“Edison’s accessible and high-quality research gives us the opportunity to communicate an independent perspective of Tyman to a wide variety of potential stakeholders.”
Currency in GBP
Last close As at 25/03/2023
GBP0.57
▲ 0.85 (1.51%)
Market capitalisation
GBP584m
IP Group helps to create, build and support IP-based companies internationally focused on companies that meaningfully contribute to regenerative (renewable), healthier (life sciences) and tech-enriched (deep tech) futures. The group has an international footprint, with investment platforms in the UK, Australia, New Zealand and the United States.
IP Group provides liquid exposure to a growing portfolio of high-growth science-based start-ups from its international ecosystem. The company invests primarily in life sciences, deep tech and renewables, and is increasingly focused on companies that will have an impact, delivering a regenerative, healthier and tech-enriched future.
Director, Financials
David Baynes
CFO
Greg Smith
CEO
Sir Douglas Flint
Chairman
Forecast net debt (£m)
N/A
Forecast gearing ratio (%)
N/A
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | (9.5) | 0.2 | (40.6) |
| Relative | (5.1) | (0.9) | (40.0) |
| 52 week high/low | 96.4p/52.9p |
IP Group’s NAV per share came in at 132.9p at end 2022, down 20% year-on-year in total return terms but only 2% below the end-June 2022 level. The NAV decline during 2022 was primarily due to the £428.5m loss from listed holdings (before FX changes, mostly Oxford Nanopore Technologies, ONT), while private holdings contributed gains before FX of c £101.4m (or 5.8% of opening NAV). Excluding ONT, IP Group posted a £25.2m profit in 2022. The company will focus on driving short- to medium-term returns from its more developed holdings and devote resources to its ‘priority companies’, which it believes will underpin its self-sustaining model (its top 20 holdings make up 71% of portfolio value).
| Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2020A | 234.2 | 191.9 | 189.0 | 17.6 | 3.2 | 3.2 |
| 2021A | 508.9 | 460.2 | 457.2 | 41.9 | 1.4 | 1.3 |
| 2022E | N/A | N/A | N/A | N/A | N/A | N/A |
| 2023E | N/A | N/A | N/A | N/A | N/A | N/A |
Get access to the very latest content matched to your personal investment style.
