Il Exor group it closed 2014 with a consolidated profit that decreased to 323,1 million (2.084,5 million in the previous year), but the dividend rose to 0,35 euro per share. The negative change in profit, amounting to 1.761,4 million, mainly derives – according to what the Agnelli family finance company explains in a press release – from the lower capital gains realized during the year for 1.565,1 million, from the decrease in the share in the result of investees for 128,9 million, from lower dividends collected for 56,8 million, and from the increase in net financial expenses for 11,8 million.
In particular, in 2013, Exor had realized a net capital gain of 1.534 million following the sale of the entire investment in Sgs, from which it had also collected dividends of 55,7 million. However, the board of directors proposed to the ordinary shareholders' meeting the distribution of a dividend of €0,35, up compared to 0,335 euro in 2014. At a consolidated level, 2015 should show "positive economic results which, moreover, will largely depend on the performance of the main investee companies", underlines the company.
Returning to the accounts as at 31 December 2014, the consolidated equity it amounts to 7.995 million and shows a net increase of 1.047,6 million compared to the figure at the end of 2013, equal to 6.947,4 million. As at 31 December 2014, the Net Asset Value was equal to 10.164 million, an increase of 1.312 million (+14,8%) compared to the figure of 8.852 million as at 31 December 2013.
At December 31, 2014 the balance of the net financial position consolidated balance of the Holdings System is positive for 563 million and shows a negative change of 718,2 million compared to the positive balance of 1.281,2 million recorded at the end of 2013, mainly determined by the subscription of the bond loan with mandatory conversion issued by FCA (711,2 millions).
Exor's board of directors, "as part of the strategy already undertaken to extend its debt, and in order to acquire new financial resources to pursue its activities", also approved the possibility of issuing by 31 March 2016 one or more bonds, for a total amount not exceeding 3 billion, or the equivalent in another currency, to be placed with institutional investors in public form, or directly in the form of private placements.
Upon approval of the accounts, the Exor title in mid-afternoon it remained at parity in Piazza Affari, where it gained 0,16% a €43,28 per share.
