NAV
At June 30, 2017 EXOR’s NAV is $17,211 million, an increase of $2,569 million (+17.5%) compared to $14,642 million at December 31, 2016. NAV per share amounts to US$71.41 equal to €62.58 at June 30, 2017 (US$60.75, equal to €57.63 at December 31, 2016).
The composition and change in NAV are the following:
| US$ million | 06/30/2017 | 12/31/2016 | Change | |
|---|---|---|---|---|
| Amount | % | |||
| Investments | 20,683 | 17,683 | 3,000 | +17.0% |
| Financial investments | 5 | 382 | (377) | -98.7% |
| Cash, cash equivalents and financial assets | 106 | 215 | (109) | -50.8% |
| Treasury stock | 207 | 187 | 20 | +10.9% |
| Gross Asset Value | 21,001 | 18,467 | 2,534 | +13.7% |
| Gross Debt | (3,790) | (3,825) | 35 | -0.9% |
| Net Asset Value (NAV) | 17,211 | 14,642 | 2,569 | +17.5% |
The decrease in financial investments is due to the redemption of The Black Ant Value Fund.
The conversion into Euro of the NAV presented in US dollars, at the exchange rates of the respective years is the following:
| € million | 6/30/2017 | 12/31/2016 |
|---|---|---|
| Investments | 18,124 | 16,775 |
| Financial investments | 4 | 362 |
| Cash and cash equivalents and financial asset | 93 | 205 |
| Treasury stock | 182 | 177 |
| Gross Asset Value | 18,403 | 17,519 |
| Gross Debt | (3,322) | (3,629) |
| Net Asset Value (NAV) | 15,081 | 13,890 |
| US $ million | 6/30/2017 | 12/31/2016 | Change | |
|---|---|---|---|---|
| Amount | % | |||
| Capital issued and reserves attributable to owners of the parent | 10,814 | 10,982 | (168) | -1.53% |
NAV is also presented with the aim of aiding financial analysts and investors in forming their own assessments.
The following pie chart shows the composition of Gross Asset Value at June 30, 2017 ($21,001 million).
“Other investments” include the investments in Welltec and Banca Leonardo, in addition to minor sundry investments.
Change in NAV per share compared to the MSCI World Index in U.S. dollars
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