Interim report first semester financial year 2019-2020

Highlights

• The net profit over the first half year of the financial year amounts to € 10,2 million or € 0,36 per share;

• TINC confirms its distribution policy and aims for a gross distribution of € 0,51 per share for the current financial year;

• The Fair Value (FV) of the portfolio stands at € 315,4 million, a 18,1% increase since the end of the previous financial year. The portfolio includes 19 participations located in Belgium, the Netherlands and Ireland;

• The cash position of TINC stands at € 119,9 million, after the € 112,7 million  capital increase in December 2019;

• The Net Asset Value (NAV) increases to € 438,4 million or € 12,06 per share (€ 331,3 million or € 12,15 per share on June 30, 2019) and this after deduction of the distribution to shareholders of € 13,6 million or € 0,50 per share in October 2019;

• During the reporting period, TINC made new investment commitments for an amount of € 60 million. This includes a participation in the wind farm Kroningswind (NL) for an amount of € 40 million, and an extension of the ongoing  investment program for the roll-out of fiber networks (FttH) by Glasdraad BV (NL) for an amount of € 20 million;

• During the reporting period, TINC has made € 43,1 million cash investments in wind farm Kroningswind, the wind portfolio of Storm Flanders, the PPP project “Princess Beatrix Lock” and fiber company Glasdraad BV;

• The outstanding contracted off-balance investment commitments to both existing and new additional portfolio companies amount to € 59,5 million. Through the combination of the existing portfolio and the outstanding contracted off-balance investment commitments, the portfolio of TINC will grow over time to circa € 375 million.