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CONSOLIDATED FINANCIAL STATEMENTS AND CONSOLIDATED MANAGEMENT REPORT 2015
Ernst & Young, S.L.
Torre Picasso
Plaza Pablo Ruiz Picasso, 1
28020 Madrid
España
Tel: 915 727 200
Fax: 915 727 238
ey.comDomicilio Social: Pl. Pablo Ruiz Picasso, 1. 28020 Madrid -
Inscrita en el Registro
Mercantil de Madrid al Tomo 12749, Libro 0, Folio 215, Sección 8, Hoja M-23123, Inscripción 116. C.I.F. B-78970506.
A member firm of Ernst & Young Global Limited.
Translation of a report and consolidated financial statements originally issued in Spanish. In the event
of discrepancy, the Spanish-language version prevails (See Note 28)
INDEPENDENT AUDIT REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
To the Shareholders of MEDIASET ESPAÑA COMUNICACIÓN, S.A.:
Report on the consolidated financial statements
We have audited the accompanying consolidated financial statements of MEDIASET ESPAÑA
COMUNICACIÓN, S.A. (the parent company) and its subsidiaries (the Group), which comprise
consolidated statement of financial position at December 31, 2015, the consolidated separate income
statement, the consolidated statement of comprehensive income, the consolidated statement of
changes in equity, the consolidated statement of cash flow, and the notes thereto for the year then
ended.
Directors' responsibility for the consolidated financial statements
The directors of the parent company are responsible for the preparation of the accompanying
consolidated financial statements so that they give a true and fair view of the consolidated equity and
consolidated financial position and the consolidated results of MEDIASET ESPAÑA COMUNICACIÓN,
S.A. and its subsidiaries, in accordance with International Financial Reporting Standards (IFRS), as
adopted by the European Union, and other provisions in the regulatory framework applicable to the
Group in Spain, and for such internal control as they determine is necessary to enable the preparation
of consolidated financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor's responsibility
Our responsibility is to express an opinion on the accompanying consolidated financial statements
based on our audit. We conducted our audit in accordance with prevailing audit regulations in Spain.
Those standards require that we comply with ethical requirements and plan and perform the audit to
obtain reasonable assurance about whether the consolidated financial statements are free from
material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the consolidated financial statements. The procedures selected depend on the auditor’s judgment,
including the assessment of the risks of material misstatement of the consolidated financial statements,
whether due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the preparation of consolidated financial statements by the directors of the parent company
in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes
evaluating the appropriateness of accounting policies used and the reasonableness of accounting
estimates made by management, as well as evaluating the overall presentation of the consolidated
financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.