DJ Hardman & Co Research: Pantheon International Plc (PIN): Just look at PIP's underlying company resilience
Hardman & Co Research
Hardman & Co Research: Pantheon International Plc (PIN): Just look at PIP's underlying company resilience
10-March-2021 / 14:00 GMT/BST
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Hardman & Co Research: Just look at PIP's underlying company resilience
The key interim results message is the spectacular operational outperformance that PIP has achieved through the
COVID-19 crisis so far. PIP's sample of buyout companies (two thirds of that portfolio) reported weighted average
revenue and EBITDA growth of 17% and 15%. The MSCI World Index reported falls of 17% and 31%, respectively, for the
same period. PIP's investee companies normally outperform (EBITDA growth 2013-19 average 11% higher than the index),
but, through COVID-19 to November, it was 4x this level. EV/EBITDA ratings on PIP's book are, despite this sharp
outperformance, at a 1% discount to this index.
Please click on the link below for the full report
https://www.hardmanandco.com/research/corporate-research/just-look-at-pips-underlying-company-resilience/
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1174593 10-March-2021
(END) Dow Jones Newswires
March 10, 2021 09:00 ET (14:00 GMT)
