Ackermans & van Haaren Closes 2025 with a Net Profit of 593 Million Euros
The Belgian holding company Ackermans & van Haaren recorded a net profit of 592.5 million euros in 2025, up 29% from the previous year. The exceptional performance of its four historical pillars — DEME, the private banks Delen and Van Breda, and SIPEF — drove this growth.
Ackermans & van Haaren concluded the year 2025 with a net profit of 592.5 million euros, marking a 29% increase from 2024. This performance benefited from exceptional contributions from four key portfolio segments. DEME achieved a net profit of 346.3 million euros, up 20%, while the joint private banking activity of Delen Private Bank and Van Breda Bank generated 287.4 million euros. SIPEF, the group's palm oil division, recorded a record net profit of 125.4 million US dollars, a 90% increase year-over-year. The group emphasized that this quality of result reflects a low impact of capital gains and disciplined execution of its investments.
Strengthened Financial Position
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AvH's equity increased by 422.9 million euros to reach 5.701 billion euros at the end of December 2025. The return on equity stands at 10.3%, while equity per share increased by 10.3% to 174.45 euros after accounting for the dividend paid. The net cash position solidified at 428.9 million euros, bolstered by 295.3 million euros in dividends remitted from the portfolio during the year. The board of directors proposes a 21% increase in the dividend, raised to 4.60 euros per share, representing a total maximum distribution of 152.5 million euros. This proposal will be submitted to the general meeting on May 26, 2026.
Significant Investments and Growth in Key Areas
DEME invested 1.066 billion euros in 2025, including the acquisition of the Norwegian offshore wind farm constructor Havfram and the financing of joint ventures, while keeping its net financial debt at 391.3 million euros. The private banks saw their entrusted assets grow by 12.5% to reach 87.5 billion euros, benefiting from an increase of 22 billion euros over two years. SIPEF produced 442,000 tonnes of palm oil in 2025, reflecting a 22% increase driven by the maturation of new plantations in Indonesia and the recovery in Papua New Guinea following the volcanic eruption in 2023.
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 3 030 millions d'euros
Quarterly revenue: 3 030 millions d'euros
Net income: 339,6 millions d'euros
-524,4 millions d'euros
Guidance from the release
Perspectives revues à la hausse : le bénéfice net devrait augmenter de plus de 10 % sur l'ensemble de l'exercice
Risks mentioned
Turbulences macroéconomiques mondiales et incertitudes persistantes
Tensions géopolitiques affectant les marchés et les prix des matières premières
Faiblesse des ventes de Deep C Holding au premier semestre, amélioration attendue au second semestre
Opportunities identified
Investissement stratégique de 93 millions d'euros dans Grieg Aqua pour accéder à l'écosystème norvégien de l'aquaculture du saumon
Renforcement du Growth Capital avec contribution positive de 21,4 millions d'euros
Poursuite de l'expansion géographique de Delen Private Bank aux Pays-Bas vers plus de 5,5 milliards d'euros d'actifs sous gestion
Outlook / guidance
Management commentary: Perspectives revues à la hausse : le bénéfice net devrait augmenter de plus de 10 % sur l'ensemble de l'exercice
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.