Tmt Investments Plc · LSE:TMT
Tmt Investments — H1 2024 Earnings Presentation
23 slides from Tmt Investments's earnings presentation, Aug 15, 2024
Slide 1: Interim Results 2024
Investing globally in leading-edge, earlier stage technology companies since 2010 Interim Results 2024 Unaudited interim results for the half year ended 30 June 2024 15 August 2024
Slide 2: Disclaimer
Disclaimer This presentation (the “Presentation”) has been prepared by the directors of TMT Investments Plc (the “Company”). The information in the Presentation is not intended to form the basis of any contract. By attending (whether in person or by telephone) or reading the Presentation, you agree
Slide 3: TMT is a publicly traded company providing exposure to high-growth private companies
TMT is a publicly traded company providing exposure to high-growth, private companies in the technology sector. TMT Investments Plc was admitted to AIM in December 2010, in conjunction with raising $20 million of equity capital (before expenses). Since admission to AIM, TMT has invested in over 100
Slide 4: Highlights
All figures are as of Highlights 30 June 2024 unless otherwise indicated All figures are shown in USD $6.62 $111m $208.1m NAV per share of US$6.62 Total cash proceeds from Total NAV of US$208.1m (unchanged from US$6.62 portfolio companies (unchanged from as of 31 December 2023) since inception 31 De
Slide 5: Share Price and NAV Per Share
Share Price (5 Year) NAV Per Share IRR* IRR* IRR* USD Since inception 5 Years 7 years 12.50 15.3% 12.45% 17.6% $9.30* * Including dividends paid to date *Including dividends paid to date $9.00 10.00 $6.71* $6.92* $6.92* $6.40* $6.62 $6.62 $6.41 7.50 $6.10 5.00 $3.82* $3.19* $3.52 $2.53* $3.09 $1.99*
Slide 6: Experienced management team
Experienced management team Igor Shoifot Yuri Mostovoy James Joseph Mullins Investment Partner Chairman Non-executive Director Top investor in numerous investor rankings Global Head of Quantitative Fixed Income Research, Barclays Chairman of the Audit, Remuneration and Nomination committees 25 years
Slide 7: Experienced management team
Experienced management team Artemii Iniutin Alexander Morgulchik Levan Kavtaradze Co-Founder and Head of Co-Founder and Head of Investments Investment Director Business Development 15 years of investment experience in high tech Serial entrepreneur and investor 15 years of VC and startup experience A
Slide 8: Investment Filters
Investment Filters POST-INVESTMENT ENGAGEMENT INTERNAL PRODUCT Investee Board Meetings, TESTING FROM THE New Investor Introductions CUSTOMER’S Strategic Advice and PERSPECTIV E Exploring Synergies 2,000+ 100+ Deeply Scrutinised Companies Funded 16,500+ 450+ Promising Companies Proposals in 13 Years
Slide 9: Proven Track Record in Creating Value
Proven Track Record in Creating Value (since inception to 30 June 2024) VALUE CREATED CAPITAL INVESTED $310.8M $110.0M FULL PROFITABLE CASH EXITS Value Created VALUE LOST $98.0M $34.0M PARTIAL CASH EXITS AND FULL NEGATIVE OTHER CASH PROCEEDS EXITS $13.1M $25.9M Capital Invested CURRENT PORTFOLIO PAR
Slide 10: Ten Largest Portfolio Investments and Portfolio allocation by sector
Ten Largest Portfolio Investments and Portfolio allocation by sector (as of 30 June 2024) Other Unaudited results for the half year ended 30 June 2024 10
Slide 11: Portfolio Classification by Investees' Sectors
Portfolio Classification by Investees’ Sectors (as of 30 June 2024) Big Data / Cloud Edtech E-Commerce Fintech Mobility Healthtech Other SaaS Unaudited results for the half year ended 30 June 2024 11
Slide 12: Portfolio Map
Portfolio Map (as of 30 June 2024) Late stage Early Mid-stage Unaudited results for the half year ended 30 June 2024 12
Slide 13: Notable revaluations (>10x)
Notable revaluations (>10x) (as of 30 June 2024) Years since first Total value of TMT's Return on TMT's investment stake (US$M)* investment (x) portfolio company 9.9 70.0 218 exit 8.0 44.4 51 portfolio company 10.1 10.0 25 exit 6.0 23.4 23 portfolio company 0.6 5.0 12 portfolio company 8.2 4.0 10 *
Slide 14: Exits
Exits Full Profitable Exits (as of 30 June 2024) Full Profitable Exits Full Profitable Exits Partial Profitable Exits Partial Profitable Exits Partial Profitable Exits Acquirers Acquirers Acquirers Acquirers Unaudited results for the half year ended 30 June 2024 14
Slide 15: Major VCs have invested in our portfolio companies following investment by TMT
Major VCs have invested in our portfolio companies following investment by TMT (as of 30 June 2024) Unaudited results for the half year ended 30 June 2024 15
Slide 16: Portfolio company coverage in global media
Portfolio company coverage in global media Praktika raises $35.5M to use The Benefits of Pursuing Higher Bolt closes €220M revolving credit Earnings call: Backblaze beats Q2 AI avatars to make learning Education Abroad to Unlock facility: a step towards IPO expectations with strong growth languages
Slide 17: TMT's Shareholding Structure
TMT’s Shareholding Structure Issued capital (number of shares) 31,451,538 Treasury shares none (as of 14 August 2024) Shares not in public hands 62.48% Others (16.75%) Alexander Morgulchik, German Kaplun, Artemii Iniutin (via Macmillan Trading Company Limited) Nika Kirpichenko (22.50%) (via Eclectic
Slide 18: TMT's Valuation Methodology
TMT’s Valuation Methodology (as of 31 December 2024) Mid-market price Number of Comparable company Companies Cost and price of recent analysis investment (reviewed for impairment and fair value adjustment) As % of total portfolio value Number of Companies Fair Value (US$M) Mid-market price 9.5 1 19.
Slide 19: Statement of financial position
Statement of financial position At 30/06/2024, USD At 31/12/2023, USD At 31/12/2022, USD At 31/12/2021, USD Investments 199,651,762 203,086,676 195,260,535 265,454,136 Cash and cash 9,875,608 6,590,935 10,102,683 25,527,801 equivalents Other assets 92,089 151,908 1,382,811 2,050,649 Total assets 209
Slide 20: Statement of comprehensive income
Statement of comprehensive income For the For the For the For the six months to year ended year ended year ended 30/06/2024, USD 31/12/2023, USD 31/12/2022, USD 31/12/2021, USD Gains/(Losses) on 467,250 7,357,560 (79,864,874) 98,741,409 investments Bonus scheme payment - - - (9,676,043) charge Admin
Slide 21: Why Invest in TMT Investments Plc?
Why Invest in TMT Investments Plc? • Over 100 investments to date since inception Proven Track • 19 full and partial profitable exits since inception • 15.3% IRR since inception including dividends paid to date Record • Two special dividends paid to date ($2.8m in Nov 2016 and $5.8m in July 2020) •
Slide 22: Investor recognition of TMT's value
Investor Spotting the multi-bagger recognition of tech start-ups Alexander Selegenev and Igor Shoifot from TMT Investments provide guidance TMT’s value for What Investment readers on the art of choosing those elusive stocks that will make returns of several times their cost M any private investors w
Slide 23: Registered office and contact details
Registered office: 13 Castle Street, St Helier, Jersey, JE1 1ES Tel. +44 (0) 370 707 4040 Via Computershare [email protected]