Eq Oyj · OMXHEX:EQV1V
Eq Oyj — Q3 2024 Earnings Presentation
24 slides from Eq Oyj's earnings presentation, Oct 22, 2024
Slide 1: eQ Plc – Result Q3 2024
eQ Plc – Result Q3 2024 Result presentation 22nd of October 2024 1
Slide 2: eQ Group – Key figures
eQ Group – Key figures MEUR 1-9/2024 1-9/2023 Change 7-9/2024 7-9/2023 Change 1-12/2023 Net revenue 50.9 52.3 -3 % 16.7 16.6 1% 70.9 Operating profit 27.6 30.0 -8 % 9.6 10.2 -6 % 39.7 Profit for the period 21.9 23.8 -8 % 7.6 8.1 -6 % 31.5 Earnings per share 0.53 0.59 -9 % 0.18 0.20 -8 % 0.78 (EUR) C
Slide 3: eQ Group – Rolling 12 months
10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 90,0 0,0 100,0 -10,0 Q4/13 22/10/2024 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Asset Management Q4/16 Group Administration Q1/17 Q2/17 Q3/17 Q4/17 rolling 12 months, MEUR Q1/18 Q2/18 eQ Plc Q3 2024 Result Presentation Q3/18 Net revenue
Slide 4: eQ Group – Balance sheet
eQ Group – Balance sheet Liquid assets ASSETS (MEUR) LIABILITIES AND EQUITY (MEUR) 9/2024 12/2023 9/2024 12/2023 29.0 MEUR Liquid assets 0.0 0.1 Other liabilities 23.2 6.9 Claims on credit institutions 20.0 22.8 Accruals and deferred income 9.1 12.9 Private equity and real Lease liabilities 4.2 5.0
Slide 5: Asset Management
Asset Management 22/10/2024 eQ Plc Q3 2024 Result Presentation 5
Slide 6: Asset Management – Income statement
Asset Management – Income statement MEUR 1-9/2024 1-9/2023 Change 7-9/2024 7-9/2023 Change 1-12/2023 NET REVENUE 45.5 50.3 -10 % 15.2 15.9 -4 % 66.9 Personnel expenses -15.0 -15.4 -2 % -4.6 -4.4 5% -21.1 Other administrative -1.5 -1.3 14 % -0.5 -0.4 16 % -1.9 expenses Depreciation -0.7 -0.8 -12 % -0
Slide 7: Asset Management – Fee income change
Asset Management – Fee income change Asset management fee income change -4.7 MEUR / -9 % Traditional Real Estate 0.5 MEUR / 7 % Private Equity -5.5 MEUR / -21 % 0.4 MEUR / 2 % 22/10/2024 eQ Plc Q3 2024 Result Presentation 7
Slide 8: Asset Management – Fee income
Asset Management – Fee income MEUR 1-9/2024 1-9/2023 Growth 7-9/2024 7-9/2023 Growth 1-12/2023 Management fees Traditional asset management 7.1 6.6 7% 2.4 2.2 5% 8.8 Real estate asset management 20.8 27.0 -23 % 6.8 8.7 -22 % 35.6 Private equity asset management 14.1 13.1 7% 4.9 4.4 9% 17.6 Managemen
Slide 9: Asset Management – Rolling 12 months
10 20 30 40 50 60 70 80 0 Q4/13 Q1/14 22/10/2024 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 rolling 12 months, MEUR Q3/18 eQ Plc Q3 2024 Result Presentation Q4/18 Net revenue development, Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21
Slide 10: Assets under management
Assets under management Assets under management development, bn. EUR Assets under management split 9/2024 12 Private Equity -Asset 1-9/2024 growth 356 MEUR / 4 % Management Private Traditional: Traditional Asset Management Programs Equity: 39 % funds 10 1.0 41 % 1.0 1.0 2.2 Traditional Asset Managem
Slide 11: Asset Management – Traditional funds
Asset Management – Traditional funds Gross Return 30/09/2024 Since beginning of the year 3 years p.a. 5 years p.a. Morning- Funds Return Comp. Diff. Return Comp. Diff. Return Comp. Diff. star eQ Finland -fund Fixed income Funds received the award for eQ Euro Short Term 3,00 % 2,18 % 1,21 % eQ Floati
Slide 12: Asset Management – Real estate funds
