Icg Enterprise Trust Plc Gbp · LSE:ICGT
Icg Enterprise Trust Plc Gbp — ICG Enterprise Trust — Q3 FY2025 Earnings Presentation
14 slides from Icg Enterprise Trust Plc Gbp's earnings presentation, Jan 23, 2025
Slide 1: Trading update for the period ended 31 October 2024
Trading update for the period ended 31 October 2024 23 JANUARY 2025 For professional investors only. Not for onward distribution Note: All data as at 31 October 2024 unless specified PRIVATE AND CONFIDENTIAL
Slide 2: Portfolio Manager perspectives
Portfolio Manager perspectives • NAV per Share Total Return during the quarter of 3.0% • Second consecutive quarter of 3%+ Portfolio Return on a Local Currency Basis • Evolving our medium-term target portfolio composition towards more secondary and direct investments • To date our shareholder-focuse
Slide 3: Actively-managed portfolio seeking to generate long-term compounding growth
Actively-managed portfolio seeking to generate long-term compounding growth All private Buyouts Developed Mid-market and Top-tier equity markets larger deals managers Defensive More consistent Primarily in North More likely to be Track records of growth returns profile, with America and resilient an
Slide 4: Q3 in review
Q3 in review PERFORMANCE OF OUR INVESTMENT STRATEGY RETURNS TO SHAREHOLDERS (LAST TWELVE MONTHS) Portfolio Total Return (LTM) Capital Return (LTM) • Portfolio Return of 3.1% on a Local Currency Basis Share Price Total Return £53m1 • NAV per Share Total Return of 3.0% 16.1% ~1/2 from buyback • Closin
Slide 5: Portfolio activity overview
Portfolio activity overview Primary Direct Secondary Total ICG-managed Portfolio Return on a Local Currency Basis 2.8% 3.6% 3.2% 3.1% 3.8% Portfolio Return on a Sterling Basis 2.8% 3.5% 3.1% 3.0% 3.4% New Investments £27m £5m £4m £35m £4m Proceeds £25m £3m £6m £34m £4m New Fund Commitments £7m – – £
Slide 6: Direct co-investment case study: BSI Software
Direct co-investment case study BSI Software ~£5M Alignment with ICGT strategy A defensive market position, a mission-critical product and an attractive financial profile TOTAL INVESTMENT Co-investment made alongside Bregal Unternehmerkapital Unique product offering (specialised by vertical and Stru
Slide 7: Active portfolio management
Active portfolio management Investment stage Investment strategy Geography Target Target Target weighting weighting weighting Primary ~40-50% North ~50% Buyout 100% America Secondary ~25-30% Europe ~50% Venture & Growth 0% Direct ~30-35% Other n/a Equity Actively-managed portfolio and rigorous portf
Slide 8: Shareholder-focused approach to distributions
Shareholder-focused approach to distributions TOTAL SHAREHOLDER DISTRIBUTIONS (DIVIDENDS + BUYBACKS) £58m1 Dividends £35m Intended FY25 dividend £21m £22m £18m £17m Long-term buyback 2 Opportunistic buyback FY20 FY21 FY22 FY23 FY24 FY25 (to date) Of opening 2.5% 2.1% 2.2% 1.9% 2.7% 4.5%1 NAV 3 PROGR
Slide 9: Long-term track record of delivering for shareholders
Long-term track record of delivering for shareholders L5Y (ANNUALISED) L10Y (ANNUALISED) Portfolio Return1 +16.0% +15.3% NAV per Share Total Return +13.8% +13.5% Share Price Total Return +8.5% +10.8% 1 Portfolio Return on a Local Currency Basis Source: ICG Enterprise Trust, as at 31 October 2024 Pas
Slide 10: Q&A
Q&A For follow-up questions after the event, please email: icg-enterprise@icgam.com To receive regular updates and insights from our Portfolio Managers, sign up to our newsletter here PRIVATE AND CONFIDENTIAL
Slide 11: Appendix
Appendix PRIVATE AND CONFIDENTIAL
Slide 12: Liquidity
Liquidity • At 31 Oct 2024, total available liquidity of £107m. On 23 Dec 2024, ICGT announced an increase to the size of the revolving credit facility from €240m to €300m to accommodate portfolio growth. Pro forma for this increase, ICGT would have had total available liquidity of £158m • Net debt
Slide 13: Performance figures
Performance figures Performance for 12 months ending: 31 October 2024 31 October 2023 31 October 2022 31 October 2021 31 October 2020 NAV per Share Total Return 3.6% 3.8% 19.9% 33.2% 11.1% Share Price Total Return 16.1% 11.6% (17.6)% 56.3% (9.8)% FTSE All-Share Index Total Return 16.3% 5.9% (2.8)% 3
Slide 14: Legal notice
Legal notice What this document is for This document has been prepared by ICG Alternative Investment Limited (“ICG AIL”) as manager of ICG Enterprise Trust plc (“ICG Enterprise”). The information and any views contained in this document are provided for general information only. It is not intended t
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