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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)108.88m
- Net income in GBP58.22m
- 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
- Key Information
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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) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Triple Point Energy Transition PLC | -4.76m | -7.27m | 45.51m | 0.00 | -- | 0.525 | -- | -- | -0.0727 | -0.0727 | -0.0476 | 0.8667 | -0.0508 | -- | -- | -- | -7.77 | -- | -7.81 | -- | -- | -- | -- | -- | -- | -- | 0.00 | -- | -142.09 | -- | -182.51 | -- | -- | -- |
| Time Finance PLC | 33.18m | 4.44m | 55.51m | 142.00 | 12.49 | 0.8393 | 11.38 | 1.67 | 0.048 | 0.048 | 0.3587 | 0.7149 | 0.1687 | -- | 0.3314 | 233,662.00 | 2.26 | 1.56 | 3.61 | 2.48 | 57.81 | 58.79 | 13.39 | 9.15 | -- | 121.10 | 0.0275 | 0.00 | 23.03 | 0.8444 | 32.30 | -6.90 | -20.31 | -- |
| Litigation Capital Management Ltd | 26.38m | 6.58m | 132.25m | -- | 19.80 | 1.38 | 19.88 | 5.01 | 0.0585 | 0.0585 | 0.235 | 0.8394 | 0.0894 | -- | 8.05 | -- | 2.23 | 5.57 | 2.46 | 5.94 | 91.71 | -- | 24.94 | 34.88 | -- | 2.64 | 0.2468 | 5.36 | -29.95 | 8.00 | -59.62 | 12.31 | -24.02 | -- |
| JPMorgan Global Core Real Assets Ltd | -9.21m | -11.88m | 155.19m | 0.00 | -- | 0.8079 | -- | -- | -0.0543 | -0.0543 | -0.0426 | 0.9333 | -0.0437 | -- | -- | -- | -5.64 | -- | -5.65 | -- | -- | -- | -- | -- | -- | -- | 0.00 | -- | -133.06 | -- | -149.85 | -- | -- | -- |
| Amedeo Air Four Plus Ltd | 182.65m | 26.15m | 157.42m | 0.00 | 6.02 | 0.4646 | 1.06 | 0.8619 | 0.086 | 0.086 | 0.601 | 1.11 | 0.1382 | -- | 42.23 | -- | 1.98 | -1.19 | 2.27 | -1.30 | -- | -- | 14.32 | -9.23 | -- | 1.89 | 0.7076 | -- | -12.23 | -6.43 | -55.54 | 25.45 | -- | -15.76 |
| Doric Nimrod Air Two Ltd | 108.88m | 58.22m | 175.84m | 0.00 | 3.88 | 1.04 | 1.71 | 1.61 | 0.3673 | 0.3673 | 0.6859 | 1.37 | 0.4233 | -- | 37.91 | -- | 22.63 | 2.18 | 28.93 | 2.65 | -- | -- | 53.47 | 7.88 | -- | -- | 0.0131 | 307.77 | -18.00 | -3.33 | -8.24 | 16.87 | -- | -22.16 |
| Aquis Exchange PLC | 23.89m | 4.97m | 195.11m | 75.00 | 38.00 | 6.66 | 30.18 | 8.17 | 0.1855 | 0.1855 | 0.8812 | 1.06 | 0.7132 | -- | 4.72 | 318,492.50 | 14.83 | 12.60 | 16.99 | 14.44 | -- | -- | 20.80 | 18.77 | -- | -- | 0.0867 | 0.00 | 18.97 | 42.88 | 11.08 | -- | 12.08 | -- |
| Riverstone Energy Ltd | 11.54m | -1.80m | 197.43m | 0.00 | 45.99 | 0.6118 | -- | 17.10 | 0.1687 | 0.1687 | 0.2475 | 12.68 | 0.0206 | -- | 10.11 | -- | -0.3209 | -15.10 | -0.3212 | -15.13 | 18.73 | -- | -15.61 | -- | -- | -- | 0.00 | -- | -86.81 | -- | -102.55 | -- | -- | -- |
| Santander UK Plc | 12.55bn | 1.33bn | 482.48m | 19.50k | 31.71 | 2.97 | 0.2956 | 0.0912 | 0.0427 | 0.0427 | 0.1703 | 0.4555 | -- | -- | -- | -- | 0.4904 | 0.3809 | -- | -- | -- | -- | 25.09 | 21.70 | -- | -- | -- | 80.89 | 73.18 | 13.88 | 10.55 | 6.51 | -11.17 | 0.0046 |
| Learning Technologies Group PLC | 528.05m | 47.20m | 714.37m | 5.11k | 15.65 | 1.61 | 7.66 | 1.35 | 0.0576 | 0.0552 | 0.6444 | 0.561 | 0.7003 | -- | 3.77 | 103,276.20 | 6.26 | 3.60 | 8.14 | 4.78 | -- | -- | 8.94 | 6.35 | 1.50 | 6.52 | 0.2461 | 41.60 | -4.47 | 43.04 | 7.12 | 50.86 | 28.09 | 27.12 |
| Holder | Shares | % Held |
|---|---|---|
| West Yorkshire Pension Fundas of 31 Mar 2024 | 11.01m | 8.93% |
| Schroder & Co. Ltd.as of 31 Dec 2023 | 7.95m | 6.44% |
| Almitas Capital LLCas of 21 Aug 2024 | 5.19m | 4.21% |
| Premier Fund Managers Ltd.as of 31 Jul 2024 | 4.67m | 3.78% |
| Momentum Global Investment Management Ltd.as of 22 Aug 2024 | 4.54m | 3.68% |
| Newton Investment Management Ltd.as of 30 Sep 2024 | 2.98m | 2.42% |
| CG Asset Management Ltd.as of 31 Oct 2024 | 2.65m | 2.15% |
| Bridge Fund Management Ltd.as of 31 Jul 2024 | 2.33m | 1.89% |
| Valu-Trac Investment Management Ltd.as of 31 Oct 2024 | 2.03m | 1.65% |
| Fiera Capital (UK) Ltd.as of 31 Jul 2024 | 914.07k | 0.74% |
