+++ Press release +++
SGT German Private Equity – Profit of 10.5m EUR
or 0.32 EUR per share in 2021 and positive outlook
Frankfurt/Main, 3 June 2022 – SGT German Private Equity GmbH & Co. KGaA (SGF), a listed Private Equity asset manager, reported a net profit of 10.5m EUR or 0.32 EUR per share in fiscal year 2021, according to its preliminary consolidated financial statements (IFRS) (2020: net loss of 0.05 EUR per share). The segment “Investment”, which mainly contains the heritage VC portfolio acquired under the former company name German Startups Group, reports an operating loss (EBIT) of 0.6m EUR. The new “Asset Management” segment contributes an operating profit (EBIT) of 5.6m EUR to the earnings net of the deduction of 1.8 m EUR depreciation from the purchase price allocation. The profit in asset management derives solely from the launch of the asset management business of SGFs wholly owned subsidiary SGT Capital Pte. Ltd. in Singapore. According to IFRS, the average number of shares in 2021 amounted to 33.1m EUR.
The equity per 31 December 2021 amounts to 38.7m EUR (c. 3.75 EUR per share; 31.12.20: 2.60 EUR per share). This is to be based on 10,311,300 outstanding shares per 31.12.2021 according to IFRS, as the newly issued 50m shares are not yet recognized and booked as equity under IFRS, until the number of shares to potentially be returned by SGT Capital LLC to SGF as of 30.06.2022 is finally determined. As a result of the upcoming reclassification to equity as of 30.06.2022, the absolute equity should grow to an amount of over 180m EUR. SGF is currently holding 2,719,200 treasury shares.
SGF is planning to publish its 2021 annual report in June 2022 and hold its annual general meeting by mid of July 2022.
For 2022, the management expects further growth of the profitable asset management business, successfully launched in 2021, with its sustainable, recurring revenues. The turnover of the full year 2021 should already be achieved in the first half of 2022. The management does also not expect that the Ukraine conflict, the Covid 19 pandemic or the rise in inflation will have a noticeable impact on the business development of SGF.
The management of SGF intends to pass resolutions on the use of the estimated profit 2021 shortly and also to determine the dividend and share buyback strategy going forward.
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About SGT German Private Equity
SGT German Private Equity is a Germany-based listed private equity asset manager with registered office in Frankfurt/Main. Its 100% subsidiary SGT Capital Pte. Ltd. is a global alternative investment and private equity asset manager headquartered in Singapore.
For its new, sector-agnostic private equity fund SGT Capital Fund II with a geographical focus on Europe and North America and a fund lifetime of ten years, SGT is aiming for a target fundraising volume of 1 to 3 billion USD. The management team has many years of senior experience at renowned addresses – global private equity houses, management consultancies and investment banks.
From its origin as a leading German venture capital provider under the German Startups Group brand SGT German Private Equity also holds a heritage portfolio of minority stakes in some promising German Startups.