Full Year 2024 EPE Capital Partners Ltd Earnings Call Transcript
Key Points
- Strong operational turnarounds at Twin Saver and increases in the valuation of Synerlytic and Crossman due to concluded sale processes.
- Time Bank concluded another capital raising round post year-end at a significant premium to the June carrying value.
- The unlisted portfolio grew 4% year on year, showing resilience despite challenging economic conditions.
- Total realized proceeds since listing of the underlying portfolio reached around ZAR1 billion, indicating successful investment strategies.
- The share price responded positively to recent developments, with the discount narrowing from just under 50% pre-unbundling to around 30%.
- NAV per share declined by 17.9% from ZAR8.56 to ZAR7.3, largely driven by the decline in the share price of the listed portfolio.
- The valuation of Octasia was negatively impacted by the material naira devaluation.
- The listed portfolio contributed ZAR1.38 per share to the decline of the NAV per share.
- The debt at the moment is sitting around ZAR200 million, indicating a need for further deleveraging.
- Market conditions remain challenging with persistent inflation, high interest rates, and geopolitical tensions affecting performance.
Good afternoon, ladies and gentlemen and welcome to the Ethos Capital Full year 2024 results webcast. All participants will be in listen only mode. (Operator Instructions) Please note that this call is being recorded. I would now like to turn the conference over to Antony De Beer. Please go ahead, sir.
Thank you. Good afternoon, everybody and thank you for joining us. We're pleased to present the Ethos capital latest performance to June 2024 and update you on the strategy as of September 2024. This presentation highlights the net performance, the update on the progress that we've made with realizations and an overview of capital allocation choices which the Ethos capital board is exploring in line with the strategy of the business.
Let me start by thanking Peter Hayward the previous CEO for his vision resilience and tremendous commitment to the Ethos capital journey. Since the IPO in 2016, Peter led with the board and shaped the Ethos capital to now representing a mature resilient
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