Rapport annuel 2023

Although the challenging environment did not spare our participations in 2023, AvH can present a strong net consolidated result of 399 million euros.

Luc Bertrand – Chairman of the board of directors
John-Eric Bertrand – co-CEO
Piet Dejonghe – co-CEO

Sustainability report 2023

Sustainability report 2023

As a diversified investment company, AvH applies a business model of sustainable growth, as illustrated in its baseline ‘Your partner for sustainable growth’.

 

Marine Engineering & Contracting

Marine Engineering & Contracting

Thanks to a strong H2, DEME’s full year result significantly exceeded its guidance. Despite the regulatory changes imposed during 2023 on the producers of renewable offshore energy in Belgium, Rentel and SeaMade add nicely to the growth of the contribution from Marine Engineering & Contracting to 128.5 million euros (+36%).

Private Banking

Private Banking

Delen Private Bank and Bank Van Breda realised a combined net profit of 264.2 million euros in 2023. Impressive commercial results generated substantial inflows of assets at both Delen Private Bank and Bank Van Breda, which in combination with strong operational performances led to record assets under management and net profits. With a contribution of 208.7 million euros (+16%) - clearly exceeding the 200 million euros threshold for the first time - Private Banking confirmed its position as the leading contributor to AvH’s group result.

Real Estate & Senior Care

Real Estate

Since the sale of Anima in mid-2022, the contribution of ‘Real Estate & Senior Care’ is generated exclusively by Nextensa. The sale of a number of less strategic buildings made it possible to realise capital gains and strengthen the balance sheet of Nextensa.

Energy & Resources

Energy & Resources

A 3% decline in production combined with lower market prices explain why SIPEF realised a net profit of 72.7 million USD, satisfying but 33% lower than the record results of 2022. The Energy & Resources segment contributed 24.6 million euros to AvH (-28%).

Growth Capital

Growth Capital

The consolidated participations of Growth Capital contribute 24.0 million euros to AvH’s profit. While this is lower than in 2022 (38.3 million euros) and 2021 (53.2 million euros), this is partly explained by the absence of contributions from the divested participations in Telemond (early 2023) and Manuchar (2022). Whereas the valuation of non-consolidated investments at ‘fair value’ had resulted in a profit of 13.8 million euros in 2022, this has been a negative of 13.1 million euros in 2023.