- Net Asset Value per share, excluding treasury shares in portfolio, was 33.70 euro at September 30, 2018 (36.84 euro at the end of 2017), reflecting the downturn on the stock markets.
- In part thanks to the investments in the portfolio companies (which accounted for 28% of NAV compared with 15% at the end of 2017) and the positive performance of the core businesses of all the investees, consolidated Gross Operating Profit rose from 19.8 to 31.8 million euro.
- The Group had a positive net financial position of 253.6 million euro (494.8 million euro at the end of 2017), after capital expenditure for the period.
The Board of Directors of Italmobiliare S.p.A. today approved the additional quarterly financial disclosure as at and for the nine months to September 30, 2018.
At September 30, 2018, Italmobiliare Net Asset Value, excluding treasury shares in portfolio representing approximately 12% of the company's capital, amounted to 1,413.6 million euro. The decrease of 131.6 million euro from the end of 2017 reflects the impact on the listed shares in portfolio of the negative trend on the stock markets. NAV per share was 33.7 euro (36.84 euro).
The Group’s net financial position, after capital expenditure for the period, remained positive at 253.6 million euro (494.8 million euro at the end of 2017).
The consolidated results for the first nine months show revenue of 331.5 million euro (up 34.7 million euro from the year-earlier period) arising not only from the inclusion of the Caffè Borbone Group in the scope of consolidation, but also from the business improvement at the Sirap Group. The positive performance of the core businesses of all the portfolio companies – of Caffè Borbone in particular – contributed to the improvement in Gross Operating Profit, which rose from 19.8 million euro to 31.8 million euro.