Brederode S.A.

BREB

Equity

ISIN LU1068091351 / Valor 24552426

Euronext - Euronext Brussels (2026-07-07)

EUR 103.60-0.38%

Brederode S.A.
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About company

Brederode S.A. is an investment company publicly traded on the Brussels Euronext and Luxembourg Stock Exchanges. The company focuses on creating long-term value for its shareholders through a diversified portfolio comprising two main sectors: private equity investments and listed securities. The private equity segment involves investing in unlisted companies, offering the potential for higher returns compared to traditional stock market investments. Meanwhile, the listed securities portfolio serves as a financial reserve to support private equity ventures, managed with a focus on maintaining a balance between defensive strategies and the pursuit of profitability, liquidity, and growth. This dual approach allows Brederode to leverage the strengths of both private and public market investments to achieve its financial objectives.

Summarized from source with an LLMView SourceSector: Finance

Summary financials

Net profit: €124.40m in 2025 (vs €413.26m in 2024). Earnings per share: €4.25 (2024: €14.10). Shareholders’ equity per share: €144.24 (2024: €141.36).

Distribution

The Board proposes a distribution of €1.46 per share to the AGM (May 13, 2026) — a 6.6% increase vs the prior year and the 23rd consecutive annual increase. Brederode paid €1.37 per share in May 2025 (total amounts distributed in 2025: €40.15m).

Private Equity weakness

Private Equity posted a net loss of €105.42m in 2025 (vs a €295.89m profit in 2024). Management attributes most of the decline to adverse FX (USD→EUR) effects; the Private Equity portfolio stood at €2,653.21m at year‑end.

Listed portfolio strength

Listed securities generated a profit of €234.37m (2024: €125.09m) and the listed portfolio rose to €1,565.91m. Net dividends from listed holdings were €29.43m. Technology and selected large caps (e.g., Alphabet, Microsoft exposure) helped performance.

Balance sheet & liquidity

Total net assets €4,226.92m. Brederode ended 2025 with positive net cash of €19.62m (vs net financial debt €69.91m at end‑2024) and maintained confirmed credit lines of €350m.

Returns & ratios

Return on Equity fell to 3.0% (2024: 10.4%). Ten‑year IRR on equity remains strong at 11.8%, while the one‑year IRR is 3.0% reflecting the 2025 environment.

Portfolio activity and structure

Private Equity investments €260.17m and disposals €405.73m during 2025; uncalled commitments ~€1,192.12m. In listed portfolio, notable moves included opening positions in Atlas Copco (A) and Deutsche Börse, increasing Experian, reducing Unilever, and selling Nestlé and Sanofi.

Market performance

Market cap at end‑2025: €3,130m (2024: €3,253m). Share price closed €106.80 (2024: €111.00) and total return for 2025 was −2.6% including the May 2025 dividend.

Governance / management update

The Board proposes appointing Dimitri van der Mersch as a director and assigning day‑to‑day management to Dimitri together with CFO Nicolas‑Louis Pinon. Luigi Santambrogio is stepping down after a long tenure; the Board praises the planned succession.

Summarized from source with an LLMView Source

Key figures

-10.2%1Y

5.18%3Y

-5.13%5Y

Performance

12.5%1Y

16.4%3Y

22.6%5Y

Volatility