innovation and entrepreneurship. Our flexible approach is based on a solid balance sheet, patient capital, and long-term view. Hand-in-hand with the driven teams of growth companies, our dedicated teams of experts are working on innovative solutions for tomorrow's society.
Cover: Inside of the automated 'Kardex' crate warehousing system of portfolio company AME where components, parts and/or semi-finished products are stored.
Contents
1.
Message from Chairman and CEO
6
2.
Highlights 2020-2021
8
3.
Investment focus and value creation
11
4.
Four forward-looking investment platforms
17
Consumer
18
Health & Care
22
Smart Industries
26
Sustainable Cities
29
5.
Results 2020-2021
32
6.
ESG
38
7.
Corporate Governance
47
8.
Remuneration report
62
9.
Financial statements
74
Foreword
Highlights 2020-21
Investment focus & platforms
Results 2020-21
ESG
Governance & Remuneration
Financial statements
Annual Report 2020-2021
Gimv at a glance
Overview 31-03-2021
1.2
57
BILLION EUROS
PORTFOLIO
IN PORTFOLIO
COMPANIES
Value creation around four investment platforms
Sustainable
Smart
Health &
Consumer
Cities
Industries
Care
15
8
11
23
232
297
344
227
Portfolio composition (amount of companies / EUR millions per platform)
4
15,000 2.8
PROFESSIONALS WORKING
BILLION EUROS TURNOVER
IN PORTFOLIO COMPANIES
BY PORTFOLIO COMPANIES
Growing investment portfolio
85 portfolio companies
57 portfolio companies
1,082
1,233
931
920
1,014
964
960
1,017
845
814
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Portfolio evolution over 10 years (2009-2021,in EUR millions)
Foreword
Highlights 2020-21
Investment focus & platforms
Results 2020-21
ESG
Governance & Remuneration
Financial statements
Annual Report 2020-2021
5
Key figures
Consolidated financial statements (in EUR 000)
2020-2021
2019-2020
2018-2019
2017-2018
2016-2017
Equity
1,104,924
1,321,252
1,274,252
1,233,177
1,274,280
Portfolio
1,232,929
1,016,984
1,081,926
960,369
963,585
Cash and cash equivalents
517,480
368,041
276,699
380,452
313,906
Portfolio result
274,815
-111,959
155,259
150,400
169,007
Portfolio return1
27.0%
-10.3%
16.2%
15.6%
18.8%
Net profit
205,724
-151,573
112,079
107,064
131,853
Total gross dividend
63,567
63,567
63,567
63,567
63,567
Investments (own balance sheet)
211,129
204,885
222,208
246,209
179,628
Divestments (own balance sheet)
265,510
179,404
196,205
371,145
394,346
Number of employees
89
91
91
92
93
Key figures per share (in EUR)
Equity
49.0
43.5
52
50.1
48.5
Net profit
7.96
-5.96
4.41
4.21
5.19
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
17%
14%
11%
12%
10%
10%
10%
9%
4%
2%
2016-17
2017-18
2018-19
2019-20
2020-21
Turnover Ebitda
Turnover and Ebitda growth in the portfolio (in %)
394
371
246
222
266
196
205
211
180
179
2016-17
2017-18
2018-19
2019-20
2020-21
Investments Divestments
Investments and divestments on annual basis (in EUR millions)
Foreword
Highlights 2020-21
Investment focus & platforms
Results 2020-21
ESG
Governance & Remuneration
Financial statements
Attachments
Original document
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Disclaimer
GIMV Investeringsmaatschappij Voor Vlanderen NV published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 10:23:05 UTC.
Gimv NV is one of the leading investment companies in Belgium. At the end of March 2022, the portfolio had an estimated market value of EUR 1,522.9 million broken down by type of shares as follows:
- investments in unlisted companies (74.2%);
- investments in listed companies (3.5%);
- other (22.3%).
Portfolio breaks down geographically by value as follows: Belgium (27.8%), Germany (23.3%), France (21.4%), the Netherlands (18.6%), and RoW (8.9%).
GIMV NV 
