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News Release
Guernsey, 22 March 2022
Princess publishes Annual Report 2021
Princess Private Equity Holding Limited ("Princess" or the "Company") today published its Annual Report for 2021. The key items were:
· Net asset value ("NAV) increased to EUR 15.26 per share, representing a total return of +19.4% for the year.
· Share price total return over the same period was +29.3%.
· Princess paid a total dividend of EUR 0.67 per share during the year, in line with previous guidance to distribute 5% of opening NAV for each financial year. For 2022, the Company intends to maintain the level of distributing 5% of the opening NAV via semi-annual payments in June and December.
· Realizations amounted to EUR 462.5 million, including the exits of GlobalLogic, Foncia and Cerba HealthCare, as well as from the sale of a minority stake in International Schools Partnership.
· Investment activity totalled EUR 342.4 million comprising new investments in Foncia II, DiversiTech, International Schools Partnership II, Telepass and Breitling as well as add-on investments in several portfolio companies to finance M&A activity.
Richard Battey, Chairman comments: "During 2021 we have seen an extraordinary comeback since the early shocks of the pandemic, with most of our portfolio companies having successfully navigated COVID-19 disruptions. In an active year of realizations, Princess received record distributions of EUR 462.5 million driven by its direct portfolio. Partners Group, the Investment Manager of Princess, remained highly selective in its investment process, deploying a total EUR 342.4 million on behalf of the Company. Besides new direct investments, the substantial amount includes add-on investments in portfolio companies to finance M&A activity and to further drive value creation initiatives through entrepreneurial governance. My fellow Directors and I would like to take this opportunity to thank investors for the confidence they have shown in Princess during these times of increasing economic volatility. Princess is well placed to continue creating value for its shareholders over the years to come and we will continue to work with Partners Group to achieve this goal."
A detailed analysis and commentary on the developments of Princess during 2021 is presented in the Annual Report published today, which can be accessed via: https://www.princess-privateequity.net/en/investor-relations/financial-reports/
A copy of the above document has been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Ends.
About Princess
Princess is an investment holding company founded in 1999 and domiciled in Guernsey. It invests, inter alia, in private equity and private debt investments. Princess is managed in its investment activities by Partners Group, a global private markets investment management firm with USD 127 billion in investment programs under management in private equity, private debt, private real estate and private infrastructure. Princess aims to provide shareholders with long-term capital growth and an attractive dividend yield. Princess is traded on the Main Market of the London Stock Exchange (ticker: PEY for the Euro Quote; PEYS for the Sterling Quote).
Contacts
Princess Private Equity Holding Limited:
www.princess-privateequity.net
Registered Number: 35241
LEI: 54930038LU8RDPFFVJ57
Investor relations contact
Email: [email protected]
Media relations contact
Jenny Blinch
Phone: +44 207 575 2571
Email: [email protected]
This document does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities and neither is it intended to be an investment advertisement or sales instrument of Princess. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about and observe any such restrictions on the distribution of this document. In particular, this document and the information contained therein are not for distribution or publication, neither directly nor indirectly, in or into the United States of America, Canada, Australia or Japan.
This document may have been prepared using financial information contained in the books and records of the product described herein as of the reporting date. This information is believed to be accurate but has not been audited by any third party. This document may describe past performance, which may not be indicative of future results. No liability is accepted for any actions taken on the basis of the information provided in this document. Neither the contents of Princess' website nor the contents of any website accessible from hyperlinks on Princess' website (or any other website) is incorporated into, or forms part of, this announcement.
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