Annual Report 2016 The Quarto Group, Inc. Annual Report 2016 Christopher Corr Narodna priča Duboko u šumi stoji malena drvena kućica s devet krasnih prozora i crvenim ulaznim vratima. PLUS DE 100 INFOGRAPHIES Duboko POUR COMPRENDRE Kad jedan mišić zaključi da će to biti savršen dom, LES MYSTÈRES dođu i ostale šumske životinje – pa i veliki medo! Duboko u šumi DE L’UNIVERS C SM S DÉCOUVRIR L’ESPACE No, hoće li medo uspjeti popraviti stvar u šumi EN INFOGRAPHIES kad se njihova kuća treskom sruši? STUART LOWE & CHRIS NORTH Les incroyables progrès technologiques des dernières décennies nous permettent d’avoir enfin un aperçu réel de ce qu’est l’Univers, de sa pro- digieuse complexité, de ses phénomènes époustouflants se produisant à des échelles presque inimaginables et, plus que tout, de sa beauté à couper le souffle. Prelijepe ilustracije povest će vas u raskošan Mais comment appréhender des données qui se mesurent en années-lumière ? Comment comprendre le processus de la mort d’une bajkovit svijet ruske narodne priče. étoile ? Comment visualiser ce qu’est un trou noir, une exoplanète ou une supernova ? Comment se faire une idée de la probabilité d’une vie Biblioteka Dodo extraterrestre aux confins de la Voie lactée ? Naslov originala Deep in the Woods Copyright © Frances Lincoln Children’s Books, 2015. Ilustracije copyright © Christopher Corr, 2015. Grâce à une approche unique, ce livre, élaboré par deux Prvi put objavila kuća Frances Lincoln Children’s Books 2015. u Velikoj Britaniji astrophysiciens, offre une perspective nouvelle sur les COSMOS www.frenceslincoln.com Prevela i uredila Nataša Ozmec découvertes les plus récentes et l’histoire de la Grafičko oblikovanje hrvatskog izdanja Ermego d.o.o. conquête spatiale. Nakladnik Planetopija Za nakladnika Marina Kralj Vidačak Edgson Vicki Corrett Natasha Para a criativa chef vegetariana Natasha Corrett e a nutricionistakolovoz 2016. Vicki Edgson, uma dieta equilibrada deve ser baseada nos alimentos alcalinos,Tiskano u Kini. pois eles ajudam Sva prava pridržana. a manter o pH natural do corpo e facilitam aCIP digestão zapis je dostupan e a uabsorção računalnome katalogu de nutrientes. Nacionalne i sveučilišne knjižnice u Zagrebu pod brojem 000930911. Alimentos para Neste livro, elas ensinam mais de 100 receitas de dar água na boca, inseridas numa H T abordagem holística de saúde, para todas as refeições – do café da manhã à ceia. R ISBN 978-953-257-343-5 O N S As autoras explicam como iniciar a reeducação alimentar; trazem um quadro I R com o índice de alcalinidade dos principais ingredientes; orientam sobre os grupos H o bem-estar ISBN : 978-2-7114-2403-0 C alimentares e como balanceá-los; e sugerem atitudes para facilitar a incorporação & Restabeleça o equilíbrio e melhore E W O de novos hábitos ao cotidiano. Mostram ainda como colocar em prática a dieta com L T pratos deliciosos, como a Sopa de tomate, coco e9 pimenta; 789532 a Salada 573435 de beterraba, a saúde com a dieta alcalina R www.vigot.fr A 95,00 kn TU alho assado e quinoa com feta; a Fritada de batata-doce com endro; S VIGOT e o Sorvete de banana crocante, entre outros. CONTENTS VIGOT Natasha Corrett Vicki Edgson Alimentos para Alimentos para Fotos: Lisa Linder o bem-estar STRATEGIC REPORTChristopher Highlights 1 Möt några av naturens Quarto at a Glance Corr AU105_R2_Fre_PLC_R12 Size:413.5X252mm Spin:21.5mm mest