Business update - First 3 months of the 2015/2016 financial year

16/07/2015 - 07:00 | Financial

As well as publishing annual and semi-annual results, Gimv has opted to provide quarterly business updates without publishing full results.

The figures given below cover the period from 1 April 2015 to 30 June 2015. All figures refer to the consolidated figures of Gimv (legal consolidation/non-audited figures).

 

Key elements & Commentary

Equity

  • Equity value (group's share) at 30 June 2015: EUR 1 081.3 million (EUR 42.53 per share), after deduction of the dividend that was paid on 1 July 2015 (EUR 62.3 million or EUR 2.45 per share), compared to EUR 1 092.6 million (EUR 42.97 per share before dividend payment) on 31 March 2015.

Balance sheet (as at 30/06/2015)

  • Balance sheet total: EUR 1 185.5 million
  • Financial assets / portfolio : EUR 905.9 million
  • Net cash position: EUR 256.8 million ( EUR 194.5 million after dividend payment at 1 July 2015)

Commentary

CEO Koen Dejonckheere, over the past quarter: "Just as during the previous financial year, the exit environment remained favourable, that’s why also in the first quarter of this year we could reap the fruit of sustained investments. In addition, the underlying results of our shareholdings continue to grow. This evolution gives us confidence for further value creation from a strong and focused portfolio. "

Investments

  • Total investments (on balance sheet): EUR 3.5 million. Additional investments via co-investment funds: EUR 15.5 million. Total investments (on balance sheet & via co-investment funds): EUR 19.0 million.
  • The main investments in the first quarter concern some small follow-on investments and capital calls by different third party funds.

Divestments

  • Total divestment revenues (on balance sheet): EUR 72.7 million. Additional proceeds from divestments in co-investment funds: EUR 19.6 million. Total divestments (on balance sheet & via co-investment funds): EUR 92.3 million.
  • Revenues from divestments: 56.2% higher than their book value as at 31 March 2015, and a multiple of 1.3x compared to their original acquisition value.
  • The main divestments in the first quarter: Acertys, Easyvoyage, Numac Group, Prosonix, ProxiAD and XL Video.
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