Equita Group SpA · MIL:EQUI
Equita Group SpA — H1 2022 Earnings Presentation
34 slides from Equita Group SpA's earnings presentation, Sep 8, 2022
Slide 1: H1'22 Results - Investors Presentation
H1’22 RESULTS - INVESTORS PRESENTATION (8 SEPTEMBER 2022)
Slide 2: Update on H1'22 Initiatives and Recent Developments
Equita, the leading independent Investment Bank in Italy UPDATE ON H1’22 INITIATIVES AND RECENT DEVELOPMENTS IR EQUITA – H1’22 RESULTS | 2
Slide 3: Summary of Key, Recent Developments
Equita, the leading independent Investment Bank in Italy SUMMARY OF KEY, RECENT DEVELOPMENTS Initiatives and Key Achievements 2024 targets involved ▪ Best independent broker in Italy, with top Institutional Revenues generation Consolidation of leadership in Global Investor rankings in Mid & Small Ca
Slide 4: Leadership in Research and Sales & Trading Confirmed
Equita, the leading independent Investment Bank in Italy LEADERSHIP IN RESEARCH AND SALES & TRADING CONFIRMED #1 among Italian 1° independent brokers Research Team Research on Small & Mid-Caps Overall ranking of Brokers 2° 2° 2° 1° 1° 1° #1 by in Italy (2022) (1) number of vote (votes obtained by Eq
Slide 5: Diversification and Growth in Investment Banking
Equita, the leading independent Investment Bank in Italy DIVERSIFICATION AND GROWTH IN INVESTMENT BANKING Expanding the reach of the Increasing standing Investment Banking team in Italy of the «Equita» brand North-East ▪ Recognised as trusted and qualified financial advisor in both Milan mid-sized t
Slide 6: Focus on Growing Illiquid, Alternative Assets
Equita, the leading independent Investment Bank in Italy FOCUS ON GROWING ILLIQUID, ALTERNATIVE ASSETS Equita Private Debt Equita Smart Capital Other strategic Fund II ELTIF initiatives ▪ Second private debt fund managed by ▪ First private equity (alternative PIR) (1) Equita Capital SGR fund investi
Slide 7: Incentive Plan Tied to Shareholders' Remuneration
Equita, the leading independent Investment Bank in Italy INCENTIVE PLAN TIED TO SHAREHOLDERS’ REMUNERATION In April 2022, the Shareholders’ Meeting approved two new incentive plans, one of which addressed to the Top Management and based on phantom shares. Awards are subject to both a minimum Total S
Slide 8: Strengthened Shareholding Structure
Equita, the leading independent Investment Bank in Italy STRENGTHENED SHAREHOLDING STRUCTURE In May 2022 a number of families, entrepreneurs and institutions have entered the share capital of the Company with a 12% minority stake. Today, the ownership structure of Equita is a well-balanced ”ecosyste
Slide 9: A New Sustainable Finance Team to Address Client Needs
Equita, the leading independent Investment Bank in Italy A NEW SUSTAINABLE FINANCE TEAM TO ADDRESS CLIENT NEEDS Over the years Equita has been able to develop significant expertise in sustainable finance: dialogue with investors, advisory in sustainability-linked issues and ESG research reports on l
Slide 10: Ongoing Commitment on ESG Initiatives
Equita, the leading independent Investment Bank in Italy ONGOING COMMITMENT ON ESG INITIATIVES Equita is a credible partner from different standpoints: the strong commitment toward sustainability has led the Group to continuously invest in projects and partnerships aimed to promote financial educati
Slide 11: H1'22 Financial Performance
Equita, the leading independent Investment Bank in Italy H1’22 FINANCIAL PERFORMANCE IR EQUITA – H1’22 RESULTS | 11
Slide 12: Snapshot on H1'22 Consolidated Results
