Informazione Regolamentata n. 20076-65-2018 Data/Ora Ricezione 10 Settembre 201820:05:35 MTA
Informazione Regolamentata n. 00000-00-0000 | Data/Ora Ricezione 10 Settembre 2018 20:05:35 | MTA |
Societa' : Giglio Group S.p.A.
Identificativo Informazione Regolamentata
: 108268
Nome utilizzatore : GIGLION04 - xMarlene Schranz Tipologia : 1.2
Data/Ora Ricezione : 10 Settembre 2018 20:05:35
Data/Ora Inizio Diffusione presunta
: 10 Settembre 2018 20:05:36
Oggetto : Giglio Group_PR_H1 2018 Results
Testo del comunicato
Vedi allegato.
GIGLIO GROUP: H1 2018 RESULTS REFLECTING MAJOR REVENUE ADVANCES - PARTICULARLY THANKS TO E-COMMERCE AREA - APPROVED
EXTREMELY STRONG XXXX.XX MULTIBRAND ONLINE STORE INITIAL VISIT AND USER FIGURES
• Revenues (IFRS 15) of Euro 27.4 million in H1 2018, +30.3% on H1 2017 (Euro 21 million1), with pro-forma2 growth of 6.8%
• Strong e-commerce business growth in terms of volumes +20% and revenues with a progress of 8.1% (IFRS 15) on the pro-forma figure for the previous year, with EBITDA up 36.6% on the H1 2017 pro-forma figure2 ;
• EBITDA, adjusted3 for non-recurring charges of Euro 4.8 million, up 15.2% on H1 2017 (Euro
4.2 million), with an 18% margin on IFRS 15 revenues;
• Net Profit, adjusted3 for non-recurring charges of Euro 0.9 million, reduces on H1 2017 (Euro 2 million), mainly due to increased amortisation and depreciation on Media sector investments and higher financial charges and income taxes;
• Net Financial Debt of Euro 17.5 million (Euro 14.8 million at December 31, 2017);
• Xxxxx Xxxxxxx, current company director, appointed new Chief Financial Officer and Investor Relator of the Group and Xxxxxxx Xxxxxxx, current Group General Manager, appointed as the Executive Officer for Financial Reporting.
• Xxxx.xx, the multibrand online store (xxx.xxxx.xx), launched in June 2018, supplying the best of global fashion and the first commerce TV channel, airing on channel 68 of digital terrestrial TV, permitting the immediate and simultaneous purchase of the fashion broadcast.
***
1 H1 2017 consolidated figures restated, applying effects from application of IFRS 15 retrospectively.
2 H1 2017 Pro-forma consolidated figures restated, applying effects from application of IFRS 15 retrospectively. The Pro-forma figures include the Ibox Group (former E-volve) in the consolidation from January 1, 2017.
3 EBITDA, EBIT and net profit adjusted for non-recurring charges totalling approx. Euro 0.9 million, principally relating to the listing on the MTA market, STAR segment, managed by Borsa Italiana.
Xxxxx, September 10, 2018 - The Board of Directors of Giglio Group S.p.A. (Ticker GGTV) (“Giglio Group” or the “Company”) – the leading e-commerce 4.0 platform listed since March 20, 2018 on the MTA-STAR segment of the Italian Stock exchange - meeting today approved the Half-Year Report at June 30, 2018, drawn up as per IFRS.
The Group posted H1 2018 Revenues (IFRS 15) of Euro 27.4 million, up 30.3% on Euro 21 million1 in the same period of 2017. The impact of IFRS 15 entirely reflects on the revenues and costs generated by Ibox. Solely for informational purposes, it is reported that Revenues of H1 2018, as per the accounting standards applied in 2017 (before IFRS15), would amount to approx. Euro 52 million, compared to proforma H1 2017 revenues of Euro 47.7 million. EBITDA3 adjusted for non- recurring charges of Euro 4.8 million, up 15.2% on the same period of the previous year. The increases mainly relate to ecommerce area growth, thanks also to the consolidation of the Evolve SA Group (now iBox SA) on April 27, 2017. Adjusted Net Profit3 of Euro 0.9 million reduces on H1 2017 due to increased amortisation and depreciation on Media sector investments subsequent to June 30, 2017 and higher financial charges and income taxes on the same period of the previous year.
Net Financial Debt of Euro 17.5 million increases on Euro 14.8 million at December 31, 2017.
