Groupe Bruxelles Lambert SA reported consolidated financial results for the six months ended June 30, 2016. For the six months, the group reported loss from investing activities of EUR 1,023.4 million, profit from consolidated operating activities of EUR 285.3 million and consolidated loss attributable to the group of EUR 888.4 million or EUR 5.72 per diluted share on turnover Of EUR 2,262.2 million against profit from investing activities of EUR 647.2 million, profit from consolidated operating activities of EUR 203.5 million and consolidated profit attributable to the group of EUR 719.9 million or EUR 4.61 per diluted share on turnover Of EUR 2,180.2 million for the same period of last year. Acquisitions of tangible and intangible assets was EUR 129.8 million against EUR 130.7 million for the same period of last year. Net debt increased from EUR 740 million as at December 31, 2015 to EUR 874 million as at June 30, 2016. Cash flow from operating activities was EUR 502.8 million against EUR 726.5 million for the same period of last year.

The impairments recorded on its investment explain the negative consolidated net result expected for the financial year 2016. As a reminder, these impairments do not have any impact on cash earnings or adjusted net assets. As a result of the disposals of high-yielding Total shares carried out at the end of 2015 and beginning of 2016, GBLs cash earnings will be negatively impacted in 2016, but in a temporary manner. The disposal proceeds are indeed intended to be reinvested, which will contribute to cash earnings, however gradually, depending on the investments yield and pace.

The company expects to pay a 2016 dividend at least equivalent to that relating to the financial year 2015.