Wanda Group: €34.7bn turnover in 2016, "one fourth" from Wanda Cultural (includes Wanda Sports)

The Chinese conglomerate Wanda Group posted a turnover of 254.98bn yuan (€34.7bn) during the 2016 fiscal year, down 13.9% compared to 2015, the group announced at the annual general meeting of its shareholders on 16/01/2017. "Operating revenue did not increase significantly (up 3.4%), and net profit posted an impressive two-digit growth," indicated the conglomerate, which did not disclose all exact figures.

56% of the turnover of the group (65.6% in 2015) comes from the "Commercial Properties" division (real estate and hotels), which posted 143.02bn yuan (€19.5bn) in revenue, down 25%. The Wanda Cultural Industry Group, which includes Wanda Sports Holding, the division of the conglomerate active in sports (whose holdings include Infront Sports & Media agencies and World Triathlon Corporation, which merged to form Wanda Sports, and 20% of Club Atlético de Madrid), "contributed more than one fourth of Wanda Group’s revenue in 2016," according to the Wanda Group press release.

For the 2017 fiscal year, Wanda Group is projecting for 265.8bn yuan (€36.2bn) in turnover, up 4.2%. Wanda…