Brederode (BREB) Q1 2026 earnings summary

Executive summary

• Reported a net loss of €29.51 million for the first quarter of 2026, driven by listed securities portfolio losses amid AI sector volatility and Middle East conflict uncertainties.

• Shareholders' equity per share decreased 0.7% year-to-date to €143.23.

• Private Equity portfolio generated a gain of €13.10 million, while listed securities posted a loss of €42.29 million.

Financial highlights

• Total shareholders' equity stood at €4,197.41 million as of March 31, 2026.

• Return on equity for the period was -0.7%.

• Net cash position at period end was €29.73 million, with €350 million in confirmed credit lines.

• Amounts distributed to shareholders totaled €40.15 million.

Outlook and guidance

• The second quarter begins amid persistent global uncertainty, especially regarding US trade policy and Middle East conflict impacts on inflation and rates.

• Financial markets are at record levels, benefiting some listed portfolio positions due to AI investment trends.

• Private Equity outlook remains cautious, with M&A activity subdued for large companies.

• The Board reaffirms a distribution policy aligned with balance sheet strength and long-term value creation.