The following is a reconciliation of the Group’s net result and equity at the end of the year with the equivalent figures for the Holding Company:
Net result for the year
| (in millions of Euro) | 2014 | 2013 |
|---|---|---|
| Net result per Sogefi S.p.A. financial statements | 2.0 | 15.9 |
| Group share of results of subsidiary companies included in the consolidated financial statements | 23.5 | 32.0 |
| Writedowns/Gains of equity investments in Sogefi S.p.A. | - | - |
| Elimination of Sogefi S.p.A. dividends | (16.3) | (34.9) |
| Elimination of unrealized gains deriving from intercompany transactions and other consolidation adjustments, net of the related deferred taxation | (5.6) | 8.1 |
| NET RESULT PER CONSOLIDATED FINANCIAL STATEMENTS | 3.6 | 21.1 |
Shareholders' equity
| (in millions of Euro) | 21.31.2014 | 12.31.2013 |
|---|---|---|
| Shareholders' equity per Sogefi S.p.A. financial statements | 161.3 | 155.8 |
| Group share of excess equity value of investments in consolidated companies over carrying value in Sogefi S.p.A. financial statements | (26.4) | (22.0) |
| Elimination of unrealized gains deriving from intercompany transactions and other consolidation adjustments, net of the related deferred taxation | 26.3 | 34.7 |
| SHAREHOLDERS' EQUITY PER CONSOLIDATED FINANCIAL STATEMENTS | 161.2 | 168.5 |