2021

Donna Moderna, the magazine that is a point of reference in the women’s segment, is launching a project dedicated to the issue of sustainability and biodiversity.

An initiative that will actively involve the title’s community, which now has a total audience of 12.2 million net users, in addition to almost 3 million fans on social networks: from a special issue that will make an all-round examination of the issue of sustainability, to a challenge that will encourage readers to adopt sustainable lifestyles and a project to create Italy’s largest urban apiary in Milan.

“We have put together a collector’s issue, full of memorable stories, like that of Laura Conti, Italy’s leading ecologist. And enriched with big names: Michela Murgia told us about the green revolution of Pope Francis, Sara Rattaro about the discoveries of the first ethologists and Fabio Genovesi the unpublished story of a child and his education in nature. It is an issue to be kept also for the wealth of green advice in all areas, from furniture to cooking, and from wellness to travel. And with an awareness that the smallest gestures each of us can have an important impact in delivering a healthy planet to future generations,” declared Annalisa Monfreda, editor of Donna Moderna.

A special issue
Starting from the issue on newsstands this week. An extraordinary issue with features and services that talk about sustainability from different points of view, from the re-use of plastic to water and energy saving, and with the contribution of exceptional testimonials committed to the environment.

For the first time, this special has been produced with 100% recycled paper, enhanced by a graphic design and layout with green graphic elements, created exclusively for the magazine, to represent the themes of the project.

The cover star is the actress Valeria Solarino, chosen by Donna Moderna for her commitment to a sustainable and essential lifestyle.

The launch event
This Donna Moderna special project will be launched in a phygital event to be held tomorrow 24 March at 6.30 pm at the Fabbrica dell’Aria, the first scientific and technological innovation project to filter and purify indoor air, conceived by the internationally renowned scientist Stefano Mancuso and located at the Green Media Lab in Milan.

The event will also feature a talk involving Stefano Mancuso and Anna Favella, actress and sustainable thinker, Alessandro Armillotta, CEO of AWorld and Giovanni Storti, actor and green activist.

The challenge
The second phase of the project proactively involves the Donna Moderna community: in a challenge, users and readers will be asked to adopt sustainable behaviours with a direct and measurable impact in CO₂ savings. To this end, Donna Moderna has signed a special partnership with AWorld, the app selected by the UN to educate consumers on the impact of daily actions on the environment and to encourage the creation of new, more sustainable and traceable habits. Thanks to the app, users can participate every day and calculate the amount of CO₂ saved for each habit adopted, and actively contribute to the magazine’s goal of a reduction of at least 50 tonnes of CO₂ in a month.

The beekeeping project
At the end of the challenge, Donna Moderna will contribute to the commitment shared with its community, taking concrete action in support of the environment and society.
On 22 April, on the occasion of Earth Day, Donna Moderna in collaboration with Green Island/Alveari Urbani, will present the biggest Italian urban beekeeping project at Cascina Merlata and the gardens of San Faustino in Milan, with the installation of 17 wooden hives, which will host 17 bee families, giving life to and ensuring the survival of more than 1,000,000 European bees.

A beekeeping initiative that aims to promote the reintroduction of bees in urban contexts, a fundamental step in enhancing biodiversity and a properly functioning ecosystem.

The social media campaign
The project’s storytelling will also be developed for the duration of the initiative on the Donna Moderna website and social media channels in order to raise awareness and directly involve the community in the challenge and the adoption of behaviours with a lower environmental impact.

The launch of the new special issue will be supported by an advertising campaign created by CasiraghiGreco &, and planned on print, digital, social media, radio and digital out-of-home in the core areas of Milan.

Institutional partners of the project: Green Media Lab – AWorld – Urban Beehives – Earth Day.

Sponsor of the initiative:
The entire initiative was supported by the main sponsor Finish, which together with Donna Moderna created a storytelling dedicated to sustainable actions to promote the responsible use of water in the special issue and on the social media of the magazine. In fact, since 2019 Finish has been involved in the “Water in our hands” project which aims to spread an ever-greater awareness of new behaviour patterns and new consumption habits that can protect and safeguard this extremely precious resource for the life of the planet but which, unfortunately, is limited.

***

The Mondadori Group
For over 110 years, the Mondadori Group’s mission has been to promote the dissemination of culture and ideas, guaranteeing a quality entertainment offer to the widest possible audience. Leader in the book market and Italy’s leading multimedia publisher, Mondadori has embarked on a path of social responsibility that includes the promotion, on all its channels, of quality content that rewards plurality of thought, inclusion and diversity, and with an approach that is always aimed at innovation.
Mondadori’s commitment can be seen from a series of activities in support of the communities in which the Group operates: from the promotion of reading and education to training and social and health care.
The Group has also developed a range of initiatives aimed at reducing the environmental impact of its offices and bookstores, which has resulted in a significant reduction in greenhouse gas emissions and led to an increase in the use of certified paper in the production of books and magazines.

Sources:
Nielsen Media Impact data Fusion May 2020
Shareablee different TikTok and Pinterest sources February 2021

Today, the meeting of the Board of Directors of Arnoldo Mondadori Editore S.p.A., chaired by Marina Berlusconi, reviewed and approved the draft Parent Company and Group consolidated financial statements at 31 December 2020 presented by CEO Ernesto Mauri.

2020 HIGHLIGHTS
2020 was marked by the effects of the COVID-19 health emergency and the resulting application from March of containment measures that greatly curtailed economic activities and the businesses in which Mondadori operates and is a leader^[1], leading to a severe economic crisis.

Against this backdrop, the Mondadori Group was able, on the one hand, to benefit from the resilience shown by the Books market – today the major business component, contributing 92% to the Group’s profitability – and, on the other, to take a series of targeted actions in a timely and effective manner.

These actions were aimed both at guaranteeing its employees safe working conditions – also by encouraging smart working – and at allowing business continuity.

In order to protect Group profitability, an effective plan was launched to contain operating and structural costs of approximately € 48 million, which enabled the company to increase efficiency and sustain profitability even in a severely deteriorated context.

The measures adopted by Management included social shock absorbers, further actions to contain payroll costs – such as a freeze on pay policies, the use of holidays, a hiring freeze -, significant savings on discretionary spending, such as marketing and advertising, as well as the renegotiation of lease agreements on the network of bookstores.

More specifically, mention should be made that the books market in 2020 showed an extraordinary resilience: following the gradual reopening of bookstores after the first lockdown, the segment witnessed a steady recovery, peaking in an approximately 17% growth in the fourth quarter (versus the same period of 2019); with regard to the full year, the market increased by 3.3%.

A strong contribution to the buoyancy of the books market came from the development of the e-commerce channel, which saw double-digit growth in 2020, and from the increased penetration of digital books (e-books and audio-books), which made for 7.4% of total segment revenue.

PERFORMANCE AT 31 DECEMBER 2020
Taking account of the situation of general crisis surrounding the Group, the results achieved in 2020 are far higher than those initially indicated and forecast and are truly outstanding, in the face of the restrictions imposed by the emergency situation.

Consolidated revenue amounted to € 744 million, down by 15.9% versus € 884.9 million in 2019. Net of the change in the scope of consolidation of the Media area from the disposal of the five titles at end 2019, revenue fell by approximately 14%, due mostly to the effects of COVID-19.

Adjusted EBITDA amounted to € 98.1 million, down by € 12.3 million versus 2019 (€ 110.4 million). This performance reflects both the significant effects of the quick response and countermeasures implemented by the Group to tackle the consequences of COVID-19 – which enabled it to curb operating and structural costs by approximately € 48 million – and the grants acknowledged for the exhibitions suspended, cancelled or postponed due to the pandemic.

