Regulated information, Leuven,
Interim Financial Report 2021/2022
KBC Ancora recorded a profit of
Abridged financial summaries and notes1
Results for the first half of financial year 2021/2022
1H fin. year (x | 2021/2022 per share (in EUR) | 1H fin. year (x | 2020/2021 per share (in EUR) | |
Income | 232,576 | 2.97 | 34 | 0.00 |
Dividends from financial fixed assets | 232,549 | 2.97 | 0 | 0.00 |
Other income | 27 | 0.00 | 34 | 0.00 |
Expenses | -8,667 | -0.11 | -8,115 | -0.10 |
Cost of debt | -6,934 | -0.09 | -6,884 | -0.09 |
Services and sundry goods | -1,332 | -0.02 | -1,230 | -0.02 |
Other costs | -400 | -0.01 | -1 | -0.00 |
Result after taxes | 223,910 | 2.86 | -8,081 | -0.10 |
Distribution of interim dividend | 180,093 | 2.30 | 0 | 0.00 |
Number of shares in issue* | 78,301,314 | 78,301,314 |
* No instruments have been issued which could lead to dilution.
Income consisted principally of dividend received on the participating interest in KBC Group (
On
Balance sheet as at
(x | * | |
BALANCE SHEET TOTAL | 3,715,036 | 3,664,327 |
Assets | ||
Fixed assets | 3,599,979 | 3,599,979 |
Financial fixed assets | 3,599,979 | 3,599,979 |
Current assets | 115,058 | 64,348 |
Liabilities | ||
Equity | 3,363,575 | 3,319,759 |
Issued capital | 2,021,871 | 2,021,871 |
Legal reserve | 101,659 | 101,659 |
Other unavailable reserves | 1,136,257 | 1,136,257 |
Available reserves | 59,588 | 59,588 |
Profit (loss) carried forward | 383 | 383 |
Result for the period | 223,910 | 0 |
Distribution of interim dividend | -180,093 | 0 |
Creditors | 351,461 | 344,568 |
Amounts falling due after more than one year | 243,000 | 243,000 |
Amounts falling due within one year | 100,209 | 100,244 |
Accrued expense and deferred income | 8,252 | 1,324 |
* The balance sheet as at
The balance sheet total at
The number of shares held by
Equity rose by
Interim report on the first six months of the current financial year 2021/2022
Notes on the first half of the current financial year 2021/2022
Results for the first six months of the financial year 2021/2022
This result was influenced principally by the following factors:
- an interim dividend of
EUR 1.00 per KBC Group share distributed in respect of financial year 2021, and an extra dividend ofEUR 2.00 per KBC Group share in respect of financial year 2020 (together totallingEUR 232.5 million ). In the same period in the previous financial year KBC Group, following the recommendation of theEuropean Central Bank (ECB), did not distribute an interim dividend. - interest charges amounting to
EUR 6.9 million , in line with the same period in the previous financial year. - operating expenses amounting to
EUR 1.7 million ,EUR 0.5 million more than in the same period in the previous financial year. The operating expenses consisted primarily of costs incurred under the cost-sharing agreement with Cera (EUR 0.9 million ). In addition, there were the usual costs such as listing fees and management expenses. There was also a tax liability ofEUR 0.4 million on the securities accounts in the first half of the financial year.
Interim dividend of
On
Participating interest in KBC Group, net debt position and net asset value
The number of KBC Group shares in portfolio remained unchanged during the past six months at 77,516,380.
KBC Ancora’s net debt amounted to
The net asset value of one
Based on the closing price of the KBC Group share on
The following charts illustrate the movements in the price of the KBC Group and
Trend in KBC Group and (January – | Trend in discount of KBC Ancora share to its net asset value (January – |
Appointments at the statutory director, Almancora Société de gestion
On
Philippe Vanclooster was appointed as a new independent director on the Board of Directors of Almancora Société de gestion, succeeding
Principal risks and uncertainties in the remaining months of the financial year
Certain risk factors could have an impact on the value of the assets held by
KBC Group reported a net result of
Partly dependent on the decisions taken by KBC Group regarding the distribution in the first half of 2022 of a final dividend in respect of financial year 2021, the Board of Directors of Almancora Société de gestion, statutory director of
During the second half of financial year 2021/2022,
Declaration by the responsible individuals
“We, the members of the Board of Directors of Almancora Société de gestion, statutory director of
a) the abridged financial summaries, drawn up in accordance with the applicable standards for financial statements, present a true and fair picture of the capital position, financial position and results of
b) the interim financial report presents a true and fair view of the key events and principal transactions with affiliated parties during the first six months of the current financial year and of their impact on the abridged financial summaries, as well as a description of the principal risks and uncertainties during the remaining months of the financial year.”
