Altamir - Registration Document 2016

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FINANCIAL AND LEGAL INFORMATION 1 Selected financial information
PORTFOLIO PERFORMANCE
19% average Ebitda growth in 2016
Year-over-year Ebitda growth, in %
(Sources: company reports or analysts’ consensus as of 3 March 2017)
2011
vs 2010
2012
vs 2011
2013
vs 2012
2014
vs 2013
2015
vs 2014
2016
vs 2015
9%
15%
-1%
7%
-5%
12%
-1%
9%
4%
7%
19%
2%
CAC 40 companies excluding financials (sample of 34 companies)
Apax Partners France portfolio; sample of 17 companies accounting for 91% of Altamir total portfolio value as of 31/12/2016
(7.2% average Ebitda growth in 2016 for the companies held via Apax VIII LP)
VALUATION MULTIPLES
Average multiples at 31/12 weighted by each company’s
contribution to NAV
* 17 companies accounting for 91% of portfolio value. 11.9x in 2016
for companies held via the Apax VIII LP fund, vs 11.9x in 2015.
2007
2008
2009
2010
2011
2012
2013
2014
2016
2015
17
14
12.34x
8.47x
9.31x
8.83x
9.00x
8.30x
8.86x
9.46x
10.46x
10.66x
16
21
20
19
16
15
15
14
2008
2009
2010
2011
2012
2013
2014
2016
2015 14
17
3.2
3.0
2.5
2.4
2.7
2.8
2.9
3.1
4.6x
4.1x
4.0x
3.8x
3.7x
3.8x
3.7x
3.9x
4.1x
1.4
3.1 1.0
1.0
1.3
1.3
1.1
0.9
1.0
1.0
21
21
18
16
16
15
14
Enterprise value / LTM Ebitda # of companies* LBO debt Operating debt # of companies*
(Total net debt / LTM Ebitda) (Enterprise value / LTM Ebitda)
DEBT MULTIPLES
Average multiples at 31/12
* 17 companies accounting for 91% of portfolio value. 4.8x in 2016
for companies held via the Apax VIII LP fund, vs 5.3x in 2015.
10 REGISTRATION DOCUMENT 1 ALTAMIR 2016