Groupe Bruxelles Lambert Accelerates €500 Million Buyback to Reflect Intrinsic Value

Groupe Bruxelles Lambert accelerates its €500 million share buyback program, aiming to complete it by June 30, 2025. As of May 10, 2024, the company holds 6.7% of its issued capital, having executed 9.5% of its seventh share buyback program.

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Groupe Bruxelles Lambert Accelerates €500 Million Buyback to Reflect Intrinsic Value

Groupe Bruxelles Lambert Accelerates €500 Million Buyback to Reflect Intrinsic Value

Groupe Bruxelles Lambert (GBL), a prominent Belgian investment holding company, has announced the acceleration of its €500 million share buyback program. The company aims to complete the buyback by June 30, 2025, as part of its strategy to reflect its intrinsic value.

Why this matters: This move by GBL has significant implications for the European financial market, as it demonstrates the company's confidence in its long-term value creation strategy. The accelerated share buyback program may also influence investor sentiment and market trends in the region.

GBL published the information on May 13, 2024, taking sole responsibility for the content. The company's shares are listed on Euronext Brussels under the ticker symbol GBL. As of May 10, 2024, GBL holds directly and through its subsidiaries 9,293,930 of its own shares, representing 6.7% of the issued capital.

The company has executed 9.5% of its seventh share buyback program as of May 10, 2024. Between May 6, 2024, and May 10, 2024, GBL acquired 40,750 shares at an average price of €71.76 and sold 45,250 shares at an average price of €71.63.

GBL's net asset value stood at €17.0 billion at the end of March 2024. The company focuses on long-term value creation with the support of a stable family shareholder base. GBL perceives ESG (Environmental, Social, and Governance) factors as being inextricably linked to value creation.

Groupe Bruxelles Lambert has a solid track record, with over 950,000 members and a historical performance of +951%. The company has been in operation for over 20 years and is a constituent of the BEL20 index on Euronext Brussels.

The accelerated share buyback program, valued at €500 million, is a significant move by Groupe Bruxelles Lambert to reflect its intrinsic value. With a strong financial position and a focus on long-term value creation, GBL continues to demonstrate its commitment to delivering value to its shareholders.

Key Takeaways

  • Groupe Bruxelles Lambert accelerates €500m share buyback program.
  • Aims to complete buyback by June 30, 2025, to reflect intrinsic value.
  • GBL holds 6.7% of its issued capital, with 9,293,930 shares.
  • Net asset value stands at €17.0 billion as of March 2024.
  • GBL focuses on long-term value creation with a strong ESG approach.