Eurazeo 2009 Net Loss Almost Triples
March 22 2010 - 2:59AM
Dow Jones News
French investment company Eurazeo (RF.FR) Monday said its net
loss almost tripled in 2009, as it booked fewer capital gains and
recorded losses from equity affiliates, derivatives and investment
properties.
Eurazeo's net loss for 2009 increased to EUR199.3 million from
EUR68 million in 2008. The company recorded EUR39.4 million of
losses at its equity affiliates compared with earnings of EUR69.1
million in 2008 and booked capital gains of EUR217.6 million versus
EUR310.9 million a year earlier.
But the investment company said its operational performance
improved in the second half of the year.
"The operating performance by the group's companies improved
significantly in the second half as a result of the adaptation
measures undertaken. Our investments are now well-positioned to
benefit from the economic recovery," chairman of the executive
board, Patrick Sayer, said.
"We have liquid assets of EUR704 million, allowing us to seize
opportunities and to support our investments in their expansion,"
he added.
Eurazeo maintained its divided for 2009 at EUR1.2 a share as it
improved its own liquidity, chairman of the supervisory board,
Michel David-Weill, said.
Eurazeo's net asset value at Dec. 31, 2009, was EUR64.2 a share,
versus EUR53.4 a share a year earlier, the company said.
-By William Horobin, Dow Jones Newswires; +33 1 4017 1740;
william.horobin@dowjones.com
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