First half 2022 results reviewed by board of directors

Milan, July 28, 2022 - Italmobiliare's Board of Directors has reviewed and approved the interim report at June 30, 2022. At the end of the half year, Italmobiliare's NAV amounts to 1,975.1 million euro (2,082.1 million euro at December 31, 2021), with the variance related in particular to the distribution of dividends for 59.2 million euro; the payment of taxes of 21 million euro and overheads of 11.4 million euro; the negative performance of listed investments (HeidelbergCement AG -8.9 million euro), trading -12.4 million euro and other equity investments - 9.5 million euro; a positive performance by the Private Equity Funds for 13.6 million euro (including a positive exchange rate delta of 9.6 million euro). On a like-for-like basis compared with the previous year, the value of the Portfolio Companies net of dividend distributions and new investments in the first half (in particular the acquisition of Bene Assicurazioni for 41 million euro) is stable.

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