NAV rebound continued into Q325

HgT has reported its Q325 results with a 2.4% increase in NAV per share, which marks a continuation of the rebound seen in Q225 following the negative impact of a weaker public market environment in Q125. HgT’s NAV total return (TR) for the first nine months (9M25) was therefore 1.9%. A continued positive contribution from portfolio earnings growth (4.3pp positive impact on portfolio valuation in Q325) and 1.4pp of fx tailwinds were partly offset by lower valuation multiples and higher net debt across HgT’s portfolio. Last 12-month revenue and EBITDA growth to end-September 2025 across HgT’s portfolio remains consistently in double-digit territory at 18% and 19%, respectively (of which 11% and 16% are organic growth). This is coupled wit...