DOCSLIB.ORG

Climate Risk Disclosure Barometer Study Belgium 2020 Content

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Climate Risk Disclosure Barometer Study Belgium 2020 Content How are your climate change disclosures revealing the true risks and opportunities of your business? Climate Risk Disclosure Barometer Study Belgium 2020 Content 03 About this report 04 Methodology 06 Key findings 08 Observations and recommendations 10 Banks and Asset Managers 12 Food and beverage products 14 Health, retail and consumer goods 16 Holdings 18 Insurance 20 Manufacturing 22 Real estate 24 Technology 26 Telecom and services 28 Transport 30 Climate reporting versus non-financial reporting 32 What’s next? 33 Who we are About this report The Intergovernmental Panel on Climate Change (IPCC) released a report in 2018 on the impacts of global warning of 1.5˚C and the emission pathways to achieve this goal. The results of the report are putting pressure on policy makers for more ambitious carbon policies, increasing the needs for investors to assess the impact on their investment portfolios and raising the awareness amongst business and consumers about climate change. Companies need to understand the physical impacts of climate change and the risks associated with the necessary transitioning to a low carbon economy. Companies are also confronted with increased expectations of investors and other stakeholders to make better analyses and disclosures on their resilience to climate risks. The report assesses the state of play of Belgian companies of the level to which they incorporate climate change in their business strategy through their publicly available reporting. In line with the 2019 EY Global Climate Risk Disclosure Barometer we are using the TCFD recommendations as a framework to assess the quality of the disclosures. In 2017, the industry-led Task Force on Climate-related Financial Disclosures (TCFD), set up by the financial stability board (FSB), finalized its recommendations on financial climate risk disclosures. They aim to improve investor’s and corporates’ understanding of the impact of climate risks and to reduce the risk of a systemic financial shock to the economy due to climate change. The TCFD recommendations provide companies with a comprehensive framework to systematically report the impact of climate risks and opportunities. This report provides insights in the uptake of the TCFD recommendations across a selection of 56 companies in Belgium, both listed and non-listed, across 10 different sectors. The purpose of this report is to help companies understand the current state of climate reporting and to indicate areas for improvement across the different sectors. Methodology The scoring methodology is taken Monitoring and reporting are from the 2019 EY Global Climate Risk elements to driving corporate Disclosure Barometer, which examines action, but we are well aware that the public disclosures of over 950 not all information is disclosed by companies across a range of sectors in companies. Therefore, the desk 34 countries, including Belgium. research has been complemented by in-depth interviews with 25 The findings of the EY Belgium’s study companies in the scope of the study. are based on disclosures in publicly The dialogue provided us with available information, including valuable background information, annual reports, sustainability reports which we have integrated in the or the company’s website for the report, for example by the use of 2019 reporting period. When publicly quotes. available, a company’s disclosure concerning the CDP was also assessed. Due to fact that 2019 CDP reporting is not available yet, our study is based on Areas of the TCFD the 2018 reporting period. recommendations Metrics The TCFD recommendations are and structured around four thematic Targets areas that reflect how companies t operate: governance, strategy, R n is e risk management and metrics and k Managem targets. Strategy Governance TCFD thematic areas TCFD recommended disclosures Governance The organization’s governance around climate-related a. Board oversight risks and opportunities b. Management’s role Strategy The actual and potential impacts of climate-related a. Climate-related risks and opportunities risks, and opportunities on the organization’s b. Impact on the organization’s businesses, strategy, and businesses, strategy and financial planning financial planning c. Resilience of the organization’s strategy Risk Management The processes used by the organization to identify, a. Risk identification & assessment processes assess and manage climate-related risks b. Risk management process c. Integration into overall risk management Metrics & Targets The metrics and targets used to assess and mange a. Climate-related metrics in line with strategy and risk relevant climate-related risks and opportunities management process b. Scope 1, 2, 3 GHG metrics and the related risks c. Climate-related targets and performance against targets 4 | Belgium Climate Risk Disclosure Barometer Study The TCFD recommendations define The rating was expressed as a The selection consists of: climate impacts in two distinct percentage of the maximum score categories: should the company implement all • The BEL 20 11 TCFD recommendations. A score • 13 other listed companies (mostly • Transition impacts reflect the risks of 100% indicates that the company BEL Mid) to reach a balance in listed and opportunities associated with adopted all the recommendations and companies in every sector. changes in the economy, including the quality of the disclosure met all the • 23 non-listed companies based growth impacts, sector re-weighting requirements of the TCFD (i.e., gaining on the following criteria: majority and other macroeconomic factors. a maximum score of 3 for each of the of the