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Figures

Preliminary

This section of the website provides a brief description of the statistical material presented in the most recent Annual Report (2018-2019).

Key figures (up to June 2019)

Balance sheet after profit distribution on 30 June 2019 (in EUR million) 

Capital and shares

On 30 June 2019 KBC Ancora’s capital and reserves amounted to EUR 2,745 million. The company’s capital amounted to EUR 2,022 million and was represented by 78,301,314 shares.

Participation in KBC Group

On the balance sheet date, KBC Ancora held 77,516,380 KBC Group shares, representing a participating interest of almost 18,6% in KBC Group.

Net debt

As at the balance sheet date, KBC Ancora’s net debt (debt less current assets) amounted to EUR 343 million, largely due to EUR 343 million financial debts.

Income, expenses

KBC Ancora's income consists almost entirely of dividends from its participating interest in KBC Group. KBC Ancora’s operating expenses break down into costs relating exclusively to KBC Ancora, such as costs incurred in connection with financial services, costs in relation to stock market listing, costs in connection with management activities and costs of creditors and operating costs incurred through the cost-sharing agreement. The latter was created by KBC Ancora and Cera to enhance the cost-effectiveness of both parties’ operations.

The following tables summarise the trend in the income and expenses of KBC Ancora in recent fiancial years.

 

Cash flows

The table below represents the cash flows for the last financial years.



Dividend and dividend yield

End of August 2019, the Board of Directors of Almancora Société de gestion, statutory manager of KBC Ancora, has decided to make a limited adjustment to the dividend policy. This adjustment means that, with effect from the current financial year, 90% of the distributable recurring result for the financial year (i.e. after adjustment for any exceptional results and after the compulsory formation of the legal reserve) will be paid out as (interim) dividend.

Compared to the previous dividend policy, this means a reduction of 10%. This will make it possible to accelerate the reduction of the outstanding financial debt.

This adjusted dividend policy will be applied for the first time to the interim dividend which (barring exceptional circumstances) will be made payable at the beginning of June 2020.

In the event that KBC Ancora does not receive a dividend from its participating interest in KBC Group in any given year, KBC Ancora will itself not pay a dividend in that year. If KBC Ancora receives KBC Group dividend again in a subsequent financial year, its result carried forward from previous years will be taken into account when determining the profit available for distribution.

After addition of the result carried forward from the previous financial year (EUR 1.0 million), the result available for appropriation amounted to EUR 216.0 million. The following appropriation of profit has been proposed to the General Meeting of Shareholders to be held on 26 October 2018:

  • addition of EUR 10.8 million (5% of the profit for the financial year)) to the legal reserve;
  • a distributable profit of EUR 204.4 million. This amount was paid out on 7 June 2017 in the form of an interim dividend of EUR 2.61 per share;
  • carry-forward of the balance of EUR 0.9 million, or EUR 0.01 per share, to the next financial year.