Loss from discontinued operations

The loss from discontinued operations amounts to €20.4 million (loss of €5.1 million) and includes:

• the release of the translation reserve of €13.9 million related to the foreign operations of Todini Costruzioni Generali sold on 4 April 2016;
• the gain on the disposal of assets of €1.4 million again belonging to Todini Costruzioni Generali;
• the loss of HCE’s Italian business unit of €7.2 million.