Month: November 2021

Guarantee an inclusive education for everyone: this is the goal Oxfam is setting out to achieve together with Mondadori Store through the new Christmas project “Wrap up a book, gift a future”.

The initiative marks the start of a partnership that will continue over the coming years, with Mondadori Store and Oxfam joining up for the first time on activities intended to help the most vulnerable members of society.

A concrete commitment from Italy’s leading bookstore network to contribute to the education of children and adolescents living in difficult social environments. Oxfam has been engaged in programs to combat education poverty for more than 20 years in Italy and around the world.

This Christmas, Oxfam’s work to help the weaker members of society can be supported with the “Wrap up a book, gift a future” project: until 24 December it will be possible to have Christmas presents wrapped by one of the more than 100 Oxfam volunteers at the 73 Mondadori bookstores taking part in the initiative in the main Italian cities.

With a small donation, a contribution can be made to the Oxfam and Mondadori Store program to guarantee equality and equal opportunities for scholastic success for students in difficulties, so helping children and adolescents currently at risk of exclusion from education in Italy.

Donations to the project may also be made online, through the special Oxfam page on oxfam.it/mondadorif.

Since the pandemic began, Oxfam has intensified its work in favour of thousands of students and teachers, to fight scholastic dispersion and poor education by improving access to socio-educational services for families in financial difficulties. An inclusive intervention – implemented together with junior and senior high schools, local authorities, universities, foundations and organisations in the voluntary sector – which has generated training initiatives and support for teachers and parents; laboratories and remedial courses to help students who have fallen behind in the last very difficult academic year; educational and play activities in parks in Italian suburbs hardest hit by the social unease generated by the pandemic.

“The pandemic has affected everyone, but in different ways. Kids who were already experiencing difficulties have suffered the most, falling behind and lacking the means to react to the severe impact of the emergency. We’re thinking about children who don’t have the tools to follow online lessons, above all about a generation we don’t want to lose and need to put back on an equal footing as soon as possible,” said Roberto Barbieri, general manager of Oxfam Italia. “In Italy, even before the pandemic, 10 million people lacked the resources to resist the emergency. So we need to make every possible effort, starting with schools and students, to prevent kids from leaving school early, which is the first step towards definitive social exclusion. Thanks to the work of the Community Centres we have already reached thousands of people since the pandemic began, but there is still a great deal to do and we have to do it together. With Mondadori Store we shall be even more effective in helping kids not to give up on their future.”

“Every day through our bookstores across the country we work to promote and spread cultural values, which are the bedrock for the growth of the individual and community cohesion,” said Mondadori Retail CEO Carmine Perna. “With the launch of this important cooperation agreement with Oxfam, we shall be at the side of people who risk exclusion, bringing our commitment to support education: thanks to the work of the volunteers and the awareness of our customers, we can certainly make a difference in creating new prospects and a more inclusive future for children and adolescents.”

About Oxfam
Oxfam is a global movement of people who fight inequality to overcome poverty in more than 60 countries. It saves and rebuilds lives in emergencies, promotes sustainable development and works to build a future without inequality where essential rights are guaranteed for everyone, everywhere, and no one is left behind.

About Mondadori Store
Mondadori Store is the largest network of bookstores in Italy: a cultural organisation active across the country through more than 500 stores in large cities and small towns alike, and online through the e-commerce website Mondadoristore.it and the bookclub formula. In addition to books, its core offer, it organises entertainment experiences, events and multi-channel services, reaching more than 20 million customers every year.

The Mondadori Group announces the signing of an agreement on the acquisition from De Agostini Editore S.p.A. – owner of the entire share capital – of a 50% stake in DeA Planeta Libri S.r.l., to be renamed De Agostini Libri S.r.l., specialized in trade books with focus on the children’s and non-fiction segments.

The corporate governance structure entitles the Mondadori Group to fully consolidate the company.

The scope of the deal includes Libromania S.r.l., wholly-owned by De Agostini Libri and active in the promotion of third-party publishers: the agreements between the parties include put&call options, exercisable in second half 2022, which entitle the Mondadori Group to acquire 100% of Libromania.

In 2021, De Agostini Libri is expected to record consolidated revenue of approximately € 12.6 million, while EBITDA is forecast at break even.

The total maximum value of the transaction, taking account of the 100% valuation of Libromania, has been set at € 4.5 million.

