26 Jan 2023 07:00
26 January 2023
ROUND HILL MUSIC ROYALTY FUND LIMITED
(the "Company")
Registration number: 68002
Legal Entity Identifier: 213800752UO1CJTV8C39
Unaudited quarterly Net Asset Value and factsheet
Round Hill Music Royalty Fund is pleased to announce the unaudited Economic Net Asset Value as at 30 September 2022 was US$481.0 million (US$442.1 million:30 September 2021). This represents an Economic Net Asset Value per share of US$1.18 (US$1.06:30 September 2021). The Company's dividend cover was 0.9x[1].
Net revenue for the nine months to 30 September 2022 was up 38.3% year on year, to US$23.2 million. Net revenue for the quarter ending 30 September 2022 was up 133.3% year on year, to US$10.3 million.
REVENUE (IFRS): (US$ millions) | QTD Q3 2022 | QTD Q3 2021 | YTD Q3 2022 | YTD Q3 2021 | YTD % Change |
Royalty Income | $13.4 | $4.9 | $27.5 | $21.1 | 30.0% |
Royalty Expense | $(4.0) | $(1.2) | $(6.7) | $(5.8) | 14.7% |
Investment Income | $1.5 | $0.9 | $3.6 | $1.9 | 85.4% |
Investment Expense | $(0.7) | $(0.2) | $(1.2) | $(0.5) | 147.9% |
Total | $10.3 | $4.4 | $23.2 | $16.8 | 38.3% |
Round Hill Music Royalty Fund Limited has today published its quarterly factsheet to the end of December 2022. Copies can be downloaded from the Company's website: www.roundhillmusicroyaltyfund.com
FOR FURTHER INFORMATION
Round Hill | |
Josh Gruss, Founder and CEO | via Buchanan below |
Steve Clark, COO | |
Cenkos | |
Sales: | |
Justin Zawoda-Martin | +44 20 7397 1923 |
Daniel Balabanoff | +44 20 7397 1909 |
Andrew Worne | +44 20 7397 1912 |
Corporate: | |
James King | +44 20 7397 1913 |
Will Talkington | +44 20 7397 1910 |
Buchanan | |
Charles Ryland | +44 20 7466 5107 |
Henry Wilson | +44 20 7466 5111 |
Hannah Ratcliff JTC Mariana Enevoldsen | +44 20 7466 5102
+44 1481 702 485 |
Notes:
Unless the context otherwise requires, capitalised terms used in this announcement have the meanings in the Company's prospectus published on 19 October 2020, as supplemented by a supplementary prospectus published on 3 November 2020.
About Round Hill Music Royalty Fund Limited
The Company is a non-cellular Guernsey company. The Company's investment objective is to provide investors with an attractive level of regular and growing income and capital returns from investment primarily in high quality, music intellectual property. In order to achieve this, the Company invests in a songwriter's copyright interest in a musical composition or song (being their writer's share, their publisher's share and their performance rights) together with the rights in the recording of the musical composition or song (known as the master recording rights) together with all such rights and assets considered by its investment manager, Round Hill Music LP, to be ancillary thereto.
About Round Hill Music LP
Founded in 2010, Round Hill Music LP is a fully integrated owner and operator of music copyright properties. With offices in Nashville and London, Round Hill Music LP has an experienced management and investment team with an established reputation and extensive experience in the music and finance industries.
[1] In the first half of 2022, the Company successfully deployed the remainder of the C Share capital through the acquisitions of David Coverdale and Alice In Chains catalogues. Following the completion of the acquisitions, the C Shares were converted into new Ordinary Shares and received a full dividend in relation to the quarter ending 31 March 2022. Due to the lag in receipt of royalty payments, revenues from these catalogues are expected to begin to be reflected in late 2022.