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

In 2014 the share of the profit (loss) of investments accounted for using the equity method is a profit of €425.2 million, with a decrease of €128.9 million compared to the profit reported in the year 2013 (€554.1 million). The decrease is principally attributable to the reduction in the share of the profit of FCA
(-€109.9 million) and CNH Industrial (-€48.9 million), partially offset by the increase in the share of the profit of C&W Group (€25.1 million) and the reduction in share of the loss of Juventus (+€2.7 million). 

    Profit (loss)  (million) EXOR's share (€ million)  
    2014     2013   Change 2014   2013   Change  
FCA  (a) 568   904 (b) (336) 164.8 (c) 274.7   (109.9)  
CNH Industrial (a) $ 917   $ 1,048.00 (d) (131) 189.4   238.3 (e) (48.9)  
C&W Group $ 68.7   $ 28.7   40.0 42.9   17.8   25.1  
Almacantar £ 83.1   £ 83.3   (0.2) 39.5   37.5   2 (f)
Juventus Football Club S.p.A. (18.2) (g) -22.4 (g) 4.2 (11.6)   (14.3)   2.7  
Arenella Immobiliare S.r.l. 0.2   0.1   - 0.2   0.1   0.1  
Total               425.2   554.1   (128.9)  
(a) Includes consolidation adjustments. (b) FCA’s profit (€1,951 million including the profit of non-controlling interests) comprises €1,500 million from the recognition of net deferred tax assets relating to FCA US since the conditions resulting in their non-recognition are no longer present. (c) The percentage of the profit of FCA considers that the merger between Fiat and Fiat Investment was completed on October 12, 2014; therefore it includes a percentage equal to 30.78% of FCA’s profit for the nine months to September 30, 2014 for €41.9 million and a percentage equal to 29.25% of the profit for the fourth quarter for €122.9 million. (d) Amounts recast in order to reflect the change in presentation currency from euro to U.S. dollar. (e) The percentage of profit of CNH Industrial considers that the merger between Fiat Industrial and CNH Global was completed on September 29, 2013; therefore it includes a percentage equal to 30.88% of CNH Industrial Group’s profit for the nine months to September 30, 2013 for €190.1 million and a percentage equal to 27.96% of the profit for the fourth quarter of 2013 for €48.2 million. (f) With the profit basically the same for both years, the increase in EXOR’s share is due to the exchange rate effect. (g) The loss results from the accounting data prepared for the company’s consolidation by EXOR and refers to the period January 1 to December 31, 2014.

For comments on the Review of Performance of the Operating Subsidiaries and Associates, please refer to the next sections.

 

Commercial Register No.64236277 Note legali | Credits