Arenella Immobiliare S.r.l.
(100% capital)
The key figures taken from the financial statements for the first year ended December 31, 2015 of Arenella Immobiliare S.r.l. are as follows:
| € million | 12.31.2015 | 12.31.2014 | Change |
|---|---|---|---|
| Profit for the year | 0.1 | 0.2 | (0.1) |
| Equity | 26.3 | 26.1 | 0.2 |
| Lido Arenella hotel property | 25.9 | 26.3 | (0.4) |
| Net financil position | 0.2 | (0.3) | 0.5 |
The year 2015 shows a profit of €0.1 million. The €0.1 million decrease from 2014 is mainly due to the effect of the tax benefit from ACE transferred to EXOR in the course of participating in the national tax consolidation with EXOR.
The net reduction in the carrying amount of the Lido Arenella hotel property of €0.4 million is due to the depreciation charge for the year of €0.6 million, partially offset by extraordinary maintenance work of €0.2 million.
Beginning September 30, 2016 Arenella Immobiliare will be able to exercise an option to acquire, as set out in the March 12, 2012 agreement signed between the parties, the hotel concession and the beach area concession of the adjacent to the hotel complex.
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