TINC delivered outstanding financial results for the year ending December 31, 2025, marking a significant step in its growth strategy.
The company invested 225 million euros in new opportunities, diversifying its portfolio from project infrastructure to higher-yielding corporate infrastructure (core+). This expansion, combined with a 39 percent increase in the portfolio’s fair value to 713 million euros, has boosted expected profitability, with the weighted average discount rate rising from 8.40 percent to 9.19 percent.
CEO Manu Vandenbulcke highlighted that these developments will drive higher returns and profits for shareholders from 2026 onward. Confident in its strong cash flows, TINC proposed a ninth consecutive increase in shareholder distribution, raising it to 0.59 euros per share.
The company’s portfolio achieved a return of 10.03 percent for the year, surpassing the previous discount rate, with net profits reaching 40.6 million euros (0.84 euros per share).
Total cash receipts from the portfolio amounted to 75.8 million euros, while shareholders’ equity grew to 637.5 million euros (13.15 euros per share). TINC successfully completed a 113 million euros capital increase in June 2025, fully deploying the proceeds to support its ambition of doubling the investment portfolio. The portfolio now includes 33 participations across Belgium, France, Ireland, and the Netherlands, with a focus on future-oriented infrastructure.
TINC committed 123.7 million euros to new and existing projects, including investments in Dutch battery storage (Project Mufasa) and car park operator Interparking. The company’s net debt stands at 76 million euros, supported by a 200 million euros revolving credit facility, with plans to explore sustainable debt financing.
Chairman Philip Maeyaert emphasized TINC’s long-term vision, aligning financial performance with societal needs, and noted the confidence from shareholders, including reference shareholder Infravest, which holds a 25.25 percent stake.
Looking ahead, TINC’s outstanding contractual commitments total 103.1 million euros, positioning the portfolio to grow to approximately 816 million euros. The proposed shareholder distribution of 0.59 euros per share, pending approval, will be paid in May 2026, combining a dividend of 0.17 euros and a capital reduction of 0.42 euros. The company also welcomed new board members Filip Dierckx and Nils De Bremaeker, following the departure of Peter Vermeiren, further strengthening its governance.
