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De Benedetti on the Stock Exchange: Cir suffers on Sorgenia debt, Sogefi collapses (earnings down and no dividend)

Disappointing results for Sogefi, a subsidiary of De Benedetti's Cir group, which this morning at the opening of the Stock Exchange already lost more than 5% to 3,98 euros – The Cir stock on the Sorgenia case was also muted.

De Benedetti on the Stock Exchange: Cir suffers on Sorgenia debt, Sogefi collapses (earnings down and no dividend)

The Cir stock opens quietly in Piazza Affari, where at 9,14 it loses almost 0,2% to 1,127 euro. The issue of Sorgenia's debt restructuring always takes center stage: various hypotheses are being studied with the banks, including the transformation of 500 million euros of debt into equity.

But above all in the late afternoon yesterday the disappointing results of Sogefi, a subsidiary of the De Benedetti group, were disclosed, which in fact this morning at the opening of MY BAG already loses more than 5% a 3,98 €. Profits amounted to €21,1 million, down on 2012 (€28,2 million) and below the consensus set at €25 million. Consolidated revenues instead amounted to 1.335 million, slightly up on the 1.319,2 million of 2012 and slightly above consensus (1.334 million euro). The Board has not foreseen dividends for this year.

Read all the results of Sogefi

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