Iervolino & Girl Bacardi Leisure Group Consolidated Annual Monetary Report as at 31 December 2021
Father or mother Firm: IERVOLINO & LADY BACARDI ENTERTAINMENT S.P.A.
Registered Workplace: Through Barberini n. 29 – 00187 – ROME
Registered within the Register of Corporations of: ROME Fiscal code and VAT quantity: 11,636,381,003 Registered on the R.E.A. of ROME no. RM-1318599 Subscribed capital Euro: 1,400,644.00 totally paid up 1
ILBE GROUP MANAGEMENT REPORT FOR THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31
DECEMBER 2021
1.
Introduction
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2. The macroeconomic context and the ‘Media & Leisure’ reference trade
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3. The ILBE Group’s enterprise mannequin
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4. Actions carried out in 2021
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5. Backlog and tasks in improvement
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6. Abstract knowledge and different efficiency indicators (APIs)
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7. Transactions with associated events
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8. Human Sources
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9. Analysis and improvement
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10. Disclosure of principal dangers and uncertainties
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11. Difficulty of a bond for Euro 10,000,000
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12. Important occasions occurring after the top of the monetary yr
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13. Administration Outlook
CONSOLIDATED FINANCIAL STATEMENTS AT 31 December 2021
Assertion of the consolidated monetary place
Consolidated assertion of complete earnings for the yr
Consolidated assertion of adjustments in shareholder’s fairness
Consolidated money move assertion
REPORT OF THE AUDITORS EY SPA
ILBE GROUP MANAGEMENT REPORT FOR THE CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2021
1. Introduction
The consolidated monetary statements as at 31 December 2021 of the Iervolino & Girl Bacardi Leisure Group (hereinafter additionally known as the ILBE Group or the Group) characterize the second consolidated monetary statements and embody the dad or mum firm Iervolino & Girl Bacardi Leisure S.p.A. (previously Iervolino Leisure S.p.A.) and the investments in Arte Video S.r.l., Arte Video Llc, R.E.D. Carpet S.r.l., Wepost (previously IExchange) S.r.l. and Iervolino Studios d.o.o. with a minimal change (Arte Video Llc) in comparison with final yr.
Following the shareholders’ assembly decision of June 23rd, the Father or mother Firm modified the corporate identify to ‘Iervolino & Girl Bacardi Leisure S.p.A.’, abbreviated to ‘ILBE S.p.A. ‘to focus extra consideration on international markets. Inside this framework, the choice was made to incorporate the identify of Girl Monika Bacardi, an essential worldwide identify: a girl entrepreneur, our largest shareholder and producer of all our tasks, who has at all times believed strongly within the Firm and the Group.
This was adopted by an actual rebranding course of, which noticed the start of a brand new emblem impressed by the structural parts of the movie reel: a harmonious system of letters, of geometries that dialogue by way of joints and hyperlinks, to evoke the connection, the union, the compactness of concepts, of individuals, of society.
ILBE’s revamped model expresses each the plurality and dynamism of the worldwide firm: the model has been designed in a ‘reassuring’ cage that makes the graphics steady and stable however on the identical time dynamic by means of the altering content material.
The consolidated monetary statements for the yr ended 31 December 2021 closed with whole income of Euro 152,319 thousand, a rise of Euro 31,584 thousand in comparison with 2020 (+26%).
EBIT for the 2021 monetary yr, earlier than sure non-recurring bills of Euro 941 thousand, was Euro 24,443 thousand, up Euro 1,662 thousand in comparison with the identical interval in 2020 (+7%).
These sensible outcomes are the results of the strategic selections of:
(i) (ii)Investing in high quality Mental Properties; basically worldwide market alternative and, predominantly, geared toward a streaming viewers;
(iii) (iv)
Prioritise development and worth creation over time over short-term profitability; Funding and development within the context of economic stability.
The success of the ‘Actic-Associates’ and ‘Puffins’ collections on Apple TV and Amazon Prime Video by way of viewers scores confirms the validity of the alternatives made. Just lately, there has additionally been an settlement for the sale of programming rights for the animated collection‘Puffins’ with
KidsMe, the Youngsters Content material Manufacturing facility Gruppo De Agostini Editore, specialised within the improvement, manufacturing and distribution of Italian and European content material devoted to the Children and Household audience.
Then again, the consequences of the Covid-19 pandemic have been restricted and basically referred to (i) a rise in non-recurring prices for manufacturing in ‘smart-working’ mode equal to roughly 941 thousand of the 2021 monetary yr (741 thousand within the 2020 monetary yr) (ii) a cascade postponement of the manufacturing of movies and (iii) of the associated deliveries, to which the Group responded as from the monetary yr 2020 by bringing ahead sure productions of the net collection ‘Actic-Associates’ and ‘Puffins’ and revising the monetary plans.
2. The macroeconomic context and the ‘Media & Leisure’ reference trade
Some preliminary concerns on future market traits associated to the evolution of the COVID-19 Pandemic
The restriction and subsequent leisure of sure actions of each day life adopted by governments in most international locations to include the pandemic have led to adjustments within the behaviour, actions and needs of the neighborhood, a few of that are in all probability destined to final as a result of they’re the results of an acceleration of dynamics that have been already in progress.
Subsequently, we’re speaking about these traits that, not like momentary ones, foreshadow the long run. Amongst these most analysed by students and specialists, though it should be stated that these dynamics are nonetheless growing and never consolidated, it’s value mentioning the next:
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✓ the brand new frontiers of healthcare;
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✓ the mentality of the brand new generations;
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✓ the centrality of the ESG (Environmental, Social and Governance) issue.
The brand new frontiers of healthcare are more likely to be formed by a regulatory reorganisation of threat safety and risk-taking. Laws alongside these traces may enhance the event of recent medicine, but additionally genomics and precision drugs. In distinction, new guidelines aimed in danger safety may drive new applied sciences able to making certain better preparedness for well being methods.
The brand new era’s mindset is to undertake an internet strategy in all fields, from e-commerce to leisure and e-learning. Right here once more, it’s cheap to assume that we’re within the presence of a development projected properly past the pandemic and that, from an investor’s viewpoint, will reward firms with a stable digital footprint.
Lastly, the dedication and consideration of environmental, social and governance facets to advertise a extra sustainable society and financial system are on the high of the agendas of worldwide society and financial system actors.
The significance of those components may be discovered within the ever-increasing significance of non-financial sustainability reporting (the so-called social report), which, along with an enough communication coverage in compliance with the precept of accountability, constitutes an irreplaceable technique of company characterisation that’s recognised globally.
The macroeconomic and market context: an trade present process world restructuring
The yr 2021 offered itself for media and leisure market gamers with a panorama completely modified by the pandemic. Customers have adopted new habits and preferences,