Gimv jumps after 'strong' H1, portfolio companies' support
23/11/2023 09:00
** Shares in Gimv GIMV.BR are up 4.6% after the
Belgium-based investment company reports "strong" H1 2024
results
** The Belgium-based investment company publishes a record
level of portfolio of 1.64 billion euro ($1.79 billion) at
H1-end, leading to a portfolio result of EUR 202.8 mln for the
period
** "Strong results," KBC Securities says, adding that they
are supported by good quality portfolio
** "Gimv's portfolio returned +13.3% during H1 FY24 and we
believe that Gimv is well on track to hit its LT return
objective of 15.0% during FY24," KBC says
** The brokerage notes that despite a significant decrease
in activity and multiples across the private market, Gimv has
managed to, during current FY, consistently rotate its portfolio
while managing to crystallise significant capital gains
** "We see the current price decline as a buying opportunity
for both the potential discount contraction and strong dividend
yield of 6.6% for FY24E," KBC adds
($1 = 0.9168 euros)
(Reporting Clement Martinot)
((Clement.martinot@tr.com))