Exor's Net Asset Value Rises On Ferrari, Stellantis Share Performance
By Helena Smolak
Exor's net asset value grew last year, boosted by its stakes in carmakers Ferrari and Stellantis.
The Dutch investment firm said Thursday that net asset value at the end of the year was 35.51 billion euros ($38.15 billion), up from EUR28.23 billion a year earlier. The company said shares in both Ferrari and Stellantis performed strongly in 2023.
Net profit was EUR4.19 billion compared with EUR4.23 billion due to lower gains from investments in subsidiaries than a year earlier.
The company's board proposed a dividend of EUR0.46 a share, up from EUR0.44 a share the year before.
Exor said it would begin to buy back shares with the EUR250 million remaining from a previously announced buyback.
As of Jan. 1, Exor changed its reporting and accounting standards, classifying it as an investment entity.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
April 11, 2024 02:57 ET (06:57 GMT)
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