Important divestments plus strong operational performance by investee companies produce excellent portfolio return of 19% and net profit of EUR 131.9 million

18-05-2017 07:00

Managing Director Koen Dejonckheere, on the past financial year's results: "The past year was another intense and successful year for Gimv. We invested in 11 promising new companies, across all our investment platforms, for a total of EUR 180 million. At the same time, market conditions remained favourable, permitting 12 exits with a positive impact on income. This result was also buoyed by the strong performance of investee companies. Our active investment approach, together with the significant value creation in our portfolio, enabled us to post a strong result for the 2016-2017 financial year. The 19 percent portfolio yield translates into a net profit of EUR 132 million."

Chairman Hilde Laga adds: "The sector-oriented platform strategy we opted for as well as the financial, strategic and industrial expertise built up in this way strengthens our investment approach aimed at sustainable long-term value creation. The specializations built over the years allowed us last year to continue to invest actively, in what is a very competitive market, which strengthens our confidence in our ability to advance vigorously into the future. "

 

The results for the 2016-2017 financial year cover the period from 1 April 2016 to 31 March 2017.

 

Highlights (consolidated figures)

  • Results supported by strong portfolio result for the 3rd consecutive year.

    • Solid sales and EBITDA growth in the large majority of the shareholdings

    • Record amount of divestments with attractive capital gains

    • Return on equity of 11.0%

  • Strong pace of investment continues

    • 51 shareholdings in portfolio, of which 11 were added during the past financial year

 

Results

  • Net result (group’s share) EUR 131.9 million (EUR 5.19 per share)

  • Net realised capital gains: EUR 84.3 million

  • Net unrealised capital gains: EUR 55.7 million

Equity (at 31.03.2017)

  • Equity value (group’s share): EUR 1,233.2 million (EUR 48.50 per share)

Balance sheet (at 31.03.2017)

  • Balance sheet total: EUR 1,315.3 million

  • Investment Portfolio: EUR 963.6 million

  • Net cash position: EUR 313.9 million (EUR 250.3 million when taking into account the planned dividend payment)

Investments

  • Total investments (on balance sheet): EUR 179.6 million

Divestments

  • Total divestment revenues (on balance sheet): EUR 394.3 million

  • Divestment revenues: 2,3x their investment cost and 26.9% above their value in equity at 31 March 2016.

Dividend

  • Dividend for FY 2016-2017 rises to EUR 2.50 gross (EUR 1.75 net) per share (subject to approval by the General Meeting of 28 June 2017)

  • This year we have opted for a 100% cash dividend

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