Ackermans & van Haaren realised a net profit of 170.7 million euros over the first half of 2023 and is well on track to deliver another strong set of results for the whole year of 2023
August 31 2023 - 1:00AM
Ackermans & van Haaren realised a net profit of 170.7 million
euros over the first half of 2023 and is well on track to deliver
another strong set of results for the whole year of 2023
Dear shareholder,
Dear Madam, Dear Sir,
- In spite of a more challenging economic environment, the
contribution of the core segments of 149.6 million euros is down
only 4% from H1 2022.
- Delen Private Bank and Bank Van Breda have further reinforced
their leading market position and posted stellar performances.
- As expected, capital gains contributed less than in the record
year 2022. The capital gain on the exit of Telemond in H1 2023
illustrates the potential of AvH’s diversified portfolio.
- AvH’s net financial position grew further to 511 million euros
at June 30, 2023.
"The diversification of our portfolio has once again proven its
relevance in an environment which remains challenging, with a
result of our core segments very close to our strong H1 2022
results.
Our banks reported a strong performance on the back of continued
increases in assets entrusted by our customers and the positive
effects of the improved interest environment, compensating somewhat
the negative effects of the more challenging market context on
other participations. Our focus on installation of offshore wind
farms and investments in offshore wind capacity through DEME and
Green Offshore, have also contributed to our group’s overall
resilience in a period of high energy prices.
We are proud of our selection as one of the 20 companies forming
the new BEL ESG Index, launched by Euronext in January. It
constitutes a recognition of our group’s efforts to position itself
as 'partners for sustainable growth' with respect for people and
for the environment. The sale of our 50% participation in Telemond
in February, following a successful collaboration of more than 30
years with the German family Maas, is another example of AvH’s
strategy to support family businesses as a long-term partner.
The recently announced investments in IQIP and Camlin Fine
Sciences (CFS) also fit with our ambition to be 'part of the
solution' in these turbulent markets and to put the ~520 million
euros cash of the recent divestments to work in market leaders with
sustainable business models. IQIP is a specialist in foundation
techniques for offshore wind turbines and as such contributes to
the energy transition. CFS for its part plays a significant role,
as one of the world’s important producers of vanillin and
shelf-life solutions, in addressing the global challenge of feeding
more than 8 billion people in a cost-efficient way whilst
minimising food wastage. We look forward to building out these
companies, together with our current portfolio companies,
successfully over the longer term with their family shareholders
and management teams."
John-Eric Bertrand (co-CEO) and Piet Dejonghe
(co-CEO)
You can read our press release via the link
below.
Best regards
Ackermans & van Haaren
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