Information on the external audit
The statutory auditor has reviewed the abridged interim financial information and accompanying notes. The auditor's report is appended to this interim report.
---------------------------------
Financial calendar:
28 October 2022 General Meeting of Shareholders
This press release is available in Dutch, French and English on the website www.kbcancora.be.
KBC Ancora Investor Relations & Press contact:
Tel.: +32 (0)16 279672
E-mail: jan.bergmans@kbcancora.be or mailbox@kbcancora.be
Appendix: Balance sheet and profit and loss account with comparative figures
(x | * | |
BALANCE SHEET TOTAL | 3,715,036 | 3,664,327 |
Assets | ||
Fixed assets | 3,599,979 | 3,599,979 |
Financial fixed assets | 3,599,979 | 3,599,979 |
Companies with which there is a participatory relationship | 3,599,979 | 3,599,979 |
Participating interests | 3,599,979 | 3,599,979 |
Current assets | 115,058 | 64,348 |
Receivables due within one year | 7 | 5 |
Trade receivables | 7 | 5 |
Cash at bank and in hand | 115,051 | 64,337 |
Accrued income and deferred expense | 0 | 6 |
Liabilities | ||
Equity | 3,363,575 | 3,319,759 |
Contribution | 2,021,871 | 2,021,871 |
Issued capital | 2,021,871 | 2,021,871 |
Reserves | 1,297,505 | 1,297,505 |
Unavailable reserves | 1,237,916 | 1,237,916 |
Legal reserve | 101,659 | 101,659 |
Other unavailable reserves | 1,136,257 | 1,136,257 |
Available reserves | 59,588 | 59,588 |
Profit (loss) carried forward | 383 | 383 |
Profit/loss for the period | 223,910 | n/a |
Distribution of interim dividend | -180,093 | 0 |
Creditors | 351,461 | 344,568 |
Amounts falling due after more than one year | 243,000 | 243,000 |
Financial liabilities | 243,000 | 243,000 |
Credit institutions | 243,000 | 243,000 |
Amounts falling due within one year | 100,209 | 100,244 |
Financial liabilities | 100,000 | 100,000 |
Credit institutions | 100,000 | 100,000 |
Trade creditors | 142 | 168 |
Suppliers | 142 | 168 |
Other creditors | 67 | 76 |
Accrued expense and deferred income | 8,252 | 1,324 |
* The balance sheet as at
(x | ||
Operating income | 27 | 34 |
Other operating income | 27 | 34 |
Operating costs | 1,733 | 1,231 |
Services and sundry goods | 1,332 | 1,230 |
Other operating costs | 400 | 1 |
Operating profit (Operating loss) | -1,705 | -1,197 |
Financial income | 232,549 | 0 |
Recurring financial income | 232,549 | 0 |
Income from financial fixed assets | 232,549 | 0 |
Financial expenses | 6,934 | 6,884 |
Cost of debt | 6,934 | 6,884 |
Other financial expenses | 0 | 0 |
Profit (loss) before tax | 223,910 | -8,081 |
Profit (loss) after tax | 223,910 | -8,081 |
Statutory auditor's report to the board of directors of KBC Ancora NV on the review of the condensed interim financial information as at
FREE TRANSLATION OF A REPORT ORIGINALLY PREPARED IN DUTCH
Introduction
We have reviewed the accompanying interim financial report 2021/2022, containing the condensed balance sheet of
Scope of Review
We conducted our review in accordance with the International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of condensed interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed interim financial information as at
Zaventem,
Statutory Auditor
represented by
Bedrijfsrevisor / Réviseur d’Entreprises
1 KBC Ancora's reporting is based on Belgian GAAP.
See Appendix for the balance sheet and profit and loss account.
Attachment
- KBCA PB 20220128 E
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