***
“ The first half results demonstrate the strength of Giglio Group’s business model, and have exceeded the published business plan in terms of revenues and EBITDA, laying the foundations of a 2019 that will express its full potential”. Xxxxxxxxxx Xxxxxx, Chairman and Chief Executive Officer of Giglio Group, stated “At the beginning of June, we simultaneously launched in Italy our T-Commerce on channel 68 of digital terrestrial and our multibrand store xxxx.xx on the web, transforming the business model and resulting both in increased costs and lower Media sector revenues - although the initial results emerging in the summer are highly satisfying and reward our efforts. Just a few weeks from launch, xxxx.xx recorded over 115k unique users, with over 135k sessions and 8k newsletter subscribers - a result which beat our expectations. In the first half of the year, we have invested to create this new and innovative business line, which will provide an additional and major source of future revenues. The excellent results delivered in the first six months of the year by the Group, in addition to the strategic agreements signed and the initiatives undertaken, have put us on the path to a 2019 full of expectation”.
***
Giglio Group consolidated operating-financial performance
Consolidated post-IFRS 15 revenues of Euro 27.4 million, up 6.8% 2 on the H1 2017 pro-forma figure (Euro 25.7 million);
By business area, we report:
2 H1 2017 Pro-forma consolidated figures restated, applying effects from application of IFRS 15 retrospectively. The Pro-forma figures include the Ibox Group (former E-volve) in the consolidation from January 1, 2017.
✓ for the Media division revenues of Euro 9.5 million, up 4.3% on the same period of the previous year (Euro 9.1 million in 2017); Media division revenue growth stems from the performance of the subsidiary Giglio TV, while impacted by the launch of Tcommerce and channels 65 and 68 which are beginning to deliver their initial results and which will contribute to future e- commerce revenues;
✓ for the ecommerce division revenues of Euro 18 million, increasing 8.1% on the pro-forma figure for the previous year (Euro 16.6 million in 2017).
In terms of regional breakdown, Revenues in the first half of 2018 were concentrated for 77% in the Eurozone and UK, for 19% in Asia and for 4% in the USA.
Operating Costs, net of non-recurring costs, amounted to Euro 20.4 million (Euro 19.1 million in H1 20172), following the growth in business volumes and with the main increases concerning product acquisition costs, service costs and rent, leases and similar costs.
Personnel costs amount to approx. Euro 2.2. million, increasing Euro 0.4 million on the pro-forma figure for the same period of the previous year2, principally thanks to the expanded workforce at the Ibox Group and the development of the organisation, which now has qualified key area figures on board and in compliance with the STAR segments issuers’ regulation, while also substantially contributing to management, business development and sales. This cost structure is in line with the new e-commerce 4.0 business model, currently under gradual development by the Group and whose e-commerce component has expanded.
Non-recurring charges of Euro 0.9 million concern for Euro 0.5 million the costs incurred by the Group in the first half of 2018 for transfer to the main STAR segment and of Euro 0.4 million in the form of penalties for the failure to provide notice following the settlement signed in May 2018 with the previous provider of television bandwidth.
Adjusted EBITDA3 amounts to Euro 4.8 million (pro-forma figure in H1 2017 of Euro 4.8 million 2), substantially in line with the pro-forma consolidated figures for the previous year, with a margin decreasing to 18% from 19% in 2017, due to the transfer from April 2018 from a more strictly television-based model focused on sales revenues and advertising spaces to the mixed model of e- commerce 4.0 (T-commerce), for which the e-commerce revenue contribution increasingly takes precedent. The higher costs incurred impacting the margin are fundamental to transforming the business model, which the Group expects will very strongly benefit Group results even in the next few years.
Adjusted EBIT3 was Euro 1.5 million and includes increased amortisation and depreciation due to the Media sector investments subsequent to H1 2017.
Adjusted Group Net Profit3 of Euro 0.9 million (adjusted pro-forma net profit of Euro 2 million2 in H1 2017). This result was impacted by increased financial charges of Euro 0.5 million, principally due
2 H1 2017 Pro-forma consolidated figures restated, applying effects from application of IFRS 15 retrospectively. The Pro-forma figures include the Ibox Group (former E-volve) in the consolidation from January 1, 2017.
