Reinet Investments SCA Announces FY2024 Results and Dividend Proposal

Reinet Investments SCA has published its consolidated audited financial results for the fiscal year ending March 31, 2024, showcasing a net asset value (NAV) increase to €6.2 billion from €5.72 billion in the previous year. This 8.1% growth equates to a net asset value per share rising to €34.02 from €31.46 in the prior year. The company's compounded growth rate since March 2009 stands at 8.8% per annum.

Key financial highlights include commitments to new and existing investments totaling €61 million, with total fund investments of €128 million. Reinet collected dividends of €130 million from British American Tobacco (BAT) and an inaugural dividend of €57 million from Pension Insurance Corporation Group Limited. A proposed Reinet dividend of €0.35 per share is scheduled for approval at the 2024 annual general meeting, reflecting a 16.67% increase over the previous year.

Business developments note Pension Insurance Corporation's adjusted own funds increased to £6.3 billion, driven by new business premiums surging to £6.9 billion. Reinet's investment strategy includes significant activities in private equity with Trilantic Capital Partners, and TruArc Partners, among others.

In his commentary, Chairman Johann Rupert acknowledged macroeconomic challenges such as inflation and geopolitical tensions but emphasized the company's strong liquidity position and commitment to sustainable investment practices.