OXO Technologies Holding Plc. has published its stock market report for the first half of 2022 and, in parallel, its first ESG report. The report shows that the company has managed to turn its operations profitable and increase its net asset value by a further 22% in a period of continuous challenging macroeconomic and business environment, early in its investment cycle.
As a testament to a successful portfolio building and diversification strategy, OXO Technologies Holding Plc’s first half 2022 stock market report shows stable management and profitable operations early in its investment period. The first half-year profit of HUF 207 million points to positive financial trends even in proportion to the company’s market capitalisation of HUF 5.8 billion at the date of the report. The profitable operation is also due to the successful exits from the carefully diversified investment portfolio during this period, even as the company has simultaneously taken the necessary write-downs on some of its critical investments and receivables in view of the growing macroeconomic risks.
The range of new investments prepared and executed in the first half of the year mainly concerned profitable investment targets, notably the investment of around HUF 300 million in Gloster Infokommunikációs Nyrt, which already showed an increase in value at the end of the half-year, but this is not yet reflected in the results of OXO Technologies Holding. The investment activity in the coming period will continue to focus primarily on mature target companies capable of generating profits, as a result of which, in addition to future exits, the company is already expecting to account for regular dividends and management fees from some of its subsidiaries.
In the first half of the year under review, OXO Technologies Holding also successfully raised further capital, a significant part of which was received from investors in other European markets in euros, further increasing its net asset value by around 22% from HUF 4.4 billion to HUF 5.4 billion. In view of the current moderate liquidity in the stock markets and the current shift in investor focus, and also given that the successful management of the coming period may depend to a large extent on the availability of funds that have been and can still be raised, the company has started to convert its equity into euro in order to further expand its investor base, which may also lead to the conversion of its share listings and trading into euro in the future.
In addition to its half-yearly stock market report, OXO Technologies Holding has published its first ESG report, detailing its commitment to implementing ESG criteria in its operations and investments. The application of ESG assessments is not only demonstrated in its current investment portfolio, but the company intends to further develop its future investment instruments in a structure specifically designed to achieve such investment objectives.
Further information: Jánoska Rita, Head of Communications | rita.janoska@oxoholdings.eu | +3630 5784854