Thanks to the acquisition, the Mondadori Group, – consistent with its strategy of increasing focus on the core business of books – forms a partnership with a publishing house that boasts a rich history and tradition, as well as solid know-how.

While the transaction in itself is irrelevant for the purposes of Antitrust reporting obligations, in accordance with the relevant legislation, it is subject to the Authority’s authorization, given the involvement of the same parties (the Mondadori Group and De Agostini Editore) in the De Agostini Scuola deal.

Mondadori Group hereby informs that the Interim Management Statement at 30 september 2021 is now available at the Company’s registered office, at the authorized storage mechanism 1info (www.1info.it) and on the website www.mondadorigroup.com (Investors section).

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 30 September 2021 presented by CEO Antonio Porro.

HIGHLIGHTS
In first nine months 2021, thanks also to the buoyancy of the books market, the Mondadori Group recorded a significant growth in revenue and EBITDA across all business areas, and a strong increase in profitability at a consolidated level.

The overall improvement in results puts the Company in a position to pursue further growth opportunities, with a view to increasing focus more and more on its core business of books.

“The good performance recorded also in the third quarter bears witness to the healthy conditions of our company and to our stronger operating and financial standing marked by growing profitability”, said Antonio Porro, CEO of the Mondadori Group.
“These results, together with the positive trend of our core markets, allow us to make an upward revision of the targets we had set for the end of the year.
We carry this momentum into 2022 with an even more solid presence in the books segment: on the one hand, with a consolidated leadership in the Trade area; on the other, with a stronger leading role in school textbooks publishing thanks to the acquisition of De Agostini Scuola.
A growth plan complemented today by the major investment in the books distribution of third-party publishers, thanks to the acquisition of 50% of A.L.I.- Agenzia Libraria International”, concluded Porro.

PERFORMANCE AT 30 SEPTEMBER 2021
In first nine months 2021, consolidated revenue amounted to € 588.9 million, up by 8.7% versus  € 541.9 million of the prior year, thanks to the positive performance of all the business areas and, in particular, of the Books and Retail areas, which benefited from the buoyancy of the Books market.

Adjusted EBITDA came to a positive € 85 million, increasing by € 14 million versus € 71 million in first nine months 2020.
This performance reflects, on the one hand, the positive trend in revenue recorded by all business areas and, on the other, the ongoing efforts to curb operating and structural costs implemented by management.
The reduction in the ratio of fixed costs (overheads and payroll costs) to consolidated revenue enabled the Group to achieve a significant improvement in its margins, which rose to 14.4% from 13.1% in 2020.

The Group’s performance in the first nine months is even more striking when compared with the same period of 2019: despite a € 70 million drop in revenue, adjusted EBITDA rose by more than € 1 million versus € 83.4 million in first nine months 2019.

Group EBITDA, amounting to € 80.5 million, improved versus the € 65.1 million recorded in the same period of 2020, as a result of the abovementioned trends and dynamics, and to lower non-ordinary expense of € 1.4 million versus € 3.2 million in the same period of the prior year, which recorded a provision for charges arising from a tax dispute.

EBIT amounted to € 52 million, up by more than € 23 million versus € 28.9 million in the same period of 2020, due to the dynamics of the abovementioned operating components, to lower amortization and depreciation totaling € 2.1 million, and to the presence, in the result at 30 September 2020, of write-downs of € 5.8 million relating to TV Sorrisi e Canzoni and the goodwill of a number of other titles in the Media area.

Consolidated profit before tax amounted to € 44.8 million versus € 19.6 million in first nine months 2020. On top of that, the following items also contributed to the significant improvement of approximately € 25 million:

• the reduction of approximately € 1 million in financial expense (down from € 3.2 million to € 2.2 million), due primarily to a lower average debt and a lower average interest rate;
• the improvement of approximately € 2 million in the results of associates (consolidated at equity), thanks in particular to the performance of the joint venture Mediamond.

The Group’s net profit, after minority interests, came to € 49.4 million, a sharp increase of € 31.4 million versus € 18 million recorded in first nine months 2020.
Despite the growth in profit before tax, the tax components for the period show a positive operating balance of € 4.6 million, due to the effect of net non-recurring income of approximately € 19 million, from the completion of the process of realigning the tax amounts of trademarks and goodwill to their respective statutory amounts.

