Contribution of companies net of finance costs
The contribution of companies net of finance costs rose by +5.9% to €155 million, due to the improvement in the adjusted EBIT of the fully consolidated investments, net of finance costs, by +10.2% to €150 million and a decline in the net income of equity-accounted companies to €5.4 million, compared to €10.6 million in H1 2017.
Eurazeo recorded pre-tax capital gains totaling €237 million (full share) in H1 2018, due primarily to changes in unrealized capital gains of Moncler for €176 million as this participation is recorded since 2016 in financial assets at fair value through profit and loss.
Non-recurring items totaled -€45 million in H1 2018. They include €26 million in investment expenses and €19 million in exceptional costs spread out across the entire scope.
Net income attributable to owners of the Company was €190 million in H1 2018, compared with pro forma net income of €156 million in H1 2017.