Quarterly trading update on the current state of affairs of the main group companies
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(2) Embargo until November 22nd – 8.00 a.m.. BANK J.VAN BREDA & C° realises a further growth of its franchise, both in terms of the number of clients as well as in terms of the assets under management and fee income. In line with the trend of the first 6 months, the results remain subject to the inverse yield curve leading to a decrease in the interest income. Meanwhile, Bank J.Van Breda & C° has made a small acquisition by taking over the customer portfolio of the self-employed inland shipping contractors of Ethias Bank. This customer portfolio represents about € 100 million in loans and € 45 million in deposits. As indicated earlier, the pressure on the interest margin and the higher commercial charges are temporarily impacting the result of the current financial year. Neither Bank Delen nor Bank J.Van Breda & C° have subprime loans or other derived risks (CDOs, conduits, etc.) in their portfolios. PRIVATE EQUITY The participation in Distriplus (37% beneficial AvH) is included for the first time in the 3rd quarter of 2007. The fair value of the private equity portfolio of both Sofinim and GIB evolved positively for almost all participations. In addition, a capital gain of € 14.9 million (AvH part) was realised on the contribution of UBF in the EuroMediaGroup (EMG). Sofinim thus acquires a 22% stake in a group (78 studios and 45 outside broadcast units) which represents a turnover of approximately € 300 million for a (pro forma 2007) EBITDA of approximately € 50 million.. AvH & Subholdings The net cash position of AvH on 30/09/2007 amounted to € 366.0 million (compared to € 423.0 million on 30/06/2007). This position takes into account the investment activity during the 3rd quarter (€ 67 million in private equity, € 60 million capital increase of Bank Delen) as well as cash proceeds and stock market fluctuations of the investment portfolio. Prospects 2007 Except in case of unforeseen circumstances and based on the good operational progress of affairs of the group companies in the first nine months 2007, the Board of Directors confirms its expectation for a further strengthening of the current result of the group.. WorldReginfo - e45ecd1c-6e91-470a-a3e8-829adc231f97. The sale of Corn Van Loocke to Umicore will lead to a capital gain of approximately € 3.5 million in the 4th quarter of 2007..
(3) Embargo until November 22nd – 8.00 a.m.. Calendar 2008 7 March 2008 26 May 2008 28 August 2008 27 November 2008. announcement of the annual results 2007 annual shareholders’ meeting and quarterly update Q1 2008 announcement of the semestrial results 2008 quarterly update Q3 2008. Ackermans & van Haaren is a diversified group active in 4 key sectors: dredging, environmental and construction services (DEME, one of the largest dredging companies in the world - Algemene Aannemingen Van Laere, a leading contractor in Belgium), Real Estate and related services (Leasinvest Real Estate, a listed realestate investment trust with real estate assets of approximately € 450 million – Extensa, an important land and real estate developer focused on Belgium, Luxemburg and Central Europe), private banking (Bank Delen, one of the largest independent private banks in Belgium – Bank J.Van Breda & C°, niche bank for entrepreneurs and liberal professions) and private equity (Sofinim, one of the largest private equity providers in Belgium, and GIB). The group concentrates on a limited number of strategic participations with an important potential for growth. Market capitalisation of AvH is approximately € 2.2 billion. Since March 2nd 2007, the AvH share has been included in the reference index BEL20 of Euronext Brussels. All press releases issued by AvH and its main group companies as well as the ‘Investor Presentation’ can also be consulted on the AvH website: www.avh.be. For further information please contact:. Jan Suykens Member of the Executive Committee tel: +32.3.897.92.36 e-mail : dirsec@avh.be. WorldReginfo - e45ecd1c-6e91-470a-a3e8-829adc231f97. Luc Bertrand CEO – President of the Executive Committee tel: +32.3.231.87.70 e-mail : dirsec@avh.be.
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