The financial statement, ending December 31, 2010, highlights Fondazione’s commitment to optimizing ordinary activities, by placing the utmost attention on cost control and investments through the application of conscientious management practices. As a result, it closed the year with a profit of 3.7 million Euros, after taxes, without extraordinary items, with net assets of 612 million Euros and investments valued at more than 71 million Euros, pursuant to the decisions made by previous Fondazione’s Boards of Governors and accrued as an expense commitment in this fiscal year. More specifically, investments were made to complete the office buildings, create a parking system and landscape the public green areas in the fieramilano district, and to develop the MiCo-Milano Congressi project, Europe’s largest congress center in fieramilanocity, and the first project completed for Expo 2015 and for the City of Milan.
An important fact to consider here is that the financial year that has just ended lasted 18 months, pursuant to a change in the Articles of Incorporation approved by the Board of Governors and confirmed by the Regional Authority (DPGR No. 5068 dated 14 April 2010), modifying the closing date of the fiscal year from June 30 to December 31 of each year.