The profits of the Maramotti Holding Company at 557 billion thanks to the maxidividance detached from the subsidiary Max Mara Srl. The entire sum will go to extraordinary reserve within the broader restructuring plan

 

Fly the 2017 profit of Max Mara Fashion Group srl, the holding company of Maramotti, which is responsible for the Emilian family’s activities in clothing and fashion.

2017 also saw a growth in group turnover, which rose to 1.55 billion (from 1.43 billion in the previous year).

Last year, the holding company, according to Radiocor, reported net profits of € 557 million (from € 22.9 million in 2016), thanks however to a € 500 million super-dividend detached from the main subsidiary, Max Mara srl.

Last year, however, the latter recorded profits of 114 million.

In all the financial income of the holding company amounted to 526 million (from 10.5 million in the previous year) while the revaluation of some investments led to another 13.55 million.
In any case, the shareholders’ meeting decided to allocate the entire monstre income to the extraordinary reserve.

It should also be remembered that in the entire Maramotti corporate galaxy, during the last few months, an important reorganization took place with the anonymous financial company from Emilia (formerly Max Mara Finance), candidate to become a safe specialized in financial management.
While Cofimar (which is responsible for the share in Unicredit and Luxembourgish Ibef) will be ‘devoted to the management of bank holdings’ and Max Mara Fashion Group to the industrial business, that is, to fashion.

In this context, the Max Mara Fashion Group has spun off and demerged in favor of the financial Anonima “the business unit intended for legal services and audits together with the resources used and other assets, contracts and securities: a package valued at 900 million net assets “.
It is therefore plausible that the maxi dividend detached in 2017 and placed in reserve falls within this broader plan of reorganization.