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| Closing Price 17/5/2012: 50.15 |
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Printing under PDF format Groupe Bruxelles Lambert 3 March 2011 – After 17:45 Regulated information
The Board of Directors, meeting on
3 March 2011, approved GBL's IFRS consolidated financial statements for the
year 2010. These accounts have been approved unconditionally by the Auditor
Deloitte. Annual financial report GBL's 2010 Annual Financial Report,
available on the group's website (http://www.gbl.be), offers shareholders more detailed information. Key
financial data are summarized succinctly below. Consolidated profit (IFRS)
on 31 December 2010 stood at EUR 641 million, compared with EUR 1,058
million in 2009, which included a large number of non-recurring elements, in
particular net reversals of impairments of EUR 415 million and exceptional
dividends of around EUR 140 million. The review of the group’s participations valuation has not brought any
change in their consolidated value as per 31 December 2010. Cash earnings
amounted to EUR 565 million compared with EUR 604 million the previous year.
GBL received in 2009 an exceptional dividend from GDF SUEZ of EUR 94 million
and the reimbursement of withholding at the source on dividends of EUR 48
million. Excluding these elements, cash
earnings increased by 22 % year on year. At the end of December 2010, GBL had net cash of EUR 510 million, i.e.:<
EUR 930 million in cash/quasi cash
less EUR 420 million in net debt. This debt does not include the company's
private equity commitments, which at end December amounted to EUR 443 million. GBL
also holds confirmed credit lines in the amount of EUR 1.8 billion, of which
half have been extended to 2016 from their initial expiry dates of 2013/2014. Readers interested in an overview
of GBL's activities, performance and results in 2010 may refer to the section
entitled Selected Financial Information on
page 6 of this report. Dividend The Board will submit to the Ordinary
General Meeting of shareholders, on 12 April 2011, a proposal for a 2010 gross
dividend of EUR 2.54 per share (payable as from 19 April 2011), a 5.0 %
increase over the amount of EUR 2.42 paid for the previous year. The coupon nr 13 will be clipped on 14 April
2011. The deadline for depositing GBL shares in order to participate at the 2011
General Meeting is 7 April 2011. As a
reminder, since 1 January 2011, rights in the company attaching to bearer
shares have been suspended, including the right to dividends, until the dematerialization
of these shares through their registration in a securities account in a bank or
in the list of registered shareholders. In both cases, shareholders are asked
to carry out the necessary formalities at their financial institution. Adjusted
net assets Based on
161,358,287 shares, adjusted net assets per share on 31 December 2010 amounted
to EUR 88.77 compared to EUR 94.40 on 31 December 2009. The
share price of EUR 66.62 on 25 February 2011 shows an increase over its level
of EUR 62.93 on 31 December 2010.
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