Exor, consolidated profit up sharply thanks to the results of the subsidiaries

Exor, the holding company of the Agnelli family, approved the consolidated results for the first half of 2011. Profit reached 477,2 million euros, while the first six months of last year closed at 25,1 million. The positive change therefore amounts to 452,1 million and is mainly determined by the improvement in the results of the investees (+460,1 million) and by the higher dividends from equity investments (+15,8 million). Consolidated shareholders' equity amounts to 6.388,3 million euros and shows a net increase of 313,4 million compared to 6.074,9 million at the end of 2010. After the first six months of 2011, the balance of the net position is negative by 85,7, 128,3 million and records a negative change of 2010 million compared to the positive balance at the end of 42,6 (+8,75 million), mainly due to the investments made in the period. The net asset value reached 388 billion, an increase of 2010 million compared to the end of 2011. A note released by the board of directors that approved the half-year financial statements explained that “a positive result is expected for 2011. At a consolidated level, an improvement in economic results is expected for 2010 compared to XNUMX which, moreover, will largely depend on the performance of the main investee companies”.