The battle with Vivendi for Mediaset and the 75 million lost by Milan in the second half of 2016 weigh on Fininvest's balance sheet which in 2016 recorded losses of 120 million euros.
The same holding led by the Berlusconi family highlights the "very serious damage" caused by the French giant led by Vincent Bollorè's failure to comply with the agreements on the acquisition of Premium on which the judges will now have to express themselves.
Going into detail, in 2016, the red line of the Fininvest group amounted to 120,2 million, compared to a substantial breakeven in 2015. The result was affected by non-recurring charges of 336,4 million, linked to the Vivendi affair, which consolidated operating loss of €188,7 million (+€225,6 million in 2015). Mediaset closed last year with a loss of almost 300 million. The net result, excluding the non-recurring costs and the further losses of Milan relating to the second half of the year, is positive for 46,9 million. Consolidated revenues grew by 6,6% to 5.050,8 million. The club's losses, underlined the note, were recognized by the buyer at the time of the sale as a component of the sale consideration. Fininvest's consolidated revenues grew by 6,6% to 5.050,8 million. Debt rose to 1.279,9 million compared to 977,6 as at 31 December 2015. Investments amounted to 1.053,8 million and include investments of 312,9 million in equity investments, financial assets and business combinations, including Rizzoli Libri , Banzai Media and the former Finelco radio activities. Total consolidated shareholders' equity is 4.268,7 million.
In the note published today, the company underlines that the results must be seen in a ""completely particular context, given the significant extraordinary events that characterized it alongside the important strategic choices implemented during the year".
Furthermore, the group "has made investments of broad strategic importance, such as those of Mondadori in Rizzoli Libri and Banzai Media and of Mediaset in the radio sector, while in parallel the parent company Fininvest has laid the foundations for the completion of the sale of AC Milan, finalized during current financial year”. All these actions will have a positive impact on the 2017 financial statements, a year in which a capital gain of approximately 600 million euros is estimated thanks to the sale of the Rossoneri club.
