3Q 2013 INCOME STATEMENT HAS BEEN RECLASSIFIED WITH THE PURPOSE TO REPORT DATA ON A LIKE FOR LIKE BASIS, INCLUDING THE EFFECTS OF THE DGAG TRANSACTION, ALSO INCLUDING THE DISPOSAL OF THE REAL ESTATE ASSET PORTFOLIO AND THE RELATED RESIDENTIAL MANAGEMENT PLATFORM
REVENUES FROM SERVICES GROW IN LINE WITH TARGET
GROUP EBIT IMPROVED AGAINST BUSINESS PLAN TARGET, UP 31% VS. THE SAME PERIOD OF LAST YEAR, DRIVEN BY MANAGEMENT PLATFORM GROWTH
ROS OF MANAGEMENT PLATFORM AT 17%, IMPROVING COMPARED TO THE SAME PERIOD OF THE PREVIOUS YEAR
CONFIRMED FOCUS ON COST CONTROL
• MANAGEMENT PLATFORM REVENUES AT 50.5 €/MLN (48.8 €/MLN AT 30 SEPTEMBER 2013)
• EBIT OF MANAGEMENT PLATFORM POSITIVE FOR 8.7 €/MLN (5 €/MLN AT 30 SEPTEMBER 2013)
• GROUP EBIT EQUAL TO -6.2 €/MLN VS. -9 €/MLN RECORDED IN THE SAME PERIOD OF 2013
• EBIT OF INVESTMENT ACTIVITIES NEGATIVE FOR 6.3 €/MLN (-5.5 €/MLN AT SEPTEMBER 2013)
• GROUP NET RESULT AT -48.4 €/MLN (-44.2 €/MLN AT SEPTEMBER 2013 )
• NET FINANCIAL POSITION NEGATIVE FOR 197.2 €/MLN (-199.1 €/MLN AT 31 AUGUST 2014)
• PROPERTIES DISPOSED FOR 375.7 €/MLN, FOR A VALUE ON A PRO RATA BASIS FOR PRELIOS EQUAL TO 90.1 €/MLN, AND AT VALUES IN LINE WITH BOOK VALUE (303.6 €/MLN AT 30 SEPTEMBER 2013, THE PRO-RATA VALUE OF WHICH WAS EQUAL TO 46.5 €/MLN)
BUSINESS DEVELOPMENT ACTIVIES ARE PROGRESSING
• FORTRESS GROUP AND PRELIOS - AS OPERATING PARTNER, AND THEREFORE WITHOUT ANY OWN EQUITY COMMITMENT - ENTERED INTO AN AGREEMENT BASED ON AN EXCLUSIVITY PERIOD WITH UNICREDIT FINALIZED TO THE NEGOTIATION OF THE DISPOSAL OF UCCMB NON PERFORMING LOANS AND OF A SIGNIFICANT PORTFOLIO OF NPL. IF THE PROCEDURE IS SUCCESSFULLY COMPLETED, PRELIOS COULD RECORD A SIGNIFICANT GROWTH IN SERVICE ACTIVITIES
HOWEVER, CONSIDERING THE COLLABORATION RECENTLY STARTED, THE COMPANIES DEEMED APPROPRIATE NOT TO CONTINUE THE SPECIFIC VALUATIONS AND NEGOTIATIONS ON POSSIBLE INTEGRATIONS BETWEEN THEIR RESPECTIVE OPERATING COMPANIES
• A STRATEGIC AGREEMENT HAS BEEN ENTERED INTO WITH iCORE GLOBAL TO PROVIDE REAL ESTATE SERVICES TO CORPORATE CLIENTS WORLDWIDE
• ESTABLISHMENT OF PRELIOS EUROPE, A FUND RAISING PLATFORM TO ATTRACT INTERNATIONAL CAPITALS
Milan, 5 November 2014 – The Board of Directors of Prelios S.p.A., held on today’s date, examined and approved the consolidated results at 30 September 2014 (unaudited).