- The first six months of the year was the time when two major exit deals were finalised: Dotpay/eCard and ABC Data, worth nearly PLN 400 million in total.
- The net profit was PLN 4.7 million, 7% more than in 1H2018.
- In the first six months of the year, the Company recorded asset management revenues in the amount of PLN 24.7 million – PLN 2.3 million less than in the same period last year.
In 1H2019, the Funds managed by the PEM Group member finalised two major exit deals. Due to the Ditpay/eCard disinvestment, the MCI.EV Fund received PLN 255 million. Meanwhile, the ABC disinvestment gave the Fund over PLN 140 million net, after deduction of transaction costs.
– We continue to work intensively on exit processes. This is a good market time to prepare to sell those companies, which are appropriately prepared and have increased their value. This was the case of Dotpay/eCard – says Tomasz Czechowicz, President of PEM Management Board and Managing Partner.
The PEM team is now working on next sale of assets. The disinvestment process in ATM company is well advanced. In addition, PEM is looking at least one disinvestment process from the MCI.TechVentures sub-fund.
– We see a lot of interest in ATM. We are also looking at options regarding the exit of one of MCI.TechVentures companies – Tomasz Czechowicz has informed. The guideline for all our actions is to strive for as high yield for our investors as possible – Tomasz Czechowicz summed up.
The biggest fund managed by a PEM member, MCI.EuroVentures, has had an attractive rate of return also in the last quarters: in H12019 it was +6.13%. The rates of return recorded by other Funds, MCI.TechVentures and MCI.CreditVentures in H12019 were -7.17% and +2.44%, respectively.