Ackermans stock holds steady as portfolio company results frame valuation debate

Ackermans & van Haaren NV (ISIN BE0003764755) reported full-year 2023 consolidated revenue of EUR 5.79 billion, down from EUR 6.70 billion in 2022, while net profit attributable to the group increased to EUR 469.9 million from EUR 457.1 million according to its annual report published in 2024 on its investor relations site Ackermans and van Haaren investor relations.

Net profit rises despite lower revenue

In the 2023 financial year, Ackermans & van Haaren recorded consolidated revenue of EUR 5.79 billion compared with EUR 6.70 billion in 2022, reflecting lower activity in some construction and dredging operations according to the same annual report on Ackermans and van Haaren annual report 2023.

Despite the revenue decline, net profit attributable to the group increased to EUR 469.9 million in 2023 from EUR 457.1 million in 2022, helped by higher contributions from several portfolio companies in marine engineering and energy and resources as described in the 2023 annual report on Ackermans and van Haaren 2023 net profit detail.

Dividend grows to EUR 3.20 per share

For 2023, the board of Ackermans & van Haaren proposed a gross dividend of EUR 3.20 per share, up from EUR 3.10 per share for 2022, as stated in the dividend section of the 2023 annual report available on Ackermans and van Haaren dividend information.

The higher dividend follows continued profitability and reflects the holding company’s policy of gradually increasing shareholder distributions when underlying results allow, as outlined in its stated dividend approach in documents on Ackermans and van Haaren dividend policy.

Key portfolio businesses and revenue drivers

Ackermans & van Haaren describes itself as a diversified investment group with shareholdings in marine engineering and contracting, private banking, real estate and senior care, and energy and resources, as outlined in its corporate profile on Ackermans and van Haaren corporate profile.

The marine engineering activities, including dredging and offshore services, generate a large portion of group revenue and earnings, while the private banking stake contributes through fee income and asset management, according to segment descriptions in the 2023 annual report on Ackermans and van Haaren segment overview 2023.

Representative product and business line

Within its portfolio, marine engineering projects such as large dredging contracts and offshore energy infrastructure installations represent a tangible example of the operating businesses that underpin Ackermans stock, as described in project case studies in the 2023 reporting documents on Ackermans and van Haaren marine engineering projects.

Ackermans stock and market data

As a listed Belgian holding company on Euronext Brussels, Ackermans stock provides exposure to a range of industrial, financial, and real estate assets, with its market value reflecting both the performance of portfolio companies and investor expectations about future cash flows from dividends and asset disposals.