With regard to the Group as a whole, special mention should be made of the profitability percentage, amounting to 13.2% versus 12.5% recorded in 2019, proof of the effectiveness of the operational efforts made.

EBITDA amounted to € 84.6 million, down by approximately € 18 million versus € 102.9 million in the prior year, due to the above trends and higher non-recurring negative items totaling € 6 million.

EBIT amounted to € 14.8 million, down by approximately € 48 million versus 2019, due to higher amortization, depreciation and write-downs for a total of approximately € 30 million: mention should be made of the write-down of TV Sorrisi e Canzoni, other brands and goodwill for a total of € 26.5 million, in addition to the start of the amortization process of TV Sorrisi e Canzoni (€ 3.5 million). The write-off, resulting from the impairment test, is attributable mainly to the strong discontinuity in the relevant markets of the magazines business, which accelerated the downward trend in advertising sales, relating in particular to traditional print activities, and to circulation trends in the newsstands and subscriptions channels.

Consolidated profit before tax came to € 1.5 million versus € 50.6 million in 2019. In addition to the above, the drop was affected also by the greater financial expense (from € 2.2 million to € 4.1 million) from the recognition of two positive components in 2019: income related to the adjustment of amortized cost under IFRS 9 and a substitute tax refund.

The adjustment of the amount of the remaining investment in Reworld Media to the stock market price at 31 December 2020 (€ 3.17 versus € 2.75 at 31 December 2019), together with the sale of the company’s shares in the fourth quarter of the year, resulted in the recognition of a capital gain of € 0.6 million.

The result of the associates (consolidated at equity) came to a negative € 7.3 million, improving however versus 2019, thanks also to the halved investment in the company that publishes Il Giornale (SEE), although largely offset by the further deterioration in the result of the other investments in the Media area (Attica Publications, SEEC) and of Mediamond, due to the economic trend.

The Group’s net profit, after minority interests, came to € 4.5 million^[2] versus € 28.2 million in 2019 (which included € -2.6 million from the discontinued operations of Mondadori France).

The net financial position before IFRS 16 at 31 December 2020 stood at € -14.8 million, a sharp improvement versus € -55.4 million at end 2019, due to the significant cash generation recorded in the year.

The IFRS 16 net financial position stood at € -97.6 million and includes the financial payable from the application of IFRS 16, totaling € 82.8 million.

Cash flow from ordinary operations amounted to € 51.2 million, up versus € 48.4 million in 2019 (continuing operations), due also to the grants^[3] received, confirming the ability of the business to steadily generate cash, even in a highly deteriorated context.

Group employees amounted to 1,845 units, down by approximately 9% versus 2,018 units at 31 December 2019, as a result of the continued efforts to increase the efficiency of the individual business areas.

BUSINESS OUTLOOK
The ability demonstrated by the Mondadori Group in 2020 to react promptly to a strongly deteriorated context, as well as the financial solidity shown by the capital position at year end, give reasons, from an operational point of view, to be optimistic all in all on the future development of the business and the results that the Group can achieve in the new year.

From a strategic point of view, the Group has all the managerial and financial resources required to continue along the path of strengthening its core businesses, of expanding into new segments in or adjacent to publishing, and of rationalizing, if possible, non-strategic activities consistently pursued in recent years, including through M&A operations.

More specifically, in 2021 the Mondadori Group intends to continue to consolidate its leadership in the Books area – both in the school textbooks and Trade publishing segments, increasing its relevance and impact on the Group’s overall activities – and to complete its skills and solutions in the digital area.

As for the Group’s operating-financial targets, referring to a business scope unchanged from today’s:

• Revenue and EBITDA

In line with the outlined strategy and in light of the relevant context, the operating targets for 2021 envisage estimates pointing to a slight growth in revenue (low single-digit) and an adjusted EBITDA that reflects margins between 11% and 12%, in a context – in the absence of the grants received in 2020 – that shows a substantial stability of the Group’s operating profit.

This is the result of a renewed effort to contain costs aimed at countering the lack of temporary measures, relating primarily to payroll costs, which brought benefits to the Group last year.

• Net profit

The net result in 2021 is expected to grow strongly due also to two “one-off” effects:

• the impact on the 2020 results of the write-down of certain balance sheet items, which is currently not expected to repeat in the new year;
• the likely resort by the Group to tax redemption on part of the intangible asset, which would give rise to recognition of a positive tax component.
• Business Units

The outlook for the individual Business Units is as follows:

• Trade books: the area is expected to operate in a low growing market with a competitive publishing plan that should enable it to achieve higher growth rates than the market and, therefore, to increase its market share. The increase in operating costs attributable, as mentioned, mainly to the lack of social shock absorbers, cannot be totally neutralized by the efficiency measures planned by Management, consequently, eating away, albeit moderately, the operating profit generated by the business unit;
• School textbooks: the forecast of greater changes in book adoptions authorizes expectations on market and revenue growth for the business unit. The more subdued growth (versus the Trade area) in operating costs is neutralized by the cost-cutting policies implemented by Management, allowing the area to keep profitability basically steady;
• Museums: the easing of COVID-19 restrictions on the management of museum activities gives reasons to suggest a modest “restart” and a moderate improvement in revenue and profitability, net of compensation and grants received in 2020;
• Retail: the deep organizational and process review, the rationalization strategy on the portfolio of stores, the continued focus on the book product as part of a broader streamlined offering are expected to bring a sharp increase in profitability;
• Media: recovery of both the print and digital advertising market versus 2020; with overall revenue of the area in slight decline, percentage profitability basically steady thanks to the continued optimization of the structures, and the continued strengthening of the digital area.
• Cash Flow and Net Financial Position

In 2021, the Group is expected to confirm the cash-generating capacity shown in recent years, in a 2020 year marked by adverse events. Specifically, forecasts on the new year indicate that cash flow from ordinary operations will range between € 40 million and € 45 million.

These forecasts suggest, in the absence of transformational acquisitions and excluding the impacts of the adoption of the accounting standards under IFRS 16, a positive consolidated net financial position at year end.

Conversely, taking account of the impact of IFRS 16, indications point to a Group financial debt no greater than 0.8x adjusted EBITDA.

As already mentioned, financial strength gives reasons to believe that during the year the Group will be able to firmly and actively pursue any acquisition opportunities that may arise, as well as to pave the way for a return to a shareholder remuneration policy from 2022, applied to the net result of 2021.

PERFORMANCE OF BUSINESS AREAS

• BOOKS

Owing to the COVID-19 emergency and the relating health measures adopted, at the end of the first half, the Trade Books market had lost 10.1% in terms of value versus 2019, the result of a reduction generated mainly in March (-29.2%) and April (-45.8%).

The strong growth witnessed in the third quarter (+8.4% versus 2019) and especially in the fourth quarter (+16.8% versus 2019) helped the market make a strong recovery, materializing at the end of the year in a 3.3% increase in terms of value^[4], driven mainly by the double-digit growth of the e-commerce channel.

Against this backdrop, the Mondadori Group retained its leadership position with a 24.8% market share.

In 2020, 4 titles from the Group’s publishing houses ranked among the top ten bestselling books in terms of value of the year, and 10 titles among the top twenty^[5].

In particular: “Fu sera e fu mattina” by K. Follett (Mondadori) in first position overall, “Insieme in cucina” by B. Rossi (Mondadori Electa), sixth, “Come un respiro” by F. Ozpetek and “La misura del tempo” by G. Carofiglio (Einaudi), ninth and tenth respectively.

