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Monday 16 September, 2013

Ffp

2013 first half results

PR Newswire/Les Echos/

Paris, 13 Septem ber 2013

                         NAV per share: EUR64.8

The Board of Directors, chaired by Robert Peugeot, approved the consolidated
financial statements for the first-half 2013.

The net asset value (NAV) rose 16.3% in the first half. The performance of
Peugeot SA's share (up 15.6%) and the Investments followed a similar trend,
especially aerospace companies performed strongly. The half-year ended with the
NAV per FFP share at EUR64.8.

In the first half of 2013, FFP teamed up with other historical shareholders to
sell 500,000 DKSH shares at CHF 78.50 per share in an accelerated offering on
the market. The deal resulted in net proceeds of EUR31.8 million. After the
disposal, FFP retains 5.9% of DKSH's capital. In addition, together with IDI
Emerging Markets, FFP invested USD 5 million in IHS, Africa's leading telecom
towers infrastructure provider, with more than 8,500 towers under management for
mobile telephone operators in Africa.

EURm                          First half           Full year
                            2013        2012          2012
Net Asset Value	NAV        1 631       1 476         1 402
NAV per share               64,8 EUR    58,7 EUR      55,7 EUR
Consolidated net income, 
group share                  -34       -66,1        -900,5
Comprehensive net income, 
group share                -53,7      -400,5      -1 158,8

The consolidated net income for the first half is a loss of -EUR34 million. It
incorporates FFP's share of PSA Peugeot Citroën group losses with a negative
impact of -EUR80.9 million. The net income also includes EUR27.3 million of
capital gains from disposals, EUR25.4 million of which results from the partial
sale of DKSH shares. Consolidated comprehensive income (group share) amounted to
-EUR53.7 million.

FFP's debt at 30 June 2013 was EUR260 million, down from EUR308 million at 31
December 2012. Undrawn credit lines on that date totalled EUR195 million.

Robert Peugeot commented on the results for the first half year:
"FFP's results remain affected by the Peugeot Citroën group losses. The
consolidated net income for the first half was a loss of -EUR34 million, but
reduced from last year first semester. In non-automotive investments, FFP
Investments have overall posted satisfactory activity and results, especially in
the aerospace sector where increases in revenues were strong for Lisi and
Zodiac. Performance was also strong for retirement homes with Orpea, while DKSH
remains driven by consumption growth in South East Asia countries."

About FFP:
FFP is an investment company listed on NYSE-Euronext Paris, majority-owned by
Etablissements Peugeot Frères and managed by Robert Peugeot. FFP is the leading
shareholder in Peugeot SA and pursues a policy of friendly and long-term
investments. FFP holds interests in listed companies (Zodiac Aerospace, SEB,
DKSH and ORPEA), unlisted companies (Sanef and Onet), and private equity funds.

                          www.groupe-ffp.fr
Investor relations:                   Media enquiries: 
Sébastien Coquard: +33 1 40 66 42 11  Bertrand Sirven: +33 1 58 47 87 27
[email protected]            [email protected]

                         FFP's NAV at 30 June 2013

In EURm                 *  % hold   Valuation   % Gross Asset
                                                   value
Peugeot SA (A)             19,0%    426              23%
Lisi              a)        5,1%     46               2%
CID (Lisi)        b)       25,2%    128               7%
SEB S.A.          a)        5,0%    157               8%
Zodiac Aerospace  a)        5,8%    320              17%
Linedata Services a)        0,0%      0               0%
Orpéa             a)        7,2%    135               7%
LT Participations b)       10,3%     26               1%
DKSH              a)        5,9%    241              13%
Non listed 
holdings          c)                190              10%
Total Holdings (i)                1 243              66%

Private Equity 
funds             d)                144               8%
IDI               a)       10,1%     17               1%
Total private 
equity (ii)                         161               9%
Immobilière 
Dassault          a)        5,3%      7               0%
Valmy-FFP (Im. 
Dassault)         b)      100,0%     19               1%
FFP-Les 
Grésillons        e)      100,0%     17               1%
Other Real Estate c)                  3               0%
Total Real Estate 
(iii)                                47               2%

Other financial assets                9               0%
Cash                                  4               0%
Total Other Assets (iv)              14               1%

Investment Gross Asset Value 
(i)+(ii)+(iii)+(iv) = (B)         1 465              77%

Debt (C)                            260
Net Asset Value = (A) + (B) - (C) 1 631
i.e. per share                     64,8 EUR

* letters refer to valuation methods. Details on www.groupe-ffp.fr
                      
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