Sofina Sa · EURONEXT:SOF
Sofina Sa — H1 2023 Earnings Presentation
16 slides from Sofina Sa's earnings presentation, Sep 5, 2023
Slide 1: Sofina Half-Year Results 2023
SOFINA HALF-YEAR RESULTS 2023 September 2023
Slide 2: Presenting today
Presenting today HAROLD BOEL Chief Executive Officer Pa SOFINA
Slide 3: Our mission
Our mission 6¢ We aspire to partner with leading entrepreneurs and families, backing them with patient capital and supportive advice to foster sustainable growth of their businesses. 31 SOFINA
Slide 4: Sofina at a glance
Sofina at a glance What makes us unique RELIABILITY ... Family-run Patient capital Diversification Investment company Reliable partner Across sectors, with #120 years through economic geographies and history cycles investment styles Purpose-driven Strong partnerships Teamwork Helping companies build
Slide 5: Performance, NAV, Investments
Stability in foundations and ability to invest across cycles Performance • Underlying businesses creating growth and value • Synergies across group NAV • Stabilized despite turmoil • Ongoing market adjustments Investments • Lower level of activity • Opportunities to reinforce existing portfolio • Se
Slide 6: Overview of the Half-year 2023
Overview of the Half-year 2023 in million EUR 30/06/2023 31/12/2022 FINANCIAL STATEMENTS - OVERVIEW OF THE YEAR Total Assets 9,947 10,198 Net Asset Value 9,215 9,313 Net Asset Value per share (in EUR) (1) 277 279 BALANCE SHEET IN TRANSPARENCY Investment portfolio 9,061 9,062 Sofina Direct 4,847 4,76
Slide 7: Average annual return
EVOLUTION OF THE SHARE PRICE AND THE NAV PER SHARE OVER THE LAST 20 YEARS (IN EUR)(1) +28% 450 400 NAV- vs price per share 350 300 250 -31% 200 150 100 50 0 2004 2007 2008 2021 2023 Price per share NAV per share 10,6% 11,7% 10,7% 10,4% 15% 10,2% 9,9% 8,6% 10% Average annual return 5% 0% 1 year 4 yea
Slide 8: Portfolio bridge H1 2023
Portfolio bridge H1 2023 22 84 172 146 4.847 ,133 4.760 4,133 4,116 NAV 31/12/2022 Investments Divestments & Revenues Market impact FX impact NAV 30/06/2023 Value creation(1) +3% (1) Fair value at the end of the period + Divestments and revenues of the period divided by Fair value at the beginning o
Slide 9: Direct NAV performance bridge
Listed market impact of +15% while the unlisted multiples impact of ~+2%. MSCI World year-to-date at +9.9%. Direct NAV performance bridge Listed(*) Unlisted(*) Both 4,760 4,847 6% -4% 0% 2% -3% -1% 15% 644 714 4,116 4,133 NAV 31/12/2022 Market impact (1) Multiples impact (2) Performance impact Other
Slide 10: Breakdown of the portfolio in transparency
Breakdown of the portfolio in transparency (1) BY SECTOR BETWEEN LISTED AND UNLISTED INVESTMENTS (1) Based on the fair value of the Sofina Group's investments as on 30 June 2023 (portfolio in transparency) 10 I
Slide 11: Portfolio bridge H1 2023
Portfolio bridge H1 2023 155 127 44 72 4.302 4.214 NAV 31/12/2022 Capital calls Distributions Market impact FX Impact NAV 30/06/2023 Value creation(1) -3% (1) Fair value at the end of the period + Divestments and revenues of the period divided by Fair value at the beginning of the period + Investmen
Slide 12: Breakdown of the portfolio in transparency
Breakdown of the portfolio in transparency (1) BY STRATEGY BY GEOGRAPHIC REGION (1) Based on the fair value of the Sofina group’s investments as at 30 June 2023 (portfolio in transparency). At closing date, Sofina had 496 funds in its 12 I portfolio.
Slide 13: The largest investments of Sofina Direct and Private Funds
THE 10 LARGEST INVESTMENTS OF SOFINA THE 10 LARGEST GENERAL PARTNERS OF DIRECT REPRESENT 27% OF ITS NET ASSET SOFINA PRIVATE FUNDS REPRESENT 24% VALUE (1) OF ITS NET ASSET VALUE (2) 1 SC CHINA CO-INVESTMENT 2016-A (BYTEDANCE) 1 SEQUOIA CAPITAL (US, CHINA & INDIA) 2 GROUPE PETIT FORESTIER 2 LIGHTSPEE
Slide 14: Reinforcements
Sofina Direct – Long-term minority investments and Sofina Growth Europe Asia U.S. investments New Reinforcements Full and partial exits 14 I
Slide 15: Sofina Private Funds portfolio – Investments in venture and growth capital funds
Sofina Private Funds portfolio – Investments in venture and growth capital funds NEW COMMITMENTS IN NEW MANAGERS ADDED SELECTED EXISTING PORTFOLIO MANAGERS TO OUR PORTFOLIO 15 I
Slide 16: Sofina contact details
SOFINA Société Anonyme Rue de l’Industrie, 31 B – 1040 Brussels Tel.: +32 2 551 06 11 [email protected] – www.sofinagroup.com