EXOR S.p.A. expects to report a profit for 2015.

At the consolidated level, 2015 will show a profit which, however, will largely depend upon the performance of the principal subsidiaries and associates. The forecasts formulated by these companies prepared under IFRS: FCA, Almacantar, Juventus and C&W Group, and under US GAAP: CNH Industrial and reported in their financial reports at March 31, 2015 are presented below.



FCA confirms its full-year guidance:


  • Worldwide shipments in 4.8 to 5.0 million unit range;
  • Net revenues of approximately €108 billion;
  • Adjusted EBIT (1) in €4.1 to €4.5 billion range;
  • Net profit in €1.0 to €1.2 billion range, with Basic EPS in €0.64 to €0.77 range;
  • Net industrial debt in €7.5 to €8.0 billion range.


Figures do not include any impacts for the previously announced capital transactions regarding Ferrari announced by FCA during 2014

(1) This is a non-GAAP financial measure used to measure its performance.  Adjusted EBIT is computed by subtracting the following from EBIT: gains and losses on the disposals of investments, restructuring costs, impairments, asset write-offs and other unusual items, which are considered rare or discrete events that are infrequent in nature.


CNH Industrial

CNH Industrial confirms full-year guidance, reflecting current currency exchange rates as follows:

  • Net revenues of Industrial Activities in the range of $26-$27 billion, with operating margin of Industrial Activities held at 6.1% to 6.4%;
  • Net industrial debt expected between $2.1 billion and $2.3 billion at year-end 2015. 


In January 2015 vacant possession of the Centre Point building was secured and refurbishment works began on site and are expected to take 27 months with practical completion scheduled for April 2017.

A revised application for Marble Arch Tower was submitted in November 2014 with several improvements to the planning applications approved in July 2014 for both the Marble Arch Tower and Edgware Road schemes; this application was approved in February 2015.

The London real estate market should remain stable due to strong demand for commercial and residential space from institutional investors and occupiers. Almacantar plans to maximize income generation in the period before any potential redevelopment. It is Almacantar’s intention to further expand the portfolio and a range of investment opportunities are being reviewed.

Positive results are expected for the year ended December 31, 2015. 

Juventus Football Club

In the current year, Juventus Football Club allocated significant resources to further strengthen the First Team bench, keep players on its staff and lay the foundation for the future inclusion of young players with excellent prospects.

As a consequence the result for the full-year is currently still expected to be a loss and will be influenced by increases in costs relating to sports management and by increases in revenues and variable expenses more directly correlated to the sporting results that will actually be achieved in Italy and Europe.

Juventus’ objective is to build on the improvement in financial performance achieved during the previous three financial years

C&W Group

The strong commercial real estate environment that drove global markets in 2014 has continued, increasing activity across C&W Group’s platform into 2015. Looking ahead, C&W Group expects positive activity to continue in 2015. In particular, rising employment in the U.S. should boost demand for space across property types at a time of modest inventory growth, leading to an overall trend of lower vacancy rates that will put upward pressure on rents, as well as quantitative easing in EMEA, which will stimulate new growth. C&W Group remains focused on driving its people to perform at the highest level and enhancing market share in foundation cities around the globe.

In addition, with reference to the Company’s strategic plan, the Board of Directors of C&W Group, Inc. began, earlier this year, a process to identify a new partner that would accelerate its plans for growth. On May 11, the Company announced that it had reached a definitive agreement to merge with DTZ with the combined company becoming one of the largest global real estate services companies, and continuing to operate under the Cushman & Wakefield brand. The transaction is expected to close before the end of the year and is subject to customary closing conditions. 

Commercial Register No.64236277 Legal notes | Credits