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Peugeot Invest (PEUG) investor relations material
Peugeot Invest H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved an 8.5% net return (excluding FX), creating nearly €240 million in value, with positive FX adding €50 million, but offset by a sharp decline in Stellantis, now only 20% of gross assets.
Portfolio now consists of approximately 80% investments, up from 10% in 2002, reflecting a strategic shift and increased exposure to B2B technologies and North America.
Major portfolio rotation: €330 million in disposals (LISI, Immobilière Dassault), €209 million invested in new opportunities (Totalmobile-Solvares, Mérieux NutriSciences), and robust performance from tech assets, notably SpaceX.
Net Asset Value (NAV) at €3,608 million (€144.8 per share), down 12.5% from year-end 2025, reflecting market movements and dividend payments.
Net profit group share reached €135.8 million, supported by private equity revaluations and positive Forex impact.
Financial highlights
NAV per share at June 30, 2026, was €144.8, down 12.5% year-over-year, mainly due to Stellantis share price dropping 47%.
Consolidated profit for H1 2026: €135.8 million, up from €121.5 million in H1 2025.
Investment funds, especially Valor Equity (SpaceX), drove strong growth; SpaceX IPO led to fund value exceeding €200 million, a 20x multiple.
Operating cash flow positive in H1, aided by €20 million tax refund and despite no Stellantis dividend.
Dividend maintained at €3.25 per share; 10-year CAGR of 7%.
Outlook and guidance
Portfolio rotation and selective capital deployment to continue, focusing on four core sectors: business services, healthcare, technology, and financial services.
Full-year guidance maintained for Stellantis and Forvia, with expectations of mid-single-digit revenue growth and improved, though still negative, industrial free cash flow.
Ample liquidity and strong balance sheet position the group to pursue new investment opportunities.
- NAV per share dropped 5.6% despite strong investment returns and portfolio rotation.PEUG
H2 2025 - NAV per share dropped 11.8% to €157.9, with major disposals and strong liquidity.PEUG
H1 2025 - NAV per share fell 3.7% to €226.7, with €437m in disposals and lower net profit.PEUG
H1 2024 - NAV per share fell 22% to €182.7, but net income and dividend stability were maintained.PEUG
H2 2024
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