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HAL Trust (HAL) investor relations material
HAL Trust AGM 2026 presentation summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Key financial results
Net asset value increased from €15,501 million in 2024 to €16,418 million in 2025, reaching €17,604 million in Q1 2026.
Net income rose from €1,210 million in 2024 to €1,597 million in 2025.
Investments totaled €347 million in 2025, with divestments at €366 million.
Net asset value per share grew from €171.61 in 2024 to €181.84 in 2025, and €194.97 in Q1 2026.
Proposed cash dividend per share is €3.50 for 2025.
Investments and divestments
Major investments included increased stakes in Koppert, Siltronic, Technip Energies, and TKH, plus real estate projects in Seattle.
Announced acquisition of Dutch activities of VolkerWessels, subject to conditions.
Divestments included Boskalis, SmitLamnalco Australia & PNG, Atlas NextWave, and Rotter y Krauss, with significant book profits.
Segment results
Unquoted interests contributed €1,250 million in operating income and €8,431 million in NAV (51%).
Quoted interests contributed €778 million to net income and €4,983 million in NAV (30%).
Real estate and liquid portfolio contributed €269 million and €2,613 million in NAV, respectively.
- Net asset value increased to €17.6 billion, with strong gains in quoted interests and divestments.HAL
Q1 202612 May 2026 - Net income and net asset value surged in 2025, supported by robust segment and portfolio gains.HAL
Q4 202527 Mar 2026 - Net asset value increased by €1.2 billion, with strong growth in unquoted company performance.HAL
Q3 202526 Nov 2025 - Net income surged to €1,024 million, driven by strong quoted and unquoted segment performance.HAL
Q2 202529 Aug 2025 - Net asset value rose €1.7 billion, driven by operating gains and higher quoted interests.HAL
Q3 2024 TU13 Jun 2025 - Net income reached €510 million in H1 2024, with NAV up €1.2 billion to €14.5 billion.HAL
H1 202413 Jun 2025 - Net asset value increased to €15.6 billion, with steady growth in core holdings.HAL
Q1 20255 Jun 2025 - Net income up 21% to €1,210 million, with asset value and dividend both increasing.HAL
H2 20245 Jun 2025
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