Equita Group Spa · MIL:EQUI
Equita Group Spa — STAR Conference 2025
32 slides from Equita Group Spa's conference presentation, Mar 27, 2025
Slide 1: EQUITA Group FY'24 Financial Results
EQUITA Group FY’24 Financial Results March 27th, 2025 – STAR Conference 1
Slide 2: Agenda
Agenda 1. EQUITA at a glance 2. Financial highlights (FY’24) 3. Focus on key recent announcements 4. What do we see in the next future 5. Closing remarks 6. Appendix
Slide 3: EQUITA at a glance
EQUITA at a glance =EQUITA
Slide 4: Who we are: the leading independent Italian investment bank
Who we are: the leading independent Italian investment bank The most respected independent partner in Italy for investors, institutions, corporates and entrepreneurs, with a fifty-year history, listed on the Italian Stock Exchange and managed by a partnership of committed professionals EQUITA in a n
Slide 5: Successful story: half-a-century of independent thinking
Successful story: half-a-century of independent thinking Our roots date back to 1973, when EQUITA was founded as one of the first independent Italian merchant banks Euromobiliare SIM is The private equity J.C. Flowers & Co., in Management team (already owning a 49.5% Euromobiliare lists on the incor
Slide 6: Unique business model: what we bring to the table
Unique business model: what we bring to the table EQUITA is a reliable partner for the entire financial system and acts as broker, financial advisor and multi asset management platform. The Group offers a full range of services to investors, corporates and institutions Building blocks of the “EQUITA
Slide 7: Leading positioning: the go-to-partner when it comes to financial markets
Leading positioning: the go-to-partner when it comes to financial markets Our team has always been at the top of investors’ preferences for its outstanding research – especially on small & mid-caps – and its trading, execution, sales and corporate access services Available rankings for the last 10 y
Slide 8: Financial highlights (FY'24)
Financial highlights (FY’24)
Slide 9: Snapshot of 2024 results: transition year
Snapshot of 2024 results: transition year, consistent with our long-term growth trajectory Key Consolidated Highlights €79m €14m FY Net Revenues FY Net Profits €0.35 22% 3.7x 194 (-9% vs FY’23) (-13% vs FY’23) Dividend Return on IFR # of per share Tangible Equity Ratio professionals €24m €4m (propos
Slide 10: Things are gradually improving also in Italy, especially in M&A, DCM and Trading
Things are gradually improving also in Italy, especially in M&A, DCM and Trading, but subdued volumes on mid-small caps and lack of IPOs persist Third Parties Brokered Volumes (1) ▪ Euronext Milan +22% YoY YTD Feb’25 ▪ Euronext Growth Milan (39%) YoY Market figures ▪ Bonds (4%) YoY Equity – Euronext
Slide 11: Management commentary on FY'24 net revenues
EQUITA recorded growth in client-related business in Global Markets, M&A advisory and asset management fees. Transition year in Equity Capital Markets Trend in Net Revenues since IPO Commentary on FY’24 results +3% Client-related 40,3 40,9 40,6 business YoY ▪ Mid-single-digit growth in S&T thanks to
Slide 12: Discipline on comps-to-revenues and operating expenses confirmed
Discipline on comps-to-revenues and operating expenses confirmed by P&L figures, despite inflation and investments aimed at building our “ready-for-the-future” structure Key Consolidated Highlights Focus on Personnel Costs FY’24 FY’23 Var % 4Q’24 4Q’23 Var % FY’24 FY’23 Var % Compensation- Client-re
Slide 13: Investments completed in 2024 have set the ground for future growth
Anyway, the investments completed in 2024 have set the ground for future growth Summary of recent strategic developments Rationale and impacts ▪ Consolidation of minorities and increase in Net Profits EQUITA Mid Cap Advisory Acquisition of the remaining 30% minority stake ▪ Strengthening of the part
Slide 14: Focus on key recent announcements
Focus on key recent announcements
Slide 15: Key recent announcements involving governance and shareholders
Key recent announcements involving governance and shareholders New shareholders’ pact and changes to the organizational structure Outer circle: % share capital Inner circle: % of votes (AGM) Management team strongly New Shareholders’ Pact committed, with a long-term Market / 52% involving 38 signato
Slide 16: What do we see in the next future and closing remarks
What do we see in the next future and closing remarks
Slide 17: Last two years impacted by exogenous factors; we continued to invest
Last two years were impacted by several exogenous factors. Despite this, we continued to invest and strengthen Group’s structure and business model Complex framework Recent investments and initiatives accomplished Rationale Global ▪ Diversification of the product offering and Markets and development
