Slide 1: eQ Plc – Result 2023
eQ Plc – Result 2023 Result presentation 6th February 2024 15/02/2024 eQ Plc Result 2023 1
Slide 2: eQ Group – Key figures
eQ Group – Key figures MEUR 1-12/23 1-12/22 Change 10-12/23 10-12/22 Change Net revenue 70.9 77.8 -9 % 18.5 13.6 36 % Operating profit 39.7 45.7 -13 % 9.8 6.3 56 % Profit for the period 31.5 36.3 -13 % 7.8 4.9 57 % Earnings per share (EUR) 0.78 0.91 -14 % 0.19 0.12 55 % Cost/income-ratio, % 43.8 41.
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 -10,0 100,0 Q4/13 15/02/2024 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Asset Management Q2/16 Group Administration Q3/16 eQ Plc Result 2023 Q4/16 Q1/17 Q2/17 Q3/17 rolling 12 months, MEUR Q4/17 Q1/18 Net revenue development, Q2/18 Q3/18 Q4
Slide 4: eQ Group – Balance sheet
eQ Group – Balance sheet Liquid assets ASSETS (MEUR) LIABILITIES AND EQUITY (MEUR) 12/2023 12/2022 12/2023 12/2022 33.4 MEUR Liquid assets 0.7 0.0 Other liabilities 6.9 6.8 Claims on credit institutions 22.8 23.7 Accruals and deferred income 12.9 16.6 Private equity and real Lease liabilities 5.0 5.
Slide 5: Asset Management
Asset Management 15/02/2024 eQ Plc Result 2023 5
Slide 6: SFR Research 2023
SFR Research 2023 Quality ratings (1-5) Most used institutional asset managers SFR 2023: eQ received 1st place in 7/9 categories: 3,60 3,80 4,00 4,20 0% 20% 40% 60% 80% 1 72% 1. Investment performance 3 years eQ 4,11 eQ 64% 2. Investment performance 12 months 3 62% 3. Client servicing 2 4,01 4 57% 4
Slide 7: eQ Group’s sustainability
eQ Group’s sustainability eQ Group’s sustainability • eQ Plc is included in the Nasdaq OMX Sustainability Finland index (40 Finnish listed companies) • eQ Plc has been given the international ISS ESG Prime responsibility rating • eQ Group’s Sustainability Report is part of the Annual Report Responsi
Slide 8: Asset Management – Income statement
Asset Management – Income statement MEUR 1-12/2023 1-12/2022 Change 10-12/2023 10-12/22 Change NET REVENUE 66.9 71.8 -7 % 16.6 13.3 25 % Personnel expenses -21.1 -22.0 -4 % -5.7 -4.7 21 % Other administrative expenses -1.9 -1.8 6% -0.6 -0.5 7% Depreciation -1.0 -0.9 13 % -0.3 -0.3 -9 % Other operati
Slide 9: Asset Management – Fee income change
Asset Management – Fee income change Asset management fee income change -4.9 MEUR / -7 % Traditional Real Estate -0.6 MEUR / -6 % Private Equity -4.6 MEUR / -12 % 0.3 MEUR / 1 % 15/02/2024 eQ Plc Result 2023 9
Slide 10: Asset Management – Fee income and Aum
Asset Management – Fee income and Aum MEUR 1-12/2023 1-12/2022 Change 10-12/2023 10-12/2022 Change Management fees Traditional asset management 8.8 9.4 -6 % 2.2 2.1 6% Real estate asset management 35.6 35.1 1% 8.5 9.4 -9 % Private equity asset management 17.6 16.9 4% 4.4 4.3 2% Management fees total
Slide 11: Asset Management – Rolling 12 months
10 20 30 40 60 70 80 50 0 Q4/13 Q1/14 15/02/2024 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 eQ Plc Result 2023 Q1/17 Q2/17 Q3/17 Q4/17 rolling 12 months, MEUR Q1/18 Q2/18 Q3/18 Net revenue development, Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/
Slide 12: Asset Management – Traditional funds
