GIMV: High pace of investment and continued strong results
Antwerp — Koen Dejonckheere, Chief Executive Officer (CEO) of the investment company Gimvcomments on the results of the past year: “The past fiscal year once again demonstrates the successful work of Gimv and its portfolio companies. Our portfolio has grown to an all-time high, and the portfolio companies are reporting significant increases in sales and profits. Despite the sometimes challenging and volatile economic environment, we were thus able to increase earnings to 112 million euros and the portfolio return by more than 16%. — Our companies are pioneers in a rapidly changing European economy.”
Hilde Laga, Chairman of the Board of Directors of Gimv, adds: “The success of our investment strategy and the strong performance of our companies were confirmed last year. That is why we are again proposing an attractive dividend of 2.5 euros per share.”
The results for fiscal year 2018–2019 refer to the consolidated figures for the reporting period from April 1, 2018 to March 31, 2019:
— Net result (Group share): 112.1 million euros (or 4.41 euros per share)
— Continued good results of portfolio companies: 10% increase in sales, 14% EBITDA growth
— Portfolio result: 155.3 million euros
— Portfolio return: 16.2% (above the target of 15% for the fifth time in a row)
Investments / divestments:
— Total investments from own balance sheet: 222 million euros in 9 new investments (including the investment in Coolworld Rentals already announced in March and closed at the beginning of April 2019)
— Intensive buy-and-build strategy at various portfolio companies: 20 add-on acquisitions
— Total proceeds from disposals via own balance sheet: 196.2 million euros
Balance sheet and portfolio:
— Investment portfolio: grows by 12.7% to €1,081.9 million
— Portfolio: Young and promising portfolio of 55 investments, in more than 70% of which investments have been made in the past three years
— Balance sheet total: €1,371.3 million
— Liquidity: Cash and cash equivalents decrease by 27.3% to €276.7 million
Equity: Equity (Group share): 1,321.3 million euros (or 52.0 euros per share)
Dividend: Stable dividend for fiscal 2018–2019: 2.50 euros gross (1.75 euros net) per share (subject to approval by the Annual General Meeting on June 26, 2019). As in the previous fiscal year, there will be a pure cash dividend.
Gimv is a European investment company with almost 40 years of experience in private equity. The company is listed on Euronext Brussels, currently manages around EUR 1.1 billion and currently invests in 55 portfolio companies, which together realize a turnover of more than EUR 2.75 billion and employ 14,000 people.
Gimv identifies innovative, leading companies with high growth potential and supports them on their way to market leadership. Each of the four investment platforms Connected Consumer, Health & Care, Smart Industries and Sustainable Cities is managed by a dedicated and competent team, each based in Gimv’s home markets — Benelux, France and DACH — and supported by an extensive international network of experts. www.gimv.com.