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Today TINC publishes its annual report - TINC continues to grow: increase of the portfolio size and annual results
12/09/2018


HIGHLIGHTS
 

  • The net profit for the financial year 2017-2018 amounts to € 19,3 million (or € 0,87 per share), an increase of approximately 80% compared to the previous financial year, as a result of predominantly the growth of the portfolio and some non-recurring items. The operational result of the financial year 2017-2018 amounts to € 17 million (or € 0,77 per share), an increase of approximately 56% compared to the previous financial year;
     

  • The Net Asset Value (NAV) amounts to € 325,1 million or € 11,92 per share (vs € 238,8 million or € 11,67 per share on June 30, 2017 prior to payment of a gross dividend in October 2017 of € 8,3 million);
     

  • The investment portfolio includes 17 participations located in Belgium, the Netherlands and Ireland with a fair market value of € 243,4 million, an increase of 37,4% compared to the previous financial year;
     

  • TINC invested in total € 65,5 million in its existing and new additional participations including Glasdraad (the Neth.) and Réseau Abilis (B). TINC further acquired an additional participation in the A11 highway (B);
     

  • At the end of the financial year, the portfolio consists of 40% PPP (based on availability fees), 39% renewable energy and 21% demand-based infrastructure. The valuation of the portfolio is based on a weighted average discount rate of 8,26% with individual discount rates within a range of 6,79% to 10%;
     

  • At the end of the financial year, TINC has  41,8 million outstanding contractual investment commitments in respect of existing participations and for the acquisition of new participations. Through the combination of the existing portfolio and the contractual investment commitments, the portfolio of TINC will grow over time to € 285 million;
     

  • In March 2018, TINC successfully increased its share capital for an amount of € 77,7 million. At the end of the financial year, TINC has approximately € 75,7 million cash available to invest in the growth of the portfolio;
     

  • In October, a distribution will be proposed for approval by the shareholders of € 13,4 million or € 0,49 per share, of which € 0,46 per share will be distributed under the form of a capital reduction (on which no withholding tax is due) and € 0,03 per share under the form of a dividend, in accordance with new legislation. This distribution corresponds to a gross return of 4,08% and a net return (after withholding tax) of 4,01% on the share price of € 12,00 at the end of the financial year;
     

  • Mrs. Elvira Haezendonck shall be appointed as a third independent director of TINC, as of 17 October 2018;
  • The annual report for the financial year 2017-2018 will be available on the website of TINC (www.tincinvest.com) (as well as, as from 17 September, the documents for the annual and extraordinary shareholders meeting of 17 October 2018).


Read the full press release of TINC here
For further information about TINC, please visit www.tincinvest.com