 million reaching € -3.5 million at 31 March 2019;
  • Group net financial position (before IFRS 16) improves in the 12 months by € 42.6 million as a result of the steady generation of cash flow from ordinary operations amounting to € -179.3 million

Targets for continuing operations in 2019 confirmed

  • Slight drop in revenue;
  • Single-digit growth of adjusted EBITDA (before IFRS 16);
  • Strong growth in net result (forecast in the range of € 30-35 million);
  • Cash flow from ordinary operations forecast at approximately € 45 million, creating sustainable conditions for a possible future return to a dividend

[1] In 2019, the “Adjusted result from discontinued operations” included the net result of Mondadori France in the current year, together with the recognition of the fair value adjustment of assets being sold, to reflect the negotiations in progress, previously measured at value in use. This item also includes the financial expense held by the Parent Company, but attributable to Mondadori France and charged to the latter under the intercompany loan agreement (approximately € 0.7 million). The “Adjusted result from continuing operations” and the “Adjusted result from discontinued operations” therefore differ by this amount from the amounts of the statements attached to this document (equal to € 5.6 million in 1Q 2019 and € 0.7 million in 1Q 2018), prepared in accordance with IFRS international accounting standards. To enable a like-for-like comparison, 2018 figures have been restated accordingly.

Today, the meeting of the Board of Directors of Arnoldo Mondadori Editore S.p.A., chaired by Marina Berlusconi, reviewed and approved the Interim Management Statement at 31 March 2019[1] presented by CEO Ernesto Mauri.

PERFORMANCE AT 31 MARCH 2019

Consolidated revenue in first quarter 2019 came to € 166.8 million versus € 177.7 million in the prior year, partly as a result of the change in the scope of consolidation (€ 5.6 million) of the Magazines Italy area (-3.1% on a like-for-like basis).

Adjusted EBITDA[2] (before IFRS 16) came to € -2.2 million, up by approximately € 0.5 million versus € -2.8 million in the prior year.

IFRS 16 adjusted EBITDA came to € 1.7 million and includes the IFRS 16 impact of € +3.9 million.

Consolidated EBITDA (before IFRS 16) increased by approximately € 3.3 million versus the prior year, from € -6.2 million to € -2.8 million. The improvement includes the growth in adjusted EBITDA and strong reductions in restructuring costs recorded in the quarter.

IFRS 16 EBITDA amounted to € 1.1 million and includes the IFRS 16 impact of € +3.9 million.

EBIT (before IFRS 16) improved significantly to € -7.6 million versus € -11.2 million at 31 March 2018, as a result of the dynamics of the above components, and includes amortization, depreciation and write-downs of € 4.7 million, slightly lower than the prior year.

IFRS 16 amortization and depreciation amounted to € 3.6 million.

IFRS 16 EBIT amounted to € -7.2 million and includes the IFRS 16 impact of € +0.4 million.

The consolidated result before tax came to € -9.2 million, improving sharply versus € -14.6 million and includes:

  • the decrease in financial expense (from € -0.6 million to € +0.1 million), as a result of an average interest rate lower than the prior year (from 1.3% to 1%), and of a lower average net debt;
  • a positive effect of € 0.5 million from the reimbursement of a substitute tax paid in prior years under the loan agreement;
  • improved performance by associates (consolidated at equity) of € 1 million.

The adjusted net result from continuing operations improved significantly (€ +5 million) and amounted to € -8.4 million versus € -13.4 million at 31 March 2018.

Mondadori France generated net revenue for the period of € 67.6 million (€ 75.6 million in first quarter 2018) and adjusted EBITDA of € 2 million (€ 3.3 million in first quarter 2018).

The net result from discontinued operations came to a positive € 4.9 million and includes the positive effect of the fair value adjustment of Mondadori France, at 31 March 2019, of € 5.8 million.

The Group’s net result was € -3.5 million, improving strongly by € 10.1 million.

At 31 March 2019, the net financial position (before IFRS 16) stood at € -179.3 million, a sharp improvement of € 42.6 million, as a result mainly of cash generated from ordinary operations of continuing operations of € 50.9 million.

The IFRS 16 net financial position stood at € -286.4 million and includes the IFRS 16 impact of
€ -107.1 million.

