Eurazeo has reported group net income of EUR88.5m for the first half of 2010, compared with a loss of EUR120.9m for the first half of 2009.
Consolidated revenues totalled EUR1,892.9m, an increase of 4.5 per cent with more pronounced second quarter growth.
The completion of the optimised divestiture programme of Danone shares contributed to Eurazeo cash assets of EUR725m as of 25 August 2010.
The group also refinanced Europcar’s fleet, supported the creation of hotel group Accor and prepaid services provider Edenred, committed for the divestiture of B&B Hotels, and launched Eurazeo Croissance, which made its first investment in Fonroche.
The net asset value was EUR66.1 per share as of 30 June 2010, versus EUR61.1 as of 31 December 2009
Patrick Sayer, chairman of the executive board, says: "The first half of 2010 confirms the return to growth of group companies, accelerating for each of them during the second quarter. Savings measures implemented over the past 18 months have paid off and the result provides a good illustration of Eurazeo’s professional shareholding role in supporting its companies’ development and value creation initiatives.
“The significant improvement in the margins of group companies during the first half gives us confidence that Eurazeo will continue to improve performance during the second half."
