By estimates doing some numbers this morning, the company owns...

By estimates doing some numbers this morning, the company owns about 50% of 1.67m m2 of retail which rents for about a average of $450-500 net per m2 which works out to around $350M of income. That's Just over 50% of the business income and with a yeild value of around 7% which is cheap (6 - 6.5% sale value is normal market value) it values its assets around $5 Billion.(don't forget these assets grow income around 3-4% a year)

That alone as a component of the share price is around $1.75 - $1.8 which is safe sound income year in year out.

Then to add you still have the remaining business operations which from the $680m generate is about half of that, however valued at a higher yeild so say 10% and ill compensate another loss of income of $150m making it $180m left of income values it at $1.8 Billion or $0.62c per share as a component.

Combined is about $2.37 a share as a safe value under valuing the retail and compensating further $150m of losses beyond the $680m reported.

If the company gets back on track this year and moves forward with strong foundations implemented by Ferrari , there is fantastic upside here.

In terms of hitting the bottom, I think where here

Dont you just love the name Francesco de Ferrari 

I can just imaging the headlines at the end of the year lol