Business outlook

EXOR S.p.A. expects to report a profit for 2013.

At the consolidated level, 2013 is expected to show a profit, taking into account also the capital gain realized on the sale of the investment in SGS. The most recent forecasts reported by the main subsidiaries and associates are presented below.

CNH Industrial Group

On the back of the Group’s performance to date and our expectations of recovering trading conditions across all segments and a continuation of strength in the agricultural equipment market, CNH Industrial is confirming its 2013 guidance as follows:

  • revenues up between 3% and 4%;
  • trading margin between 7.5% and 8.3%;
  • net industrial debt between €1.4 and €1.6 billion.

Fiat Group

Based on the results for the nine months to September 2013, together with the expected operating performance and currency trends for the last quarter of the year, the Fiat Group has updated 2013 guidance as follows:

  • ­revenues of about €88 billion (from the €88 - €92 billion range, or €84 - €88 billion range at current exchange rates);
  • trading profit in the €3.5 - €3.8 billion range (from the €4 - €4.5 billion range, or €3.7 - €4.2 billion range at current exchange rates);
  • net profit in the €0.9 - €1.2 billion range (from the €1.2 - €1.5 billion range or €1 - €1.3 billion range at current exchange rates);
  • net industrial debt in the €7 - €7.5 billion range (from approximately €7 billion, which did not include the approximate €0.2 billion negative impact from the third quarter equity investments net of exchange rates).

C&W Group

As global economic conditions moved to a more positive sentiment and signs of a sustainable economic recovery started to materialize through 2013, business momentum picked up across our global platform, translating into increased activity as compared to the same period last year.  Strong pipelines of transaction and assignment activity are a reflection of a more confident business environment, as well as the focus and drive of our professionals. Subject to the continuation of these positive trends C&W Group expects to complete the year with continued growth and improved results.


During the final quarter of 2013 Almacantar will focus on activities to redevelop Centre Point, submit a planning application for Marble Arch Tower and maximize income generation in the period before the start of redevelopment.

It is Almacantar’s intention to further expand the portfolio and is reviewing a range of investment opportunities.

The London real estate market should remain stable due to the strong demand for rental space and activity by institutional investors.

As anticipated, Almacantar reported a profit for the nine months to September 2013. Positive results are expected to continue in 2013 due to the rental revenues generated by properties currently owned, and a new investment at 125 Shaftesbury Avenue.

Juventus Football Club

During the first phase of the Transfer Campaign 2013/2014 the Company made significant investments to further strengthen the First Team bench and increase its competitiveness also at European level. As a result, the year 2013/2014, still currently expected to be a loss, will be influenced by increases in costs relating to sports management and the impact that the sports results, that will be effectively achieved, will have on future revenues. 

The Company’s objective is to continue the improvement in economic performance achieved during the previous two financial years.

Commercial Register No.64236277 Note legali | Credits