Sep 25, 2024 / 11:00AM GMT
Guido de Boer - Exor NV - Chief Financial Officer
Thank you, Melanie, and good afternoon to everyone. And thank you for joining us today for this presentation of Exor's half year results of 2024.
So starting with the main highlights for the half year. Our net asset value increased to EUR38.3 billion at June 30, up from EUR35.4 billion at January 1. And the main driver of this has been the positive performance of our listed companies as we'll see later in the presentation.
Net debt was equal to EUR3.7 billion at June 30, down from EUR4 billion at the beginning of the year. This decrease is due to the cash flows from dividends being concentrated in the first half of the year. And with that, also our loan-to-value improved to 9% at June 30, down from 10% at the beginning of the year driven by a lower net debt as well as obviously the increase in our gross asset value, net of cash and cash equivalents.
And finally, as we previously announced, as of January 1, Exor reports as an investment entity under IFRS 10. And later in the presentation, we'll provide details regarding this
Half Year 2024 Exor NV Earnings Call Transcript
Sep 25, 2024
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