Business update - First nine months of the 2016/2017 financial year

23/02/2017 - 07:00 | Financial

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

The figures given below relate to the period from 1 April 2016 to 31 December 2016. All figures refer to the consolidated figures of Gimv (non-audited figures).

Commentary

Managing Director Koen Dejonckheere, on the past quarter: "The positive trend in the first half-year continued into the past quarter, with the growth of our businesses and investments translating into a further increase in the investment portfolio and equity value."

 

Key elements

Equity

Equity value (Group's share) as at 31 December 2016: EUR 1,229.1 million (EUR 48.34 per share), compared to EUR 1,191.0 million (EUR 46.84 per share) as at 30 September 2016.


Balance sheet (as at 31 December 2016)

  • Balance sheet total: EUR 1,304.0 million
  • Financial assets/portfolio: EUR 954.1 million
  • Net cash position: EUR 328.9 million


Investments

  • Total investments (on balance sheet): EUR 152.9 million (EUR 36.9 million in the third quarter). Additional investments in Gimv-managed funds: EUR 14.6 million (EUR 1.9 million in the third quarter). Total investments (on balance sheet & via co-investment funds): EUR 167.5 million (EUR 38.8 million in the third quarter).
  • The main investments in the third quarter related to MEGA International, and follow-on investments in Itineris and TINC.


Divestments

  • Total divestment revenue (on balance sheet): EUR 364.0 million (EUR 22.2 million in the third quarter). Additional revenue for third parties from divestments in Gimv-managed funds: EUR 306.9 million (EUR 6.2 million in the third quarter). Total divestments (on balance sheet & via co-investment funds): EUR 670.9 million (EUR 28.4 million in the third quarter).

  • Revenue from divestments over the past months (including dividends generated by these shareholdings during the year, interest and management fees): 27.1% higher than their book value on 31 March 2016 and a multiple of 2.7x compared to their original acquisition price.

  • The main divestments in the third quarter: Biodiesel Holding (Bioro) in addition to the partial disposal of the shareholding in the listed company Capman Plc. and various distributions from third-party funds.

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