2023

The first Mondadori Bookstore of the Vatican City will open its doors to the public on Monday, April 17.

Developed over a surface of 150 square meters, the new Bookstore is located inside the very new shopping centre, Caput Mundi Mall, located in the heart of Rome, in a strategic position on the Janiculum, just a few steps from St. Peter’s Basilica and surrounded by the most renowned artistic classics.

“We’re proud to have brought our literary and entertainment offer for the first time to a place filled with so much culture and history as the Vatican City,” stated Carmine Perna, CEO of Mondadori Retail. “This new bookstore is intended to help us meet the specific needs of an extraordinary area, further increasing the number of stores we manage directly and creating new points of contact with our readers, while also taking the strong affluence of international tourists into account,” concludes Perna.

In the innovative shopping centre, the new Mondadori Bookstore was conceived with a one-of-a-kind layout, including a special travel section, to become a point of reference for the residents of the surrounding districts as well as for all tourists or travel lovers.

A team of five expert Mondadori Store booksellers will welcome the public 7 days a week with an extensive range of international books, especially in English and Spanish, and an area dedicated to books on tourism in foreign languages. Classic sections devoted to fiction, non-fiction and more, in addition to the We are Junior area – dedicated to young readers – have also been prepared with a wide range of illustrated books and educational games aimed at stimulating the fantasy of the smallest. The bookstore will always keep more than 10.000 titles available, in addition to stationery products, gadgets, souvenirs of Rome, gift boxes and gift cards.

The Mondadori Bookstore of the Caput Mundi Mall is also at the service of readers online: customers will be able to contact the bookstore and stay updated on all the initiates and events in progress through our Facebook and Instagram pages. They will also be able to use the digital services of Mondadoribookstore.it to check the availability of a book, order it and pick it up in the store, by choosing from a catalogue of over 1 million titles.

Mondadori Studios’ Originals catalogue, the Mondadori Group’s space for creating and producing original audio contents, is now further enhanced with Shelf. A book’s home.

Based on the idea that readers, books and bookstores are all concerned by a common space known as the shelf, the new podcast is an exclusive project aimed at reviewing and discovering the literary world and its protagonists through the voice of the poet and bookseller Alessandro Barbaglia and involvement of Chiara Sgarbi, a passionate reader known on Instagram as @chiara_sui_libri.

The bookshow conceived for all literature lovers consists of 8 episodes available for free on all major audio streaming platforms, including Speaker, Spotify, Apple Podcast and Google Podcast.

The podcast

The episodes of Shelf. A book’s home will be airing every Wednesday with special sections: such as Cover, consisting of Alessandro Barbaglia’s personal opinion on books or Novelty, dedicated to the presentation of new books to help listeners find their way among the many editorial offers.

And again, ad hoc Advice given by Chiara Sgarbi to help people find the right story to read or purchase for others. Or the not to be missed Interview, in which the writer Barbaglia discusses with a bookseller, writer or protagonist of the editorial world.

Whereas, the Where to read section, a space conceived to let listeners speak about where and what they read, will enrich each episode. Finally, End Credits to summarise all the readings mentioned at the end of each episode.

Other novelties from Mondadori Studios

The first season of Shelf. A book’s home will complete Mondadori Studios’ original podcast offer, including Elements, Digital Wars and Under the nails, whose executive coordination will be guided by Michele Dalai to cover topics such as science, geopolitics, philosophy and true stories through new and expert voices and accurate authorial direction. The podcast Looking up, seeing the stars, developed by the scientist Amalia Ercoli Finzi together with Randstad, is also among the newest projects available. A unique episode added to the very high quality original audio format catalogue produced by Mondadori Studios: from spin-offs and discussions on what goes on behind the scenes in the creation of successful books to great works of historic and scientific education, from narrative invention to political analysis.

The Museo del Novecento museum and Palazzo Morando | Costume Moda Immagine palace, together with Liberty and our publishing house Electa, present the FuturLiberty Exhibition from April 5, 2023.

The exhibition, under the scientific curatorship of Ester Coen and artistic direction of Federico Forquet for the fabrics, delves into the history of the futurist movement in an unprecedented way, through a selection of paintings and applied arts exposed in the two seats of the Modern and Contemporary Art Museums of the Municipality of Milan. The works of the futurist movement’s protagonists, Giacomo Balla, Gino Severini, Umberto Boccioni, Carlo Carrà and Fortunato Depero are harmoniously combined with the Vorticist paintings of contemporary English artists, such as Percy Wyndham Lewis and Christopher Nevinson, starting from the “Vital English Art” manifesto of 1914, signed by Europe’s avant-gardist, Filippo Tommaso Marinetti. These artists in turn represented the source of inspiration that guided Federico Forquet and Liberty’s design team in the creation of two new collections.

The inspiring avant-gardes of Futurism and Vorticism express the transition from past practices through a sharp outlook towards the future, by influencing the culture expressed in traditions and in all forms of everyday routines. Strength, energy and dynamism all reflect the vitality of the forms that boosted the creativity of Liberty’s designers throughout the different eras.
Art life, leisure and identities are recombined into a futurist aesthetic, into a vision aimed at reshaping principles and traditions.

The project includes over 200 works in 2 seats. At the Museo del Novecento museum, the exhibition is focused on the interdisciplinarity of avant-garde movements. This unprecedented and fascinating journey is divided into 8 sections, varying from Futurism and Vorticism with essential works of the Museo del Novecento museum’s collection, of which 15 created by renowned authors such as Boccioni, Balla, Severini and Carrà, and others borrowed from prestigious Italian and international institutions, among which the MART of Rovereto, GAM of Turin, Banca d’Italia, Tate, British Council, Estorick Collection, Ben Uri Gallery and Museum, William Morris Gallery of London, Sainsbury Centre of Norwich; all there to be compared to the designs of the Liberty collections.

Moreover, images of Milan’s stylish buildings will be projected to further appreciate its Liberty-style architectures. This journey combines architecture and decorations with the designs of the prestigious London archive, thus highlighting the stylistic influence of floral and geometric patterns to reveal a close connection between these two cities.

In the Palazzo Morando | Costume Moda Immagine palace, the focus is instead oriented towards the extraordinary creativity which characterises Liberty’s story and its past and present designers. For the first time since the V&A of 1975, which celebrated its centenary, the paintings, drawings, tapestries, fabrics, clothes, furnishings, photographs and a wide selection of unpublished materials from the Liberty archive will be exhibited in 8 rooms, starting with a section dedicated to its partnership with William Morris.
The exhibition reveals the influences that most affected both the careers of some great masters, among which William Morris, Bernard Nevill and Federico Forquet, and the ideas that redesigned the future throughout the eras by glancing back at the past. The fabric connects the beginning and end of a journey through shapes, colours, patterns and refractions of light.

