Drums Investment Partners closed the first quarter of the year with a consolidated pre-tax profit of over 17 million euros, against the 2,7 million recorded in the same period last year. The result benefited by around 20 million euro from the capital gain on the sale of Prysmian shares by the associate Clubtre SpA in January.
I revenues from advisory activities in the period they amounted to 1,5 million euro, compared to approximately 1,2 million euro in the first quarter of 2016, while operating costs in the period had a trend in line with that of the first quarter of 2016, with the exception of the increase of the charges for executive directors which, being correlated to the company's performance, increased compared to the corresponding quarter of the previous year essentially as a function of the economic results achieved.
Il consolidated shareholders' equity exceeded 499 million euros, from 437 million euros as of December 31, 2016. As of March 31, 2017, the consolidated net financial position of the TIP Group – taking into account the 2014-2020 TIP bond issue – was negative by approximately 172,7 million euros, down from 199,2 .31 million as of December 2016, XNUMX.
THEinvestment activity of Tip continued in the first quarter of 2017 with the aforementioned subscription of the capital increase of Digital Magics and with the agreement signed in March 2017 by Asset Italia 1 (vehicle set up ad hoc by Asset Italia for the operation) with the shareholders of Alpitour for the subscription of a capital increase of approximately 120 million euro aimed at guaranteeing the financial resources necessary to accelerate Alpitour's growth path, also through further acquisition, consolidation and partnership operations, in Italy and abroad. Asset Italia 1 will hold 32,67% of Alpitour and TIP approximately 30,91% of shares related to Asset Italia 1, with an outlay of over 37 million euro.
Il share price Tip grew by 44% from 31 December 2016 to 5 May 2017 and the price of the 2015-2020 TIP Warrant grew by 142%, compared to +12% of the Ftse Mib and +29% of the IT Star in the same period .
