Exor closed 2017 with a Net income equal to 1,392 billion euros, up from 588,6 million in 2016.
Record growth for Nav (Net Asset Value) of the company chaired by John Elkann, up 56,9% to 22,972 billion dollars from 14,642 billion the previous year. The Nav for action it rose to $95,32 from $60,75 at the end of 2016.
The board of Exor will propose to the shareholders a dividend of 0,35 euro per share, unchanged compared to the previous year.
THEconsolidated equity attributable to shareholders decreased by 177 million euros to 10,804 billion euros, "mainly due to the exchange rate effect and due to the payment of dividends, partially offset by the net profit and the favorable exchange rate of other reserves", explains the company in a note.
La net financial position of the Holding system is negative by 3,136 billion euros, an improvement of 260,6 million euros compared to the end of 2016.
Exor also informs that the board of directors of the holding has appointed as new independent director Joseph Bae, co-president and co-chief operating officer of Kkr, a company he joined in 1996 and of which he has been a director since 16 July 2017. His appointment will become effective with the shareholders' meeting called for 29 May. On that date will also take effect resignation of directors Niccolò Camerana, Lupo Rattazzi, Robert Speyer, Mike Volpi and Ruth Wertheimer.
Lastly, the note specifies that the board of directors will retain a majority of independent directors.