3 EBITDA, EBIT and net profit adjusted for non-recurring charges totalling approx. Euro 0.9 million, principally relating to the listing
on the MTA market, STAR segment, managed by Borsa Italiana.
to higher factoring service costs (sought in May 2017) and interest on new loans drawn down subsequent to the first half of 2017, in addition to higher amortisation and depreciation on the Media sector investments made subsequent to the first half of 2017. A significant increase in income taxes on the previous year is also expected.
Equity and Financial Position at June 30, 2018
The Net Capital Employed at June 30, 2018 amounts to Euro 34.2 million, principally comprised of Net Fixed Assets of Euro 32.1 million (increasing on December 31, 2017 by Euro 2.3 million) and Net Working Capital totalling Euro 2.1 million (Euro 1.6 million at December 31, 2017).
Property, plant and equipment of Euro 6.2 million (Euro 6.8 million at December 31, 2017) principally concern specific Media division plant.
Intangible assets of Euro 25.2 million, of which Euro 11.7 million concerning the goodwill relating to the acquisitions of Giglio Fashion and of Evolve (Euro 22.6 million at December 31, 2017, of which Euro 4.7 million of goodwill concerning Giglio Fashion). The overall change of Euro 2.6 million refers to the capitalisation of the publishing rights.
Financial assets of Euro 639 thousand, of which Euro 155 thousand concerning the acquisition of the investments in Pegaso Srl, Class Tv Moda and Cloud Foo, and Euro 484 thousand principally concerning guarantee deposits.
Group Shareholders’ Equity of Euro 16,639 thousand at June 30, 2018, decreasing by Euro 53 thousand compared to December 31, 2017.
Net Financial Debt at June 30, 2018 of Euro 17.5 million, increasing on December 31, 2017 (Euro
14.8 million) by Euro 2.8 million, mainly due to the following factors:
negative for:
✓ Euro 1.2 million of credit lines in support of increasing Working Capital due to the seasonal effect of Distribution division business, in relation to Autumn/Winter 2018 orders;
✓ Increased loan payables of Euro 4.4 million;
positive for:
✓ Higher cash and cash equivalents for Euro 1.3 million;
✓ Reduction in the payable for Earn Outs for Euro 0.5 million and of the payable for the bond loan subscribed by Banca Sella in May 2017 of Euro 1 million, repaid in May 2018, which reduced “other current financial payables”;
In general, the increase in the financial debt relates to the working capital changes in support of e- commerce operations, which, by their inherent nature, require advances of liquidity, in addition to the payment of certain non-recurring costs e.g. those incurred for the listing transfer.
Significant events
-On March 20, 2018, the company Giglio Group was admitted to listing on the STAR segment of the MTA, concluding the translisting initiated in 2017. The translisting process did not involve market fundraising.
-On March 21, 2018, Giglio Group S.p.A. signed a joint venture agreement with Acque Minerali d’Italia S.p.A., one of the leading four mineral water companies in Italy, led by Xxxxxxx Xxxxxxx, with the incorporation of the company Cloud Food - held 51% by Giglio Group and 49% by Acque Minerali d’Italia S.p.A.. Cloud Food is an innovative technological platform, proposing itself as a truly alternative and innovative distribution channel for Made in Italy food products, permitting the flexible management of orders on an online subscription basis, also through the innovative T- commerce option available on the Giglio Group channels. Comprising 3 divisions (Food Digital, Food Distribution, Food Media), Cloud Food shall provide tailor-made e-commerce 4.0 B2C and B2B services, from the creation of e-commerce platforms, to the management of food and beverage products and consumer goods on all the main global marketplaces. Cloud Food will therefore be the first Digital Company to introduce to the market a fusion of promotion on the traditional and digital media (TV channels and video) and selling through online platforms, revolutionising the e- shopping experience with a new e-commerce 4.0 integrated model.
The partnership between Giglio Group and Acque Minerali brings together the distinctive expertise and operations of the two Groups, i.e.: on the one hand, the technological, digital and T-commerce linked to television knowledge of Giglio Group, and on the other Acque Minerali d’Italia’s market leadership, with a pipeline of new interesting products and an extensive domestic distribution network.
-Also on March 21, 2018, Giglio Group presented the new Ibox 65 channel, a T-commerce channel dedicated to the world of the home and family (home, food, furniture, design and family), available on channel 65 of terrestrial digital TV and the first T-commerce channel in Italy to provide the option to purchase the products distributed by Giglio Group and Cloud Food also on TV.
