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%
1,827
36%
A
Assets (1)
-
1,823
36%
A, B & C
5.1%
78
2%
A
CID (LISI)
25.3%
217
4%
B
5%
399
8%
A
0.7%
413
8%
A
5%
346
7%
A
6.9%
18
0%
A
2.3%
64
1%
A
5.5%
139
3%
A
Non listed assets
-
149
3%
C
Private equity vehicles (2)
-
325
6%
A & D
10.1%
33
1%
A
Private equity funds
-
292
6%
D
Co-investments (3)
-
662
13%
C & D
Real Estate (4)
-
395
8%
A & C
19.8%
87
2%
A
Non listed real estate assets
-
308
6%
C
Other assets (5)
-
87
2%
A & D
Other financial assets & liabilities
-
33
1%
A & D
Cash
-
54
1%
Gross Asset Value
Inv.(1)+(2)+(3)+(4)+(5) = (B)
Inv.(1)+(2)+(3)+(4)+(5) = (B)
3,292
64%
Gross Asset Value
= (A)+(B)
= (A)+(B)
5,119
100%
Debt (C)
724
-
Net Asset Value
= (A)+(B)-(C)
= (A)+(B)-(C)
4,395
-
NAV per share
€176.4