Slide 1: eQ Plc – Result 2024
eQ Plc – Result 2024 Result presentation 4th of February 2025 1
Slide 2: eQ Group – Key figures
eQ Group – Key figures MEUR 1-12/24 1-12/23 Change 10-12/24 10-12/23 Change Net revenue 65.6 70.9 -7 % 14.8 18.5 -20 % Operating profit 34.5 39.7 -13 % 6.9 9.8 -29 % Profit for the period 27.4 31.5 -13 % 5.5 7.8 -29 % Earnings per share (EUR) 0.66 0.78 -14 % 0.13 0.19 -30 % Cost/income-ratio, % 47.4
Slide 3: eQ Group – Rolling 12 months
eQ Group – Rolling 12 months Net revenue development, Operating profit development, rolling 12 months, MEUR rolling 12 months, MEUR 65.6 34.5 100,0 60,0 45.7 90,0 50,0 80,0 70,0 40,0 60,0 50,0 30,0 40,0 20,0 30,0 20,0 10,0 10,0 0,0 0,0 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/1
Slide 4: eQ Group – Balance sheet
eQ Group – Balance sheet Liquid assets ASSETS (MEUR) LIABILITIES AND EQUITY (MEUR) 12/2024 12/2023 12/2024 12/2023 17.0 MEUR Liquid assets 0.1 0.0 Other liabilities 6.8 6.9 Claims on credit institutions 7.9 22.8 Accruals and deferred income 10.9 12.9 Private equity and real Lease liabilities 4.0 5.0
Slide 5: Asset Management
Asset Management 4 Feb 2025 eQ Plc 2024 Result Presentation 5
Slide 6: SFR Research 2024
SFR Research 2024 The usage of eQ increased further. The goal is to return to the top in quality. Most used institutional asset managers Quality ratings (1-5) Annual SFR Research 0% 20% 40% 60% 80% 3,00 3,50 4,00 4,50 SFR 2024: 1 74% • The usage of eQ increased. In alternative investments, eQ is by
Slide 7: eQ Group’s sustainability
eQ Group’s sustainability eQ Group’s sustainability • eQ Plc has been given the international ISS ESG Prime sustainability rating • Employee job satisfaction, commitment and well-being at an excellent level • eQ Group’s Sustainability Report is part of the Annual Report Responsible and sustainable i
Slide 8: Asset Management – Income statement
Asset Management – Income statement MEUR 1-12/24 1-12/23 Change 10-12/24 10-12/23 Change NET REVENUE 58.5 66.9 -13 % 13.0 16.6 -22 % Personnel expenses -19.9 -21.1 -6 % -4.8 -5.7 -15 % Other administrative -2.2 -1.9 13 % -0.6 -0.6 12 % expenses Depreciation -0.9 - 1.0 -11 % -0.2 -0.3 -7 % Other oper
Slide 9: Asset Management – Fee income
Asset Management – Fee income Asset management fee income change -8.3 MEUR / -12 % Traditional Real Estate Private Equity 0.6 MEUR / 6 % -7.5 MEUR / -22 % -1.2 MEUR / -5 % Private Equity asset management performance fees in 2024 include a previously accrued eQ PE SF II fund fee write-down of EUR 1.8
Slide 10: Asset Management – Fee income
Asset Management – Fee income MEUR 1-12/2024 1-12/2023 Change 10-12/2024 10-12/2023 Change Management fees Traditional asset management 9.4 8.8 6% 2.3 2.2 4% Real estate asset management 27.3 35.6 -23 % 6.5 8.5 -24 % Private equity asset management 18.9 17.6 8% 4.8 4.4 9% Management fees total 55.6
Slide 11: Asset Management – Rolling 12 months
0 10 20 30 40 50 60 70 80 Q4/14 Q1/15 4 Feb 2025 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 Q3/18 Q4/18 rolling 12 months, MEUR eQ Plc 2024 Result Presentation Q1/19 Q2/19 Q3/19 Net revenue development, Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2
Slide 12: Fee income development annually
Fee income development annually Real Estate fees have declined over the past two years. Private Equity management fees have grown steadily. 80,0 70,0 4.3 5.4 60,0 50,0 4.0 35.1 35.6 29.1 27.3 4.1 40,0 2.6 25.6 30,0 21.9 3.1 6.5 6.1 3.5 16.8 20,0 13.9 18.9 12.5 16.9 17.6 8.7 10.1 2.9 10,0 2.7 0.2 8.6
Slide 13: Assets under management
