Half Year Financial Report at December 31st,
2020
(1st half of the financial year 2020/2021)
Digital Bros S.p.A.
Via Tortona, 37 - 20144 Milan, Italy
VAT Number and Tax Number 09554160151
Share capital: Euro 6,024,334.80 of which Euro 5,704,334,80 subscribed
Milan Register of Companies 290680-Vol. 7394 Chamber of Commerce 1302132
This report is available in the Investors section of the Company's website at www.digitalbros.com
Please note that this is an Italian to English translation and that the Italian version shall always prevail
in case of any discrepancy or inconsistency.
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Digital Bros Group Half Year Financial Report for the period ended December 31st, 2020
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Contents | ||
Board of Directors and Governance Structure | 4 | |
Half Year Report | 6 | |
1. | Group organization | 6 |
2. | Video games market | 10 |
3. | Performance indicators and seasonality effects | 13 |
4. | Significant events of the reporting period | 14 |
5. | Consolidated income statement at December 31st, 2020 | 17 |
6. | Consolidated financial position at December 31st, 2020 | 21 |
7. | Segment reporting | 23 |
8. | Intercompany and related party transactions and atypical/unusual transactions | 32 |
9. | Treasury shares | 34 |
10. | Management of operational risks, financial risks and financial instruments | 34 |
11. | Contingent assets and liabilities | 34 |
12. | Subsequent events | 34 |
13. | Outlook | 35 |
14. | Other information | 36 |
Condensed consolidated financial statements at December 31st, 2020 | 37 | |
Consolidated statement of financial position at December 31st, 2020 | 39 | |
Consolidated income statement at December 31st, 2020 | 40 | |
Consolidated statement of comprehensive income at December 31st, 2020 | 41 | |
Consolidated cash flow statement at December 31st, 2020 | 42 | |
Consolidated statement of changes in equity | 43 | |
Consolidated statements prepared in accordance with CONSOB Resolution no. 15519 | 44 | |
Notes to the condensed consolidated financial statements at December 31st, 2020 | 47 | |
1. | Introductory note | 48 |
2. | Consolidation methods | 52 |
3. | Investments in joint-ventures and associated companies | 53 |
Reconciliation of results for the period and equity of the parent company to those of the | ||
4. | Group | 54 |
5. | Analysis of the statement of financial position | 56 |
6. | Analysis of the consolidated income statement | 73 |
7. | Non-recurring income and expenses | 75 |
8. | Information by operating segment | 75 |
9. | Related party transactions | 80 |
10. | Atypical or unusual transactions | 81 |
Statement pursuant to Art. 154- bis (5) of the Consolidated Finance Act | 82 |
Digital Bros Group Half Year Financial Report for the period ended December 31st, 2020
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Board of Directors | |
Sylvia Anna Bartyan | Independent Director |
Lidia Florean | Non - Executive Director |
Abramo Galante | Chairman and Chief Executive Officer |
Davide Galante | Non - Executive Director |
Raffaele Galante | Chief Executive Officer |
Susanna Pedretti | Indipendent Director |
Stefano Salbe | Executive Director(1) |
Laura Soifer | Indipendent Director (2) |
Dario Treves | Executive Director |
- Financial reporting manager pursuant to Art. 154 bis of Legislative Decree 58/98
- Lead Independent Director
Control and Risk Committee
Sylvia Anna Bartyan
Susanna Pedretti
Laura Soifer (Chairman)
Remuneration Committee
Sylvia Anna Bartyan
Susanna Pedretti (Chairman)
Laura Soifer
Board of Statutory Auditors | |
Gianfranco Corrao | Statutory Auditor |
Carlo Hassan | Chairman |
Maria Pia Maspes | Statutory Auditor |
Daniela Delfrate | Substitute Statutory Auditor |
Stefano Spiniello | Substitute Statutory Auditor |
The Shareholders' Meeting held on October 28th, 2020 appointed the Board of Directors and Board of Statutory Auditors. The terms of the Directors and the Statutory Auditors will end within the Shareholders'
Meeting which will approve the financial statements as at June 30th, 2023.
On October 28th, 2020, the Shareholders' Meeting appointed Abramo Galante as Chairman of the Board of
Directors. On the same date, the Board of Directors appointed Abramo Galante and Raffaele Galante as
Chief Executive Officers. The CEOs were given appropriate powers.
On August 7th, 2007, the Board of Directors appointed Executive Director Stefano Salbe to the position of
financial reporting manager pursuant to Art. 154 bis of Legislative Decree 58/98 and gave him appropriate
powers.
Digital Bros Group Half Year Financial Report for the period ended December 31st, 2020
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Auditors
Deloitte & Touche S.p.A.
On October 26th, 2012, the Shareholders' Meeting appointed Deloitte & Touche S.p.A, Via Tortona 25, Milan, as corporate auditors until the approval of the financial statements as at June 30th, 2021.
Other information
The publication of the Half Year Financial Report of Digital Bros Group for the six months period ended December 31st, 2020 was authorised by a resolution of the Board of Directors on March 9th, 2021.
Digital Bros S.p.A. is incorporated and operating in Italy. It is listed on the STAR segment of the MTA market operated by Borsa Italiana S.p.A..
Digital Bros Group Half Year Financial Report for the period ended December 31st, 2020
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Digital Bros S.p.A. published this content on 07 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2021 07:59:00 UTC.