Stern Groep N.V.
STRN.AS
Euronext Amsterdam17.05
EUR
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Stern Groep N.V.
STRN.AS
(Euronext Amsterdam)
Recent
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17.05
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yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- PB Holding N.V. (formerly Stern Groep N.V.) operates as a holding company that holds and manages certificates of shares in Bovemij N.V., a financial services provider specializing in insurance, financing, legal assistance, and data management for the mobility sector; its primary asset consists of 515,000 certificates representing approximately 5.3% ownership in Bovemij, generating income primarily from equity interests, revaluations, and potential dividends. The company maintains a focused portfolio centered on this investment stake, with no active operational subsidiaries in automotive retail, leasing, or related services following divestitures; it emphasizes prudent liquidity management, cost control, and strategic optimization of shareholder value from the Bovemij position. Headquartered in Rotterdam, Netherlands, at Wilhelminakade 89, PB Holding N.V. traces its origins to Stern Groep N.V., founded in 1993, and is listed on Euronext Amsterdam under the ticker PBH (formerly STRN.AS). In March 2022, the company underwent a significant reorganization, changing its name from Stern Groep N.V. to PB Holding N.V. after selling all shares in Stern Facilitair B.V.—encompassing core automotive dealerships, repair shops, rental operations, and mobility services—to Hedin Mobility Group AB for approximately €83 million, enabling a super dividend payout and a strategic pivot to pure investment holding. This transaction, approved by shareholders in February 2022 and completed on March 16, 2022, marked the exit from operational automotive activities, including sales of new and used cars from brands such as Mercedes-Benz, Renault, Ford, Volvo, and others; leasing and rental services; car body repairs; parts distribution; insurance; financing; and light commercial vehicle customizations previously offered through divisions like Dealergroup Stern, Stern Mobility Solutions, and Stern Car Services. More recently, in late 2024 and early 2025, PB Holding navigated a recommended public cash offer from Nafimij B.V., culminating in a merger agreement executed on November 4, 2024, which settled on March 7, 2025, resulting in changes to the Management and Supervisory Boards; additionally, it secured a €300 thousand revolving credit facility from Handelsbanken, guaranteed by Mont Cervin S.à r.l., and repurchased 72,914 shares for €212 thousand amid ongoing evaluation of Bovemij stake optimization, including a previously announced (but withdrawn) plan for a split-off and reverse listing with ER Capital Finance N.V. For the full year 2024, PB Holding reported a net loss of €384 thousand, an improvement from €2.6 million in 2023, with the Bovemij stake valued at €16.6 million and no dividend received from Bovemij; first-half 2025 results showed nil income from equity interests due to no revaluation. The company targets Dutch and broader European mobility sector stakeholders through its passive investment in Bovemij, with no direct geographic operations beyond the holding structure in the Netherlands.