In the school textbooks segment, whose market suffered an estimated 7% decline due to the pandemic^[6], the Mondadori’s Group publishing houses achieved a market share of 22.1%, higher than in 2019, thanks to the positive results of the 2020 adoption campaign.

Revenue in the area in 2020 amounted to € 422.9 million, down by 11.6% versus € 478.4 million of the prior year. Specifically:

• the Trade area fell by 5.6%;
• the Educational area dropped by 16.7%, due to the interruption of museum activities: owing to the restrictions to contain the pandemic, the area saw its operations severely impacted by the closure of sites and exhibitions, and by the virtual collapse of tourist travel also throughout the summer season.

In the last quarter of the year, however, museum activities were able to benefit from grants which partly offset, at the margin level, the effects of the closures of archaeological sites and the suspension of exhibitions, and other measures to contain the contagion.

Revenue from the sale of e-books and audiobooks, which accounted for 7.8% of total publishing revenue in 2020, rose sharply (+27.1%), driven by the lockdown period (March-May) which curtailed operations of the physical channel. Listening hours of the audiobook catalogue jumped by over 87% versus 2019, while downloads of e-books increased by 21.9%.

Adjusted EBITDA in the Books area stood at € 87.5 million versus € 94.5 million in 2019, down mainly as a result of the negative trend of revenue from the Trade area and museum activities, only partly offset by the grants received which, net of the related provisions made, amounted to approximately € 8 million.

Reported EBITDA amounted to € 84.8 million versus € 94 million in 2019, with a trend consistent with the above dynamics.

EBIT amounted to € 69.4 million versus € 81.4 million in 2019, dropping more due partly to higher amortization and depreciation recognized in 2020 resulting from higher investments related to the creation of school textbooks in the Educational area.

• RETAIL

As previously mentioned, the books market (which generates over 80% of revenue^[7] in the area) showed significant growth in 2020 versus 2019 (+3.3%^[8]), driven mainly by the double-digit increase in sales in the e-commerce channel, which benefited from the restrictions imposed on the physical channels by the COVID-19 emergency: during the year, the authorities imposed the closure from 12 March 2020 until early May (first lockdown) of physical bookstores throughout the Country, as well as the points of sale located in shopping centres, for several public holidays and pre-holidays and on weekends in the last quarter of the year (second lockdown).

In 2020, as a result of the above government measures, the Retail area reported revenue of

€ 153.7 million, down by € 33.2 million (approximately -18%) versus € 186.9 million in 2019, of which approximately half related to products other than Books.

If in the first six months of the year, sales were 27.5% lower than in the same period of 2019, in the second half of the year, Mondadori Retail saw its performance improve (-10.2% versus 2019), due in particular to the strong rebound of the Book product. This rebound was achieved mostly in the third quarter, which recorded basically steady revenue versus the prior year, while the final months of the year were affected by the introduction of new restrictions.

With regard to the trend of revenue by channel, mention should be made of the improved performance of franchised stores versus the network of directly-managed stores, whose operations were impacted more by the restrictive measures imposed by the authorities, and the significant growth of online operations (+47.7% versus 2019).

Despite the sharp decline in revenue, Mondadori Retail’s adjusted EBITDA in 2020 came to a positive € 1.3 million, down only by € 3.8 million versus 2019.

A result achieved thanks to heightened maintenance and renewal of the network of physical stores (opening of 18 franchised stores and 2 directly-managed stores), careful cost management and a deep organizational and process revision carried out in the second half of 2019 and continued even during the harshest period of the health emergency.

Reported EBITDA amounted to € –2.7 million (versus € +2.9 million in 2019), due to extraordinary items, which mainly include restructuring costs and closure of a dispute related to IMU tax for 2013 – 2019.

EBIT (which includes, under IFRS 16, among the cost components, imputed depreciation relating to directly-managed stores) amounted to € -13 million (versus € -7.7 million in 2019) and was equally impacted by the above extraordinary components.

• MEDIA

In 2020, the advertising market posted an overall 15.3% decline, heavily affected by the impact of the COVID-19 health emergency. All channels fell during the period, including digital -0.8% and magazines -36.6%^[9].

The digital advertising segment alone showed a clear reversal from third quarter 2020, growing by approximately 12% in the fourth quarter versus the same period of the prior year.

In 2020, the magazines circulation market the in newsstands and subscriptions channels, dropped by 11.8%^[10]. The add-on segment reported a negative -17.5% for add-ons bundled with magazines^[11].

Against this backdrop, the Mondadori Group retained its position as Italy’s leading multimedia publisher: in print, with a circulation market share of 24.2%^[12] and 10.2 million readers (6.8 million of whom women)^[13]; on the web, with a reach in December of 83.5% and approximately 34 million unique users in December 2020^[14]; in social media, with an aggregate fan base of 36.5 million people and 106 profiles^[15].

In 2020, the Media area recorded revenue of € 197.6 million (-23% versus € 256.6 million in 2019; -17.5% net of the titles sold at end 2019).

In the fourth quarter of the year, the drop was 18.2% (approximately -12.8% on a like-for-like basis), with a strong upswing in digital operations which grew by 17.3% (+20.8% on a like-for-like basis) versus fourth quarter 2019.

Specifically, in 2020:

• advertising revenue was down by a total of approximately 28%; this is the form of revenue most affected by the ongoing health emergency, which led to the cancellation in 2020 of an important event such as the Salone del Mobile. Net of scope discontinuities, the reduction would be 23%, with the print segment down -41% and digital advertising sales basically steady (+0.3% versus 2019).

In the last quarter of the year, against the persisting decline, albeit mitigated, in revenue from print media (down by approximately -22% on a like-for-like basis), revenue from digital advertising grew by approximately 21%, as already mentioned.

• circulation revenue (newsstands and subscriptions) was down by approximately 24%, due both to the disposal of the above five titles and the impact of COVID-19; on a like-for-like basis, the fall would be approximately 14%.
• revenue from add-on products fell by approximately 26% versus 2019 (down by approximately -24% net of the disposal of the five titles).

In 2020, digital revenue as a percentage of the business unit’s total advertising revenue amounted to 57% (from 42% in 2019).

Adjusted EBITDA in the Media area amounted to € 7.9 million in 2020, down by approximately € 3.3 million versus € 11.3 million in 2019.

The sharp drop in revenue was alleviated by the effective measures to contain operating costs, which curbed their negative impact on profitability, and by the excellent result of digital operations, which generated higher margins than in 2019.

Against slightly declining revenue, digital operations in fact recorded a growth in adjusted EBITDA, up from € 7 million to € 7.2 million, with a margin of over 20%.

In the last quarter of 2020, Mondadori Media recorded adjusted EBITDA of € 4.7 million, down by € 1.1 million versus the same period of the prior year, but recovering versus the trend seen in the first nine months of the year due to the combined effect of:

• the positive performance of digital advertising, which contributed in the quarter under review to an increase in margins of approximately € 1 million versus fourth quarter 2019
• the abovementioned continued cost containment actions, which partly offset the decline in profitability of print operations versus fourth quarter 2019.

Reported EBITDA amounted to € 3.7 million versus € 9.4 million in 2019.

EBIT came to € –30.6 million versus € 1.1 million, due to the start of amortization of TV Sorrisi e Canzoni (for a total annual amount of € 3.5 million) and the concurrent non-recurring write-downs of the title, other brands and goodwill for a total of € 26.5 million, which impacted only on this area.

