Pantheon International Regulatory News (PIN)

Hardman & Co Research on Pantheon International Plc:

Exceptional companies, long-term outperformance

The November 2022 factsheet gave some key information, including the NAV (469.5p), NAV return (4%), net cash generation (£34m), distributions (£111.5m), calls (£77.5m), period-end cash (£52m) and commitments (£848m, including £303m new commitments). The 1H results announcement showed that i) uplifts on exits were 33%, slightly above the FY’12-22 average, ii) exits were at an average 3.1x multiple to cost, iii) 54% of the portfolio is invested directly in companies, iv) average revenue and EBITDA growth of 23.0% and 10.6%, respectively, were well ahead of benchmarks, and v) the EV/EBITDA multiple was 17.3x. We note that the PEG is 1.6x, around a fifth of the benchmark.

Please click on the link below for the full report:

https://hardmanandco.com/research/corporate-research/exceptional-companies-long-term-outperformance/

If you are interested in meeting the company, you can register your interest by clicking on the above link

Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.

About Hardman & Co: Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Attention is drawn to the important disclaimers at the end of the report.