Economic/financial results

The EXOR Group ended the first nine months of 2014 with a consolidated profit of €142 million; the corresponding period of 2013 closed with a consolidated profit of €1,743.4 million. The decrease of €1,601.4 million is principally due to lower gains realized during the period and lower dividends received. Specifically, in the first nine months of 2013 EXOR had reported a net gain of €1,534 million on the sale of the entire investment in SGS from which dividends had also been received of €55.7 million.

In the third quarter of 2014 consolidated profit was €84.6 million; the same period of the prior year reported consolidated profit of €71.6 million. The positive change of €13 million is primarily due to the increase in the share of the results of the investment holdings of €24.8 million and other net positive changes of €0.5 million, partially offset by the negative change in net financial expenses of €12.3 million. Net financial expenses in the third quarter of 2013 included the net gains on the redemptions from the Perella Weinberg Funds of €15.7 million against €5.1 million reported in the third quarter of 2014.

At September 30, 2014 consolidated equity attributable to owners of the parent amounts to €7,826.2 million, with a net increase of €878.8 million compared to the year-end 2013 balance of €6,947.4 million. Additional details are provided in the following Note 10.

The consolidated net financial position of the Holdings System at September 30, 2014 is positive for €1,324.5 million, an increase of €43.3 million over the year-end 2013 positive balance of €1,281.2 million. Additional details are provided in the following Note 11.

Commercial Register No.64236277 Legal notes | Credits