Actualización comercial y operativa
28 de marzo de 2024
Duque Capital Limited
("Duke Capital", "Duke" o la "Compañía")
Actualización comercial y operativa
Duke Capital Limited (AIM: DUKE), a leading provider of hybrid capital solutions for SME business owners in Europe and North America, is pleased to provide the following trading update for its third quarter of the financial year ending 31 December 2023 ("Q3 FY24"), and to provide guidance on trading for its fourth quarter ending 31 March 2024 ("Q4 FY24").
Actualización comercial del cuarto trimestre del año fiscal 3
· Recurring revenue for Q3 FY24 reached a record of £6.3 million, an increase of 12% over Q3 FY23. Total cash revenue was also £6.3 million.
· Q3 FY24 represents over three continuous years of increasing quarterly recurring cash revenue, with total growth of 350% from los £1.8 millones in the quarter ending September 2020 to £6.3 million for the last quarter ending December 2023.
Q4 FY24 Trading Guidance
· Duke forecasts total cash revenue of £10.2 million in Q4 FY24, a record quarter marking the first time Duke has generated more than £10 million in a single quarter. This represents a material 30% increase over the Company's previous record of £7.8 million which was achieved in Q1 FY24.
· During the quarter, Duke delivered two material and profitable buyouts, that have returned over £19 million which the Company will use for near-term deployments in new and existing partners.
· Duke expects to achieve recurring cash revenue of £5.8 million in Q4 FY24, a small decrease versus the previous quarter. While the recent buyouts have resulted in increased total cash revenue, until this capital is redeployed, there is a temporary impact of reduced recurring cash revenue.
Descripción general del crecimiento de los ingresos trimestrales:
| Ingresos en efectivo recurrentes* | Ingresos totales en efectivo** |
Q3 FY23 | EUR 5.6 millones | EUR 5.6 millones |
Q4 FY23 | EUR 5.7 millones | EUR 5.8 millones |
Q1 FY24 | EUR 6.0 millones | EUR 7.8 millones |
Q2 FY24 | EUR 6.2 millones | EUR 6.2 millones |
Q3 FY24 | EUR 6.3 millones | EUR 6.3 millones |
* Recurring cash revenue excludes exit premium receipts and cash gains from equity sales
** Total cash revenue is monthly cash distributions from Duke's partners plus cash gains received from the sales of equity assets and exit premiums
Actualización operacional
· In February, Duke completed a £2.9 million secondary share purchase from existing shareholders in United Glass Group, increasing its equity stake from 30% to 74%, in line with Duke Capital's vision to deepen its engagement with its high performing partners.
· In March, Duke delivered two highly profitable exits from Fabrikat and Fairmed Healthcare, which has significantly bolstered Duke's liquidity which currently stands at approximately £44 million.
· The Company has a strong pipeline of both new and follow-on opportunities for capital partners to deploy additional liquidity.
· During the quarter, Duke also completed its change of name and renewed messaging. The review has focused on ensuring that Duke's unique offering is communicated to business owners and stakeholders in a way which provides greater clarity and improves comparison when evaluating a broad array of financing options.
Neil Johnson, director ejecutivo de Duke Capital, dijo:
"We are delighted to show a record quarter of total cash revenue following the successful exits of two of our investments. Fabrikat particularly highlighted the value of Duke's capital, having financed an MBO by three executives in 2021, facilitating an exit three years later at a 36% IRR. We look forward to redeploying the capital from these exits into our pipeline of immediate and longer-term opportunities, driving a return in the short-term to delivering record quarterly recurring cash revenues.
Following the completion of our name change and corporate re-branding, Duke Capital is looking forward to FY25 with renewed optimism. With a strengthened liquidity position and strong pipeline, we are well-equipped to navigate the challenges and opportunities that lie ahead, while remaining cautious of the economic backdrop."
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Para más información, visite https://dukecapital.com/ o contacte:
Duque Capital Limited | Neil Johnson/Charles Cannon Brookes/Hugo Evans
| +44 0 1481 231 816 |
Cavendish Capital Markets Limited (asesor designado y conjunto Broker) | Stephen Keys / Callum Davidson / Michael Johnson | +44 0 207 220 0500
|
Canaccord Genuity Limited (Articulación Broker)
| Adam James/Harry Rees | +44 0 207 523 8000 |
SEC Newgate (Comunicaciones financieras) | Elisabeth Cowell / Alice Cho / Matthew Elliott | + 44 (0) 20 3757 6882 GME@dhr-rgv.com |
Acerca de Duke Capital
Duke es un proveedor líder de soluciones de capital híbrido para propietarios de PYME en Europa y América del Norte, que combina las mejores características de capital y deuda.
Desde 2017, Duke ha proporcionado financiación única a largo plazo que elimina el riesgo de refinanciación y la necesidad de una salida a corto plazo al proporcionar una "hipoteca corporativa" única y al mismo tiempo alinear sus rendimientos para crecer con el éxito del negocio.
Duke se centra en generar retornos atractivos ajustados al riesgo para los accionistas y tiene un historial de lograrlo en todos los ciclos del mercado. Sus tres pilares de inversión son la preservación del capital, un rendimiento de dividendos atractivo y proporcionar ventajas tras las salidas.
Duke cotiza en el mercado AIM con el símbolo DUKE y tiene su sede en Guernsey.
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