Financière de Tubize (TUB) H2 2025 earnings summary

Executive summary

• Acts as the reference shareholder of UCB, holding 36% of shares and maintaining significant board influence through family representation.

• Mission centers on long-term support for UCB's growth and value creation, ensuring stability and readiness to participate in future capital increases.

• Board expertise strengthened with biopharma professionals to enhance strategic discussions and influence at UCB.

Financial highlights

• UCB's key growth drivers (Bimzelx, Fintepla, Rystiggo, Zilbrysq) fueled strong stock price performance in 2024 and 2025.

• Tubize's stock price rose from EUR 72 to EUR 142 in 2024, and further to EUR 209 in 2025.

• Total shareholder return (TSR) for the last 10 years exceeded 14%.

• Dividend yield decreased due to sharp stock price appreciation.

• Dividend increased by 4% this year, aligning with UCB's dividend growth.

Outlook and guidance

• Maintains a long-term strategy to support UCB, including readiness for potential capital increases to fund acquisitions.

• No specific timeline for UCB acquisitions; strategy is to build financial firepower progressively.

• Intends to continue acquiring UCB shares as cash becomes available.