Regulated data, Leuven, 26 August 2022 (17.40 hrs CEST)

KBC Ancora closes monetary 12 months 2021/2022 with a revenue of EUR 804.Eight million

KBC Ancora recorded a revenue of EUR 804.Eight million within the monetary 12 months 2021/2022, equal to EUR 10.28 per share. This compares with a revenue of EUR 529.7 million within the earlier monetary 12 months. This outcome was decided principally by the excessive dividend revenue obtained from the collaborating curiosity in KBC Group (EUR 821.7 million). The outcome within the earlier monetary 12 months was due in very giant half to the reversal of the remaining impairments on the collaborating curiosity in KBC Group (EUR 511.7 million). The outcome within the second half of the monetary 12 months was EUR 580.9 million, or EUR 7.42 per share.
KBC Ancora distributed a gross interim dividend of EUR 2.30 on 9 December 2021 and EUR 6.49 per share on 9 June 2022; as introduced, it won’t distribute a ultimate dividend.

The Board of Administrators of Almancora Société de gestion, statutory director of KBC Ancora NV, hereby pronounces the annual figures for the monetary 12 months ended 30 June 2022, topic to the approval of the Basic Assembly of KBC Ancora Shareholders to be held on 28 October 2022.

Abridged monetary summaries and notes¹

Outcomes for the monetary 12 months

* No devices have been issued which may result in dilution.        
** On 30 June 2022 the variety of shares with dividend entitlement stood at 78,184,128, being the variety of shares in challenge (78,301,314) much less the variety of repurchased shares (117,186).

Story continues

KBC Ancora recorded a revenue of EUR 804.Eight million within the monetary 12 months 2021/2022, in contrast with a revenue of EUR 529.7 million within the earlier monetary 12 months. Nonetheless, the recurring outcome within the earlier monetary 12 months was solely EUR 18.Zero million, in view of the substantial non-recurring outcome within the monetary 12 months 2020/2021 as a result of full reversal of the remaining impairments on the collaborating curiosity in KBC Group, amounting to EUR 511.7 million.
Earnings (EUR 821.7 million) consisted nearly totally of dividend obtained on the collaborating curiosity in KBC Group (EUR 821.7 million). Bills (EUR 16.9 million) consisted primarily of the standard working prices (EUR 3.Three million) and monetary costs (EUR 13.6 million).

Developments within the final six months of the monetary 12 months 2021/2022

Collaborating curiosity in KBC Group, internet debt place and internet asset worth

KBC Ancora didn’t purchase or promote any KBC Group shares within the second half of the monetary 12 months, and holds 77,516,380 KBC Group shares.

Underneath the share repurchase programme launched on 10 June 2022, within the second half of the monetary 12 months KBC Ancora bought 117,186 KBC Ancora shares on the inventory change for a complete quantity of EUR 4.Three million. The reserves wanted to fund the repurchase programme have been accrued as a part of the dividend coverage in power since August 2019.

The online asset worth of the KBC Ancora share corresponds to 0.991 occasions² the value of the KBC Group share, much less the web debt³ per share. KBC Ancora’s internet debt place as at 30 June 2022 stood at EUR 2.15 per share.

Primarily based on the value of the KBC Group share on 30 June 2022 (EUR 53.54), the web asset worth of 1 KBC Ancora share amounted to EUR 50.93, and the KBC Ancora share (EUR 35.02) was buying and selling at a reduction of 31.2% to its internet asset worth.

The next charts illustrate the actions within the worth of the KBC Group and KBC Ancora shares and the low cost of the KBC Ancora share to its internet asset worth.

End result for the second half of the monetary 12 months 2021/2022

KBC Ancora recorded a revenue after tax of EUR 580.9 million within the second half of the 12 months below assessment, or EUR 7.42 per share. In the identical interval within the earlier monetary 12 months, KBC Ancora recorded a revenue of EUR 537.Eight million.

Earnings amounted to EUR 589.1 million.

KBC Ancora obtained dividend revenue totalling EUR 589.1 million on its collaborating curiosity in KBC Group.
In the identical interval within the earlier monetary 12 months, KBC Ancora obtained dividends totalling EUR 34.1 million from its collaborating curiosity in KBC Group, along with non-recurring revenue of EUR 511.7 million as a result of full reversal of the remaining impairments on the KBC Group shares held in portfolio.

Bills within the second half-year (EUR 8.2 million) have been EUR 0.1 million larger than a 12 months earlier, and have been principally decided by the next elements:

• The standard working prices amounted to EUR 1.5 million, EUR 0.Three million larger than in the identical interval within the earlier monetary 12 months. Of this complete, EUR 0.9 million pertains to prices incurred throughout the cost-sharing settlement with Cera. Different bills consisted amongst different issues of prices related to the dividend distribution (which have been considerably larger in view of the considerably elevated dividend), administration prices (statutory director) and itemizing charges.

• Value of debt amounted to EUR 6.7 million, EUR 0.Three million lower than in the identical interval within the earlier monetary 12 months. Curiosity costs have been EUR 0.7 million decrease, whereas KBC Ancora paid detrimental curiosity costs amounting to EUR 0.5 million.