A guide of the Museo del Novecento museum and Palazzo Morando | Costume Moda Immagine palace leads visitors through this artistic journey, organized by Electa and curated by Ester Coen.

The Museo del Novecento museum houses the largest collection of works from the futurist movement, also thanks to the recent loan of some precious masterpieces of Boccioni, Balla, Severini, among others, from the Gianni Mattioli collection. The futurist gallery offers visitors a one of a kind opportunity to get acquainted with the most renowned Italian artistic movements worldwide, right in Milan, where the main historical events of this movement unwound. The exhibition, dedicated to the connection between Futurism and English Vorticism, thus finds its ideal seat at the Milanese institution.

The Palazzo Morando | Costume Moda Immagine palace: has the task of presenting, preserving and producing evidence of the changes that Milan embraced. The Art Gallery houses paintings, drawings and sculptures representative of the historic, urban and social evolution of the Milanese capital. Milan’s custom and fashion collection is exhibited alternately according to thematic exhibitions and continuously allows to reflect on the interdisciplinarity of decorative arts and design. This is the perfect setting for taking part in Futurliberty, whose focus is dedicated to the study of the connection between art and fashion through the works of great masters of Futurism and Vorticism.

Liberty is the avant-gardist of design and decorative arts since 1875. It is internationally renowned for its fabrics, in particular for its floral patterns, but also for a long history of experiments with bold geometric designs reminiscent of the shapes and colours of the early 20th-century’s avant-garde art, in particular of those created by Italian futurists and English Vorticists. The extraordinary archive of over 50.000 drawings and prints from the beginning to present day is a constant source of inspiration. For Liberty’s 150 years, the esteemed interior couturier and designer Federico Forquet has curated a striking new range of fabrics – the FuturLiberty collection – aimed at bringing Liberty’s creative legacy into our era. The collections are produced in the northern Italian plant, in Lombardy, using both innovative digital technologies and century-old techniques.

The Mondadori Group has announced that, following a truly unique 55-year career with Tv Sorrisi e Canzoni, Rosanna Mani has decided to turn a new page in her life and spend more time with the people dearest to her.

The publisher affectionately thanks Rosanna Mani for the great passion, inexhaustible energy and extraordinary talent with which she played a key role in the rise to success of the country’s number one show business magazine.

From her beginnings on 1 July 1968 as editor-in-chief and then co-director of the magazine for 25 years to her responsibility for all the publication’s relationships in show business, during her highly successful career Rosanna Mani became an irreplaceable contact person for all the most prominent personalities in the worlds of film, television and music, with whom she built unique relationships of esteem and friendship.

A phenomenal creator of unforgettable magazine covers and musical and television events, Rosanna Mani is responsible for the 1971 creation of the Telegatti, the “stars’ favourite award”, which has played an essential role in the history of show business in Italy.

Arnoldo Mondadori Editore S.p.A. announces that the following documents for the Annual General Meeting, to be held on 27 April 2023 in first call (28 April in second call, if any), are publicly available at the Company’s registered office, at the authorized storage mechanism 1info (www.1info.it) and on the website www.gruppomondadori.it (Governance section):

• the 2022 Annual Report, comprising the draft financial statements, the consolidated financial statements for the year ended 31 December 2022, the Directors’ Report on Operations (including the non-financial statement), the certifications pursuant to art. 154 bis, par. 5, of Legislative Decree no. 58/1998;
• the Independent Auditors’ reports and the Board of Statutory Auditors’ report;

Notice is additionally given that the summary statement pursuant to art. 2429 of the Italian Civil Code is also available at the registered office.

The new Mondadori Duomo bookstore, a one-of-a-kind cultural and meeting hub, is opening tomorrow in an iconic place at the heart of Milan.

With innovation and tradition perfectly combined and a very unique concept, Mondadori Duomo will be dedicated to the world of books:

• 100,000 books available on the bookstore’s three floors;
• 30,000 different titles;
• 8,000 stories that children and young adults will love;
• 5,000 different manga and comics;

in addition to digital reading stations, experiential and theme areas and a large central arena.

The new bookstore of the Mondadori Group, led by Antonio Porro (Managing Director), is in Palazzo dei Portici Meridionali, a Neo-Renaissance-style building, and interacts constantly with Milan’s most famous square, whose architecture invites visitors to experiment and let themselves be amazed, enraptured and carried away.

“The new Mondadori Duomo will be a bookstore for all intents and purposes, where visitors can experience books in full.
It is a unique project in our network, in a very iconic square,” declared Carmine Perna, Managing Director of Mondadori Retail, the Group company that manages the most extensive network of bookshops in Italy. “In addition to books (the focus of what we have to offer), visitors will find many other culture-related services and products, such as music, writing, games and events. Ultimately, it aims to be somewhere people can meet and ideas can spread, a cultural and experiential hub at the service of the city and of anybody who wishes to experience it,” concluded Mr Perna.

To mark the opening, a round table was held, discussing “Reader-sized bookstores. Cultural and meeting hubs” in which the Managing Director spoke with Ricardo Franco Levi, President of the AIE, Paolo Ambrosini, President of ALI-Confcommercio, and Michela Addis, Professor of Economics and Enterprise Management at Roma Tre University. The moderator was Alessandra Tedesco

The discussion aimed at analysing in depth the role of bookshops in territorial cultural and social growth, the interaction with the community and the new consumer habits of the younger generations.

“The opening of a new bookstore by Mondadori in the heart of Milan, a city that, according to 93% of citizens, is great at stimulating people to read and that has publishing activities as one of its drivers for economic and social development, is not just a comforting piece of news, it is also a signal of where the Italian book industry is going,” stressed the president of the Italian Publishers Association (AIE), Ricardo Franco Levi. “With sales worth 248.8 million Euro, the first two months of 2023 in the trade market have been essentially in line with the good results of 2022, and confirm that, since the pandemic, Italians have been reading more. That’s not all: in the last two years, Italians have rediscovered bookshops, which have gained on e-commerce sales, and this applies particularly to young people. In this sense, the decision to renew the publishing offer focusing on state-of-the-art display formats is a winning decision,” concluded Mr Levi.

