Interim Report 3M - 2016

The EXOR Group closes the first quarter of 2016 with a consolidated profit of €201.1 million; the first three months of 2015 ended with a consolidated profit of €40.6 million. The positive change of €160.5 million is largely due to the increase in the share of the profit (loss) of investments (€157.9 million, of which €47.1 million relates to the first-time consolidation of PartnerRe), dividends received from PartnerRe before the acquisition (€16.1 million), gains on the disposal of investments (€25 million), partially compensated by the increase of net financial expenses on debt (€14.7 million) and non-recurring expenses in connection with the acquisition of PartnerRe (€33.5 million).

At March 31, 2016 consolidated net equity attributable to owners of the parent amounts to €9,744.6 million and shows a decrease of €393.8 million compared to year-end 2015 of €10,138.4 million.

The consolidated net financial position of the Holdings System at March 31, 2016 is negative for €4,218.2 million. This is a negative change of €5,555 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).

NAV
US$ millions  3/31/2016 (*)  12/31/2015 (*)  Change 
      Amount 
Investments  16,384 11,037 5,347 +48.4% 
Financial investments  613 631 (18) -2.9% 
Cash and cash Equivalents  173 4,393 (4,220) -96.1% 
Treasury stock  195 231 (36) -15.6% 
Gross Asset Value  17,365 16,292 1,073 +6.6% 
Gross Debt  (4,976) (2,937) (2,039) +69.4% 
Net Asset Value (NAV)  12,389 13,355 (966) -7.2% 
(*) Net of treasury stock that will not service the incentive plans in effect or that will be submitted to the Mary 25, 2016 shareholders’ meeting for approval.
Commercial Register No.64236277 Legal notes | Credits