-On June 27, 2018, Giglio Group agreed with a leading credit institution the without recourse factoring of a VAT receivable requested for repayment from the Tax Agency through the 2018 VAT Declaration, referring to financial year 2017. The amount requested for repayment and subject to factoring was Euro 1.5 million, while the without recourse factoring payment agreed was Euro 1.4 million, settled as follows:
- Euro 1.2 million paid on June 26, 2018;
- Euro 0.3 million to be paid following the settlement of the disputes and charges forwarded by the Tax Agency concerning the tax assessments/settlement notices received in previous years and which the company has been permitted to settle in instalments.
***
Information xx Xxxxxx Group
Founded by Xxxxxxxxxx Xxxxxx in 2003 and listed on MTA- STAR market, Giglio Group is an e-commerce 4.0 company addressing mainly millennial consumers. The group is a leader in the field of radio and television broadcasting, it has developed cutting-edge digital solutions and represents, in online fashion, a digital market place at a global level, catering to thirty major digital retailers in the world. Giglio Group also produces multimedia content that is transmitted, through agreements with operators and in a large part through a proprietary infrastructure via fiber and satellite transmission formed by the division M-Three Satcom, in 92 nations, 5 continents and in six languages through its own television channels visible on all TV devices, digital, web and mobile. In 2016, the group launched its own e-commerce 4.0 model, which is currently operating in China and the USA: the users "see and buy" by clicking on their smartphone/tablet or taking a photograph of the product they are watching on television, for a revolutionary shopping experience. Giglio Group is headquartered in Milan, Rome, New York (Giglio USA) and Shanghai (Giglio Shanghai).
CONTACTS
Press Office:
Spriano Communication&Partners Xxxxxx Xxxxx and Xxxxxxxx Xxxxxxxx Tel. 00 00000000 mob. 347/9834881
xxxxxx@xxxxxxxxxxxxxxxxxxxx.xxx xxxxxxxxx@xxxxxxxxxxxxxxxxxxxx.xxx
Investor Relations:
Xxxxxxxxx Xxxxx Investor Relations xx@xxxxxx.xxx
(x00)0000000000
Consolidated statement of financial position
Consolidated statement of financial position (€’000) | 30.06.2018 | 31.12.2017 | ||
Non-current assets Property, plant and equipment | 6,213 | 6,829 | ||
Intangible assets of which: distribution rights of which: publishing rights | - | 13,519 13,129 | - | 10,926 10,573 |
Other intangible assets | 390 | 353 | ||
Goodwill | 11,718 | 11,718 | ||
Equity investments | 155 | 150 | ||
Receivables | 484 | 142 | ||
Deferred tax assets | 923 | 941 | ||
Total non-current assets Current assets Inventories | 33,012 5,317 | 30,706 6,729 | ||
Trade and other receivables Financial receivables Tax assets | 22,710 - 9,566 | 20,926 - 9,822 | ||
Other assets | 3,495 | 3,010 | ||
Cash and cash equivalents | 7,508 | 6,209 | ||
Total current assets | 48,596 | 46,696 | ||
Total assets | 81,608 | 77,402 | ||
Equity | ||||
Share capital | 3,208 | 3,208 | ||
Reserves Extraordinary reserve Listing costs | 12,011 - (541) | 11,374 - (541) | ||
FTA reserve | 4 | 4 | ||
Retained earnings | 1,963 | 2,609 | ||
Translation reserve | (7) | (5) | ||
Profit for the period/year | 1 | 43 | ||
Total equity attributable to the owners of the parent | 16,639 | 16,692 | ||
Equity attributable to non-controlling interests Total equity Non-current liabilities Provisions for risks and charges | - 16,639 735 | - 16,692 864 | ||
Deferred tax liabilities | 241 | 282 | ||
Financial liabilities (non-current portion) | 10,008 | 9,201 | ||
Total non-current liabilities Current liabilities Trade and other payables | 10,984 31,943 | 10,347 33,728 | ||
Financial liabilities (current portion) | 15,047 | 11,763 | ||
Tax liabilities | 4,020 | 3,581 | ||
Other liabilities | 2,975 | 1,291 | ||
Total current liabilities | 53,985 | 50,363 | ||
