Economic/financial results

EXOR closed the first half of 2019 with a consolidated profit of €2,427 million; the first half of 2018 ended with a consolidated profit of €741 million. The increase of €1,686 million is mainly attributable to the improvements of the overall performances of the subsidiaries for €1,646 million and includes EXOR’s share of the net gain realized on the disposal of Magneti Marelli for €1,092 million (total €3.8 billion). Additional details are provided in Note 1.

At 30 June 2019 the consolidated equity attributable to owners of the parent amounts to €14,387 million with a net increase of €2,177 million, compared to €12,210 million at 31 December 2018. Additional details are provided in Note 6.

The consolidated net financial position of the Holdings System at 30 June 2019 is a negative €2,521 million and reflects a positive change of €734 million compared to the negative financial position of €3,255 million at 31 December 2018, mainly due to dividends received from the subsidiaries. Additional details are provided in Note 7.

EXOR completed the process of evaluating the effects of adoption of IFRS 16 – Leases on 1 January 2019 and applied the simplified transition approach without restating comparative shortened consolidation data for the period prior to adoption.
EXOR elected to use the exemptions permitted on transition for short-term leases and lease contracts for which the underlying asset is of low value. Following adoption EXOR and the companies of the Holdings System recognized right-of-use assets and related financial lease liabilities for €3 million.

The shortened consolidated income statement and statement of financial position and notes on the most relevant line items are presented below.

Commercial Register No.64236277 Note legali | Credits