Ackermans & van Haaren sees net profit stabilizing

(ABM FN) Ackermans & van Haaren posted a net profit in the past quarter that was comparable to the third quarter of 2019. The Belgian holding reported this on Monday in a qualitative quarterly update.

“After a first half year in which society as a whole was confronted with the shock of the corona pandemic, economic activity continued to recover in the third quarter,” said CEO Jan Suykens in a commentary.

The CEO added that Ackermans is therefore well on track to fulfill the previously formulated expectation. Ackermans expects a clear improvement in the second half of the year compared to the first half of the year.

The net cash position amounted to 193.5 million euros at the end of September 2020, compared to 201.0 million euros at the end of June 2020

Since the beginning of 2020, the holding has invested 75 million euros in strengthening existing participations and new participations.

Ackermans & van Haaren increased its interest in CFE to 62.06 percent. CFE posted lower sales in the first nine months of 2020, but saw it recover in the third quarter.

Leasinvest Real Estate, in which the holding has an interest of 30.01 percent, recorded a net loss of 9.4 million euros in the first nine months, compared to a net profit of 39.6 million euros in the same period a year earlier.

The total palm oil production of Sipef, in which Ackermans & van Haaren holds a 34.68 percent interest, rose by 5.3 percent in the first nine months of 2020.

Delen Private Bank achieved “excellent” results. There was also a good inflow of new money. Bank J.Van Breda also showed strong presentations, according to Ackermans.

ABM Financial News; [email protected]; Redactie: +31(0)20 26 28 999.

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