Brederode S.A.
BREB
ISIN LU1068091351 / Valor 24552426
Brederode S.A.
UMushroom community rating:
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: FinanceLatest Results (29.06.2026):
Brederode S.A. — Year ended 31 December 2025 (covering Q4 2025 / FY2025): Brederode reported a mixed full‑year performance driven by a strong listed‑securities return but a marked Private Equity underperformance largely due to U.S. dollar depreciation. Net profit for FY2025 was €124.40 million (EPS €4.25), shareholders’ equity per share rose to €144.24, and the Board proposes a €1.46 per‑share distribution for approval in May 2026.
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 SourceKey figures
Performance
Volatility
3490 M
Market cap (USD)
5,157
Daily traded volume (Shares)
111.2 / 109.4
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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