shareholders in Belgium, • Physical impacts reflect the changes 11 recommendations). sector (identified by the TCFD as in the physical climate (e.g., altered most exposed to climate-related rainfall amounts, intensities and risks or one of the four selected timings) that may impact future Selection of companies relevant non-key TCFD-sectors) and business activities. company size. The energy sector was excluded from the assessment We have selected 56 companies in because of the first criterium. Scoring 10 different sectors. The sectors are the ones identified by the TCFD recommendations as most vulnerable Companies were scored on the to climate change impacts: Banks, availability and quality of their climate- Insurance companies, Asset owners related disclosures, using the following and Asset managers, Energy, scoring system: Transportation, Materials and 0 — Not publicly disclosed Buildings, Agriculture, Food and Forest products. We have added four 1 — Limited discussion of the aspects sectors to our assessment based on (or only partially discussed) the importance to our economy and the potential overall impact of climate 2 — Aspects are discussed in detail change across the value chains: Retail, 3 — Addressed all features of the Health and Consumer Goods, as well aspect in the disclosure as Telecom and Services, Holdings and Technology. 60% of the companies assessed are listed on Euronext. Sector Sectors identified by TCFD as most Number of companies exposed to risk assessed Food & Beverage Agriculture, Food and Forest products 9 Banks & Asset managers Banks & Asset managers 6 Insurance Insurance 3 Manufacturing Materials and Buildings 11 Real estate Materials and Buildings 4 Transport Transport 4 Health, Retail and Consumer goods N/A 6 Technology N/A 5 Telecom and Services N/A 4 Holdings N/A 4 Total 56 Belgium Climate Risk Disclosure Barometer Study | 5 Key findings Our analysis shows that two out of three companies financial impact that different climate scenarios could assessed have disclosed some climate-related risks. This have on their business, strategy and financial planning. proves that many companies are aware of the challenges Climate change scenario planning not only addresses related to climate change. the TCFD recommendations, but also – and primarily – provides companies with new inputs into business strategy There is however room for improvement, especially in and planning, which enhances internal capabilities and terms of quality of disclosures. The overall score of 31% processes. shows that the level of detail of information is still limited. The responsiveness to the TCFD recommendations differs Almost the entire economy will be facing major disruption significantly within every sector. The scores in each sector from climate transition and climate impacts over the coming vary considerably between one or a few high performers, a years. Yet, a majority of companies are not engaging middle bracket and a number of low-performing companies. strategically with these risks or positioning themselves to take advantage of potential opportunities. With investors Assessing climate-related risks and opportunities is complex paying increasing attention, this is likely to affect their and requires detailed analysis on how climate change valuation even before the impacts are fully realized. impacts a business and how the business is responding. The majority of companies have yet to report on the potential Average results per TCFD component Belgian versus global results The TCFD recommendations which companies reported best While the TCFD recommendations are globally the most on are “metrics and targets” (mainly driven by reporting on recognized framework for climate-related disclosures and Scope 1 and 2 greenhouse gas emissions) and “governance” analyses, full compliance is for companies worldwide a in the second instance. Disclosures relating to “strategy”
Load more

Recommended publications
  • UCB SA (Incorporated with Limited Liability in Belgium) As Issuer
    Base Prospectus dated 8 March 2021 UCB SA (incorporated with limited liability in Belgium) as Issuer EUR 5,000,000,000 Euro Medium Term Note Programme Due from one month from the date of original issue This base prospectus (the “Base Prospectus”) relating to the EUR 5,000,000,000 Euro Medium Term Note Programme (the “Programme”) of UCB SA, a limited liability company (société anonyme) incorporated under the laws of Belgium, having its registered office at Allée de la Recherche 60, B-1070 Brussels and registered with the Crossroads Bank for Enterprises under number 0403.053.608 (“UCB”, or the “Issuer”) is valid, for the purpose of the admission to trading and listing of the Notes (as defined below) on the regulated market of Euronext Brussels or on another regulated market in the European Economic Area (the “EEA”), for a period of twelve months from the date of approval. Any Notes issued under the Programme are issued subject to the provisions set out herein. Under the Programme, the Issuer, subject to compliance with all relevant laws, regulations and directives, may from time to time issue Euro Medium Term Notes (the “Notes”) as may be agreed between the Issuer and the relevant Dealer (as defined below). The minimum Specified Denomination of Notes shall be EUR 100,000 (or its equivalent in other currencies).The maximum aggregate nominal amount of Notes outstanding will not at any time exceed EUR 5,000,000,000 (or the equivalent in other currencies). This Base Prospectus has been approved as a base prospectus for the purposes of Article 8 of Regulation 2017/1129 (as amended, the “Prospectus Regulation”) on 8 March 2021 by the Belgian Financial Services and Markets Authority (the “FSMA”) in its capacity as competent authority in accordance with Article 20 of the Prospectus Regulation.
