Exor: revenue at 4.2 billion, dividend at 100 million. Elkann: «The Stellantis leaders have the identical braveness as Marchionne» | EUROtoday

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Exor, the holding firm that controls, amongst others, Stellantis, Iveco and Juventus, closed 2023 with a consolidated revenue of 4.194 billion euros, down 33 million in comparison with 4.277 billion in 2022. The Nav (internet asset worth ) rose by 25.7% to 35.513 billion, with the Nav per share rising by 32.7%, with a efficiency superior to that of the MSCI World index by 15.1 proportion factors, a rise primarily decided by the efficiency of the share costs of Stellantis and Ferrari.

Portfolio diversification elevated following the sale of PartnerRe, with €5.4 billion of money deployed in 2023 throughout subsidiaries, investments and share buybacks, whereas sustaining a robust stability sheet with a ten% LTV ratio at year-end .

The board of administrators proposed to submit the fee of a dividend of 0.46 euros per share for approval by the overall assembly of shareholders, for a complete of roughly 100 million euros. In 2023, Exor paid a dividend of 0.44 euros per share, for a complete quantity of roughly 100 million euros.

The numbers

In 2023, the share of the results of subsidiaries and participations elevated by 1.747 billion euros and the constructive efficiency of funding funds contributed 498 million, whereas the 2022 outcomes included a internet capital acquire of two.424 billion realized from the sale of PartnerRe . As of December 31, the consolidated internet property attributable to the homeowners of the father or mother firm amounted to 23.268 billion, which represents a internet enhance of two.641 billion in comparison with the earlier 12 months. The consolidated internet monetary place of the Holdings System as of 31 December was destructive for 3.968 billion, a destructive change of 4.763 billion in comparison with the earlier 12 months, primarily as a consequence of 4.392 billion for the investments made and 996 million for the share buybacks, partially offset by 835 million in dividends obtained from investments. In 2024, Exor plans to repurchase shares for the remaining 250 million euros by the market buy of odd shares on Euronext Amsterdam.

La «Investment Entity»

The firm has reported that ranging from January 1, 2024, Exor will qualify as an “Investment Entity” pursuant to IFRS 10. It will change its reporting, deconsolidating the portfolio corporations and accounting for them at honest worth. As said in a word, «lately, Exor has advanced from a holding firm to an funding entity, following a major change within the exercise and composition of its portfolio, and modifications in its portfolio overview course of which decide the capital allocation selections based mostly on honest worth. In line with IFRS necessities, Exor will deconsolidate the portfolio corporations and worth them at honest worth, persevering with to consolidate solely the subsidiaries that present assist providers to the Investment Entity”.