Hamilton Global Opportunities plc (ALHGO.PA) Published Its 2023 Half-year Financial Results and Activity Report
16 August 2023 - 6:00PM
Business Wire
- Highlights for the first half of 2023:
- Loss for the period of €315,634
- Net assets of €14,053,208 as at June 30, 2023
- Follow on investment in Gauzy Ltd, a world leader in smart
glass and ADAS technologies, in the form of a convertible
note
Regulatory News:
Hamilton Global Opportunities plc (Paris:ALHGO) provides 2023
half-year financial statements and operation report. The 2023
half-year financial report is available on the company’s website,
in the Investor section (hamiltongo.eu).
PERFORMANCE
Assets as at 30 June 2023 (in
€)
June 30, 2023
June 30, 2022
Tangible assets
3 018
3 871
Investments
12 935 965
12 726 184
Fixed Assets
12 996 083
12 787 155
Trade and other receivables
242 858
240 764
Cash at bank and in hand
1 252 087
1 974 280
Total Assets
14 491 028
14 975 199
Liabilities (excluding deferred
tax)
(105 071)
(159 543)
Net Asset Value (excluding
deferred tax)
14 385 957
14 815 656
Deferred tax liability
(332 749)
(429 448)
Net assets
14 053 208
14 386 208
Details of evolution in the financials since 31 December
2022
As at 30 June 2023 a loss for the period of €315 634 compared to
a profit before tax of €2 094 718 at the end of June 2022. This
small operating loss is mainly due to fluctuations in the foreign
exchange markets.
Net Assets stood at €14.05m vs €14.4m as of 31 December 2022.
The change in Net Assets during the first half resulted mainly from
the operating costs incurred during the period. Hamilton’s net cash
position as of 30 June 2023 was €1.252m. The Net Asset figure also
includes a residual tax reserve of €332 749 for unrealized gains
following the revaluation of certain investments in the course of
2022.
Highlights of the first half of 2023 and post-closing
events
Follow on investment in Gauzy Ltd, a world leader in smart
glass and ADAS technologies
On March 29, 2023 Hamilton Global Opportunities plc completed a
€333,350 follow on investment in Gauzy Ltd. Gauzy is a true pioneer
of nanotechnology for light and vision control, is the only
material science company in the world developing, manufacturing,
and marketing two of the three active smart glass technologies: SPD
and Liquid Crystal, and advanced ADAS (advanced driver assistance
systems) including CMS (camera monitoring systems) for long body on
road vehicles. Gauzy has significant development potential given
the numerous high value-added applications in everyday life for its
diverse product range, such as the possibility of instantly
modulating the transparency or translucency of glass used in
windows across the automotive and architectural industries for
shading, privacy, and thermal regulation, and making vehicle
operation safer with blind spot reduction through its high
performance ADAS products.
Management of Foreign Exchange exposures
Hamilton Global Opportunities plc is exposed to movements in the
EUR USD exchange rate which has remained volatile not only over the
current accounting period but also since the company’s listing in
April 2021. In order to mitigate the effect of this volatility on
the financial results of the company management have implemented a
hedging program. Under that hedging program management enters into
enhanced forward hedging agreements which benefit from an option
overlay whose purpose is to limit the potential downside of any
such hedges. This hedging strategy has limited the negative impact
of currency movements in the period to 30 June 2023 to €203 924 out
of a total loss in the period of €315 634. However, over the entire
period since listing in 2021 and despite significant volatility in
the currency markets the hedging strategy has ensured that there
has been little or no impact of those currency movements on the
financial performance of the company.
Gustavo Perrotta, Founder and Chief Executive Officer of
Hamilton Global Opportunities plc declares: “We remain in
active contact with our portfolio companies and despite extremely
challenging market conditions our portfolio companies continue to
perform well. This continued performance by our portfolio companies
has underpinned the Net Asset Value of the portfolio and we remain
confident that we are on course to meet our strategic objectives in
the coming years.”
About Hamilton Global Opportunities
Hamilton Global Opportunities PLC (“HGO”) is an investment
company listed on the Euronext Growth Market focusing on
investments in Tech, Fintech and MedTech principally in the United
States and Israel. The HGO management team has significant relevant
experience in structuring direct investments in the areas above
mentioned. For more information, please visit: hamiltongo.eu
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230816608734/en/
Hamilton Global Opportunities Gustavo Perrotta
Founder & CEO gp@hamiltongo.eu
Gavin Alexander Director ga@hamiltongo.eu
Andrew Wynn Member of the Investment Committee
aw@hamiltongo.eu
NewCap Théo Martin / Louis-Victor Delouvrier Investor
Relations hamilton@newcap.eu +33 (0)1 44 71 98 53
NewCap Nicolas Merigeau Media Relations
hamilton@newcap.eu +33 (0)1 44 71 94 98
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