+++ Press release +++
SGT German Private Equity significantly outperforms its guidance in terms of revenue and profit 2021
Frankfurt/Main, 22 December 2021 – The 100% subsidiary of SGT German Private Equity in Frankfurt (SGF), SGT Capital Pte. Ltd. (SGTPTE), a licensed private equity asset manager headquartered in Singapore, has reported revenues of just under 11 million EUR in the second half of 2021 (1H21: nil EUR). The management of SGTPTE is now expecting a net profit of about 6 million EUR for the full year 2021. Since its acquisition has become effective on 26 January 2021, the subsidiary is fully consolidated by SGF, hence the profit positively affects the IFRS consolidated result. At Group level, SGF’s management is expecting a net profit in the order of 5 million EUR for the full year 2021 (1H21: -0.2 million EUR) after amortization of 2 million EUR related to an intangible asset in connection with the acquisition of SGTPTE (IFRS consolidated). This corresponds to an expected net profit in the order of 0.08 EUR per outstanding share (0.50 EUR per share based on the average number of shares according to IFRS).
SGT German Private Equity thus significantly outperforms its guidance in terms of revenue and presumably in terms of profit 2021.
SGF acquired SGTPTE in the beginning of 2021 in order to transform its previous business model of investing from its own balance sheet into the asset management of investor capital. In doing so, it is pursuing the strategy of generating sustainable, predictable profitability, in particular from asset management fees, and returning to a growth path.
The revenues generated by the asset management subsidiary mark the beginning of the income streams expected from the transformed business model of SGT German Private Equity. These will shape the future profitability of SGT German Private Equity.
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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.