Breaking Down Altamir SCA Financial Health: Key Insights for Investors

Discover how Altamir SCA (LTA.PA) pursues long-term shareholder value by growing Net Asset Value per share and aiming to outperform benchmarks like LPX Europe and CAC Mid&Small, while deploying buy‑out and growth capital across targeted sectors such as Tech & Telco, Consumer, Healthcare and Services; the firm concentrates on small and mid-cap opportunities in Continental Europe and selective larger positions in Europe, North America and emerging markets, seeks a 2 to 3X return on investments over a five‑year horizon and sustains an attractive dividend policy of 2 to 3% of year‑end NAV to balance growth with cash returns, making Altamir's mission, vision and core values a compelling roadmap for investors.

Altamir SCA (LTA.PA) - Intro

• Dividend policy: distributes 2-3% of year-end NAV annually.
• Investment horizon: typical hold period ~5 years, with a targeted gross multiple of 2-3X on realizations over that period (implies a target CAGR ≈ 14.9%-24.6%).
• Target sectors: Tech & Telco, Consumer, Healthcare, Services.
• Geographic focus: small/mid-caps in Continental Europe; selective larger-cap investments in Europe, North America and emerging markets.

• Concentration: focused portfolio with active board/investor roles to accelerate growth and value creation.
• Stage & ticket size: majority of deals in small- and mid-cap companies (control or significant minority stakes); selective larger tickets in developed and emerging markets.
• Value creation levers: commercial scaling, international expansion, digital transformation, operational improvement, add-on consolidation.

• Return ambition: 2-3X gross multiple on invested capital over ~5 years (CAGR ≈ 15-25%).
• ESG & responsible investing: integration of environmental, social, and governance factors into due diligence, portfolio monitoring, and exit preparation.
• Capital discipline: follow-on reserve policies and portfolio-level concentration limits to manage downside risk.

• Active governance: board seats, strategic oversight, KPI-driven reporting and quarterly NAV reviews.
• Exit discipline: multiple exit routes (trade sale, secondary buyout, IPO) with realized proceeds measured versus target multiples and IRR objectives.
• Transparency to shareholders: regular NAV updates, reporting on realised/unrealised performance, and alignment of carried interest and management incentives with long-term NAV growth.

Altamir SCA (LTA.PA) - Overview

Mission: create long-term shareholder value by growing Net Asset Value (NAV) per share, delivering sustainable cash returns and outperforming relevant benchmarks while maintaining a clear, disciplined investment approach across geographies, sizes and growth stages.

• Primary financial objective: increase NAV per share over the long term (multi-year horizon).
• Benchmark outperformance goal: exceed LPX Europe and CAC Mid&Small total return indices (targeting ~3 percentage points p.a. excess return over a market cycle).
• Dividend policy: simple and predictable distribution of 2-3% of year-end NAV annually to shareholders.

Investment scope and strategy:

• Focus sectors: Technology & Telecommunications, Consumer, Healthcare, and Services - chosen for secular growth, margin expansion potential and resilience.
• Deal types: buy-out and growth capital investments in small and mid-cap companies across Continental Europe; selective larger investments (majority or lead positions) in Europe, North America and emerging markets.
• Capital allocation philosophy: build a diversified portfolio by size and geography to balance high-growth opportunities and downside protection.

Portfolio composition targets (strategic allocation):

• Sector allocation (target): Tech & Telco 30-40%, Consumer 20-25%, Healthcare 15-20%, Services 15-25%.
• Geographic focus: Continental Europe core (60-75%), selective exposure to North America and emerging markets (25-40%) for scale and diversification.
• Deal stage split: Growth capital 40-60%, buy-outs 40-60% depending on market opportunities.

Performance monitoring and capital deployment metrics:

• Key value creation KPIs tracked per investment: revenue CAGR (target 15-30% for growth-stage assets), EBITDA margin expansion, organic vs. inorganic growth contribution and exit valuation multiples.
• Cash return targets: aim for realized proceeds and distributions to fund the 2-3% NAV dividend and support new investments; target cumulative cash-on-cash multiples of 2.0x+ on realized exits over holding periods.
• Leverage and balance sheet management: conservative corporate leverage; use of committed credit lines to smooth distributions and opportunistic deployments.

Governance, values and risk management:

• Governance: listed on Euronext Paris with transparent reporting, independent oversight and alignment of management/shareholders through carried interest and co-investment.
• Core values: long-term orientation, capital preservation, active ownership, operational value creation and disciplined risk-adjusted return seeking.
• Risk controls: portfolio diversification by sector/geography/size, rigorous due diligence, staged investments and exit discipline.

Investor guidance and transparency:

• Regular NAV disclosure cadence and quarterly updates on portfolio developments and realizations.
• Dividend policy communicated annually with reference to year-end NAV and liquidity position.
• Link to detailed financial analysis and investor resources: Breaking Down Altamir SCA Financial Health: Key Insights for Investors

Altamir SCA (LTA.PA) - Mission Statement

• Target long-term return profile: 2-3X gross equity returns over a five-year holding period.
• Investment scope: buy-out and growth capital for high-growth and resilient businesses.
• Geographic reach: primarily Europe with selective exposure to global opportunities.
• Capital discipline: focus on value creation levers-EBITDA growth, margin expansion, and multiple arbitrage.
• Sustainability: integrate ESG considerations to reduce risk and enhance long-term value.

• Return ambition: deliver 2-3X return on invested capital within approximately five years for core investments.
• Dividend objective: maintain an attractive and sustainable dividend flow supported by realized gains and recurring income.
• Benchmarking: aim to outperform listed and private market peers and relevant indices over rolling multi-year periods.
• Portfolio construction: diversify across sectors and maturities to balance growth and resilience.

• Sector emphasis: targeted exposure to tech-enabled services, healthcare, B2B manufacturing, and consumer niches-sectors with scalable growth and margin improvement potential.
• Investment types: blend of minority growth capital (to capture high growth) and buy-outs (to drive operational improvements).
• Active governance: board representation, KPI-driven performance management, and hands-on operational support to executives.
• Exit strategy: staged value creation with multiple exit routes (trade sale, secondary buy-out, IPO, or structured dividend recapitalizations).

• Outperformance goal: exceed performance of Euronext Small Caps and relevant private equity benchmarks over 3-7 year horizons.
• Risk management: portfolio diversification, active monitoring, and disciplined deal selection to limit downside volatility versus public market indices.
• Shareholder returns: combine realized capital gains with a sustainable dividend policy to enhance total shareholder return (TSR).

Altamir SCA (LTA.PA): Vision Statement

• Time horizon: Core investment holding period of five years, calibrated to drive operational value creation and exits that realize targeted multiples.
• Return objective: Target 2-3X multiple on invested capital over five years (implied CAGR: see table below).
• Dividend policy: Sustainable distribution of 2-3% of year-end NAV to shareholders, balancing cash returns with reinvestment for growth.

• Sector focus:
  • Tech & Telco - software, digital services, connectivity
  • Consumer - brands with scalable models and strong unit economics
  • Healthcare - high-growth biotech, medtech, services
  • Services - B2B platforms, niche industrial & professional services
• Company size targeting:
  • Continental Europe: small and mid-cap companies where active ownership can drive rapid value creation
  • Broader Europe / North America / Emerging Markets: larger opportunities where strategic capital accelerates growth
• Value-creation levers:
  • Operational improvements, digital transformation, and margin expansion
  • Organic scaling supported by targeted add-on acquisitions
  • Governance upgrades and professionalization of management teams