Alpha Trust Andromeda Investment Trust Sa · ATHEX:ANDRO
Alpha Trust Andromeda Investment Trust Sa — Investor Presentation (September 2025)
17 slides from Alpha Trust Andromeda Investment Trust Sa's investor presentation, Sep 30, 2025
Slide 1: A patient investment play
A patient investment play 30/09/25
Slide 2: Key Facts
Key Facts Sole Athens Listed Closed End Fund The only closed-end fund listed on the Athens Stock Exchange Active Management Seeks to invest in fundamentally sound assets primarily in the domestic equity market. Looking for potentially undervalued or overlooked opportunities where active management c
Slide 3: Key Facts
Key Facts NAV NAV PER SHARE MARTKET CAP SHARE PRICE # OF SHARES €35.33m €9.54 €28.67m €7.74 3,704,355 DIVIDEND YIELD (25E) DISCOUNT ESG SCORE AVG DAILY TRAINING VOLUME (last 30 days) 7.6% -18.8% 68.5 3,736 Shares Note: ESG Score is based on Refinitiv Database Source: ALPHA TRUST-ANDROMEDA | Data: 30
Slide 4: Ownership
Ownership 70,00% 60,00% 50,00% 40,00% 30,00% 20,00% 10,00% 0,00% Institutional Individuals Own Shares 31/12/2024 30/09/2025
Slide 5: Attractive Mandate
Attractive Mandate Focus on hidden opportunities Hidden investment opportunities in the mid and small cap categories due to the lack of research coverage Aiming at a high dividend yield Andromeda’s dividend yield by far exceeded the ASE’s yield in the past 7 years Active management – benchmark agnos
Slide 6: Mid-Small Cap Focus
Mid-Small Cap Focus Andromeda’s portfolio vs. ASE’s Companies: Break down by size of companies 100% 90% 80% 70% 60% Market Cap (€) 50% 40% <1 bn <1 bn and >200m <200m 30% 87,4% 8,62% 3,98% 20% 10% 33,3% 16,82% 32,82% 0% > 1 bn < 1bn and > 200mn < 200 mn ASE ALPHA TRUST ANDROMEDA
Slide 7: Fund Facts
Fund Facts Top 10 Holdings % of Portfolio Asset Class Breakdown Portfolio Breakdown by Industry QUEST HOLDINGS 6.18% Technology 15.98% Industrial 11.48% LAMDA DEVELOPMENT SA 3.67% Consumer, Cyclical 11.45% PROFILE SA 3.38% Banks 9.02% PETROS PETROPOULOS 3.36% Basic Materials 8.96% MOTOR OIL 3.28% Co
Slide 8: Dividend yield Comparison
Dividend yield Comparison ✓ Andromeda’s dividend yield exceeded that of the market in 6 of the last 7 years and it is expected to exceed it in the current year ✓ Andromeda’s dividend is “after tax” while ATHEX’s dividend yield is “before tax” 9.20% 7,50% 7,60% 7.39% 6.00% 6,20% 5.30% 5.10% 5,20% 4.5
Slide 9: NAV Performance
NAV Performance Andromeda’s NAV has outperformed the ATHEX Composite Total Return Index since the launching of Greek strategy 400% Since the change of 338.24% investment strategy to 350% purely Greek (24/10/11), the fund has delivered a 300% 284.48 return of 11.18% p.a. 250% 200% 150% 100% 50% 0% -5
Slide 10: Stock Performance
Stock Performance The generous dividend payout combined with dividend reinvestment, boosts stock performance Since change of Performance update Q3 YTD 2024 2023 2022 2021 2020 investment strategy to purely Greek (24/10/11), the fund has delivered a NAV Per Share 5.45% 18.54% 9.15% 26.41% -12.55% 24.
Slide 11: Correlation with ASE Indices
Correlation with ASE Indices Low correlation with ASE Indices renders Andromeda a low-risk addition to a Greek equity portfolio ATHEX Total ATHEX High ATHEX Mid Andromeda Return Index Dividend Yield Index Cap Index Std. Deviation 13.68% 18.08% 15.28% 16.05% Correlation with 87.88% 88.02% 87.15% Andr
Slide 12: NAV Shows Lower Volatility vs Overall Market
NAV Shows Lower Volatility vs Overall Market A rather defensive portfolio NAV Performance ALPHA TRUST-ANDROMEDA Athex Composite Total Return Index Best year (2023) 26.4% 43.5% Worst year (2014) -14.6% -28.3% Number of positive years 8 8 Number of negative years 4 4 Source: ALPHA TRUST | Data: 2013 -
Slide 13: Unjustified Stock Discount
Unjustified Stock Discount Median Discounts of Smaller Companies' Closed End #of Median Discount Funds listed in London CEFs European Smaller Companies 4 7.74% Asia Pacific Smaller Companies 2 10.54% Global Smaller Companies 4 10.03% North American Smaller Companies 1 9.02% Japanese Smaller Companie
Slide 14: First Half 2025 Results
First Half 2025 Results P&L (€ ,000) 1H2025 1H2024 Gross income from portfolio management €5,029 €2,111 Gross profit €4,049 €1,478 Earnings Before Tax (EBT) €3,839 €1,282 Earnings After Tax (EAT) €3,776 €1,195 Key indicators 30/06/2025 30/06/2024 Net Asset Value (NAV) €34.39m €30.41m Net Asset Value
Slide 15: Board of Directors
Board of Directors Each member of the Board has extensive experience in the financial sector and the capital markets Margatita Eleni Vasileios Vlachochristou Linardou Kletsas Chairman, Vice Chairman, CEO, Executive Member Independent, Independent Non-Executive Member Non-Executive Member Alexios Efi
Slide 16: Communication with Shareholders and Investors
Communication with Shareholders and Investors Maria Marina Printsiou Corporate Secretary & Investor Relations Email m.printsiou@andromeda.eu Phone +30 210 62 89 341
Slide 17: THANK YOU
THANK YOU ALPHA TRUST-ANDROMEDA Investment Trust S.A. L. 3371/2005 Company, License: Hellenic Capital Market Commission Decision 5/192/6.6.2000, G.C.R: 003882701000 - 1 Aristeidou Street, 14561 Kifissia, Tel: +30 210 6289100, +30 210 6289341 www.andromeda.eu info@andromeda.eu @Alpha Trust Andromeda
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