Compagnie du Bois Sauvage Reports Mixed Financial Results for 2023

Compagnie du Bois Sauvage has unveiled its 2023 annual results, highlighting a challenging year. The company reported an operating income before disposals, changes in fair value, and depreciations of EUR 32.9 million, a decrease from EUR 41.0 million in 2022. The net result for the group's share stood at EUR -27.8 million, a significant drop from EUR 108.1 million the previous year. Despite these figures, the proposed gross dividend is set at EUR 8.20 per share, slightly above last year's EUR 8.00 per share. The intrinsic value per share also saw a decrease to EUR 543.7 from EUR 558 in 2022.

The document credits the challenging economic climate, including inflation and high interest rates, as primary contributors to the fluctuating fortunes of the company, particularly affecting the real estate segment. However, it also notes areas of strength, such as the Chocolate Group, which saw a 7.9% increase in turnover, and the Industry and Services segment, which experienced growth in dividend income to EUR 9.8 million. The report also acknowledges losses, notably with Umicore's share price drop resulting in a notable fair value loss of EUR -37.3 million.

Looking ahead, Compagnie du Bois Sauvage expresses cautious optimism, noting the quality of its assets while remaining wary of short to medium-term challenges posed by ongoing high-interest rates and geopolitical concerns. The report concludes with forward-looking statements about its strategy and financial planning for the coming year.