Business outlook

EXOR S.p.A. expects to report a profit for the year 2012.

At the consolidated level, the year 2012 should show a profit which, however, will largely depend upon the performance of the principal subsidiaries and associates. Their most recent forecasts are presented below.

 

Fiat Industrial Group

On the back of the Fiat Industrial Group’s performance to date and our expectations of continuing strong trading conditions across all sectors, especially CNH, Fiat Industrial is setting 2012 guidance as follows:

  • Revenues of approximately €25 billion;
  • Trading profit between €1.9 billion and €2.1 billion;
  • Net income of approximately €0.9 billion;
  • Net industrial debt between €1.0 billion and €1.2 billion;
  • Cash and cash equivalents in excess of €4.0 billion;
  • Capital expenditures between €1.2 billion and €1.4 billion.

 

Fiat Group

Fiat remains fully committed to the strategic direction laid out in the 5-year plans that were outlined in November 2009 for Chrysler and April 2010 for Fiat.

Having reviewed economic and trading conditions in the Group’s four operating regions, Fiat confirms the expectations of performance in North America, Latin America and Asia-Pacific. 

Events of the past 12 months have cast doubt on the volume assumptions governing the overall market and the Group’s own development plans for Europe up to the end of 2014. The level of uncertainty regarding economic activity in the Euro zone for the foreseeable future has made specific projections of financial performance unreliable.

As a result, the Group has provided guidance for 2012 in terms of ranges, from continuing depressed trading conditions in Europe to a gradual stabilization at the end of 2012.

As a consequence, the Fiat Group’s 2012 full year guidance is as follows:

  • Revenues in excess of €77 billion;
  • Trading profit between €3.8 to €4.5 billion;
  • Net profit between €1.2 to €1.5 billion;
  • Net industrial debt between €5.5 to €6.0 billion.

The Fiat Group expects to articulate the effect of the Euro zone economic climate on its 2014 plan when releasing the results of the third quarter of 2012.

 

C&W Group

C&W Group remains focused on achieving its goals, and looks forward to the balance of 2012 expecting year-over-year revenue and EBITDA growth, as compared with 2011. There is caution regarding the global economic outlook due to the European sovereign debt issue and the ongoing uncertainty that have resulted in businesses, households and investors remaining cautious and risk averse, which has inhibited growth across the globe.

Almacantar

During the second half of 2012, Almacantar will continue activities aimed at increasing the value of its investments in the center of London (Center Point and Marble Arch Tower and CAA House). The acquisition of CAA House was completed during July 2012. An application for a building permit to convert Centre Point Tower into exclusive residential apartments was submitted in May 2012.

The London real estate market should remain stable due to the continuous request for rental space and regular interest from institutional investors. Almacantar believes there are further opportunities to increase value in the real estate market.

As anticipated, Almacantar reported a profit for the first half of 2012. Positive results are expected to continue for the rest of 2012 thanks to the rental revenues generated by the properties that it currently owns.

 

Juventus Football Club

A significant loss has been estimated for 2011/2012, although lower than the previous year, as the result is still negatively affected by the club's absence from the UEFA Champions League and the economic effects of the campaign to renew the bench of First Team players. Revenues will further benefit from the opening of the new stadium owned directly by the Club, as well as from a moderate increase generated by the centralized sale of television and radio rights.

 

Commercial Register No.64236277 Legal notes | Credits