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About the company
Doric Nimrod Air Two Limited is a Guernsey-based company, which specializes in fund segment. The Company's investment objective is to obtain income returns and a capital return for its shareholders by acquiring, leasing, and then selling aircraft. The Company aims to provide its shareholders with a total return comprising income, from distributions through the period of the Company's ownership of the assets and capital upon the sale of the assets. It targets a distribution of about 4.5 pence per share per quarter. The Company has a portfolio of seven Airbus A380-861 aircraft, all of which are on long-term leases with Emirates Airline, the national carrier owned by the Investment Corporation of Dubai, based in Dubai, United Arab Emirates. The Company has four wholly owned subsidiaries, such as MSN077 Limited, MSN090 Limited, MSN105 Limited, and Doric Nimrod Air Finance Alpha Limited, which collectively hold the assets for the Company. The Company's asset manager is Doric GmbH.
- Revenue in GBP (TTM)125.02m
- Net income in GBP66.88m
- Incorporated2011
- Employees0.00
- LocationDoric Nimrod Air Two LtdDorey Court, Admiral ParkPO Box 156SAINT PETER PORT GY1 4EUGuernseyGGY
- Phone+44 1 481702400
- Websitehttp://www.dnairtwo.com/home.html
Profile
| Management group(s) | Doric GmbH |
|---|---|
| AIC sector | Leasing |
| ISIN | GG00BMWCCD46 |
| Launch date | 14 Jul 2011 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | GBP |
Objective
The Company's investment objective is to obtain income returns and a capital return for its Shareholders by acquiring, leasing and then selling aircraft. The Company receives income from the Lease rentals paid to it by Emirates, the national carrier owned by the Investment Corporation of Dubai, based in Dubai, United Arab Emirates, pursuant to the Leases.
Managed by
| Not Disclosed |
|---|
Management & contract fees
Doric receives a management and advisory fee of GBP250,000 p.a. (adjusted annually for inflation from 2013 onwards, at 2.25% p.a.), payable quarterly in arrears. Doric will also receive a fee for its sales and remarketing services upon disposition of the Asset and subsequent winding up of the Company.
Peer analysis
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| Company | Revenue (TTM) | Net income (TTM) | Market cap | Employees | Price/earnings (TTM) | Price/book value (MRQ) | Price/cash flow (TTM) | Price/sales (TTM) | EPS (excl. extraordinary items, TTM) | EPS (incl. extraordinary items, TTM) | Revenue per share (TTM) | Book value per share (MRQ) | Asset turnover (TTM) | Inventory turnover (TTM) | Receivables turnover (TTM) | Revenues per employee (TTM) | Return on avg assets (TTM) | Return on avg assets (5 yr avg) | Return on investment (TTM) | Return on investment (5 yr avg) | Gross margin (TTM) | Gross margin (5 yr avg) | Net profit margin (TTM) | Net Profit margin (5 yr avg) | Quick ratio (MRQ) | Interest coverage (TTM) | Total debt to capital (MRQ) | Payout ratio (5 yr avg) | Revenue (YOY change %) | Revenue (5 yr growth rate) | Net income (YOY change %) | Net income (5 yr growth rate) | Capital expenditure (5 yr growth rate) | Dividend (5 yr growth rate) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HSS Hire Group PLC | 342.93m | 19.89m | 58.87m | 2.04k | 3.05 | 0.3137 | 0.9989 | 0.1717 | 0.0274 | 0.0274 | 0.4725 | 0.2662 | 0.8137 | 47.51 | 4.71 | 168,352.00 | 4.72 | -0.3933 | 6.25 | -0.5275 | 50.64 | 52.70 | 5.80 | -0.5415 | 1.17 | 3.04 | 0.4382 | -- | 9.73 | 1.82 | 180.31 | -- | 7.80 | -- |
