REG - HgCapital Trust PLC - Q1 2023 Report to 31 March 2023

HgCapital TrustAnnouncement

15/05/2023 07:00

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RNS Number : 3269Z  HgCapital Trust PLC  15 May 2023

HgCapital Trust plc

Legal Entity Identifier: 213800J7QUJJBEFSIN38

 

 Q1 2023 report to 31 march 2023

 

London, 15 May 2023:  HgCapital Trust plc ('HGT'), today announces its Q1
results for the period ended 31 March 2023.

 

Highlights over the period include:

 

¡ Strong portfolio trading continued to be the main driver of performance,
contributing to a total return NAV increase of 4.0%, closing the period at
470.6p NAV per share and net assets of £2.2 billion

 

¡ Share price total return of -0.9% over the period, closing at 343.0p per
share and a market capitalisation of £1.6 billion

 

¡ Revenue and EBITDA growth of 30% and 27% respectively across the top 20
investments (77% of the portfolio) over the last twelve months.

 

¡ As previously disclosed, the secondary sale of 25% of Hg Genesis 8
completed in Q1 priced at 100% of NAV (as at 31 December 2022) and delivering
£91 million back to HGT, valued at 3.2x cost. A further £135 million
post-period, including proceeds from the previously announced realisation of
Transporeon which completed in April.

 

¡ Further investments completed in Q1, deploying £16 million.

 

¡ Final dividend of 4.5p per share proposed, to be paid in May (full year
dividend of 7.0p per share).

 

¡ Available liquid resources of £647 million (30% of NAV) and outstanding
commitments of £1.0 billion (47% of NAV), including all announced
transactions and the proposed dividend to be paid in May.

 

HGT's resilient portfolio has continued to trade well over the first quarter
of 2023. The broader operating environment remains challenging, however, the
strong market positions and pricing power evident across the companies in the
HGT portfolio, has supported their strong performance.

 

HGT's Q1 2023 Report and a presentation from Hg to accompany the results are
available to view at:
https://www.hgcapitaltrust.com/investors/results-and-presentations/year/2023
(https://www.hgcapitaltrust.com/investors/results-and-presentations/year/2023)

- Ends -

 

For further details:

          HgCapital Trust plc
          Laura Dixon (Senior Investor Relations Manager, Hg)     +44 (0) 78 2459 2894
 Brunswick
 Azadeh Varzi                           +44 (0)20 7404 5959

 

About HgCapital Trust plc

 

HgCapital Trust plc is an investment company whose shares are listed on the
London Stock Exchange (HGT.L). HGT gives investors exposure, through a liquid
vehicle, to a portfolio of high-growth unquoted companies, managed by Hg, a
leading investor in European and transatlantic software and services
businesses.

 

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

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