The NAV per share, excluding treasury shares and after payment of a total dividend of 1.8 euro per share, amounts to 39.2 euro, a decrease of 5.54% compared with the same figure at December 31, 2019. At September 30, 2020, the net financial position of Italmobiliare S.p.A. was positive for 389.3 million euro, 180.3 million euro lower than at December 31, 2019, with 62% allocated to the Vontobel Fund with a conservative risk profile in line with the Company's investment policies. The main flows include the acquisition of 80% of Officina Profumo Farmaceutica di Santa Maria Novella (-160.0 million euro). The Italmobiliare share price (admitted to the STAR segment of the Stock Exchange on September 24, 2019) at the end of September 2020 had risen by 22.15% from the beginning of the year, compared with a 0.96% increase of the FTSE Italia STAR Index.