HAL Trust (HAL) Q3 2024 TU earnings summary

Executive summary

• Net asset value rose by €1.7 billion in the first nine months of 2024, reaching €14,990 million (€165.95 per share) as of September 30, 2024.

• Value of quoted minority interests and liquid portfolio increased by €200 million from September 30 to November 22, 2024.

Financial highlights

• Revenues from unquoted companies for the first nine months of 2024 were €7,443 million, up 2.5% year-over-year.

• Operating income from unquoted companies rose to €879 million, up €192 million year-over-year.

• Net income from unquoted companies includes a €75 million impairment charge related to GreenV.

Segment performance

• Quoted minority interests' market value increased to €4.1 billion at September 2024 from €3.1 billion at end-2023.

• Liquid portfolio stood at €2.6 billion, down from €2.9 billion at end-2023; 89% in fixed income, 11% in equities.