Assets under management Assets under management at a record level Assets under management development, bn. EUR Assets under management split 12/2024 12 Private Equity 1-12/2024 growth 409 MEUR / 4 % programme funds Private Traditional: Traditional Asset Management Equity: 39 % funds 10 1.0 41 % 1.0
Slide 14: Asset Management – Traditional funds
Asset Management – Traditional funds Gross Return 31/12/2024 12 months 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 3,88 % 2,51 % 1,40 % eQ Floating Rate 4,68 % 4,02
Slide 15: 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 16: Asset Management – Private equity
Asset Management – Private equity AUM total 3.3 bn. EUR Fundraising, MEUR Vintage Fund Size Stage 600 Fund of funds – Northern Europe 2024 eQ PE XVI North 227 MEUR Investing 2022 eQ PE XIV North 288 MEUR Fully invested 2020 eQ PE XII North 205 MEUR Fully invested 500 2018 eQ PE X North 175 MEUR Full
Slide 17: PE funds performance based fees 31 Dec 2024
PE funds performance based fees 31 Dec 2024 Fund Fund size Vintage year Hurdle rate Performance fees eQ’s share of the Present TVPI Estimated TVPI Estimate on reaching the Estimated catch up Estimated future Performance fees performance fee hurdle rate (cash flow) share, total MEUR performance fees,
Slide 18: Corporate Finance
Corporate Finance 4 Feb 2025 eQ Plc 2024 Result Presentation 18
Slide 19: Corporate Finance – Latest transactions
Corporate Finance – Latest transactions M&A Transactions and Equity markets Real estate transactions 4 Feb 2025 eQ Plc 2024 Result Presentation 19
Slide 20: Corporate Finance – Key figures
Corporate Finance – Key figures MEUR 1-12/24 1-12/23 Change 10-12/24 10-12/23 Change NET REVENUE 5.3 3.9 34 % 1.0 2.7 -63 % Personnel expenses -3.1 -2.6 18 % -0.8 -1.0 -20 % Other administrative expenses -0.4 -0.3 4% -0.1 -0.1 4% Depreciation -0.2 -0.2 -4 % -0.0 -0.0 0% Other operating expenses -0.2
Slide 21: Investments
Investments 4 Feb 2025 eQ Plc 2024 Result Presentation 21
Slide 22: Investments – Key figures
Investments – Key figures MEUR 1-12/24 1-12/23 10-12/24 10-12/23 • During the financial year 2024, eQ Returned capital (excl. profit) 1.2 1.4 0.2 0.2 Plc made a EUR 1.0 million Distribution of profits 1.3 0.8 0.6 0.2 investment commitment in the eQ Capital calls -1.6 -2.3 -0.7 -0.8 PE XVI North fund
Slide 23: eQ’s Share, Outlook and Summary
eQ’s Share, Outlook and Summary 4 Feb 2025 eQ Plc 2024 Result Presentation 23
Slide 24: Share price development and market cap
Share price development and market cap 35,00 100 000 • The closing price of eQ Plc’s share on 90 000 December 31st 2024 was EUR 12.95 30,00 (EUR 15.58 on 31 Dec. 2023). The 80 000 market capitalization of the company was EUR 536.2 million (EUR 634.8 25,00 70 000 million). 60 000 • During the year, 9
Slide 25: Shareholders December 31st 2024
Shareholders December 31st 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 8 073 5 Oy Cevante Ab 1 419 063 3.43 8 000 7 883 6
Slide 26: Outlook
Outlook The difficult market situation in the Finnish real estate market continued in 2024. Our assessment is that the real estate market levelled off towards the end of the year and that yield requirements generally stopped rising in the final quarter of the year. However, market liquidity remained
Slide 27: Summary
Summary MEUR 1-12/24 1-12/23 Change 10-12/24 10-12/23 Change Net revenue 65.6 70.9 -7 % 14.8 18.5 -20 % Operating profit 34.5 39.7 -13 % 6.9 9.8 -29 % Profit for the period 27.4 31.5 -13 % 5.5 7.8 -29 % Earnings per share (EUR) 0.66 0.78 -14 % 0.13 0.19 -30 % Cost/income-ratio, % 47.4 43.8 8% 53.3 4
Slide 28: eQ Plc Q1 2025 interim report will be published on 29 April 2025
eQ Plc Q1 2025 interim report will be published on Tuesday 29 of th April 2025 4 Feb 2025 eQ Plc 2024 Result Presentation 28