Apax Global Alpha Ltd (LSE:APAX) Q3 2024 Earnings Call Highlights: Strong Portfolio Performance ...

GuruFocus.com11-08

Release Date: November 07, 2024 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Apax Global Alpha Ltd (LSE:APAX) reported an ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481817089?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-08 21:00","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2481817089","market":"us","top_or_hot":-1,"title":"Apax Global Alpha Ltd (LSE:APAX) Q3 2024 Earnings Call Highlights: Strong Portfolio Performance ...","media":"GuruFocus.com","content":"<div>\n<p>Release Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nApax Global Alpha Ltd (LSE:APAX) reported an ...</p>\n\n<a href=\"https://finance.yahoo.com/news/apax-global-alpha-ltd-lse-130027084.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apax Global Alpha Ltd (LSE:APAX) Q3 2024 Earnings Call Highlights: Strong Portfolio Performance ...</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApax Global Alpha Ltd (LSE:APAX) Q3 2024 Earnings Call Highlights: Strong Portfolio Performance ...\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 21:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/apax-global-alpha-ltd-lse-130027084.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Release Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nApax Global Alpha Ltd (LSE:APAX) reported an ...</p>\n\n<a href=\"https://finance.yahoo.com/news/apax-global-alpha-ltd-lse-130027084.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TWKS","symbol_name":"Thoughtworks Holding Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/apax-global-alpha-ltd-lse-130027084.html","article_id":"2481817089","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481817089","pubTimestamp":1731070827,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"For the complete transcript of the earnings call, please refer to the full earnings call transcript.Apax Global Alpha Ltd  reported an improvement in portfolio performance for Q3 2024, with a NAV of approximately EUR1.2 billion.The private equity portfolio is well-positioned with continued good earnings growth, contributing to a 1.7% increase in NAV per share on a constant currency basis.The company has seen strong exit activity, with six full exits in the period returning an average of 2.7x cost.The new capital allocation framework, including regular dividends and a distribution pool for buybacks, aims to enhance shareholder value and provide income certainty.Foreign exchange headwinds negatively impacted total NAV return per share, resulting in a slight decline of 0.2% for the quarter.The debt portfolio experienced a return of minus 2.2% in Q3 2024, primarily due to foreign exchange headwinds.Despite the commencement of buybacks, they have not yet had a measurable impact on NAV per s","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"TWKS":"Thoughtworks Holding Inc."},"translate_title":"Apax Global Alpha Ltd(LSE：APAX)2024年第三季度收益看涨期权亮点：强劲的投资组合表现...","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TWKS":0.9},"content_text":"Release Date: November 07, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nApax Global Alpha Ltd (LSE:APAX) reported an improvement in portfolio performance for Q3 2024, with a NAV of approximately EUR1.2 billion.\nThe private equity portfolio is well-positioned with continued good earnings growth, contributing to a 1.7% increase in NAV per share on a constant currency basis.\nThe company has seen strong exit activity, with six full exits in the period returning an average of 2.7x cost.\nApax Global Alpha Ltd (LSE:APAX) has returned EUR67 million to shareholders through share buybacks and dividends, equivalent to over 5% of opening NAV for 2024.\nThe new capital allocation framework, including regular dividends and a distribution pool for buybacks, aims to enhance shareholder value and provide income certainty.\n\n Negative Points \n\nForeign exchange headwinds negatively impacted total NAV return per share, resulting in a slight decline of 0.2% for the quarter.\nThe decision to no longer have a dedicated team focused on healthcare may limit opportunities in this sector.\nThe debt portfolio experienced a return of minus 2.2% in Q3 2024, primarily due to foreign exchange headwinds.\nThe increase in net debt levels in the portfolio, driven by M&A activities, could pose financial risks.\nDespite the commencement of buybacks, they have not yet had a measurable impact on NAV per share.\n\n Q & A Highlights \n\nWarning! GuruFocus has detected 3 Warning Sign with LSE:APAX.\n\nQ: Can you provide more details on the impact of foreign exchange on the NAV return per share? A: Ralf Russ, Partner, explained that while the total NAV return per share was up 1.7% on a constant currency basis, foreign exchange headwinds resulted in a slightly negative total NAV return per share of 0.2% for the quarter.\nQ: What is the current exposure to listed holdings in the Private Equity portfolio? A: Ralf Russ noted that following recent exits, the exposure to residual listed holdings has reduced significantly. Pro forma for ThoughtWorks, the listed exposure was approximately 4% of AGA's net asset value at the end of September.\nQ: Could you elaborate on the new capital allocation framework? A: The framework includes regular semi-annual dividends set at 11p per share per annum, equivalent to 5.4% of AGA's September NAV. Additionally, a distribution pool was created for buybacks, initially funded with EUR30 million, with EUR2.2 million worth of shares bought back in Q3.\nQ: What is the investment thesis for the recent acquisition of ThoughtWorks? A: The Apax XI fund plans to take ThoughtWorks private to accelerate transformation and operational improvements, which are believed to be more effectively accomplished in a private setting. AGA's total indirect look-through exposure in ThoughtWorks is expected to be EUR54 million once the transaction closes.\nQ: How has the debt portfolio performed in Q3 2024? A: The debt portfolio achieved a return of minus 2.2% or positive 0.3% on a currency-adjusted basis, primarily impacted by foreign exchange headwinds. Despite this, the portfolio maintains a strong income yield of approximately 9%, with an average yield to maturity of 11% at the end of the quarter.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481817089"}