Investcorp Capital reports Q1 FY24 financial results with 44% YoY net income increase

Investcorp Capital reports Q1 FY24 financial results with 44% YoY net income increase

Investcorp Capital plc (the “Company” or “Investcorp Capital”) (ADX symbol: “ICAP”/ISIN: “AEE01354I230”), an investor in private markets and provider of capital financing services in the alternative investments space, today announced its financial results for Q1 FY24 (“ending 30 September 2023”), with the Company delivering positive growth underpinned by strong business activity.

The Company posted a net profit of USD 13 million, a 44% increase compared to the same period last year. The growth demonstrates the effectiveness of management strong decision-making by Investcorp Capital in navigating the current landscape [environment?]. Return on Equity (“ROE”) of 10% was calculated on a Last Twelve Months (“LTM”) basis, and gross operating income was USD 19 million, with total operating expenses of USD 3 million. The income-to-expense ratio stands at 6.3x.

Investcorp Capital’s portfolio diversification showed that 74% of assets invested in recurring fee/yield generating assets (excluding cash), and the Company’s borrowing amount of USD 163 million results in a leverage ratio of 0.13x, indicating a conservative financial position.

KEY METRICS

  Sep ‘23 Jun ‘23 Total assets (USDm) 1,469 1,426 Gross leverage ratio 0.13x 0.03x Co-investment / long-term capital ratio 0.60x 0.63x Return