Hi, given that Topicus Inc, listed in the Canadian stock exchange only owns ~62.1% of Topicus Netherlands, shouldn't you apply a ~40% hair cut on the profits you are projecting?
Essentially what we own is the shell (Topocus Inc) who doesn't own 100% of all the profits Topicus Coop (Netherlands) makes.
However, when reporting, the consolidate all the earnings on the financial statements. That is why at the bottom of the income statement, there is this line item that says "Net income attributable to Equity Holder of Topicus"
This was in the latest Q4 FY23 filing:
"The Company’s non-controlling interest at December 31, 2023 is associated with Topicus Coop, an entity
domiciled in the Netherlands and certain subsidiaries of Topicus Coop. Topicus Coop’s common equity
consists of Topicus Coop Ordinary Units. As at December 31, 2023, there were 129,841,818 Topicus Coop
Ordinary Units outstanding, which are held by Topicus Coop’s unitholders, as follows:
Really love this write up on Topicus, great job. I own it, Constellation and Lumine in my portfolio
Hi, given that Topicus Inc, listed in the Canadian stock exchange only owns ~62.1% of Topicus Netherlands, shouldn't you apply a ~40% hair cut on the profits you are projecting?
Essentially what we own is the shell (Topocus Inc) who doesn't own 100% of all the profits Topicus Coop (Netherlands) makes.
However, when reporting, the consolidate all the earnings on the financial statements. That is why at the bottom of the income statement, there is this line item that says "Net income attributable to Equity Holder of Topicus"
This was in the latest Q4 FY23 filing:
"The Company’s non-controlling interest at December 31, 2023 is associated with Topicus Coop, an entity
domiciled in the Netherlands and certain subsidiaries of Topicus Coop. Topicus Coop’s common equity
consists of Topicus Coop Ordinary Units. As at December 31, 2023, there were 129,841,818 Topicus Coop
Ordinary Units outstanding, which are held by Topicus Coop’s unitholders, as follows:
Topicus: 81,889,763 Topicus Coop Ordinary Units, representing 63.07% equity ownership.
Joday Group: 39,331,284 Topicus Coop Ordinary Units, representing 30.29% equity ownership.
Ijssel Group: 8,620,771 Topicus Coop Ordinary Units, representing 6.64% equity ownership"