At 31 March 2019, with regard to continuing operations, Group employees amounted to 2,111 units, down by approximately 8% versus 2,283 units at March 2018, as a result of the sale of Inthera S.p.A., of Panorama and of efficiency gains in the individual business areas, and net of the 713 units of Mondadori France.

Cost of personnel[3] amounted to € 39.4 million, down by approximately 9% versus the same period of 2018.

BUSINESS OUTLOOK[4]

The Group will continue its strategic repositioning and further focus on its core businesses, in particular by consolidating its leadership in the Books Area, completing the sale of Mondadori France and identifying new areas of development.

In line with the outlined strategy and in light of the current relevant context, including the performance in the first quarter, the operating targets for 2019, based on the current scope, allow the Group to confirm, at a consolidated level, a slight decrease in revenue and a single-digit growth of adjusted EBITDA before IFRS 16 versus 2018.

The net result from continuing operations in 2019 is expected to be significantly higher than last year (in the range of € 30-35 million).

Cash flow from ordinary operations in 2019 is forecast at approximately € 45 million, creating sustainable conditions for a possible future return to a dividend.

PERFORMANCE OF BUSINESS AREAS

  • BOOKS

In the first quarter of the year, the Trade Books market grew by 0.8%[5], despite the comparison with first quarter 2018, which had included the positive effects of Easter sales.

The Mondadori Group retained its market leadership position in the period, with an overall 25% Trade share.

Revenue from the Books Area amounted to € 70.2 million (-4.6% versus € 73.6 million in first quarter 2018), as a result of the different scheduling of the publishing plan.

Revenue from the Education Area was in line with last year.

Adjusted EBITDA (before IFRS 16) in the Books Area amounted to € -0.4 million, improving versus the same period of the prior year (€ -0.7 million), as a result of the ongoing improvement in operations.

IFRS 16 adjusted EBITDA amounted to € -0.2 million and includes the IFRS 16 impact of approximately € +0.2 million.

Reported EBITDA (before IFRS 16) amounted to € -0.6 million, improving versus € -1 million at 31 March 2018.

IFRS 16 reported EBITDA amounted to € -0.3 million and includes an impact of € +0.2 million.

  • RETAIL

In the first quarter of the year, the Retail Area recorded revenue of € 41.3 million (€ -4.4% versus
€ 43.2 million at 31 March 2018), due partly to the unfriendly schedule which, in 1° quarter 2019, did not include sales made during the Easter holidays, as in 2018.

The analysis of revenue by channel shows in particular:

  • a +0.6% growth in direct bookstores, as a result of the opening of two new stores (on a like-for-like basis in terms of stores: -5.2%);
  • megastores (approximately -16%), due mainly to the drop in Consumer Electronics sales (on a like-for-like basis in terms of stores: -14.6%);
  • a slight drop by franchised bookstores (-1.7%; on a like-for-like basis in terms of stores -3.1%);
  • online channel (-7.5%);
  • a slight drop by the clubs versus the prior year.

In first quarter 2019, adjusted EBITDA (before IFRS 16) was € -2.5 million versus € -1.9 million at 31 March 2018. The performance is due partly to the unfriendly schedule which, in 1° quarter 2019, did not include sales made during the Easter holidays.

IFRS 16 adjusted EBITDA came to € -0.5 million and includes the IFRS 16 impact of approximately
€ +2 million.

Reported EBITDA (before IFRS 16) amounted to € -2.6 million versus € -2.1 million at 31 March 2018.

IFRS 16 reported EBITDA amounted to € -0.6 million and includes an impact of approximately € +2.0 million.

  • MAGAZINES ITALY

The Italian magazines market contracted both in terms of advertising (-13.1%[6]) and circulation (-13.5%[7]).

In first quarter 2019, revenue generated by the Magazines Italy Area came to € 63 million: -10.2% versus € 70.1 million in first quarter 2018 (-2.5% net of the disposals of Inthera and Panorama).

Specifically:

  • the performance of circulation revenue (-18%) was affected by the sale of Panorama (-12.6% on a like-for-like basis). The Group’s market share in terms of value in the period was 28.4%[8].
  • regarding total print + web advertising revenue (-10%), the digital segment recorded a growth of approximately 10% (-20.7% in print sales; -15.8% excluding Panorama also in 1° quarter 2018).

