Heliad Equity Partners

DB: HPBK

€37.5m market cap

€3.8 last close

Heliad Equity Partners is a Germany-based investment company focused on listed and unlisted smaller companies in German-speaking countries. Investments typically comprise growth and venture stage technology companies operating disruptive business models or addressing structural issues.

Investment summary

Heliad has experienced a c 50% reduction in NAV per share in FY18 and reported a loss per share at €5.72. This was driven by the overall negative market sentiment, but also company-specific challenges, in particular at Sleepz. We understand that the recent changes in the company’s management (with two board members of its largest shareholder FinLab replacing the previous CEO) are a consequence of this poor performance. The company’s shares now trade at a c 29% discount to last reported NAV.

Share price graph
Price performance
%
1m
3m
12m
Actual (18.1) (34.3) (59.1)
Relative* (16.9) (37.7) (55.6)
52-week high/low €9.3/€3.7
*% relative to local index
Key management
Thomas Hanke CEO