Board reviews 2019 half-year results

Wed, 07/31/2019 - 13:39

Italmobiliare Net Asset Value at June 30, 2019 increased by 166.4 million euro from the end of 2018 to 1,587.8 million euro. NAV per share rose from 33.9 euro to 37.9 euro.
The value of the seven ‘Portfolio companies’ (which since January 2019 includes Autogas Nord acquired for approximately 60 million euro) increased by over 106 million euro to 586.4 million euro, mainly driven by the good performance of Caffè Borbone and Tecnica Group.
Among the other equity investments (totaling 120.5 million euro), a value increase was mainly due to Jaggaer, which will be sold during the current quarter for approximately 100 million dollars, on an investment of 35 million euro at the end of 2017 as part of the sale of BravoSolution.
Cash and cash equivalents rose by approximately 80 million euro to 424.1 million euro. The value of the equity investments in private equity funds was stable at 130 million euro.
Italmobiliare posted a profit for the first six months to June 30, 2019 of 9.2 million euro (25.1 million euro at June 30, 2018, including a non-recurring positive income tax effect of 14.4 million euro).
The Board of Directors commemorated with gratitude Giampiero Pesenti, who passed away on July 24, for over 50 years of service at the helm of Italmobiliare.