Helios Fairfax Partners Reports Third Quarter Financial Results - Seite 2

HFP reported a net loss of $1.8 million in the third quarter of 2023, as compared to a net loss of $29.0 million in the comparable period of 2022. In the third quarter of 2022, the main driver of the net loss of $29.0 million was the sharp rise in interest rates in the first nine months of the year, which negatively impacted the fair values of HFP’s investments. In 2023, the pace of interest rate increases has slowed and the negative impact on the fair values of HFP’s investments has lessened. Results from operations include $3.4 million in interest income, offset by $4.5 million in expenses and $0.3 million of net losses on its investment portfolio. The net losses are principally attributable to unrealized losses on the company’s Investment in Alternative Asset Management.

HFP reported a book value per share of $5.11 as of September 30, 2023, as compared to $5.13 in the prior quarter. The change in the fair values of the company’s Investment in Alternative Asset Management and Helios Managed Investments contributed $0.05 to the book value per share for the quarter. The sale of a portion of its indirect equity interest in AGH, one of its Insured and Guaranteed Legacy Non-Core Investments, reduced the book value per share by $0.12 for the quarter, supporting the company’s strategy on exits.

Included in book value per share is $116.2 million of cash and cash equivalents as at September 30, 2023, which is available to fund future investments. At September 30, 2023, HFP had 108,264,033 common shares outstanding, as compared to 108,193,971 common shares outstanding at December 31, 2022.

HFP's detailed third quarter report can be accessed at its website www.heliosfairfax.com.

About Helios Fairfax Partners Corporation

Helios Fairfax Partners Corporation is an investment holding company whose investment objective is to achieve long term capital appreciation, while preserving capital, by investing in public and private equity securities and debt instruments in Africa and African businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, Africa.

Contact Information

Neil Weber
LodeRock Advisors
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This press release may contain forward-looking statements within the meaning of applicable securities legislation. Forward-looking statements may relate to the company's or a Portfolio Investment's future outlook and anticipated events or results and may include statements regarding the financial position, business strategy, growth strategy, budgets, operations, financial results, taxes, dividends, plans and objectives of the company. Particularly, statements regarding future results, performance, achievements, prospects or opportunities of the company, a Portfolio Investment, or the African market are forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved".