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2024-01-23 10:23 AM

Reinet Investments Reports Strong Q3 2023 Results

  • Reinet Investments reports a 2.1% increase in Net Asset Value to €5,733 million, reflecting solid growth.
  • NAV per share reaches €31.54, showcasing the company's resilience and consistent performance.
By Lethabo Ntsoane

Luxembourg-based Reinet Investments S.C.A. (JSE: RNI) has announced robust financial results for the third quarter ending December 31, 2023, reflecting positive growth and strategic investments.

Financial Highlights:

In a management statement released on January 23, 2024, Reinet reported a Net Asset Value (NAV) of €5,733 million, showcasing a compound growth rate of 8.5% per annum in euro terms since March 2009, including dividends paid. The NAV witnessed a notable increase of €117 million (2.1%) from €5,616 million at the end of September 2023. The NAV per share as of December 31, 2023, stands at €31.54, demonstrating the company’s resilience and performance in a dynamic market.

Key Financial MetricsAmount (€ million)
Net Asset Value (31 Dec 2023)5,733
Increase from Sep 2023+117 (2.1%)
NAV per Share (31 Dec 2023)€31.54

Strategic Commitments and Investments:

During the quarter, Reinet made commitments totaling €6 million for both new and existing investments. A noteworthy aspect is that these commitments were backed by a total funding of €50 million, highlighting the company’s active stance in seizing investment opportunities.

Investment CategoryAmount (€ million)
Total Commitments6
Total Funded50

Dividends and Income:

Reinet’s financial performance was further reinforced by dividends received during the period. Dividends from British American Tobacco amounted to €32 million, contributing to the overall income and financial stability of the company.

Share Performance:

Reinet’s ordinary shares, listed on the Luxembourg Stock Exchange, Euronext Amsterdam, and the Johannesburg Stock Exchange (JSE), displayed resilience in the market. The JSE listing, although secondary, underscores the company’s commitment to a diverse and global investor base.

Stock InformationValue/Code
JSE Share CodeRNI
ISINLU0383812293

Market Recognition:

Reinet’s ordinary shares are included in the ‘LuxX’ index, a notable index of principal shares traded on the Luxembourg Stock Exchange. This inclusion reflects the company’s significance in the European financial market.

Conclusion:

Reinet Investments S.C.A.’s robust performance in Q3 2023 positions the company as a stable and promising player in the investment landscape. With strategic commitments, dividend income, and a solid market presence, Reinet continues to navigate the financial terrain successfully.

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Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo