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Power Financial Europe B.V., a wholly owned subsidiary of Power Financial, and the Frère Group each hold a 50% interest in Parjointco, a Netherlands-based company. Parjointco’s sole holding is a 55.5% equity interest (75.4% of the voting rights) in Pargesa Holding SA, the Pargesa group’s parent company based in Geneva, Switzerland.*

Pargesa, through its subsidiary, Groupe Bruxelles Lambert (GBL), has holdings in global industrial and services companies based in Europe. 


* In March of 2020, Parjointco and Pargesa announced a proposed transaction that would simplify the group structure. Parjointco is initiating a public exchange offer for all Pargesa shares not already owned by Parjointco to be exchanged for GBL shares. The offer, which is subject to certain restrictions, is open for acceptance from May 8 to June 8, 2020. Following the completion of the transaction Pargesa’s shares are to be delisted from the SIX Stock Exchange and Parjointco is expected to retain de facto control and maintain approximately the same economic equity interest in GBL of 28%.

Pargesa Holding Website

Latest reports
2019 Annual Report
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2019 Half-Year Report
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Listed Investments

Groupe Bruxelles Lambert

Groupe Bruxelles Lambert

Groupe Bruxelles Lambert (GBL) is a leading investor in Europe, focusing on long-term value creation and relying on a stable and supportive family shareholder base.

GBL strives to maintain a diversified high-quality portfolio composed of global companies, leaders in their sector, in which it can contribute to value creation by being an engaged professional investor. GBL seeks to provide attractive returns to its shareholders through a combination of a sustainable dividend and growth in its net asset value.

adidas

adidas

adidas is a global leader specialised in the design, development, production and distribution of sporting goods (footwear, clothing and equipment). The group’s business is built around two main brands: adidas and Reebok. Distribution is done through its own stores retail network, e-commerce and independent distributors.

Pernod Ricard

Pernod Ricard

Since its inception in 1975, Pernod Ricard has built up the most premium portfolio in the industry and has become the world’s number two player in the Wine & Spirits market through organic growth and acquisitions, including Seagram in 2001, Allied Domecq in 2005 and Vin&Spirit in 2008. This portfolio includes notably 13 strategic international brands, 15 strategic local brands, ‘specialty’ brands and 4 premium wine brands, produced and distributed by the group through its own worldwide distribution network.

SGS

SGS

SGS is the world leader in inspection, verification, testing and certification. SGS provides tailored inspection, verification, testing and certification solutions to its customers to make their commercial activities faster, simpler and more efficient. Its worldwide network consists of more than 94,000 employees at more than 2,600 offices and laboratories.

LafargeHolcim

LafargeHolcim

LafargeHolcim, the product of the merger between Lafarge and Holcim, made official in July 2015, is the world leader in construction materials. The company offers the most innovative cement, aggregates and concrete solutions to meet its customers’ needs. The group employs over 70,000 persons in over 70 countries and has a balanced presence in developing and mature markets.

Umicore

Umicore

Umicore is a leader in materials technology and recycling of precious metals. Its activity is focused on application fields where its expertise in materials science, chemistry and metallurgy is widely recognized. It is centered on three business groups: Catalysis, Energy & Surface Technologies and Recycling.

Imerys

Imerys

Imerys is the world leader in mineral-based speciality solutions for industry with 224 industrial sites in over 40 countries. Imerys extracts, transforms, develops and combines a unique range of minerals to provide functionalities that are key to its customers’ products and production processes. These specialities have a very wide range of uses and are becoming more common on growing markets.

GEA Group

GEA Group

GEA is one of the largest suppliers of process technology to the food industry. GEA is a world leader in the supply of equipment and project management for a wide range of processing industries. Its technology focuses on components and production processes for various markets particularly in the Food & Beverage sectors. The company employs about 18,500 people worldwide.

Ontex

Ontex

Ontex is a leading international personal hygiene solutions provider. Ontex is a growing international group specialised in hygienic products for baby, adult and feminine care. Ontex products are distributed in more than 110 countries under the company's own brands and retailer brands. The main sales channels are retail trade, medical institutions and pharmacies.