Equita, the leading independent Investment Bank in Italy SNAPSHOT ON H1’22 CONSOLIDATED RESULTS First six months of 2022 represent the best H1 since IPO in terms of Net Revenues and Net Profits pre minorities. Diversification of revenues stream has allowed the Group to record a resilient performance
Slide 13: Global Markets
Equita, the leading independent Investment Bank in Italy GLOBAL MARKETS Trend in Net Revenues (2017 – H1’22) Client-related business 40,7 33,7 (20%) €18.2m in H1’22 (-2%) 30,5 29,9 31,5 (vs € 18.6m in H1’21) 22,9 (19%) 24,8 19,9 20,8 21,5 21,8 Sales & Trading (-1%) 21,4 12,3 9,9 12,0 Client-Driven T
Slide 14: Investment Banking
Equita, the leading independent Investment Bank in Italy INVESTMENT BANKING Trend in Net Revenues (2017 – H1’22) Key Transactions closed in Q2’22 38,7 +35% +48% Rights Issue Senior Unsecured 26,1 28,0 (€185m) Green Bonds (€100m) 24,4 20,2 18,2 18,1 Financial advisor & 17,7 Placement Agent Placement
Slide 15: Alternative Asset Management
Equita, the leading independent Investment Bank in Italy ALTERNATIVE ASSET MANAGEMENT Trend in Net Revenues (2017 – H1’22) Assets under Management (€m) (1) +60% +44% Management Management Fees (1) Fees (1) 11,0 1.105 1.034 980 1.019 944 8,6 49 39 57 61 4,5 100 279 6,5 +27% 654 150 200 337 3,7 +40% 1
Slide 16: Summary Profit & Loss and Focus on Costs
Equita, the leading independent Investment Bank in Italy SUMMARY PROFIT & LOSS AND FOCUS ON COSTS Var % H1 (€ mln) 2019 2020 2021 H1’21 H1’22 ‘22 vs ’21 (€ mln) H1’21 H1’22 Var % Client-related 55.8 67.2 83.5 39.3 46.4 18% (S&T, CD&MM, IB…) Non-client related 2.0 0.4 6.4 6.2 1.8 (72%) Personnel cost
Slide 17: Outlook 2022 & Closing Remarks
Equita, the leading independent Investment Bank in Italy OUTLOOK 2022 & CLOSING REMARKS IR EQUITA – H1’22 RESULTS | 17
Slide 18: Outlook 2022
Equita, the leading independent Investment Bank in Italy OUTLOOK 2022 On the back of the resilient performance recorded in H1’22 and considering expectations for the rest of the year – absent significant market changes – the Board of Directors confirmed its willingness to submit to the next Sharehol
Slide 19: Resilient and Profitable Performance
Equita, the leading independent Investment Bank in Italy RESILIENT AND PROFITABLE PERFORMANCE Since 2008, Equita has been able to significantly diversify its offer, contributing to a more resilient business model, also in difficult market frameworks (crisis of sovereign bonds, Brexit, MiFid II, Covi
Slide 20: Road to 2024: Top Priorities and Targets
Equita, the leading independent Investment Bank in Italy ROAD TO 2024: TOP PRIORITIES AND TARGETS Revenues Net Revenues > €110m in 2024E generation Financial targets to be Revenues breakdown in 2024E achieved organically as Business well as via pro-active ≈35-40% Global Markets / ≈40-45% Investment
Slide 21: Appendix – Company Overview
Equita, the leading independent Investment Bank in Italy APPENDIX – COMPANY OVERVIEW IR EQUITA – H1’22 RESULTS | 21
Slide 22: Our History
Equita, the leading independent Investment Bank in Italy OUR HISTORY Equita was founded in 1973 as one of the first independent Italian merchant banks. Over the years, Equita has been part of several commercial banking groups. This has allowed the company to grow and develop solid institutional rela
Slide 23: Our Business Divisions
Equita, the leading independent Investment Bank in Italy OUR BUSINESS DIVISIONS Four highly synergic divisions, providing 360-degrees service to clients Global Markets ≈€55bn 500+ 1,300+ volumes institutional financial We are the leading independent broker in Italy. We share our knowledge and long-s
