REG - HgCapital Trust PLC - 1st Quarter Results

HgCapital TrustAnnouncement

08/05/2025 07:01

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RNS Number : 7695H  HgCapital Trust PLC  08 May 2025

HgCapital Trust plc

Results FOR THE THREE MONTHS ENDED 31 MARCH 2025

 

LTM trading growth IN EXCESS OF 20%

delivered FROM a RESILIENT PORTFOLIO OF software and serviceS businesses

 

London, 8 May 2025:  HgCapital Trust plc ('HgT'), today announces its results
for the three months ended 31 March 2025.

 

HgT provides investors with a listed vehicle to invest in a portfolio of
unquoted businesses managed by Hg, which in aggregate represents one of the
largest and fastest growing technology firms in Europe(1).

The objective of HgT is to provide shareholders with consistent long‑term
returns in excess of the FTSE All‑Share Index by investing predominantly in
unquoted companies where value can be created through strategic and
operational change.

Key financials include:

 

¡ HgT's NAV per share declined by 2.0% over the period, as a result, at the
quarter end the NAV per share stood at £5.31 with net assets of £2.4
billion.

 

¡ The share price showed a decrease of 5.5% in the quarter with the discount
to NAV per share at 5%.

 

¡ Trading performance across the portfolio continues to be strong and in-line
with that seen in recent quarters, contributing 5% to NAV growth in the
quarter, however in aggregate this was offset by lower valuation multiples.

 

¡ Continued long-term performance driven by robust trading, with the
investment portfolio seeing last 12 months sales and EBITDA(2) growth of 20%
and 21% respectively, with EBITDA margins of 33%.

 

¡ Robust balance sheet with available liquid resources (comprising all
post-period transactions and the proposed dividend to paid in May) of £461
million (19% of NAV), including an undrawn bank facility of £375 million, and
commitments to Hg funds of £1.4 billion (59% of NAV), to be invested over the
next three to four years.

 

¡ Realisations over the quarter of £49 million, with further exits
post-period of £102 million, continuing to demonstrate the attraction of the
underlying investments.

 

¡ Investments completed in Q1 deploying £46 million, with estimated
post-period investments of £232 million. Co-investments now represent 10% of
portfolio value, increasing from 9% at the start of the year.

 

¡ Hg continues to screen an attractive pipeline of investment opportunities
and further liquidity events are expected over the next six to twelve months.

 

Based on HgT's share price at 31 March 2025 and assuming all historic
dividends have been reinvested, an investment of £1,000 twenty years ago
would now be worth £16,038, a total return of 1,504%. An equivalent
investment in the FTSE All-Share Index would be worth £3,831.

(1) By Enterprise Value, Source: Hg, Factset

2 Excluding investments valued on a basis other than earnings

Note: All references to total return allow for all historic dividends being
reinvested

Please note: Past performance is not a reliable indicator of future results.
The value of shares and the income from them can go down as well as up as a
result of market and currency fluctuations. You may not get back the amount
you invest.

 

- Ends -

 

The Company's Q1 2025 Report and full presentation to accompany the results
are available to view at:  http://www.hgcapitaltrust.com/
(http://www.hgcapitaltrust.com/)

 

 

For further details:

HgCapital Trust plc

 George Crowe         +44 (0)20 8152 5880
 Laura Dixon          +44 (0)20 8078 9139

 Cadarn Capital (PR)
 Lucy Clark           +44 (0) 7984 184461
 David Harris         +44 (0) 7368 883211

 

About HgCapital Trust plc

 

HgCapital Trust plc, whose shares are listed on the London Stock Exchange
(ticker: HGT.L), gives investors exposure through a liquid vehicle to a
portfolio of high-growth private companies in the software and services
sector. The selection of new investments and creation of value in these
businesses are managed by Hg, an experienced and well-resourced private equity
firm with a long-term track record of delivering superior risk-adjusted
returns for its investors. For further details, please see
www.hgcapitaltrust.com.

 

For further details, see www.hgcapitaltrust.com
(http://www.hgcapitaltrust.com) and www.hgcapital.com
(http://www.hgcapital.com)

 

 

 

 

 

 

 

 

 

 

 

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