Luxempart (LXMPR) H1 2025 earnings summary

Executive summary

• Net Asset Value (NAV) rose to €2,327m as of 30 June 2025, up 0.7% from year-end 2024; total return including dividend was 2.7% for H1 2025.

• Four-year IRR reached 7.1%, outperforming the MSCI Europe Mid Cap Net Return Index's 5.0% over the same period.

• Portfolio is diversified across direct investments (64% of NAV) and investment funds (27% of NAV), with a focus on resilient sectors like healthcare, financial services, and business services.

Financial highlights

• Profit for H1 2025 was €62.9m, up from €17.2m in H1 2024.

• Dividend of €2.33 per share paid in May 2025, totaling €46.9m, representing a 3.3% yield.

• Financial liquidity stood at €203m (8.7% of NAV), with total available resources exceeding €400m including credit facilities.

• Stock price at 30 June 2025 was €64.50, down 8.5% from year-end 2024.

Outlook and guidance

• Cautious optimism for H2 2025, with signs of stabilization and early recovery in some portfolio sectors.

• Investment pipeline remains solid, with continued focus on resilient sectors and high-quality fund managers.

• Targeting €450m in new fund commitments over the next three years, with a 2/3 allocation to US managers.