Nota Integrativa
Total Page:16
File Type:pdf, Size:1020Kb
Annual Report 2016 WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f MEDIASET S.p.A. - via Paleocapa, 3 - 20121 Milan Share Capital Euros 614,238,333.28 fully paid up Tax Code, VAT number and inscription number in the Milan Enterprises Register: 09032310154 Website: www.mediaset.it WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f Table of Contents Consolidated Financial Statements 2016 Directors’ report on operations Corporate Boards ..................................................................................................... 1 Financial Highlights .................................................................................................. 2 Directors’ Report on Operations ................................................................................ 5 General economic trends ........................................................................................... 4 Development in the legislative framework in the television sector ................................. 9 Mediaset shares ..................................................................................................... 10 Significant Events and Key Corporate Transaction for the year ................................... 12 The Main Group companies ...................................................................................... 16 Group Profile and Performance Review by Business Segment ..................................... 17 Consolidated Performance by Geographical Area and Business Segment Economic Results ............................................................................................. 53 Balance Sheet and Financial Position .................................................................. 65 Parent Company Performance Economic Results ............................................................................................. 70 Balance Sheet and Financial Position .................................................................. 72 Reconciliation between Consolidated and Parent Company Net Profit and Shareholders’ Equity ........................................................................................ 75 Disclosure of the Main Risks and Uncertainties to which the Group is exposed .............. 76 Human Resources: Group .............................................................................................................. 86 Parent Company ............................................................................................... 94 The Company’s Commitment to the Environment and Culture .................................... 97 Disclosure Required by article 2428 of the Italian Civil Code .................................... 102 Other Information................................................................................................. 107 Events after 31 December 2016 ............................................................................ 110 Forecast for the year ............................................................................................ 111 Draft resolution ...................................................................................................... 112 WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f Mediaset Group 2016 Consolidated Annual Report Consolidated Financial Statements Consolidated Statement of Financial Position .......................................................... 114 Consolidated Statement of Income ......................................................................... 116 Consolidated Statement of Comprehensive Income ................................................. 117 Consolidated Statement of Cash Flows ................................................................... 118 Consolidated Statement of Changes in Shareholders’ Equity .................................... 119 Consolidated Statement of Financial Position and Statement of Income according to Consob Resolution n. 15519 dated 27 July 2006 .................................................... 120 Explanatory Notes General Information .............................................................................................. 123 Basis of Presentation and Accounting Policies for the preparation of the Financial Statements ............................................................ 123 Summary of the Accounting Standards and Measurement Criteria ............................ 124 Key Information relating to the scope of consolidation ............................................. 142 Business Combination ........................................................................................... 148 Segment Reporting ............................................................................................... 152 Notes on main Asset Items .................................................................................... 159 Notes on main Shareholders’ Equity and Liability Items ............................................ 178 Notes on the main Items of the Statement of Income ............................................... 192 Cash Flow Statement ............................................................................................ 201 Disclosures on Financial Instruments and Risk Management Policies ......................... 202 Share-based Payments ......................................................................................... 219 Related Party Transactions ................................................................................... 222 Commitments ...................................................................................................... 224 List of Equity Investments included in the Group’s Consolidated Financial Statements at 31December 2016 ........................................................................................... 225 Certification on the Consolidated Annual Financial Statements pursuant art- 154 – bis of Legislative Decree 58/98 .................................................. 227 Indipendent Auditors’ Report .................................................................................... 231 WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f Mediaset S.p.A. 2016 Annual Report Financial Statements Statement of Financial Position ............................................................................. 236 Statement of Income ............................................................................................ 238 Statement of Coprehensive Income ........................................................................ 239 Statement of Cash Flows ....................................................................................... 240 Statement of Changes in Shareholders’ Equity ........................................................ 241 Statement of Financial Position according to Consob resolution n. 15519 of 27 July 2006 ....................................... 242 Statement of Income according to Consob resolution n. 15519 of 27 July 2006 ....................................... 244 Explanatory Notes General Information .............................................................................................. 246 Adoption of International Accounting Standards ..................................................... 246 Basis of presentation, accounting policies for the preparation of the financial statements and measurement criteria ................. 246 Other Information................................................................................................. 262 Notes on main Asset Items .................................................................................... 269 Notes on main Shareholders’ Equity and Liability Items ............................................ 279 Notes on the main Items of the Statement of Income ............................................... 294 Investment Commitments and Guarantees .............................................................. 304 Disclosures on Financial Instruments and Risk Management Policies ......................... 305 Attachments ........................................................................................................ 318 Report of the Statutory Auditors and the External Auditors ..................................... 323 Certification on the Annual Financial Statements pursuant art- 154 – bis of Legislative Decree 58/98 .................................................. 343 Summary Tables of main economic and financial data of Companies Included in the Consolidation Area........................................................... 347 Compensation Report Report on Corporate Governance and the Company’s Ownership Structure WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f Mediaset Group Annual Report 2016 WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f Mediaset Group Consolidated Annual Report 2016 Directors’ Report on Operations WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f WorldReginfo - 6ad37a91-0e07-4c1a-b945-5f7e42b8688f CORPORATE BOARDS Board of Directors Chairman Fedele Confalonieri Deputy Chairman and Chief Executive Officer Pier Silvio Berlusconi Directors Giuliano Adreani Marina Berlusconi Franco Bruni Pasquale Cannatelli Mauro Crippa Bruno Ermolli Marco Giordani Fernando Napolitano Gina Nieri Michele Perini Alessandra Piccinino Niccolo' Querci Stefano Sala Carlo Secchi Wanda Ternau Executive Committee Fedele Confalonieri Pier Silvio Berlusconi Giuliano Adreani Marco Giordani Gina Nieri