Asset Management – Real estate funds eQ Community Properties eQ Commercial Properties eQ Residential • Invests in modern care properties and social • Invests in commercial real estate • Closed-end fund only for professional investors – infrastructure properties invests in residential properties • Av
Slide 13: Asset Management – Private equity
Asset Management – Private equity AUM total 3.2 bn, EUR Fundraising, MEUR Vintage Fund Size Stage 500 Fund of funds – Northern Europe 2024 eQ PE XVI North 221 MEUR 5th close 450 2022 eQ PE XIV North 288 MEUR Fully invested 2020 eQ PE XII North 205 MEUR Fully invested 2018 eQ PE X North 175 MEUR Full
Slide 14: Corporate Finance
Corporate Finance 22/10/2024 eQ Plc Q3 2024 Result Presentation 14
Slide 15: Corporate Finance – Latest transactions
Corporate Finance – Latest transactions M&A Transactions and Equity markets Real estate transactions 22/10/2024 eQ Plc Q3 2024 Result Presentation 15
Slide 16: Corporate Finance – Key figures
Corporate Finance – Key figures MEUR 1-9/2024 1-9/2023 Change 7-9/2024 7-9/2023 Change 1-12/2023 NET REVENUE 4.3 1.2 251 % 1.3 0.3 300 % 3.9 Personnel expenses -2.3 -1.6 42 % -0.7 -0.4 70 % -2.6 Other administrative expenses -0.3 -0.3 4% -0.1 -0.1 7% -0.3 Depreciation -0.1 -0.1 -5 % -0.0 -0.0 -5 % -
Slide 17: Investments
Investments 22/10/2024 eQ Plc Q3 2024 Result Presentation 17
Slide 18: Investments – Key figures
Investments – Key figures MEUR 1-9/2024 1-9/2023 7-9/2024 7-9/2023 1-12/2023 • During the period under review Returned capital (excl. profit) 1.0 1.2 0.6 0.6 1.4 eQ Plc made a EUR 1.0 Distribution of profits 0.7 0.6 0.4 0.2 0.8 million investment commitment Capital calls -1.0 -1.5 -0.1 -0.4 -2.3 in
Slide 19: eQ’s Share, Outlook and Summary
eQ’s Share, Outlook and Summary 22/10/2024 eQ Plc Q3 2024 Result Presentation 19
Slide 20: Share price, volume and market cap
Share price, volume and market cap 35,00 • The closing price of eQ Plc’s share on 140 000 30 September 2024 was EUR 14.05 30,00 (EUR 15.58 on 31 Dec. 2023). The 120 000 market capitalisation of the company 25,00 was EUR 581.8 million (EUR 634.8 100 000 million) at the end of the period. 20,00 • Duri
Slide 21: Shareholders September 30th 2024
Shareholders September 30th 2024 Shares % of shares The number of shareholders 1 Fennogens Investments S.A. 8 087 605 19.53 2 Rettig Group Oy Ab 6 331 706 15.29 9 000 3 Chilla Capital S.A. 6 215 904 15.01 8 500 8 376 4 Teamet Oy 4 250 000 10.26 8 277 8 253 5 Oy Cevante Ab 1 419 063 3.43 8 000 7 883
Slide 22: Outlook (unchanged)
Outlook (unchanged) The asset management market in Finland has grown strongly, and eQ’s growth has outpaced the market. We estimate that the long-term outlook for growth in the asset management market and for eQ in Finland is still good. For eQ’s real estate funds, 2023 was a difficult year due to a
Slide 23: Summary
Summary MEUR 1-9/2024 1-9/2023 Change 7-9/2024 7-9/2023 Change 1-12/2023 Net revenue 50.9 52.3 -3 % 16.7 16.6 1% 70.9 Operating profit 27.6 30.0 -8 % 9.6 10.2 -6 % 39.7 Profit for the period 21.9 23.8 -8 % 7.6 8.1 -6 % 31.5 Earnings per share 0.53 0.59 -9 % 0.18 0.20 -8 % 0.78 (EUR) Cost/income-rati
Slide 24: eQ Plc 2024 financial statements release will be published 4 February 2025
eQ Plc 2024 financial statements release will be published Tuesday 4 of February 2025 th 22/10/2024 eQ Plc Q3 2024 Result Presentation 24