Regulated information, Leuven,
Interim Financial Report 2022/2023
KBC Ancora recorded a profit of
Abridged financial summaries and notes1
Results for the first half of financial year 2022/2023
1H FY (x | 2022/2023 per share (in EUR) | 1H FY (x | 2021/2022 per share (in EUR) | |
Income | 77,523 | 0.99 | 232,576 | 2.97 |
Operating income | 7 | 0.00 | 27 | 0.00 |
Recurring financial income Dividends from financial fixed assets | 77,516 | 0.99 | 232,549 | 2.97 |
Expenses | -6,214 | -0.08 | -8,667 | -0.11 |
Operating costs | -1,578 | -0.02 | -1,733 | -0.02 |
Financial expenses | -4,636 | -0.06 | -6,934 | -0.09 |
Result after taxes | 71,309 | 0.91 | 223,910 | 2.86 |
Distribution of interim dividend | 0 | 0.00 | 180,093 | 2.30 |
Number of shares in issue* | 78,301,314 | 78,301,314 | ||
Number of shares with dividend entitlement at balance sheet date | 77,350,759 | 78,184,128 |
* No instruments have been issued which could lead to dilution.
Income consisted principally of dividend received on the participating interest in KBC Group (
Balance sheet at
(x | * | |
BALANCE SHEET TOTAL | 3,756,143 | 3,680,265 |
Assets | ||
Fixed assets | 3,599,979 | 3,599,979 |
Current assets | 156,164 | 80,287 |
Liabilities | ||
Equity | 3,507,628 | 3,436,319 |
Contribution | 2,021,871 | 2,021,871 |
Unavailable reserves | 1,312,315 | 1,282,494 |
Available reserves | 101,890 | 131,711 |
Profit (loss) carried forward | 243 | 243 |
Result for the period | 71,309 | n/a |
Creditors | 248,515 | 243,947 |
Amounts falling due after more than one year | 243,000 | 243,000 |
Amounts falling due within one year | 222 | 190 |
Accrued expense and deferred income | 5,294 | 756 |
* The balance sheet at
The balance sheet total at
The number of shares held by
Current assets increased by
Equity increased by
Interim report on the first six months of the current financial year 2022/2023
Notes on the first half of the current financial year 2022/2023
Results for the first six months of the financial year 2022/2023
This result was influenced principally by the following factors:
- An interim dividend of
EUR 1.00 per KBC Group share in respect of the financial year 2022. In the same period in the previous financial year, KBC Group distributed a dividend ofEUR 1.00 per KBC Group share in respect of the financial year 2021, plus an additional dividend ofEUR 2.00 per KBC share in respect of the financial year 2020. - Interest charges amounting to
EUR 4.6 million ,EUR 2.4 million less than in the same period in the previous year owing to the repayment of loans totallingEUR 100 million inMay 2022 . - Operating expenses amounting to
EUR 1.6 million ,EUR 0.2 million less than in the same period in the previous financial year. The operating expenses consisted primarily of costs incurred under the cost-sharing agreement with Cera (EUR 1.0 million ). In addition, there were the usual costs such as listing fees and management expenses. There was also a tax liability ofEUR 0.3 million on the securities accounts in the first half of the financial year.
Participating interest in KBC Group, net debt position and net asset value
The number of KBC Group shares in portfolio remained unchanged during the past six months at 77,516,380.
Under the share repurchase programme launched on
The net asset value of the
Based on the stock price of the KBC Group share on
The following charts illustrate the movements in the price of the KBC Group and
Trend in KBC Group and KBC Ancora share price (January – | Trend in discount of KBC Ancora share to its net asset value (January – |
Appointments at the statutory director, Almancora Société de gestion
Principal risks and uncertainties in the remaining months of the financial year
Certain risk factors could have an impact on the value of the assets held by
Barring unforeseen circumstances, the current share repurchase programme will be completed in the second half of the financial year 2022/2023. This implies a further investment of
KBC Group reported a net result of
Partly dependent on the decisions taken by KBC Group regarding the distribution in the first half of 2023 of a final dividend in respect of the financial year 2022, the Board of Directors of Almancora Société de gestion, statutory director of
Declaration by the responsible individuals
“We, the members of the Board of Directors of Almancora Société de gestion, statutory director of
a) the abridged financial summaries, drawn up in accordance with the applicable standards for financial statements, present a true and fair picture of the capital position, financial position and results of
b) the interim financial report presents a true and fair view of the key events and principal transactions with affiliated parties during the first six months of the current financial year and of their impact on the abridged financial summaries, as well as a description of the principal risks and uncertainties during the remaining months of the financial year.”