The net financial position before IFRS16 at 30 September 2021 stands at € -27.3 million, a significant improvement of € 55 million versus € -82.3 million at 30 September 2020, as a result of the strong cash generation from ordinary operations recorded in the last 12 months (€ 70.7 million including outlays for financial expense and tax).
The IFRS 16 net financial position stands at € -111.6 million and reflects the recognition of the financial payable from the application of IFRS16.

At 30 September 2021, Group employees amounted to 1,814 units, down by 5.3% from 1,916 resources at 30 September 2020, despite the increase in headcount following the acquisition of Hej! (net of which the reduction would be -5.8%).

PERFORMANCE IN THIRD QUARTER 2021
In third quarter 2021, consolidated revenue amounted to € 268.5 million, up by 6.1% versus € 253 million of the prior year, thanks to the positive contribution of all business areas.

Adjusted EBITDA came to € 63.5 million, increasing by € 3.5 million versus € 60 million of third quarter 2020, which basically reflects the positive performance of consolidated revenue, especially in the Books area.

EBIT too, amounting to € 51.8 million, improved by approximately € 6 million, up by over 12% versus the same quarter of 2020, driven by the performance of the abovementioned components and by lower amortization and depreciation during the period.

The Group’s net profit, after minority interests, came to € 45 million versus € 43 million of third quarter 2020.
The comparison with the prior year is affected not only by the above trend in operating profit, but also by the following additional elements (which have an opposite effect):

• in third quarter 2020, the recognition of the write-up of the investment in Reworld Media (fully sold in February 2021), amounting to € 7.5 million;
• non-recurring tax income of € 9.8 million in third quarter 2021, from the completion of the tax realignment process.

AGREEMENT ON THE ACQUISITION OF 50% OF THE BOOKS DISTRIBUTION COMPANY OF THIRD-PARTY PUBLISHERS A.L.I. – AGENZIA LIBRARIA INTERNATIONAL
The Mondadori Group announced today that it has entered into an agreement on the acquisition of a 50% stake in the share capital of A.L.I. S.r.l. – Agenzia Libraria International, a group that has been operating in books distribution for over 50 years now, boasting a portfolio of more than 80 publishing houses.

Thanks to the deal, the Mondadori Group establishes a partnership that enables it to strengthen its position in the books distribution area: a constantly evolving market requiring ongoing improvement of customer service levels.
The founders of A.L.I., the Belloni family, who retain a 50% stake, will continue to manage operations, continuing the path of growth and success enjoyed by the company so far.

The price, which will be paid in cash at the closing date, has been set at € 10.8 million.
The deal also envisages the signing of put&call option agreements whereby the Mondadori Group has the option to acquire the additional 50% of A.L.I. in two different tranches by 30 July 2025.
In 2020, A.L.I. reported consolidated revenue of € 40 million, EBITDA of € 4.6 million and net profit of € 3 million (in accordance with Italian accounting standards).
At 31 December 2020, the net financial position (cash) stood at a positive € 5.9 million.

The scope of the transaction also includes a number of subsidiaries operating in the publishing fields.
Completion of the acquisition is subject to the authorizations of law from the competent Antitrust authority.

BUSINESS OUTLOOK

The positive performance recorded also in the third quarter of the year by all business areas, the continued strong cash flow generation, as well as the improved trend forecast for the books market throughout the year, allow the Group to look forward with increased optimism to its development in the coming months, and therefore to increase – based again on the current scope – the estimates previously disclosed for the current year.

 Performance targets:

• consolidated revenue is expected to grow single-digit (from low single-digit);
• adjusted EBITDA – in percentage terms – is forecast to be over 13% of consolidated revenue (compared with the previous estimate of an EBITDA margin of 12%), therefore to reach over € 100 million;
• the net result for 2021 is confirmed on a sharp rise, propelled by the improvement in operations and by the non-recurring benefits from the tax realignment of intangible assets already recorded.

 Cash Flow and Net Financial Position:
Additionally, with regard to the Group’s financial debt, one can reasonably estimate a further increase in cash flow from ordinary operations, bringing it to a range between € 60 and 65 million (from the previous forecast between € 50 and 55 million), a Free Cash Flow of approximately € 50 million and, therefore, the achievement – before the impacts from the adoption of IFRS 16 – of a positive consolidated net financial position at year end equal to approximately € 35 million.

