"During the first half of 2026, the value of the TINC portfolio increased to approximately €850 million, including outstanding investment commitments. Through new investments, including in battery energy storage systems, and additional investments in our existing portfolio companies, we strengthen the diversification of the portfolio. Meanwhile, the societal need for infrastructure investments remains significant. TINC is exploring opportunities to increase its capacity for new investments through selective – full or partial - portfolio rotation. This is fully aligned with our strategy to further increase the share of corporate infrastructure investments within the portfolio. In doing so, we continue to build sustainable value creation for our shareholders." Manu Vandenbulcke, CEO
"TINC continues to consistently execute its growth strategy. The investments made during the past period have not only increased the size of the portfolio, but have also enhanced diversification across sectors, technologies and countries. This broader diversification further strengthens the resilience of the portfolio. Thanks to this long-term approach, TINC remains well positioned to meet tomorrow’s major infrastructure challenges while creating sustainable shareholder value." Philip Maeyaert, Chairman of the Supervisory Board
Highlights
- The portfolio result for the first six months of the current financial year ending 31 December 2026 amounts to €31.4 million (or an annualised portfolio return of 8.81%). This results in a net profit of €25.9 million or €0.53 per share;
- Total cash receipts from the portfolio amount to €27.9 million, including the proceeds from the sale of the participation in Zelfstroom;
- Shareholders’ equity amounts to €634.7 million or €13.09 per share (€637.5 million or €13.15 per share as at 31 December 2025). This represents an increase of 4.2%, making abstraction of the distribution paid to shareholders in May 2026 of €28.6 million or €0.59 per share;
- The investment portfolio includes 33 participations in Belgium, France, Ireland and the Netherlands with a fair value of €765.1 million (+7.3% compared to 31 December 2025). The portfolio is valued using a weighted average discount rate of 9.26% (9.19% as at 31 December 2025);
- During the reporting period, TINC committed €23.3 million to a new participation, Storm BESS. This investment relates to two greenfield battery energy storage system (BESS) projects in Belgium;
- TINC invested €48.3 million in execution of both existing and new investment commitments. These investments relate to the new participation Storm BESS (BE) and to existing participations Garagepark (NL), GlasDraad (NL), Higher Education Buildings (IRE), Project Mufasa (NL), Storm Group (BE), Storm Wind Belgium (BE) and Yally (BE);
- Outstanding contracted investment commitments amount to €81.1 million at the end of the reporting period. Through the combination of the current portfolio and these commitments, the portfolio of TINC will grow over time to approximately €846 million. TINC therefore remains on track to double its investment portfolio to €1 billion;
- Net debt amounts to €130.8 million at the end of the reporting period. TINC has €300 million revolving credit facilities, of which €131.7 million was drawn on 30 June 2026;
- For the current financial year ending on 31 December 2026, TINC proposes a gross shareholder distribution of €0.60 per share. Subject to approval by the General Meeting, the distribution is expected to be made in May 2027;
- Recently, the mandates of Martine De Rouck and Elvira Haezendonck as directors of TINC Manager NV, the statutory director of TINC, have been renewed, and Gery Milants and Cedric Dierckx have been appointed as directors. Marc Vercruysse is stepping down after many years of service at TINC. The Supervisory Board now consists of nine members, including three independent directors;
â - The interim report as at 30 June 2026 is available on the website of TINC: www.tincinvest.com.
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