2017 at a glance

  • Good results reported by AvH’s participations, coupled with capital gains, boost AvH’s profit to 302.5 million euros (+35%).
     
  • DEME equalled its good performance of 2016, while CFE confirmed with a solid increase in profit. The disappointing results of A.A. Van Laere and a less successful year for Rent-A-Port explain the decrease in contribution from ‘Marine Engineering & Contracting’ compared with last year.
     
  • Private Banking’ reported a record year. Both in terms of assets under management and net profit, Delen Private Bank reached new all-time highs. Bank J.Van Breda & C° managed to slightly increase its profit in a challenging market environment.
     
  • All the group companies in ‘Real Estate & Senior Care’ equalled or increased their results in 2017. With a total contribution of 54.3 million euros to the group profit, they surpassed their strong performance of 2016.
     
  • Energy & Resources’ nearly doubled its contribution to the group profit, driven mostly by SIPEF, which in 2017 reported far better production volumes which - in combination with higher market prices for palm oil - lay the foundations for an increasing operating result. The successful expansion of its plantations also led to the recognition of a (non-recurring) remeasurement gain, in which AvH’s share amounts to 19.8 million euros.
     
  • AvH & Growth Capital’ made a limited contribution to the group result. AvH continues to actively look out for new investment opportunities in 2018.

  • In 2017, AvH sold its holdings in Nationale Maatschappij der Pijpleidingen (AvH 75%), in Ogeda (AvH 3%) and in Groupe Flo (AvH 23%). On balance, net capital gains/losses in 2017 resulted in a profit of 17.6 million euros, compared with a substantial loss of 26.8 million euros in 2016.


Oogopslag 1-en

 


Breakdown of the consolidated net result (part of the group)

(€ mio)20172016 
.
 Marine Engineering & Contracting
90.6 105.2
.
 Private Banking
113.9 98.5
.
 Real Estate & Senior Care
54.3 46.2
.
 Energy & Resources
18.2 9.2
Contribution from core segments 277.0 259.1
Growth Capital -1.3 2.7
AvH & subholdings -10.6 -10.8
Net capital gains(losses) / impairments 17.6 -26.8
Result before exceptional results 282.7 224.2
Exceptional results 19.8 -
Consolidated net result 302.5 224.2
 

 

Key figures - consolidated balance sheet

(€ mio)31.12.201731.12.2016
Net equity
(part of the group - before allocation of profit)
2,972.2 2,783.1
Net cash position of AvH & subholdings 80.2 68.3

 

Oogopslag 2-en