Gresham House

LN: GHE

Market Cap£343m

Last Close 895p

Gresham House is a specialist alternative asset manager focused on sustainable investments with strategies in public and private equity and real assets including forestry, renewable energy, battery storage, housing and sustainable infrastructure.

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Investment summary

Gresham House has a strong position in alternative asset management with a sustainability focus, areas that are expected to experience continued strong growth. Many of the real assets managed are deemed to offer a measure of inflation protection. Most assets managed are in long-term structures generating an average gross revenue margin of 1%. The group is ahead of schedule in delivering its five-year plan and has established a successful track record for acquisitions. Employees are aligned with shareholders, holding c 10% of the shares.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2020A 41.9 12.1 12.1 32.92 27.2 18.2
2021A 70.4 20.5 20.2 49.31 18.2 16.2
2022E 74.2 26.1 25.9 52.14 17.2 13.4
2023E 84.4 31.0 30.8 58.55 15.3 12.0
Content on Gresham House
Gresham House – ESG specialist manager delivering its strategy
Financials | research Initiation | 4 May 2022
business audits using a calculator financial data investment fund at a workplace, wealth concept
Gresham House – executive interview
Financials | Edison TV | 6 April 2022
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Share price graph
Balance sheet
Forecast net cash (£m) 66.3
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (7.7) 6.6 (6.3)
Relative* (6.5) 3.7 (8.7)
52-week high/low 1005.0p/765.0p
*% relative to local index
Key management
Tony Dalwood CEO
Kevin Acton CFO
Andy Hampshire COO
Rupert Robinson MD of Investment Management Business
Samee Khan CLO