KBC Ancora (KBCA) H2 2024 earnings summary

Executive summary

• Recorded a profit of EUR 368.3 million for FY 2023/2024, up from EUR 298.9 million year-over-year.

• Profit per share reached EUR 4.78, compared to EUR 3.82 in the previous year.

• Distributed a gross interim dividend of EUR 4.09 per share in June 2024; no final dividend will be paid.

• Maintained a stable holding of 77,516,380 KBC Group shares.

Financial highlights

• Total income was EUR 378.3 million, mainly from dividends (EUR 376.0 million) and interest (EUR 2.3 million).

• Expenses totaled EUR 10.0 million, with operating costs at EUR 3.2 million and interest charges at EUR 6.8 million.

• Net asset value per share was EUR 64.82 as of 30 June 2024, with shares trading at a 32.9% discount.

• Net debt position stood at EUR 1.51 per share.

Outlook and guidance

• Anticipates positive results for FY 2024/2025, with interim dividend distribution expected in June 2025.

• Projected costs: EUR 2.5 million for cost-sharing, EUR 4.5 million in interest, and EUR 1.0 million in other operating costs.

• KBC Group plans an interim dividend of EUR 1.00 per share in November 2024.