    [Show full text]
  • Integrated Annual Report 2020
    Amber, living with psoriasis INTEGRATED ANNUAL REPORT 2020 ADAPTING FOR BETTER CARE INTEGRATED ANNUAL REPORT 2020 ADAPTING FOR BETTER CARE Welcome to our Integrated Annual Report 2020! Our Integrated Annual Report 2020 – Adapting for Better Care – aims to provide all interested stakeholders with the best pos- sible information on how UCB is creating value for patients with severe diseases and about how we care for our employees, for communities, and for our planet, now and into the future. About this report This Integrated Annual Report 2020 includes the management report in accordance with article 12 of the Royal Decree of 14 November 2007 relating to the obligations of issuers of finan- cial instruments admitted to trading on a regulated market. All information required to be included in such management report pursuant to articles 3:6 and 3:32 of the Belgian Code of Com- panies and Associations (i.e. Corporate Governance Statement – Remuneration Report included -, Business Performance Review and UCB’s Statement on extra-financial1 information) is reported throughout all different sections of this Integrated Annual Re- port. This Integrated Annual Report together with the materiality assessment have been prepared in accordance with the Global Reporting Standards core option and extra-financial information is audited by a third party. 1 ‘Extra-financial’ is the term used by UCB for information commonly referred to as ‘non-financial’. UCB | Integrated Annual Report 2020 3 Index Key Figures 6 UCB At a Glance 8 Letter to our stakeholders
    [Show full text]
  • Euro Stoxx® Multi Premia Index
    EURO STOXX® MULTI PREMIA INDEX Components1 Company Supersector Country Weight (%) SARTORIUS STEDIM BIOTECH Health Care France 1.59 IMCD Chemicals Netherlands 1.25 VOPAK Industrial Goods & Services Netherlands 1.15 BIOMERIEUX Health Care France 1.04 REMY COINTREAU Food, Beverage & Tobacco France 1.03 EURONEXT Financial Services France 1.00 HERMES INTERNATIONAL Consumer Products & Services France 0.94 SUEZ ENVIRONNEMENT Utilities France 0.94 BRENNTAG Chemicals Germany 0.93 ENAGAS Energy Spain 0.90 ILIAD Telecommunications France 0.89 DEUTSCHE POST Industrial Goods & Services Germany 0.88 FUCHS PETROLUB PREF Chemicals Germany 0.88 SEB Consumer Products & Services France 0.87 SIGNIFY Construction & Materials Netherlands 0.86 CARL ZEISS MEDITEC Health Care Germany 0.80 SOFINA Financial Services Belgium 0.80 EUROFINS SCIENTIFIC Health Care France 0.80 RATIONAL Industrial Goods & Services Germany 0.80 AALBERTS Industrial Goods & Services Netherlands 0.74 KINGSPAN GRP Construction & Materials Ireland 0.73 GERRESHEIMER Health Care Germany 0.72 GLANBIA Food, Beverage & Tobacco Ireland 0.71 PUBLICIS GRP Media France 0.70 UNITED INTERNET Technology Germany 0.70 L'OREAL Consumer Products & Services France 0.70 KPN Telecommunications Netherlands 0.68 SARTORIUS PREF. Health Care Germany 0.68 BMW Automobiles & Parts Germany 0.68 VISCOFAN Food, Beverage & Tobacco Spain 0.67 SAINT GOBAIN Construction & Materials France 0.67 CORBION Food, Beverage & Tobacco Netherlands 0.66 DAIMLER Automobiles & Parts Germany 0.66 PROSIEBENSAT.1 MEDIA Media Germany 0.65
    [Show full text]
  • Dynavax Announces Full Enrollment of Phase II/III AIC Trial
