Apollo Global Management, Inc. (new) · NYSE:APO
Apollo Global Management, Inc. (new) — Apollo Global Management — Earnings Presentation (April 2019)
16 slides from Apollo Global Management, Inc. (new)'s earnings presentation, Apr 22, 2019
Slide 1: Apollo Global Management Earnings Presentation Update
APOLLO GLOBAL MANAGEMENT, LLC (NYSE: APO) Apollo Global Management Earnings Presentation Update April 22, 2019
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements i
Slide 3: Overview: Changes in Segment Key Performance Measures
Overview Change in Segment Key Performance Measures Apollo’s senior management has re-evaluated the manner in which it measures the financial operating performance of its segments. Apollo’s chief operating decision makers have determined that Segment Distributable Earnings, together with its main co
Slide 4: Segment Key Performance Measures
Segment Key Performance Measures
Slide 5: Total Segments
Total Segments ($ in thousands, except where noted) 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 FY'16 FY'17 FY'18 Management fees $230,933 $241,633 $258,485 $246,598 $252,053 $266,908 $282,434 $280,920 $272,203 $325,864 $339,905 $344,716 $977,649 $1,082,315 $1,282,688 Adv
Slide 6: Credit
Credit ($ in thousands, except where noted) 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 FY'16 FY'17 FY'18 Management fees $115,396 $123,348 $123,725 $123,919 $127,166 $134,885 $145,623 $147,912 $149,715 $153,177 $167,178 $172,261 $486,388 $555,586 $642,331 Advisory and tr
Slide 7: Private Equity
Private Equity ($ in thousands, except where noted) 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 FY'16 FY'17 FY'18 Management fees $86,844 $88,830 $103,996 $91,028 $89,912 $90,166 $88,456 $87,674 $82,280 $132,417 $131,578 $130,910 $370,698 $356,208 $477,185 Advisory and tr
Slide 8: Real Assets
Real Assets ($ in thousands, except where noted) 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 FY'16 FY'17 FY'18 Management fees $28,693 $29,455 $30,764 $31,651 $34,975 $41,857 $48,355 $45,334 $40,208 $40,270 $41,149 $41,545 $120,563 $170,521 $163,172 Advisory and transacti
Slide 9: Total Segment Revenues, Expenses and Other Income (Loss)
Total Segment Revenues, Expenses and Other Income (Loss) Total Segment Revenues: ($ in thousands) 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 FY'16 FY'17 FY'18 Management fees $239,850 $247,925 $260,792 $252,023 $252,779 $272,645 $288,607 $285,950 $277,478 $331,630 $346,9
Slide 10: GAAP Consolidated Statements of Operations
GAAP Consolidated Statements of Operations ($ in thousands, except share data) 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 FY'16 FY'17 FY'18 Revenues: Management fees $233,795 $267,063 $274,313 $268,342 $269,543 $281,305 $301,443 $302,634 $286,726 $341,626 $358,750 $358,1
Slide 11: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures ($ in thousands) 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 FY'16 FY'17 FY'18 Net Income (Loss) Attributable to AGM Class A Shareholders ($32,828) $174,092 $94,619 $166,967 $145,196 $86,908 $198,569 $184,893 ($62,645) $54,658 $
Slide 12: Reconciliation of GAAP Net Income Per Class A Share to Non-GAAP Per Share Measures
Reconciliation of GAAP Net Income Per Class A Share to Non-GAAP Per Share Measures ($ in thousands, except share data) 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 FY'16 FY'17 FY'18 Net Income (Loss) Attributable to AGM Class A ($32,828) $174,092 $94,619 $166,967 $145,196
Slide 13: Definitions
Definitions • “Segment Distributable Earnings”, or “Segment DE”, is the key performance measure used by management in evaluating the performance of Apollo’s credit, private equity and real assets segments. Management uses Segment DE to make key operating decisions such as the following: • Decisions
Slide 14: Presentation of AUM
Presentation of AUM APOLLO
Slide 15: AUM by Segment and AUM by Strategy
AUM by Segment As of December 31, 2016 As of December 31, 2017 As of December 31, 2018 ($ in millions) AUM FG AUM PFE AUM PFG AUM AUM FG AUM PFE AUM PFG AUM AUM FG AUM PFE AUM PFG AUM Total Credit $117,472 $98,744 $37,685 $29,078 $144,807 $116,352 $41,888 $22,366 $174,378 $144,071 $49,914 $23,574 To
Slide 16: Assets Under Management Definitions
Assets Under Management Definitions • “Assets Under Management”, or “AUM”, refers to the assets of the funds, partnerships and accounts to which we provide investment management, advisory, or certain other investment-related services, including, without limitation, capital that such funds, partnersh
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