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ONEX Corporation
5/13/2022
Welcome to ONNX's first quarter 2022 conference call and webcast. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question and answer session with pre-qualified analysts. At that time, if you have a question, please press star 1 on your telephone keypad. If at any time during the conference you need to reach the operator, please press star, then zero. As a reminder, this conference is being recorded. I will now turn the conference over to Jill Hominick, Managing Director, Shareholder Relations and Communications at Onyx. Please go ahead.
Thank you. Good morning, everyone, and thanks for joining us. We're broadcasting this call on our website. Hosting the call today are Jerry Schwartz, our founder and CEO, Bobby LeBlanc, Onyx's President and Head of Onyx Partners, and Chris Govan, our Chief Financial Officer. Earlier this morning, we issued our first quarter 2022 press release, MD&A, and consolidated financial statements, which are available on the shareholder section of our website and have also been filed on CDAR. Our supplemental information package is also available on our website. As a reminder, all references to dollar amounts on this call are in U.S. unless otherwise stated. I must also point everyone to our webcast presentation for our usual disclaimer and cautionary factors relating to any forward-looking statements contained in today's presentation and remarks. With that, I'll turn the call over to Jerry.
Thanks, Jill. Good morning, everybody, and thanks for being with us today. I'm pleased to report, I'm very happy to report, that Onyx had a solid start to the year with continued progress in our plan to grow the business and increase shareholder value. Our investing capital per share, or as we used to call it, NAV per share, grew for the eighth straight quarter, ending at US $92.94, up 3% in the quarter and 19% over the last 12 months. Bobby and Chris are going to provide more detail about those results. Recently, we held our limited partner annual meetings in Toronto. They were really robust, well-attended, and informative. And that was the first time in three years since our last in-person event. It was really nice to see so many of our long-standing LPs as welcoming new ones. It was also a time to reflect on how much has happened since the pandemic and how much challenge and uncertainty we've all managed through. And I might add, continue to endure to some extent lesser, but to some extent. Through it all, the Onyx team has remained resolute in our commitment to driving value for our clients and of course for our shareholders. I'm very proud of our team and their accomplishments during this difficult period. Our team's success, I think, is directly linked to our values and consistent principles. One of Onyx's earliest principles has been to be a responsible investor, and I can remember that being right on the top of our agenda as early as 1984. More recently, we've expanded on that foundation as we continue to evolve our ESG program. That was really evident in our LP meetings, where our investors heard how we're creating more discipline how we track and report our ESG efforts. As well, we're using ESG more effectively. For example, with NRP platforms, we see it as an opportunity to identify and to execute on value creation for our operating companies, and we've seen it in several instances already. Another area where ONIX has been making real progress is diversity and inclusion. It's important that we continue to build on our commitment to increase diversity and to prioritize inclusion. Our objective is to create a program that's inclusive of all ONIX locations and all forms and aspects of diversity. We have a D&I Leadership Council, and it's co-chaired by Bobby and Jill, and it's setting an active agenda, which includes advancing our engagement with external stakeholders. Shareholders, of course, are an important part of that engagement, and we look forward to updating you and keep you abreast of our progress. Let me stop there, and I'll turn it over to Bobby for more on the quarter. Bobby? Bobby?
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