PERFORMANCE OF ARNOLDO MONDADORI EDITORE S.P.A.
As from 1 January 2020, all the activities referring to the print and digital magazines, as well as the investments in the Magazines Italy area, were transferred to Mondadori Media S.p.A. (100% owned by Arnoldo Mondadori Editore S.p.A.). For a clearer understanding and comparison of results, the Company’s income statement at 31 December 2020 is also compared with the income statement of the prior year, which is presented pro forma to take account of the changed scope due to the contribution of assets and the disposal of titles in December 2019.

The Parent Company’s income statement at 31 December 2020 shows the same profit as in the consolidated financial statements of € 4.5 million (€ 29.6 million in 2019), due to the fact that the Company has chosen to use the equity method to measure its investments in the separate financial statements.

Revenue, amounting to € 45.1 million, was up versus € 38.5 million of the prior year, due mainly to the accounting of revenue recognized for services provided to the company set up in 2020, Mondadori Media S.p.A. (the Corporate and Shared Services business area and the Magazines area were included in the same company, Arnoldo Mondadori Editore S.p.A. in 2019).

Adjusted like-for-like EBITDA dropped slightly from € -0.4 million to € -0.9 million, resulting mainly from higher costs related to labour management during the COVID-19 pandemic.

The year 2020 includes net negative extraordinary items of € 3.3 million, attributable mainly to M&A costs versus € 3 million in 2019.

The Company’s net profit, after tax income of € 8.6 million recognized in 2020, which includes the tax receivable arising from the use of the “Patent box” facility of € 5.2 million, amounted to € 4.5 million (versus € 29.6 million in pro forma 2019).

The Board of Directors of Arnoldo Mondadori Editore S.p.A. has convened the Ordinary Shareholders’ Meeting on Tuesday 27 April 2021 in first call to approve the financial statements for the year ended 31 December 2020 and, if required, in second call for Wednesday 28 April 2021.

PROPOSED ALLOCATION OF THE PARENT COMPANY’S NET PROFIT TO THE EXTRAORDINARY RESERVE
The Board of Directors will propose to the Shareholders’ Meeting, called on Tuesday 27 April 2021 in first call (in second call on Wednesday 28 April 2021), to fully allocate to the extraordinary reserve the net profit resulting from the financial statements for the year ended 31 December 2020 of Arnoldo Mondadori Editore S.p.A., equal to € 4,502,600.02.

SIGNIFICANT EVENTS AFTER YEAR-END
On 29 January 2021, with a view to further strengthening its foothold in the digital world, the Group completed the acquisition of Hej!, a company that specializes in tech advertising, a sector where Mondadori already operates successfully through AdKaora, a leading media agency in the field of mobile advertising and proximity marketing.

On 15 February 2021, the Group completed the sale of its investment in Reworld Media (from the original 16.3% stake to 3.2% at 31 December 2020), realizing an overall gain of approximately € 1.1 million.

PROPOSED RENEWAL OF THE AUTHORIZATION TO PURCHASE AND DISPOSE OF TREASURY SHARES
Following the expiry of the previous authorization resolved upon by the Shareholders’ Meeting on 22 April 2020, with the approval of the financial statements at 31 December 2020, the Board of Directors will propose to the next Shareholders’ Meeting the renewal of the authorization to purchase and dispose of treasury shares with the aim of retaining the applicability of law provisions in the matter of any additional buyback plans and, consequently, of seizing any investment and operational opportunities involving treasury shares.

Below are the key elements of the Board of Directors’ proposal:

• Motivations

The motivations underlying the request for the authorization to purchase and sell treasury shares refer to the opportunity to attribute to the Board of Directors the power to:

• to use the treasury shares purchased as consideration in the acquisition of interests as part of the Company’s investment policy;
• to use the treasury shares purchased against the exercise of option rights, including conversion rights, deriving from financial instruments issued by the Company, its subsidiaries or third parties and to use the treasury shares for lending, exchange or transfer transactions or to support extraordinary transactions on the Company’s capital or financing transactions that imply the transfer or sale of treasury shares;
• to undertake any investments, directly or through intermediaries, including for the purpose of containing abnormal movements in share prices, stabilizing share trading and prices, supporting the liquidity of the share on the market, in order to foster the regular conduct of trading beyond normal fluctuations related to market performance, without prejudice in any case to compliance with applicable statutory provisions;
• to rely on investment or divestment opportunities, if considered strategic by the Company, also in relation to available liquidity;
• to dispose of treasury shares as part of share-based incentive plans pursuant to Article 114-bis of the TUF, and of plans for the free allocation of shares to employees or members of the governing or supervisory bodies of the Company or of an associate or to Shareholders.
• Duration

The authorization to purchase treasury shares is set to last until the approval of the financial statements for the year ending 31 December 2021, while the authorization to sell is requested to last for an unlimited period, given the absence of provisions in this regard pursuant to the provisions in force and the opportunity to allow the Board of Directors to make use of the maximum flexibility, also in terms of time, to carry out the acts of disposal of the shares.

• Maximum number of purchasable treasury shares

The new authorization would allow the purchase, including in more than one tranche, of ordinary shares of Arnoldo Mondadori Editore S.p.A., with a par value of € 0.26 each, in one or more tranches in an amount freely determinable by the Board of Directors – up to a maximum number of shares – also taking into account the ordinary shares held, directly and indirectly, in the portfolio from time to time – of no more than 10% overall of the share capital, in accordance with Article 2357, paragraph 3, of the Italian Civil Code.

• Criteria for purchasing treasury shares and indication of the minimum and maximum purchasing cap

The purchases would be made in compliance with the principle of equal treatment of shareholders under Article 132 of the TUF, in accordance with any of the procedures set out in Article 144-bis of the Issuer Regulation, to be identified from time to time, and any other applicable regulations, as well as, where applicable, the market practices allowed from time to time in force.

Additionally, share purchase transactions may also be carried out in the manner envisaged in Article 3 of EU Delegated Regulation no. 2016/1052 in order to benefit, if the conditions are met, from the exemption under Article 5, paragraph 1, of EU Regulation no. 596/2014 on market abuse with regard to inside information and market manipulation.

As far as disposal transactions are concerned, the authorization would allow the adoption of any appropriate method to fulfill the purposes pursued – including the use of treasury shares to service stock incentive plans and/or the transfer of real and/or personal rights and/or stock lending – to be carried out either directly or through intermediaries, in compliance with the relevant laws and regulations in force.

Without prejudice to the fact that purchases of treasury shares would be made in accordance with the time limits, conditions and requirements established by the applicable Community legislation and by the Admitted Market Practices, the minimum and maximum purchase price would be determined for a unit price not lower than the official Stock Exchange price of Arnoldo Mondadori Editore S.p.A. shares on the day preceding the purchase transaction, reduced by 20%, and not higher than the official Stock Exchange price on the day preceding the purchase transaction, increased by 10%.

However, in terms of purchase prices, the additional conditions set forth in Article 3 of the above EU Delegated Regulation 2016/1052 would apply.

With regard to the provisions of Article 2357, paragraph 1, of the Italian Civil Code, purchases would in any case be made within the limits of the available “extraordinary reserve” as shown in the last duly approved financial statements.

In any case, purchases would be made, in terms of definition of volumes and unit prices, in accordance with the conditions governed by Article 3 of EU Delegated Regulation 2016/1052, and in particular:

• no shares shall be purchased at a price higher than the higher between the price of the last independent trade and the price of the highest current independent bid on the trading venue where the purchase is carried out;
• in terms of volumes, no more than 25% of the average daily trading volume of Arnoldo Mondadori Editore S.p.A. shares shall be purchased in the 20 trading days prior to the dates of purchase.

Purchases instrumental in the support to market liquidity shall also be made in accordance with the conditions provided by the admitted market practices.

