Ackermans & Van Haaren NV (ACKB) Earnings Call Transcript & Summary

Ackermans & Van Haaren celebrates its 150th anniversary in 2026, and it pleased to start this milestone year by announcing a very strong set of financial results of 2025.

Our net profit of EUR 593 million is 29% higher than last year. We increased the equity per share by 10.3%. The contribution of our core segments increased by more than 25% for the second consecutive year. As these results were realized in very challenging market conditions, they underlined the resilience of the AvH portfolio.

Delen Private Bank and Bank Van Breda increased their combined net profit by 11%. The lasting synergies between both banks generated strong gross inflows of client assets, complemented by the successful acquisitions in Belgium and the Netherlands. This resulted into an unprecedented high level of total client assets amounting to an EUR 87.5 billion. Against the backdrop of turbulent market conditions, DEME delivered an outstanding performance with a turnover that exceeded once again the EUR 4 billion mark, and with a net profit that increased by 20%. DEME has further reinforced its market position through the acquisition of the Norwegian offshore wind contractor, Havfram. SIPEF produced a record volume of 442,000 tonnes of sustainable palm oil in 2025, and benefited from a favorable pricing environment. This translated into a massive cash flow from operations and into a net profit that is 90% higher than in 2024. Even with its extensive investment program, SIPEF ended 2025 with a positive net cash position. The growing output from an increasing number of maturing hectares allow SIPEF to deliver solid results. Nextensa has substantially improved its profitability and accelerated its strategic repositioning by successfully divesting several real estate assets and by existing its position in Retail Estates. This strengthen Nextensa's capacity to finance the next phase in its developments. Although some of our participations in growth capital were not immune to challenging market conditions and currency fluctuations, this segment has shown a strong improvement with a positive contribution in 2025. AvH also invested directly in the expansion of its portfolio by acquiring a participation in VKC Nuts, the market leader in the fast growing nuts and dried fruit sector in India. And in DISCO Pharmaceuticals, a research company that discovers targets on the surface of cancer cells. AvH also increased its stakes in Nextensa and SIPEF.

Our core participations have not only maintained but in many cases further strengthened their market positioning. Our overall portfolio also remains extremely robust. The strong balance sheets of our participations and the solid net cash position of EUR 429 million at the AvH level position us well for further growth. Despite ongoing market volatility and geopolitical uncertainty we expect AvH's net profit for 2026 will be in line with the record results achieved in 2025. We would like to thank our management teams and our 25,000 collaborators across the group. Their dedication and commitment to client service and innovation have been fundamental to our sustained growth and success as we mark our 150th anniversary.