Albion Crown Vct Plc · LSE:CRWC
Albion Crown Vct — Albion Development VCT — Shareholder Meeting (June 2024)
21 slides from Albion Crown Vct's shareholder meeting presentation, June 2024
Slide 1: Albion Development VCT PLC AGM June 2024
Albion Development VCT PLC AGM June 2024 Results for the year to 31 December 2023
Slide 2: Agenda
AGENDA Financial summary Background Performance data Highlights in the year Investment portfolio Realisations Investment strategy ESG & responsible investing Prospects, Q1 results and shareholder events 2
Slide 3: Financial Summary to Dec 2023
FINANCIAL SUMMARY TO DEC 2023 88.70p 206.78p 5.14% 4.51p Net asset value (NAV) Total shareholder value Shareholder return for Tax-free dividends per share as at as at 31 December 2023 the year ended 31 per share paid 31 December 2023 December 2023 during the year 3
Slide 4: Background
BACKGROUND • Heightened global macro and geo-political uncertainties • Falling inflation but high interest rates remain • Portfolio focus on mission critical products and services is designed to provide resilience • An encouraging return for the year despite challenging market conditions • Positive
Slide 5: Performance Data
PERFORMANCE DATA 5.1% 1 year return (average 5.1% p.a.) = 4 year return (average 8.0% p.a.) 31.1% 5 year return {average 6.2% p.a.) 80.9% 10 year return (average 8.1% p.a.)
Slide 6: Highlights in the Year
HIGHLIGHTS IN THE YEAR 2022 2023 Notes 2022 fundraising included allotments under two Fundraising £26.1m £7.0m offers: 2021/22 & 2022/23 Top Up Offers 2023 included sale of Ophelos and a part disposal Exits £7.7m £5.3m of Quantexa £2.2m in 5 new companies and £4.7m into existing Investment rate £15.
Slide 7: Key Value Drivers in the Year
KEY VALUE DRIVERS IN THE YEAR 2023 Notes Quantexa £10.0m Series E fundraising – UK’s first “unicorn” of 2023 Egress £1.5m Strong trading – sale agreed after year end Black Swan (£1.6m) Impacted by macroeconomic environment Threadneedle Software Holdings (£0.8m) Impacted by macroeconomic environment
Slide 8: Portfolio Analysis: Sector Breakdown
PORTFOLIO ANALYSIS Sector breakdown Portfolio of 63 companies employing over 4,500 people predominantly in the UK 8 Comparatives for 31 December 2022 are in brackets.
Slide 9: Portfolio Analysis: Stage and Employees
PORTFOLIO ANALYSIS Stage of investment No. of employees • *Renewable energy investments have no employees. 9 • Comparatives for 31 December 2022 are in brackets.
Slide 10: Top 3 Account for 35.3% of the NAV at Dec 2023
TOP 3 ACCOUNT FOR 35.3% OF THE NAV AT DEC 2023 Investment Cost Book value Revenue Employee date £000 £000 growth growth Uses the latest advances in big data analytics and artificial intelligence to help 2017 2,052 22,283 >50x 30 to its financial services and government c.600 customers detect financi
Slide 11: New Investments
NEW INVESTMENTS £0.9m £0.5m £0.4m £0.2m £0.2m Distributed Energy Supply chain AI powered chatbots Resources modelling Quantum computer Software for non-bank emissions modelling and virtual assistants software software lenders software 11
Slide 12: New Investment: OpenDialog AI
NEW INVESTMENT: OPENDIAGLOG AI 1 • OpenDialog allows organisations to create and deploy AI powered OpenDialog AI is a chatbots and virtual assistants in a no- provider of AI code environment powered chatbots and virtual assistants • Repeat founders (Thoughtonomy acquired by Blue Prism Group PLC) • £
Slide 13: New Investment: Gridcog International
NEW INVESTMENT: GRIDCOG INTERNATIONAL 12 • Gridcog’s DERs modelling platform enables customers to analyse, design, GridCog International invest in and track their clean energy is a provider of projects modelling software for Distributed Energy • Repeat founders (Greensense and Resources (DERs) Limej
Slide 14: Follow-ons
FOLLOW-ONS £1.4m £1.1m £0.6m A software company that Provider of cyber Provider of a reformulation enables enterprises to security software of medicines for children deploy Machine Learning models in production 14
Slide 15: Investment Strategy
INVESTMENT STRATEGY Seed to Series B Backing Focus on Target (early stage long-term B2B software and to growth) trends healthcare 15
Slide 16: ESG and Responsible Investing
ESG AND RESPONSIBLE INVESTING Our commitment • Devise an appropriate risk-return profile for our investments • Deliver value to our investors • Develop sustainable long-term strategies for our portfolio companies Our process • Integrates ESG principles at all stages of investment • Measures ESG perf
Slide 17: ESG at Albion
ESG AT ALBION ENVIRONMENTAL SOCIAL GOVERNANCE • Net zero road mapping plan • Fair HQ score improvement • ESG principles integrated (from 6.1 to 6.6 out of 10) across the full investment • Carbon footprint over the year cycle measuring and offsetting • Social outreach group • Completion of 2023 ESG B
Slide 18: Prospects
PROSPECTS • Ongoing uncertainties but balanced by strong individual portfolio company growth • Well-balanced portfolio across target sectors and stage of maturity • Focus on mission critical products and services, designed to provide resilience • Limited exposure to discretionary consumer facing sec
Slide 19: Electronic Voting
ELECTRONIC VOTING • Online voting is quick and simple • Notification emails are sent before the AGM with full instructions • Two options: • Before the AGM via notification email or visit www.investorcentre.co.uk/eproxy • During the AGM via the Lumi platform • Any questions, contact us
Slide 20: Q1 Results & Events
Q1 RESULTS & EVENTS • NAV at 31 March 2024 of 91.24p • Increase of 2.86% to the 31 December 2023 NAV • Sale of Egress Software Technologies agreed, Shareholder seminar details expected to close in the coming months subject to customary closing conditions and regulatory 20 November 2024 approvals No.
Slide 21: Thank you
Thank you This presentation is issued by Albion Capital for information purposes only and is not to be regarded as an offer to buy or sell, or the solicitation to buy or sell shares in Albion Development VCT PLC. Any person considering an investment should seek advice from an authorised financial ad
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