(Finance) – Exor announced today the results of the first half of the year which closes with a net profit of 2.157 billion euros, compared to 265 million in the same period of the previous year. The NAV is equal to 34.2 billion euros as of 30 June 2023, growing compared to the 28.2 billion at the end of 2022, while the NAV per share increased by 22.8%, outperforming the MSCI World index by 11.3 points, driven mainly by the performance of listed companies.
As of June 30, 2023, the consolidated net worth attributable to the shareholders of the parent company amounts to 22.197 billionup from 20.627 billion as of December 31, 2022. Net debt at 30 June 2023 it was equal to 0.1 billion euros and was compared with a net liquid position of 0.8 billion euros as of 31 December 2022, mainly affected by the dividends distributed, the investments made and the share buyback plan and partially offset by the dividends received.
The Board of Directors approved a new one today buyback program up to 1 billion of euros: 2050 million will be used to purchase shares on the market within the next 12 months; up to 750 million will be used to purchase shares via public tender offer, to be launched by 14 September 2023, with a maximum premium of 10% compared to the share price. In this regard, Giovanni Agnelli BV, which controls 53.6% of Exor, has undertaken to join the operation for a maximum amount of 250 million.