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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
2. BASIS OF PRESENTATION OF THE FINANCIAL STATEMENTS
The financial statements have been prepared in accordance with Spanish GAAP enacted by Royal Decree 1514/2007
of November 16, which was amended by Royal Decree 1159/2010, of September 17, and all prevailing mercantile law.
The figures shown in these financial statements are presented in thousands of euros unless otherwise indicated.
True and fair view
The accompanying annual financial statements have been prepared from the Company’s accounting records in
accordance with prevailing accounting legislation in order to give a true and fair view of the equity, financial position and
results of the Company, as well as the cash flows reported in the cash flow statement.
These financial statements have been prepared by the directors of the Company and will be submitted for approval by
the shareholders in general meeting. It is expected that they will be approved without modification.
Comparative information
Thus, in accordance with mercantile law, for comparative purposes the Company has included the 2014 figures in
addition to those of 2015 for each item of the balance sheet, of the income statement, of the statement of changes in
equity and of the cash flow statement.
In accordance with the terms of the single additional provision of the Resolution of the Institute of Accounting and
Auditors of Accounts on information to be included in notes to the financial statements regarding the average payment
period to suppliers, the Company will only present the information for the year in Note 8.4, rather than comparative
information; therefore, these are considered first-time financial statements for these exclusive effects, with regard to the
application of the uniformity principle and the comparability requirement.
The notes to the financial statements also include quantitative information from the previous year, except when an
accounting standard specifically establishes this as unnecessary.
Preparation of the consolidated financial statements
The Company, as the parent of a corporate group in accordance with mercantile law and given that it is a listed company,
is obliged to present consolidated financial statements in accordance with the International Accounting Standards as
approved by the European Union. Accordingly, the corresponding consolidated financial statements were prepared
together with these individual financial statements. Consolidated equity and net profit for the year ended December
31, 2015 amounting to 1,060,785 thousand euros and 166,167 thousand euros, respectively.
Critical issues concerning the assessment of uncertainty
The preparation of the Company’s annual financial statements requires the Directors to make judgments, estimates
and assumptions which affect the application of accounting principles and the balances of assets, liabilities, income and
expenses, and the disclosure of contingent assets and liabilities at the reporting date.These estimates and assumptions
are based on historical experience and various other factors believed to be reasonable under the circumstances, the
results of which form the basis for making judgments about the carrying amount of the assets and liabilities that are not
readily apparent from other sources.Those estimates and assumptions are reviewed on an ongoing basis.The effects of
the reviews of the accounting estimates are recognized in the period during which they are carried out, if they relate