CONSOLIDATED INTERIM REPORT ON OPERATIONS
THREE MONTHS ENDED MARCH 31, 2021
(FIRST QUARTER 2021)
Prepared according to IAS/IFRS
Unaudited
Gruppo MutuiOnline S.p.A. (in breve Gruppo MOL S.p.A. o MOL Holding S.p.A.)
Sede Legale: Via F. Casati, 1/A - 20124 Milano, Italy Sede Operativa: Via Desenzano, 2 - 20146 Milano, Italy
Tel +39.02.8344.1 - Fax +39.02.91.39.08.63 - internet: www.gruppomol.it C.F. e P.I. 05072190969 - REA 1794425 - CCIAA 05072190969
Capitale Sociale Euro 1.012.354,01 Interamente Versato
INDEX | |||
1. | GOVERNING BODIES AND OFFICERS AS OF MARCH 31, 2021 ....................................... | 3 | |
2. | ORGANIZATIONAL STRUCTURE ................................................................................................. | 4 | |
3. | CONSOLIDATED FINANCIAL STATEMENTS.......................................................................... | 7 | |
3.1. | Income statement................................................................................................................................. | 7 | |
3.1.1. | Quarterly consolidated income statement..................................................................................................... | 7 | |
3.1.2. | Consolidated income statement for the three months ended March 31, 2021 and 2020 ............................... | 8 | |
3.2. | Balance sheet......................................................................................................................................... | 9 | |
3.2.1. | Consolidated balance sheet as of March 31, 2021 and December 31, 2020 ............................................... | 9 | |
3.3. | Net financial position......................................................................................................................... | 10 | |
3.3.1. | Net financial position as of March 31, 2021 and December 31, 2020 .................................................... | 10 | |
4. | EXPLANATORY NOTES TO THE FINANCIAL STATEMENTS......................................... | 11 | |
4.1. | Accounting principles and general valuation criteria..................................................................... | 11 | |
4.2. | Consolidation area.............................................................................................................................. | 11 |
4.3. Comments to the most significant changes in items of the consolidated financial
statements.......................................................................................................................................................... | 11 | |
4.3.1. | Income statement ..................................................................................................................................... | 11 |
4.3.2. | Balance sheet........................................................................................................................................... | 12 |
4.3.3. | Net financial position .............................................................................................................................. | 12 |
4.4. | Segment reporting .............................................................................................................................. | 12 |
4.4.1. | Revenues by Division............................................................................................................................... | 13 |
4.4.2. | Operating income by Division .................................................................................................................. | 13 |
4.4.3. | EBITDA by Division............................................................................................................................ | 13 |
5. DIRECTORS' REPORT ON OPERATIONS AND SIGNIFICANT EVENTS..................... | 14 | |
5.1. | Evolution of the Italian retail mortgage market............................................................................. | 14 |
5.2. | Broking Division: report on operations and foreseeable evolution............................................ | 14 |
5.3. | BPO Division: report on operations and foreseeable evolution................................................. | 15 |
6. DECLARATION OF THE MANAGER RESPONSIBLE FOR PREPARING THE
COMPANY'S FINANCIAL REPORTS............................................................................................ | 16 |
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1. GOVERNING BODIES AND OFFICERS AS OF MARCH 31, 2021
BOARD OF DIRECTORS | |
Chairman | Marco Pescarmona (1) (3) (5) (7) |
Chief Executive Officer | Alessandro Fracassi (2) (3) (5) |
Directors | Anna Maria Artoni (4) |
Fausto Boni | |
Chiara Burberi (4) | |
Matteo De Brabant | |
Giulia Bianchi Frangipane (4) | |
Klaus Gummerer (4) (6) | |
Valeria Lattuada (4) | |
Marco Zampetti | |
BOARD OF STATUTORY AUDITORS | |
Chairman | Stefano Gnocchi |
Active Statutory Auditors | Paolo Burlando |
Francesca Masotti | |
Substitute Statutory Auditors | Filippo Colonna |
Barbara Premoli | |
INDEPENDENT AUDITORS | EY S.p.A. |
COMMITTEES OF THE BOARD OF DIRECTORS | |
Audit and Risk Committee | |
Chairman | Chiara Burberi |
Giulia Bianchi Frangipane | |
Marco Zampetti | |
Remuneration and Share Incentive Committee | |
Chairman | Anna Maria Artoni |
Valeria Lattuada | |
Matteo De Brabant | |
Committee for Transactions with Related Parties | |
Chairman | Valeria Lattuada |
Anna Maria Artoni | |
Klaus Gummerer |
- The Chairman is the Company's legal representative.