To date, Arnoldo Mondadori Editore S.p.A. holds a total of no. 1,838,326 treasury shares, equal to 0.703% of the share capital.

For further information on the proposed authorization for the purchase and disposal of treasury shares, reference should be made to the Directors’ Explanatory Report, which will be published within the time limits and in the manner prescribed by applicable regulations.

GRANTING OF SHARES UNDER THE 2018-2020 PERFORMANCE SHARE PLAN: DISCLOSURE PURSUANT TO ARTICLE 84-BIS, PARAGRAPH 5 OF CONSOB REGULATION NO. 11971/1999
The Board of Directors, on the proposal of the Remuneration and Appointments Committee, resolved to grant, effective from 14.5.2021, a total of no. 878,347 Arnoldo Mondadori Editore S.p.A. shares to 8 beneficiaries, in implementation of the provisions contained in the “2018-2020 Performance Share Plan” established by the Board of Directors on 13 March 2018 and subsequently approved by the Shareholders’ Meeting on 26 April 2018 (the “2018-2020 Plan”).

Mention should be made that the 2018-2020 Plan takes the form of a share granting plan and grants its beneficiaries the right to receive, free of charge, shares in the Company provided that, at the end of a reference period of three financial years, the performance targets set in the 2018-2020 Plan have been achieved.

The 8 beneficiaries of the 2018-2020 Plan are the Chief Executive Officer and 7 managers identified by name by the Chief Executive Officer, as delegated by the Board of Directors.

The characteristics of the 2018-2020 Plan are explained in detail in the Directors’ Report to the Shareholders’ Meeting of 26 April 2018 and in the information document contained therein, available on mondadori.it, Governance section, to which reference should be made.

Attached is the information required by Schedule 7 of Annex 3A to CONSOB Regulation no. 11971/1999 to account for the granting of shares in the context of the 2017-2019 Performance Plan.

The Board of Directors, on the favourable opinion of the Remuneration Committee, approved the granting of an accelerated vesting schedule on the 2019-2021 Performance Share Plan to the Chief Executive Officer, who has decided to end office, as a more favourable condition in line with the provisions of the relevant Regulation in the event of good leaving for the specific case. Accordingly, the Chief Executive Officer will be granted no. 770,142 shares effective 14.5.2021. A return condition applies in the event that the overall results of the Plan, upon approval of the 2021 financial statements, are not in line with the targets set out in the Plan.

With regard to the prior notice of 10 November on Ernesto Mauri’s decision to end his experience as Chief Executive Officer of the Mondadori Group, the Board of Directors resolved to integrate, in terms of duration and territorial scope of application, a non-compete agreement already established during his office, in reason of the protection of Group interests, also on an international level, taking account of the priority and confidentiality needs regarding the revision of strategic priorities also following the impact of the pandemic on the relevant markets.

A supplementary agreement was finalized on a gross consideration of € 800,000, with a non-compete clause extended to the territory of the European Union and until April 2023, approved by the Board of Directors on the favourable opinions of the Remuneration Committee and the Related Party Committee.

The above agreement complies also with the parameters and limits payable of consideration for the assumption of non-compete obligations governed by the Remuneration Policy for 2021 approved by the Board of Directors.

In accordance with the above, the effectiveness of the agreement is subject to approval, pursuant to Article 123 ter of the TUF, of Section One of the Remuneration Policy by the Shareholders’ Meeting called on 27 April.

PROPOSED ADOPTION OF A 2021-2023 PERFORMANCE SHARE PLAN
The Board resolved, on a proposal from the Remuneration and Appointments Committee, and in keeping with the introduction of the performance share approved last year for the medium/long-term remuneration of executive directors and key management personnel, to submit to the approval of the Ordinary Shareholders’ Meeting, the adoption of a 2021-2023 Performance Share Plan, in accordance with Article 114-bis of Legislative Decree no. 58 of 24 February 1998, intended for the Chief Executive Officer who will be appointed by the Board of Directors after the Shareholders’ Meeting, the CFO – Executive Director and a number of Company managers who have an employment and/or directorship relationship with the Company or with its subsidiaries on the grant date of the shares.

With the adoption of the Plan, the Company aims to encourage Management to improve medium to long-term performance, in terms of both industrial performance and growth in the value of the Company.

The Plan envisages the right for beneficiaries to receive a bonus in the form of Company shares, subject to the achievement of specific targets set and measured at the end of the three-year performance period from 2021 to 2023.

These targets are structured to include both shareholder remuneration indicators and management indicators functional to raising the share value, ensuring maximum alignment of Management remuneration and the creation of value for the Company.

For details on the proposed adoption of the 2021-2023 Performance Share Plan, the beneficiaries and the main characteristics of the Regulations of the Plan, reference should be made to the Information Document drawn up by the governing body, pursuant to Article 84-bis and annex 3A of the Issuer Regulation, and to the Explanatory Report, which will be published within the time limits and in the manner prescribed by applicable regulations.

COMPLIANCE WITH THE CORPORATE GOVERNANCE CODE
The Board of Directors resolved to comply with the Corporate Governance Code for Listed Companies published by the Corporate Governance Committee in line with the best practices of listed issuers.

The Board also resolved to transpose the Code by the end of the current year and will provide disclosure to the market in the corporate governance report to be published during 2022.

The Board of Directors also approved on today’s date the Guidelines on the qualitative and quantitative composition deemed optimal of the Board of Directors (hereinafter the “Guidelines”), as well as the Policy on the criteria for assessing the independence requirements of directors, including the quantitative and qualitative criteria for assessing the relevance of the relationships indicated in Recommendation 7 letters c) and d) of the Corporate Governance Code.

The above documentation is made publicly available on the website www.mondadori.it Governance section. The Guidelines are also made publicly available on the authorized storage mechanism 1info (www.1info.it).

REGULATION ON INCREASED VOTING RIGHTS
Notice is given that the Regulation on increased voting rights, as amended by the Board of Directors’ meeting held today, in order to bring the Regulation in line with the amendments to the Bylaws adopted by the company on 4 March 2021, as well as with the legislative and regulatory changes regarding Post Trading, is publicly available on the website www.gruppomondadori.it Governance section.

PUBLICATION OF DOCUMENTS
Arnoldo Mondadori Editore S.p.A. hereby announces that the notice of call of the Annual General Meeting, to be held on Tuesday 27 April 2021 in first call and, if required, in second call on Wednesday 28 April 2021, will be made publicly available at the registered office, at the authorized storage mechanism 1info (www.1info.it) and on the website www.gruppomondadori.it (Governance section), together with the Directors’ explanatory reports, in accordance with Article 125-ter of the TUF, on the following items on the agenda to be discussed in ordinary session: financial statements at 31 December 2020 and resolutions relating to the allocation of the result for 2020 of Arnoldo Mondadori Editore S.p.A.; authorization to purchase and dispose of treasury shares pursuant to the combined provisions of articles 2357 and 2357-ter of the Italian Civil Code; appointment of the Board of Directors; appointment of the Board of Statutory Auditors; resolutions, pursuant to Article 114-bis of the TUF on the granting of financial instruments

Also made available, in the above manners, the Information Document on the 2021-2023 Performance Share Plan, prepared in accordance with Annex 3A, under the provisions of art. 84-bis of the Issuer Regulation.

The notice of call of the AGM was published today also in the daily newspaper indicated in the notice.

The additional AGM documentation will be made available, in the manners above, within the time limits of current laws.

