Aventus Capital Inc. · TSXV:AVTS
Aventus Capital — The Westaim — Q3 2024 Earnings Presentation
25 slides from Aventus Capital's earnings presentation, Nov 12, 2024
Slide 1: Q3 2024 Investor Presentation
Q3 2024 Investor Presentation November 12, 2024
Slide 2: Disclaimer
Disclaimer Safe Harbour Statement This document and its contents are proprietary information and may not be reproduced or otherwise disseminated in whole or in part either directly or indirectly without the prior written consent of each of The Westaim Corporation (“Westaim” or the “Corporation” or t
Slide 3: Disclaimer
Disclaimer Safe Harbour Statement Supplementary financial measures concerning the Arena FINCOs and Arena (the “Arena Supplementary Financial Measures”) contained in this presentation are unaudited and have been derived from the unaudited consolidated financial statements of Arena FINCOs and Arena fo
Slide 4: Important Disclosures
Important Disclosures Non-GAAP Measures Westaim Westaim reports its interim consolidated financial statements using Generally Accepted Accounting Principles (“GAAP”) and accounting policies consistent with IFRS. Westaim uses both IFRS and non-generally accepted accounting principles (“non-GAAP”) mea
Slide 5: Important Disclosures
Important Disclosures Arena With respect to the section on Arena the information therein is being provided solely in relation to the management company and the investment manager, including their funds, subsidiaries and affiliates. Returns shown are unaudited. Past performance is not indicative or a
Slide 6: Q3 2024 Highlights: Focused on Accelerating Arena's Business
Q3 2024 Highlights: Focused on Accelerating Arena’s Business Q3 2024 net loss attributable to Arena (100%) was Q3 2024 net loss was $1.1 million (-0.7% net investment Q3 2024 net loss was $1.1 million compared to Q3 $3.4 million compared to net income of $4.1 million for return) compared to Q3 2023
Slide 7: Westaim Summary Q3 2024 Operating Results
Westaim Summary Q3 2024 Operating Results Three months ended Nine months ended Westaim’s loss and comprehensive loss for Q3 September 30 September 30 2024 was $1.1 million ($0.01 diluted loss per (Amounts in millions of US$ except per share data) 2024 2023 2024 2023 share) compared to a profit and c
Slide 8: Westaim Summary Q3 2024 Statement of Financial Position
Westaim Summary Q3 2024 Statement of Financial Position As at September 30, 2024 June 30, 2024 December 31, 2023 Book value per fully diluted share (Amounts in millions of US$ except per share data) Assets increased $0.07 (1.8%) to $3.90 at Cash $351.7 $288.6 $135.0 September 30, 2024 from $3.83 at
Slide 9: Westaim Diluted (Loss) Earnings per Share: Three months ended September 30, 2024
Westaim Diluted (Loss) Earnings per Share (US$): Three months ended September 30, 2024 $0.07 ($0.01) ($0.01) ($0.06) - ($0.01) Income from Loss from Loss from Westaim's net Income tax Fully diluted EPS Skyward Specialty Arena FINCOs Arena Investors holding company expense three months ended and ASOF
Slide 10: Westaim Book Value per Share: Three months ended September 30, 2024
Westaim Book Value per Share (US$): Three months ended September 30, 2024 $0.07 ($0.01) ($0.01) ($0.06) $3.91 - $3.90 Fully diluted BVPS Income from Loss from Loss from Westaim's net Income tax Fully diluted BVPS June 30, 2024 Skyward Specialty Arena FINCOs Arena Investors holding company expense Se
Slide 11: Westaim Diluted Earnings per Share: Nine months ended September 30, 2024
Westaim Diluted Earnings per Share (US$): Nine months ended September 30, 2024 $0.01 ($0.16) $0.04 $0.15 - $0.04 Income from Income from Income from Westaim's net Income tax Fully diluted EPS Skyward Specialty Arena FINCOs Arena Investors holding company expense nine months ended and ASOF expenses (
Slide 12: Westaim Book Value per Share: Nine months ended September 30, 2024
Westaim Book Value per Share (US$): Nine months ended September 30, 2024 $0.01 ($0.16) $0.04 $0.15 $0.03 $3.90 - $3.83 Fully diluted BVPS Income from Income from Income from Westaim's net Income tax Impact of NCIB Fully diluted BVPS December 31, 2023 Skyward Specialty Arena FINCOs Arena Investors ho
