reports
Exor Press Release - Periodic Report on the Buyback Program
Exor Press Release - Periodic Report on the Buyback Program Amsterdam, 22 April 2024 EXOR N.V.: PERIODIC REPORT ON THE BUYBACK PROGRAM Exor N.V. (AMS: EXO) (“Exor” or the “Company”) announces that, under the first tranche of the share buyback program of up to €125 million announced on 15 April 2024 (the “first tranche”), the Company has completed the following transactions on Euronext Amsterdam and CBOE DXE: EURONEXT AMSTERDAM Trading DateNumber of ordinary shares purchasedAverage price per share excluding fees (€)Total consideration excluding fees (€)15 April 202416,834101.081,701,535.2...
Exor Press Release - Restart of Announced Share Buyback Program
Exor Press Release - Restart of Announced Share Buyback Program Amsterdam, 15 April 2024 EXOR N.V. ANNOUNCES THE RESTART OF THE ANNOUNCED SHARE BUYBACK PROGRAM Exor N.V. (the “Company”) announces today that it will restart the share buyback program announced on 13 September 2023 (the “Program”) for the remaining amount of up to € 250 million of ordinary shares to reduce Exor’s share capital in line with the announcement made on 13 September 2023. The Company will start on 15 April 2024 with a first tranche of ...
- ING Helpdesk
Exor Press Release - FY2023 Results
Exor Press Release - FY2023 Results Amsterdam, 11 April 2024 EXOR DELIVERS 33% GROWTH IN NAV PER SHARE IN 2023 NAV reached €35.5 billion at 31 December 2023 with NAV per share increasing by 32.7%, outperforming the MSCI World Index by 15.1 p.p. This increase was mainly driven by the share price performance of Ferrari and Stellantis.Portfolio diversification increased after the PartnerRe sale, with €5.4 billion cash deployed in 2023 into Companies, Investments and share buybacks, while maintaining a strong balance sheet with an LTV ratio of 10% at year-end.Exor has determined that it i...
- Joren Van Aken
Exor - FY 2023 results
• Exor's FY23 NAV landed at EUR 162.4 p/s, up 32.7% YoY, and was 5% above our estimate of EUR 154.6 per share. This increase is mainly thanks to impressive rally of Stellantis & Ferrari. Exor proposed a dividend at EUR 0.46 p/s, up 4.5% YoY• We estimate today's NAV to be EUR 189.9 p/s thanks to a continued rally of the major listed stocks, implying today's discount of 47.6%. That is quite elevated but there are few short-term catalysts to close the gap in our view. Ferrari looks q...
- ING Helpdesk
Benelux Morning Notes
Econocom: Exclusive negotiations to sell maritime salvage group Les Abeilles. Exor: Now a long-term investor in Clarivate, Suzanne Heywood to be a board member. Kinepolis: Slow recovery in Feb box office revenue and attendance in US/Canada, France. Proximus: Telesign reportedly lays off three top executives. TKH Group: FY23 results in line, FY24 outlook sober
Clarivate and Exor sign agreement
Clarivate and Exor sign agreement Clarivate and Exor Sign Agreement Under Which Suzanne Heywood Will Be Nominated to Stand for Election to the Company’s Board of Directors Exor becomes a long-term investor in Clarivate, endorsing the strategic direction set out by the Company’s Management and Board, and announces it now has a 10.1% shareholding in the Company and can increase its participation up to 17.5% London, U.K., and Amsterdam, the Netherlands, March 4, 2024 – (NYSE: CLVT), a leading global provider of transformative intelligence and (AEX:EXO), the Netherlands-based diversified ho...
Exor Press Release - Closing Announcement
Exor Press Release - Closing Announcement Amsterdam, 14 February 2024 EXOR ANNOUNCES THE CLOSING OF ITS NOTES OFFERING Exor N.V. announces the settlement of the previously announced offering of Euro 650 million notes priced on 7 February 2024 with a fixed annual coupon of 3.750% and due on 14 February 2033. The notes have been listed on the Luxembourg Stock Exchange, admitted for trading on the Euro MTF Market and assigned a credit rating of A- by Standard and Poor’s rating agency. This press release is not, and shall not contain or constitute, an offer to sell or a solicitation of an...
Exor Press Release - Pricing Announcement
Exor Press Release - Pricing Announcement Amsterdam, 7 February 2024 EXOR ANNOUNCES THE PRICING OF EURO 650 MILLION NOTES MATURING IN 2033 Exor N.V. (rated A- with stable outlook by Standard & Poor’s) announces the pricing of Euro 650 million notes due on 14 February 2033, with an issue price of 99.371% and a fixed annual coupon of 3.75%. The purpose of the issue is to raise new funds for Exor’s general corporate purposes and refinance debt maturing in 2024. The notes will be listed on the Luxembourg Stock Exchange, admitted for trading on the Euro MTF Market, and the settlement of th...