| Doric Nimrod Air Three Ltd | 76.49m | 41.58m | 112.20m | 0.00 | 2.70 | 1.30 | 1.61 | 1.47 | 0.189 | 0.189 | 0.3477 | 0.3917 | 0.3593 | -- | 1,912,344.00 | -- | 19.53 | -1.42 | 26.75 | -1.66 | 99.10 | 99.13 | 54.35 | -6.85 | -- | -- | 0.00 | -- | 6.24 | 0.9532 | 1,015.41 | -14.78 | -- | 0.00 |
| Amedeo Air Four Plus Ltd | 193.48m | 25.98m | 118.52m | 0.00 | 4.62 | 0.3318 | 0.7687 | 0.6126 | 0.0843 | 0.0843 | 0.5976 | 1.18 | 0.1295 | -- | 33.96 | -- | 1.74 | -1.25 | 1.93 | -1.34 | -- | -- | 13.43 | -10.23 | -- | 1.81 | 0.7174 | -- | 9.51 | -1.01 | 137.65 | -23.77 | -- | -17.87 |
| Speedy Hire Plc | 434.30m | -5.40m | 128.16m | 3.44k | -- | 0.7887 | 1.94 | 0.2951 | -0.0114 | -0.0114 | 0.9316 | 0.3518 | 0.8812 | 17.70 | 3.85 | 128,681.50 | -1.10 | 2.70 | -1.47 | 3.60 | 49.46 | 54.71 | -1.24 | 3.33 | 0.9625 | 0.303 | 0.4946 | 67.71 | 13.91 | 3.39 | -94.39 | -38.91 | 13.94 | 9.52 |
| Life Science REIT PLC | 19.94m | -21.71m | 139.30m | 0.00 | -- | 0.4909 | -- | 6.99 | -0.062 | -0.062 | 0.057 | 0.8107 | 0.0465 | -- | 9.01 | -- | -5.06 | -- | -5.47 | -- | 69.33 | -- | -108.85 | -- | -- | 0.3037 | 0.2755 | -- | 26.97 | -- | 21.39 | -- | -- | -- |
| Doric Nimrod Air Two Ltd | 125.02m | 66.88m | 146.22m | 0.00 | 0.8746 | 0.2728 | 1.24 | 1.17 | 1.35 | 1.35 | 2.53 | 4.34 | 0.4005 | -- | 26.84 | -- | 21.42 | 0.6436 | 28.75 | 0.7603 | -- | -- | 53.49 | 2.80 | -- | -- | 0.0246 | 850.32 | 4.15 | 0.6309 | 20,934.85 | -9.87 | -- | -22.16 |
| Vp plc | 375.95m | 23.82m | 246.95m | 2.83k | 10.26 | 1.39 | 2.72 | 0.6569 | 0.5993 | 0.5993 | 9.47 | 4.43 | 0.7931 | 31.62 | 4.41 | -- | 5.02 | 3.79 | 6.59 | 4.97 | 24.40 | 21.50 | 6.33 | 4.97 | 0.6872 | 4.78 | 0.5358 | 72.33 | 5.87 | 4.12 | -9.89 | -1.14 | -2.42 | 7.60 |
| Andrews Sykes Group plc | 83.95m | 18.08m | 250.11m | 551.00 | 13.93 | 3.85 | 8.86 | 2.98 | 0.4288 | 0.4288 | 1.99 | 1.55 | 0.8573 | 6.85 | 4.33 | 152,353.90 | 18.46 | 17.72 | 22.77 | 22.08 | 65.69 | 60.31 | 21.53 | 20.36 | 3.00 | -- | 0.1799 | 77.99 | 10.35 | 3.09 | 9.52 | 3.83 | -15.71 | 1.71 |
| Ashtead Technology Holdings PLC | 110.47m | 21.58m | 635.28m | 520.00 | 29.68 | 6.48 | 18.12 | 5.75 | 0.2665 | 0.2665 | 1.36 | 1.22 | 0.6322 | 8.15 | 4.67 | 212,434.60 | 12.35 | 6.89 | 14.77 | 8.12 | 78.12 | 75.36 | 19.53 | 12.29 | 1.21 | 8.40 | 0.4263 | -- | 51.07 | 23.98 | 74.39 | 52.35 | 17.18 | -- |
| Holder | Shares | % Held |
|---|---|---|
| West Yorkshire Pension Fundas of 31 Mar 2023 | 12.47m | 10.11% |
| Schroder & Co. Ltd.as of 30 Jun 2023 | 7.95m | 6.44% |
| Insight Investment Management (Global) Ltd.as of 31 Oct 2020 | 7.12m | 5.77% |
| Premier Fund Managers Ltd.as of 30 Nov 2023 | 4.67m | 3.78% |
| Momentum Global Investment Management Ltd.as of 30 Apr 2024 | 4.38m | 3.55% |
| Valu-Trac Investment Management Ltd.as of 30 Apr 2024 | 3.08m | 2.49% |
| Newton Investment Management Ltd.as of 31 Mar 2024 | 3.01m | 2.44% |
| Bridge Fund Management Ltd.as of 31 Dec 2023 | 1.61m | 1.31% |
| FIL Investments Internationalas of 30 Jun 2023 | 1.60m | 1.30% |
| Sarasin & Partners LLPas of 31 Aug 2020 | 919.64k | 0.75% |
