EXOR N.V.

EXO

Equity

ISIN NL0012059018 / Valor 34921110

Euronext - Euronext Amsterdam (2024-12-23)

EUR 88.05-0.34%

EXOR N.V.
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About company

EXOR N.V. is a diversified holding company based in Amsterdam, the Netherlands, with a rich history tracing back to the late 19th century when Giovanni Agnelli founded Fiat. Over the years, EXOR has expanded its portfolio beyond the automotive industry to include investments in a wide range of sectors such as media, healthcare, and financial services. The company has played a significant role in the global business landscape through strategic acquisitions and partnerships, including the notable merger of Fiat Chrysler Automobiles (FCA) with Groupe PSA to form Stellantis, making EXOR the single largest shareholder of one of the world's leading automakers. Additionally, EXOR has made significant investments in other industries, including a substantial shareholding in The Economist and a partnership with the Mérieux family in the healthcare sector. Despite its global reach and diverse interests, EXOR remains committed to the entrepreneurial spirit and financial discipline instilled by its founder, Giovanni Agnelli.

Summarized from source with an LLMView SourceSector: Finance

Net Asset Value Growth

EXOR N.V. reported a Net Asset Value (NAV) of €38.3 billion as of 30 June 2024, marking an increase of €2.9 billion during the first half of the year. This growth was primarily driven by the strong performance of key investments such as Ferrari, Philips, and Lingotto Funds. The NAV per share increased by 9% during this period, although it was slightly below the 14% increase of the MSCI World Index.

Cash Flow and Capital Allocation

EXOR N.V. demonstrated robust cash flow generation, receiving €1.5 billion in dividends from its portfolio companies and proceeds from asset disposals. The company strategically deployed €1.1 billion into new investments, existing companies, and share buybacks, maintaining a disciplined approach to capital allocation.

Debt Reduction

EXOR N.V. successfully reduced its net debt from €4.0 billion at the beginning of the year to €3.7 billion by 30 June 2024. This reduction resulted in a Loan-to-Value (LTV) ratio of 9%, reflecting the company's ongoing efforts to manage its financial leverage effectively.

Investment Entity Reporting

Starting from 1 January 2024, EXOR N.V. applied the Investment Entity reporting under IFRS 10. This change in reporting standards contributed to a one-off gain of €54.60 per share (basic) and €53.68 per share (diluted) for the six months ended 30 June 2024.

Dividend Activity

During the first half of 2024, EXOR N.V. received €1,108 million in dividends from its investments. The company paid out €99 million in dividends, maintaining a dividend per share of €0.44, consistent with the previous year.

Summarized from source with an LLMView Source

Key figures

-3.09%1Y

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Performance

17.1%1Y

20.3%3Y

20.3%5Y

Volatility