Investment company Gimv had best semester ever in 2023
Flemish investment company Gimv, which has dozens of companies in various sectors in four countries in its portfolio, had its "best semester ever" in 2023, CEO Koen Dejonckheere announced. The company points to a stabilisation of the stock market, recent divestments and portfolio growth as reasons for the profits.
Gimv saw its net profit rise to 158.2 million euros in the first half of the financial year. This is a sharp contrast to the 75.1 million euro loss in the same period last year, due to the difficult economic climate.
Gimv sold four investments in 2023, realising double the original investment amount. The companies in its portfolio increased their sales by 16.6 per cent from April to September, and the total value of the portfolio is currently worth 1.64 billion euros.
That is good news for the Flemish government. It founded the company in 1980 to support companies in Flanders with international growth. Gimv's became more privatised over time, and its investment portfolio is becoming less and less focused on Flanders.
The government announced in September that it wanted to sell its 27.65 per cent stake in the company. Flemish Finance minister Matthias Diependaele said at the time that, from a strategic point of view, the stake had little value for the government.
#FlandersNewsService | GIMV CEO Koen Dejonckheere in 2014 © BELGA PHOTO FILIP DE SMET