PB Holding Reports €2.6m Net Loss in FY23

PB Holding disclosed its FY23 financial results, highlighting a net loss of €2.6 million. The company, which primarily gains revenue through dividends from its 5.3% share in Bovemij, a mobility sector insurer, experienced a significant decrease in dividend income which contributed to this year's losses. In FY22, Bovemij's dividend to PB Holding amounted to €0.5 million, compared to just €0.3 million in FY23 due to its 60th anniversary.

The reduced dividend, alongside a €2.6 million impairment due to Bovemij's underperformance, led to PB Holding reporting a total investment loss of €2.3 million for the year. Although operational and financial expenditures were relatively stable at €0.3 million, they further strained finances, culminating in the net loss. Despite this, PB Holding maintains a net cash position of €0.6 million, sufficient to cover anticipated expenses for the next two to three years without additional dividend income.