Steadiness sheet as at 30 June 2022

Whole belongings stood at EUR 3.68 billion on 30 June 2022, up EUR 15.9 million on the earlier monetary 12 months.
The variety of KBC Group shares in portfolio remained unchanged within the 12 months below assessment. On the steadiness sheet date, KBC Ancora held a complete of 77,516,380 KBC Group shares, with a ebook worth of EUR 46.44 per share (the historic ebook worth). The inventory market worth of the KBC Group share on the steadiness sheet date was EUR 57.64; the IFRS fairness worth stood at EUR 45.Zero per share on 30 June 2022.

Present belongings rose by EUR 15.9 million in contrast with a 12 months earlier, to EUR 80.Three million. Money at financial institution and in hand elevated by EUR 11.6 million, whereas present investments elevated by EUR 4.Three million as a result of repurchase of shares in the course of the 12 months below assessment. Because of the share repurchase programme, an quantity of EUR 4.Three million was additionally transferred from the out there reserves to an unavailable reserve for treasury shares.

Debt (totalling EUR 243.9 million, together with monetary debt of EUR 243 million) lowered by EUR 100.6 million in contrast with the place as on the steadiness sheet date within the earlier monetary 12 months, largely as a result of reimbursement in stuffed with loans totalling EUR 100 million which matured in Might 2022.

After addition of the outcome carried ahead from the earlier monetary 12 months (EUR 0.Four million), the outcome out there for appropriation amounted to EUR 805.2 million. The next appropriation of revenue will probably be proposed to the Basic Assembly of Shareholders to be held on 28 October 2022:

• addition of EUR 40.2 million (5% of the revenue for the monetary 12 months) to the authorized reserve;

• addition of EUR 76.5 million to the out there reserves; This quantity represents 10% of the recurring outcome (after formation of the authorized reserve);

• dividend amounting to a complete of EUR 688.Three million. This quantity represents each the interim dividend of EUR 2.30 per share which was distributed on 9 December 2021, and the interim dividend of EUR 6.49 per share which was distributed to shareholders on 9 June 2022. It represents 90% of the recurring outcome out there for distribution, after formation of the authorized reserve;

• carry-forward of the steadiness of EUR 0.2 million, or EUR 0.003 per share, to the subsequent monetary 12 months.

Notes on anticipated developments within the monetary 12 months 2022/2023

Barring unexpected circumstances, KBC Ancora will full the continued share repurchase programme in the course of the course of the monetary 12 months 2022/2023. This means an extra funding of EUR 45.7 million.

Prices throughout the cost-sharing settlement with Cera are anticipated to quantity to roughly EUR 2.Zero million. Whole curiosity costs for the monetary 12 months 2022/2023 are estimated at roughly EUR 9.2 million. Different working prices are prone to be round EUR 1.Three million.

In its press launch of 11 August 2022, KBC Group reaffirmed its intention, according to its dividend coverage, to distribute an interim dividend of EUR 1.00 per share in November 2022, as an advance cost on the whole dividend in respect of the monetary 12 months 2022. Barring distinctive or unexpected circumstances, KBC Group’s dividend coverage is to goal for a dividend payout ratio (together with the coupon on the excellent Extra Tier-1 devices) of at the very least 50% of the consolidated revenue.

Primarily based on the projected revenue and expenditure as highlighted above, it’s probably that KBC Ancora will shut the monetary 12 months 2022/2023 with a constructive recurring outcome out there for appropriation and can have the ability to distribute an interim dividend in June 2023, according to its dividend coverage.

Info on the exterior audit of the annual accounting information

The audit procedures by KPMG Réviseurs d’entreprises, represented by Kenneth Vermeire, had not but been totally accomplished on the time of writing. Extra particularly, the ESEF-related XHTML annual report doc had but to be generated and audited by the auditor. As on the date of this press launch, no findings had emerged which might result in any qualification of the audit opinion. This draft press launch was additionally reviewed by the auditor and comprises no apparent inconsistencies in contrast with the monetary statements.

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KBC Ancora is a listed firm which holds 18.6% of the shares in KBC Group and which along with Cera, MRBB and the Different Everlasting Shareholders is answerable for the shareholder stability and additional improvement of the KBC group. As core shareholders of KBC Group, these events have signed a shareholder settlement to this impact.

Monetary calendar:
27 September 2022        Annual Report 2021/2022 out there and see of Annual Basic Assembly of Shareholders
28 October 2022        Annual Basic Assembly of Shareholders
27 January 2023        Interim monetary report (1H)
25 August 2023        Annual press launch for the monetary 12 months 2022/2023

This press launch is on the market in Dutch, French and English on the web site www.kbcancora.be.
KBC Ancora Investor Relations & Press contact: Jan Bergmans
Tel.: +32 (0)16 27 96 72
E-mail: jan.bergmans@kbcancora.be or mailbox@kbcancora.be

¹         KBC Ancora’s reporting is predicated on Belgian GAAP.
²         Variety of KBC Group shares in portfolio / (variety of shares in challenge – variety of repurchased shares) = 77,516,380 / (78,301,314 – 117,186) = 0.991.
³         Internet debt is outlined right here as complete liabilities much less complete belongings excluding monetary fastened belongings and excluding repurchased shares.

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