Asset valuation methods.
A . Period-end share price for listed assets
B . Net asset value for unlisted intermediate holding companies
C . Market value
D . Realisable value
E . Appraised value
F . Historical cost
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% detention
Valuation (€ million)
% Gross Asset Value
Valuation method
9.3%
1,255
28%
A
Assets (1)
-
1,530
33%
A, B & C
5.1%
51
1%
A
CID (LISI)
25.4%
141
3%
B
5%
371
8%
A
0.8%
286
6%
A
5%
336
7%
A
6.9%
9
0%
A
2.3%
75
2%
A
5.4%
113
3%
A
Non listed assets
-
148
3%
C
Private equity vehicles (2)
-
383
9%
A & D
10.1%
30
1%
A
Private equity funds
-
353
8%
D
Co-investments (3)
-
787
18%
C & D
Real Estate (4)
-
467
10%
A & C
19.8%
87
2%
A
Non listed real estate assets
-
380
8%
C
Other assets (5)
-
64
2%
A & D
Other financial assets & liabilities
-
34
1%
A & D
Cash
-
30
1%
Gross Asset Value
Inv.(1)+(2)+(3)+(4)+(5) = (B)
Inv.(1)+(2)+(3)+(4)+(5) = (B)
3,230
72%
Gross Asset Value
= (A)+(B)
= (A)+(B)
4,485
100%
Debt (C)
945
-
Net Asset Value
= (A)+(B)-(C)
= (A)+(B)-(C)
3,540
-
NAV per share
€142.1