Reinet final results March 2018
Total income for the year shot up to EUR262 million (EUR166 million). Loss attributable to shareholders came to EUR843 million (profit of EUR813 million). Furthermore, headline earnings per share grew to EUR4.30 per share (EUR4.15 per share).
The board of directors of Reinet Investments Manager S.A. proposes a dividend of EUR 0.18 per share, payable in September 2018. This represents an increase of 9 per cent over the dividend paid last year.
Changes to the board of directors and board of overseers
Mr Eloy Michotte retired from the board of directors in May 2018 and Mr Denis Falck will retire from the board of Overseers at the annual general meeting in August 2018. Both gentlemen have given nearly 10 years of service to Reinet.
The last year has once again shown that we live in a very uncertain and unpredictable world. Political changes in many countries, significant fluctuations in currency values and in Reinet's instance the large decrease in the value of British American Tobacco shares were all unexpected. The ability of markets in general to withstand some of these shocks are tested regularly. Slowly rising interest rates and declining central bank support will add more risk and volatility to world markets. Reinet will remain focussed on investing for the long-term and maintain its prudent approach in order to mitigate these risks.
Many people across the Reinet organisation and its investee companies have contributed to Reinet's performance.