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Financial results

Preliminary 

This section of the website provides a brief description of the statistical material presented in the most recent Annual Report (2022/2023). 
 
Key figures (up to 30 June 2023)

Balance sheet after profit distribution (in EUR million) 

ASSETS 3,654 LIABILITIES 3,654
Financial fixed assets 3,600 Contribution 2,022
Own shares 450 Reserves 1,458
cash 5  Creditors 174

Capital and shares

On 30 June 2023 KBC Ancora’s capital and reserves amounted to EUR 3,480 million. The company’s capital amounted to EUR 2,022 million and was represented by 78,301,314 shares, of which KBC Ancora repurchased 1,289,470 shares. 
 

Participation in KBC Group

On the balance sheet date, KBC Ancora held 77,516,380 KBC Group shares, representing a participating interest of 18.6% in KBC Group.

Net debt

As at the balance sheet date, KBC Ancora’s net debt (debt less total assets excluding financial fixed assets and repurchased own shares) amounted to EUR 170 million. Debts were largely due to EUR 173 million financial debts.

Income, expenses

KBC Ancora’s income consists almost entirely of dividends from its participating interest in KBC Group. 

KBC Ancora’s operating expenses break down into costs relating exclusively to KBC Ancora, such as costs incurred in connection with financial services, costs in relation to stock market listing, costs in connection with management activities and costs of creditors, and operating costs incurred through the cost-sharing agreement. The latter was created by KBC Ancora and Cera to enhance the cost-effectiveness of both parties’ operations.

The following tables summarise the trend in the income and expenses of KBC Ancora in recent financial years.
 
Result of KBC Ancora
(x EUR million)		 Financial year
2022/2023		 Financial year
2021/2022		 Financial year
2020/2021
Income 811.0 821.7 545.9
Operating income 0.0  0.0 0.1 
Recurring financial income (dividends from financial fixed assets) 310.9 821.7 34.1
Non-recurring financial income (reversal of impairments) 
 
 0.0 0.0 511.7
Expenses 12.1 16.9 16.2
Operating costs 3.0 3.3 2.4
Financial expenses 9.0 13.6 13.8
RESULT 289.9 804.8 529.7

Cash flows

The table below represents the cash flows for the last financial years. 
 
Cash flow table
(x EUR million)		 Financial year
2022/2023		 Financial year
2021/2022		 Financial year
2020/2021
Net cash flow -75.7 11.6 2.3
Indirect method
Cash position at start of year 75.9 64.3 62.0
Operating activities 303.9 817.3 31.8
Net result (excl. dividend income) -11.2 -16.8 495.6
Movement in net working capital -49.5 -4.4 0.0
Non-cash result (reversal of impairments)
 0.0  0.0 -511.7 
Reallocation of cash flows 54.6  16.9 13.8 
Dividends received 310.1  821.7  34.1 
Investing activities 0.0 0.0 0.0
Financial fixed assets 0.0 0.0 -511.7
Reversal of impairment of financial fixed assets 
 0.0  0.0 511.7
Financing activities -379.6 -805.7 -29.5
Financial liabilities -70.0 -100.0 0.0
Interest paid -9.1  -13.1 -13.8 
Distribution of interim dividend -254.9 -688.3 -15.7
Repurchase of own shares -45.7  -4.3 0.0 
Cash position at end year 0.2 75.9 64.3
 

Dividend 

Dividend history
The table below summarizes result, recurring result (i.e. after adjustment for reversal of impairments) and total gross dividends paid by KBC Ancora over the past 10 financial years.
Financial year Result per share (in euro)
 
 Recurring result per share (in euro)

 Dividend per share (in euro)
2022/2023 3.81 3.81 3.31
2021/2022 10.28 10.28 8.79
2020/2021 6.76 0.23 0.20
2019/2020 0.78 0.78 -
2018/2019 3.24 3.24 3.08
2017/2018 2.75 2.75 2.61
2016/2017 10.77 2.51 2.13
2015/2016 -0.27 0.27 -
2014/2015 1.71 1.71 1.36
2013/2014 0.34 -0.56 -