Gimv (GIMB) H1 25/26 earnings summary

Executive summary

• Achieved a non-annualized portfolio return of 9.5% for H1 2025, with net profit of €126.9m (€3.4 per share), and NAV per share up 6.3% to €53.9.

• Portfolio value reached a record €2bn, a 20% increase in 6 months, with over €300m invested in new and existing companies.

• Maintained strong liquidity with over €600m available, including €439m in cash.

• Companies demonstrated resilience amid challenging European economic conditions, with portfolio sales up 6.8% and EBITDA up 6.3% year-over-year.

• Portfolio now consists of 64 companies diversified across five platforms and four countries.

Financial highlights

• Portfolio result of €154m (9.5% return), with €39.1m realized and €99.1m unrealized, compared to €186.8m (12.0%) in H1 2024-25.

• Net profit: €126.9m, down from €144.9m in H1 2024-25.

• NAV per share rose from €50.7 to €53.9 in six months, net of €2.6 dividend.

• Investments totaled €317m in H1 2025; exit proceeds reached €150m.

• Available liquidity: over €600m, with €439m in cash and €210m undrawn credit lines.

Outlook and guidance

• Portfolio return on track to meet the increased annual target of 17.5%.

• Operating profitability expected to outpace top-line growth for the full year.

• Sustained investment capacity and focus on innovation and sustainability support further growth.

• Commitment to current dividend policy and further embedding of ESG practices across the portfolio.