High investment level and continuous strong results

23/05/2019 - 07:00 | Financial

Managing Director Koen Dejonckheere, on the past financial year's results:

The past financial year again brought strong results for Gimv and its portfolio companies, with the private equity portfolio growing to its highest level yet and portfolio companies reporting sharply increased turnover and profits. 

Despite the at times challenging and volatile economic environment, earnings rose to EUR 112 million and the portfolio return to above 16%.

Gimv remains a solid growth partner for our companies, who are determined to lead the way in Europe's rapidly transforming economy. 

Chair Hilde Laga adds:

The success of our investment strategy and the strong performance of our companies were confirmed in the past year. This gives us confidence to propose again an attractive dividend of EUR 2.50 per share.

The results for the 2018-2019 financial year cover the period from 1 April 2018 to 31 March 2019.

Key elements

Results

  • Net result (share of the group) EUR 112.1 million (EUR 4.41 per share)
  • Continuing good results from the portfolio companies: 10% sales & 14% EBITDA growth
  • Portfolio result: EUR 155.3 million
  • Portfolio return: 16.2% (for the fifth consecutive year above the 15% target)

Investments / Divestments

  • Total investments: EUR 222 million in 9 new portfolio companies*
  • Intensive buy-and-build itineraries at various portfolio companies: 20 add-on acquisitions
  • Total divestment proceeds: EUR 196.2 million

Balance sheet and portfolio

  • Investment portfolio grows 12.7% to EUR 1 081.9 million.
  • Young and promising portfolio of 55 portfolio companies, with 70%+ of the portfolio invested in the last 3 years
  • Balance sheet total: EUR 1 371.3 million
  • Cash position down 27.3% to EUR 276.7 million

Equity

  • Equity value (group’s share): EUR 1 321.3 million (EUR 52.0 per share)

Dividend

  • Dividend stable for FY 2018-2019: EUR 2.50 gross (EUR 1.75 net) per share (subject to approval by the General Meeting of 26 June 2019)
  • Like last financial year, we have opted for a 100% cash dividend.

 

* Incl. the investment in Coolworld Rentals, already announced in March and concluded in early April 2019.

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