TINC: Net income of €25.9 million in the first half and portfolio up 7.3%
TINC published its half-yearly results on September 9, 2026 for the period ending June 30, 2026, marked by growth in its portfolio value and new investment commitments. The infrastructure investment company reports net income of €25.9 million and continues its stated objective of increasing its investment portfolio to 1 billion euros.
Net income of €25.9 million and annualized portfolio yield of 8.81%
Over the first six months of the current financial year, which will close on December 31, 2026, portfolio results amount to €31.4 million, representing an annualized yield of 8.81%. This resulted in net income of €25.9 million, or €0.53 per share. Total cash collections from the portfolio reached €27.9 million, a figure that includes proceeds from the disposal of the Zelfstroom stake. Shareholders' equity stands at €634.7 million, or €13.09 per share, compared to €637.5 million (€13.15 per share) on December 31, 2025. Adjusted for the distribution of €28.6 million (€0.59 per share) paid to shareholders in May 2026, they increased by 4.2%.
Portfolio of 33 holdings valued at €765.1 million, up 7.3%
The investment portfolio comprises 33 holdings in Belgium, France, Ireland and the Netherlands, with a fair value of €765.1 million, up 7.3% compared to December 31, 2025. This portfolio is valued using a weighted average discount rate of 9.26%, compared to 9.19% on December 31, 2025. During the period, TINC committed €23.3 million in a new holding, Storm BESS, which relates to two battery energy storage systems (BESS) projects to be built in Belgium. TINC also invested €48.3 million in the execution of existing and new commitments, relating to Storm BESS as well as to the holdings Garagepark, GlasDraad, Higher Education Buildings, Project Mufasa, Storm Group, Storm Wind Belgium and Yally. Net debt reached €130.8 million at the end of the period, with the company having access to renewable credit lines of €300 million, of which €131.7 million were drawn down on June 30, 2026.
Target of 1 billion euros and proposed distribution of €0.60 per share
Investment commitments contracted but not yet disbursed amount to €81.1 million at the end of the period. By combining the current portfolio with these commitments, TINC's portfolio will ultimately reach approximately €846 million. The company indicates it remains on track to double its investment portfolio to reach 1 billion euros. For the current financial year, which will close on December 31, 2026, TINC proposes a gross distribution to shareholders of €0.60 per share, with payment expected in May 2027 subject to approval by the general meeting.
