Vef Ab (VEFAB) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

good day and thank you for standing by welcome to the vef first quarter 2025 earnings conference call and webcast at this time all participants will be in listen-only mode after the speaker's presentation there will be a question and answer session to ask a question during the session you need to press star one and one on your telephone you will then hear an automated message advising your hand is raised to withdraw your question please press star one and one again Please note that today's conference is being recorded. I would now like to turn the conference over to your first speaker, David Nangle, CEO. Please go ahead. Yeah, thank you very much. And good morning, good afternoon, everybody. Thank you for joining us on our Q1 results conference call. As always, I'm joined by our CIO, Alexis Camudos, for this call. And what we'll do over the next 10 to 15 minutes is first focus on the results themselves, give you a highlight and update on that. And then the second part of the call, we'll focus more, we'll get more depth in the call on recent exits and capital allocation, which is the focus of the firm at the moment. The slides are available on our website and also I'll go through them on the webcast. Going on to slide number three, just giving you a key overview of the events of the quarter. I think in the NAV itself, we had a 1% move quarter on quarter in dollar NAV positive. And a number of moving parts as always, but generally it was strong underlying company performance and a tailwind of currencies versus the U.S. dollar, which met some headwinds on the multiple sides of equity markets to feed into our valuations. And from a portfolio point of view, it's a repetition of the message over the last few quarters. It really is all about a quality portfolio, the majorit...