Total liabilities and equity | 81,608 | 77,402 |
Consolidated income statement | ||
Consolidated income statement (€’000) First half of 2018 | First half of 2017 | |
Total revenue 26,939 | 27,363 | |
Other revenue 493 | 141 | |
Change in inventories 1,407 | 956 | |
Costs for raw materials, consumables, supplies and goods (9,740) | (15,951) | |
Services (11,893) | (7,646) | |
Use of third party assets (572) | (375) | |
Operating costs (22,205) | (23,972) | |
Wages and salaries (1,745) | (909) | |
Social security contributions (368) | (234) | |
Post-employment benefits (TFR) (57) | (17) | |
Personnel expense (2,170) | (1,160) | |
Amortisation of intangible assets (2,466) | (1,615) | |
Depreciation of property, plant and equipment (789) | (879) | |
Allowance for impairment (20) | 0 | |
Amortisation/depreciation and impairment losses (3,275) | (2,494) | |
Other operating costs (519) | (411) | |
Operating profit 670 | 423 | |
Financial income 22 | 34 | |
Net financial expense (481) | (353) | |
Pre-tax profit 211 | 104 | |
Income tax (210) | 53 | |
Profit for the period 1 | 157 | |
Of which: attributable to non-controlling interests - | - | |
Basic and diluted earnings per share (0.0002) | 0.0088 | |
Statement of comprehensive income | ||
STATEMENT OF COMPREHENSIVE INCOME (€’000) First half of 2018 | First half of 2017 | |
Profit for the period | 1 | 157 |
Other comprehensive income | ||
Items that will be reclassified subsequently to profit or loss, net of taxes | ||
Translation reserve | (1) | (9) |
Total items that will be reclassified subsequently to profit or loss, net of taxes | (1) | (9) |
Items that will not be reclassified to profit or loss, net of taxes | ||
Actuarial loss - employee benefits | (2) | (17) |
Total items that will not be reclassified to profit or loss, net of taxes | (2) | (17) |
Total comprehensive income for the period | (3) | 131 |
STATEMENT OF CASH FLOWS | ||||
(€’000) | First half of 2018 | First half of 2017 | ||
Cash flows from operating activities Profit for the period | 1 | 156 | ||
Adjustments for: Depreciation | 789 | 885 | ||
Amortisation (Reversal of) impairment lossses Net financial expense | 2,466 - 459 | 1,663 - 319 | ||
Income tax Changes in: Inventories | 210 1,412 | (53) (1,580) | ||
Trade receivables | (1,784) | 7,173 | ||
Tax assets | 256 | (1,299) | ||
Other assets | (485) | (2,780) | ||
Deferred tax liabilities | (40) | (76) | ||
Trade payables | (1,784) | (4,357) | ||
Tax liabilities | 439 | (133) | ||
Other liabilities | 1,685 | 1,173 | ||
Change in net working capital | (301) | (1,879) | ||
Change in reserves | (129) | 163 | ||
Cash generated by (used in) operating activities | 3,495 | 1,254 | ||
Interest paid | (459) | (319) | ||
Income tax paid | (210) | 53 | ||
Net cash generated by (used in) operating activities Cash flows from investing activities Investments in property, plant and equipment | 2,826 (173) | 988 (340) | ||
Investments in intangible assets | (5,059) | (2,882) | ||
Acquisition of Evolve Group, net of cash acquired Acquisition of Giglio Fashion, net of cash acquired Other non-current assets | - - (324) | 558 - (448) | ||
Increase in equity investments Change in consolidation scope Net cash used in operating activities | (5) (5,561) | (150) (3,262) | ||
Cash flows from financing activities Capital increase | - | - | ||
Changes in E | (54) | (25) | ||
New loans | 5,500 | 2,700 | ||
Loans repaid | (1,088) | - | ||
Change in loans and borrowings | (323) | 91 | ||
Net cash generated by financing activities | 4,035 | 2,766 | ||
Net decrease in cash and cash equivalents | 1,300 | 492 | ||
Cash and cash equivalents at 1 January | 6,209 | 1,817 | ||
Cash and cash equivalents at 30 June | 7,508 | 2,307 | ||
Change in accounting policies
IFRS impact on the consolidated financial statements
Below is a description of the impact of IFRS 15 on the consolidated financial statements at 30 June 2018.
