Reinet Investments (REINI) Q1 2027 TU earnings summary

Executive summary

• Net asset value (NAV) at 30 June 2026 was €6.6 billion, reflecting a compound growth rate of 8.1% per annum in euro terms since March 2009, including dividends paid.

• NAV decreased by €6 million (0.1%) from 31 March 2026, mainly due to share buybacks and related provisions, partially offset by gains in certain investments and currency effects.

• NAV per share at 30 June 2026 was €36.39, up from €36.31 at 31 March 2026.

• Sixth share buyback programme underway, with 559,649 shares repurchased for €14 million by quarter-end.

Financial highlights

• NAV per share increased to €36.39 from €36.31 sequentially.

• Adjusted NAV per share (excluding future buyback liability) was €36.73.

• Share price on Luxembourg Stock Exchange fell 10.9% in the quarter to €24.60.

• Total shareholder return since inception is 8.0% per annum; NAV growth including dividends is 8.1% compounded since March 2009.

Outlook and guidance

• Ongoing geopolitical tensions and economic risks contribute to market volatility and uncertainty, with inflation risk persisting.

• No direct exposure to Russia, Ukraine, or the Middle East; no significant direct impacts from interest rate or inflation changes.

• Future valuations will consider new impacts from global events and market conditions.