As previously anticipated, the financial strength achieved by the Group has paved the way for a possible return to a shareholder remuneration policy from 2022 (applied to the net result of 2021).

The above forecasts, drawn up on the basis of the current scope, may be updated upon completion of the acquisition of De Agostini Scuola.

PERFORMANCE OF THE BUSINESS AREAS AT 30 SEPTEMBER 2021

• BOOKS

In the first nine months of the current year, the Trade books market recorded an overall growth of 3%[1] versus the same period of the prior year; in the third quarter, the increase was 7%, consolidating the positive trend that had started in second half 2020.
If the comparison with 2020 is affected by the lockdown, which impacted on the operation of almost all sales channels in the months of March and April 2020, the comparison with 2019 bears more significance to the extraordinary trend that the Books market is experiencing: growth in the first nine months of the year versus the same period of 2019 amounted, in fact, to 20.6%.

Against this backdrop, the Mondadori Group saw an increase in sell-out in terms of market value of approximately 19%, which allowed it to retain its undisputed leadership in the Trade segment with a 23.4% market share[2].

In the School textbooks segment, the Mondadori Group’s publishing houses kept their market share steady at 22.1%, in line with the prior year, thanks to the positive results of the 2021 adoption campaign.

In first nine months 2021, revenue in the Books area amounted to € 348.7 million, up by 10.3% versus € 316.1 million in the same period of 2020, driven in particular by the increase recorded by the Trade area (+14.5%), the positive performance of the school textbook publishers (+5%, due also to a different monthly schedule of revenue from 2020, which had seen a delayed return to school), and the significant growth of Rizzoli International Publications (+27.6%).

Revenue from the sale of e–books and audiobooks, which accounted for approximately 7.4% of total publishing revenue, fell by 3.5%, while sales of physical books were instead on the rise. Versus 2019, this revenue grew instead by approximately 25%.

Adjusted EBITDA in the Books area amounted to € 79.4 million versus € 67.5 million in the same period of 2020, an improvement of approximately € 12 million, thanks to the abovementioned positive trend of revenue in the Trade and Education segments and of Rizzoli International Publications, and to the relief received by Electa in the museum segment and booked in the first nine months (approximately € 3 million, net already of certain provisions).

The profitability achieved by the Books area, amounting to 22.8% at 30 September 2021 (versus 21.3% in the same period of 2020), is even more worthy of notice when compared to the profitability recorded in the first nine months of 2019, equal to 21.5%, since the current year is still impacted by the drastic drop in volumes and margins from museum activities.

• RETAIL

In the first nine months of the year, Mondadori Retail achieved revenue of € 114.3 million, up by 12.1% versus € 102 million in the same period of 2020.
Sales of books, which account for 84% of total revenue for the area, rose by 15.8%.

Performance in the opening months of 2021 was affected by the anti-COVID measures, which severely curtailed sales activities, especially of directly-managed stores located in large cities and shopping malls.
In the second half of the period under review, thanks to the gradual lifting of social distancing measures, directly-managed PoS reported a sharp recovery in revenue, enabling them to close the first nine months with an increase of approximately 9% versus the prior year.
The franchised channel, composed mainly of proximity stores located in small towns, showed greater resilience and responsiveness, enabling it to record a growth of approximately 26% versus the same period of the prior year.
The gradual reopening of bookstores led to a decline in the activities of the online channel, which posted a 24% drop in revenue during the period; versus 2019, revenue improved, instead, by 13.1%.

Mondadori Retail reported a strong increase in adjusted EBITDA, which came to € 1.7 million, up by € 2.2 million versus the same period of 2020, and an improvement versus the same period of 2019 (€ 0.8 million).
This result is attributable to the deep transformation of the Area, the ongoing renewal and development of its network of physical stores, as well as careful cost management and a thorough review of the organization and processes.

• MEDIA

In the first nine months of the year, the Media area posted revenue of € 150 million, up by 4.1% versus € 144.1 million in the same period of the prior year.

Advertising revenue grew by approximately 32% overall (+18% excluding Hej!), and grew even further in the third quarter by 39% (+23% on a like-for-like basis) versus the same period of 2020. Against this backdrop:

• advertising revenue on digital brands increased by 20% on a like-for-like basis (+44% including Hej!). A point worth mentioning is that digital revenue today accounts for 60% of total advertising revenue, confirming Mondadori Media’s leadership position in the digital field, in segments marked by high commercial value.

