Annual Report 2019

In this letter I will share with you the details of what we have been doing, across the extended Exor family, during this time to confront the unprecedented Covid-19 pandemic and its serious health, social and economic implications.

I believe it is important to take the time to remember what we have done and learned throughout the first decade of Exor, because our ability to face these challenges is rooted in what we have achieved, and has shaped who we are today.

I will then summarise the most relevant events of 2019 before turning to 2020.

NAV
US$ million12/31/201912/31/2018Change
Amount %
Investments 28,923 23,276 5,647 +24.3%
Other investments(b) 655 591 64 +10.8%
Treasury stock(c) 188 191 -3 -1.6%
Gross Asset Value 29,997 23,773 6,224 +26.2%
Gross Debt -3,842 -4,033 191 -4.7%
Net Asset Value (NAV) 26,155 19,74 6,415 +32.5%
Commercial Register No.64236277 Note legali | Credits