Slide 24: Our Leading Positioning
Equita, the leading independent Investment Bank in Italy OUR LEADING POSITIONING At the top of international rankings in the Italian market, in all business areas covered by the Group Global Markets ≈8% ≈8% ≈8% Cash Equity Fixed Income Equity Options 1° (1) 2° (1) 1° (1) market share market share ma
Slide 25: 2017-2021 and H1'22 Financial Performance
Equita, the leading independent Investment Bank in Italy 2017-2021 AND H1’22 FINANCIAL PERFORMANCE FY 2017-2021 Net Revenues H1 Net Revenues and comments €6.2m Directional Trading in H1’21, the +7% +21% (CAGR ’17-’21) (Var ’20-’21) strongest performance since IPO and ▪ Business with clients (ex. Dir
Slide 26: Summary of Business Areas and Targets
Equita, the leading independent Investment Bank in Italy SUMMARY OF BUSINESS AREAS AND TARGETS Global Markets Investment Alternative Asset & Research Banking Management ▪ The largest independent trading floor in Italy and the ▪ Among the leading teams in Italy in ECM, and top 10 in ▪ A unique asset
Slide 27: Balance Sheet
Equita, the leading independent Investment Bank in Italy BALANCE SHEET (€ mln) H1’22 Q1’22 2021 2020 2019 Cash & Cash equivalents 125.3 184.6 136.1 117.2 106.8 Financial assets at fair value with impact on P&L 79.6 52.7 49.2 43.8 74.2 Financial assets at amortized cost 97.1 107.3 91.4 86.1 77.4 Equi
Slide 28: Appendix – Business Plan 2022-2024
Equita, the leading independent Investment Bank in Italy APPENDIX – BUSINESS PLAN 2022-2024 IR EQUITA – H1’22 RESULTS | 28
Slide 29: Road to 2024: Top Priorities and Targets
Equita, the leading independent Investment Bank in Italy ROAD TO 2024: TOP PRIORITIES AND TARGETS Revenues Net Revenues > €110m in 2024E generation Financial targets to be Revenues breakdown in 2024E achieved organically as Business well as via pro-active ≈35-40% Global Markets / ≈40-45% Investment
Slide 30: Focus on ESG Targets
Equita, the leading independent Investment Bank in Italy FOCUS ON ESG TARGETS Correctness and reliability during the relationship; increase cyber Increase customer and financial community 1 security; strengthen clients’ confidence in how the company satisfaction operates; implement sustainability in
Slide 31: 1. Revenues Generation
Equita, the leading independent Investment Bank in Italy 1. REVENUES GENERATION Global Markets & Investment Alternative Research Banking Asset Management Confirm the role as leading independent Consolidate our position as the leading Strengthen our position as one of the main broker in Italy (#1 wit
Slide 32: Business Diversification, Cost Discipline, Net Profits Increase
Equita, the leading independent Investment Bank in Italy 2. BUSINESS DIVERSIFICATION 12% ≈35-40% Global Markets Global Markets 45% ≈40-45% Investment Banking FY’21 Investment Banking FY’24E Alt. Asset Management 43% ≈15-20% Alt. Asset Management 3. DISCIPLINE ON COSTS 4. INCREASE IN NET PROFITS Lowe
Slide 33: 5. Rewarding Shareholders Remuneration
Equita, the leading independent Investment Bank in Italy 5. REWARDING SHAREHOLDERS REMUNERATION Shareholders’ remuneration will continue to be a top priority. Over the plan, Equita targets to distribute more than €50m dividends. Such commitment is affordable considering the 2022E-2024E expected net
Slide 34: Via Turati, 9, Milan, 20121 Tel. +39 02 6204.1 info@equita.eu – www.equita.eu
Via Turati, 9, Milan, 20121 Tel. +39 02 6204.1 info@equita.eu – www.equita.eu