Annual report 2015

Letter to shareholders

Elkann

Dear Shareholders,

EXOR’s Net Asset Value, or NAV, grew by 21.2% in 2015, outperforming the MSCI World Index denominated in Euros (our benchmark), which grew by just 8.3% during the same period. 

 

Lettera agli azionisti

NAV
€ millions31/12/201431/12/2015Change%
Investments 8,34710,139 1,792 +21.5%
Financial investments 663579 (84) -12.7%
Cash and cash Equivalents 2,2334,035 1,802 +80.7%
Treasury stock 762433 (329) -43.2%
Gross Asset Value 12,00515,186 3,181 +26.5%
Gross Debt (1,671)(2,698) (1,027) +61.5%
Ordinary holding costs over ten years (170)(170) - -
Net Asset Value (NAV) 10,16412,318 2,154 +21.2%
Commercial Register No.64236277 Legal notes | Credits