Record divestments produce excellent half-year result of EUR 85.1 million - Investment continues apace with eight new shareholdings - Net asset value up 7.3% over past 6 months to EUR 46.84 per share

17/11/2016 - 07:00 | Financial

Managing Director Koen Dejonckheere, on the past financial half-year's results: "The last six months we once again plucked the fruit of the value creation in our companies. This expressed itself in a record amount of realised gains and in a portfolio that is well on its way to producing an above-average return for the third year in a row. In addition, last year's pace of investment was maintained with eight new shareholdings."

The results for the first half of the 2016-2017 financial year cover the period from 1 April 2016 to 30 September 2016.

Highlights (consolidated figures)

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

    • Positive sales and EBITDA growth in two-thirds of the shareholdings

    • Record exit proceeds with very attractive capital gains

    • Net return on equity of 7.3% (over 6 months)

  • Continued significant investment pace

    • 8 new investments

    • 52 investments in the portfolio

    • Liquidity position = quarter of the balance sheet

Results

  • Net result (group’s share) EUR 85.1 million (EUR 3.35 per share)

  • Net realised capital gains: EUR 71.8 million

  • Net unrealised capital gains: EUR 14.5 million


Equity (at 30.09.2016)

  • Equity value (group’s share): EUR 1191.0 million (EUR 46.84 per share)


Balance sheet (at 30.09.2016)

  • Balance sheet total: EUR 1263.1 million

  • Investment portfolio: EUR 895.4 million

  • Net cash position: EUR 349.6 million


Investments

  • Total investments (on balance sheet): EUR 116.0 million (EUR 128.7 million including co-investment funds)


Divestments

  • Total divestment revenues (on balance sheet): EUR 341.8 million (EUR 642.5 million including co-investment funds)

  • Divestment revenues: 26.7% above their value in equity at 31 March 2016


Dividend

  • Gimv strives to maintain its current dividend policy.

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