Board of Directors examines 2017 financial statements

• NAV (Net Asset Value) 1,545.2 million euro, up by more than 45 million euro from the 2016 year-end pro-forma figure (net of expenditure of 100 million euro for the voluntary public tender offer on own shares completed in mid-2017)
• NAV discount improves from 36.7% to 34.6%
• During the year acquisition of a 40% share in the Tecnica group and agreement with Jaggaer regarding the investment in BravoSolution
• Profit for the year 102.1 million euro (759.8 million euro in 2016 which included a net gain of 754.5 million euro from the sale of the equity investment in Italcementi)
• Positive net financial position of 572.2 million euro in the financial segment (581.4 million euro at the end of 2016)
• Proposed distribution of a per-share dividend of 0.55euro (0.5 euro for 2016), for a total dividend of 23.1 million euro (22.9 million euro for 2016)

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The Italmobiliare Board of Directors has approved the 2017 financial statements reflecting a profit for the year of 102.1 million euro, and will ask the AGM to approve a per-share dividend of 0.55 euro (0.5 euro post-split for 2016), for a total dividend of 23.1 million euro (22.9 million euro for 2016).

“2017 saw a series of initiatives enhancing the company’s ability to create value,” said CEO Carlo Pesenti. “Through the diversification of its equity investment portfolio, Italmobiliare’s growing focus is on acting as a long-term strategic partner for businesses with significant growth potential. The investment in Tecnica Group, the agreement with Jaggaer (the world leader in eProcurement) regarding BravoSolution, together with the expansion of operations in the Private Equity segment, have increased the company's NAV; in the meantime, Italmobiliare can still count on a significant cash reserve to be assigned to new investments already under consideration. I believe the results we have achieved will meet the full satisfaction of all our shareholders, who this year, with the proposed dividend and the growth of the Italmobiliare share price, benefit from a total shareholder return of more than 11%.”