GROUP 2020 PROFILE
CONTENTS
4 Profile
5 Group Organization Chart
6 Consolidated Financial Highlights
8 Net 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 and Ganadera Condor
19 Financial Institutions Generali Mediobanca
20 Other unlisted Verde Sport Benetton Rugby
21 Benetton Foundation
22 Investment Criteria
22 Board of Directors
23 Management
24 History
EDIZIONE GROUP PROFILE 3 PROFILE
Established in 1981, Edizione The philosophy which guides and In 2019 Edizione generated S.r.l. is one of Europe’s main supports investments at Edizione is consolidated revenue of Euro 17.9 holding companies. Now in its based on a virtuous combination of billion, 60% of which came from third generation, it is entirely ownership and management, aimed outside Italy, with an EBIT of Euro controlled by the Benetton family. at increasing the value of net assets, 1.9 billion and a net profit at Group The four branches of the family with long-term commitments. level of Euro 55 million. As at 31 control the capital through four December 2019 its investment family holding companies. portfolio amounts to Euro 12.3 billion.
Edizione pursues its objectives in accordance with the rules and Edizione, with 103,251 employees principles, laid down in the Code spread across six areas of activity, of Ethics, which establish the pursues an investment policy that values and guidelines of all its goes beyond the merely financial, behaviour and investments. with an international growth strategy.
Our Strategy The Portfolio Shareholders of Holdings and Management
Edizione is an active investor, which The main sectors in which Edizione is owned by the four combines an entrepreneurial Edizione operates are: transport branches of the Benetton family approach with rigorous financial infrastructure, through a holding (equal stakes) through the discipline, supporting its companies in Atlantia (acquired in 2000), following companies: Evoluzione, strategically and financially to digital infrastructure through a Proposta, Regia and Ricerca. improve their competitive positioning holding in Cellnex (acquired in and returns. Edizione seeks to grow 2018), food and beverage through The Board of Directors of the the value of its investments over Autogrill (acquired in 1995) and company is made up of 8 members: time and reinforce their presence manufacturing, through the historic Gianni Mion (Chairman), Alessandro in the various sectors to which they brand Benetton (founded in 1965). Benetton, Christian Benetton, Franca belong. This objective may also Bertagnin Benetton, Ermanno Boffa, be achieved through acquisitions, Edizione also has a presence in Giovanni Ciserani, Claudio De Conto thanks to the network of contacts the real estate sector (through the and Vittorio Pignatti-Morano Campori. and relationships built up by the subsidiary Edizione Property), and Group over the course of many years. the agriculture and hotel sectors.
Edizione holds a portfolio of shares in the financial sector, represented by its holdings in Assicurazioni Generali and Mediobanca.
EDIZIONE GROUP PROFILE 4 GROUP ORGANIZATION CHART
EDIZIONE 100% 30.25% 88.06% Transport Sintonia Atlantia 1 Autostrade per l’Italia Infrastructure
100% Autostrade dell’Atlantico
50% + 1 share Abertis
99.38% Aeroporti di Roma
62.50% 64% Azzurra Aéroports Aeroporti de la Côte d’Azur
100% Telepass
23.86% Hochtief
15.49% Getlink
55% 29.9% Digital ConnecT Cellnex Telecom Infrastructure
100% 50.10% Food and Schematrentaquattro Autogrill 2 Beverage
100% 100% Clothing Benetton Benetton Group and Textiles
100% Olimpias Group
100% Real Edizione Property Estate and Agriculture 100% 100% Edizione Agricola Maccarese
100% Compañia de Tierras Sud Argentino
100% Ganadera Condor
100% 4% Financial Schematrentatre Assicurazioni Generali Institutions
2.10% Mediobanca
Listed company 1 At December 31, 2019, Atlantia holds 0.94% of treasury shares 2 At December 31, 2019, Autogrill holds 0.07% of treasury shares
EDIZIONE GROUP PROFILE 5 CONSOLIDATED FINANCIAL HIGHLIGHTS
(Millions of Euro) 2019 % on revenue 2018 Restated % on revenue
Revenues 17,928 13,153
Operating result 1,953 10.9% 2,043 15.5 %
Net income, Group 55 0.3 % 184 1.4 %
Total shareholders’ equity 21,418 22,335
Net financial indebtedness 40,484 39,262
Cash Flow 1 6,709 3,492
Employees 2 80,044 82,100
1 Calculated as Net income before minority interests plus depreciation, amortisation, impairment and provisions 2 Full time equivalent
EDIZIONE GROUP PROFILE 6 Revenues by sectors Revenues by geographies
(Millions of Euro) (Millions of Euro) 2018 2019 2018 2019
Total revenues +36% Total revenues Total revenues +36% Total revenues 13,153 17,928 13,153 17,928
82 522
1,236 4,774 5,393 15,000 +8% 15,000 +14% 76 459 -7% 1,325 3,242 +47% 5,391 5,113 +5% 10,000 11,217 10,000
2,545 +112%
7,241 6,907 +5% 5,000 6,639 +69% 5,000
≥ Transport Infrastructure ≥ Italy ≥ Food and Beverage ≥ Rest of Europe ≥ Clothing and Textiles ≥ Americas ≥ Other ≥ Rest of the World
Revenues by sectors 2019 Revenues by geographies 2019
1 Other 2019 2019 ricavi settore ricavi paesi 3 Rest of 7 Clothing and the World Textiles Transport 62 Infrastructure 27 Americas