The Board of Directors of Risanamento S.p.A., chaired by Mr. Luigi Zunino, has approved the report to September 30, 2005 which closes with a net profit of 140.9 million (September 30, 2004: 4.9).
As at September 30, 2005, completed sales of property and investments total 734 million with a gross margin of 230 million.
Highlights among the largest sales during the period were: the transfer of the controlling interest in IPI SpA, a property portfolio formerly owned by ENEL and the Porta Vittoria area.
During the same period, properties were acquired either directly or through equity investments for a total of 690 million.
Among the largest purchases during the period are four properties located in the center of Paris, four properties in Rome, and the investment in Atrium Sviluppo S.p.A. a company owning five commercial and industrial properties located in Rome, Milan and Naples, leased to Fiat Auto.
The former Falck property, covering 1.5 million m², was also acquired. The town planning has been assigned to the architect Renzo Piano.
With regard to the business outlook, reassured by the transactions completed during the first nine months of the year and the Risanamento group's prospects and development plans, Risanamento considers that the expected overall results will prove to be attractive.