ICG Enterprise Trust PLC (LSE:ICGT)

Half Year 2026 ICG Enterprise Trust PLC Earnings Call Transcript

Oct 7, 2025 / 11:30 AM GMT

Release Date Price: £14.96 (-0.93%)

Transcript

Key Points

Positve

ICG Enterprise Trust PLC (LSE:ICGT) reported strong earnings growth of 15% over the last 12 months, showcasing the resilience of its portfolio companies.
The company achieved total proceeds of 222 million pounds in H1, surpassing the total proceeds of the previous full fiscal year.
ICG Enterprise Trust PLC increased its secondaries exposure, investing $42 million in secondaries, representing over 35% of total investments in H1.
The company has a dedicated investment team focused solely on the trust, with over 60 years of combined experience, enhancing its investment strategy.
ICG Enterprise Trust PLC returned 28 million pounds to shareholders through dividends and buybacks in H1, with buybacks adding 3.3% to NAV per share total return.

Negative

The H1 NEV per share total return was only 0.7%, impacted by a negative foreign currency effect of 2%.
Realizations in the private equity market have been muted, affecting the overall cash flow and investment cycle.
The portfolio return on a sterling basis was just over 0.1% due to the strengthening of sterling, offsetting local currency growth.
The company's gearing ratio is at 5%, which, while low, indicates some level of debt exposure.
Despite strong performance, the company faces challenges from the complex and shifting macroeconomic landscape.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ICGT.L - ICG Enterprise Trust PLC
Half Year 2026 ICG Enterprise Trust PLC Earnings Call
Oct 07, 2025 / 11:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. Welcome to ICG Enterprise Trust's half year results for the 6 month to 31st of July 2025.

I'm joined today by Oliver Guardy and Colin Walsh, who will discuss our investment performance and activity in more detail over the course of this presentation.

The slides along with the accompanying results announcement are available on our website.

We will have time for Q&A at the end, so if you'd like to submit a questions, please do so through the online portal at any point in the Q&A box on your screens. We'll then aim to answer those at the end of the session.

With that, Oliver, over to you.

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