Other activities

This sector principally includes the following activities:

• administration of the Group’s overseas investments, rendering of support for the carrying out of feasibility studies in respect of new overseas projects and the procurement of funds from international money markets through Finstahl Sa, Falck Energy Sa and Falck Financial Services Sa;

• equity investment of 31% in Leonardo Holding Sa;

• equity investment of 31% in Leonardo Srl, the latter controlling 51.15% of the equity in Aeroporti di Roma SpA. 

• rendering of factoring services by Riesfactoring SpA to Group companies and to a limited number of third parties;

• rendering of services by Sesto Siderservizi Srl.

The investment held in Il Chiodo Srl was sold during the year for Euro 3,060 thousand registering a loss at Group level of Euro 1,171 thousand. This entity is carrying out an immovable property project at Treviso.

The principal data of the Other activities sector is as follows:

This sector registered a loss for the year amounting to Euro 3,051 thousand as compared to a profit of Euro 44,274 thousand achieved during 2003, the latter year substantially influenced by non-recurring revenue in respect of the share of the profit generated from the disposal of 44.74% of Aeroporti di Roma SpA.

The result for the year includes a loss of Euro 862 thousand resulting from the consolidation by the equity method of Leonardo Srl, which recognises the profit achieved by Aeroporti di Roma SpA. The result for the current year also includes a windfall charge (Euro 459 thousand) in respect of a waiver by Finstahl Investments Sa (now Falck Energy Sa) and dividends received from Unicredito Italiano SpA (Euro 2,144 thousand) and Hopa SpA (Euro 150 thousand).