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

In the first half of 2014 the share of the profit (loss) of investments accounted for using the equity method is a profit of €100.9 million, down from €115.6 million in the first half of 2013. The negative change of €14.7 million reflects mainly the reduction in the profit of the CNH Industrial Group (-€16.2 million, due in part to the reduction in the stake held from 30.88% to 27.88% compared to the first half of 2013), the Fiat Group
(-€24.9 million) and the Almacantar Group (-€0.6 million), offset by the increase in the share of the result of C&W Group (€15.9 million) and the reduction of the loss of Juventus Football Club (€11.1 million).

    Profit (loss)
EXOR's share
(€ million)
    Half I
Half I
    2014     2013   Change 2014  2013  Change
CNH Industrial Group (a) $ 543.8   $ 537.8 (b) 6.0 110.3   126.5  (16.2)
Fiat Group (a) (14.3)   59.3   (73.6) (9.9)  15.0  (24.9)
C&W Group $ 11.9   $ (14.6)   26.5 7.1  (8.8)  15.9
Almacantar Group £ 1.1   £ 2.6   (1.5) 0.5  1.1  (0.6)
Juventus Football Club S.p.A. (11.1) (c) (28.6) (c) 17.5 (7.1)  (18.2)  11.1
Arenella Immobiliare S.r.l. n,s,   n,s,   - -  -  -
Total               100.9  115.6  (14.7)
(a) Includes consolidation adjustments. (b) Restated following the adoption of the U.S. dollar as the reporting currency for financial reporting purposes (c) The loss relating to the accounting data prepared for consolidation in EXOR refers to the period January 1 to June 30.

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 businesses. The accounting data of Arenella Immobiliare at and for the six months ended June 30, 2014 are not significant and are not commented on specifically.


Commercial Register No.64236277 Legal notes | Credits