Q1 2023 Apax Global Alpha Ltd Earnings Call Transcript
Thanks, and good morning, everyone. Thanks for joining AGA's Q1 results presentation. My name is Ralf Gruss. I'm the COO of Apax, and a member of Apax Global Alpha's Investment Committee. I look forward to taking you through the presentation and will answer any questions you may have at the end of the call.
It's not been long since our last update, and there have been little movement in the portfolio since we last spoke. AGA currently provides shareholders with access to 79 Private Equity portfolio companies, and these companies continue to perform well in the first quarter, showing good earnings growth, with EBITDA up 15.6% over the last 12 months despite the challenging and volatile market backdrop.
This helped drive NAV return, which was 1.9% in the quarter, with currency being a headwind in the period though. Adjusting for currency movements, total return would be 2.8%. Adjusted NAV was broadly flat year-on-year at EUR 1.3 billion despite the payment of the dividends. On a per share basis, this translates to EUR 2.63 or EUR 2.31 per
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