May 20, 2020 / 5:17 AM / 10 days ago

BRIEF-GIMV Publishes FY Net Loss Group Share Of 151.6 Million Euros

May 20 (Reuters) - Gimv Investeringsmaatschappij Voor Vlanderen NV:

* END-MARCH: CONFIRMATION OF STRONG GROWTH IN OUR PORTFOLIO COMPANIES IN 2019: 12% SALES GROWTH & 9% EBITDA GROWTH

* END-MARCH PORTFOLIO RESULT: EUR -112.0 MILLION

* END-MARCH NET RESULT (GROUP’S SHARE) EUR -151.6 MILLION (EUR -5.96 PER SHARE)

* DIVIDEND STABLE FOR FY 2019-2020 FINANCIAL YEAR, IN LINE WITH GIMV’S DIVIDEND POLICY: EUR 2.50 GROSS/SHARE

* AS OF MARCH 31 2020 CASH AND CASH EQUIVALENTS OF EUR 368 MILLION

* MAJOR STOCK MARKET CORRECTION IN MARCH 2020 DUE TO COVID-19 HAD DIRECT NEGATIVE IMPACT ON VALUATION MULTIPLES, LEADING TO SIGNIFICANT UNREALIZED WRITE-DOWN OF PORTFOLIO

* ON PORTFOLIO COMPANIES: SIGNIFICANT NEGATIVE VALUATION IMPACT DUE TO STOCK MARKET DOWNTURN FOLLOWING COVID-19 CRISIS

* ON COVID-19: STILL TOO EARLY TO GET A CLEAR PICTURE OF THE IMPACT ON THE RESULTS OF OUR COMPANIES, BOTH FOR THE PRESENT AND THE COMING FY

* END-MARCH BALANCE SHEET TOTAL: EUR 1.4 BILLION

* END-MARCH EQUITY VALUE (GROUP’S SHARE): EUR 1,104.9 MILLION (EUR 43.5 PER SHARE) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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