“Today, bookstores are more and more social aggregation drivers, somewhere to enjoy the precious experience of finding a book we didn’t know we were looking for. So booksellers today have an important role in the world of books, one no algorithm can replace,” declared Paolo Ambrosini, the President of ALI-Confcommercio. “What we must all do together, all publishers, booksellers and operators in the world of books, is work so that bookshops are once again the heart of the book project. Among other things, this means looking back at decisions that recently were made with no consideration of booksellers and bookshops,” concluded Mr Ambrosini.

“We are witnessing an epochal change in the function of bookshops. If, for consumers, buying a book is a ritual, booksellers are friends and a bookshop is a special place, then the positioning of bookshops must evolve to create unforgettable experiences,” declared Michela Addis, professor of Economics and Business Management at Roma Tre University. “The new Mondadori Duomo bookstore embodies the principles of experientiality and creates a place in which to meet, interact and connect socially. People who read are happier than people who don’t; culture creates wellbeing; bookshops create value-wellbeing for individuals and society over the whole territory, for all of us,” concluded Ms Addis.

Arnoldo Mondadori Editore S.p.A. announces that the following documents are publicly available at the Company’s registered office, at the authorized storage mechanism 1info (www.1info.it) and on the website www.gruppomondadori.it (Governance section):

• the notice of call of the Ordinary Shareholders’ Meeting of Thursday 27 April 2023 in first call (28 April in second call, if any);
• the Directors’ explanatory report, in accordance with Article 125-ter of the TUF, on each of the items on the agenda;
• the Information Document prepared pursuant to Article 84-bis of the Issuer Regulation concerning the 2023-2025 Performance Share plan.
• the Report on remuneration policy and compensation paid (prepared pursuant to Article 123-ter of the TUF and 84-quater of the Issuer Regulation);
• the 2022 Report on corporate governance and ownership structure.

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

Giffoni and Giallozafferano, a partnership that tells of excellence and talent. In fact, the Giffoni Food Show will partner with the no.1 food brand in Italy for the second year running, in a collaboration that promises to be stronger than ever.

After last year’s resounding success, this year the project is enriched, renewed, and grows in terms of content and shared values.

The goal is the same one as last year: to accompany the festival’s young jurors, together with their parents, visitors or those merely curious about food, on a conscious quest to learn about healthy but above all sustainable, food-waste-reducing cuisine, all free of charge.

The story is told by first-rate storytellers, such as food influencers, star chefs, master pastry chefs and pizza chefs of national and international stature, through a schedule of initiatives powered by Giallozafferano.

And this year, one new feature will be the presence of some of the food creators from Zenzero, the talent agency inspired by the experience of Giallozafferano, which brings together the best food creators on the Italian digital scene. A unique agency with a roster that racks up, to date, a total of more than 20 million followers, 200 million video views and more than 10 million interactions per month.  The protagonists of the Giffoni Food Show will include prestigious food talents such as: Daniele Rossi, the Tuscan chef whose cuisine is modern and sophisticated but has its roots in local traditions; Cooker Girl, the girl with the “red apron”, a passion for cooking and a desire to experiment; Diletta Secco, a stylish, cheerful and spontaneous storyteller, always attentive to the environment and healthy eating. The Zenzero roster also includes many outstanding talents with a gift for igniting the passion for cooking in all generations of Italians on all platforms. A kaleidoscope of languages, flavours, styles, traditions and innovation that has already won over millions of followers, a loyal audience of cooking enthusiasts and gastronauts always on the lookout for new ideas and flavors in the kitchen.

The first edition of Giffoni Food Show last year was met with great acclaim and enthusiastic participation by children and their families. More than 30 professionals including chefs, food bloggers, master pizza makers and master pastry chefs took part in the format, bringing to life moments of food education and cooking performances. The protagonists of the evenings were the grand masters of the Accademia Nazionale Pizza Doc, the AMPI (Association of Italian Master Pastry Chefs) who presented the “GiffonDOro” dessert created exclusively for the Giffoni Film Festival. The partners in the food section included Accademia Nazionale Pizza Doc, Terra Orti, Accademia Maestri Pasticceri Italiani, Sacar Forni and La Sciccheria Gourmet.

Last year’s event was a new opportunity for the crowds in attendance, who represented a society that is increasingly aware of and interested in food sustainability issues. Giallozafferano played a leading role in last year’s busy event, with the creators and faces of the brand creating a compelling narrative.

For 2023, the partnership is renewed and strengthened with new content and new ideas. Explaining the taste and pleasure of healthy cooking to kids, is the ambitious mission of Giffoni and Giallozafferano, as they join forces to tell the story of excellence and talents in the world of food.

Focus Junior Days is the new educational, entertaining, interactive project-event with hands-on experimenting organised by Il Centro in Arese, which will include interesting and attention-grabbing science laboratories and creative activities for children and families. The events will take place over 8 week-ends between March and November 2023.

This intense and unmissable schedule of free events will cover exciting topics such as astronomy, sustainability, nutrition, history, palaeontology and chemistry. The events are organised with the collaboration of Focus Junior, the main Mondadori Group brand in the kids segment. The activities are for children aged between 6 and 13, with the aim of making them interested in science, technology, sustainability and current affairs by stimulating them to interact.

A project partner is Iper La grande i, one of the most important actors in large-scale retail trading in Italy, which will offer a free snack to all children participating in the activities.

“Astronaut apprentices”, “Save the Blue Planet”, “Eating makes you healthy”, “A stroll in history”, “Health champions”, “Climate change”, “A day in the Jurassic age”, “We all love chemistry” are the 8 names of the 8 Focus Junior Days, which include educational activities, in some cases also jointly with local schools.

Children who take part in at least 5 of the 8 scheduled events will receive the Focus Junior scientific passport and a surprise at the end of the programme. Each event lasts 45 minutes and there will be sessions at different times: 10.30 – 11.30 – 14.30 – 15.30 – 16.30 – 17.30.

The first event, scheduled for Saturday 25 and Sunday 26 March in the Events Area on the 1^st floor, is “Astronaut apprentices” and the topic is astronomy. For information on the activities and to take part in the programme, simply book, free of charge, in the shopping mall’s website centroilcentro.it.

Focus Junior Days: the programme

Saturday 25 and Sunday 26 March
“Astronaut apprentices”

Spectacular experiments to understand why Mercury is covered in craters, what gases can be found in the infernal atmosphere of Venus and why Mars is red, what the rings of Saturn are made of, what the storms of Jupiter are, how cold Neptune and Pluto can be. Children will be able to discover the age, structure and temperature of the Sun, defeat gravity and travel in space, understand that a black hole is not a hole… and it is not actually black. They will amuse themselves calculating the weight and age of human beings on different planets, according to the duration of a planetary year.