Slide 13: AIGH is a global financial institution with over 180 people
All data is as of September 30, 2024 unless otherwise specified AIGH, including its joint ventures and affiliates, is a global financial institution with over 180 people across 8 global offices and operating in over 20 countries
Slide 14: About Arena
About Arena 14 • Institutional investment manager focused on both public and private fixed income investments ABOU T ARENA ( 1 ) with over 180 people, inclusive of sourcing, underwriting, surveillance, workout, operational improvement and extensive financial / operational infrastructure. $3.3B • Bro
Slide 15: Arena Key Highlights: Differentiated Approach, Proven Performance
Arena – Key Highlights 15 • Arena is a growing global financial institution • Mandate flexibility and diversification contribute to consistency across cycles Differentiated Approach • Proprietary sourcing and global infrastructure with a focus on smaller-sized transactions • Servicing and systems th
Slide 16: Arena Q3 2024 Quarterly Results Highlights
Arena – Q3 2024 Quarterly Results Highlights 16 Three months ended September 30 Nine months ended September 30 (dollars in millions) 2024 2023 2024 2023 Q3 2024 Results: Arena Investors • Net income for Q3 2024 was a loss of $3.4 million (Q3 2023: profit Management fees $ 7.1 $ 7.7 $ 21.5 $ 23.2 of
Slide 17: Arena Investment Vehicles
Arena – Investment vehicles (1) 17 $ 3 . 3 B A U M (2) Permanent Capital (Arena FINCOs) EXCESS CA PACI T Y OPP ORTUNI TI ES • Arena Finance • Arena Origination Company $1.0B A R E N A F U L LY D I V E R S I F I E D Open-ended Evergreen Funds New Zealand Real Estate Credit S T R AT E G Y $ 2 . 0 B •
Slide 18: Arena Investing: Performance & Deployment
Arena – Investing: Performance & Deployment 18 • The following table presents the performance data for Arena’s drawdown funds and accounts: As of September 30, 2024 Year of Original Capital Capital Invested to Realized Unrealized Net Net Primary Investment AUM Total Value ($ in millions) inception C
Slide 19: Arena Investing: Performance & Deployment, Open-Ended Funds
Arena – Investing: Performance & Deployment 19 • The following table presents the performance data for Arena’s significant open-ended funds and Stable Income strategies: As of September 30, 2024 Net Returns (%) Quarter-to- Year-to-date Since Inception Primary Investment Strategy Year of AUM date (An
Slide 20: Arena AUM Through September 30, 2024
Arena – AUM Through September 30, 2024 20 • Arena’s AUM (including undrawn commitments) were $3.3B at September 30, 2024. From December 31, 2015, to September 30, 2024, AUM has grown at a compound annual growth rate of about 40%. Close of third drawdown fund offering at target would bring assets nor
Slide 21: Arena FINCOs
fs ARENA
Slide 22: Arena FINCOs: Summary of Operating Results
Arena FINCOs: Summary of Operating Results Three months ended Nine months Q3 2024 net loss was $1.1 million (-0.7% net September 30 ended September 30 investment return) compared to Q3 2023 net profit (Amounts in millions of US$ except per share data) 2024 2023 2024 2023 of $0.9 million (+0.6% net i
Slide 23: Arena FINCOs: Summary of Net Assets
Arena FINCOs: Summary of Net Assets Arena FINCOs’ results reflect mark-to- As at September 30, 2024 June 30, 2024 December 31, 2023 market valuations within its portfolio (Amounts in millions of US$ except per share data) which has a net value of $150.4 million at September 30, 2024 compared to Cash
Slide 24: Arena FINCOs: Portfolio breakdown as at September 30, 2024
Arena FINCOs: Portfolio breakdown as at September 30, 2024 Other Securities Corporate Private 22.2% Investments 25.5% Real Estate Investments Structured Finance and Assets 29.1% 23.2% Arena FINCOs held 212 positions at September 30, 2024 compared to 221 positions at December 31, 2023, with 53.6% in
Slide 25: Westaim
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