Shareholders’ equity and Group Solvency

Shareholders’ equity and Group Solvency

The shareholders’ equity attributable to the Group amounted to € 23,204 million at 31 December 2014 compared to € 19,778 million at 31 December 2013. The increase of 17% is mainly attributable to:

  • the result for the period attributable to the Group, which amounted to € 1,670 million at 31 December 2014;
  • the dividend distribution of € -701 million, carried out in 2014;
  • other gains or losses recognized through equity in the current year amounted to € 3,372 million. In particular, this result was attributable to € 3,997 million gains or losses from financial assets available for sale and only partially offset by the deterioration of profits from the re-measurement of liabilities relating to defined benefit plans for €-537 million attributable to the decrease in the reference rate used to discount such liabilities;
  • the overall negative impact on Group equity from the purchase of minority interests in GPH in 2014 for € -684 million included in changes in other balance sheet items.

(€ million)31.12.201431.12.2013
Shareholders' equity attributable to the Group at the end of the previous period 19,778 19,013
Result of the period 1,670 1,915
Dividend distributed -701 -311
Other comprehensive income 3,372 -132
  Reserve for unrealized gains and losses on available for sale financial assets 3,997 70
  Foreign currency translation differences 12 -279
  Net unrealized gains and losses on hedging derivatives 14 99
  Net unrealized gains and losses on defined benefit plans -537 88
  Other net unrealized gains and losses -114 -110
Other items -915 -706
Shareholders' equity attributable to the Group at the end of the period 23,204 19,778