Bailador Technology Investments Limited

ASX:BTI

Bailador Technology Investments Limited

ASX:BTI
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$1.250 (-0.4%)
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#31
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Forum Topics BTI BTI ASX Announcements

Pinned straw:
Foolednomore
Last edited 10 months ago

MEDIA RELEASE

Bailador Technology Investments Limited Half Year 2024 Results ASX-listed technology expansion capital fund, Bailador Technology Investments Limited (“Bailador”, ASX:BTI), is pleased to release its interim financial results for the six months ending 31 December 2023 (“HY24”).

Key HY24 highlights include:

• Net profit attributable to shareholders totalling $22.0m (up $27.2m on HY23)

• Interim dividend declared totalling 3.5 cents per share fully franked represents an annualised 5.2% yield on BTI shares1 (7.0% on a grossed up basis)

• Post-tax NTA per share up 8% to $1.64; up 10% after including dividends paid in September 2023

• The BTI portfolio ended 2023 in a strong position with combined portfolio revenue of $379m (41% growth over last 12 months)

• $52m cash proceeds2 from full cash realisation of InstantScripts delivered 61% IRR

• $29m of capital deployed over the last 12 months across new and existing portfolio companies

• Dividend reinvestment plan (“DRP”) active with a 2.5% discount

• BTI is well positioned with Net Cash3 of $94m (Dec-23) to take advantage of additional investment opportunities

happy to add a wee bit more IRL
Strawman
Added 10 months ago

A solid result indeed @Foolednomore

Not that the market seems to care, haha!

The thesis remains unchanged:

  • An aligned management team with a good track record of capital allocation (past realisations have an average of 23% IRR)
  • A conservative carrying value of investments (all past realisations have been above carrying value).
  • Shares at significant discount to NTA (which itself is conservatively estimated) -- remembering too only ~28% of their NTA is based on private company valuations.
  • Rock solid balance sheet with $94m in net cash (represents 36% of NTA)
  • We're getting a 7% grossed up yield along the way (although this will be lumpy)


Hard to think of a better way to get access to early-stage unlisted technology/growth.

[HELD]

41
wtsimis
Added 10 months ago

Concur on the results .

Very nice and assuming similar dividends were to be paid in the coming year presents as a grossed up yield of nearing 10% over the next 13months.

Happy to top up a little more this morning

Disc Holder in RL and SM

18