Underwood Capital Limited · ASX:UWC
Underwood Capital — H1 FY2025 Earnings Presentation
9 slides from Underwood Capital's earnings presentation, Feb 20, 2025
Slide 1: UWC HY25 Results Presentation
Underwood Capital Limited Level 57 25 Martin Place Sydney NSW Australia 2000 www.uwcl.com.au info@uwcl.com.au 20 February 2025 UWC HY25 Results Presentation Underwood Capital Limited (ASX: UWC) ("UWC” or the “Company”) is an Australian-listed specialist investment company which concentrates on produ
Slide 2: About UWC / Important Notice
About UWC Underwood Capital Limited (ASX:UWC) ("UWC") ABN 91 601 236 417 is an Australian-listed specialist investment company which concentrates on producing capital growth for shareholders over the medium term from investments in listed and unlisted equities and debt securities. Important Notice T
Slide 3: 1H 2024-2025 FY
For personal use only 1H 2024-2025 FY
Slide 4: Overview: Trades at ~44% discount to net tangible assets
Overview For personal use only UNDERWOOD TRADES AT A ~44% DISCOUNT TO ITS NET TANGIBLE ASSETS Market Data Balance Sheet (3) Stock code: ASX:UWC Cash & listed investments: $12.4 Million Share price (1): $0.05 Credit investments: $0.25 Million Shares outstanding: 209 Million Private equity: $9.5 Milli
Slide 5: 1H 2025 NTA Bridge
1H 2025 NTA Bridge For personal use only $22,000,000 $514,710 $1,760,256 -$985,744 $19,787,740 $20,000,000 -$440,770 $19,214,651 -$246,538 -$28,825 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 Opening NAV HD investments Weed Me Other investments Operating costs Income tax Buyback Clos
Slide 6: HD Capital investments
HD Capital investments For personal use only HD Capital Partners, as the investment manager of Underwood Capital, has deployed the proceeds from legacy investment sales into its core investment strategy: concentrated, long-term bets on undervalued and overlooked companies. Excluding our credit inves
Slide 7: Legacy investments
Legacy investments HD’s appointment as UWC’s investment manager coincided with a change in focus on the types of investments UWC pursues. Consistent with that new strategy, UWC has For personal use only opportunistically disposed of most of its legacy investments, realising value from many. Exits to
Slide 8: What makes us different?
What makes us different? For personal use only Our goal is to significantly outperform global equity markets, over rolling 5- year periods, by taking concentrated, long-term positions in undervalued and overlooked companies Going where others can’t Doing what others won’t Not tracking an index Makin
Slide 9: Investment strategy
Investment strategy For personal use only We pursue an opportunistic investment strategy, focussed on highly asymmetric Business Fundamentals situations characterised as “heads we win, tails we don’t lose” Good business we understand Smart management with skin-in-the-game Generals Highly likely to s