ALTUR INVESTISSEMENT (formerly TURENNE INVESTISSEMENT): NAV AS OF DECEMBER 31, 2022 – 01/31/2023 at 6:00 p.m.

• An NAV of €11.42 per share, stable (+0.44%) over the year;
  

• A positive net income outlook in 2022;
  

• Gross cash amounting to 11.8 million euros.
  

Paris, January 31, 2023 –

ALTUR INVESTISSEMENT (Euronext – FR0010395681 – ALTUR) publishes its Net Asset Value (NAV)

[1]

as of December 31, 2022, which amounts to

€48.20 million, leading to a valuation of €11.42 per ordinary share (part of general partners and limited partners)

stable over the year (NAV of €11.37 per share as of December 31, 2022).

As of December 31, 2022, the assets of ALTUR INVESTISSEMENT consisted of:

• A portfolio of 22 holdings valued at 37.2 million euros
  
  ;

• Availability for 11.8 million euros
  

• ;
  

No financial debts.

it being specified that 2.1 million euros were used in January 2023 to buy back the securities tendered to the OPRA and 0.4 million for the account of the liquidity contract.

François Lombard, Chairman of SUFFREN HOLDING, himself Chairman of ALTUR GESTION, manager of ALTUR INVESTISSEMENT comments:

“The year 2022 was in line with expectations and made it possible to develop the strategy for the next five years.

The company does not intend to move towards liquidative management. Under the impetus of Bertrand Cavalié and Rémy Lombard, two areas of expertise will mainly be developed: investment in education and training and investment in proptech and climatech.

These investments should be made within the framework of dedicated funds and raised from third parties, the amounts allocated by Altur Investissement in these sectors should initially be 8 to 10 million euros.

Available cash as of December 31, 2022 was €11.8 million. It will be allocated to the payment of the buyback of shares tendered within the framework of the OPRA (up to 2,121,393.60 euros), in the education & training and proptech & climatech fund projects and, if necessary, in another fund and will be kept to strengthen, if necessary, current holdings in the context of a very uncertain context with the war in Ukraine. The governance bodies, Supervisory Board and General Meeting, will decide, when the time comes, on the distribution of a dividend. Given the context, new significant disposals of interests will have to materialize before taking such a decision. »

1 total disposal, 3 partial disposals and 6 investments made in 2022

In April 2022, Altur Investissement sold 100% of its stake in the capital of the controlling holding company of Log’s.

In the second half of 2022, two partial redemptions of convertible bonds issued by the companies Sermeta and Menix generated cash, and an operation to recompose the capital of a company in the Healthcare sector generated more -significant value.

Taking into account these disposals, the company’s net income for 2022, which will be published on April 30 at the latest, should be in an estimated range of between 3.6 and 3.9 million euros.

During 2022, Altur Investissement has invested in different types of companies.

First, by taking a stake in the capital of EMP Rotomoulding, a company that develops and produces made-to-measure and recyclable rotomoulded parts.

Next, Altur Investissement has supported projects whose management teams it knows and which demonstrate a good track-record, with the subscription to the SLP Extens, a fund dedicated to software and health data and to the co-investment vehicle Adagia Capital Europe, majority shareholder of Minlay, a group of dental prosthesis laboratories in Europe.

Altur Investissement has, as mentioned previously, invested in the Proptech & Climatech sector by supporting the companies Flexliving and Sezame. The activities of these companies are respectively, operator of flexible accommodation, part-time, in subscription format for regular business trips and a platform allowing access to property through real estate leasing.

In July 2022, Altur Investissement decided to support SerVme in its development. This company has developed customer relationship management software for cafes, hotel restaurants and restaurants.

Strategy and outlook for 2023

ALTUR INVESTISSEMENT aims to support – as a reference investor or co-investor – fast-growing family and heritage SMEs and ETIs, mainly unlisted, on capital-development and transmission (OBO) type transactions.

ISIN code: FR0010395681 – Mnemonic code: ALTUR – Euronext: Compartment C

Next meeting :

2022 annual results and NAV as of March 31, 2023: April 30, 2023 at the latest

Composition of the portfolio

To date, the financial assets of ALTUR INVESTISSEMENT are distributed among 17 companies, 3 FPCIs and 2 portfolios invested in strategic sectors:

• Health
  
  :

• Acropolis
  
  designer and manufacturer of orthopedic implants for the shoulder, hip and knee;

• Menix,
  
  French leader in orthopedic prostheses and dental implants;

• BIOBank,
  
  French leader in the allograft sector;

• Cousin Surgery,
  
  designer and manufacturer of implantable medical devices in technical textiles;

• Naogen Pharma
  
  innovative radiopharmaceuticals for non-invasive molecular imaging;

• Adagia Capital Europe,
  
  co-investment vehicle in the capital of Minlay;

• FPCI Capital Santé I
  
  FPCI managed by Turenne Capital and investing in the health sector;

• FPCI Capital Santé II

FPCI managed by Turenne Capital and investing in the health sector;

SLP Extens III, managed by Extens and investing in e-health.

• Generational Services
  
  :

Undertakers of France

network of franchised funeral agencies and own agencies.

• High added value industry
  
  :

• Sermeta,
  
  world leader in stainless steel heat exchangers for gas condensing boilers;

• Countum
  
  the French leader in industrial and transactional metering of petroleum products;

EMP Rotational molding

develops and produces custom rotomoulded parts that are 100% recyclable.

• Specialized distribution
  
  :

start

specialist in the import and wholesale of seafood products;

• Hotel
  
  :

• Mercure Nice Notre Dame
  
  establishment with 198 rooms;

• Mercure Lyon Center Chateau Perrache
  
  establishment with 120 rooms;

FPCI Turenne Hôtellerie II

FPCI managed by Turenne Capital and investing in the hotel sector.

Proptech:

•

Flexliving

: operator of flexible accommodation, part-time, in subscription format for regular business trips;

•

sezame

• : a platform allowing access to property through real estate leasing
  
  Various :

• Camel,
  
  specialist in sending greeting cards on the Internet;

• trophy
  
  portfolio holding equity securities of three French SMEs;

Service,

Such. : 01 53 67 36 78

[email protected]

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United States Securities Laws

[1]

).

Full and original press release in PDF format:

https://www.actusnews.com/news/78333-23-01-31_altur_investment_cp_anr.pdf