äventyrliga djur på Our Imprints and Philosophy 4 FÖR denna upptäcktsfärd A Global Business ATLASATLAS6 i naturens värld. Growth Strategy 8 Chairman’s Statement 10 Utforska SJU VÄRLDSDELSKARTOR och lär känna djur Chief Executive Officer’s StatementÄVENTYRAREÄVENTYRARE 12 som lever och överlever på spektakulära vis genom årets Our Business Model and Strategy 16 Deep In TheWoods_PLC alla växlingar. I den här boken får du färdas med NARVALAR 2016 Portfolio Highlights EB320663_GP4B_CYS(1)_D:18 KHL-HD2 Size: W462mm X H306mm (15mm bleed)_ISO39L DJURENClient : FrancesI VÄRLDEN Lincoln på deras riskfyllda turer i jakt på mat under isen, uppfostra DeepintheWoods - CasedCover_CRO.indd 1 Our Key Performance Indicators 20 27.4.2016 19:19:28 ISBN 978-85-7914-519-3 ORANGUTANGUNGAR i Borneo, klättra i bergen med Risk Management, Principal Risks andEn Uncertainties samling av naturens 2 mest2 Kinas JÄTTEPANDOR och uppleva många andra Financial Review 24 Illustrerad Letherland av Lucy SPEKTAKULÄRA HÄNDELSER, MÄKTIGA mäktiga DJURÄVENTYR från jordens alla hörn. Divisional Review MIGRATIONER och SÄLLSAMMA30 Här finns fler än 30 spännande djur, så unga Our People BETEENDEN 36 naturäventyrare kan upptäcka hundratals roliga Corporate Responsibility and Sustainability 38 HH JACKET FINAL BRA 2.indd 1 2/14/14 4:22 PM Illustrerad av Lucy Letherland saker och nya fakta på varje sida i boken. Text av Rachel Williams GOVERNANCE och Emily Hawkins Board of Directors 40 Nominations Committee Report 42 Audit Committee Report 43 Remuneration Committee Report 46 Annual Report on Remuneration 55 Directors’ Report 62 Statement of Directors’ Responsibilities 67 Independent Auditor’s Report 69 FINANCIAL STATEMENTS Consolidated Income Statement 78 ISBN 978-91-7663-173-7Consolidated Statement of Comprehensive Income 79 bzaub ar er Consolidated Balance Sheet F lu 80 it p e 9789176631737 > M Consolidated Statement of Changes in Equity • 81 • Consolidated Cash Flow Statement 82 Tauch ein in die Natur und entdecke Carnovsky Notes to the Financial Statements 83 zehn der artenreichsten Lebensräume der Erde – Atlas of Animals_CVR_SWE.indd 1 Company Balance Sheet 116 2016-09-21 11:22 kunstvoll gestaltet vom Mailänder Designduo Carnovsky. Company Statement of Changes in Equity 117 Die beiliegende magische Farbzauberlupe macht die fantastischen Lebenswelten des Dschungels, der Ozeane, der Steppen und Wälder Notes to the Company Balance Sheet 118 sichtbar: Die Tiere des Tages sind durch die rote Lupe zu erkennen, Magische Welten die Tiere der Nacht durch die blaue und die Pflanzen durch die grüne. Five Year Summary 122 von Carnovsky • Text von Rachel Williams Was wird dir auf deiner Reise durch die Wildnis begegnen? Officers and Professional Advisors 123 Magische Welten Magische Entdecke verborgene Lebensräume mit der ISBN 978-3-7913-7282-2 Zauberlupe! 9 228273197387 7282_Magische Welten_cov.indd 1 18.05.16 09:56 The Quarto Group, Inc. Annual Report 2016 HIGHLIGHTS FINANCIAL REVENUE PUBLISHING REVENUE ADJUSTED2 PUBLISHING ($M) ($M) OPERATING PROFIT1 REPORT STRATEGIC ($M) 2016 188.4 2016 154.6 2016 21.7 2015 182.2 2015 145.4 20153 18.5 (LOSS)/PROFIT FOR ADJUSTED2 EARNINGS BASIC (LOSS)/EARNINGS THE YEAR1,3 PER SHARE (EXCLUDING PER SHARE ($M) BOOKS & GIFTS DIRECT) (CENTS) (CENTS) (5.3) 2016 2016 54.7 (28.5) 2016 20153 8.5 2015 46.0 20153 41.3 GOVERNANCE 1 Includes the contribution from acquired businesses in 2015 and 2016 and a reduced amortisation charge in 2016 arising from the review of useful lives of our titles, providing consistency across all imprints in the portfolio. Further details are set out in Note 1 and Note 30. 