The Corporate sector includes Group finance, parent company functions supporting Group companies and the business divisions.
Such services mainly involve ITC services, accounting, management control and planning, treasury and finance, human resources, legal and corporate affairs, and external communication.
Revenues derive essentially from charges made to subsidiaries, associated companies and other users of the aforementioned services.
Mondadori International
In November the company transferred its registered office and operations to Italy.
Financial assets under management by the company on 31 December 2010 amounted to €33.8 million (€114.3 at the end of 2009).
The company recorded a loss of €7.5 million, partly due to a €5.2 million writedown of the Greek subsidiary Attica Publications SA.
At the end of the year the portfolio was made up as follows:
- current accounts, cash equivalents and time deposits with leading Italian banks with maximum expiry dates of less than three months: €7.5 million;
- bonds at variable rates available for sale: €26.3 million.