Exor delivers 33% growth in NAV Per Share in 2023

  • NAV reached €35.5 billion at 31 December 2023 with NAV per share increasing by 32.7%, outperforming the MSCI World Index by 15.1 p.p. This increase was mainly driven by the share price performance of Ferrari and Stellantis.
  • Portfolio diversification increased after the PartnerRe sale, with €5.4 billion cash deployed in 2023 into Companies, Investments and share buybacks, while maintaining a strong balance sheet with an LTV ratio of 10% at year-end.
  • Exor has determined that it is an Investment Entity under IFRS 10 as of 1 January 2024, driven by its evolution as a company. From this date, it will change its reporting accordingly by consolidating portfolio companies and accounting for them at fair value.
  • Ordinary dividend to be distributed of approximately €100 million, corresponding to €0.46 per share, subject to AGM approval. Share buyback program to restart for the remaining €250 million.
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