Value8 (VALUE) H2 2024 earnings summary

Executive summary

• Achieved two milestones: equity surpassed €100 million and Kersten (Morefield) exceeded €100 million in turnover for the first time.

• Net asset value per share (including dividends) increased by over 7% year-over-year.

• Several divestments, including AmsterdamGold (€6.2m) and Fund Solutions (€2.5m), improved financial position.

• Strong focus on supporting SME growth, with a diversified portfolio across listed and private companies.

Financial highlights

• Net profit rose to €7.1 million, up from €5.8 million in 2023.

• Total income increased by 17.1% to €9.6 million; dividend income up 73% to €3.8 million.

• Shareholders' equity grew from €97.2 million to €103.0 million; solvency improved to 93.7%.

• Net asset value per share rose from €9.37 to €9.86; total return (including dividend) was 7.3%.

• Interest-bearing debt reduced to €5.2 million from €7.1 million.

Outlook and guidance

• Positive outlook for 2025, expecting further growth based on strong fundamentals at portfolio companies.

• Macro trends of strong US growth and weak European economy expected to persist in 2025.

• Morefield announced intention to acquire Naviva Kraamzorg, expected to close in May 2025.