Ελληνικά
ALPHA TRUST-ANDROMEDA Investment Trust S.A. released annual 2023 results today.
The Company’s key figures for FY 2023 were:
The Company’s gross income amounted to profits of € 8.92 million, vs. losses of € 0.35 million for the same period last year. Gross income mostly reflects profits from valuation of securities at fair value based on IFRS amounting to € 4.6 million, profits from the purchase and sale of securities amounting to € 3.39 million and gains from portfolio revenues amounting to approximately € 0.93 million euro.
Profits before tax amounted to € 6.54 million compared to losses of € 1.11 million for the same period last year.
Profits after tax amounted to € 6.40 million vs. losses of € 1.13 million for the same period last year.
The Company’s Net Asset Value (N.A.V.) increased by 26.41% in FY 2023, amounting to € 29.95 million or € 8.37 per share as at 31.12.2023.
At the end of FY 2023, the Company’s portfolio was wholly invested in Greece, by 96.61% in ATHEX listed shares and 3.39% in fixed income securities and cash.
On March 15th, 2024, the stock price closed on the Athens Stock Exchange at € 7.04 which corresponds to a discount of 20.43 %.
In addition, the Board of Directors decided to propose to the Annual General Meeting the distribution of dividend from 2023 profits of total amount € 1,073,064.90, i.e. 0.30 euros per share, under the five-year dividend reinvestment program (2023 – 2028). The exact amount will be determined according to the number of the Company’s treasury stock at the record date.
The Company’s key financial figures and key indicators are included in the following tables:
| Profit and loss account (amounts in th.) | 1/1-31/12/2023 | 1/1-31/12/2022 |
| Gross income from portfolio management | € 8,924 | € -350 |
| Gross profit/loss | € 6,923 | € -754 |
| Earnings/Loss before tax (EBT) | € 6,543 | € -1,105 |
| Earnings/Loss after tax (Net profit after tax) | € 6,403 | € -1,135 |
| Key Indicators | 31/12/2023 | 31/12/2022 |
| Net Asset Value (N.A.V.) | € 29,951 th. | € 24,675 th. |
| Net Asset Value (N.A.V. per share) | € 8.37 | € 6.98 |
The CEO of the Company, Mr. Vassilis Kletsas, commented: “Fiscal 2023 was an important year for Alpha Trust Andromeda as the company returned to profitability as a result of the upward trend of the Athens Stock Exchange as well as the very satisfactory financial performance of the portfolio companies. It also reflects the company’s investment policy of selecting companies that have the potential to create value to our portfolio”.
“The positive bottom line allows us to continue our dividend policy and distribute a dividend of 0.30 Euros per share”, Mr. Kletsas added.
“It is our intention to distribute dividend twice a year. We intend to implement the same if conditions permit. Please note that in the last six years, Andromeda’s dividend yield exceeded that of the Athens Stock Exchange’s aggregate yield every year in a row and we aim to achieve the same this year, too”, Mr. Kletsas concluded.
