Corporación Financiera Alba S A : Corporación Financiera Alba reached a net consolidated result of -24 M€ in the first half of 2020

Corporación Financiera Alba reached a net consolidated

result of -24 M€ in the first half of 2020

Corporación Financiera Alba reached a net consolidated result of -€24 million in the first half of 2020, compared to a net consolidated profit of €67 million in the same period of the previous year.

The Net Asset Value (NAV) decreased by 14.8% in the first half of the year to €3,747 million at 30 June 2020, equivalent to €64.33 per share. Alba's share price on this same date was €36.00, reflecting a 44.0% discount.

In this period, Alba invested €59 million, and sold assets for €368 million, significantly increasing its net cash position to €419 million at 30 June 2020.

In June, Alba distributed a supplementary gross dividend of €0.50 per share to its shareholders, drawn from earnings in 2019, representing a disbursement of €29 million.

The investments made by Alba in the first half of 2020 were as follows:

• Acquisition of 1.94% of CIE Automotive for €37.8 million, increasing its stake in this Company to 12.09%.
• Various financial investments for a total amount of €21.4 million.

On the other hand, the main divestments made in the first half of 2020 were as follows:

• Sale of the entire stake (12.06%) in the share capital of Bolsas y Mercados Españoles (BME) for €332.6 million, as part of the voluntary takeover bid formulated by SIX Group AG. Alba has obtained an IRR of 6.2% per annum over an investment period of 6.2 years.
• Sale of two real estate properties in Barcelona and two floors in an offices building in Madrid for €32.5 million.

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Since 30 June 2020, Alba has made the following operations:

• On 10 September, Deyá Capital sold its entire stake of 7.5% of the share capital of TRRG Holding Ltd. (previously Ros Roca Environment) to the Terberg group for €17.3 million.

Alba's portfolio at 30 June 2020 was as follows:

Listed holdings	%		Unlisted holdings	%
Acerinox	19.3		Parques Reunidos	25.0
CIE Automotive	12.1		Verisure	6.1
Ebro Foods	14.0		Through Deyá Capital
Euskaltel	11.0		Alvic	7.8
Global Dominion	5.0		Alvinesa	16.8
Indra	10.5		in-Store Media	18.9
Naturgy	5.4		Monbake	3.7
Viscofan	13.0		Nuadi	37.4
			Preving	24.8
			Satlink	28.1
			Telepizza	3.3
			TRRG Holding Ltd	7.5

www.corporacionalba.es

(21st of September 2020)

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