Excellent business drive in the quarter impacted by an unprecedented health crisis
The health crisis has had major repercussions on macroeconomic outlook and produced extreme shocks on the financial markets. After a quarter in line with the 2020 objectives of BNP Paribas, health crisis related developments had several major negative impacts on the first quarter 2020.
Commenting on these results, Chief Executive Officer Jean-Laurent Bonnafé stated:
“In response to the health crisis, the Group’s teams have mobilised around the world to contribute to the functioning of the economy and its financing. Our concerns have been to protect our employees who are fully mobilised to ensure banking services, to quickly implement solutions to support the financing of our corporate, institutional and individual clients, and to launch in all regions where we are present a plan for emergency donations to the hospital sector and organisations committed to assist vulnerable people.
At the end of a quarter supported by an excellent business drive, in line with its 2020 objectives, the results of BNP Paribas for the 1st quarter 2020 were impacted by the harshness of the health crisis. The good resilience of revenues and results despite this shock demonstrates the robustness of the Group’s diversified and integrated model. With all teams at BNP Paribas, whose I want to thank tireless commitment to serving customers and providing support to society, we will continue our efforts to mitigate the impact of the crisis on the economy and prepare for the future.”
Press Release: https://invest.bnpparibas.com/documents/1q20-pr-23455
BNP Paribas Fortis Private Equity supports AstriVax with start-up capital
With EUR 30 million in raised start-up capital, the Leuven biotech company AstriVax can further develop its vaccines. This is the largest amount of start-up money ever raised by a KU Leuven spin-off. BNP Paribas Fortis Private Equity is one of the investors in this innovative Belgian company, which can now shift up a gear.
Tackling challenges in vaccinology
AstriVax focuses on the development of innovative vaccines, both preventive and therapeutic. With the start-up capital raised, the company will clinically develop its first thermostable yellow fever vaccine and further develop its candidate vaccines against rabies and chronic hepatitis B.
The company is building a highly innovative plug-and-play vaccine platform for this, based on the ground-breaking work done by co-founders Professor Johan Neyts and Doctor Kai Dallmeier from the KU Leuven Rega Institute. In this way, AstriVax seeks to design and produce vaccines faster and more cost-efficiently. The aim is to combine long-term protection with thermostable production, which requires no cooling. This makes it easy for vaccines to reach patients, even those in tropical and subtropical areas.
Ground-breaking scientific work with social relevance
In addition to BNP Paribas Fortis Private Equity, PMV, Thuja Capital, Ackermans & van Haaren, OMX and the KU Leuven Gemma Frisius Fund are all participating in this financing round, led by V-Bio Ventures and Fund+.
"The Rega team has done fantastic scientific work in recent years, which they can now turn into valuable medical products. Investing in innovative companies with a strong social vision and promising potential, is perfectly in line with our Private Equity strategy", says Raf Moons, Head of BNP Paribas Fortis Private Equity.
Read the full press release here.
BNP Paribas Fortis Private Equity invests in Van de Velde Pipe Inspections & Solutions
BNP Paribas Fortis Private Equity takes stake in Van de Velde Pipe Inspections & Solutions. The Lier-based company is a one-stop-shop for all piping solutions.
Van de Velde’s strength is that they offer an all-in-one solution: maintenance, inspection, advice, cleaning, renovation and repair of all kinds of pipes, tubes, storage tanks and sewers. Thanks to their solution-oriented approach, good service, and the use of modern techniques and materials, they have become a leading and forward-thinking player in their niche.
The company has boosted its investments in new technologies and digitalisation, offering robot cleaning and using drones for inspections, among others. The experienced management team focuses on projects with high added value that require specific expertise and technologically advanced material. Thanks to this forward-looking vision, Van De Velde dares to think out-of-the-box and is able to apply its know-how and solutions across the board for many applications in various industries.
"Van de Velde Inspections is an innovative company with a lot of growth potential and a strong management team with an excellent vision. This investment shows that we are not just focussed on large corporates", says Raf Moons, Head of BNP Paribas Fortis Private Equity. "Private Equity is increasingly investing in SMEs. Companies such as Van de Velde Pipe Inspections & Solutions are an essential part of our Belgian economic fabric, and we are happy to support them."
Discover more about Private Equity
Also read the article that was published in De Tijd on 13 April 2022 (in Dutch only)
Umicore signs €500 million sustainable-linked loan
The interest that Umicore will pay on this loan, of which BNP Paribas Fortis coordinates the sustainability aspect, varies depending on the company’s compliance with environmental and governance criteria.
Umicore, a global player in materials technology and recycling, has decided to link the cost of its revolving credit line to the achievement of carbon neutrality and gender diversity objectives. Its performance, which will be measured against specific criteria, will determine the interest margin applicable. The loan is granted for a basic term of five years by a pool of 13 banks. BNP Paribas Fortis acted as ‘Sustainability Coordinator’.
Umicore has chosen to link its interest margin to two major targets:
- the reduction of its greenhouse gas emissions (scopes 1 and 2) by 20% in 2025 and 50% in 2030 respectively;
- to have 35% women in a management role by 2030, and to achieve gender parity as soon as possible.
The SLL: a major breakthrough in sustainable finance
When a company takes out a 'Sustainable Linked Loan' (SLL), the amount of interest it pays depends on specific indicators linked to environmental, social and/or governance (ESG) objectives. These indicators are jointly defined by the borrower and the lender. In doing so, the borrower demonstrates the seriousness of its ESG ambitions.
Working with our clients towards a sustainable future
"The finance market has rarely been this interesting for any company currently seeking to achieve the United Nations Sustainable Development Goals", Didier Beauvois, Head of Corporate Banking & Member of the Executive Board of BNP Paribas Fortis, emphasises. “I am proud that Umicore has chosen BNP Paribas Fortis to set up its first Sustainability Linked Loan to support its ambitions to achieve carbon neutrality and gender diversity. This Sustainability Linked Loan is a clear example of how we and the syndicated banks we represent, intend to serve our clients for a more sustainable future."
Find out about our sustainable approach and how we work with our clients
BNP Paribas Fortis Private Equity supports Aerospacelab
BNP Paribas Fortis Private Equity, which helps promising companies achieve their growth ambitions, has invested in the Belgian satellite manufacturer Aerospacelab. Thanks to the support of our bank and a number of other leading investors, the company raised EUR 40 million.
Aerospacelab makes and processes satellite images that, among other things, allow air pollution to be better controlled. Not only are they taking European space technology to the next level, they also want to make it affordable and widely applicable. With the funds raised, Aerospacelab will ramp up its satellite constellations production and develop solutions with multiple sensors to analyse this satellite data.
"We are delighted that we are one of the new investors in Aerospacelab and therefore support technological entrepreneurship in Belgium. Just like our bank, Aerospacelab is determined to make a real positive impact on a global level. We strongly believe in their capabilities and are proud that as a Belgian company they can play a decisive role in European space technology," said Didier Beauvois, Head of Corporate Banking & Member of the Executive Board of BNP Paribas Fortis.
Read the full press release here
- BNP Paribas Group, first quarter 2020 results
- BNP Paribas Fortis Private Equity supports AstriVax with start-up capital
- BNP Paribas Fortis Private Equity invests in Van de Velde Pipe Inspections & Solutions
- Umicore signs €500 million sustainable-linked loan
- BNP Paribas Fortis Private Equity supports Aerospacelab
- See all news