Q1 2024 Financial Performance Summary

Helios Fairfax Partners Corporation (TSX: HFPC.U) has reported its financial results for the first quarter of 2024, showcasing both positive and negative trends in its investments. The company saw a $8.5 million increase in the fair value of its positions in Helios Managed Investments, reaching $213.2 million. This growth represents a 4.3% increase from the previous quarter and a significant 27% increase since the company’s initial investments.

However, despite the positive performance of Helios Managed Investments, Helios Fairfax Partners Corporation reported a net loss of $4.7 million in the first quarter of 2024, compared to net earnings of $7.0 million in the same period in 2023. The net loss was primarily driven by unrealized losses on the company’s investment in TopCo LP, which was impacted by lower cash flow expectations and a decrease in carried interest.

The company’s book value per share for the quarter was $4.35, slightly lower than the $4.39 reported in the previous quarter. The decrease in book value per share was attributed to the unrealized losses from the investment in TopCo LP, which offset the gains from Helios Managed Investments.

Looking ahead, Helios Fairfax Partners Corporation aims to complete the orderly exit of its Legacy Non-Core investments and continue deploying capital in investments that align with long-term secular themes in African economies. With over $89 million in cash available at the end of the quarter, the company remains well-positioned to make strategic investments in Africa.

For more details on Helios Fairfax Partners Corporation’s financial results and investment strategies, interested parties can access the company’s detailed first quarter report on its website.