Electra Private Equity 2014 final results

DividendMax Ltd.

Electra Private Equity 2014 final results

Financial Highlights

Diluted NAV per share up 15% to 3,174p

Diluted NAV per share, including dividends, up 262% over ten years equivalent to a ten-year annualised return of 14%, at the upper end of the long-term target of 10-15% per annum

Return per share (diluted) of 419p for the year

Share price up 19% against a 6% total return for the FTSE All-Share

Share price total return of 248% over ten years against 120% for the FTSE All-Share

Investment portfolio of £1,272 million equivalent to 106% of net assets

£166 million of liquid resources net of bank borrowings


Record level of investment, building on a record 2013

£410 million invested - largest individual investments: Hotter Shoes, Elian (formerly Ogier Fiduciary Services), Console Group, The Original Bowling Company and Innovia Group

£352 million realised (inclusive of income)

£246 million total portfolio return, 25% on the existing portfolio for the year, following effective operational and value creation work

Largest individual gains: AXIO Data Group (£57 million), Park Resorts (£51 million), Zensar Technologies (£40 million), South Lakeland Parks (£22 million) and Nuaire (£18 million)

Commenting on the results, Roger Yates, Chairman of Electra Private Equity, said:

"Electra has had an excellent year, with another record level of new investment and strong performance from its investment portfolio.

"The performance from some of the recent investments in the portfolio is extremely encouraging and perfectly demonstrates the investment selection and value creation skills of Electra Partners.

"The 15% NAV per share total return over the year was again at the upper end of Electra's long-term target range of between 10% and 15% per year. Electra is well positioned to continue to deliver outstanding returns for its shareholders."

Companies mentioned