Economic/financial results

The EXOR Group closes the first half of 2016 with a consolidated profit of €430.3 million; the first half of 2015 ended with a consolidated profit of €219.3 million. The increase of €211 million is primarily due to a higher share of the profit (loss) of investments (€267.4 million, of which €151.7 million relates to the first-time consolidation of PartnerRe), higher dividends received (€16.6 million, of which €16.1 million distributed by PartnerRe before acquisition of control), as well as other net positive changes (€0.8 million), partially offset by the decrease in gains on the disposal of investments (€41.6 million), the increase in net financial expenses on debt (€6.5 million) and in non-recurring net expenses (€25.7 million) principally in connection with the acquisition of PartnerRe).

At June 30, 2016 consolidated equity attributable to owners of the parent amounts to €10,086.4 million and shows a decrease of €52 million compared to year-end 2015 of €10,138.4 million. Additional details are provided in the following Note 10.

The consolidated net financial position of the Holdings System at June 30, 2016 is negative for €3,605.6 million. This is a negative change of €4,942.4 million compared to the positive €1,336.8 million at year-end 2015 and primarily the result of disbursements made in connection with the acquisition of PartnerRe (€5,415.5 million). Additional details are provided in the following Note 11.

Commercial Register No.64236277 Legal notes | Credits