Compagnie Industriali Riunite S.p.A.

Equities

CIR

IT0000080447

Delayed Borsa Italiana Other stock markets			5-day change	1st Jan Change
- ^EUR	-.--%		-47.70%	-45.68%

06/05	CIR has purchased more than 235,000 of its own ordinary shares	AN
30/04	CIR, shareholders' meeting authorizes buyback of up to 208 million shares	AN

CIR Compagnie Industriali Riunite : Board of Directors Meeting - 2018 Nine Months Results

October 29, 2018 at 05:47 pm IST

Group structure as of 30 September 2018

56.8%

59.5%

45.8%

Businesses

Global automotive supplier of suspensions, filtration, air intake & cooling componentsHealthcare group specialized in long term care (nursing homes/rehab), diagnostics and cancer care

Italian media group, with presence in dailies, periodicals, radio, internet and advertising

Competitive position

Leadership positions in core geographies (Europe and South America), leveraged to expand globally

Leader in Italian long term care, developing presence in UK, India

First italian publishing group:

 N.1 in national and local dailies circulation
 N.1 Information website
 N.1 news magazine
 N. 3 Radio network

Note: Participation stakes updated as of 30 September 2018 and calculated net of treasury shares of subsidiaries

Non‐core investments

Investments in Private equity, NPLs

CIR Group profile

• Founded in 1976 by Carlo De Benedetti; controlled 45.8%* by COFIDE‐Gruppo De Benedetti
• Long term investment strategy, with focus on controlling stakes
• Balanced portfolio of assets, with leading positions in their respective businesses
• Active role in governance and in strategic decision making of portfolio companies
• No leverage and significant liquidity available at holding company level
• Commitment to low cost structure

(*) 56.2% net of treasury shares

9M 2018 consolidated financials highlights

• Consolidated net result in 9M 2018: € 34.0 M (vs ‐ € 26.0 M in 9M 2017, affected by the settlement of a pending tax dispute at GEDI)
Contribution of industrial businesses (Sogefi, GEDI and KOS): € 31.5 M
(vs. € 32.0 M in 9M 2017 before the above mentioned extraordinary tax charge)
• Consolidated net financial position at September 30, 2018: ‐ € 354.4 M
(vs. ‐ € 272.5 M at December 31, 2017), including:
-  A net financial surplus at holding level of € 320.3 M
  (decreasing vs. € 343.0 M at December 31, 2017, mainly due to dividends and shares buyback)
-  A net debt of consolidated subsidiaries of € 674,7 M
  (increasing vs. € 615.5 M at December 31 2017 mainly due to SOGEFI and KOS investments and KOS dividend distribution)

Consolidated income statement

€ M

9M 2017(1)	9M 2018
Revenues	2,027.8	2,092.6	+3.2%
EBITDA	247.0	246.0	‐0.4%
EBIT	121.6	118.8	‐2.3%
(14.0)	(26.0)
(189.6)	(31.1)
(26.0)	34.0

(2)

Financial resultTaxes

(3)

Group net result (4)

(1) 2017 figures restated in application of IFRS 15
(2) Difference is mainly due to lower income from financial assets at holding company level (interest income and expense, dividends received, fair value adjustments, trading)
(3) In 9M 2017 Taxes include the tax charge (€ 154.5 M) resulting from the settlement of the dispute at GEDI
(4) Net of third party interests (equal to € ‐27.7 M in 9M 2018 and € +54.8 M in 9M 2017)

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Disclaimer

CIR - Compagnie Industriali Riunite S.p.A. published this content on 29 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 October 2018 12:16:10 UTC

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Company Profile

CIR SpA Compagnie Industriali Riunite is an Italy-based company. The Company structures its business into five sectors: Energy, Media, Automotive Components, Healthcare and Non-core Investments. In the Energy sector, the Company is active in the generation of electrical power and distribution of natural gas. The Media sector is focused on publishing, radio, television and Internet portals operation. The Automotive Components sector is primarily engaged in the production of engine systems and suspension components. In the Healthcare sector, the Company is active in the operation of nursing homes and rehabilitation centers, as well as in the provision of hi-tech medical services, such as diagnostic imagining, nuclear medicine and radio therapy. In the Non-core Investments sector, the Company is involved in venture capital funds, private equity funds and other investments.

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