CONSOLIDATED NON-FINANCIAL STATEMENT PURSUANT TO LEGISLATIVE DECREE 254/2016
Under Legislative Decree 254/2016, the Board of Directors’ 2020 Report on Operations of the Mondadori Group is also composed of the Consolidated Non-Financial Statement, a qualitative-quantitative description of the non-financial performance of the Company, associated with environmental, social, and staff-related issues, as well as those regarding respect for human rights, and the fight against active and passive corruption, which are relevant given the activities and characteristics of the Company.

With regard to 2020, the Mondadori Group has updated its materiality analysis, in accordance with the principles set out by the GRI Sustainability Reporting Standards (GRI Standards), including the “Media Sector Disclosures”, defined in 2016 and 2014 respectively by the Global Reporting Initiative (GRI).

With a view to continuous improvement of the process, in 2020 the stakeholder engagement activity was expanded by involving the customers of Mondadori Store bookstores, who were given an online questionnaire.

In accordance with the recommendations of ESMA and CONSOB, the document presents an analytical description of the actions readily taken by the Mondadori Group for the necessary prevention to protect the health of its employees and associates, to guarantee its customers access to products and services during the lockdown period and to support the bookstores and newsstands chains.

The results for the year ended 31 December 2020, approved on today’s date by the Board of Directors, will be presented by the Mondadori Group Management to the financial community in a webcast presentation scheduled today at 3:30 PM.

The corresponding documentation will be available on 1Info (www.1info.it), www.borsaitaliana.it and www.gruppomondadori.it (Investors).

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):

• Consolidated balance sheet;
• Consolidated income statement;
• Consolidated income statement – fourth quarter;
• Group cash flow;
• Arnoldo Mondadori Editore S.p.A. balance sheet;
• Arnoldo Mondadori Editore S.p.A. income statement;
• Arnoldo Mondadori Editore S.p.A. statement of cash flows;
• Glossary of terms and alternative performance measures used;
• Information pursuant to Schedule 7 of Annex 3a to CONSOB Regulation no. 11971/1999

[1] From 12 March up to the end of April, the adoption of government measures to contain the pandemic led to the closure of bookstores throughout Italy, with the resulting suspension of most of the activities related to the Group’s Retail business.
[2] It should be noted that the 2020 result benefited from the recognition of tax income of € 5.5 million related to the tax receivable from the “Patent box” facility.
[3] Pursuant to Decree M.D. 521 16/11/2020 “further allocation of a portion of the emergency fund for companies and cultural institutions”, intended to provide grants to art exhibition operators.
[4] GFK, December 2020 – sell-out figures in terms of market value (53 Weeks in 2020 vs. 52 Weeks in 2019)
[5] GFK, December 2020 (ranking in terms of cover value)
[6] Databank, June 2020 (revenue in terms of value net of channel discount)
[7] Product revenue excluding Club revenue
[8] GFK (in terms of value)
[9] Nielsen, December 2020, net of search, social, classified and OTT
[10] Internal source: Press-di, December 2020 (in terms of value)
[11] Internal source: Press-di, December 2020 (in terms of value)
[12] Internal source: Press-di, December 2020 (newsstands + subscriptions channel) in terms of value
[13] Press-di, December 2020 (newsstands + subscriptions channel) in terms of value; Audipress 2020/III
[14] Comscore, December 2020
[15] Shareablee, December 2020 + internal processing on Pinterest and TikTok figures

Record numbers for the TV Sorrisi e Canzoni dedicated to the Sanremo Festival.

With this unprecedented issue, the Mondadori Group brand – for the first time without the physical presence of the editorial team in Sanremo -–took an evolutionary path by creating a totally video and digital social media-based schedule. Non-stop coverage of the most anticipated television event of the year, thanks to which Sorrisi once again confirmed its position as the point of reference for fans of the Festival, beating all audience records.

“Despite the difficulties due to the exceptional circumstances in which the Festival was held this year, it has nevertheless been a huge success. But Sorrisi can rely on an excellent team able to face any obstacles. And it is not only the numbers that speak loudly, also the affection and friendship of all of the artists involved in our coverage. I would particularly like to underline that Maneskin, just minutes after their victory, called us to do an exclusive live slot on Instagram. Further demonstration of the strength and authoritativeness of our brand,” declared Aldo Vitali, editor of TV Sorrisi e Canzoni.
“We still haven’t taken it all in and we weren’t expecting it at all. It’s an incredible result. The country has changed and Sanremo has been an absolutely amazing, incredible experience,” the band told Sorrisi.

The new web site www.sorrisi.com – launched just a few days ahead of the Festival with a new look, an optimised user experience and a layout entirely dedicated to the event – recorded extraordinary figures.
During the week of Sanremo 1.5 million unique users, +26% compared with last year, 5 million pageviews (+53% compared with 2020) and 2.3 million sessions (+30% on 2020), with a rich and exclusive offer: the lyrics to the songs, interviews with the artists in competition, behind the scenes coverage and content updated in real time, with the running order of each evening, audience figures and daily news from the first Festival without an audience in the history of the event.

There was also big success for “Sorrisi Live”, the format for social meetings with the artists launched in October which, during the Sanremo week, included a daily schedule of live interviews on the brand’s Facebook and Instagram profiles, with over 40 separate appointments.
Starting at 10 am with “A colazione con il Direttore” (Breakfast with the Editor), bring together with Sorrisi some of the leading stars of this edition of the Festival such as Arisa, Fedez e Francesca Michielin, Francesco Renga, Malika Ayane and Noemi.
The interviews continued everyday on Facebook and Instagram until 7 pm with the big new feature of this year, the Aperitivo con Sorrisi during which, every day, the editorial team were joined, during five appointments from Tuesday to Saturday, by commentators and much-loved public figures such as Carlo Conti, Costantino della Gherardesca, Diana Del Bufalo, Enzo Miccio, Francesco Gabbani, Michelle Hunziker, Pio e Amedeo, The Jackal and the Trio Medusa,

On Instagram we also published the exclusive digital diaries of six very popular artists among millennials and Gen Z: Annalisa, Ermal Meta, the duo Fedez and Francesca Michielin, Gaia Gozzi, Lo Stato Sociale and Madame, that alternated each day and exclusively sent to Sorrisi a report on their day with all of the private moments ahead of their performance on the stage of the Ariston Theatre.

Live television coverage from the Ariston Theatre of the five evenings was featured in the social media profiles of Sorrisi with a continuous feed of curiosities, surveys, quizzes, and breaking news about what was happening onstage, in real time.

Thanks to the production of over 600 items of content, including videos, posts and stories, that linked the innovation of the formats and approaches with the traditional authoritativeness of the TV Sorrisi e Canzoni brand, the brand’s Facebook and Instagram channels also achieved record results, reaching a total of 12.7 million people, an increase of 21% on the previous year. 

Max Factor was the make-up partner of Sorrisi Live: and every morning, live on Facebook, the National make-up artist Rajan Tolomei commented with the beauty editor of Sorrisi on the looks of the previous evening and created exclusive tutorials on the magazine’s Instagram profile, inspired by the artists in competition and the iconic looks of the Sanremo Festival.

There was also great success for the three special issues of the magazine dedicate to the Festival, with an exceptional total print-run of almost 2 million copies.

After the first two issues, on newsstands on 23 February and 2 March, exclusively featuring the lyrics of the songs and the free addition of the Storie di Sanremo special, this week sees the publication of the third unmissable issue with the traditional cover featuring the winners, reports on all the details and news from behind the scenes across the entire five days of the Festival.