• advertising sales on print brands increased by approximately 16%, benefiting from the comparison with a period negatively affected by the pandemic.

Circulation revenue was down by 5.8%, with a more moderate drop (-4%) for television titles, which account for approximately 50% of revenue in this segment.
Against this backdrop, with results that outperformed the relevant market (-6.9%[3]), the Group’s market share rose to 23.9%1³.

Revenue from add-on products dropped by approximately 18% versus the first nine months of 2020, but with a reversal of the trend in the third quarter this year (+2.5%), thanks in particular to the presence of a number of successful initiatives in the music segment.

Other revenue, which includes revenue from distribution activities, increased by 9.5% versus the prior year, reflecting both the positive performance of international editions (Grazia in particular) and growth in newsstand distribution and subscriptions of third-party publishers.

Adjusted EBITDA in the Media area amounted to € 7.8 million, up sharply versus € 3.2 million in the first nine months of 2020, thanks in particular to the development of digital activities, the recovery of print advertising sales and the continued efforts to curb operating costs, which contributed to the increase in profitability: the overall EBITDA margin improved from 2% to approximately 5% in first nine months 2021.

SIGNIFICANT EVENTS AFTER FIRST NINE MONTHS 2021
On 8 November 2021, the Mondadori Group announced it had received notice from the Antitrust Authority of the authorization to acquire 100% of De Agostini Scuola S.p.A..
The provision envisages the adoption of appropriate behavioural measures, as indicated by the Authority and shared by the Mondadori Group, to safeguard the competitiveness of the school textbooks market, including, in particular, the commitment to continue to keep De Agostini Scuola separated until 31 December 2024.
These remedies confirm the rationale of the acquisition, the business development plan and the potential for value creation initially estimated by the Group.
The Authority’s go-ahead triggers the fulfilment of the suspensive condition attached to the agreement on the sale of the investment in De Agostini Scuola; the sale will therefore be fully executed on the closing date, scheduled to take place later this year.

§

The results at 30 September 2021, approved today by the Board of Directors, will be presented to the financial community by the Mondadori Group CEO Antonio Porro and CFO Alessandro Franzosi at a conference call scheduled today at 4:30 pm.
The relevant documentation will be concurrently available on the website www.gruppomondadori.it (Investors section) and on 1Info (www.1info.it).

Journalists will be able to follow the presentation, in listening mode only, by connecting to the dedicated number +39.028020927, and via the web in audio mode by registering at the link https://hditalia.choruscall.com/?calltype=2&info=company.

§

The Financial Reporting Manager – Alessandro Franzosi – hereby declares, pursuant to Article 154 bis, paragraph 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 complete pdf):

1. Consolidated balance sheet;
2. Consolidated income statement;
3. Consolidated income statement – III quarter;
4. Group cash flow;
5. Glossary of terms and alternative performance measures used.

[1] GFK, September 2021 (figures in terms of market value)

[2] GFK, September 2021 (figures in terms of value)

[3] Internal source: Press-di, August 2021, in terms of value

Donna Moderna, the Mondadori Group brand, a point of reference in the women’s segment, this month will launch three special issues dedicated to topics of great interest to readers: from winter holiday destinations, to a Black Friday special, with a guide to discounts, and a look at Christmas gifts, a must for shopping and leisure.

A series of initiatives that enhance the offer of a brand that is always in touch with the needs of the 7.5 million users (source: Nielsen Media Impact Data fusion, May 2021) in its community, with content which is developed from the magazine across its social media channels, website and through special collectors’ issues.

Starting this week with the Winter Travel issue, featuring on the cover the presenter Elisabetta Canalis, chosen by the magazine as a representative of the perfect globetrotter: always with a suitcase in her hand, she is constantly traveling between the US and Italy for work and love.
In the special, Donna Moderna readers will find 25 winter holidays for the end of the year: from the mountains with itineraries to immerse oneself in nature and to practice sport, to cities of art in Italy and Europe with lots of practical advice for the perfect visit. Then there are the Christmas markets, destinations for a gourmet or shopping holiday and new travel experiences such as the Advent party in a European capital for an authentic Christmas atmosphere and a guided tour of patisseries with a food critic in Turin.
And not to be missed on the Donna Moderna Instagram profile three reels with the two winter sports athletes; the skier Sofia Goggia, and mountaineer Hervé Barmassee, and with the writer and art curator Paola Zatti on holidays in a city of art.

