Brederode S.A.

BREB

Equity

ISIN LU1068091351 / Valor 24552426

Euronext - Euronext Brussels (2026-09-08)

EUR 103.80-0.19%

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

Key financials

Brederode S.A. reported net profit €124.40m for the year ended 31/12/2025, shareholders’ equity €4,226.92m (equivalent to €144.24 per share), return on equity 3.0% (down from 10.4% in 2024) and EPS €4.25 (2024: €14.10).

Portfolio drivers

The Private Equity portfolio suffered a net loss of €105.42m (2024: +€295.89m), mainly due to adverse USD→EUR exchange effects; the listed securities portfolio delivered a profit of €234.37m (2024: €125.09m) and benefited from dividends and strong technology exposure, notably AI-related names.

NAV and shareholder return

Net asset value per share rose from €141.36 to €144.24 in 2025 (≈+3% when considering the €1.37 distribution paid in May 2025). Market cap declined to €3,130m and the share total return for the year was -2.6% including the distribution.

Dividend proposal

The Board proposes a €1.46 per share distribution at the AGM (13 May 2026), a 6.6% increase over last year and the company’s 23rd consecutive annual increase, subject to shareholder approval.

Liquidity and financial structure

Brederode ended 2025 with a positive net cash position of €19.62m (versus net debt €69.91m at end-2024) and maintained confirmed credit lines of €350m.

Private Equity details

Private Equity fair value at 31/12/2025 was €2,653.21m (down from €2,873.57m), with investments €260.17m, disposals €405.73m and a negative change in fair value of €74.81m; uncalled commitments stood at €1,192.12m.

Listed portfolio activity

Listed portfolio value rose to €1,565.91m driven by €205.27m change in fair value and €29.43m net dividends. Notable moves: new/added positions in Atlas Copco (A) and Deutsche Börse, increased Experian, reduced Unilever, and sales of Nestlé and Sanofi; top holdings include Alphabet, Iberdrola and Mastercard.

Management succession & outlook

The Board proposes appointing Dimitri van der Mersch as director and the day-to-day management will be run by Dimitri and Nicolas-Louis Pinon; the company sees a cautiously improved macro backdrop for 2026 but remains attentive to geopolitical risks and continues a disciplined, long-term investment approach.

Summarized from source with an LLMView Source

Key figures

-6.15%1Y

9.15%3Y

-8.14%5Y

Performance

12.1%1Y

16.2%3Y

22.5%5Y

Volatility