    Dynavax Announces Full Enrollment of Phase II/III AIC Trial BERKELEY, Calif., May 19 /PRNewswire-FirstCall/ -- Dynavax Technologies Corporation (Nasdaq: DVAX), a biopharmaceutical company focused on the discovery, development, and commercialization of innovative products to treat and prevent allergies, infectious diseases and chronic inflammatory diseases, today announced that its Phase II/III clinical trial of AIC for ragweed allergy, which started in late February 2004, has been fully enrolled. The double blind, placebo controlled study involves 462 subjects at 30 sites in the U.S. and will be completed over the next 18 months. The immunization schedule, consisting of six injections over six weeks, will be completed by June. The clinical trial is being conducted in collaboration with UCB Pharma, a European pharmaceutical company that markets XYZAL® and developed ZYRTEC®, the leading prescription anti- allergy drug worldwide. Dynavax and UCB signed a global licensing and commercialization agreement covering ragweed and grass allergy immunotherapies in February 2004. The primary endpoint of the Phase II/III ragweed study will be nasal symptoms scores after the second ragweed season in the late summer and early fall of 2005, with secondary endpoints assessing symptoms, medication use and quality of life in both the first and second year. A blinded interim analysis will be made in late 2004 to assess safety and the appropriateness of commencing a one-year Phase III trial in early 2005. "The collaboration with UCB has been very effective, with both organizations working diligently to advance our ragweed program," said Dr. Dino Dina, president and CEO of Dynavax. "The rapid enrollment of our ragweed trial, particularly given its size and stringent enrollment criteria, is an early indication of the level of interest that both investigators and patients have in this therapy.
    [Show full text]
  • Lamotrigine Orally Disintegrating Tablet
    UnitedHealthcare Pharmacy Clinical Pharmacy Programs Program Number 2021 P 3001-14 Program Step Therapy - Anticonvulsants Medication/Therapeutic Anticonvulsants – Class Depakote®, Depakote ER®, Felbatol, Keppra® , Keppra® XR®, Lamictal®, Lamictal XR®, Lamictal ODT®, lamotrigine extended-release, lamotrigine orally disintegrating tablet, Lyrica, Mysoline, Neurontin®, Onfi, Oxtellar™ XR*, Qudexy XR* (brand and authorized generic), Sabril, Spritam*, Topamax®, Trileptal®, Trokendi® XR*, Zonegran® P&T Approval Date 8/2010, 11/2010, 11/2011, 2/2013, 11/2013, 4/2014, 7/2014, 11/2014, 4/2015, 1/2016, 6/2016, 6/2017, 9/2018, 9/2019, 10/2020, 6/2021 Effective Date 9/1/2021; Oxford only: N/A 1. Background Step Therapy programs are utilized to encourage use of lower cost alternatives for certain therapeutic classes. a. Multi-Source Brand Products This program requires a member to try the A-rated generic prior to receiving coverage for Depakote, Depakote ER, Felbatol, Keppra, Keppra XR, Lamictal, Lamictal ODT, Lamictal XR, Lyrica, Mysoline, Neurontin, Onfi, Sabril, Topamax, Trileptal and Zonegran. There will be exceptions for members with a documented diagnosis of a seizure disorder. For members with a claim for at least a 14 day supply of the A-rated generic in the previous 6 months, the prescription will process automatically. b. Modified Release Products This program requires a member to try levetiracetam immediate release, levetiracetam extended-release, levetiracetam solution, lamotrigine immediate release, divalproex sodium delayed release, Depakote delayed release, generic valproic acid, Depakene formulations, Depakote sprinkles, divalproex sodium sprinkles, oxcarbazepine or Trileptal prior to coverage of their respective modified release formulations: lamotrigine extended-release, lamotrigine orally disintegrating tablet, Oxtellar XR*, Qudexy XR*, Spritam and Trokendi XR*.