The second appointment is on 18 November with an issue dedicated to Black Friday, which kicks off the pre-Christmas shopping bonanza with exceptional promotions.
A special issue full of advice and information for purchases at special prices both in physical stores, which have become more and more places for unique experiences, amusement and fun, and in digital stores using the many new tools available: including augmented reality, virtual tours, live shopping and the new hybrid purchasing methods, such as omnichannel, cross shopping, click & collect.
To accompany the issue, there will be a tutorial on donnamoderna.com on online shopping with a range of practical tips on the best deals and the shops not to be missed, as well as an in-depth study dedicated to new payment methods.

The rich autumn offer of Donna Moderna is completed by the XMas Gifts issue, on newsstands from 25 November, with a very special cover.
The theme of the issue is the five senses: ideas and advice for gifts to touch, hear, taste, look at and smell, as well as a practical guide to making original Christmas packages.
The Christmas storytelling will continue also online with a special How To XMAS for an Instagrammable Christmas and on the Donna Moderna social media channels with a programme of Xmas Reels with lots of special guests.

Mondadori Store, Italy’s largest network of bookstores, tomorrow opens a new bookstore in the new gallery of the Fiordaliso Shopping Centre in Rozzano, just outside Milan.

With an extensive offer, the new Mondadori Bookstore will be a point of reference for book lovers, thanks to an offer of the best of culture and entertainment curated by Mondadori Store.

Coveringan area of 350 square metres, the store will offer visitors to the shopping mall a catalogue of over 16,000 titles, including fiction, non-fiction, miscellaneous books, classics and comics including the new Just Comics format. An assortment enriched by a section of books and toys aimed at children and teenagers.
Customers will also be able to choose from a selection of the best stationery products, with many gift ideas, gift boxes, gift cards and the proposals of the Mondolibri club.

Readers can also take advantage of all the free multichannel services of Mondadori Store, such as Pick Up Point, which allows you to collect a book purchased on Mondadoristore.it for free from the point of sale, choosing from a catalogue of over 1 million titles; Order and collect, which offers the possibility of ordering books online and then collecting and paying in the store; Home delivery, to receive products ordered in the store directly at home.

With the opening of the new Mondadori Bookstore inside the Fiordaliso shopping mall in Rozzano, continues the development plan of the Mondadori Store chain, which now has over 500 bookstores across Italy.

MONDADORI BOOKSTORE
c/o Centro Commerciale Fiordaliso
(Ingresso 1 lato Humanitas)
Via Eugenio Curiel 25, 20089 Rozzano (MI)
Open: Mon-Sun 9.00-22.00
E-mail: libreria.fiordaliso@mondadori.it
www.mondadoristore.it/negozi
Facebook: facebook.com/mondadorifiordaliso
Instagram: @mondadorifiordaliso

The Mondadori Group announces that it has received notice from the Antitrust Authority of the authorization to acquire 100% of De Agostini Scuola S.p.A. as disclosed last 12 July.

The provision envisages the adoption of appropriate behavioural measures, as indicated by the Authority and shared by the Mondadori Group, to safeguard the competitiveness of the school textbooks market, including, in particular, the commitment to continue to keep De Agostini Scuola separated until 31 December 2024.
These remedies confirm the rationale of the acquisition, the business development plan and the potential for value creation initially estimated by the Group.

“We are really delighted to be able to go ahead with the acquisition of De Agostini Scuola, a deal consistent with our strategy of focusing on our core business of books”, said Antonio Porro, CEO of the Mondadori Group. “The investment – the most relevant made in the last 15 years – will allow us to open up a new chapter in the path of growth of our Group and to achieve a leadership position in the school publishing market”, concluded Porro.

The Authority’s go-ahead triggers the fulfilment of the suspensive condition attached to the agreement on the sale of the investment in De Agostini Scuola; the sale will therefore be fully executed on the closing date, scheduled to take place later this year.

Mondadori – libri per ragazzi is launching the new series “Io dico no” [I say no]: a series of books, each one dedicated to a current issue explained through ten key words by highly qualified authors.