Information on the external audit
The statutory auditor has reviewed the abridged interim financial information and accompanying notes. The auditor's report is appended to this interim report.
---------------------------------
KBC Ancora is a listed company which holds 18.6% of the shares in KBC Group and which together with Cera, MRBB and the Other Permanent Shareholders is responsible for the shareholder stability and further development of the KBC group. As core shareholders of KBC Group, these parties have signed a shareholder agreement to this effect.
Financial calendar:
27 October 2023 General Meeting of Shareholders
This press release is available in Dutch, French and English on the website www.kbcancora.be.
KBC Ancora Investor Relations & Press contact:
Tel.: +32 (0)16 279672
E-mail: jan.bergmans@kbcancora.be or mailbox@kbcancora.be
Appendix: Balance sheet and profit and loss account with comparative figures
(x | * | |
BALANCE SHEET TOTAL | 3,756,143 | 3,680,265 |
Assets | ||
Fixed assets | 3,599,979 | 3,599,979 |
Financial fixed assets | 3,599,979 | 3,599,979 |
Companies with which there is a participatory relationship | 3,599,979 | 3,599,979 |
Participating interests | 3,599,979 | 3,599,979 |
Current assets | 156,164 | 80,287 |
Receivables due within one year | 2 | 6 |
Trade receivables | 2 | 6 |
Investments | 34,157 | 4,336 |
34,157 | 4,336 | |
Cash at bank and in hand | 122,004 | 75,939 |
Accrued income and deferred expense | 1 | 5 |
Liabilities | ||
Equity | 3,507,628 | 3,436,319 |
Contribution | 2,021,871 | 2,021,871 |
Issued capital | 2,021,871 | 2,021,871 |
Reserves | 1,414,205 | 1,414,205 |
Unavailable reserves | 1,312,315 | 1,282,494 |
Legal reserve | 141,900 | 141,900 |
Unavailable reserve for treasury shares | 34,157 | 4,336 |
Other unavailable reserves | 1,136,257 | 1,136,257 |
Available reserves | 101,890 | 131,711 |
Profit (loss) carried forward | 243 | 243 |
Profit/loss for the period | 71,309 | n/a |
Creditors | 248,515 | 243,947 |
Amounts falling due after more than one year | 243,000 | 243,000 |
Financial liabilities | 243,000 | 243,000 |
Credit institutions | 243,000 | 243,000 |
Amounts falling due within one year | 222 | 190 |
Trade creditors | 151 | 155 |
Suppliers | 151 | 155 |
Other creditors | 70 | 35 |
Accrued expense and deferred income | 5,294 | 756 |
* The balance sheet at
(x | ||
Operating income | 7 | 27 |
Other operating income | 7 | 27 |
Operating costs | 1,578 | 1,733 |
Services and sundry goods | 1,273 | 1,332 |
Other operating costs | 305 | 400 |
Operating result | -1,571 | -1,705 |
Financial income | 77,516 | 232,549 |
Recurring financial income | 77,516 | 232,549 |
Income from financial fixed assets | 77,516 | 232,549 |
Financial expenses | 4,636 | 6,934 |
Recurring financial charges | 4,636 | 6,934 |
Cost of debt | 4,582 | 6,934 |
Other financial expenses | 54 | 0 |
Financial result | 72,880 | 225,615 |
Profit (loss) before tax | 71,309 | 223,910 |
Profit (loss) after tax | 71,309 | 223,910 |
Statutory auditor's report to the board of directors of KBC Ancora NV on the review of the condensed interim financial information as at
FREE TRANSLATION OF A REPORT ORIGINALLY PREPARED IN DUTCH
Introduction
We have reviewed the accompanying interim financial report 2022/2023, containing the condensed balance sheet of
Scope of Review
We conducted our review in accordance with the International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of condensed interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial information as at
Zaventem,
Statutory Auditor
represented by
Bedrijfsrevisor / Réviseur d’Entreprises
1 KBC Ancora's reporting is based on Belgian GAAP.
See Appendix for the balance sheet and profit and loss account.
2 Number of KBC Group shares in portfolio / (number of shares in issue – number of treasury shares) = 77,516,380 / (78,301,314 – 950,555) = 1.002.
3 Net debt is defined here as total liabilities less total assets excluding financial assets and excluding treasury shares.
Attachment
- KBCA PB 20230127 E
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