    [Show full text]
  • Purpose & Patience
    PURPOSE & PATIENCE We aspire to be the preferred partner of entrepreneurs and families who lead growing companies by backing them with patient capital and supportive advice — Q1 2020 Edition — OUR MISSION Our goal at Sofina is to create economic value with a human approach We believe that the entrepreneurial spirit that characterises many family businesses and growth companies is a source of progress. By supporting these entrepreneurs and innovators, we intend to contribute to global growth, development and innovation. We believe entrepreneurs become successful by being competitive in a globalised market Our mission is to provide patient capital, expertise and advice to growing companies led by entrepreneurs and families. We aspire to be their preferred partner, and have a long-term horizon that few other investors can match. Our heritage and culture are what make us unique We put human relationships at the heart of what we do. All our investments are stories of shared values, friendships and ambitious projects with talented entrepreneurs and their management teams. By continuously working in this way, we aspire to become the preferred investment partner of those sharing our beliefs and vision. 2 SOFINA - PURPOSE & PATIENCE OUR MISSION 3 KEY FIGURES Highlights EUR 7.63 BN GLOBAL SHAREHOLDERS’ EQUITY REACH A FAMILY RUN 3 US EUROPE ASIA AND CONTROLLED COMPLEMENTARY Change over the last 20 INVESTMENT COMPANY INVESTMENT years (2) STYLES 8.00 7.00 6.00 5.00 FOUR FOCUS 4.00 SECTORS Long-term minority 3.00 investments 2.00 1.00 43% OF SHAREHOLDERS’ EQUITY (1) Offices in Brussels, 0 Luxembourg and Singapore Consumer and Retail 1999 2019 Sofina Private Funds – Investments in venture and growth capital funds Digital Transformation 31% OF SHAREHOLDERS’ EQUITY (1) Roots going back 26 Sofina Growth – Investments in Education investment fast-growing businesses professionals 120+ YEARS across our 20% OF SHAREHOLDERS’ EQUITY (1) 3 offices Healthcare (1) Considering the portfolio in transparency.
    [Show full text]
  • Analyst Report KBC Securities
    MORNING NOTE 24 April 2012 Benelux Conference in London, 22 May 2012. Click here to register. Dear client, the Extel Europe 2012 survey will run from 19 March to 4 May. If you appreciate our services, we would be grateful to receive your vote on www.extelsurvey.com in the following categories: Benelux: Country Analysis; Corporate Access; Equity Sales and Trading/Execution. Thank you. CONTENTS Company / Sector Comment Recommendation Price Target Price Cofinimmo Student housing contract with ULB Hold 91.22 96.00 EXMAR Major milestones realised during Q1 Buy 5.76 8.00 GDF Suez One quarter doesn't make the trend reversal Hold 18.19 21.00 Imtech Trading update in line with expectations Buy 21.65 31.00 Mediq Acquires US based D&I company for €12m Buy 11.40 15.00 Mobistar 1Q12E – regulation strikes again Hold 33.00 36.00 Quest for Growth Clear2Pay on the block? Buy 4.23 6.00 Reed Elsevier Reiterates FY12 outlook Accumulate 8.98 11.00 Solvay Ambitious 2016 guidance announced Accumulate 85.83 100.00 Tigenix Cell production facility gets green light Hold 0.57 0.95 Transics Tavares considers take-over bid Buy 6.95 8.00 Umicore FY12 guidance below expectations Hold 41.76 43.00 USG People Double-digit sales decline Accumulate 5.98 11.00 Vopak Preview 1Q12 trading update Hold 47.30 41.00 CHANGES IN RECOMMENDATION CHANGES IN TARGET PRICE Company From To Company From To Umicore Accumulate Hold Umicore 45.00 43.00 KEY FIGURES CHANGES IN EPS FORECAST From To (at close) Price 1D 1M 12M Company 2012 2013 2012 2013 AEX 301.3 -2.6% -7.6% -16.1% Transics (€)
    [Show full text]
  • Portfolio of Investments
    PORTFOLIO OF INVESTMENTS Variable Portfolio – Partners International Value Fund, September 30, 2020 (Unaudited) (Percentages represent value of investments compared to net assets) Investments in securities Common Stocks 97.9% Common Stocks (continued) Issuer Shares Value ($) Issuer Shares Value ($) Australia 4.2% UCB SA 3,232 367,070 AMP Ltd. 247,119 232,705 Total 13,350,657 Aurizon Holdings Ltd. 64,744 199,177 China 0.6% Australia & New Zealand Banking Group Ltd. 340,950 4,253,691 Baidu, Inc., ADR(a) 15,000 1,898,850 Bendigo & Adelaide Bank Ltd. 30,812 134,198 China Mobile Ltd. 658,000 4,223,890 BlueScope Steel Ltd. 132,090 1,217,053 Total 6,122,740 Boral Ltd. 177,752 587,387 Denmark 1.9% Challenger Ltd. 802,400 2,232,907 AP Moller - Maersk A/S, Class A 160 234,206 Cleanaway Waste Management Ltd. 273,032 412,273 AP Moller - Maersk A/S, Class B 3,945 6,236,577 Crown Resorts Ltd. 31,489 200,032 Carlsberg A/S, Class B 12,199 1,643,476 Fortescue Metals Group Ltd. 194,057 2,279,787 Danske Bank A/S(a) 35,892 485,479 Harvey Norman Holdings Ltd. 144,797 471,278 Demant A/S(a) 8,210 257,475 Incitec Pivot Ltd. 377,247 552,746 Drilling Co. of 1972 A/S (The)(a) 40,700 879,052 LendLease Group 485,961 3,882,083 DSV PANALPINA A/S 15,851 2,571,083 Macquarie Group Ltd. 65,800 5,703,825 Genmab A/S(a) 1,071 388,672 National Australia Bank Ltd.