Each chapter presents practical examples, anecdotes, ideas to develop critical thinking. Paths to build awareness, to think about issues together at school and at home, to say no to injustice.

The series opens with two books:

Viviana Mazza – Kibra Sebhat, I say no to racism. 10 words to understand the world

What does it mean to have a privilege, a white skin, when you are not even aware of it? What does it mean for someone when they leave everything behind to try and make a better life elsewhere? What does a young foreigner wanting to acquire Italian citizenship have to deal with?
The authors look for an answer to these and other questions, showing us how the prejudices at the root of racism are much more widespread than we think; but they also take us down a different path, where diversity is seen as an enrichment, co-existence as a necessary objective, anti-racism as the only possible response.

Viviana Mazza is a journalist on the foreign desk of “Il Corriere della Sera”. Her books, published by Mondadori, include Greta. La ragazza che sta cambiando il mondo and Storia di Malala, the first book in Italy to tell young people about Malala Yousafzai.
Kibra Sebhat, born in Rovigo in an Eritrean family, is an Afro-Italian native of Milan. She works in corporate communication, journalism and video productions. She was a member of Rete G2 – Seconde Generazioni, a non-partisan organisation that promotes the rights of the children of immigrants without Italian citizenship. Since 2012, she has been a contributor to “Il Corriere della Sera”.

Alberto Pellai – Barbara Tamborini, Io dico no al bullismo. 10 words to understand the world

There are victims of bullying, bullies, and the many people who witness these acts every day at school, on the sports field, online. How does it feel to be marginalised or mocked because of one’s appearance or diversity? What thoughts and emotions are triggered inside a bully and the person they target? What strategies can be used to protect oneself or others from the threat of bullying?

With strongly empathetic writing that examines even the most difficult emotions, the authors teach us that the first and most important thing to do is ask for help, and that a decisive response to bullying is possible when a group becomes a team.

Alberto Pellai is a physician, developmental psychotherapist and researcher at Milan University. In 2004 the Italian Ministry of Health awarded him a silver medal for merit in public health. Together with Barbara Tamborini, he is the co-author of many parenting and psychology best-sellers.
Barbara Tamborini is a psychopedagogist and writer. She holds educational workshops in schools and training courses for teachers and parents. Together with Alberto Pellai, she is the co-author of a number of parenting and psychology best-sellers.

• First of its kind in Italy, single-point-of-access subscription allows Italians to synchronize eBooks and audiobooks bookmarks across Kobo eReader or Kobo App devices
• Kobo Plus, the all-you-can-enjoy subscription service, offers hundreds of thousands of titles from Italian and international authors
• With new Audiobook service offered by Kobo, booklovers can read or be read to on the Kobo App or latest eReader devices with Bluetooth® wireless technology

Global digital eReading leader Rakuten Kobo announced today the Italian launch of Kobo Plus, the all-you-can-read subscription giving booklovers unlimited access to hundreds of thousands of eBook and Kobo Audiobook titles for as little as €9,99 per month, in partnership with Mondadori Store, the largest network of bookshops in Italy.

Since launching their partnership in 2012, Rakuten Kobo and Mondadori Store have worked together to provide Italy’s best digital reading experience. Kobo Plus marks the first service in Italy to provide a combined reading and listening subscription offering at an affordable price and single point of access. Italian booklovers now have the opportunity to read or listen to their favourite stories within a single subscription on their Kobo eReader or through the Kobo App, all without having to worry about losing their place thanks to Kobo’s synchronized reading experience that keeps all eBooks and audiobooks seamlessly synced across all of a reader’s devices.

“Italy was the first country that taught us how to embrace digital reading to make reading lives better during the difficult times of the lockdown, and we have seen significant growth in digital reading as a result. It’s why we are so proud to be launching Kobo Plus here – it is our way of expanding on our commitment to Italy by making a great reading experience even better. The all-you-can-enjoy subscription allows Italian booklovers to explore new titles and genres risk-free, while also introducing them to Kobo Audiobooks and Kobo Originals selected and curated by skilled and committed book experts,” said Michael Tamblyn, CEO, Rakuten Kobo.

Tamblyn continued: “Our mission has always been to make the reading experience better and more accessible to everyone. By working with equally committed partners, like Mondadori Store, we can continue to connect more authors to more Italian readers.”