Slide 18: Successful track-record since IPO from all standpoints
Successful track-record since IPO from all standpoints… Since 2017, EQUITA has consolidated its role as leading independent investment bank in Italy , growing in all areas and offering rewarding returns to its shareholders 156% 135% Rewarding return for shareholders Total Shareholder 45% 40% ▪ 150%+
Slide 19: Outstanding execution abilities and resiliency in tough markets
… demonstrating outstanding execution abilities and resiliency in tough markets Over the years, the team has diversified the offering dedicated to clients by growing organically and inorganically Execution abilities in the launch of new A B initiatives to boost and New initiatives Inorganic and supp
Slide 20: Considerations about the future
Considerations about the future ▪ Soft or no-landing scenario for all major economies, also assuming limited impacts from tariffs in the long term Market ▪ Further decrease in interest rates and expansionary monetary policies scenario ▪ Progress in institutional initiatives aimed at easing access to
Slide 21: Appendix
Appendix =EQUITA
Slide 22: Capital allocation strategy to offset dilution from mandatory incentive plans
Capital allocation strategy to offset dilution from mandatory incentive plans Summary of dilution since IPO +10.8% +7.6% Outstanding ▪ +3.2% of outstanding outstanding shares shares for Incentive Plans shares for M&A purposes, thus directly 1,8 50,0 linked to revenue and 1,6 0,0 net profit generatio
Slide 23: Investment Banking: the largest contributor to growth
Investment Banking: the largest contributor to growth, with plenty of opportunities Offering & Expertise Key Facts Investment Banking Increasing market share in temporary decreasing fee pot size (1) 5,1% 5,1% 6,9% 6,3% 3,8% Decrease Global Financing M&A & Advisory 2,7% 3,8% 3,3% due to weak ECM 1.03
Slide 24: Investment Banking: 50+ mandates in 2024
Investment Banking: 50+ mandates in 2024 Public & Large M&A (selected credentials) Debt Capital Markets (DCM) Equity Capital Markets (ECM) Mid-Market M&A (selected credentials) 24
Slide 25: Investment Banking: an increasing footprint outside Italy
Investment Banking: an increasing footprint outside Italy in M&A and corporate finance Solid track record in the execution of cross-border M&A transactions, helping corporates and private equity funds EQUITA is exclusive member for Italy of Clairfield International, the global partnership of corpora
Slide 26: Global Markets: very profitable historical business and high barriers to entry
Global Markets: very profitable historical business and high barriers to entry Offering & Expertise Key Facts GM - Client-related business GM - Non client-related ≈ 7-8% market share Institutional Retail Hub Client-Driven Trading Directional in the brokerage Sales Sales & Market Making Trading of Eq
Slide 27: Research Team: a team of experts, at the top of international rankings
Research Team: a team of experts, at the top of international rankings Offering & Expertise Key Facts Reports and Events 160+ Italian and Roadshows and foreign listed Equity Bond Thematic Conferences companies covered Daily, Internal Weekly, Conferences 600+ Weekly, PIR Dealing, Utilities Monthly, M
Slide 28: Alternative Asset Management: the rising star
Alternative Asset Management: the rising star, where sky is the limit Offering & Expertise Key Facts Illiquid Products Liquid Products Increasing mix to illiquid assets Private Private Infrastructures Liquid Strategies 1.106 Debt Equity & Renewables 980 1.019 944 57 955 993 1.027 49 39 100 110 140 6
Slide 29: A reliable partner with a strong brand, committed to sustainability
A reliable partner with a strong brand and an improving positioning, committed to sustainability Recent initiatives dedicated to sustainability The EQUITA brand ▪ Launch of a new sustainable finance team to address clients’ needs and Voluntary CSR Report 2024 advise investors, corporates, entreprene
Slide 30: Healthy balance sheet, with capital ratios well above minimum requirements
Healthy balance sheet, with capital ratios well above minimum requirements (€m) FY’24 9M’24 1H’24 1Q’24 FY’23 FY’22 FY’21 FY’20 Cash & Cash equivalents 77.8 87.5 90.5 87.5 130.5 107.9 136.1 117.2 Financial assets at fair value with impact on P&L 113.1 105.4 94.0 102.0 77.4 111.7 49.2 43.8 Financial
Slide 31: Disclaimer
Disclaimer This presentation shall be considered as confidential. It may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. The views presented herein, which do not purport to be comprehensive, are for discus
Slide 32: www.equita.eu
www.equita.eu