Fiera Capital Corporation Class A · TSX:FSZ
Fiera Capital Corporation Class A — Q1 2021 Earnings Presentation
22 slides from Fiera Capital Corporation Class A's earnings presentation, May 6, 2021
Slide 1: Q1 2021 Results
<> FIERACAPITAL May 6, 2021 Q1 2021 Results
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of applicable Canadian securities legislation. These forward-looking statements relate to future events or future performance, and reflect management’s expectations or beliefs regarding future events,
Slide 3: Conference Call Participants
Conference Call Participants Jean-Philippe Lemay Global President and Chief Operating Officer Lucas Pontillo Executive Vice President and Global Chief Financial Officer 3
Slide 4: Topics for Discussion
Topics for Discussion Q1 2021 Highlights Discussion on AUM and flows Investment platform update Q1 2021 financial performance review Investment performance update Business update 4
Slide 5: Q1 2021 Highlights
Q1 2021 Highlights $172.9B as at March 31, 2021 a $13.4B increase ( 8%) over the last twelve months AUM a $1.3B increase ( 1%) in Q1 2021, excluding the impact of the sale of Bel Air Investment Advisors (“Bel Air”) and the termination of the revenue sharing arrangement with City National Rochd
Slide 6: AUM of $172.9B as at March 31, 2021
AUM of $172.9B as at March 31, 2021 Q1 2021 Flows ($B) Net organic growth of $3.1B Totals and subtotals may not reconcile due to rounding. AUM up $1.3B from December 31, 2020 Committed, undeployed capital for private market investment strategies now included in total AUM $1.7B in committed, unde
Slide 7: Q1 2021 Sales Update
Q1 2021 Sales Update (in $ millions) New Lost Contributions from Net March 31, 2021 Mandates Mandates Existing Clients Organic Sales AUM Institutional 1,412 (476) 29 965 89,211 Financial Intermediaries 1,072 (470) 922 1,524 69,915 Private Wealth 713 (150) 53 616 13,769 Total 3,197 (1,096) 1,004 3,10
Slide 8: Investment Platform Update
Investment Platform Update As at March 31, 2021 Public Markets AUM Large Cap Equity strategies AUM up $1.1B (0.7%) compared to $85.3B Small Cap, Emerging and December 31, 2020 (excluding the Q1 2021 Frontier Strategies impact of the sale of Bel Air and the termination of the CNR arrangement) Canadia
Slide 9: Revenue Trend
Revenue Trend Quarterly ($M) Total revenues of $165.6M in Q1 2021, up $3.9, or 2.4%, year over year Institutional base management fees up$14.6M Multiple new mandates won across all geographies Financial Intermediaries base management fees down $6.9M Mainly from the sale of Fiera Investments reta
Slide 10: Selling, General and Administrative Expenses (SG&A)
Selling, General and Administrative Expenses (SG&A) (in $M) SG&A Total Revenues Q1 2021 vs Q1 2019 Total revenues up $22.8M over two years, or 16.0% 16.0% SG&A up only 11.2% 11.2% Q1 2021 vs Q1 2020 2.6% year-over-year increase in SG&A Increase primarily due to $3.3M of share-based compensation
Slide 11: Net Earnings & Adjusted Net Earnings Q1 2021 and Q1 2020
Net Earnings1 & Adjusted Net Earnings1,2 Q1 2021 and Q1 2020 Net earnings (loss) attributable to Company Net earnings (loss) per share1 ($) shareholders ($M) Adjusted net earnings1,2 ($M) $0.21 per $0.36 per share share 1) Attributable to Company shareholders 2) Earnings before interest, taxes, depr
Slide 12: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA1 and Adjusted EBITDA Margin1 Quarterly Last Twelve Months2 Q1 Adjusted EBITDA margin up 150 basis points over 2 years 1) Earnings before interest, taxes, depreciation and amortization (EBITDA), Adjusted EBITDA and Adjusted EBITDA per share, Adjusted net earnings and Adjusted net earn
Slide 13: Leverage, Liquidity and Dividends
Leverage, Liquidity and Dividends Funded debt ratio of ~2.40x as at March 31, 2021 Lowered for the 4th consecutive quarter Lowest level in three years Leverage Net Debt Funded Debt Cash and cash equivalents of $46.2M as at March 31, 2021 Dividends On May 5, 2021, dividend declared of $0.21/sha
Slide 14: Investment Performance Update – Public Markets
Investment Performance Update – Public Markets Key Public Market Q1 2021 1-Year 3-Year Investment Strategies1 Added Added Added Return Return Return value Value Value Equity Investment Strategies Global Equity 1.13% (2.38%) 31.94% (4.08%) 16.15% 4.29% Atlas Global Equity (3.63%) (7.14%) 40.51% 4.49%
Slide 15: Investment Performance Update – Private Markets
Investment Performance Update – Private Markets Key Private Market Investment Strategies Q1 2021 1-YR Absolute Absolute Performance, since inception Return1 Gross IRR2 Return3 Return3 Fiera Real Estate CORE Fund L.P. 8.23% - 3.60% 5.88% Real Estate Fiera Real Estate Small Cap Industrial Fund L.P. 13
Slide 16: Catalysts for Growth
Catalysts for Growth Catalysts Market Dynamics Our approach Growing demand for private market • Real asset specialists investment strategies across channels and Private Markets regions • Global mid-market investors • Access enablers Investors seeking outcomes • Breadth of investment platform Multi-A
Slide 17: Appendix: Additional Information
APPENDIX Additional Information 17
Slide 18: AUM by Distribution Channel
AUM by Distribution Channel Last 8 quarters (In $B) Note: Subtotals and totals may not reconcile due to rounding. 18
Slide 19: Revenues by Distribution Channel
Revenues by Distribution Channel Last 8 quarters (In $M) Note: Subtotals and totals may not reconcile due to rounding. 19
Slide 20: Question Period
<> FIERACAPITAL Question Period
Slide 21: Mariem Elsayed, Director, Investor Relations and Public Affairs
Mariem Elsayed Director, Investor Relations and Public Affairs melsayed@fieracapital.com T 514 954-6619 21
Slide 22: fiera.com
fiera.com > FIERA