Ackermans & van Haaren - FY23: Strong year-end of private banking but not reflected in share price
Delen inflows remain strong with AuM up 13% to EUR 65.3bnProposed dividend of EUR 3.4 p/s, an increase of 9.7%Net cash of EUR 518m leaves plenty of room for new investmentsWe estimate today's NAV to be EUR 190.4 p/s, implyingAckermans & Van Haaren is an investment company. Co. operates in five sectors: Marine Engineering & Infrastructure, which includes DEME NV, a dredging and marine company; Private Banking, which includes BDM NV - Continentale Verzekeringen NV (ASCO NV), which focuses on marine and industrial insurance via brokers; Real Estate, Leisure & Senior Care, which includes Extensa Group NV, a real estate developer; Energy & Resources, which includes Telemond Group, a supplier to the crane and automotive industry; and Development Capital, which is engaged in ICT and engineering, retail and distribution, real estate development, and media and printing.
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