PRELIOS: SHAREHOLDERS’ MEETING HELD
Financial Statements 2016 approved
Number of directors’ seats confirmed at 10 with appointment of Cesare Ferrero
KPMG S.p.A. formally engaged as independent auditor for the financial years 2017-2025
Favourable opinion given on remuneration policy
Milan, 31 May 2017 – The Ordinary Shareholders’ Meeting of Prelios S.p.A. met today.
The Shareholders’ Meeting has approved the financial statements 2016 which, to summarise, show consolidated revenue of Euro 76.8 million (Euro 66.4 million in 2015); EBIT at Euro 4.1 million (Euro -0.8 million in 2015); net loss of Euro -29.8 million (Euro -44.5 million in 2015). The Parent Company, has reported a net loss of Euro 11.3 million for 2016, compared with a net loss of Euro 29.6 million in 2015.
The Shareholders’ Meeting has also confirmed – after the resignation of Andrea Mangoni – that the Board of Directors will continue to have 10 seats, while confirming the appointment of Cesare Ferrero, who had already been co-opted as a new director of the Company on 13 April 2017. He will serve together with the other Directors until expiry of their terms, which is scheduled to coincide with approval of the financial statements at 31 December 2017. The newly appointed Director’s curriculum vitae can be found at www.prelios.com. Based on information available and provided by the concerned party, as of today, he does not possess any shares in Prelios.
The Shareholders’ Meeting has also engaged KPMG S.p.A. as the independent auditor in charge of auditing the Company accounts for the financial years 2017-2025, at an annual fee of Euro 312,500.
Finally, in regard to the remuneration report submitted to the Shareholders’ Meeting pursuant to Article 123-ter of the Consolidated Law on Finance, the Shareholders’ Meeting has approved the remuneration policy and the related procedures adopted by the Company.
The Prelios Annual Financial Report at 31 December 2016 – including the separate financial statements, the consolidated financial statements, the directors’ report on operations, the certification pursuant to Article 154-bis, paragraph 5, of Legislative Decree 58 of 24 February 1998, as amended, and the reports of the Board of Statutory Auditors and the independent auditor – are available to the public at the registered office of the Company in Milan, Viale Piero e Alberto Pirelli no. 27, at Borsa Italiana S.p.A., and at the authorised storage mechanism eMarket Storage (www.emarketstorage.com).
This documentation is also available at www.prelios.com.
The minutes of the Shareholders’ Meeting will be provided to the public by the legal deadline, and in any event by 30 June 2017.
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The Manager charged with preparing the Company’s financial documents, Sergio Cavallino, certifies – pursuant to Article 154-bis, paragraph 2 of the Consolidated Law on Finance (Legislative Decree 58/1998) – that the accounting disclosures contained in this press release correspond with the documents, books, and accounting records of the Company.
 In corporate terms, the consolidated financial statements give a better view of the Group as a whole, since the latter is comprised by a multitude of companies in which Prelios has an equity stake.
 The revenue for 2015 excludes the amount related to the investments component (Euro 4.5 million). Readers are reminded that Prelios completed its spin-off of the investments component to Focus Investments S.p.A. in 2016.
 The EBIT of the Company means the value composed by operating income (loss) – including general and administrative expenses (G&A Holding) and adjusted by restructuring charges – and by the result of equity investments related to the operating companies active in Alternative Asset Management and Real Estate Services.