Shuaa Capital (p.s.c) · DFM:SHUAA
Shuaa Capital (p.s.c) — SHUAA Capital — Q2 2024 Earnings Presentation
12 slides from Shuaa Capital (p.s.c)'s earnings presentation, Aug 14, 2024
Slide 1: SHUAA Earnings Presentation Q2 2024
SHUAA Earnings Presentation Q2 2024 14 August 2024
Slide 2: Executive Summary
Executive Summary • Adjusted operating income for H1 2024 was AED 5.5 million favourable compared to the previous year after normalizing for one-off revenues from the prior year, driven by a significant reduction in operating expenses due to the cost efficiency measures Financial implemented in 2023
Slide 3: Key Financial Highlights Q2 2024
Key Financial Highlights Q2 2024 Q2 2024 Financial Performance Comments Income Statement (AED Mn) H1-24 H1-23 Y/Y Change Q2-24 Q1-24 Q/Q Change Fee and Commission Revenue 47.5 51.0 (3.5) 20.2 27.3 (7.0) Adjusted operating income is AED 5.5 million favouarable compared to the previous year, after nor
Slide 4: Key Financial Highlights
Key Financial Highlights AED M Revenue Operating Income 60 38 97 CIR 58% 93% 111% 84% 131% 103% 35 35 29 28 6 63 50 5 31 31 30 20 6 (4) (2) Q1 2023 Q2 2023 H1 2023 Q1 2024 Q2 2024 H1 2024 (3) (6) (7) Run-Rate One-offs Q1 2023 Q2 2023 H1 2023 Q1 2024 Q2 2024 H1 2024 Net Profit (Loss) attributable to
Slide 5: Revenue Snapshot
Revenue Snapshot AED M Total Revenues 60 38 97 30 20 50 Year-over-Year • H1 23 revenues normalized excluding one-offs were AED 63m compared to AED 50m for H1 24. 35 • Lower revenues booked in current year due to lower management fees from Goldilocks 2 and other managed funds 8m. Drop in trading and
Slide 6: Revenue Breakdown
Revenue Breakdown Revenue Evolution (AED M) Comments Revenues in current year were AED 13m lower than prior 60 38 97 30 20 50 year when excluding one-off revenues from prior year. Asset Management • Revenues in current year were lower compared to prior due to the impact of revaluation of underlying
Slide 7: Asset Management Segment Performance
Asset Management Segment Performance Revenues Evolution (AED M) Comments Asset Management for H1 2024 was AED 44m compared to 54 33 86 25 19 44 AED 51m H1 2023 when normalized by excluding one-off revenues earned in prior year. Reduction of AED 7m was mainly associated with the performance of the ma
Slide 8: Investment Banking Segment Performance
Investment Banking Segment Performance Revenues Evolution (AED M) Comments Investment banking revenues came in AED 5m lower 6 4 10 4 1 5 compared to prior year on the back of lower trading income and advisory fees. Markets • Trading income came in lower in current year due to a reduction in trading
Slide 9: Operating Expense Breakdown
Operating Expense Breakdown OPEX Evolution (AED M) Comments Firm cost discipline maintained across the Group in H1 2024 35 35 70 25 26 52 with continued decline in operating expenses due to cost optimization initiatives undertaken in 2023 and 2024. • Staff costs in H1 2024 reduced significantly comp
Slide 10: Appendix
Et] SHUAA Appendix
Slide 11: Quarterly P&L
Quarterly P&L H1 Q2 Q1 FY Q4 Q3 Q2 Q1 AED '000 2024 2024 2024 2023 2023 2023 2023 2023 Revenue 50,111 19,927 30,185 161,418 33,270 30,692 37,737 59,719 Total revenues 50,111 19,927 30,185 161,418 33,270 30,692 37,737 59,719 Staff costs (29,202) (13,273) (15,930) (60,857) (19,015) (15,355) (19,210) (
Slide 12: Balance Sheet Summary
Balance Sheet Summary AED '000 30-Jun 31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 2024 2024 2023 2023 2023 2023 2022 2022 2022 2022 Assets Cash and deposits with banks 22,891 32,994 33,178 107,545 103,120 98,275 64,151 107,907 252,983 348,586 Receivables and other debit balances 1