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PRESS RELEASEs

2018

 

Zug, 29 March 2018 – Spice Private Equity Ltd (the “Company”, ticker symbol “SPCE”) today released its 2017 results:

 

2017 was a truly remarkable year for Spice Private Equity. Following the comprehensive review of our investment guidelines in 2016 we took a major step towards the implementation of our new strategy by investing USD 55 million in two direct investments; LEON Restaurants Ltd. (“LEON” or “LEON Restaurants”) and Rimini Street, Inc. (“Rimini” or “Rimini Street”) in which Spice is playing a leading and active role. Concurrently, we were able to improve our liquidity by collecting in full USD 75 million in proceeds resulting from the earlier sale of legacy assets. This puts us in a strong position, with a debt-free balance sheet and ample liquidity to pursue prudent and opportunistically further investments in a variety of sectors.

 

Given our significant cash position and allocation to new investments, NAV per share was largely unchanged from 2016 to 2017, with a slight decrease of 0.8%.

 

The new direct investments (Leon and Rimini Street) that were added to our portfolio in 2017 represented more than 27% of Spice’s total NAV as of 31 December 2017, with their performance posting an appreciation of USD 4.1 million within the annual results. The performance of our Legacy Portfolio (including our remaining funds portfolio and the Africa Oil co-investment) generated a positive total of USD 1.0 million, mainly due to the positive amount of USD 3.6 million in realized returns from distributions, which are mostly related to proceeds from the conclusion of the Magnesita-RHI merger transaction. Our Legacy Portfolio has also contributed positively to our performance with USD 0.5 million in dividends received, again largely driven by RHI-Magnesita.

 

Spice’s expenses (excluding transaction costs) totaled USD 6.8 million in 2017, representing a reduction of 13% versus 2016 and 22% versus 2015. This reflects the significant impact of the cost-cutting efforts implemented throughout the last two years. Results were also impacted by one-off transaction costs of USD 2.0 million, due to the increase in investment activities in 2017.

 

The Company generated other positive results (mainly financial results) of USD 1.4 million in 2017. Considering revenues and expenses, the result for the year was therefore negative by USD 1.7 million.

 

Thanks to the two new transactions, Spice was able to increase its private equity investments allocation to almost 50% of total NAV at the end of 2017, compared to nearly 20% in 2016. Nevertheless, the Company’s liquidity position remains strong. This enables Spice to continue pursuing attractive opportunities, as in the case of the announced transaction with Bravo Brio, which remains subject to closing conditions.

 

Finally, the Company’s share price increased by 11.2% during 2017, reaching USD 28.90 compared to USD 26.00 in 31 December 2016.The discount to NAV thus decreased by 7.4 percentage points, to 31.1%, as of 31 December 2017.

 

The 2017 Annual Report is available on the Company's website.

 

For further information, please contact:

Rodrigo Boscolo
Investor & Media Relations
Phone: +41 41 710 70 60
Email: investor.relations@spice-private-equity.com
Web: www.spice-private-equity.com

   

 

 

Press Release - Download PDF

Annual Report 2017 - Download PDF


 

 

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Media Response

Finanz & Wirtschaft, 06.04.2016

Würzige Rezeptur

 

L'Agefi, 13.11.2015

Bon départ après repositionnement

 

Finanz & Wirtschaft, 30.05.2015

Spice im Wandel

 

NZZ, 28.05.2015

Aus Apen wird Spice

 

L'Agefi, 28.05.2015

Le ciblage différencié comme société de private equity

 

NZZ Online, 27.02.2015

Apen wird ab 2. März als Spice Private Equity firmieren

 

finanzen.ch, 27.02.2015

Apen wird ab 2. März als Spice Private Equity firmieren

 

Le Temps, 27.02.2015

Apen s'appellera Spice Private Equity dès le 2 mars

 

Romandie.com, 27.02.2015

Apen s'appellera Spice Private Equity dès le 2 mars

 

Reuters, 26.02.2015

Apen says shareholders approve name change to Spice Private Equity Ltd

 

NZZ Online, 05.01.2015

Apen verkauft Legacy-Portfolio und wird zur Spice Private Equity

 

Finanz und Wirtschaft Online, 02.01.2015

Beteiligungsgesellschaft Apen würzt das Portefeuille

 

moneycab, 05.01.2015

Apen verkauft Legacy-Portfolio und wird zur Spice Private Equity

 

Cash Online, 04.01.2015

Apen verkauft Legacy-Portfolio - Neuer Name lautet Spice Private Equity Ltd.

 

Financial Statements

 

ANNUAL REPORTS

 

1999 – 2017

Annual Report 2017

Annual Report 2016

Annual Report 2015

Annual Report 2014

Annual Report 2013

Annual Report 2012

Annual Report 2011

Annual Report 2010

Annual Report 2009

Annual Report 2008

Annual Report 2007

Annual Report 2006

Annual Report 2005

Annual Report 2004

Annual Report 2003

Annual Report 2002

Annual Report 2001

Financial Report 2000

Annual Report 2000

Annual Report 1999

 

INTERIM REPORTS

 

2018

Semi-Annual Report as of June 2018

 

2017

Semi-Annual Report as of June 2017

 

2016

Semi-Annual Report as of June 2016

 

2015

Interim Report as of September 2015

Interim Report as of June 2015

Interim Report as of March 2015

 

2014

Interim Report as of September 2014

Interim Report as of June 2014

Interim Report as of March 2014

 

2013

Interim Report as of June 2013

Interim Report as of March 2013

 

2012

Interim Report as of September 2012

Interim Report as of June 2012

Interim Report as of March 2012

 

2011

Interim Report as of September 2011

Interim Report as of June 2011

Interim Report as of March 2011

 

2010

Interim Report as of September 2010

Interim Report as of June 2010

Interim Report as of March 2010

 

2009

Interim Report as of September 2009

Interim Report as of June 2009

Interim Report as of March 2009

 

2008

Interim Report as of September 2008

Interim Report as of June 2008

Interim Report as of March 2008

 

2007

Portfolio Review as of December 2007

Quarterly Report as of September 2007

Quarterly Report as of June 2007

Quarterly Report as of March 2007

 

2006

Quarterly Report as of December 2006

Quarterly Report as of September 2006

Quarterly Report as of June 2006

Quarterly Report as of March 2006

 

2005

Quarterly Report as of December 2005

Quarterly Report as of September 2005

Quarterly Report as of June 2005

Quarterly Report as of March 2005

 

2004

Quarterly Report as of December 2004

Quarterly Report as of September 2004

Quarterly Report as of June 2004

Quarterly Report as of March 2004

 

2003

Quarterly Report as of December 2003

Quarterly Report as of September 2003

Quarterly Report as of June 2003

Quarterly Report as of March 2003

 

2002

Quarterly Report as of December 2002

Quarterly Report as of September 2002

Quarterly Report as of June 2002

Quarterly Report as of March 2002

 

2001

Quarterly Report as of December 2001

Quarterly Report as of September 2001

Quarterly Report as of June 2001

Quarterly Report as of March 2001

 

2000

Quarterly Report as of December 2000

Quarterly Report as of September 2000

Quarterly Report as of June 2000

Quarterly Report as of March 2000

 

 

ARTICLES OF ASSOCIATION

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