Exor closes the first nine months of the year with a consolidated profit of 484,7 million: spectacular growth, considering that in the same period of 2010 there were 56 million recorded.
The financial holding company of the Agnelli group, which owns the investment in Fiat, explains in a note that "the positive change derives from the improvement in the results of the subsidiaries (433,6 million), from the higher dividends from equity investments (17,3 million) and other net changes (€15,6 million), partially offset by the decrease in net financial income (€37,8 million)”.
Narrowing the gaze on the third quarter, the profit amounts to 7,5 million, against the 30,9 million recorded in the same period last year. The result is due to the lower results achieved by the subsidiaries in the period (-26,5 million).
Bad news also on the front of the consolidated net financial position of the Holdings System, which is negative by 262,1 million, down by 304,7 million compared to the positive balance of 42,6 million at the end of 2010.
