HgCapital
Trust plc
Results FOR THE THREE MONTHS
ENDED 31 MARCH 2024
CONTINUED POSITIVE NAV
performance
delivered FROM a RESILIENT
PORTFOLIO OF software and serviceS businesses
London, 9 May 2024: HgCapital
Trust plc ('HgT'), today announces its results for the three months
ended 31 March 2024.
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.
Highlights over Q1 2024 include:
¡ Strong portfolio trading and
value creation continues to drive growth, leading to a total return
NAV increase of 3.0% to a NAV per share of £5.11 and net assets of
£2.3 billion.
¡ Continued strong long-term
performance driven by robust trading with the top 20 investments
(78% of the portfolio by value) seeing last 12 months sales and
EBITDA2 growth of 24% and 29%
respectively.
¡ Robust balance sheet with
available liquid resources of £657 million (28% of NAV), including
a bank facility of £375m which is currently undrawn, and
commitments to Hg funds of £826 million (35% of NAV), to be
invested over the next three to four years.
¡ 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 2024 and assuming all historic dividends have been
reinvested, an investment of £1,000 twenty years ago would now be
worth £23,182, a total return of 2,218%3. An
equivalent investment in the FTSE All-Share Index would be worth
£4,008.
- Ends
-
The
Company's Q1 2024 Report and full presentation to accompany the
results are available to view at: http://www.hgcapitaltrust.com/.
For further
details:
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HgCapital Trust plc
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Laura Dixon (Senior Investor
Relations Manager, Hg)
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+44 (0) 78
2459 2894
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Brunswick
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Sofie Brewis
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+44
(0)20 7404 5959
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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
and www.hgcapital.com
