Monthly Portfolio Update - April 2024

Another positive month, but still awaiting consolidation

Hello fellow investor,

In this section, I present a transparent monthly update of my portfolio. It follows my investment strategy that you can find here.

This presentation is divided into several parts:

• Global view of the valuation and the portfolio’s metrics

• For dividend lovers, presentation of the Projected Annual Dividend Income (PADI) and a monthly calendar

• Sector and geographical breakdown

For paying subscribers, there is also:

• An explanation of the month's movements

• Review of the month's news

• Presentation of current portfolio

• My reinforcement price for potential stock purchases

Please note that my portfolio is in euros, so I am subject to exchange rate fluctuations, especially the euro-dollar exchange rate.

Overall Performance

Performance since the beginning of the year has been 11.98%. This is a good performance considering my diversified approach and the defensive positions in my portfolio.

The first quarter is often on the best ones and the next one could see some consolidation. I remain long term oriented so this won’t change my strategy.

Valuation and metrics

The monthly performance is 1.58%. The annual performance is 11.98%.

Here are the portfolio’s key metrics (weighted average):

• Past growth: 12.1% / Estimated future growth: 9.3%

• Net profit margin: 24.1%

• ROE: 39%

• Debt leverage: 0.26x EBITDA

• PE: 29.6x / PE Y+2: 22.1x

• FCF yield: 3.90% / FCF yield Y+2: 5.21%

• Dividend yield: 1.50%

• Dividend growth: 9.22%

• Buybacks: 0.83%

PADI evolution

PADI increased (+36€) mainly with the addition of new positions in my small cap portfolio.

Project Monthly Dividend Income

Net received dividend

Sector and geographical breakdown

Sector breakdown

Geographical breakdown

And now, it is time to see the stocks in both portfolios!