Brederode (BREB) Q3 2025 earnings summary

Executive summary

• Reported a net loss of €44.09 million for the first nine months of 2025, mainly due to the fall of the dollar against the euro impacting the Private Equity portfolio.

• Shareholders' equity per share stood at €138.49 as of 30 September 2025, down 1.1% year-to-date, including shareholder distributions.

Financial highlights

• Shareholders' equity decreased to €4,058.42 million from €4,142.66 million at year-end 2024.

• Return on equity was -1.1% for the period, compared to 10.4% for the previous year.

• Amounts distributed to shareholders totaled €40.15 million.

Segment performance

• Private Equity portfolio posted a loss of €138.81 million; distributions (€284.39 million) exceeded capital calls (€226.22 million).

• Listed securities portfolio generated a gain of €97.18 million, including €26.95 million in net dividends.

• Notable portfolio changes: increased position in Experian, reduced Nestlé, and received a second dividend in shares from Iberdrola.