Fondul Proprietatea closes first half of 2025 with profit of 140.6 million lei

Fondul Proprietatea closed the first half of this year with a profit of 140.6 million lei, down from 212.9 million lei in the same period of 2024, according to data released Friday by the Bucharest Stock Exchange (BVB).

Gross dividend income amounted to 155.4 million lei, while interest income totaled 11.2 million lei. Net operational income reached 159.1 million lei.

Operational expenses during this period were 18 million lei.

"Operational income mainly includes gross dividend income, fair value adjustments of instruments at fair value through profit or loss, interest income, and net gains/losses from transactions with financial instruments. Changes in the fair value of Fondul Proprietatea's holdings are recognized through profit and loss. Operational income is influenced by the performance of portfolio companies and their dividend distribution decisions, changes in stock prices of listed companies, as well as money market performance," the report submitted to BVB states.

Gross dividend income primarily came from CN Aeroporturi Bucuresti SA (103 million lei) and Societatea Nationala a Sarii SA (52 million lei). Interest income in H1 2025 came from short-term deposits and distribution accounts at banks.

The total corporate tax recorded by Fondul Proprietatea for H1 2025 amounted to 0.8 million lei, including amounts recognized both in profit or loss (0.5 million lei) and in equity - due to the transfer of uncollected dividend distributions to retained earnings, for which the prescription term has expired (0.3 million lei).

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Fondul Proprietatea was established on 28 December 2005 as a joint-stock company, operating as a closed-end investment company. Its duration extends until 31 December 2031, which can be extended by the General Meeting of Shareholders (AGEA) in additional five-year periods.