By Giulia Petroni
Exor NV said late Thursday that it swung to a loss in the first half of the year due to the effect of the coronavirus pandemic and the performance of its subsidiaries.
The investment company, which controls Ferrari NV and Fiat Chrysler Automobiles NV, said it registered a net loss of 1.32 billion euros ($1.56 billion) in the period from a profit of EUR2.43 billion the previous year.
Net asset value decreased to EUR18.71 billion as of June 30 from EUR23.28 billion at Dec. 31.
Looking ahead, Exor said it isn't able to reasonably estimate the effect of the pandemic on its operations and results of its operating subsidiaries due to the uncertainty of the current environment and future developments.
Write to Giulia Petroni at email@example.com