09 Oct 2017

Results for six months to 31 July 2017

Strong performance and excellent progress against strategic goals.

  • NAV per share of 937p - total return of 8.7% in the six months
    • Continued strong operating performance and realisation activity across the portfolio
    • Largest 30 underlying companies generating earnings growth of 15%
  • Highly cash generative portfolio - record period of proceeds
    • £117m received in the period; 20% of the opening portfolio value
    • Realisations at 36% uplift to carrying value; 3.1x multiple to cost
  • Selective investment into compelling opportunities
    • £65m invested in the six months
    • Capital deployed into high conviction investments gaining momentum; 54% of new investment in H1
    • Flexibility to adapt investment mix according to where we see the best relative value
  • Strategic benefits of move to ICG continue to add significant value
    • £16m co-investment in Domus Vi alongside ICG Europe VI
    • £8m co-investment in Visma alongside ICG Europe VI completed in September 2017
    • £24m of commitments to two US based managers
    • £10m secondary investment in restructuring of ICG Recovery Fund 2008B
  • Continued excellent short, medium and long-term outperformance
Performance to 31 July 2017* 6 months 1 year 3 year 5 year 10** year
Net asset value per share +8.7% +20.1% +45.9% +77.4% +120.7%
Share price (total return) +8.1% 29.5% +38.2% +116.0% +102.2%
FTSE All-Share Index (total return) +7.1% +14.9% +25.7% +65.0% +70.4%

* All figures are on a Total Return basis
** As the Company changed its year end in 2010, the ten year figures are for the 121 month period to 31 July 2017.

Jeremy Tigue, Chairman, commented:

“These results continue your Company’s excellent long-term performance, with both the net asset value and share price outperforming the FTSE All-Share Index over one, three, five and ten years.

“I have been a Board member of the Company for almost a decade and have observed first-hand the evolution of the investment portfolio and the significant shareholder value created by the team’s excellent long-term track record and highly selective investment approach.

“The team’s move to ICG early in 2016 has allowed ICG Enterprise Trust to further build on its flexible mandate. I am delighted with the excellent progress we have made against a number of strategic goals and believe that the strategic benefits of the team’s move to ICG will continue to add significant shareholder value and drive outperformance of the wider market.”

Share price (ICGT)

34.00P (3.23%)
3:07AM 17 May 2022
The share price information is delayed by at least 15 minutes

Net Asset Value

As of 31 January 2022
Full year results for the twelve months ended 31 January 2022
Year Net assets NAV per share Share price Dividends per share
Jan 2021 £952m 1,384p 966p 24p
Jan 2020 £794m 1,152p 966p 23p
Jan 2019 £731m 1,057p 822p 22p
Jan 2018 £664m 959p 818p 21p
Jan 2017 £613m 871p 698p 20p
Jan 2016 £521m 731p 545p 11p
Jan 2015 £507m 695p 575p 15.5p
Jan 2014 £494m 677p 563p 15.5p
Jan 2013 £460m 631p 487p 5p
Jan 2012 £415m 569p 357p 5p
Jan 2011 £389m 534p 308p 2.25p
Dec 2009 £338m 464p 305p 2.25p
Dec 2008 £327m 449p 187p 4.5p