Friday 21 and Saturday 22 April
“Save the Blue Planet” under the patronage of Earth Day Italia
On Earth Day (22 April), the topic will be pure sustainability. Reduce, reuse, recycle… waste: from a huge problem to an enormous opportunity. Water is life: we are all united against pollution and plastic in the seas, to protect our Blue Planet and save the living beings on it. Through experiments and activities, children will be able to observe the physical and chemical properties of the H₂O molecule, understand how much water there is on the surface of the planet, discover the percentage of water on the Earth that can be used for various purposes, understand the water footprint, see the effects of water pollution on the environment and ecosystems, learn what “plastic islands” and microplastics are, activate a hydroelectric turbine and transform the kinetic energy of waterfalls and tides into electricity.

Friday 19 and Saturday 20 May
“Eating makes you healthy”, with the collaboration of Iper La grande i
Learn in an entertaining manner how food is turned into energy, what nutrition groups are and the nutritional properties of each food. The food pyramid: how it is composed and how to “read” it, the social and cultural value of food. Who invented the most famous foods such as pizza, spaghetti and ice cream. How our metabolism works and how to read food labels and restaurant menus to discover calories.

Saturday 17 and Sunday 18 June
“A stroll in history”
A journey through the inventions and discoveries that made “history”. Learn about the pharaohs, the fascinating hieroglyphic writing system, ancient Egyptian excellence such as the sun dial, the water hourglass, medicine and astronomy, the mummification process. The legacy of ancient Greek thinking, from philosophy to the Olympic Games, the importance of democratic assemblies in ancient Athens. Children will be able to understand how useful are zero (a revolutionary invention from the Arab world) and a compass, used by Chinese sailors over 4000 years ago. They will also learn about the origins of chemistry through fascinating alchemy experiments.

Saturday 15 and Sunday 16 July
“Health champions”
Practising sport has always been linked to personal growth, intended as physical and intellectual development: “mens sana in corpore sano” [Latin for “a healthy mind in a healthy body”]. Children will discover that there is a positive correlation between health and exercising regularly, learn the difference between physical exercise, practising sport and physical fitness, how physical exercise shapes the body, makes it more agile and protects it.

Saturday 30 September and Sunday 1 October
“Climate change” under the patronage of Earth Day Italia
The topics addressed will be energy and environmental sustainability… on a mission to save the planet! From fossil fuels to global warming, from greenhouse gases to sustainable sources. Children will be able to simulate rising seas, discover how energy is produced, learn about carbon dioxide and its effects on climate, the sustainable alternatives for our future and for our beautiful planet, imagine a future of cars powered by hydrogen and solar power.

Saturday 28 and Sunday 29 October
“A day in the Jurassic age”
The creatures that all children love: dinosaurs. A journey to discover the “terrible lizards” that ruled the world, learning about their features and surprising characteristics, debunking widespread misconceptions, understanding the mechanisms underlying evolution and the new frontiers of palaeontology.
Children will be able to discover what the Earth was like millions of years ago, why dinosaurs were enormous and the main features of carnivores and herbivores, the real reason dinosaurs became extinct and how fossils are extracted after being trapped in rocks for thousands of years.

Friday 24 and Saturday 25 November
“We all love chemistry”
An entertaining journey in the miniature world of atoms and molecules, through phase transitions to incredible chemical reactions. Children will perform experiments to learn all matter is made of atoms and molecules. They will learn to recognise the three states of matter and what happens if the temperature changes, and that there are immobile atoms, moving atoms and crazy atoms in gases, liquids or solids. Children will discover about amazing sublimation, what happens if the substances in granny’s cupboard are mixed, the difference between simple mixtures and chemical reactions and how to perform the most incredible reactions without “explosions”.

Fun, surprises and experiences are the three ingredients of the new project of Il centro in Arese, which further confirm its vocation and its closeness to customers, to provide entertaining and care-free moments with friends and family.
All the information is available on centroilcentro.it.

Today, the meeting of the Board of Directors of Arnoldo Mondadori Editore S.p.A., chaired by Marina Berlusconi, reviewed and approved the draft financial statements and the consolidated financial statements at 31 December 2022 presented by CEO Antonio Porro.

2022 HIGHLIGHTS
The year 2022 saw the Group complete the strategic path of reshaping its business portfolio, which helped greatly ease its exposure to magazines while strengthening its foothold in book publishing, and will now continue with an exclusive focus on developing its core business.
During the year in fact, the Group completed a number of extraordinary transactions, the most noteworthy of which include:

• regarding the core business of Books, with a combined strategy of vertical integration in the supply chain and strengthening of its publishing leadership:
  • the acquisition of 50% of De Agostini Libri, active in Trade books with focus on the children’s and non-fiction segments, and the subsidiary Libromania, active in the promotion of third-party publishers;
  • the acquisition, with a view to strengthening the distribution of third-party publishers, of 50% of A.L.I. – Agenzia Libraria International, which will be fully consolidated as of 2023, following the acquisition of an additional 25% stake;
  • the acquisition of 51% of Star Comics, which makes the Group the Italian leader in the comic books segment.
• regarding the Print Media business, with a view to reducing exposure to the segment:
  • the disposal of a majority stake in Press-di, active in the nationwide distribution of magazines and newspapers;
  • the start of the disposal process of the business unit related to the Grazia and Icon brands, including the related international network, a transaction later completed in January 2023.

“In 2022 we achieved remarkable results, with double-digit growth in revenue and margins and the best net profit in the last 15 years. The performance as a whole – exceeding the guidance disclosed to the market – is clear proof of the success of the strategic repositioning of our businesses, the result of various acquisitions.
All this, combined with the many efficiency measures put in place by Management, has enabled us to further strengthen our operating-financial standing, despite a market and geopolitical scenario still dominated by uncertainty, marked among other things by a sharp increase in the cost of inputs”, stressed Antonio Porro, CEO of the Mondadori Group.

PERFORMANCE AT 31 DECEMBER 2022
Consolidated revenue amounted to € 903 million, growing by 11.8% versus 2021, despite the disposals in the Media area, thanks in particular to both the inclusion of D Scuola in the consolidation scope and the positive trend of the Books market, which benefited the Trade Books and Retail areas.

Adjusted EBITDA came to € 136.3 million, increasing by approximately € 31 million, or improving by 29%: one-third of this strong growth stems from the operating performance of the original scope, thanks to the increased efficiency achieved, and two-thirds from the consolidation of D Scuola.
Overall, profitability stood at 15.1%, up by 2 percentage points versus 2021.

EBITDA, which came to € 130.7 million versus € 91.1 million in 2021, improved even more (+43%), thanks to the operating trend and to the reduction in restructuring costs in the Media and Corporate areas versus the prior year.

