Giglio.Com — Audit Report / Information 2018

Apr 15, 2019

Statements of accounts at 31/12/2018 of extra-EU foreign subsidiaries pursuant to Art. 36 of Consob Market Regulation

CONTENTS

• 1. Preamble
• 2. IBOX SA
• 3. Nautical Channel Limited
• 4. Giglio TV HK Limited
• 5. GIGLIO USA LLC

PREAMBLE

In accordance with the provisions set forth in Art. 36, par. 1, letter a) of Consob Market Regulation (adopted on 29 October 2007 with Resolution no. 16191 as amended and integrated), Giglio Group S.p.A., through this document, makes available to the public the statements of accounts of its subsidiaries established and governed by laws of non-EU countries and identified as relevant based on the criteria set forth in par. 2 of Art. 36 of the Consob Market Regulation.

More specifically, a summary of the balance sheet and of the income statement of these companies as drafted for the purpose of creating the consolidated financial statement of Giglio Group at 31 December 2018 is shown below.

IBOX SA

Registered Office: Galleria 1 Via Cantonale, 6928 Manno, Switzerland

Share capital: CHF 1,882,000

Balance Sheet	31.12.2018
(Euro thousands)
Non-current assets
Property, plant & equipment	80
Intangible assets	420
Equity investments	1,499
Receivables	157
Deferred tax assets	39
Total non-current assets	2,195
Current assets
Trade and other receivables	3,546
Tax receivables	5,009
Other assets	1,742
Cash and cash equivalents	1,471
Total current assets	11,768
Assets held for sale	-
Total Assets	13,963
Net Worth
Share capital	1,700
Reserves	(1,599)
Net profit	327
Total Net Worth	428
Non-current liabilities
Provisions for risks and charges	522
Financial payables (non-current portion)	2,593
Total non-current liabilities	3,115
Current liabilities
Trade and other payables	8,537
Tax payables	1,513
Other liabilities	370
Total current liabilities	10,420
Assets held for sale and liabilities directly associated with assets held for sale	-
Total liabilities and net worth	13,963

Income statement (Euro thousand)	31.12.2018
Total revenues	11,425
Other revenues	0
Change in inventories	0
Purchase of raw materials, ancillary, consumables and goods	0
Service costs	(8,826)
Rent, lease and similar costs	(166)
Operating costs	(8,992)
Personnel expense	(1,246)
Amortisation, depreciation & write-downs	(182)
Other operating costs	(464)
Operating profit	541
Financial income	0
Net financial expenses	(225)
Profit before taxes	316
Income taxes	11
Net Profit	327

NAUTICAL CHANNEL LIMITED

Registered office: 346a Farnham Road Slough Berkshire SL2 1BT (UK)

Share capital: € 5

Balance Sheet (Euro thousands)	31.12.2018
Non-current assets
Property, plant & equipment	1
Intangible assets	2,859
Total non-current assets	2,860
Current assets
Trade and other receivables	185
Other assets	8
Cash and cash equivalents	71
Total current assets	264
Assets held for sale	-
Total Assets	3,124
Net Worth
Share capital	-
Reserves Net profit	1,432 (1,132)
Total Net Worth	300
Non-current liabilities
Financial payables (non-current portion)	180
Total non-current liabilities	180
Current liabilities
Trade and other payables	2,495
Financial payables (current portion)	22
Tax payables	113
Other liabilities	14
Total current liabilities	2,644
Assets held for sale and liabilities directly associated with assets held for sale	-
Total liabilities and net worth	3,124

Income statement (Euro thousand)	31.12.2018
Total revenues	3,207
Other revenues	0
Change in inventories	0
Purchase of raw materials, ancillary, consumables and goods	0
Service costs	(752)
Rent, lease and similar costs	(5)
Operating costs	(757)
Personnel expense	(114)
Amortisation, depreciation & write-downs	(3,348)
Other operating costs	0
Operating profit	(1,012)
Financial income	0
Net financial expenses	(7)
Profit before taxes	(1,019)
Income taxes	(113)
Net Profit	(1,132)

GIGLIO TV HK LIMITED

Registered Office: Unit 305 – 7,3/F, Laford Centre,838, Lai Chi Kok Road, Cheung Sha Wan,

Kowloon, Hong Kong

Share capital: € 1,530,000

Balance Sheet	31.12.2018
(Euro thousands)
Non-current assets
Property, plant & equipment	1,114
Intangible assets	46
Equity investments	41
Receivables	299
Total non-current assets	1,500
Current assets
Trade and other receivables	4,389
Cash and cash equivalents	10
Total current assets	4,399
Assets held for sale	6,000
Total Assets	11,899
Net Worth
Share capital	1,530
Reserves	3,316
Net profit	(3,333)
Total Net Worth	1,513
Non-current liabilities
Financial payables (non-current portion)	2,589
Total non-current liabilities	2,589
Current liabilities
Trade and other payables	6,963
Financial payables (current portion)	200
Tax payables	634
Total current liabilities	7,797
Assets held for sale and liabilities directly associated with assets held for sale	-
Total liabilities and net worth	11,899

Income statement (Euro thousand)	31.12.2018
Total revenues	4,913
Other revenues	0
Change in inventories	0
Purchase of raw materials, ancillary, consumables and goods	(6)
Service costs	(573)
Rent, lease and similar costs	0
Operating costs	(579)
Personnel expense	(1)
Amortisation, depreciation & write-downs	(7,662)
Other operating costs	0
Operating profit	(3,329)
Financial income	0
Net financial expenses	(4)
Profit before taxes	(3,333)
Income taxes	0
Net Profit	(3,333)

GIGLIO USA LLC

Registered office: One Wall Street, 6th Floor, BURLINGTON, MA 01803 REPRESENTATIVE OFFICE

111 West 19th Street (6th Floor), 10011 New York, NY USA

Share Capital: € 18,000

Balance Sheet	31.12.2018
(Euro thousands)
Non-current assets
Property, plant & equipment	1
Total non-current assets	1
Current assets
Inventories	321
Trade and other receivables	1,295
Other assets	117
Cash and cash equivalents	105
Total current assets	1,838
Assets held for sale	-
Total Assets	1,839
Net Worth
Share capital	18
Reserves	83
Net profit	199
Total Net Worth	300
Non-current liabilities
Financial payables (non-current portion)	111
Total non-current liabilities	111
Current liabilities
Trade and other payables	1,341
Tax payables	87
Total current liabilities	1,428
Assets held for sale and liabilities directly associated with assets held for sale	-
Total liabilities and net worth	1,839

Income statement (Euro thousand)	31.12.2018
Total revenues	3,452
Other revenues	0
Change in inventories	94
Purchase of raw materials, ancillary, consumables and goods	(2,368)
Service costs	(746)
Rent, lease and similar costs	(25)
Operating costs	(3,139)
Personnel expense	(154)
Amortisation, depreciation & write-downs	0
Other operating costs	0
Operating profit	253
Financial income	39
Net financial expenses	(1)
Profit before taxes	291
Income taxes	(92)
Net Profit	199