Exor Press Release - 2024 Corporate Calendar
Exor Press Release - 2024 Corporate Calendar Amsterdam, 31 January 2024 EXOR N.V. PUBLISHES ITS 2024 CORPORATE CALENDAR EXOR N.V. announced today the following Corporate Calendar for 2024: 10 April 2024: Board of Directors Meeting for the approval of the Company’s 2023 Annual Report28 May 2024: Annual General Meeting of Shareholders for the adoption of the Company’s 2023 Financial Statements25 September 2024: Board of Directors Meeting for the approval of the Company’s 2024 Half-Year Financial Report The 2024 Corporate Calendar will be available on Exor’s corporate website under the ...
- Joren Van Aken
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 ta...
- ING Helpdesk
Exor Press Release - 2023 Exor Investor Day
Exor Press Release - 2023 Exor Investor Day Amsterdam, 30 November 2023 2023 EXOR INVESTOR DAY Exor will hold its 2023 Investor Day event today in Turin, Italy. The event will be hosted by Exor’s CEO John Elkann, together with the Company’s leadership team. Attendance in person is by invitation only. A live video webcast of the event will begin today at 3:00pm CET/ 2:00pm GMT / 9:00am EST. To access the webcast please refer to this . Registration will be required. Participants interested in raising a question during the event will be able to do so via the Q&A tab in the webcast platform...
Exor Press Release - Exor to cancel repurchased shares
Exor Press Release - Exor to cancel repurchased shares Amsterdam, 22 November 2023 EXOR TO CANCEL REPURCHASED SHARES EXOR N.V. (AMS: EXO) (“Exor) starts today the process of the implementation of the Board resolution to cancel 13,008,289 ordinary shares or 5.6% of Exor's ordinary issued share capital. These ordinary shares have been acquired as part of the Tender Offer completed on 12 October 2023 (for a total of 8,873,452 ordinary shares) and the share buyback program announced in 2022 (for a total of 4,134,837 ordinary shares). The cancellation of these ordinary shares, which is in li...
Exor Press Release - Tender Offer Result
Exor Press Release - Tender Offer Result THIS PRESS RELEASE IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN AUSTRALIA, CANADA, JAPAN, OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. Amsterdam, 13 October 2023 EXOR ANNOUNCES OVERSUBSCRIBED TENDER OFFER, PART OF ITS €1 BILLION SHARE BUYBACK PROGRAM Exor N.V. (“Exor” or the “Company”) announces the results of the Tender Offer set out in the Offer Memorandum published by the Company on 13 September 2023 (the “Offer Memoran...
- Joren Van Aken
Exor - Tender offer completed
Tender offer completed at strike price of EUR 84.55.6% of share capital to be cancelled post settlement on October 17An estimated EUR 50m remaining portion will be executed in the marketWe prefer if investment companies focus on investing in the portfolio rather than buying back shares to get the discount down. The discount is determined by the market and trades much more on sentiment than on fundamentals. SBBs mainly hurt the liquidity over the long term. Something to keep an eye out for.BUY re...
Exor Press Release - Announcement of the Reference VWAP for the Tender...
Exor Press Release - Announcement of the Reference VWAP for the Tender Offer THIS PRESS RELEASE IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN AUSTRALIA, CANADA, JAPAN, OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. Amsterdam, 10 October 2023 EXOR N.V.: ANNOUNCEMENT OF THE REFERENCE VWAP FOR THE TENDER OFFER On 10 October 2023, the reported closing price of the Ordinary Shares on Euronext Amsterdam was EUR 84.20 per Ordinary Share. The volume weighted average market...
- ING Helpdesk
- Joren Van Aken
Exor - H1 2023: Strong NAV growth and surprise SBB
H1 2023 NAV at EUR 150 p/s, up 23% in H1 and above our estimate of EUR 140Exor will launch a EUR 1bn SBB stating that “the current value of Exor provides an attractive opportunity to invest”Philips remains a peculiar investment (no family link and business in the doldrums) so we are curious to get more info on their rationaleWe estimate today's NAV to be EUR 145 p/s, implying a discount of 44%. Exor has been one of the best performing investment companies in our coverage (+17.5%). We slight...
Exor Press Release - Tender Offer Launch
Exor Press Release - Tender Offer Launch THIS PRESS RELEASE IS NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN AUSTRALIA, CANADA, JAPAN, OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW. Amsterdam, 13 September 2023 EXOR ANNOUNCES THE LAUNCH OF A TENDER OFFER TO REPURCHASE UP TO €750 MILLION IN ORDINARY SHARES AS PART OF ITS NEW €1 BILLION SHARE BUYBACK PROGRAM Exor N.V. (“Exor” or the “Company”) announces the launch of a tender offer to purchase ordinary shares with a nomi...
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