EBIT, amounting to € 72.7 million, recorded a sharp improvement versus 2021 (+60.8%), despite the impact of higher amortization (€ 4.7 million) arising from the Purchase Price Allocation process of goodwill resulting from the concluded acquisitions (especially D Scuola).
EBIT in 2022 also includes a number of write-offs, totaling € 7.2 million (€ 7.4 million in 2021), resulting from the impairment process (relating in particular to the TV Sorrisi e Canzoni brand in the Media area, which was affected mainly by the increase in the discounting rates adopted).

Adjusted EBIT in 2022, net of extraordinary expense and all non-cash items related to Purchase Price Allocation and impairment processes, would amount to € 90.1 million, up by more than € 22 million versus the prior year.

Total financial expense for the period, amounting to € 5.7 million, increased by € 1 million, as a result of the Group’s higher average financial debt and the new evaluation of the earn-out from the acquisition of Hej! (€ 0.9 million).

The consolidated result before tax closed with a positive € 66.9 million versus € 38.6 million in 2021 (+73%).
Contributing to the strong increase of € 28.3 million was the improvement of € 1.3 million in the results of the associates resulting from the disposal on 1 January 2022 of the stake in Monradio and the start of the accounting of the share of profits of A.L.I., which more than offset the € 1.7 million write-down of the stake in Attica.

Net profit, after non-controlling interests, amounted to € 52.1 million, up by 18%, the best result achieved by the Group in the last 15 years; neutralizing the non-operating effects that impacted on 2021 and 2022, adjusted net profit would amount to € 64 million, up by more than 50%.

In addition to the buoyant performance of operations, the Group confirmed solid cash generation in the year, with Cash Flow from Ordinary Operations of € 70.2 million versus € 68.2 million in 2021.

The Net Financial Position (before IFRS 16) stood at € -106.1 million (€ -94.8 million in 2021); considering the effects of IFRS 16, the NFP stood at € -177.4 million, lower than € -179.1 million at December 2021, with a debt/Adjusted EBITDA ratio of 1.3x.
The minor change in the Net Financial Position between 2021 and 2022 shows – also looking ahead – the Group’s ability to self-finance, with its own cash generation, the active M&A policy implemented over the last year, preserving the ability to distribute dividends.

2022 saw, in fact, the return to a shareholder remuneration policy with the distribution of dividends totaling approximately € 22 million, equal to a pay-out of 50% of 2021 net profit.

At 31 December 2022, Group employees amounted to 1,900 units, up by 5% versus 1,810 units at 31 December 2021 (+90), due mainly to the inclusion of D Scuola staff (a total of 125 units).
Neutralizing the effect of all scope changes – namely, the acquisitions of D Scuola, De Agostini Libri and Star Comics, and the disposals of titles and assets in the Media area – the Group workforce would drop by approximately 1%, thanks to the continued efforts to increase the efficiency of individual corporate areas and functions.

BUSINESS OUTLOOK
The Group’s current setup, operating performance, and cash generation ability shown in 2022 allow us to estimate a further improvement in results for the new year, despite the continuing negative impacts of rising prices related to the purchase of raw materials and services.

From a strategic point of view, the Group intends to continue on the path of consolidating its core business and therefore its leadership in the Books area, from a publishing point of view, by strengthening the identity and specialization of the various publishing houses, and by pursuing the process of vertical integration of book chain activities. In the School textbooks segment, the Group will also complete the operational integration project of D Scuola.

In the Retail area, Mondadori will continue, on the one hand, the selective development of the network of stores functional to the completion of the widespread coverage of the Country, as well as the remodelling and downsizing of stores in order to optimize retail space and maximize network efficiency, and on the other, its efforts to focus on the book product in order to both increase the profitability of the area and to enhance its effectiveness in conveying the Group’s publishing proposition to the market.

In the Media area, the Mondadori Group will concurrently continue on the path of developing its digital skills and range of products, with particular regard to its presence on Social channels and influencer marketing.

Thanks to the financial and capital solidity achieved, the Group can continue on the virtuous path of development it embarked on a few years ago, pursued also through the continued use, especially in the books and digital businesses, of M&As, beneficial to the Group’s intention to continue to seize opportunities for inorganic growth.

Income Statement
The Group’s operating and financial targets that follow refer to a scope that includes only completed extraordinary transactions, therefore:

• in the Books area, full consolidation for the whole year of A.L.I. – Agenzia Libraria International, De Agostini Libri and Libromania (consolidated for 9 months in 2022), as well as Star Comics (consolidated for 6 months in 2022);
• in the Media area, deconsolidation for the whole year of Press-di and the print and digital operations referring to the Grazia and Icon

In light of the above and the relevant context, reasonable estimates for 2023 point to a:

• single-digit growth of revenue, in relation to which the above changes in the consolidation scope will have a neutral impact overall; the different business areas are in fact expected to show different trends: growth in the areas focused on the Book product, an increase in the Digital segment of the Media area, and, consistent with the structural downtrend of markets, a continued reduction in the Print Media business, which is expected at year-end to account for less than 10% of Group revenue;
• Single-digit growth of adjusted EBITDA. Even net of the recognition of relief to the museum business that benefited 2022 (approximately € 6.4 million), not planned however for 2023, adjusted EBITDA would grow high single-digit. Margins are likewise expected to grow – from 14% to 15% – thanks to:
  • targeted pricing policies,
  • careful cost containment policies,
  • completion of the operational integration of D Scuola,

and the Group is confident that it can more than offset the expected increase in costs for raw materials and services;

• the net result for 2023 is expected to grow by approximately 10% – despite higher amortization and depreciation resulting from both the Group’s policy of increasing investments and the effects of the Purchase Price Allocation process – due primarily to the absence of the write-down of certain balance sheet items, which is currently not expected to repeat in the new year.

Cash Flow and Net Financial Position
In 2023, the Group is expected to confirm the significant cash generation ability shown in recent years:

• Cash Flow from Ordinary Operations is expected to range from € 60 to € 65 million, up by as much as 10% versus 2022, net of the one-off impact of derivative instruments related to interest rate risk hedges;
• the Group’s net financial debt (IFRS 16) is expected to stand at 1.0x Adjusted EBITDA at end 2023, down versus 1.3x at end 2022.