Kobo Plus is available in three subscription plans: Kobo Plus eBook for €9,99 per month; Kobo Plus Audio for €9,99 per month; or Kobo Plus eBook & Audio for €12,99 per month. All subscribers will receive a free 30-day trial, where booklovers can access the full Kobo Plus catalogue and switch between the three subscription plans to determine which is best for their needs.

“As the largest network of bookshops in Italy, our task is to intercept the new interests of readers, offering them also the possibility to access the most advanced forms of digital reading. We have done this with Kobo since its arrival on the Italian market, through our e-commerce site and our network of bookshops Mondadori Store. Since then, we have witnessed a transformation in the way content is used and in purchasing habits. Today we are delighted to renew this profitable partnership, which over the years has enabled us to reach an increasing number of readers and which today also extends to audiobooks, a segment that is recording very interesting growth rates,” declared Carmine Perna, managing director of Mondadori Retail.

To build the Kobo Plus catalogue, Rakuten Kobo worked with the Italian biggest publishers—including Mondadori Rizzoli, Einaudi, Sperling & Kupfer, Piemme e Mondadori Electa, Garzanti, Longanesi, Feltrinelli, and many others—along with the best Italian independent publishers, like Sur. The catalogue also features Kobo Originals, like Silvia Volpi’s Il silenzio dell’erba, and eBooks published through Kobo Writing Life—stories from Rakuten Kobo’s own publishing platform that allows authors to self-publish—as part of the subscription service.

The new Kobo Plus collection features a breadth of stories including literary classics and popular genre page-turners such as Ilaria Tuti’s Fiori sopra l’inferno; Ken Follett’s Kingsbridge novels, including as Pillars of the Earth; Non è la fine del mondo by Alessia Gazzola; and La guerra dei Courtney by Wilbur Smith, among many more. Other authors featured within the catalogue include Fabio Volo, Cristiana Capotondi, Melania Mazzucco, Gianrico Carofiglio and Alice Basso, while great actors like Anna Bonaiuto and Fabrizio Gifuni bring stories to life as narrators of Kobo Audiobooks.

In addition to hundreds of thousands of eBooks, Kobo Plus also offers a wide selection of Audiobooks, depending on your monthly subscription service. While Kobo Plus eBooks can be enjoyed with any eReader device, Kobo Audiobooks can be listened to on any smartphone or can be paired with the new Libra 2 or Sage eReader devices, which both feature Bluetooth® technology, allowing booklovers to read or listen to their favourite story.

Italian readers will be able to discover the features of the new devices and the Kobo Plus service in participating Mondadori Stores throughout Italy, ambassadors of culture and reading in all its forms.

At the same time, Mondadoristore.it is also expanding its offerings to include a new section dedicated to audiobooks, with over 4,000 Italian titles, from new releases to the great literary classics. At the time of purchase, users will be redirected to the Kobo site and with a few clicks you can start listening to a new story directly on your device (PC, tablet or smartphone), using the dedicated Kobo app.

Readers can also sign up for their subscription and free trial directly through kobo.com, the Kobo Android app or on a Kobo eReader. Kobo Plus launches in Italy November 4, 2021.
To learn more about Kobo Plus in Italy, visit kobo.com/koboplus.

About Rakuten Kobo Inc.
Rakuten Kobo Inc. is the world’s digital bookseller created by and for book lovers. Owned by Tokyo-based Rakuten Group, Inc. and headquartered in Toronto, Rakuten Kobo’s 58 million worldwide users can read any time, anywhere, and on any device. With a mission to make reading lives better for all, Rakuten Kobo connects readers to stories using thoughtful and personalized curation of eBooks and audiobooks, and the best dedicated eReaders and apps for reading. With the singular focus of making reading lives the best they can be, Kobo’s open platform allows people to fit reading into more moments in their busy lives.
To learn more about Rakuten Kobo, visit https://www.kobo.com/ca/it

About Mondadori Store
Mondadori Store is the largest network of bookstores in Italy: a cultural stronghold active throughout the country thanks to more than 500 stores spread from large cities to smaller towns, online with the e-commerce website Mondadoristore.it and the bookclub formula. Mondadoristore.it is at the side of readers and users through a proposal that, in addition to books, the heart of the offer, includes entertainment experiences, events and multi-channel services, reaching over 20 million customers every year.