Business
Preliminary Results for the twelve months end...
Preliminary Results for the twelve months end....
About this update from Icg Enterprise Trust Plc Gbp
[{"type":"text","content":"\n\n \n \n\n Preliminary Results for the twelve months ended 31 January 2025\n\n ICG Enterprise Trust plcPreliminary Results for the twelve months ended 31 January 20258 May 2025 Highlights Actively-managed Portfolio focused on global mid-market private companies generating resilient growthNAV per Share reaches 2,073p; NAV per Share Total Return* of 10.5% during the year and five-year annualised return of 14.5%Portfolio Return* on a Sterling basis of 10.6%; portfolio companies reporting ~15% LTM earnings growth140 Full Exits executed at a weighted-average Uplift to Carrying Value of 19.0%Shareholder-focused capital allocation policy: £59m (5% of opening NAV) returned to shareholders in FY252 (FY24: £35m), of which £36m through buybacks (FY24: £13m) and £23m through dividends of 36p per share (FY24: £22m, 33p per share)Wide range of potential outcomes to market transaction activity; secondaries market could present compelling opportunitiesSector positioning, strong origination network and robust balance sheet position us well in current environmentPost period-end, announced an additional £107m proceeds from a secondary sale and the realisation of Minimax (largest portfolio company, 3.1% of Portfolio at 31 January 2025) 1 EBITDA, based on Enlarged Perimeter covering 67% of the Portfolio2 Based on dividends declared or proposed for Q1 FY25 – Q4 FY25 inclusive, and buybacks up to and including 31 January 2025*This is an Alternative Performance Measure. Please refer to the Glossary for the definition. Jane Tufnell Oliver Gardey Chair of ICG Enterprise Trust Portfolio Manager for ICG Enterprise Trust Today's results demonstrate that our investment strategy can deliver long-term value. Our portfolio companies grew earnings by 15% in the year1, and ICGT generated NAV per Share Total Return of 10.5%, ending the year with NAV per Share of 2,073p.During the year, the Board and Manager have been careful in allocating our shareholders' capital. New investments continued, deploying £181m and making commitments of £83m. Alongside this, we returned £59m of cash to shareholders (5% of our opening NAV) through buybacks and dividends. As we enter another period of uncertainty, I am confident our long-term approach can...