1. Share of the profit (loss) of investments accounted for using the equity method

In the first quarter of 2014 the share of the profit (loss) of investments accounted for using the equity method is a loss €39.9 million (profit of €6.1 million in the first quarter of 2013). The negative change of €46 million reflects mainly the reduction in the result of the Fiat Group which reported a loss of €189 million, higher by €106 million compared to the loss in the first quarter of 2013 (-€83 million) and the reduction in the profit of the CNH Industrial Group which totals $145 million (€106 million), down $37 million (€32 million) from the first quarter of 2013 ($182 million, or €138 million).

    Profit (loss) (million)
  Exor's share (€ million)
    QI   QI
    2014     2013   2014   2013   Change
Fiat Group  (a) (189.0) (b) (83.0)   (61.0)   (25.3)   (80.8)
CNH Industrial (a) $ 145.0   $ 182.0   
29.6   42.5   (12.9)
C&W Group $ (12.5)   $ (22.4)   (7.5)   (13.4)   5.9
Almacantar Group £ 0.4   £ 1.6   0.2   0.7   (0.5)
Juventus Football Club S,p,A, (1.9)
2.6  (1.2)   1.6   (2.8)
Arenella Immobiliare S,r,l, n,s,   n,s,   -   -   -
Total             (39.9)   6.1   (46.0)
(a) Includes consolidation adjustments. (b) The profit for the preceding period was restated following the adoption of the U.S. dollar as the reporting currency for financial reporting purposes.

For comments on the Review of Performance of the Operating Subsidiaries and Associates, please refer to the next sections. It should be noted that the interim results of C&W Group and Juventus Football Club are affected by highly seasonal factors that are typical of their respective business.

Commercial Register No.64236277 Legal notes | Credits