Reinet final results March 2019
Total income for the year increased to EUR269 million (EUR262 million). Loss attributable to shareholders came to EUR145 million (loss of EUR843 million). Furthermore, headline loss per share came to EUR0.74 per share (headline loss of EUR4.30 per share).
The Board of Directors of Reinet Investments Manager S.A. proposes a dividend of EUR 0.19 per share, payable in September 2019. This represents an increase of 5.6 per cent over the dividend paid last year.
Changes to the board of overseers
Following the retirement of Mr Denis Falck from the Board of Overseers at the 2018 annual general meeting, the shareholders approved the appointment of Mr Stuart Robertson with effect from 1 October 2018. Mr Robertson is a Chartered Accountant and a former partner at KPMG based in Zurich.
With rising debt levels, global uncertainty and political divisions in both the USA and Europe, finding good opportunities for investment can be a challenge and protecting the downside becomes more important. In times of uncertainty, Reinet's approach is to maintain value for its shareholders over the long-term. Our focus will remain on businesses that we understand and business partners that we know and trust. In addition, the buyback programme allows Reinet to repurchase shares at prices substantially below the intrinsic value of the underlying assets. Reinet's Directors, Overseers and employees have continued to provide valuable support over the year, I thank them all for their commitment to Reinet's future development.