Touch Ventures Limited (ASX:TVL) Announces 2024 Financial Results and Strategic Investments
Financial Performance
Touch Ventures Limited reported a net loss of $24.9 million for the year ended 31 December 2024, a decrease of 61% compared to the previous year. Net tangible assets per share fell from $0.15 to $0.12. The loss was primarily due to impaired investments in Sendle and Postpay, amid high interest rates and challenging capital market conditions. The company’s net assets declined to $84.1 million from $108.9 million, with a gross portfolio value decrease of $10.2 million. Cash and bank deposits reduced to $44.1 million, while the company remains debt-free.
Strategic Investments
In December 2024, Touch Ventures made significant investments in two high-growth companies. A $4.5 million investment was made in Tixel, a Melbourne-based live entertainment ticket resale platform recognised as one of Australia’s Top 100 Innovators 2024. Additionally, the company invested US$6.6 million (A$10.6 million) in Reshop, a US retail technology firm focused on enhancing return processes for shoppers and retailers. These investments demonstrate Touch Ventures’ commitment to expanding its portfolio with promising opportunities.
Operational Achievements
The company welcomed Gannet Capital as its largest investor, acquiring a 19.09% stake, and appointed Glenn Poswell to the Board. Gannet Capital’s expertise in investment management is expected to enhance business outcomes and provide access to high-quality deal flow. Touch Ventures also undertook cost reduction initiatives, including leadership team restructuring, to improve overall performance and focus on value creation from its legacy portfolio.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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