Refinancing agreement in process of being finalized
Operating performance of services consolidates
Negative net result affected by drastic deterioration in macroeconomic climate, with approx. €136 million in equity investment and real estate investment writedowns (of which €93 million for baubecon)
Management platform revenues at €113.6 million (€120.3 million at september 30th, 2010)
Profit1 of €37.9 million inclusive of rinascente/coin sale (€24.9 million at september 30th, 2010)
Management platform ebit2 at €15.4 million, +9% on €14.1 million at september 2010, in line with goal of focusing on services
Real estate sales at €1.5 billion (€0.9 billion at september 30th, 2010): fy2011 target already reached
Negative consolidated net result of €152.9 million (-€29.6 million at september 30th, 2010), caused by equity investment and real estate investment writedowns (€136.1 million) and restructuring costs (€21.1 million)
Net financial position, excluding shareholder loans granted, at -€474.2 million, stable on previous quarter (-€474.1 million), gearing3 at 1.02
At today's meeting, the Board of Directors of Prelios S.p.A.examined and approved the Interim Management Statement at September 30th, 2011.
Since August the macroeconomic scenario has experienced a sudden, drasticdeterioration, specifically in connection with sovereign debt tensions, involvingsignificant increases in spreads, and downward revisions in growth forecasts by themajor European economies.
Operating performance of services consolidates
Negative net result affected by drastic deterioration in macroeconomic climate, with approx. €136 million in equity investment and real estate investment writedowns (of which €93 million for baubecon)
Management platform revenues at €113.6 million (€120.3 million at september 30th, 2010)
Profit1 of €37.9 million inclusive of rinascente/coin sale (€24.9 million at september 30th, 2010)
Management platform ebit2 at €15.4 million, +9% on €14.1 million at september 2010, in line with goal of focusing on services
Real estate sales at €1.5 billion (€0.9 billion at september 30th, 2010): fy2011 target already reached
Negative consolidated net result of €152.9 million (-€29.6 million at september 30th, 2010), caused by equity investment and real estate investment writedowns (€136.1 million) and restructuring costs (€21.1 million)
Net financial position, excluding shareholder loans granted, at -€474.2 million, stable on previous quarter (-€474.1 million), gearing3 at 1.02
At today's meeting, the Board of Directors of Prelios S.p.A.examined and approved the Interim Management Statement at September 30th, 2011.
Since August the macroeconomic scenario has experienced a sudden, drasticdeterioration, specifically in connection with sovereign debt tensions, involvingsignificant increases in spreads, and downward revisions in growth forecasts by themajor European economies.