Gimv (GIMB) Q3 25/26 earnings summary

Executive summary

• Achieved accelerated growth with a 14.3% portfolio return over 9 months (19.1% annualized), surpassing targets, driven by margin expansion, capital gains on exits, and record €466 million investment, growing the portfolio to over €2.1 billion, a 31% increase year-over-year.

• Net profit reached €173.3 million (€4.8 per share), with NAV per share up 9% to €55.1.

• Portfolio companies delivered strong sales and EBITDA growth, demonstrating resilience despite challenging economic conditions.

• Maintained strong liquidity with over €500 million available.

• Proposed dividend of €1.95 per share, consistent with prior year on a pro rata basis.

Financial highlights

• Portfolio result of €231 million, with €52.7 million realized (mainly capital gains) and €155.9 million unrealized (valuation increases).

• Exit proceeds totaled €197 million from three successful exits, achieving a 2.6x money multiple and 12.6% IRR.

• Portfolio return for 9 months was 14.3% (19.1% annualized), exceeding targets.

• NAV increased to €2,029.5 million, or €55.1 per share.

• Available liquidity stood at €534 million, including €324 million in cash.

Outlook and guidance

• Budgeted ambitions for 2026 support confidence in continued above-market growth.

• Focus remains on portfolio growth, technological transformation, and value creation in core platforms.

• Discontinuation of new investments in the Life Sciences platform; existing portfolio to be managed for value maximization.

• Measures taken in key portfolio companies (e.g., Cegeka) expected to drive improved results in 2026.

• Continued emphasis on sustainability and ESG integration across the portfolio.