Private Assets

Webhelp

Webhelp

Webhelp is the European leader in the customer relationship management (CRM) and business process outsourcer (BPO) space. Webhelp is a global BPO, specializing in customer experience, sales and marketing services and payment services. Services are delivered across all channels including voice, social media and digital channels. From more than 150 sites in 36 countries with an approximately 50,000-strong team, Webhelp’s focus is on engineering performance improvements and delivering a lasting transformation in its clients’ operating models to further enhance customer experience and drive efficiency gains.

Parques Reunidos

Parques Reunidos

Parques Reunidos is a leading operator of leisure parks with a global presence. Since its inception in 1967 as a small-sized Spanish operator, Parques Reunidos has become one of the leading operators of leisure parks in Europe and the United States, through organic growth and multiple acquisitions, including Bobbejaanland (Belgium, 2004), Mirabilandia (Italy, 2006), Warner (Spain, 2007), Palace Entertainment (US, 2007) and Tropical Islands (Germany, 2018). The company operates amusement, animal and water parks with a portfolio of regional and local parks, which have strong local brands.

Sienna Capital

Sienna Capital

Sienna Capital, GBL’s alternative investments platform, aims at generating superior risk-adjusted returns by building a select portfolio of investment managers delivering a strong performance in their area of expertise (e.g. private equity, debt and specific thematic funds) as well as opportunistic direct investments and co-investments with managers on the Sienna Capital platform and first-in-class external managers.


Financial Highlights

 

For the three months ended

For the years ended

(In millions of swiss francs, except per share amounts or as otherwise noted)
(unaudited)

March 31
2020

Dec. 31
2019

March 31
2019

Dec. 31
2019

Dec. 31
2018

Consolidated net income, group share 

6.1 75.0

91.0

391.3

361.4

Per share

0.07 0.89 1.07 4.62

4.27

Operating income(1) 10.8 139.0 93.5 492.0

317.2

Per share(1)

0.13 1.64 1.10 5.81

3.75

Non-operating income(1) (4.7) (64.0) (2.5) (100.7)

44.2

Gross dividend

- - - 2.63

2.56

Market capitalization at year-end

 

 

 

6,814

6,001

Net asset value(1)

8,300 10,946 10,179 10,946

8,973

Average number of shares (thousands)

84,702 84,701 84,699

84,701

84,689

(1) Non-IFRS financial measures. Refer to Pargesa’s most recent financial results press release for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures. 

As at and for the years ended December 31
[In millions of swiss francs, except as otherwise noted]
(unaudited)

2019

2018

2017

2016

2015

Global data

         

Consolidated shareholders’ equity, group share

10,798

8,766 9,599 7,863

7,011

Operating income(1)

492.0

317.2 384.2 320.9

308.4

Non-operating income(1)

(100.7)

44.2 (2.2) (352.9)

329.8

Consolidated net income, group share

391.3

361.4 382.0 (32.0)

638.2

Market capitalization at year-end

6,814

6,001 7,154 5,613

5,376

Net asset value at year-end(1)

10,946

8,973 10,851 8,884

7,970

Number of shares entitled to dividend (in thousands)

84,701

84,698 84,664 84,659

84,659

Per share data

         

Share price   — Year-end

80.45

70.85 84.50 66.30

63.50

— High

82.70

94.05 85.25 68.25

76.95

— Low

67.85

66.80 64.75 54.50

55.95

Consolidated shareholders’ equity, group share

127.48

103.49 113.37 92.88

82.81

Net asset value at year-end(1)

129.23

105.94 128.16 104.93

94.14

Operating income(1)

5.81

3.75 4.54 3.79

3.64

Non-operating income(1)

1.19

0.52 (0.03) (4.17)

3.90

Consolidated net income, group share

4.62

4.27 4.51 (0.38)

7.54

Gross dividend

2.63(2)

2.56 2.50 2.44

2.38

(1) Non-IFRS financial measures. Refer to Pargesa’s most recent financial results press release for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures. 
(2) Recommendation at Pargesa’s Annual General Meeting on May 6, 2020.

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