Gimv : Summary 2021-2022

Overview 2021-2022

Guiding companies

Benefitting society

Gimv at a glance

Overview at 31-03-2022

1.45	59
BILLION EUROS	PORTFOLIO
COMPANIES
IN PORTFOLIO

19,000	3.1
PROFESSIONALS WORKING	BILLION EUROS TURNOVER
IN PORTFOLIO COMPANIES	BY PORTFOLIO COMPANIES

Key figures

Consolidated financial statements (in 000 EUR)	2021-2022	2020-2021	2019-2020	2018-2019	2017-2018
Equity	1,413,034	1,274,280	1,104,924	1,321,252	1,274,252
Portfolio		1,448,547	1,232,929	1,016,984	1,081,926	960,369
Cash and cash equivalents		377,828	517,480	368,041	276,699	380,452
Portfolio result		251,348	274,815	-111,959	155,259	150,400
Portfolio return1		20.4%	27.0%	-10.3%	16.2%	15.6%
Net profit		174,285	205,724	-151,573	112,079	107,064
Total gross dividend		65,073	63,567	63,567	63,567	63,567
Investments (own balance sheet)		193,830	211,129	204,885	222,208	246,209
Divestments (own balance sheet)		218,920	265,510	179,404	196,205	371,145
Number of employees		90	89	91	91	92
Total number of shares		26,654,508	26,047,134	25,426,672	25,426,672	25,426,672
Key figures per share (in EUR)
Equity		53.0	49.0	43.5	52.0	50.1
Net profit		6.59	7.96	-5.96	4.41	4.21
Gross dividend		2.5	2.5	2.5	2.5	2.5

1 Realised capital gains + unrealised capital gains on financial fixed assets + dividends + interests / portfolio at start of financial year.

Portfolio evolution over 5 years
(2018-2022, in EUR millions)
				1,449
	1,082		1,233
960	1,017
2018	2019	2020	2021	2022

Portfolio return

			27.0%
15.6%	16.2%			20.4%
2017-18	2018-19	2019-20	2020-21	2021-22
long term objective		-10.3%

Active shareholder

For more than forty years, Gimv has been investing in innovation and entrepreneurship. Our flexible approach is based on our solid balance sheet, patient capital and long-term view. Our devoted and specialised teams are working closely with growth companies on innovative solutions for tomorrow's society.

The more than fifty companies in which Gimv participates today operate in various sectors. Our five investment platforms - Consumer, Healthcare, Life Sciences, Smart Industries and Sustainable Cities - set the stage for significant progress and for pioneering innovations. Our companies are providing answers to the issues of tomorrow: sustainability, ageing, healthcare, urbanisation, globalisation, ecological food, renewable energy and more. They are daring to look further ahead and set the bar high, keen to transform their sectors with their products and services. They believe that major social impact goes hand in hand with sustainable growth.

Value creation around five investment platforms

"As an investment company, we are more than just a provider of capital: we also want to be an active shareholder, supporting our portfolio companies at the times that really matter. Besides an active role as shareholder, we also take our responsibility as a sustainable investor. In short, we invest in companies that work towards

a better economy and a more sustainable society."

Consumer	#14	Life Sciences	#11		Smart #11
221 mio		110 mio			Industries
			304 mio
Healthcare			#13
359 mio
Sustainable Cities			#10
321 mio

EUR millions per platformportfolio, # number of investments

Investmentfocus

An experienced and active shareholder

Gimv is an active and committed shareholder. In five strategic investment platforms - Consumer, Healthcare, Life Sciences, Smart Industries and Sustainable Cities - we join forces with companies which present strong growth potential based on solid, differentiated market positions. As an investment company, we join hands, as 'fellow-travellers', with entrepreneurs and their teams to grow their businesses, sharing their ambitions and assisting them in developing into leading companies: companies that deliver strong results based on sustainable growth and high-quality,innovation-based products and services. We want all our portfolio companies to grow into top employers who create attractive jobs with attention to diversity and equal opportunities. Far-reaching digitization and a conscious vision of the sustainable impact of their activities need to distinguish our companies from their competitors.

Investment criteria

• ambitious and innovative companies with solid market positions and strong growth potential
• small to medium-sized companies with capital needs of between EUR 5 and 75 million
• companies headquartered in Benelux, France or the DACH countries
• companies with strong management and clear corporate visions on social added value

Sector specialization and an international focus

The teams at our portfolio companies can count on our extensive operational and financial expertise, expanding their own ecosystems with the extensive international network that we have built up over more than 40 years at Gimv. Our multidisciplinary, international teams are happy to complement an entrepreneur's in-depth sector knowledge with additional insights, new market opportunities and experience from other portfolio companies. Involved partnering with entrepreneurs in our specialist areas is the key to sustainable value creation.

Flexible partner with a solid balance sheet

Gimv invests directly in companies, mainly out of its own balance sheet resources. With a solid balance sheet and permanent access to capital, Gimv presents itself as a flexible and evergreen partner. This flexibility also translates into a wide range of investment structures (buyout, growth capital or venture capital for the life sciences sector), through both majority and minority investments. In this way we can respond to the specific needs of each portfolio company.

Sustainable value creation at our leading companies

Growth as the basis for strong results starting from solid market positions and differentiating strategies and implementation

Innovation as a driving force for development

Creation of attractive, high-quality jobs

End-to-enddigitisation incorporated into all processes and activities

Conscious vision of the sustainable impact of their activities

Sustainability

Futureproofing companies by ensuring that they conduct business responsibly and providing solutions for today's and tomorrow's economy and society: that is Gimv's task as a sustainable investor. This is why Gimv has integrated ESG (environment, social and governance) into the investment process, from the screening of investment opportunities to the entire holding period.

Gimv is an active investor, which means that it is almost always represented on the company's board of directors through its investment professionals. It is Gimv's ambition and mission to challenge and support the management teams of its portfolio companies in the area of ESG.

Gimv maintains a proactive, continuous and data-driven dialogue with the portfolio on ESG. This should also allow the companies themselves to take their ESG maturity and transparency to the next level.

Gimv has an ESG rating of 11.1 at Sustainalytics. This rating represents a bottom range low ESG risk and a top-10 ranking in the universe of the multi-sector holdings.

ESG portfolio survey - proces

ESG portfolio survey - themes

Companies in scope

Identification of sector	Inspired by internationally
	recognised standards pending
	the development of the EU
	standard
Identification of material
ESG topics
Questionnaire to assess
maturity and collect
necessary ESG data

You don't change the world on your own. That is why Gimv, as part of its approach to sustainability, enters into a number of relevant partnerships. As a sustainable investor Gimv has signed up to the 'Principles of Responsible Investment' or PRI. In the framework of its Diversity, Equity and Inclusion (DEI) ambitions, Gimv became one of the first Belgian private equity companies to partner with Level 20, which takes various initiatives in this area.

	Category		Topic
	Environment		" Environmental policies and management systems
			" Energy
			" Water
			" Climate change
			" Waste management
			" Green IT
			" Impact & cities
			" Sustainable purchasing
	Society		" Composition of the workforce
			" Equality at the workplace
			" Employee training
			" Health & safety
			" Well-being at work
			" Quality management
			" Animal testing
			" Philanthropie

Governance " Governance organization (including gender

diversity at top level)

• Business ethics
• Data protection & IT security