Annual Report 2016-2017 (Gimv)

Summary

• Gimv invested EUR 180 million in 11 promising new companies across all four investment platforms.p.4
• The EUR 317 million proceeds from the sale of platform participations represent almost 3 times the initial investment.p.4
• Gimv's 51 shareholdings grew their sales by 11% and EBITDA by 17% over the past year.p.4
• Gimv managed EUR 1.6 billion in assets under management across its portfolio and co-investment partnerships.p.9
• Total proceeds from divestments on the balance sheet reached EUR 394.3 million in FY 2016-2017.p.33
• Gimv increased its dividend to EUR 2.50 per share for the financial year.p.5

Key insights

1. Gimv posted a net profit of EUR 131.9 million for the 2016-2017 financial year.p.4
2. Net realised capital gains during FY 2016-2017 reached EUR 84.3 million, with Smart Industries contributing EUR 51.2 million.p.31
3. Gimv made EUR 179.6 million of on-balance sheet investments during FY 2016-2017.p.32
4. Gimv's net cash position reached EUR 313.9 million at the end of March 2017.p.33
5. Group equity increased to EUR 1 233.2 million, equivalent to EUR 48.50 per share.p.33
6. Total divestments including co-investment partnerships reached EUR 707.8 million in FY 2016-2017.p.33
7. The average debt ratio for portfolio companies stood at 2.4 times operating cash flow (EBITDA).p.43