Dividend Policy
Thanks to its solid financial and capital standing, the Group returns to a shareholder remuneration policy that will see the distribution of dividends in an annual amount equal to the greater of 40% of Cash Flow from Ordinary Operations and the dividend of the prior year.
Mention should be made that in 2024, from the result of 2023, the Board of Directors intends to propose the Shareholders’ Meeting to pay any dividend in two equal tranches (in May and November).
Each year, the Board of Directors, when proposing the distribution to the Shareholders’ Meeting, will in any case take account of the general macroeconomic scenario, as well as the expected cash flows that will affect the Group’s financial and capital structure.

AGREEMENT SIGNED ON DISPOSAL OF STAKE IN SOCIETA’ EUROPEA DI EDIZIONI
Today Arnoldo Mondadori Editore S.p.A. signed an agreement on the disposal to P.B.F. S.r.l. of the 18.45% stake held in Società Europea di Edizioni (SEE S.p.A.), publisher of the daily Il Giornale.
The provisional consideration for the transaction was set at € 3.7 million and includes an adjustment mechanism based on SEE’s net financial position and net working capital at the closing date, which is contractually scheduled by 30 June 2023. The accounting effects of the disposal will be defined and disclosed on completion of the transaction.
The disposal is consistent with the strategy of focusing on the books segment and on the divestment of non-strategic assets and investments.

PERFORMANCE OF BUSINESS AREAS

• BOOKS

Following the remarkable growth seen in 2021, 2022 witnessed a consolidation phase of the books market, which was basically steady in terms of value (+0.2%) and volume (-0.4%) versus 2021.
Breaking down this trend into the different segments that form the Trade publishing market, the stability seen is the result of a slight growth in the Trade segment in a narrow sense (+1.2%); a stronger increase by Comics (+7.5%), which continued to be the most dynamic segment even after the remarkable growth seen from 2019 to 2021; and a sharp decline in the Professional segment (-14.7%).

Against this backdrop, the publishing houses of the Mondadori Group recorded a growth in sell-out of 2.2% during the year, the result of a gradually improving performance.
Thanks to these results, the Mondadori Group was able to strengthen its domestic leadership with a growing market share, after as many as 5 years, reaching 27% at end 2022.

The School textbooks market (primary and secondary schools) in Italy in 2022 is estimated to increase by approximately 1% versus the prior year, settling at a total of approximately € 605 million; against this backdrop, the Group’s publishing houses recorded a basically steady sales/adoption ratio in secondary schools and achieved a 32.3% market share (including the share of D Scuola), down slightly versus the prior year: the decline is attributable to the primary school segment, marked by greater volatility and lower profitability, and to the reduction recorded by distributed publishers.

Revenue from the area in 2022 amounted to € 576.2 million, up by 23.9% (+7.4 excluding the contribution of D Scuola) versus the prior year, broken down as follows:

• +11.8% in the Trade area, driven by the positive performance of the publishing houses, with a contribution also from De Agostini Libri and Star Comics acquired during the year, along with the sharp upswing of Electa’s museum activities;
• +45.2% in the Education segment, thanks to the consolidation of D Scuola;
• +34.7% in service and distribution activities of third-party publishers, which benefited from the contribution of Libromania.

Despite higher paper purchase costs of over € 11 million, adjusted EBITDA in the Books area in 2022, including the contribution of D Scuola (€ 23.2 million), came to € 118.5 million, up by € 26 million versus 2021.
Profitability achieved by the Books area, amounting to approximately 21% in 2022, is higher than the figure recorded in 2021 (20%).

• RETAIL

The year 2022 saw the continued policy of developing and optimizing the physical network implemented in recent years. This transformation process resulted in improved operational and management performance.

During the year, the Retail area recorded revenue of € 189.2 million, an increase of € 15.3 million (+8.8%) versus 2021.

Ongoing store renovation and focus on the core business of books enabled the Mondadori Store network to consolidate its role on the market (with a 12.5% market share, up by 1.2% versus the prior year), thanks to the solid growth of Books revenue (€ +15.1 million).

Sales by channel show:

• further growth in revenue from directly-managed bookstores (+26.7% versus the prior year) and franchised bookstores (+4.3% versus the prior year);
• a decline in the online channel, after the growth in the previous two years, in line with the negative trend of the entire e-commerce market.

During the year, Mondadori Retail recorded significant growth in adjusted EBITDA, which stood at € 9.1 million (€ +4 million versus 2021).

• MEDIA

In 2022, the Mondadori Group completed the rationalization of its print portfolio, focusing on brands with the highest potential for multimedia development.

In 2022, the Media area revenue amounted to € 177.8 million, down by 13.9% versus 2021.

Excluding the effects of the deconsolidation of the titles sold at end 2021 and Press-di’s distribution business, revenue would have grown by +2%, broken down as follows:

• digital activities, which account for more than 27% of the area’s total revenue, rose sharply by 6% in 2022;
• traditional print activities were down by 4%.

The Media area’s adjusted EBITDA stood at € 14.1 million, growing by 14% versus the prior year, while margins improved by 2 percentage points (from 6% to 8%), attributable mainly to the curbing of operating costs as well as the recognition of a tax receivable of € 1.9 million.

PERFORMANCE OF ARNOLDO MONDADORI EDITORE S.P.A.
The Parent Company’s income statement at 31 December 2022 shows the same profit as in the consolidated financial statements of € 52.1 million (€ 44.2 million in 2021), due to the fact that the Company has chosen to use the equity method to measure its investments in the separate financial statements.
Revenue, which consists of the costs of central units charged back to subsidiaries, amounted to € 41.8 million, basically steady versus the prior year.
Adjusted EBITDA in 2022 came to € -5.7 million (€ -5.4 million in 2021), slightly deteriorating due to higher utility costs from the management of the Segrate HQ.
Reported EBITDA in 2022 stood at € -6.7 million, a sharp improvement versus 2021 (€ -11.4 million), thanks to lower provisions related to restructuring costs.

DIVIDEND DISTRIBUTION PROPOSAL OF € 0.11 PER ORDINARY SHARE
Based on 2022 results, the Board of Directors has proposed to the next Shareholders’ Meeting, convened on 27 April 2023, the distribution of a unit dividend of € 0.11 per ordinary share (net of treasury shares) outstanding at the record date.
Total dividends amounted to € 28.7 million, up by nearly 30% versus the prior year: this amount is equal to a pay-out of 55% of net profit in 2022 and a dividend yield of 6% (at 31 December 2022).
The dividend will be paid, in accordance with the provisions of the “Regulation of the markets organized and managed by Borsa Italiana S.p.A.”, from 24 May 2023 (payment date), with ex-dividend date (coupon no. 22) on 22 May 2023 (ex date) and with the date of entitlement to payment of the dividend, pursuant to Article 83-terdecies of the TUF (record date), on 23 May 2023.