2 Adjusted measures are stated before amortisation of acquired intangible assets and other exceptional items. See Note 32 for further explanation of these alternative performance measures. 3 Restated for an error in our Books & Gifts Direct business with respect to the valuation of stock in transit at 31 December 2015 and prior periods. Further details are set out in Note 1. OPERATIONAL • Resilient performance in publishing business; revenue up 6%, operating profit up 17%. FINANCIAL STATEMENTS • Children’s publishing revenues up 34% with both organic and acquisitive growth. • Foreign rights revenues up 8% despite currency headwinds in certain markets. • Positive contribution from acquired businesses in 2016, Harvard Common Press and becker&mayer. • Extended value of backlist confirmed by review of useful economic lives of titles. • Group refocused on core publishing portfolio during the course of 2017 with new organisational and financial reporting structure. • Resignation of Group Chief Financial Officer Michael Connole. 1 Strategic Report QUARTO AT A GLANCE We are the leading global illustrated non-fiction book publisher. We create and own long-lasting content to make and sell great books that entertain, educate and enrich the lives of adults and children around the world. 400+ 48 10,000 EMPLOYEES IMPRINTS AND BUSINESSES BOOKS IN OUR CATALOGUE $37M 58% 40 ANNUAL INTELLECTUAL OF ANNUAL SALES YEARS PROPERTY INVESTMENT FROM BACKLIST FOUNDED IN 1976 STRATEGIC PRIORITIES ORGANIC ACQUISITION OPERATING INTELLECTUAL DISTRIBUTION GROWTH GROWTH MODEL PROPERTY DEVELOPMENT EFFICIENCIES INVESTMENT Read more on pages 16-17 2 The Quarto Group, Inc. Annual Report 2016 EIGHT MAIN PUBLISHING CATEGORIES STRATEGIC REPORT STRATEGIC BOOKS ON BOOKS ON BOOKS ON BODY, MIND, BOOKS ON INTERIORS, FOOD AND DRINK DESIGN, ART SPIRIT, PARENTING AND ARCHITECTURE, DIY, AND CRAFT RELATIONSHIPS PETS AND GARDENING GOVERNANCE BOOKS ON BOOKS ON FUN & IMAGINATIVE STATIONERY, KITS, CARS, TRAINS, BIOGRAPHY, BOOKS AND KITS CALENDARS AND MORE BOATS, MOTORCYCLES TRAVEL, HISTORY, FOR CHILDREN OF AND PLANES SPACE AND MORE ALL AGES SIX VALUES FINANCIAL STATEMENTS BE BE BE ACCOUNTABLE CONSISTENT CURIOUS Take responsibility Be clear, Try things, and do what concise and fail well, you say. clear-headed. do it quickly. BE BE BE PURPOSEFUL EXCELLENT COLLABORATIVE Do what you love Quality matters Use ‘we’ and bring and make in everything the best out in it happen. we do. each other. 3 Strategic Report OUR IMPRINTS AND PHILOSOPHY Our imprints make up a diversified portfolio that strengthens with each addition. They are supported by a central operational and financial platform, allowing our creative ecosystem to flourish without the distraction of non-core activities. Sales Quarto Suppliers Knows Experts Marketing Quarto Children’s Books Finance Illustrators Comms IT Media Freelancers Platform Foreign Publishing rights sales operations Board of Q Partners Directors Authors Customers Legal People 4 The Quarto Group, Inc. Annual Report 2016 STRATEGIC REPORT STRATEGIC CREATIVITY AT OUR VERY CORE In 1976, the founders of Quarto were to see.