Gimv makes 1.3x return on divestments for 2012/13

The Belgian firm reported total divestment revenue, including divestments from co-investment funds, to be €254.8m for the year, including €74.1m in additional revenues from divestments from funds under management. The figure amounts to a 27.5% return on original investments and a 59% increase on Gimv's equity net asset value as of March 2012.

Gimv saw a €32.7m annual profit for the year, which the firm claims to be due to its strong exits for the 2012/13 financial year. The figure is an improvement from the firm's €22m net loss for 2011/12, though Gimv did struggle when divesting some of its long-term portfolio companies.

The sale of Salsa Food Group in December last year, in which Gimv bought a 90% stake in 2007, generated a negative return for the GP. Gimv's 80% stake in Verbinnen Poultry Group, also acquired in 2007, was then written off in March after the firm failed to find a buyer for the company.

As of March 2013, Gimv's net asset value stood at €1bn, equating to a NAV per share of €42.2 – on par with the previous financial year. Gimv made total investments – including in co-investment funds – of €151m in 2012/13.

The GP is offering a dividend of €58.7m, equating to a gross dividend of €2.45 per share, which is optional in cash or stock. The amount remains unchanged from last year's dividend offering. The firm has confirmed plans to offer another optional dividend for 2013/14.

In February, Gimv launched its new Health & Care fund with a target of €200m. The fund is already supported by a €50m commitment from the Flemish government as well as a €50m GP contribution.

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• Topics
• Benelux
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• Gimv
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