PEUGEOT INVEST Net asset value 4
Operations and results of main equity investments 5
New investments/disposals 6
Analysis of results and financial position 8
Main risks and contingencies 9
Events since 30 June and outlook 10
Related-party transactions 10
CONDENSED FIRST-HALF 2016 CONSOLIDATED FINANCIAL STATEMENTS ........................................................................................11Consolidated income statement 13
Other comprehensive income 14
Consolidated balance sheet at 30 June 2016 15
Consolidated statement of cash flows 17
Statement of changes in consolidated equity 18
Notes to the first-half 2016 condensed consolidated financial statements 19
AUDITORS' REPORT ON THE HALF-YEAR FINANCIAL STATEMENTS 38 DECLARATION BY THE PERSON RESPONSIBLE FOR THE HALF-YEAR REPORT ........................................................................................42 FIRST-HALF 2016 REPORT ON OPERATIONS FIRST-HALF 2016 REPORT ON OPERATIONS Net asset value (NAV)Net asset value (NAV) is calculated as the market value of Peugeot SA securities plus the gross value of FFP's Investment Assets, less financial liabilities. Listed companies are valued at market price at the balance sheet date. Details of the valuation methodology used (unchanged from previous publications) are available on the FFP website and in the FFP Registration Document.
At 30 June 2016:
The market value of Peugeot SA shares was €912 million, down €455 million over the six- month period, driven by a 33.3% fall in the share price.
The gross value of FFP's Investment Assets was €2,041 million, up from €1,965 million at 31 December 2015.
FFP's net asset value was €2,660 million (€106.1 per share) as opposed to €3,114 million (€123.8 per share) at 31 December 2015, down 14.6% over the six-month period.
Peugeot SA (A) | 10,4% | 912 | 31% | |
Lisi | a) | 5,1% | 63 | 2% |
CID (Lisi) | b) | 25,2% | 174 | 6% |
SEB S.A. | a) | 5,0% | 275 | 9% |
Zodiac Aerospace | a) | 5,2% | 317 | 11% |
Orpéa | a) | 6,3% | 282 | 10% |
LT Participations | b) | 10,3% | 24 | 1% |
CIEL group | a) | 7,6% | 18 | 1% |
DKSH | a) | 5,9% | 225 | 8% |
Non listed holdings | c) | 293 | 10% | |
Total Holdings (i) | 1 670 | 57% | ||
Private Equity funds | d) | 230 | 8% | |
IDI | a) | 10,1% | 19 | 1% |
Total private equity (ii) | 250 | 8% | ||
Immobilière Dassault | a) | 19,7% | 51 | 2% |
FFP-Les Grésillons | e) | 100,0% | 16 | 1% |
Other Real Estate | c) | 21 | 1% | |
Total Real Estate (iii) | 88 | 3% | ||
Other financial assets | 28 | 1% | ||
Cash | 6 | 0% | ||
Total Other Assets (iv) | 35 | 1% |
Investment Gross Asset Value (i)+(ii)+(iii)+(iv) = (B) | 2 041 | 69% |
Gross Asset Value = (A) + (B) | 2 953 | 100% |
Debt (C) | 293 | |
Net Asset Value = (A) + (B) - (C) | 2 660 | |
i.e. per share | 106,1 € |
* letters refer to valuation methods. Details on www.groupe-ffp.fr
FFP - Société Foncière et Financière de Participations SA published this content on 13 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 September 2016 16:45:09 UTC.
Original documenthttp://www.groupe-ffp.fr/medialibrary/Cms/346/rapport-semestriel-2016-uk.pdf
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