Further to the press release issued on 4 March, Arnoldo Mondadori Editore S.p.A. announces that the notarial minutes of the meeting of the Board of Directors held on 4 March 2021, together with the amended version of the Bylaws, are now available at the Company’s registered office, at the authorized storage mechanism (www.1info.it) and on the website https://www.gruppomondadori.it (Governance section).

Today the meeting of the Board of Directors of Arnoldo Mondadori Editore S.p.A. resolved to amend articles 17, third paragraph, and 27, second paragraph, of the Bylaws, under the powers granted to the Company by Article 23, second paragraph, of the Bylaws.

The adjustments, in view of the renewal of the Mondadori Group corporate bodies upon approval of the financial statements at 31 December 2020, are in line with the new mandatory legal provisions on gender balance in the governing and supervisory bodies of listed companies, issued by Law no. 160 of 27 December 2019 (“2020 Budget Law”), which amended articles 147-ter and 148 of Legislative Decree 58/1998 by raising the quota reserved for the less represented gender from one third to two fifths.

The Board additionally resolved to amend Article 7, sixth, ninth and tenth paragraphs, of the Bylaws, relating to the exercise of the increased voting right, pursuant to Article
127-quinquies of Legislative Decree no. 58/1998, in order to implement the principles set out in CONSOB communication no. 0214548 of 18 April 2019, regarding the automatic increased voting right mechanism, on occurrence of the conditions under Article
127-quinquies of Legislative Decree no. 58/1998.

The minutes of the resolution, as well as the updated Bylaws, will be made publicly available within the time limits provided by current legislation at the registered office, on the Company website www.gruppomondadori.it (Governance section), as well as at the authorized storage mechanism “1info”.

Some 20 million Italians between the ages of 18 and 54 follow at least one influencer. Of these, 48% follow a macro-influencer; a category that includes not only individuals, but also publishing brands with stand-out social media profiles in their communities of reference and recognised as authoritative in nine specific areas: health and wellbeing, families and children, entertainment, technology and science, beauty and personal care, fashion, food and beverages, travel and tourism, cars and motorcycles.

And it is precisely these macro-influencers that are at the heart of the survey “Italians & Influencers” conducted by Buzzoole, InfoValue and Mondadori Media, aimed at examining more closely the views and opinions of Italians regarding an increasingly significant category in consumer behaviour.

In particular, it looks more closely at the relationship between Italians and influencers and publishing brands, with regard to the social media presence and the type of role that they play in entertainment and users buying habits.

The first interesting element is the frequency with which users consult their profiles: 37% claim to follow them every day, while another 37% check in every 2-3 days.

Why do users follow influencers?

For the advice they give (54%, above all for matters related to food) or for their expertise in specific areas (51%, technology and automotive) or because they are considered models of reference to identify with (19%, fashion and families).

At the top of the list for renown on social media there is Chiara Ferragni (mentioned by 85% of the sample), followed by GialloZafferano (72%) and Benedetta Rossi (71%).

As part of the study, emphasis was given to the role of macro-influencers in buying behaviour, with a different focus depending on the sector of interest for users. This showed that they can play the role of a “tutor” that explains a product (for 54% of the interviewees), especially in the areas of food beauty, a discoverer able to introduce new products (for 47%) for tech and beauty, a friend who can say where and when to buy something (41%), above all for fans of cars and motorcycles, or, also, an outstanding trendsetter (27%).

There is, therefore, a clear recognition of the commercial function: an expectation that influencers and publishing brands can provide information on a wide range of product types and become an “advisor” that in every situation can play a determining role.

Have looked at the role of macro-influencers in buying behaviour, the survey then examined their level of incidence in buying propensity: 85% of Italians claim to take the opinions of influencers into consideration when buying a product.

The study also looked in detail at how many purchases are “actually” made on the basis of the advice of influencers. Over the last year around half of the interviewees bought an average of 2 products or services recommended by influencers or editorial brands on social media: beauty, food, fashion and technology being the most influenced shopping categories.

An examination of buying intention is single areas, showed that in first place among the preference of Italians were the profiles of GialloZafferano (89%) in the food & beverage sector and Mypersonaltrainer for products related to health and wellness.

“The study conducted in along with Mondadori Media and InfoValue,” declared Gianluca Perrelli, CEO of Buzzoole, “has clearly demonstrated the complexity of a now consolidated phenomenon that involves millions of people. In addition, it has highlighted the multiple roles that Creators can have for Italians, not just as repeaters of messages, but as key elements in the purchasing process.”

“Brands remain among the main influencers of consumer buying habits, and central in the discovery of new trends and tendencies,” declared Andrea Santagata, General Manager of Mondadori Media. “The research clearly shows how some of them, the more vertical with a language and approach that is close to users, have maintained, and even reinforced, this role, also in the increasingly important social media environment. I think that it is key for a brand in social media to satisfy specific need, with a view to providing users with help and support.”

As regards the platforms used, Instagram emerged as the social media platform par excellence (67%), followed by Facebook (59%) and YouTube (53%). The younger target follow on TikTok (9%) and 4% on Twitch.

This quantitative survey involved over 1,500 interviewees, representative of Italian web users between the ages of 18 and 54, and examined 9 topics of main interest, arranged by socio-demographic profiles, with a special focus on female targets.

“Italians & Influencers” was conducted in the context of the WeTalks project: a permanent observation laboratory through which Mondadori Media addresses companies interested in information about the dynamics of consumer behaviour. The complete results of the survey are available on www.buzzoole.com and www.wetalks.it.

Coming to newsstands on 26 February Me contro Te: the only original fantasy comic by Luì & Sofì, the two YouTubers who have won the hearts of millions of children through simplicity, a joyous spirit, positive values and an ability to create content to evoke dreams and stimulate imagination.

Luì & Sofì have chosen the Mondadori Group for the launch of their first 100% official magazine 100: an occasion to entertain and transport young kids on a range of adventures and the discovery of the world of science.

“We are really excited about this super new project. The fantasy comic Me contro Te is a magazine entirely devoted to fun and the discovery of the world and its wonders. We want to thank the Mondadori Group for having once again believed in us and for having helped us to create the magazine of our dreams,” commented Luì and Sofì.

Every month this new fantasy comic will present two new adventures by Luì & Sofì, illustrated and told in the unique. Colourful and joyous style that is the basis of the magical world of the Me contro Te. Plus, news, curiosities, original ideas from little experiments, topic-based games and quizzes to test readers’ knowledge: an authentic “activity magazine”, conceived for boys and girls aged between 6 and 10. Among the features of the first issue, the world of insects and dinosaurs. The young readers can also write and send drawings to their favourites: and the best letters will be published.

Children will be brought closer to interesting and educational content, thanks to the new comic format of Me contro Te that makes reading stimulating, in a simple but engaging way, in line with the great publishing success of the books published by Mondadori Electa.

The launch of Me contro Te – Il fantafumetto, with a print run of 100,000 copies for the first issue, was announced in a preview by Luì and Sofì in a post on their Instagram profile and is supported by a communication campaign on print media and point of sale.

The magazine will be available on newsstands from 26 February, with a cover price of €4.90.

New columns and collaborations for Focus, the Mondadori Group brand leader in the popular science segment 6.4 million readers and users and a community of over 3 million followers on social media, up by 40% since February 2020.

From this month Focus Domande & Risposte, the magazine that offers more than 250 questions and answers about the most incredible and interesting facts, is changing its frequency and becoming a monthly. And for the occasion the title is launching an exclusive collaboration with Massimo Cannoletta.

The celebrated champion of the TV quiz show L’Eredità, whose knowledge captured the hearts of the Italian audience. Will be the protagonist of a feature entitled “Te lo dice Massimo” in Focus Domande & Risposte and a weekly appointment on the Focus Facebook and Instagram profiles, where he will engage the community in an exclusive video questions and answers format.