SIGNIFICANT EVENTS AFTER YEAR-END 2022

On 10 January 2023, the Mondadori Group, through its subsidiary Mondadori Media S.p.A., executed the contract for the disposal to Reworld Media S.A. of the print and digital publishing operations of the Grazia and Icon titles, as well as the related international licensing network.
The execution of the transaction took place with the transfer of the business unit heading the operations disposed of to a newly-incorporated company and the concurrent disposal to Reworld Media of 100% of the share capital of the transferee.
On 13 January 2023, the Mondadori Group, through its subsidiary Mondadori Libri S.p.A., concluded the acquisition of a further 25% stake in A.L.I. S.r.l. – Agenzia Libraria International, operating in the distribution of books.
The transaction – which raised the Mondadori Group stake in A.L.I. to 75%, subject to full consolidation as of January 2023 – took place in execution of the agreements defined and disclosed on 11 May 2022 upon acquisition of an initial 50% stake, effective earlier than the date originally scheduled for 28 February 2023. The provisional price, paid entirely in cash, was approximately € 9.5 million and was determined, as already disclosed to the market, on the basis of an average 2021-2022 EBITDA and the positive net financial position (cash) of the scope covered by the transaction.
Additionally, the defined agreements gave the Mondadori Group the right to acquire the remaining 25% in A.L.I., at a price to be determined on the basis of an average 2023-2024 EBITDA, through put&call options exercisable by 30 July 2025.

PROPOSED RENEWAL OF THE AUTHORIZATION TO PURCHASE AND DISPOSE OF TREASURY SHARES
Following expiry of the previous authorization resolved upon by the Shareholders’ Meeting on 28 April 2022, with the approval of the financial statements at 31 December 2022, 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 dispose of treasury shares refer to the expediency to grant the Board of Directors the power to:
  • use the Treasury Shares purchased or already in the Company portfolio as compensation for the acquisition of interests within the framework of the Company’s investments;
  • use the treasury shares purchased or already held in portfolio 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;
  • 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;
  • rely on investment or divestment opportunities, if considered strategic by the Board of Directors, also in relation to available liquidity;
  • dispose of treasury shares to service share-based incentive plans set up pursuant to Article 114-bis of the TUF, and plans for the free allocation of shares to employees or members of the governing bodies of the Company or to Shareholders.

• Duration
  The authorization to purchase treasury shares runs from the date of any resolution approving the proposal by the Shareholders’ Meeting, until the Shareholders’ Meeting called to approve the financial statements at 31 December 2023 and, in any case, for a period no more than 18 months after such date.
  The authorization to dispose of treasury shares is requested for an unlimited period, given the absence of time limits pursuant to current regulations and the opportunity to allow the Board of Directors to make use of the maximum flexibility, also in terms of time, to carry out any disposal of shares.

• Maximum number of purchasable treasury shares
  The authorization would allow the purchase, on one or more occasions and also in several tranches, of a maximum number of ordinary shares with a par value of € 0.26 per share, which – taking account of the treasury shares already held by the Company and any shares that may be acquired by subsidiaries – would not exceed a total of 10% of the share capital.
  In accordance with Article 2357, paragraph 1, of the Italian Civil Code, purchase transactions shall be carried out within the limits of the distributable profits and available reserves resulting from the last duly approved financial statements at the time each possible purchase transaction is carried out. The authorization would include the option to subsequently dispose of the treasury shares purchased, in whole or in part, on one or more occasions and even before having reached the maximum number of purchasable shares.

• Criteria for purchasing treasury shares and indication of the minimum and maximum purchasing cap
  The purchases would be made in compliance with Articles 132 of the TUF, 144-bis, paragraph 1, letters b) and d-ter) of the Issuer Regulation, and so:
  –  on regulated markets or multilateral trading systems, according to the operating criteria established in the organization and management regulations of the same markets, which do not allow the direct matching of buy orders against predetermined sell orders, and also in compliance with any other applicable law, including EU law.
  –  in the manner established by the market practices permitted by CONSOB, as per the combined provisions of Article 180, paragraph 1, lett. C) of the TUF, and Article 13 of Regulation (EU) no. 596 of 16 April 2014 (the “Permitted Market Practices”).
  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.
  The disposal of treasury shares may be made, on one or more occasions and even before having reached the maximum number of purchasable treasury shares, either by selling them on regulated markets or according to other trading methods in compliance with the law, including EU law, in force and with the Admitted Market Practices, if applicable. The proposed authorization envisages that purchases shall be made at a unit price, in compliance with any regulatory requirements, including Community ones, or Admitted Market Practices pro tempore in force, if applicable, it being understood that the minimum and maximum purchase price shall be determined at a unit price no lower than the official Stock Exchange price of Mondadori shares on the day before the purchase transaction, reduced by 20%, and not higher than the official Stock Exchange price on the day before the purchase transaction, increased by 10%. In any event – except for any different price and volume determinations resulting from the application of the conditions set forth in the Admitted Market Practices as defined in Point 6 below – such price shall be identified in accordance with the trading conditions set forth in Delegated Regulation (EU) no. 1052 of 8 March 2016 and, in particular:
  • no shares may 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; and
  • in terms of volumes, daily purchase amounts shall not exceed 25% of the daily average volume of Mondadori shares recorded over the 20 trading days before the dates of purchase, or in the month prior to the month of the notice required by Article 2, paragraph 1, of Regulation (EU) no. 1052/2016.
  • In terms of consideration, sales transactions or other acts of disposition of treasury shares shall be carried out:
  • if executed in cash, at a price no lower than 10% of the reference price recorded on the MTA – Euronext Milan – organized and managed by Borsa Italiana S.p.A. in the trading session prior to each single transaction;
  • if executed as part of any extraordinary transactions in accordance with financial terms to be determined by the Board of Directors on the basis of the nature and characteristics of the transaction, also taking account of the market performance of Mondadori shares;
  • if executed to service the Performance Share Plans as referred to in point 1 above in compliance with the terms and conditions set out in the resolutions of the Shareholders’ Meeting that establish the Plans and the related regulations.

