Business update 30 September 2024

Results

Quest for Growth closed the first nine months of the financial year with a net loss of € 2.7 million. Return on equity was -1.92%. Quest for Growth shares saw their share price fall by 11.0% over the first nine months of the year to a closing price of € 4.45 on 30 September 2024. The discount of the share price to net asset value increased to 39.6% at the end of the third quarter from 33.4% at the end of 2023.

Market Environment

The European stock market index STOXX Europe 600 Net Return rose almost 12% over the first nine months of 2024. The STOXX Europe Small 200 Net Return increased almost 9% over the same period. The underlying drivers and trends for the stock markets remained more or less the same. From a thematic perspective, AI continues to support stock prices. In contrast, companies with exposure to the Cleantech theme continue to lag behind the overall positive stock market trend.

Stocks with a higher market capitalisation continue to outperform smaller listed companies. Since mid-2021, the difference has been very significant: over a three-year period, the STOXX Europe Small 200 Net Return index achieved just short of a positive return, while the broad European market rose by more than 25%!