- The Chief Executive Officer legally represents the Company, dis-jointly from the Chairman, within the limits of the delegated powers.
- Executive Director.
- Independent non-executive Director.
- Holds executive offices in some Group companies.
- Lead Independent Director.
- Executive Director in charge of overseeing the Internal Control System.
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2. ORGANIZATIONAL STRUCTURE
Gruppo MutuiOnline S.p.A. (the "Company" or the "Issuer") is the holding company of a group of firms (the "Group") with an important position in the Italian market for the online comparison, promotion and intermediation of products provided by financial institutions, e-commerce operators and utilities providers (main websites www.mutuionline.it, www.prestitionline.it, www.segugio.it, www.trovaprezzi.itand www.sostariffe.it) and in the Italian market for the provision of complex business process outsourcing services for the financial sector.
The Issuer controls, also indirectly, the following companies:
- MutuiOnline S.p.A., Money360.it S.p.A, PrestitiOnline S.p.A., CercAssicurazioni.it S.r.l., Segugio.it S.r.l., 7Pixel S.r.l., Klikkapromo S.r.l., Innovazione Finanziaria SIM S.p.A., SOS Tariffe S.r.l.: companies operating in the market for the online comparison, promotion and intermediation of products provided by financial institutions, e-commerce operators to retail consumers and utilities providers; together they represent the "Broking Division" of the Group;
- Centro Istruttorie S.p.A., Centro Finanziamenti S.p.A., Quinservizi S.p.A., CESAM S.r.l., Mikono S.r.l., Centro Processi Assicurativi S.r.l., EuroServizi per i Notai S.r.l., MOL BPO S.r.l., Agenzia Italia S.p.A., 65Plus S.r.l., Eagle & Wise Service S.r.l., Eagle Agency S.r.l., Gruppo Lercari S.r.l. (and its subsidiaries) and Finprom S.r.l. (a company with registered office in Romania): companies operating in the Italian market for the provision of complex business process outsourcing services for the financial sector; together they represent the "BPO (i.e. Business Process Outsourcing) Division" of the Group;
- PP&E S.r.l.: offering real estate renting and support services to the other Italian subsidiaries of the Issuer.
It should be noted that Gruppo Lercari S.r.l. controls the following subsidiaries: Lercari S.r.l., Service Lercari S.r.l., Sircus S.r.l., San Filippo S.r.l., JPL S.r.l., Lercari International Ltd (a company with registered office in UK), Forensic Experts S.r.l., GSA S.r.l., Centro Servizi Integrati S.r.l. and Lercari Motor S.r.l. (together, the "Lercari Group").
In addition, the Issuer owns 40% of the share capital of Generale Servizi Amministrativi S.r.l., 40% of the share capital of Zoorate S.r.l. through subsidiary 7Pixel S.r.l., 50% of the share capital of the joint venture PrestiPro S.r.l., 40% of the share capital of Generale Fiduciaria S.p.A., 70% of the share capital of Fin.it S.r.l. (non-controlled company) through subsidiary Agenzia Italia S.p.A. 40% of the share capital of LC Servizi S.r.l., 50% of the share capital of Sircus Gandino S.r.l. and 50% of the share capital of Global Care S.r.l. in liquidazione, through the subsidiary Gruppo Lercari S.r.l..
On February 1, 2021, following the registration of the merger act, the process of merging Segugio Servizi S.r.l., SOS Consulting S.r.l. and SOS Dev S.r.l. into SOS Tariffe S.r.l. was completed, with accounting effect from January 1, 2021.
On February 28, 2021, the Group acquired the remaining 50% stake of Agenzia Italia S.p.A. from Gruppo Finanziaria Internazionale for a price of Euro 35,000 thousand, in line with the estimated liability previously recorded in the financial statements due to the existence of reciprocal put/call options. At the same time, the Group sold a 15.50% stake to the management of the subsidiary (which previously held a similar indirect shareholding) at the same price per share. On such stake, the parties agreed on new reciprocal put/call agreements with a maturity of 5 years, at terms and conditions similar those of the previous options.
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Therefore, the consolidation area as of March 31, 2021 is the following:
Broking Division:
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Gruppo MutuiOnline S.p.A. published this content on 14 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 May 2021 16:04:02 UTC.