Economic/financial results

The EXOR Group closed the first half of 2013 with a consolidated profit of €1,671.8 million; the first half of 2012 closed with a consolidated profit of €168.3 million. The increase of €1,503.5 million derives principally from higher net gains realized during the half for €1,511.3 million (which basically reflects the sale of the entire stake in SGS for €1,534 million) and other net negative changes for €7.8 million.

At June 30, 2013 the consolidated equity attributable to owners of the parent amounts to €6,192.1 million, with a net increase of €23.3 million, compared with €6,168.8 million at the end of 2012. Further details are provided in the following Note 10.

The consolidated net financial position of the Holdings System at June 30, 2013 is a positive €1,388.5 million and an increase of €1,914.4 million compared with a negative €525.9 million at year-end 2012, mainly owing to the sale of the entire investment in SGS for net proceeds of €2,003.7. Further details are provided in the following Note 11.