Report
Exor - Time to cool down
Exor was one of the best performing investment companies in 2023 with a return of 29%, mainly thanks to Stellantis (+67%) and Ferrari (+51%). Historically, the company has also been one of the best performing investment companies in Europe, both over 10 and 20 years.We consider it unlikely that they can replicate such performance in 2024 with Stellantis especially being vulnerable to a potential recessionOutside these two assets, the portfolio is scattered and relatively young. Hence, it will take time before Exor will get meaningful returns from those investments. We therefore see no significant catalyst to lower the discount in
Underlying
EXOR N.V.
Provider
Degroof Petercam
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Joren Van Aken
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