Brief: Gimv End-Sept Net Result Group Share Loss Of EUR 75 Million

Gimv NV

17/11/2022 06:12

Nov 17 (Reuters) - Gimv NV  GIMV.BR :
    * GIMV PORTFOLIO COMPANIES DISPLAYED AGAIN SOLID GROWTH IN
THE
FIRST HALF OF 2022: TOTAL REVENUE INCREASED BY 24%, INCLUDING
10% ORGANIC GROWTH
    * FIRST HALF OF THE 2022-23 FINANCIAL YEAR WAS A PERIOD OF
INTENSIVE INVESTMENT ACTIVITY: WE INVESTED EUR 172.5 MILLION IN
6 NEW COMPANIES AND IN 15 STRATEGIC ADD-ON INVESTMENTS
    * SEEKS TO MAINTAIN ITS CURRENT DIVIDEND POLICY
    * AT THE END OF SEPTEMBER 2022, THE LIQUIDITY POSITION WAS
EUR 160
MILLION. IN ADDITION, GIMV HAS EUR 200 MILLION OF UNDRAWN CREDIT
LINES WITH BANKS
    * IT IS NOT CLEAR TO WHAT EXTENT OUR COMPANIES CAN CONTINUE
TO
REFLECT CURRENT GEOPOLITICAL SITUATION AND INFLATION IN THEIR
PRICES
    * IT IS RATHER LIKELY THAT THE STRONG REVENUE GROWTH RATE
WILL NOT
BE ABLE TO BE SUSTAINED FOR THE SECOND HALF OF THE CURRENT
FINANCIAL YEAR AND FOR THE START OF 2023
    * AS A RESULT, THE OVERALL USE OF DEBT LEVERAGE REMAINS
FAIRLY
LIMITED: ON AVERAGE, NET FINANCIAL DEBT WAS 2 TIMES THE EBITDA
AT THE END OF SEPTEMBER 2022
    * H1 OPERATING INCOME EUR 112.4 MILLION VERSUS EUR 208.9
MILLION
YEAR AGO
    * END-SEPT NET RESULT (GROUP SHARE): -EUR 75 MILLION (OR
-EUR 2.8
PER SHARE)
    * END-SEPT TOTAL CASH PROCEEDS FROM DIVESTMENTS: EUR 33.1
MILLION
    * H1 OPERATING LOSS EUR 67.6 MILLION VERSUS PROFIT EUR 148.5
MILLION YEAR AGO
    * H1 NET LOSS EUR 75.4 MILLION VERSUS PROFIT EUR 142.0
MILLION
YEAR AGO

Source text for Eikon:  ID:nNDL1vf016 
Further company coverage:  GIMV.BR 
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