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

The share of the profit (loss) of investments accounted for using the equity method in the first quarter of 2016 is a profit of €203.5 million, an increase from the profit in the first quarter of 2015 (€45.6 million).

The positive change reflects mainly the increase in the share of the results of FCA (€97.2 million), Juventus Football Club (€3.1 million) and The Economist Group (€6.4 million), in addition to the share of the profit of PartnerRe and Ferrari, respectively of €47.1 million and €18.2 million, partially compensated by the negative change in the results of CNH Industrial and Almacantar Group, respectively of €13.6 million and €0.5 million.

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(a) The profit refers to the period March 18, to March 31, 2016.
(b) Includes consolidation adjustments.
(c) The loss of CNH Industrial includes the charge of approximately $502 million (€450 million) in relation to an investigation conducted by the European Commission. EXOR has already recognized its share of the charge, for €122.8 million, in the financial statements at December 31, 2015, since these developments occurred before the approval of its financial statements. Therefore in the first quarter of 2016, EXOR’s share of the CNH Industrial’s loss was adjusted by this amount.
(d) Company conferred to EXOR on January 3, 2016 as part of the FCA spin-off transaction.
(e) The profit refers to the period October 1, to December 31, 2015.

For comments on the performance of the principal operating subsidiaries, please refer to the following sections.

Commercial Register No.64236277 Legal notes | Credits