GROUP 2018 PROFILE
EDIZIONE
CONTENTS
4 Profile
5 Group Organization Chart
6 Consolidated FInancial Highlights
8 Net Asset Value
9 Gross Asset Value
10 Investments Portfolio
Transport Infrastructure 11 Atlantia
Digital Infrastructure 12 Cellnex
Food and Beverage 13 Autogrill
Clothing and Textiles 14 United Colors of Benetton 15 Olimpias
Real Estate and Agriculture 16 Edizione Property 17 Maccarese 18 Compañia De Tierras Sud Argentino
19 Financial institutions Generali Mediobanca
20 Other unlisted Verde Sport Benetton Rugby
21 Fondazione Benetton Studi Ricerche
22 Investment Criteria
22 Board of DIrectors
23 Management
24 History PROFILE
Established in 1981, Edizione S.r.l. The philosophy which guides and In 2017 Edizione generated is one of Europe’s main holding supports investments at Edizione is consolidated revenue of Euro 12.1 companies. Now in its third generation, based on a virtuous combination of billion, 44.5% of which came from it is entirely controlled by the Benetton ownership and management, aimed outside Italy, with an EBITDA of family. The four branches of the at increasing the value of net assets, Euro 4.1 billion (34% of consolidated family control the capital through with long-term commitments. sales) and a net profit at Group four family holding companies. level of Euro 234 million. As at 30 June 2018 our investment portfolio amount to Euro 12.1 billion. Edizione pursues its objectives Edizione, with 67,000 employees in accordance with the rules and spread across six areas of activity, principles laid down in the Code pursues an investment policy that of Ethics, which establish the goes beyond the merely financial, with values and guidelines of all our an international growth strategy. behaviour and investments.
Our Strategy The Portfolio Shareholders of Holdings and Management
Edizione is an active investor, which The main sectors in which Edizione Edizione is owned by the four combines an entrepreneurial approach operates are: transport infrastructure, branches of the Benetton family with rigorous financial discipline, through a holding in Atlantia (acquired (equal stakes) through the supporting its companies strategically in 2000), digital infrastructure through following companies: Evoluzione, and financially to improve their a holding in Cellnex (acquired in Proposta, Regia and Ricerca. competitive positioning and returns. 2018), food and beverage through Edizione seeks to grow the value of its Autogrill (acquired in 1995) and The Board of Directors of the company investments over time and reinforce manufacturing, through the historic is made up of 8 members: Fabio their presence in the various sectors to brand Benetton (founded in 1965). Cerchiai (Chairman), Gilberto Benetton which they belong. This objective may (Vice-Chairman), Marco Patuano also be achieved through acquisitions, Edizione also has a presence in (Managing Director), Alessandro thanks to the network of contacts and the real estate sector (through the Benetton, Christian Benetton, relationships built up by the Group subsidiary Edizione Property), and Franca Bertagnin Benetton, Fabio over the course of many years. the agriculture and hotel sectors. Buttignon and Giovanni Costa.
Edizione holds a portfolio of shares in the financial sector, represented by its holdings in Assicurazioni Generali and Mediobanca.
EDIZIONE 4 GROUP ORGANIZATION CHART
Transport 50% Abertis +1 share1 Infrastructure
88,1% Autostrade per l’Italia
99,4% Aeroporti di Roma 30,25% Atlantia 100% Sintonia 40% Aeroport Nice Cote D'Azur
15,49%2 Eurotunnel
24%1 Hochtief
Digital 60% ConnecT 29,9% Cellnex Infrastructure
Food 100% Schema34 50,1% Autogrill and Beverage
Clothing 100% United Colors EDIZIONE Srl and Textiles of Benetton 100% Benetton
100% Olimpias
Real Estate 100% Edizione Alberghi and Agriculture
100% Compañia de Tierras 100% Edizione Property Sud Argentino
100% Ganadera Condor
100% Maccarese
Financial 3,05% Generali institutions 100% Schema33 2,1% Mediobanca
Other 32,7% Eurostazioni 40% GS Immobiliare unlisted 1 Closing expected later in 2018 2 Voting rights 100% Quaestio Opportunity Fund equal to 26.66%
EDIZIONE 5 CONSOLIDATED FINANCIAL HIGHLIGHTS
Millions of Euro 2017 % on 2016 % on 2015 % on revenue revenue revenue
Revenues 12,113 11,670 11,412
Ebitda 4,111 33.9 % 3,857 33.1 % 3,763 33.0 %
Operating result 2,624 21.7 % 2,495 21.4 % 2,490 21.8 %
Net income, Group 234 1.9 % 388 3.3 % 1,598 14.0 %
Total shareholders’ equity 16,696 14,834 13,137
Net financial indebtedness 8,726 11,086 10,122
Cash Flow 1 2,861 2,715 3,628
Employees 2 67,115 64,192 64,997
1 Calculated as Net income before minority interests plus depreciation, amortisation, impairment and provisions. 2 Full time equivalent
EDIZIONE 6 Revenues Revenues by sectors by geographies
2016 2017 2016 2017
Total revenues: +3.8% Total revenues: Total revenues: +3.8% Total revenues: 11,670 €Mn 12,113 €Mn 11,670 €Mn 12,113 €Mn
53 423 56 –5.4% 421 +0.5% 1,366 –6.4% 3,037 1,460 +3.3% 10,000 4,990 10,000 2,939 4,941 +1.0%
1,662 +16.3% 1,933
6,648 +1.1% 6,720 5,000 5,704 5,000 5,213 +9.4%
Transport Infrastructure — Food and Beverage Italy — Rest of Europe — Americas — Clothing and Textiles — Other — Rest of World
2017 2017
2017 2017 ricavi settore ricavi paesi 1 Other 4 Rest of World 11 Clothing Transport 47 and Textiles Infrastructure 25 Americas