Although the Q1 NAV performance was modest (+2.4% vs December 21) driven by the decline in listed company performance (-€100m), the unlisted subsidiaries performed well in Q1 with a 24% increase in revenues. The Boskolis transaction remains ongoing. The HoldCo reiterated its position that the FY 2022 net results will be significantly lower than 2021 due to the exceptional gain on the sale of GrandVision.