To date, Arnoldo Mondadori Editore S.p.A. holds a total of no. 1,147,991 treasury shares, equal to 0.440% 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 2020-2022 PERFORMANCE SHARE PLAN: INFORMATION PURSUANT TO ARTICLE 84-BIS, PARAGRAPH 5 CONSOB REGULATION NO. 11971/1999
The Board of Directors, based on the final assessment of the Performance Targets underlying the Plan, and having heard the Remuneration and Appointments Committee, resolved to allocate a total of no. 461,189 Arnoldo Mondadori Editore S.p.A. shares to 9 beneficiaries, in implementation of the provisions contained in the “2020-2022 Performance Share Plan” established by the Board of Directors on 17 March 2020 and subsequently adopted by the Shareholders’ Meeting on 22 April 2020 (the “2020-2022 Plan”).
Mention should be made that the 2020-2022 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 same Plan have been achieved.
The 9 beneficiaries of the 2020-2022 Plan are the Chief Executive Officer, the CFO and 7 managers identified by name by the Chief Executive Officer, as delegated by the Board of Directors.
The characteristics of the 2020-2022 Plan are explained in detail in the Directors’ Report to the Shareholders’ Meeting of 22 April 2020 and in the information document contained therein, available on www.gruppomondadori.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 2020-2022 Performance Plan.

PROPOSED ADOPTION OF A 2023-2025 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 2023-2025 Performance Share Plan, in accordance with Article 114-bis of Legislative Decree no. 58 of 24 February 1998, intended for the Chief Executive Officer, 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 granting 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 assignment to the beneficiaries of rights to the free allocation of company shares, subject to the achievement of specific performance targets set and measured at the end of the three-year performance period.
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, as well as indicators of a non-operating/financial nature.
For details on the proposed adoption of the 2023-2025 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.

CONSOLIDATED NON-FINANCIAL STATEMENT PURSUANT TO LEGISLATIVE DECREE 254/2016
Under Legislative Decree 254/2016, the Board of Directors’ 2022 Report on Operations of the Mondadori Group is also composed of the Consolidated Non-Financial Statement (NFS), 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 corruption and bribery, which are relevant given the activities and characteristics of the Company. The NFS was prepared in accordance with GRI Standards: In accordance option, and includes benchmark KPIs related to GRI G4 “Media Sector Disclosure”.
With regard to 2022, the Mondadori Group has updated its materiality analysis, consistent with the principles set out by the GRI Sustainability Reporting Standards (GRI Standards) and the reporting scopes laid down by Legislative Decree 254/2016.
In order to continuously improve the process, stakeholder engagement activities were further expanded in 2022 with the engagement not only of employees, teachers, and bookstore customers, but also of suppliers, financial analysts and investors, with more than 9,500 total answers to the engagement questionnaire.
The document also contains relevant information in line with ESMA’s recommendations for the 2022 reporting year, and includes references required by Regulation (EU) 2020/852 related to the recent introduction of the EU Taxonomy.

In the reporting area, the following are the actions and initiatives taken:

• D&I: synergistic work with all corporate departments and implementation of the indicator system;
• training and development in digital and business innovation: > 40,000 hours;
• education and the school world: approximately 5,000 teachers involved in stakeholder engagement;
• COVID prevention and protection actions for employees and associates;
• energy efficiency actions, reducing gas consumption by 25.2%.

During the year no cases of corruption or bribery involving the Company or its employees were reported, and no legal action was initiated or concluded against the Group or its employees for cases of corruption or reports made within the whistleblowing system.
In 2022, the Mondadori Group once again paid special attention to environmental issues, the specific impacts associated with the life cycle of paper products, and the reduction of climate-changing emissions: this is an approach that guides the Company in the implementation of its activities, from the purchase of certified paper to the efficient management of points of sale and property.

SUSTAINABILITY PLAN GUIDELINES
The Mondadori Group launched its first three-year Sustainability Plan in 2022, which identifies strategic areas, quantitative and qualitative targets, and short- and medium-term actions for the ongoing improvement of performance in social, governance, and environmental terms. The Group’s identity, mission and role as a publisher are reflected in the 3 macro areas and respective guidelines identified, consistent with the global goals of the United Nations.
2022 was a year marked by the constant monitoring of the quantitative goals set, which helped, on the one hand, to accurately record the level of their achievement and, on the other, to identify new future actions for a continuous updating of the Plan.

The goals achieved are as follows:
Social: enhancing people, content and places for education and culture

1. Development and endorsement of a well-structured framework of KPIs for monitoring all D&I-related actions, with specific regard to the gender pay gap and gender balance;
2. Extension to 100% of the school proposition of content/insights in the areas of Sustainability, 2030 Agenda for Sustainable Development, diversity, equity and inclusion, and civic education (80% in 2022; 100% in 2023);
3. Development of the Hybrid working project for the shared definition of a new mixed working model;
4. Ad hoc training in D&I for all Group people;
5. Enhancement of the initiatives/services proposition for the promotion of reading, and ESG training for the Group’s school textbooks editorial offices and teachers.

Governance: promoting sustainable business success

1. Definition and measurement of quantitative and measurable LTI goals related to ESG issues for Top Management (Impact Inclusion Index in the 2022-2024 Performance Share plan).
2. Strengthening of the set of procedures and coverage of the areas of Privacy, Information Management and Cyber Security.
3. Strengthening of programs for protecting intellectual property/copyrights.
4. Enhancement of Stakeholder Engagement activities through the gradual expansion of engagement initiatives.

Environment: disseminating environmental culture and mitigating impacts on ecosystems

1. Extension to 100% of the school proposition of insights and fact sheets dedicated to the environmental culture of the entire school textbooks proposition, and promotion of such content within the Trade range (80% in 2022; 100% in 2023).
2. Fulfilment of ≈100% purchase of PEFC/FSC certified paper for Mondadori Group products.
3. Pursuit of energy efficiency actions, also as part of building/property and store renovation initiatives, and assessment of additional potential pilot activities to reduce greenhouse gas emissions.
4. Launch of the Book Environmental Footprint Life-Cycle Assessment project to measure environmental impacts and setting of “data-based” targets on the reduction of emissions into the atmosphere for ongoing improvement throughout the value chain.

The results for the year ended 31 December 2022, 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). Journalists will be able to follow the presentation in listening mode only, by connecting to the following telephone number +39028020911 and via web https://www.c-meeting.com/web3/join/M37DCPDPQUB3KL. At the end of the meeting, a dedicated session is scheduled where questions may be submitted to management.

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 pdf complete):

1. Consolidated balance sheet;
2. Consolidated income statement;
3. Consolidated income statement – fourth quarter;
4. Group cash flow;
5. Arnoldo Mondadori Editore S.p.A. balance sheet;
6. Arnoldo Mondadori Editore S.p.A. income statement;
7. Arnoldo Mondadori Editore S.p.A. statement of cash flows;
8. Glossary of terms and alternative performance measures used;

Information pursuant to Schedule 7 of Annex 3a to CONSOB Regulation no. 11971/1999