Brederode (BREB) H1 2024 earnings summary

Executive summary

• Shareholders' equity per share reached €134.82 as of 30 June 2024, with a profit for the period of €221.48 million.

• Annualized 10-year performance of shareholders' equity per share was 13.7%.

• Both Private Equity and listed securities portfolios delivered positive results, with Private Equity showing strong recovery in valuations and cash flows.

• Shareholders' equity increased by 5.7% in the first half of 2024, including a €1.29 per share distribution in May.

Financial highlights

• Profit for the period was €221.48 million, compared to €182.76 million in the same period last year.

• Shareholders' equity rose to €3,950.89 million from €3,767.21 million at year-end 2023.

• Return on equity for the period was 5.7%.

• Market price per share at period end was €111.40, up from €101.60 at year-end 2023.

• Distribution to shareholders totaled €37.80 million (€1.29 per share).

Outlook and guidance

• Dissipating uncertainty around monetary tightening and a strengthening dollar have created a favorable environment for investments.

• Private Equity-backed companies are refinancing debt and M&A activity is rebounding, signaling renewed market confidence.