Regulated information, Leuven, 3 May 2013 (17.40 hrs CEST)
Interim statement for
third quarter of financial year 2012/2013
KBC Ancora is expected to close the current financial year with a profit of approximately EUR 50 million. As the loss carried forward at the end of the last financial year amounted to approximately EUR 60 million, no dividend will be distributed for the current financial year.
The net debt per share amounted to EUR 8.32 as at the end of March 2013.
Key events in the past quarter
The assets of KBC Ancora consist almost entirely of a participating interest of 19.7% in KBC Group. On 14 February 2013, KBC Group announced a net profit of EUR 612 million for the financial year 2012. KBC Group's underlying result amounted to EUR 1.54 billion.
At the General Meeting of Shareholders held on 2 May 2013, the shareholders of KBC Group approved a gross dividend for the financial year 2012 of EUR 1.00 per KBC Group share. This means that KBC Ancora will receive dividends totalling EUR 82.2 million on 16 May 2013.
KBC Ancora is expected to close the current financial year with a positive result of approximately EUR 50 million. As this result has to be set off against the loss carried forward at the end of the previous financial year (EUR -60.1 million) when determining the result available for distribution, KBC Ancora will not itself distribute a dividend. The net cash position for the financial year will be used to reduce the short-term debt.
Participating interest in KBC Group, net debt position and net asset value
KBC Ancora did not buy or sell any KBC Group shares in the first nine months of the current financial year, and holds 82,216,380 KBC Group shares.
On 31 March 2013 the net asset value of the KBC Ancora share corresponded to 1.05 times the price of the KBC Group share, less the net debt of EUR 8.32 per share. The net debt per share increased over the last quarter by EUR 0.10, primarily due to pro rata interest charges on outstanding loans.
Based on the closing price of the KBC Group share on 31 March 2013 (EUR 26.87), the net asset value of one KBC Ancora share amounted to EUR 19.89, and the KBC Ancora share (EUR 13.46) was trading at a discount of 32.3% to the net asset value.
Based on the closing price of the KBC Group share on 2 May 2013 (EUR 30.40), the net asset value of one KBC Ancora share amounted to EUR 23.60 and the KBC Ancora share (EUR 14.69) was trading at a discount of 37.8% to the net asset value.
Responsibility for preparing this interim statement
This interim statement was compiled under the responsibility of the Board of Directors of Almancora Société de gestion SA, statutory manager of KBC Ancora. The figures presented in this statement have not been audited.
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KBC Ancora is a listed company which holds almost 20% of the shares in KBC Group and which together with Cera, MRBB and the Other Permanent Shareholders is responsible for the shareholder stability and further development of the KBC group. As core shareholders of KBC Group, these parties have signed a shareholder agreement to this effect.
Financial calendar
30 August 2013 Annual press release
25 October 2013 General Meeting of Shareholders
This press release is available in Dutch, French and English on the website www.kbcancora.be.
KBC Ancora Investor Relations & Press contact: Jan Bergmans
tel.: +32 (0)16 27 96 72
fax: +32 (0)16 27 96 94
e-mail: jan.bergmans@kbcancora.be
