7. Investments accounted for using the equity method

Details are as follows:

  Carrying amount at  
€ million 12/31/2014 12/31/2013 Change
FCA 4,077.6 2,634.1 1,443.5
CNH Industrial  1,615.8 1,410.2 205.6
C&W Group 572.8 480.5 92.3
Almacantar  281.8 225.1 56.7
Juventus Football Club S.p.A. 22.7 34.1 (11.4)
Arenella Immobiliare S.r.l. 26.1 25.9 0.2
Total 6,596.8 4,809.9 1,786.9

The positive change in EXOR’s share of the investment in FCA is mainly due to the increase in the equity attributable to owners of FCA following the acquisition of the remaining 41.5% ownership interest in FCA US from the VEBA Trust (€387.7 million), with the consequent reduction in the equity attributable to non-controlling interests, the increase from the placement of mandatory convertible securities (€711.2 million), the capital increase (€248.3 million), the increase in exchange differences on translating foreign operations (+€361.6 million) and the profit for the year (€162.2 million), partially offset by the reimbursement of capital and reserves (-€121.8 million), the reduction in the cash flow hedge reserve (-€56.1 million) and the defined benefit plans remeasurement reserve  (-€89.5 million).

The positive change in EXOR’s share of the investment in CNH Industrial is mainly due to the profit for the year (€189.4 million), the increase in the exchange differences on translating foreign operations (€165.9 million), partially offset by the reduction in the cash flow hedge reserve (-€31.5 million), the defined benefit plans remeasurement reserve (-€64.4 million) and dividends paid (-€77.4 million).

 

Commercial Register No.64236277 Legal notes | Credits