Reinet Investments Reports Q1 2024 Financial Performance

The Board of Directors of Reinet Investments Manager S.A. has released the financial results of Reinet Investments S.C.A. for the quarter ending 30 June 2024.

As of 30 June 2024, Reinet's net asset value (NAV) reached €6.3 billion, up from €6.2 billion at 31 March 2024. This marks a 1.6% increase over the quarter, with a NAV per share rising to €34.56 from €34.02. Key contributions to the NAV included dividends of €34 million from British American Tobacco and €85 million from Pension Insurance Corporation Group Limited.

Reinet's investments remain diversified, with significant holdings in British American Tobacco (€1.386 billion) and Pension Insurance Corporation Group Limited (€3.401 billion). However, a slight decrease in fair value for some investments, including Pension Corporation and NanoDimension funds, impacted the overall growth.

The company reported that there was no share buyback program active during the quarter. The share price saw a notable increase of 7.2%, climbing from €22.20 to €23.80.

Reinet remains cautious concerning global geopolitical events and maintains that it has not experienced significant direct impacts related to interest rate fluctuations or inflation.