Blue Owl Capital Inc. · NYSE:OWL
Blue Owl Capital — Blue Owl Credit Income — Q4 2023 Earnings Presentation
16 slides from Blue Owl Capital's earnings presentation, March 2024
Slide 1: Blue Owl Credit Income Corp. Quarterly Earnings Presentation
December 31, 2023 Blue Owl Credit Income Corp. Quarterly Earnings Presentation FINANCIAL REPORTING PROVIDED TO INSTITUTIONAL AND EXISITING INVESTORS ONLY. NOT MARKETING MATERIAL. PROPRIETARY AND CONFIDENTIAL 1
Slide 2: Risk Factors
Risk Factors An investment in Blue Owl Credit Income Corp. (“OCIC”) is speculative and involves a high degree of risk, including the risk of a substantial loss of investment, as well as substantial fees and costs, all of which can impact an investor's return. The following are some of the risks invo
Slide 3: Review of Q4 2023
Review of Q4 2023 • Net asset value per share: • Class I: $9.50, up from $9.43 as of 9/30/2023 • Class D: $9.49, up from $9.41 as of 9/30/2023 • Class S: $9.48, up from $9.40 as of 9/30/2023 Earnings Summary • Net investment income per Class I share of $0.28, flat to $0.28 as of 09/30/2023 • Net inc
Slide 4: Financial Highlights
Financial Highlights (Dollar amounts in thousands, except per share data; per share data reflects Class I shares and is based on weighted average shares outstanding during the period, except as otherwise noted) Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Net Investment Income Per Share $0.23 $0.27 $0.2
Slide 5: Portfolio Highlights
Portfolio Highlights As of and For Three Months Ended Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 (Dollar amounts in thousands) Investments at Fair Value $10,707,584 $11,591,024 $13,099,644 $14,367,280 $16,662,093 Number of Portfolio Companies 206 220 242 261 280 Average I
Slide 6: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity For Three Months Ended (Dollar amounts in thousands) Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $1,137,504 $645,483 $1,757,867 $1,807,226 $3,491,188 N
Slide 7: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix $16.7bn 280 30 $240mm 11.4% Portfolio Portfolio Portfolio Company Portfolio Size Portfolio Yield2 Companies Industries EBITDA1 Weighted Average Borrower Statistics1: 3%2% 1% 4% Q3 2023 Q4 2023 7% Revenue $979mm $1,040mm 90% Senior EBITDA $234mm $240mm Secured Net LTV
Slide 8: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Healthcare providers and services 14.8% Associa: 2.7% Winland Foods: 1.9% Humanetics: 1.7% PCF Insurance: 1.7% Internet software and services 12.8% Senior Loan Fund: 1.6% 5 Hour Energy: 1.6% Insurance 9.7% Anapl
Slide 9: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition As of (Dollar amounts in thousands, except per share data; per share Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 data is based period end shares, except as otherwise noted) Assets Investments at Fair Value $10,707,584 $11,591,024
Slide 10: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) Dec. 31, 2022 Mar. 31, 2023 Jun. 30, 2023 Sept. 30, 2023 Dec. 31, 2023 Investment Income Interest Income $244,486 $278,339 $328,866 $376,305 $437,488 Dividend Income $18,733 $24,067 $30,918 $29,481
Slide 11: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 12/31/23 as a percentage of total debt investments at cost and fair value were 0.1% and 0.1%, respectively. At quarter end 12/31/23, there were 2 portfolio companies on non-accrual. (Dollar amounts in thousands) Internal M
Slide 12: Financing Landscape
Financing Landscape Aggregate Principal Amount Principal Committed / Amount Maturity Outstanding Outstanding Interest Rate Date Debt Maturities ($mm)7, 8 Revolving Credit Facility $1,945 million $133 million SOFR + 2.00% 11/2/28 $4,197 2 SPV Asset Facility I $525 million $200 million Blended 8.17% 9
Slide 13: Dividend Summary
Dividend Summary Dividends & Dividend Yield Based on NAV per Share1 $0.30 11.6% 12.0% $0.25 9.6% 9.7% $0.07 9.7% 10.0% $0.02 $0.02 $0.02 $0.20 8.9% 8.8% 8.8% 8.8% 8.7% 8.0% 8.3% 7.2% 7.5% $0.15 6.0% $0.21 $0.21 $0.10 $0.20 $0.20 $0.20 $0.19 4.0% $0.17 $0.17 $0.05 2.0% $0.00 0.0% Q1'22 Q2'22 Q3'22 Q4
Slide 14: Dividend History
Dividend History Date Payment Dividend Dividend Per Date Payment Dividend Dividend Per Declared Record Date Date Type Share Declared Record Date Date Type Share 2/23/2021 3/31/2021 4/28/2021 March ‘21 Monthly Dividend $0.05 7/14/2022 8/31/2022 9/30/2022 August ‘22 Special Dividend $0.01 2/23/2021 4/
Slide 15: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 12/31/2023. Past performance is not a guarantee of future results. The information contained in this presentation should be viewed in conjunction with the Company’s most recently-filed Quarterly Report on Form 10
Slide 16: FINANCIAL REPORTING PROVIDED TO INSTITUTIONAL AND EXISITING INVESTORS ONLY. NOT MARKETING MATERIAL.
FINANCIAL REPORTING PROVIDED TO INSTITUTIONAL AND EXISITING INVESTORS ONLY. NOT MARKETING MATERIAL. 6075901.6
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