Consolidated statement of financial position
Consolidated statement of financial position (€’000) | 30.06.2018 reported | IFRS adjustments | 30.06.2018 no IFRS adjustments | ||
Non-current assets | |||||
Property, plant and equipment | 6,213 | 6,213 | |||
Intangible assets | 13,519 | 13,519 | |||
of which: distribution rights | - | - | |||
of which: publishing rights | 13,129 | 13,129 | |||
Other intangible assets | 390 | 390 | |||
Goodwill | 11,718 | 11,718 | |||
Equity investments | 155 | 155 | |||
Receivables | 484 | 484 | |||
Deferred tax assets | 923 | 923 | |||
Total non-current assets | 33,012 | 33,012 | |||
Current assets | |||||
Inventories | 5,317 | 1,303 | 6,620 | ||
Trade and other receivables | 22,710 | 22,710 | |||
Financial receivables | - | - | |||
Tax assets | 9,566 | 9,566 | |||
Other assets | 3,495 | 3,495 | |||
Cash and cash equivalents | 7,508 | 7,508 | |||
Total current assets | 48,596 | 49,899 | |||
Total assets | 81,608 | 82,911 | |||
Equity | |||||
Share capital | 3,208 | 3,208 | |||
Reserves | 12,011 | 12,011 | |||
Extraordinary reserve | - | - | |||
Listing costs | (541) | (541) | |||
FTA reserve | 4 | 4 | |||
Retained earnings | 1,963 | 1,963 | |||
Translation reserve | (7) | (7) | |||
Profit for the period | 1 | 1 | |||
Total equity attributable to the owners of the parent | 16,639 | 16,639 | |||
Equity attributable to non-controlling interests | - | - | |||
Total equity | 16,639 | 16,639 | |||
Non-current liabilities | |||||
Provisions for risks and charges | 735 | 735 | |||
Deferred tax liabilities | 241 | 242 | |||
Financial liabilities (non-current portion) | 10,008 | 10,008 | |||
Total non-current liabilities | 10,984 | 10,985 | |||
Current liabilities | |||||
Trade and other payables | 31,943 | 1,303 | 33,245 | ||
Financial liabilities (current portion) | 15,047 | 15,047 | |||
Tax liabilities | 4,020 | 4,020 | |||
Other liabilities | 2,975 | 2,975 | |||
Total current liabilities | 53,985 | 55,287 | |||
Total liabilities and equity | 81,608 | 82,911 |
Consolidated income statement | ||||
Consolidated income statement (€’000) | First half of 2018 | IFRS adjustments | First half of 2018 | |
reported | no IFRS adjustments | |||
Total revenue | 26,939 | 24,838 | 51,777 | |
Other revenue | 493 | 493 | ||
Change in inventories | 1,407 | (1,567) | (160) | |
Costs for raw materials, consumables, supplies and goods | (9,740) | (23,271) | (33,011) | |
Services | (11,893) | (11,893) | ||
Use of third party assets | (572) | (572) | ||
Operating costs | (22,205) | (23,271) | (45,476) | |
Wages and salaries | (1,745) | (1,745) | ||
Social security contributions | (368) | (368) | ||
Post-employment benefits (TFR) | (57) | (57) | ||
Personnel expense | (2,170) | 0 | (2,170) | |
Amortisation of intangible assets | (2,466) | (2,466) | ||
Depreciation of property, plant and equipment | (789) | (789) | ||
Allowance for impairment | (20) | (20) | ||
Amortisation/depreciation and impairment losses | (3,275) | 0 | (3,275) | |
Other operating costs | (519) | (519) | ||
Operating profit | 670 | 0 | 670 | |
Financial income | 22 | 22 | ||
Net financial expense | (481) | (481) | ||
Pre-tax profit | 211 | 0 | 211 | |
Income tax | (210) | (210) | ||
Profit for the period | 1 | 0 | 1 | |
Of which: attributable to non-controlling interests | - | - | ||
Basic and diluted earnings per share | (0.0002) | (0.0002) | ||
Statement of comprehensive income | ||||
STATEMENT OF COMPREHENSIVE INCOME (€’000) | First half of 2018 | IFRS adjustments | First half of 2018 | |
no IFRS adjustments | ||||
Profit for the period | 1 | 1 | ||
Other comprehensive income | ||||
Items that will be reclassified subsequently to profit or loss, net of taxes | ||||
Translation reserve | (1) | (1) | ||
Total items that will be reclassified subsequently to profit or loss, net of taxes | (1) | (1) | ||
Items that will not be reclassified to profit or loss, net of taxes | ||||
Actuarial loss - employee benefits | (2) | (2) | ||
Total items that will not be reclassified to profit or loss, net of taxes | (2) | (2) | ||
Total comprehensive income for the period | (3) | (3) | ||
Numero di Pagine: 14
Fine Comunicato n.20076-65