Giglio.Com — Board/Management Information 2017

Jun 6, 2017

Informazione Regolamentata n. 20076-49-2017		Data/Ora Ricezione 06 Giugno 2017 12:48:16	AIM -Italia/Mercato Alternativo del Capitale
Societa'	:	Giglio Group S.p.A.
Identificativo Informazione Regolamentata	:	90467
Nome utilizzatore	:	GIGLIONSS02 - x
Tipologia	:	REGEM
Data/Ora Ricezione	:	06 Giugno 2017 12:48:16
Data/Ora Inizio Diffusione presunta	:	06 Giugno 2017 12:48:17
Oggetto	:		Giglio Group Press Release June 6 2017
Testo del comunicato

Vedi allegato.

GIGLIO GROUP: Board of Directors approves Disclosure Document on application for trading on the MTA, and prospectively the STAR Segment, in accordance with Borsa Italiana (Italian Stock Exchange) Regulation

Alessandro Santamaria appointed Group Digital & Strategic Managing Director

Milan, June 6, 2017 - Giglio Group (Aim Italia-Ticker GGTV), a leading e-commerce 4.0 enterprise, announces that the Board of Directors today approved submittal of the application for trading on the MTA - and prospectively the STAR Segment - in accordance with the Borsa Italiana Regulation and that approved by the Shareholders' Meeting of April 27, 2017. The application for publication of the disclosure document regarding the floating of ordinary shares of the Issuer and admission to trading on the MTA, and prospectively the STAR Segment, shall be presented to Consob shortly.

The Board of Directors also approved the Disclosure Document prepared as per the Regulation upon Markets Organised and Managed by Borsa Italiana S.p.A. (the "Borsa Italiana Regulation") and declared the adequacy of the reporting system of the company and the main Group companies.

As part of the significant growth and development phase initiated by the Group following the merger by incorporation of Giglio Fashion S.p.A. and M-Three Satcom S.p.A. and the acquisition of Evolve S.p.A. in furtherance of the new e-commerce 4.0 model, the Board of Directors approved the appointment of Alessandro Santamaria as the new Group Digital Managing Director. Santamaria, previously General Manager at Italiantouch of the Diego Della Valle Group - an international company managing the worldwide digital strategy of the Tod's Group Brands - comes with consolidated international digital and e-commerce strategy experience, having (among other roles) been General Manager at Bnk4 Italia (www.saldiprivati.com, the largest private sales e-commerce enterprise in Italy) and CEO of Glamoo Italia (a web and mobile couponing leader).

The Board of Directors also appointed:

• as per the Insider Information external communication policy, Myriam Amato, previously CFO at Giglio Group S.p.A., as Executive Officer for Financial Reporting as per Article 154-bis of Legislative Decree 58/1998
• by co-option Carlo Frigato as a Giglio Group S.p.A. Director until the next Shareholders' Meeting, in accordance with Article 2386, first paragraph of the Civil Code, following the resignation of the Director Massimo Mancini on May 31, 2017 on his appointment as Group General Manager.

The Board also re-approved the 2017 First Quarter Report following some reclassifications impacting the value of revenues and the net profit, which slightly reduced as a result of translisting costs (non-recurring) on completed operations.

The attached tables report the restated amounts.

The Chairman and Chief Executive Officer, Alessandro Giglio, stated: "The completion of the Disclosure Document for upcoming presentation to Consob marks the end of a significant team effort by company personnel and our consultants as part of a number of fast-moving and increasingly complex company developments. I am also excited by the imminent arrival of Alessandro Santamaria at the company, who will surely make a major contribution to the delivery of our ecommerce 4.0 plan in view of his major digital and e-commerce experience".

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Information on Giglio Group

Founded by Alessandro Giglio in 2003 and listed on the AIM market since 7 August 2015, Giglio Group is an e-commerce 4.0 company. 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 55 nations, 5 continents and in six languages through its own television channels (Nautical Channel, Giglio TV, Acqua and PlayMe), 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). In 2017, Giglio Group acquired 100% of Evolve, making it one of the most important e-commerce b2c companies focused on fashion, beauty and design sectors.

Contacts:

Press Office: Spriano Communication&Partners Matteo Russo and Cristina Tronconi Tel. 02 83635708 mob. 347/9834881 mrusso@sprianocommunication.com; ctronconi@sprianocommunication.com

Investor Relations: Francesca Cocco Investor Relations ir@giglio.org (+39)0283974207 Nomad: Banca Finnat S.p.A. Palazzo Altieri, Piazza del Gesù 49 00186 Rome Tel.: (+39) 06 699331

ATTACHMENTS

COMPREHENSIVE INCOME STATEMENT	31.03.2017	31.03.2016
Total Revenues	10.786.122	5.740.931
Other revenues	24.625	26.578
Change in inventories	202.824	81.449
Purchase of raw materials, ancillary, consumables and goods	-5.224.477	-1.623.212
Service costs	-2.853.539	-1.981.427
Rent, lease and similar costs	-141.781	-116.609
Operating Costs	-8.219.797	-3.721.248
Salaries and wages	-333.828	-246.192
Social security charges	-97.887	-47.968
Post-employment benefits	-14.985	-6.876
Personnel costs	-446.700	-301.035
Amortisation of intangible assets	-759.952	-395.746
Depreciation of property, plant & equip.	-468.999	-465.920
Write-downs	727	-4.233
Amortisation, depreciation & write-downs	-1.228.225	-865.899
Other operating costs	-2.271	-75.581
EBIT	1.116.580	885.196
Net financial income (charges)	-88.772	-25.275
Profit before tax	1.027.808	859.921
Income taxes	-189.189	-240.344
Net Profit	838.619	619.577

CONSOLIDATED BALANCE SHEET	31.03.2016	31.12.2016
NON-CURRENT ASSETS
Tangible Assets	6.628.469	6.965.001
Intangible assets	9.732.031	8.710.066
Distribution rights	-	-
Publishing rights	9.443.398	8.426.571
Other intangible assets	288.633	283.495
Goodwill	4.134.439	4.134.439
Investments	0	-
Receivables	146.122	139.658
Deferred tax assets	198.396	198.396
NON-CURRENT ASSETS	20.839.457	20.147.560
CURRENT ASSETS
Inventories	2.970.685	2.768.653
Trade receivables and others	17.745.526	18.888.840
Financial receivables	-	-
Tax Receivables	2.118.697	1.599.166
Other assets	637.844	531.552
Cash and cash equivalents	1.635.014	1.817.010
CURRENT ASSETS	25.107.766	25.605.220
TOTAL ASSETS	45.947.223	45.752.780
EQUITY
Share capital	2.963.650	2.963.650
Reserves	7.750.086	7.750.087
Listing charges	-540.755	-540.755
FTA Reserve	3.814	3.814
Retained earnings	2.607.890	1.283.690
Currency reserve	-4.699	-582
Net Profit	838.619	1.325.483
EQUITY	13.618.605	12.785.387
NON-CURRENT LIABILITIES
Provisions for risks and charges	266.831	282.864
Deferred tax liabilities	336.862	365.879
Financial payables	7.702.206	7.635.603
NON-CURRENT LIABILITIES	8.305.899	8.284.346
CURRENT LIABILITIES
Trade and other payables	16.129.025	18.310.718
Financial payables	5.474.053	4.418.250
Tax payables	1.584.737	1.337.944
Other liabilities	834.904	616.135
CURRENT LIABILITIES	24.022.719	24.683.047
EQUITY + LIABILITIES	45.947.223	45.752.780