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 2016 is a profit of €885.7 million, with an increase compared to the prior year of €204.7 million. The positive change of €681 million reflects the increase in the share of the profit of FCA, CNH Industrial and Juventus of €418.3 million, €95.6 million and €4.2 million respectively and the share of the result arising from the first time consolidations of PartnerRe, Ferrari, and The Economist Group of €167.7 million, €93.8 million and €32.6 million, respectively.

 Profit (Loss)
(million) 
EXOR's share
(€ million) 
    2016     2015 Change 2016   2015 Change
PartnerRe (a)$186.0  n.a.n.a.167.7 -167.7
FCA (a) 1,803.0   334.0 1,469.0 531.1   112.8 418.3
CNH Industrial (b) (c) $ (373.0)   $ 9236.0 (609.0) 31.5   (64.1) 95.6
Ferrrari (d) 399.0  n.a.n.a.93.8 -93.8
The Economist Group (e) £ 145.0   £ n.a. n.a. 32.6   - 32.6
Juventus Football Club (f) 46.0   39.3 6.7 29.2   25.0 4.2
Arenella Immobiliare -   0.1 (0.1) -   0.1 (0.1)
Almacantar Group (g)£(0.6)  248.1(248.7)(0.2) 130.9(131.1)
Total             885.7   204.7 681.0
(a) The profit refers to the period March 18, to December 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 had 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 2016, EXOR’s share of CNH Industrial’s loss was adjusted by eliminating such charge recognized by the subsidiary. CNH Industrial’s loss in the 2016 includes a further charge of $49 million as a result of closing the settlement with the European Commission (EXOR’s share is approximately €12 million). (d) Company attributed to EXOR on January 3, 2016 as part of the FCA spin-off transaction. (e) The profit refers to the period October 1, 2015 to September 30, 2016, including consolidation adjustments. (f) The profit relates to the accounting data prepared for the Company’s consolidation in EXOR and refers to the period January 1 - December 31, 2016. (g) The loss refers to the period January 1, 2016 to March 31, 2016, before the sale to PartnerRe.

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

 

Commercial Register No.64236277 Note legali | Credits