Asset Management – Traditional funds Gross Return 31.12.2023 3 month 12 month 3 years p.a. 5 years p.a. Morning- Funds Return Comp. Diff. Return Comp. Diff. Return Comp. Diff. Return Comp. Diff. star Fixed income Funds eQ Euro Short Term 1,13 % 3,50 % 1,09 % 0,61 % eQ Floating Rate 1,37 % 1,01 % 0,3
Slide 13: 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 14: Asset Management – Private Equity
Asset Management – Private Equity AUM total 3.0 bn EUR Fundraising, MEUR Vintage Fund Size Stage Fund of funds – Northern Europe 500 2022 eQ PE XIV North 288 MEUR Fully invested 2020 eQ PE XII North 205 MEUR Fully invested 450 2018 eQ PE X North 175 MEUR Fully invested 2016 eQ PE VIII North 160 MEUR
Slide 15: PE funds performance based fees Dec 2023
PE funds performance based fees 31 Dec 2023 15/02/2024 eQ Plc Result 2023 15
Slide 16: Corporate Finance
Corporate Finance 15/02/2024 eQ Plc Result 2023 16
Slide 17: Corporate Finance – Latest transactions
Corporate Finance – Latest transactions M&A Transactions and Equity markets Real estate transactions 15/02/2024 eQ Plc Result 2023 17
Slide 18: Corporate Finance – Key figures
Corporate Finance – Key figures MEUR 1-12/2023 1-12/2022 Change 10-12/2023 10-12/2022 Change NET REVENUE 3.9 5.4 -27 % 2.7 1.0 163 % Personnel expenses -2.6 -2.9 -11 % -1.0 -0.6 53 % Other administrative expenses -0.3 -0.4 -11 % -0.1 -0.1 2% Depreciation -0.2 -0.2 -1 % -0.0 -0.0 -2 % Other operating
Slide 19: Investments
Investments 15/02/2024 eQ Plc Result 2023 19
Slide 20: Investments – Key figures
Investments – Key figures MEUR 1-12/2023 1-12/2022 10-12/2023 10-12/2022 • During the period under Returned capital (excl. profit) 1.4 2.9 0.2 0.2 review, eQ Plc made a USD Distribution of profits 0.8 2.0 0.2 0.8 1.0 million investment Capital calls -2.3 -2.1 -0.8 -0.4 commitment in the Net cash flo
Slide 21: eQ’s share, outlook and summary
eQ’s share, outlook and summary 15/02/2024 eQ Plc Result 2023 21
Slide 22: Share price development and market cap
Share price development and market cap 35,00 • The closing price of eQ Plc’s share on 31 December 2023 was 30,00 EUR 15.58 (EUR 25.45 on 31 25,00 Dec. 2022). The market capitalisation of the company 20,00 was thus EUR 634.8 million (EUR 1,028.9 million) at the end 15,00 of the period. • During the p
Slide 23: Shareholders December 2023
Shareholders 31 December 2023 Shares % of shares The number of shareholders 1 Fennogens Investments S.A. 7 962 605 19.54 2 Rettig Group Oy Ab 6 206 706 15.23 9 000 8 277 8 376 3 Chilla Capital S.A. 6 165 904 15.13 7 883 8 000 4 Teamet Oy 4 250 000 10.43 7 261 5 Oy Cevante Ab 1 419 063 3.48 7 000 6 F
Slide 24: Outlook
Outlook 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 an increase o
Slide 25: Summary
Summary MEUR 1-12/2023 1-12/2022 Change 10-12/2023 10-12/2022 Change Net revenue 70.9 77.8 -9 % 18.5 13.6 36 % Operating profit 39.7 45.7 -13 % 9.8 6.3 56 % Profit for the period 31.5 36.3 -13 % 7.8 4.9 57 % Earnings per share (EUR) 0.78 0.91 -14 % 0.19 0.12 55 % Cost/income-ratio, % 43.8 41.1 7% 47
Slide 26: eQ Plc Q1 2024 interim report publication
eQ Plc Q1 2024 interim report will be published on Tuesday 23rd of April 2024 15/02/2024 eQ Plc Result 2023 26