Reply annual financial report 2019 REPLY ANNUAL FINANCIAL 2019

[Pages:276]REPLY ANNUAL FINANCIAL REPORT 2019

reply annual financial report

2019

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Annual Financial Report 2019

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Annual Financial Report 2019

CONTENTS

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Contents

6 Board of Directors and Controlling Bodies 10 The Group's financial highlights 12 Letter to Shareholders

14 REPLY LIVING NETWORK

50 REPORT ON OPERATIONS 52 Main risks and uncertainties to which Reply S.P.A and the Group are exposed 56 Review of the Group's economic and financial position 62 Significant Operations in 2019 63 Reply on the stock market 69 The Parent Company Reply S.p.A. 74 Corporate Governance 75 Declaration of non Financial Data 75 Other information 79 Events subsequent to 31 December 2019 79 Outlook on operations 80 Motion for the approval of the financial statement and allocation of the result for

the financial year

82 CONSOLIDATED FINANCIAL STATEMENTS AS AT 31 DECEMBER 2019 84 Consolidated income Statement 85 Consolidated Statement of comprehensive income 86 Consolidated Statement of financial position 87 Consolidated Statement of changes in equity 88 Consolidated Statement of cash flows 89 Notes to the financial Statements 162 Annexed tables 170 Attestation of the Consolidated Financial Statements 172 Report of the Statutory Auditors to the Shareholders' meeting 173 Independent Auditors' Report

182 FINANCIAL STATEMENTS AS AT 31 DECEMBER 2019 184 Income Statement 185 Statement of comprehensive income 186 Statement of financial position 187 Statement of changes in equity 188 Statement of cash flows 189 Notes to the Financial Statements 249 Annexed tables 255 Attestation of the Financial Statements 256 Report on the Statutory Auditors to the Shareholders' meeting 267 Independent Auditors' Report

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Annual Financial Report 2019

BOARD OF DIRECTORS AND CONTROLLING BODIES

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Board of Directors and Controlling Bodies

Chairman and Chief Executive Officer Mario Rizzante

Chief Executive Officer Tatiana Rizzante

Executive Directors Filippo Rizzante Daniele Angelucci Claudio Bombonato Elena Maria Previtera Fausto Forti (1) (2) (3) Secondina Giulia Ravera (1) (2) Francesco Umile Chiappetta (1) (2)

Board of Statutory Auditors

President Giorgio Mosci

Statutory Auditors Piergiorgio Re Ada Alessandra Garzino Demo

Auditing firm PwC S.p.A.

(1) Directors not invested with operational proxies (2) Independent Directors according to the Corporate

Governance code drawn up by the Committee for Corporate Governance (3) Lead Independent Director

This report has been translated into English from the original Italian version, in case of doubt the Italian version shall prevail.

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