Sofina SA

SOF

Equity

ISIN BE0003717312 / Valor 836222

Euronext - Euronext Brussels (2026-01-23)

EUR 243.40-0.90%

Sofina SA
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About company

Sofina SA, with a history stretching back over 125 years, has evolved from its origins as an engineering conglomerate to become a prominent investment company. It is publicly traded on Euronext Brussels, where it specializes in deploying patient capital into burgeoning companies across the globe. The firm's investment strategy is characterized by its long-term commitment to the businesses it invests in, focusing on partnerships with entrepreneurs and management teams that share its vision and values. Sofina's portfolio is geographically diverse, with significant equity holdings in Europe, Asia, and the United States, reflecting its broad outlook on investment opportunities and its aim to foster growth and innovation in a variety of sectors.

Summarized from source with an LLMView SourceSector: Finance

Headline NAV and earnings

NAV 30/06/2025: EUR 9,811m (EUR 296.38/share) vs EUR 10,305m (EUR 311.77/share) at 31/12/2024. Net result (share of the group) 1H 2025: ‑EUR 394m (‑EUR 11.90/share) vs +EUR 551m in 1H 2024.

Underlying portfolio performance

Sofina reports operational strength across holdings: value creation at largest assets, growth in scale‑ups and momentum in early‑stage companies. Private equity funds returned to growth in local currency and distributions increased — but currency translation (mainly USD weakening) materially reduced reported NAV.

Investment and divestment activity

Main new investments: Proeduca (ES), Berry Street (US), The Whole Truth (IN), OrganOx (UK), Scalable Capital (DE). Main divestments: GL events (FR, full), First Eagle Investments (US, full; closed after 30/06/2025), ByteDance (CN, partial), bioMérieux (FR, partial), SES (LU, partial). Post‑closing: OrganOx full divestment and partial SES divestment (subject to usual conditions).

Balance sheet and liquidity

Investment portfolio: EUR 9,954m. Net debt of EUR 76m (gross cash EUR 621m; financial liabilities EUR 697m). Loan‑to‑value at 0.8% (vs ‑3.3% at 31/12/2024), indicating low leverage relative to portfolio fair value.

Cash flow / activity levels

1H 2025 investments into the portfolio: EUR 650m; divestments: EUR 384m. Dividends received: EUR 18m. Net result of the investment portfolio for 1H 2025: ‑EUR 379m (vs +EUR 564m in 1H 2024).

Management commentary and outlook

CEO Harold Boël underscores continued investment momentum, selective realisations and active sourcing of new opportunities. Sofina emphasises a long‑term, non‑cyclical strategy focused on operational growth and innovation while noting exposure to market sentiment and currency fluctuations.

Summarized from source with an LLMView Source

Key figures

-0.73%1Y

9.54%3Y

-11.3%5Y

Performance

26.3%1Y

26.4%3Y

28.4%5Y

Volatility