Overview of Eildon Capital Group's Half Year 2024 Results

Eildon Capital Group (ASX: $EDC) has released its half year 2024 performance indicators and highlights. The group reported a net profit after tax of $1.6 million and distributed 3.5 cents per stapled security from Eildon Capital Trust, representing 81% of Group NAV. The net tangible assets (NTA) and net asset value (NAV) stood at $1.04 and $1.11 per stapled security respectively, unchanged versus 30 June 2023. The group's net assets amounted to $53 million with zero corporate debt. Additionally, the group's current cash balance is $8 million. The group's assets under management were $334 million as at 31 December 2023, increasing to $400 million post balance date. The investment portfolio running yield increased to 14% from 12% in FY23. Eildon Capital Group also implemented an on-market buy-back, bought back and cancelled 1.59 million stapled securities, and continued to issue real estate credit investment opportunities within the Eildon Debt Fund with good investor demand.

Executive Commentary on Half Year 2024 Results

The global real estate markets continue to remain volatile due to interest rates, inflation, and credit availability, which will continue to impact real estate valuations and transaction volumes. The group will focus on short duration debt investments via the Eildon Debt Fund and look for attractive investment opportunities that may present given the market outlook. The group's business model, strong balance sheet, and cash reserves provide the ability to capitalize on growth initiatives and new strategies within the Australian Real Estate market across credit and equity, consistent with the recently announced Officer South Joint Venture.

Summary of Half Year 2024 Results and Outlook

Eildon Capital Group (ASX: $EDC) reported a net profit after tax of $1.6 million and distributed 3.5 cents per stapled security from Eildon Capital Trust, representing 81% of Group NAV. The group's net tangible assets (NTA) and net asset value (NAV) remained unchanged versus 30 June 2023 at $1.04 and $1.11 per stapled security respectively. With zero corporate debt and a current cash balance of $8 million, the group's strong balance sheet positions it well for future growth initiatives. The group's focus on short duration debt investments via the Eildon Debt Fund and attractive investment opportunities align with the market outlook. Eildon Capital Group's ambitions include capitalizing on new strategies within the Australian Real Estate market across credit and equity, consistent with the recently announced Officer South Joint Venture.