- Net asset value per share indicator was PLN 17.22 as compared to PLN 13.98 a year before (a year-on-year increase of 23.2%). The annual plan assumes PLN 19.75.
- Consolidated net profit of PLN 47.5 million.
- Net assets worth PLN 1.080 billion as compared to PLN 873 million a year before (a year-on-year increase of 23.7%).
- Investment certificates on 31 March 2015 amounted to PLN 1.421 billion (a year-on-year increase of 28%).
- Successful public offering of Private Equity Managers S.A. shares and a debut of a company managing private equity asset on the Warsaw Stock Exchange.
MCI Group’s net asset value per share indicator, which is the best indicator of the financial condition of private equity funds, at the end of first quarter of 2015 stood at PLN 17.22, which means a 23.2% increase as compared to the same period last year. In this period MCI Group generated a consolidated net profit of PLN 47.5 million. The largest contributors to this result were an increase in the value of investment certificates of MCI.TechVentures (by PLN 23.9 million) and MCI.EuroVentures (by PLN 22.1 million) as well as an increase in the value of MCI.CreditVentures 2.0 certificates (by PLN 3.4 million). Investment certificates of funds owned by MCI Management amounted to PLN 1.421 billion at the end of March 2015, which means a year-on-year increase of 28% against Q1 2014). Net assets increased by 23.7% during the year and reached PLN 1.080 billion. Since the beginning of 2015 till the publication of this report, investments funds whose certificates MCI owns exited 5 investments for a total of over PLN 400 million.
‘This is the first time when MCI and PEManagers will publish their results separately. I’m glad that we can demonstrate to MCI shareholders a considerable increase of net asset value per share and a high net profit’, said Cezary Smorszczewski, President of the Management Board of MCI Management S.A. ‘Our strategic aim continues to be building value for our shareholders by a steady increase of the NAV per share indicator and an increase of the share price’ – he added.
MCI forecasts that at the end of 2015 the value of net assets per share will be at a level of PLN 19.75. Judging by the Q1 results, MCI is on the right track to meet these objectives.
From March 2014 to March 2015 MCI share price increased by 28%. As at 31 March 2015 P/BV ratio was 0.70, which means that MCI is still valued by investors with a significant discount as compared to the Company’s book value.
Investment funds whose certificates MCI holds are planning to increase their investments this year. PLN 400 million is to be designated for this purpose by the end of the business year.