    [Show full text]
  • 205836Orig1s000 205837Orig1s000 205838Orig1s000
    CENTER FOR DRUG EVALUATION AND RESEARCH APPLICATION NUMBER: 205836Orig1s000 205837Orig1s000 205838Orig1s000 ADMINISTRATIVE and CORRESPONDENCE DOCUMENTS EXCLUSIVITY SUMMARY NDA #: NDA 205836 (oral tablets), NDA 205837 (injection 10 mg/mL) NDA 205838 (oral solution 10 mg/mL) SUPPL # HFD # Trade Name: BRIVIACT Generic Name: BRIVIACT (brivaracetam); 10, 25, 50, 75, and 100 mg oral tablets; injection (10 mg/mL); and oral solution (10 mg/mL) Applicant Name: UCB, Inc. Approval Date, If Known: February 19, 2016 PART I IS AN EXCLUSIVITY DETERMINATION NEEDED? 1. An exclusivity determination will be made for all original applications, and all efficacy supplements. Complete PARTS II and III of this Exclusivity Summary only if you answer "yes" to one or more of the following questions about the submission. a) Is it a 505(b)(1), 505(b)(2) or efficacy supplement? YES X NO If yes, what type? Specify 505(b)(1), 505(b)(2), SE1, SE2, SE3,SE4, SE5, SE6, SE7, SE8 505(b)(1) c) Did it require the review of clinical data other than to support a safety claim or change in labeling related to safety? (If it required review only of bioavailability or bioequivalence data, answer "no.") YES X NO If your answer is "no" because you believe the study is a bioavailability study and, therefore, not eligible for exclusivity, EXPLAIN why it is a bioavailability study, including your reasons for disagreeing with any arguments made by the applicant that the study was not simply a bioavailability study. If it is a supplement requiring the review of clinical data but it is not an effectiveness supplement, describe the change or claim that is supported by the clinical data: Reference ID: 3888400 Page 1 d) Did the applicant request exclusivity? YES X NO New moiety exclusivity requested If the answer to (d) is "yes," how many years of exclusivity did the applicant request? Applicant did not specify.