The percentage of digital revenue on the total increased to 42% (versus 35% in first quarter 2018);

  • revenue from add-on products grew by +7.4% versus first quarter 2018 (+19% excluding Panorama in 1° quarter 2018);
  • the performance of distribution activities and other revenue (-7.8% versus the prior year) was affected by the sale of Inthera S.p.A. (+10% on a like-for-like basis).

The Mondadori Group retained its position as Italy’s leading digital publisher, with a reach of 75% and 29.5 million unique users in the quarter[9].

Adjusted EBITDA (before IFRS 16) from Magazines Italy amounted to a positive € 2.6 million, increasing versus the same period of the prior year (€ 2.1 million), as a result of the ongoing improvement in the digital area and actions aimed at reducing operating and structural costs.

IFRS 16 adjusted EBITDA amounted to € 2.6 million.

Reported EBITDA (before IFRS 16) amounted to a positive € 2.3 million, an improvement versus
€ -0.8 million at 31 March 2018, as a result of lower restructuring costs.

IFRS 16 reported EBITDA amounted to € 2.3 million.

  • MAGAZINES FRANCE (discontinued operations)

In first quarter 2019, revenue from Mondadori France amounted to € 67.6 million versus € 75.6 million in first quarter 2018.

Specifically:

  • circulation revenue (80% of total) fell by 5.9% versus the prior year, with newsstand sales down by -7.1% and subscriptions by -4.6%;
  • total advertising revenue (print+digital) fell by 18.2% versus the same period of 2018, with the print segment (87% of total) down by -17.3%.

Adjusted EBITDA amounted to € 2 million versus € 3.3 million in the first quarter of the prior year.

Reported EBITDA amounted to € 2.1 million versus € 3.2 million in first quarter 2018.

SIGNIFICANT EVENTS AFTER FIRST QUARTER 2019

On 19 April 2019, following the procedure to inform and negotiate with the French trade unions as set out by law, Arnoldo Mondadori Editore S.p.A. signed an agreement for the sale of its subsidiary Mondadori France S.A.S. to Reworld Media S.A.

As a result of the deal, Mondadori will hold from an 8% to 9% interest in the share capital of Reworld Media S.A.

The documentation relating to the presentation of the results at 31 March 2019, is made available through the authorized storage mechanism 1Info (www.1info.it) and in the Investors section of the Company’s website www.gruppomondadori.it.

The Interim Management Statement at 31 March 2019 will be made available at the Company’s registered office, on the authorized storage mechanism (www.1Info.it) and in the Investors section of the Company’s website www.gruppomondadori.it by the end of today.

PUBLICATION OF THE MINUTES OF THE SHAREHOLDERS’ MEETING AND BYLAWS

Arnoldo Mondadori Editore S.p.A. announces that the minutes of the Ordinary and Extraordinary Shareholders’ Meeting of 17 April 2019, together with the amended version of the Bylaws, are available at the Company’s registered office, at the authorized storage mechanism(www.1info.it) and on the Company’s website www.gruppomondadori.it (Governance section).

The Financial Reporting Manager – Oddone Pozzi – hereby declares, pursuant to art. 154 bis, par. 2, of the Consolidated Finance Law, that the accounting information contained herein corresponds to the Company’s records, books and accounting entries.

Annexes (in the pdf file):

  • Consolidated balance sheet;
  • Consolidated income statement;
  • Group cash flow;
  • Glossary of terms and alternative performance measures used.

[1] As of 1 January 2019, the Group has adopted the new IFRS 16 – Leases. The new standard provides a new definition of lease (operating leases) and introduces a criterion based on the control (right of use) of an asset to distinguish leases from service contracts, the differences lying in: the identification of the asset, the right to replace the asset, the right to essentially receive all the financial benefits arising from the use of the asset, and the right to control the use of the asset underlying the contract. The standard introduces a single lessee accounting model, by which an asset under an operating lease is recognized in assets with an offsetting financial liability. P/L will no longer record lease payments as operating/general costs, rather the depreciation of the booked asset and the financial expense implicit in the lease payment. An exception to this accounting model are leases regarding low-value assets and those with a term of 12 months or less.
[2] This document, in addition to the statements and conventional financial measures required by IFRS, presents a number of reclassified statements and alternative performance measures in order to better evaluate the operating and financial performance of the Group, the definition of which is explained in the section “Glossary of terms and alternative performance measures used”.
[3] Cost of enlarged personnel includes costs for collaborations and temporary employment
[4] Before application of IFRS 16.
[5]  Source: GFK, March 2019 (figures in terms of market value)
[6] Source: Nielsen, cumulative market figures at March 2019: magazines -13.1%; +3% digital.
[7] Internal source: Press-Di, cumulative figures in terms of value at February 2019 (newsstands + subscriptions).
[8] Internal source: Press-Di, cumulative figures in terms of value at February 2019 (newsstands + subscriptions)
[9] Source: comScore, January – March 2019

