Luxembourg-based Reinet Investments made consolidated profits of €519m in its last financial year, which covered the 12 months to 31 March 2024. Its accounts were approved during the firm’s annual general meeting, 27 August 2024. Photo: Maison Moderne

Luxembourg-based Reinet Investments made consolidated profits of €519m in its last financial year, which covered the 12 months to 31 March 2024. Its accounts were approved during the firm’s annual general meeting, 27 August 2024. Photo: Maison Moderne

Shareholders approved the Reinet Investments’s financial statements and a cash dividend of €0.35 per share at its annual general meeting on Tuesday.

Shareholders of Luxembourg-based Reinet Investments have approved the company's financial statements for the year ending 31 March 2024.

Net profit in the firm’s consolidated accounts for the year ended 31 March 2024 was €519m, compared with a loss of €120m the previous year. Over the same period, the net value of assets amounted to €6.2bn, an increase of 8.1% on the previous year. Net asset value per share was €34.02, an increase of €2.56 per share. Cash dividends amount to €0.35 per share, 16% more than for the 2022/2023 financial year. These dividends will be payable on 18 September 2024 as detailed its annual report.

Shareholders also re-elected John Li, , Stuart Robertson and Stuart Rowlands as members of the supervisory board for the year ending at the next annual general meeting. Each member will be paid €70,000 for the year.

"We will continue to seek new investment opportunities and partnerships which fulfil our objective of providing long term capital growth and to support our existing portfolio companies", commented executive chairman Johann Rupert in the annual report.

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Founded in 2008, Reinet Investments specialises in managing a diversified portfolio of investments in listed and unlisted companies, private equity funds and other financial assets. Reinet is listed on the Luxembourg Stock Exchange, Euronext Amsterdam and the Johannesburg Stock Exchange.

Reinet's share price performance over the last financial year. Graph: Reinet Investments

Reinet's share price performance over the last financial year.  Graph: Reinet Investments

The firm invests in a varied portfolio that includes listed stocks such as British American Tobacco, stakes in unlisted companies such as Pension Insurance Corporation, and private equity funds such as Trilantic Capital Partners and TruArc Partners. The fund also holds stakes in specialist funds such as the Coatue Funds and Asian private equity funds, as well as managing real estate development projects in the US.

These investments are structured and managed primarily through companies incorporated in Luxembourg and Jersey, Channel Islands.

Read the French language version of this report

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