    [Show full text]
  • Other Financial Services Investment Research Sector Update
    Other Financial Services Investment Research Sector Update 01 March 2011 -40% 170 -35% 160 BELGIAN HOLDING AND INVESTMENT COMPANIES -30% 150 -25% 140 Last month's news flow Ackermans & van Haaren Bank Van Breda intends to launch a counter bid on ABK -20% 130 Ackermans & van Haaren Publication of flash note "FY10 preview: considerable increase of current result expected" -15% 120 Bois Sauvage Final closing of the sale of its participation in Bank Degroof -10% 110 Bois Sauvage Simplification of controlling structure - upgrade to Buy CNP/NPM Interruption of share buy-back programme -5% 100 CNP/NPM CNP/NPM portfolio company BIG is not to be sold 0% 90 Gimv Folow-up investment in NovoPolymers 90 92 94 96 98 00 02 04 06 08 10 12 Gimv 9M10/11 update Source : Bloomberg, ESN - Bank Degroof Research Gimv Divestment of Plexxikon to Daiichi Sankyo Histogram : Average (unweighted) discount to adjusted NAV of 5 largest Quest for Growth Publication of company update "FY10 release and portfolio update" holding companies (LHS) RHJ International Publication of flash note "The final settlement of the Honsel bankruptcy could turn out Line : Cumulative excess return Belgian investment companies vs. Belgian to be more favourable for RHJI than previously anticipated" All Shares Return Index since 1990 (RHS) RHJ International Refinancing of Asahi Tec's debt RHJ International Sale of stake in Niles Sector performances Abs. Perf. (1 month) -0.8% Financial calendar Abs. Perf. (3 month) 6.7% 03-Mar-11 Ackermans & van Haaren FY10 Results + analyst meeting 03-Mar-11
    [Show full text]
  • Fact Sheet As of 06/30/2021
    iShares MSCI Belgium ETF EWK Fact Sheet as of 06/30/2021 The iShares MSCI Belgium ETF seeks to track the investment results of a broad-based index composed of Belgian equities. KEY FACTS Fund Launch Date 03/12/1996 Expense Ratio 0.51% WHY EWK? Benchmark MSCI Belgium IMI 25/50 1 Exposure to a broad range of companies in Belgium Index 2 Targeted access to Belgian stocks 30 Day SEC Yield 1.26% Number of Holdings 45 3 Use to express a single country view Net Assets $42,175,764 Ticker EWK GROWTH OF 10,000 USD SINCE INCEPTION CUSIP 464286301 Exchange NYSE Arca TOP HOLDINGS (%) ANHEUSER BUSCH INBEV SA 21.73 KBC GROEP 9.11 ARGENX 6.71 UCB SA 6.40 GROUPE BRUXELLES LAMBERT NV 4.60 UMICORE SA 4.56 SOLVAY SA 4.25 Fund Benchmark AGEAS SA 3.94 The Growth of $10,000 chart reflects a hypothetical $10,000 investment and assumes SOFINA SA 3.36 reinvestment of dividends and capital gains. Fund expenses, including management fees and WAREHOUSES DE PAUW NV 2.63 other expenses were deducted. 67.29 PERFORMANCE Holdings are subject to change. 1 Year 3 Year 5 Year 10 Year Since Inception NAV 35.40% 5.77% 7.10% 7.56% 5.81% Market Price 35.81% 6.06% 7.06% 7.57% 5.82% Benchmark 29.34% 4.17% 6.10% 7.91% 5.85% The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost.
    [Show full text]
  • Company Profile
    COMPANY PROFILE - October 2015 - GENERAL OVERVIEW MISSION & VALUES Sofina is a European, family-controlled, investment Our Mission company listed on Euronext Brussels. To provide patient and supportive Market Capitalization* : € 3.4 Bn capital helping families and entrepreneurs to develop their Net Asset Value* : € 4.9 Bn businesses Offices in Brussels, Luxemburg & Singapore Our Values A team of 51 professionals across our offices Entrepreneurial talent and families are a major driver of progress and Website: www.sofina.be innovation globally. Sofina’s mission (* Jun 2015, excl. own shares) is… … to foster the long-term growth of 3 MAIN LINES OF BUSINESS their endeavors … to provide, directly or indirectly, with 1. Long term strategic minority investments (~65%) patient capital and value-added support tailored to their specific needs 2. Investments in top tier Private Equity Funds (~25%) … to become the preferred partner of every like-minded family or 3. Co-investments in fast growing businesses (<10%) entrepreneur in the investment business 1 I. LONG TERM STRATEGIC INVESTMENTS INVESTMENT PHILOSOPHY MAIN HOLDINGS Minority investor (€ 75-200 M equity tickets) Long term view Active and supportive Board participation Public or private corporations Diversified sector base Primarily European based companies 2 II. ALTERNATIVE INVESTMENTS - PRIVATE EQUITY/VENTURE CAPITAL FUNDS INVESTMENT PHILOSOPHY MAIN PARTNERS USA (70%) Long-term partnerships with leading funds Focus on Venture and Expansion Capital Predominantly US-based EMERGING MARKETS (15%) funds (activity started in the US in the late 70s) EUROPE (15%) 3 III. CO-INVESTMENTS - VENTURE, GROWTH & BUY-OUT INVESTMENT PHILOSOPHY VENTURE & GROWTH COMPANIES MAIN PARTNERS Minority investor ($ 15-50 M equity tickets) Round led by a trusted partner F&B Focus on high-growth sectors (incl.
    [Show full text]