Donna Moderna, Corri con noi: enrolments now open for the final run in Morocco

Donna Moderna, the Mondadori Group brand leader in the women’s segment, is opening enrolments for the Iriki Adventure, an exciting trip to Morocco, the last stage of the big Corri con noi (Run with us) project that offers the possibility for women who love to run and walk to train in 9 cities around Italy.

The final adventure will take place from 19 to 27 October in the Erg Chegaga desert where two options will be available: 80 km in 4 days for runners, and 40 km in 4 days for walkers.  Participants will come in contact with local customs and habits and the stories and traditions of Morocco and the enchanting city of Marrakesh.

“It will be a unique experience that will allow us to get to know the territory and its people slowly, as only walking can. And it will also be wonderful to share all of this with the community of women that have been activated by the Corri con noi project,” declared Annalisa Monfreda, editor of Donna Moderna.

Participants will also get to know the editor of the Mondadopri Group magazine who will be running with them, as well as the journalist of the staff, the ambassadors and the many women who have decided to enjoy an unforgettable week in one of the world’s most beautiful the deserts.

The race will take place in a breath-taking landscape, a corner of the Sahara close to the border with Algeria, with some of the country’s most impressive dunes, some of which are 300 metres high.

The runners will sleep in specially equipped tents and will also be able to take part in yoga and dance lessons and cookery courses. They will see sand dunes and high plains of rock and stones, Berber villages and the world’s largest palm grove.

For the women who are already enrolled in Corri con noi – and will take part in the training sessions in 9 Italian cities – the package will cost €2,000. For all other participants the cost will be €2,200. The price includes the entire experience, flights, the race and bib.

Full details of programme and how to enrol can be found on: donnamoderna.com/corriconnoi

Running with us as partners of the initiative are: Royal Air Maroc the Moroccan national airline; Equilibra an historic Italian company that for over 30 years has been the leader in the market for food supplements and natural cosmetics; Salvelox with Salvelox plasters and a line of products for foot health; Tescoma a world leader in kitchen utensils with the Purity of drinks bottles, ideal for sport.

The project is open to all companies interested in contact women involved in an aggregation and empowerment project together with Donna Moderna

Donna Moderna, Italy’s leading network for women network, is an ecosystem that through the magazine, web and social media channels,  embraces a digital audience of 14 million unique users per month (Source: Audiweb TDA media Dec-Feb 2018) and a total audience of 3.5 million readers every month (Source: Audipress 2018/III) to which should be added over 1,100,000 fans on Facebook, more than 500,000 followers on Twitter and 150,000 on Instagram.

Mondadori foreign fiction: Chiara Scaglioni returns to Mondadori. Also Edoardo Brugnatelli joins the new team, headed up by Donatella Minuto

The Mondadori publishing house is reinforcing the editorial team for foreign fiction led by editorial director Donatella Minuto with the addition of Chiara Scaglioni and Edoardo Brugnatelli.

Chiara Scaglioni, born in Milan in 1972, graduated in Modern Literature from the Catholic University of Milan. She joined the Mondadori publishing house in 2000, where she worked firstly in communications before moving to publishing (miscellaneous books), going on to become Senior Editor of Foreign Fiction. She returns to Mondadori after 5 years at HarperCollins, where she was in charge of foreign fiction and non-fiction.

Edoardo Brugnatelli, born in Milan in 1956, graduated in the History of Philosophy from the University of Pavia and joined Mondadori in 1990. After working on the Comunità editions and foreign non-fiction, in 1998 he created and ran the Strade Blu series, where he published, among others, Michael Moore, Neil Gaiman, Chuck Palaniuk and David Sedaris. Over the last five years Brugnatelli has worked on the social reading platform Anobii.

The foreign fiction department, like Italian fiction, non-fiction, miscellaneous and young adult books, paperbacks and the classics, reports to Francesco Anzelmo, editorial director of the Mondadori publishing house.