Press release

Quest for Growth semi-annual report January-June 2020

30 July 2020

After a very weak first quarter due to the impact of the corona crisis on the financial markets, Quest for Growth had an excellent second quarter. The fact that the net asset value decreased by only 1.9% in the first half year can be considered a success under current market conditions. The net asset value per share was € 7.96, compared to € 8.12 at December 31 2019. The company suffered a loss of € 2.6 million (€ 0.15 per common share), comparable to a profit of € 11.8 million (€ 0.71 per ordinary share) in the first half of 2019.

Despite the resistance of the underlying portfolio, the share price dropped more than 11%, to € 5.24 of June 30, 2020, compared to € 5.90 at the end of 2019. The price discount compared to to the net asset value increased further, reaching 34.2% at the end of the semester.