“The strength of Focus lies in the care and attention given to providing detailed background and the way we search for news, the authoritativeness of our contributors and interlocutors, but also in the curiosity, the passion and enthusiasm we put in every day to offer our readers a quality product that is able to speak to everyone. Consequently, when I had the change to chat with Massimo Cannoletta, and when I saw his enthusiastic hunger for knowledge and his drive to explain, I thought it would be brilliant to add him to the team of journalists and collaborators that make the world of Focus a great multimedia platform for popular science,” declared Raffaele Leone, editor of Focus.

But that’s not all that’s new. Cannoletta will also have column in Focus Storia, Focus system magazine dedicated to the events, personalities and curiosities of the past and present. Every month in “Curioso per caso” he will allow readers to discover historic and artistic treasures form different countries in the world.

The super champion will also be the protagonist of an exclusive interview in the monthly Focus, in the issue on newsstands from 23 February, where he talks about the secrets of his memory.

Originally from Lecce, Cannoletta, who is 46, has a degree in political science. He is passionate about spreading culture and knowledge and became famous with the audience of the early evening quiz show presented by Flavio Insinna, participating in 51 episodes and beating record after record.
“I grew up reading Focus branded magazines, and I got many of the questions on L’Eredità right having learned them from these magazines. So I am absolutely honoured to become a part of the big Focus family,” declared Massimo Cannoletta.

Focus is Italy’s most widely-read magazine, with 6.4 million readers and users (Source: Nielsen Media Impact Data fusion, Amy 2020). It is increasingly appreciated and engaging on sempre social networks, where it has a growing audience of over 3 million followers (Source: Shareablee, February 2020). The magazine is the core of a multimedia ecosystem that includes the web, a TV channel, social media and events: a distinctive point of reference for issues of great current significance, from science to technology and nature, and thanks to contributions from authoritative voices of international renown and an approach that is always rigorous and fresh.

Three stars for three digital covers: actresses Kate Bosworth and Elizabeth Olsen and musician Keke Palmer are the celebrities picked by Grazia USA for the launch of the new digital covers created to mark the New York Fashion Week.

Three leading female personalities from the world of fashion and entertainment revered by the American public posed for three exclusive fashion shoots, perfectly embodying the mix of quality content that distinguishes the editorial formula of the new international edition of Grazia: fashion, beauty, personalities, as well as topical issues such as inclusion, sustainability and diversity.

Launched last October under a licensing agreement with the American publisher Pantheon Media LLC, in just a few months Grazia USA has established itself as one of the most innovative publishing brands in the fashion world in the United States.

“Our magazine is for the women who are changing the world,” said editor of Grazia USA David Thielebeule. “For over 80 years, Grazia has defined international style with an Italian twist. It is also clearly focused on inclusion, dynamism and optimism. From New York to Los Angeles, Chicago and Miami, Grazia USA has already become the most exciting, elegant and innovative magazine for the women who are changing the world”, pointed out Thielebeule.

Since its launch, the Grazia USA platform has reached a total audience of 4.6 million unique users, of whom almost 50% are women in the 18 to 34-year-old age range, becoming a point of reference for style, beauty, culture and lifestyle.  A success that is also confirmed by the traffic on the graziamagazine.com/us platform, which has grown by 48% since its debut last October, on the occasion of the exclusive international collaboration with Kim Kardashian-West. In addition to the audience on the platform, Grazia USA also boasts a social reach of more than 3 million in the month of January alone.

“We are really proud of the great results achieved with Grazia USA, thanks to a successful formula that hinges on a global and multi-channel approach. The new business model, which has strong potential for development in other markets too, blends authoritative content and a strategic use of data to create a distinctive positioning, addressing the needs and interests of readers,” said Daniela Sola, managing director international business of Mondadori Media.

“Grazia USA will also provide strategic advertising solutions for brands seeking to reach an audience of sophisticated consumers by developing integrated and specific marketing offers for the world of luxury and lifestyle”, added Jillian Maxwell, Chief Revenue Officer of Grazia USA. “We are very optimistic that our growth will continue, as our business initiatives align with fundamental shifts in consumer behaviour. We have created exclusive content for the New York Fashion Week and will continue along this line as well as developing our ever-growing community of users”.

Icon will be on newsstands from tomorrow with an issue entitled No pictures please!, dedicated to the evolution of our relationship with images. This issue of the magazine, edited by Andrea Tenerani, will include over 200 pages of fashion, beauty and news, as well as special features and four exclusive cover stories.

The protagonist of the male lifestyle and fashion brand of the Mondadori Group is the football player Zlatan Ibrahimovic, a timeless icon, on and off the pitch, in an exclusive portrait for Icon: “From the very beginning, I told myself that I wouldn’t want to be anyone else. Successful or unsuccessful, I waould remain who I am. For me, when you are so original, in the end, people recognise that, and they love you for it. The key to it all is authenticity,” the champion says.

The February issue of Icon also features I Negramaro, photographed by Giampaolo Sgura to mark the release of their latest album Contatto: “In recent years the meaning of this word has changed. When we talk about contact, we are usually talking about an email, a telephone number to reach out without ever touching. And during this pandemic it’s become something else again; a dream, the word is now almost dreamlike,” explained Giuliano Sangiorgi.

Plus, the international face of Dave Franco, actor and director, brother of James, making his directorial debut with the horror film The Rental: “I wasn’t only inspired by my paranoia about home sharing. I also thought about the period that the United States is going through in which we are divided, isolated and nobody trusts anybody.”

And finally, the future, football, AC Roma, Italy, the injuries and recovery of Nicolò Zaniolo, the young champion of Roma and the Italian national team, who talks about himself for the first time to Icon: “Roma has changed my life, in every sense. It took me on when I was just a boy and is making me into a man. It has given me the opportunity toplay football and given me all this popularity. How could I not love it?”

There is also the return of Padiglione Icon: a special feature, in the pages of the magazine and on dedicated social media profiles dedicated to a selection of excellence in fashion, with what’s new and representative items from the new collections. In the new issue, on newsstands until the middle of March, space is also given to engines in Icon Wheels: 10 pages that focus on the most exclusive new products from the world of cars and motorcycles, previews, interviews to the protagonists and the most iconic and desirable models.

With sport in our hearts

From this month, Icon also launches a special project entitled Con lo sport nel cuore, (With sport in our hearts) in collaboration with the Fondazione IEO-CCM, the body that supports clinical and experimental research and assistance for patients with cancer and heart disease cat the Istituto Europeo di Oncologia and the Centro Cardiologico Monzino, with the aim of identifying the best treatment for patients and to support new and innovative projects.

For the occasion a limited-edition Icon T-shirt has been produced, in collaboration with Roy Roger’s, to support the Centro Cardiologico Monzino.

After Claudio Marchisio, Nicolò Zaniolo will be the exceptional testimonial of the initiative which, during the year, will involve a number of protagonists from the world of sport in order to promote on the pages of Icon the research of an example of Italian excellence in the health sector.

The Centro Cardiologico Monzino is Europe’s leading hospital for the treatment, research and prevention of cardiovascular disease and is internationally recognised for the level of specialisation and innovative therapies. Also on the front line is Roy Roger’s, a brand of Manifatture Sevenbell, which offers its experience in the clothing sector to the service of a good cause.

The T-shirt will be on sale on www.royrogers.it and the revenues from the sales will be entirely devolved to applied research projects on more serious heart and vascular diseases and orphans of resolutive therapies, where only research can make a difference.