Financial results for 2017
From now on we will inform you each quarter of the financial results of Incofin CVSO. We will start with the excellent results for 2017.
In 2017, Incofin CVSO’s investment portfolio grew to €74.3 million (+24%), primarily due to an increase in the loan portfolio to 49 credits (46 in 2016) to 43 partner institutions in 25 countries (22 in 2016). The subordinated loans portfolio remained stable while the sale of a participation and the liquidation of an investment in the Rural Impulse Fund reduced the equity portfolio. We hope to be able to realise new shareholdings in 2018.
The strong growth of the portfolio and the realisation of two participations have led to a strong increase in income in 2017 to €5.99 million. As a result, operational costs also increased, over and above the extra effort made with regard to communication and the increased budget for Technical Assistance. The result, after financial charges and taxes, amounts to €2.84 million.