Positive: ICG Enterprise Trust plc reports strong Q3 performance with increased NAV and portfolio activity.

From GlobeNewswire: 2025-01-23 02:00:00

ICG Enterprise Trust plc released their Q3 update for the three months ended 31 October 2024. Highlights include a NAV per Share of 1,997p, NAV per Share Total Return of 3.0% in Q3, and a long-term compounding return of 13.8% annualized over the last 5 years. The company continues to invest through the cycle, with total new investment of £35.2m and total proceeds of £34.4m. They also renewed their opportunistic share buyback program for FY26 of up to £25m. The Portfolio Return on a Local Currency Basis for the quarter was 3.1%, with a closing portfolio value of £1,445m.

The Portfolio activity overview for Q3 FY25 shows that ICG-managed investments accounted for 31% of the total portfolio. Realization proceeds of £34.4m were generated during the quarter, with 12 full exits completed with a weighted average uplift to carrying value of 17.9%. New investments totaled £35.2m, with primary investments accounting for 76% of the total. The company also made commitments to a new fund totaling £7.5m. The balance sheet and liquidity position were strong, with total available liquidity at £107m and net debt of £95m at the end of October 2024.

In terms of dividends and share buybacks, a third quarter dividend of 8.5p per share was declared, with the board intending to pay total dividends of at least 35p per share for FY25. The company also renewed their opportunistic share buyback program for FY26 of up to £25m. Notable activity since the period end included new investments of £23m and realization proceeds of £29m. The balance sheet flexibility was further enhanced with an increase in the revolving credit facility from €240m to €300m post period-end.



Read more at GlobeNewswire: Q3 update for the three months ended 31 October 2024