Eurazeo Se · EURONEXT:RF
Eurazeo — Q1 2024 Earnings Presentation
12 slides from Eurazeo's earnings presentation, May 16, 2024
Slide 1: Q1 2024 Trading Update
Q1 2024 TRADING UPDATE May 16, 2024 Confidential information
Slide 2: FPAUM from third parties up +11% LTM
FPAUM FROM THIRD PARTIES UP +11% LTM 2 FEE-PAYING ASSETS UNDER ASSETS UNDER MANAGEMENT MANAGEMENT2 in €bn in €bn +8% 35 +8% 32 24 26 BALANCE +4% 10,6 10,2 SHEET1 BALANCE +1% 7,5 SHEET1 7,4 +11% 22,2 +9% 24,2 THIRD-PARTY 16,3 18,1 THIRD-PARTY Q1 2023 Q1 2024 Q1 2023 Q1 2024 (1) includes commitments f
Slide 3: Third party recurring revenues up +10%
THIRD PARTY RECURRING REVENUES UP +10% 3 Management Fees (in €m) Like-for-like management fees 100 excluding catch-up fees 96 +10% THIRD-PARTY 66 70 BALANCE SHEET 30 30 0% 1 Q1 2023 Q1 2024 1 Restated for exit from Rhone (sold in June 2023) and IMGP base effect and performance fees Q1 2024 REVENUES
Slide 4: Fundraising at €210M in Q1 - confirming positive outlook for 2024
FUNDRAISING AT €210M IN Q1 - 4 CONFIRMING POSITIVE OUTLOOK FOR 2024 Q1 FACTS RICH AND DIVERSIFIED PIPELINE FOR 2024 Institutional LPs : Dynamic underlying commercial activity and Flagship Mid-Large Secondaries Direct Institutional FUNDS Growth Buyout Lending rich pipeline for 2024 No major closings
Slide 5: Progressive pick up in exit activity
PROGRESSIVE PICK UP IN EXIT ACTIVITY 5 (in €M) DEPLOYMENTS REALIZATIONS 876 -53% +20% 414 408 341 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Private Equity Private debt Real Assets Q1 2024 REVENUES - 16.05.2024 Confidential information
Slide 6: Realizations across strategies underlining quality of investments
REALIZATIONS ACROSS STRATEGIES UNDERLINING 6 QUALITY OF INVESTMENTS Illustration of exits YTD (announced and realized) BUYOUT VENTURE / GROWTH Realized in Q1 Announced in Q1 Sponsor deal Trade buyer deal Realized in April Announced in Q1 Trade buyer deal Trade buyer deal Announced in Q1 To be announ
Slide 7: Robust performance of portfolio companies
ROBUST PERFORMANCE OF PORTFOLIO COMPANIES 7 Growth Buyout2 23% REVENUES1 REVENUES1 +19% +9% Net portfolio value Real Assets €8.3bn 12% 60% REVENUES1 6% +7% 1- at constant Eurazeo scope and exchange rate. Weighted average revenue : Portfolio company revenue and EBITDA, proportional to the percentage
Slide 8: Q&A
8 Q&A Q1 2024 REVENUES - 16.05.2024
Slide 9: Selected funds performance
SELECTED FUNDS PERFORMANCE 1 9 Vintage Fund size o/w BS Strategy Fund name % invested Gross MOIC Gross IRR Gross DPI Year (m€) (€m) Private Equity ECIV 2017 2,500 1,712 83% 1.9x 18% 0.7x MLBO ECIII 2014 2,000 1,506 97% 1.8x 12% 1.5x PME IV 2021 1,049 400 43% 1.6x 32% 0.4x SMBO PME III 2017 658 405 9
Slide 10: Financial agenda
FINANCIAL AGENDA 10 July 25, 2024 November 06, 2024 HALF YEAR 2024 3rd QUARTER 2024 RESULTS REVENUES Q1 2024 REVENUES - 16.05.2024 Confidential information
Slide 11: About us
ABOUT US 11 EURAZEO CONTACTS INVESTOR RELATIONS ANALYST COVERAGE Bank of America suspended Pierre Agathe Berenberg Christoph Greulich BERNARDIN Chanoine CM-CIC Alexandre Gérard pbernardin@eurazeo.com achanoine@eurazeo.com +33 (0)1 44 15 16 76 +33 (0)1 44 15 87 68 Degroof Petercam Joren Van Aken Exan
Slide 12: Disclaimer
DISCLAIMER 12 CONFIDENTIALITY This presentation (the “Presentation”) has been prepared by Eurazeo. This presentation may not be distributed, published or reproduced, in full or in part, and the information contained herein must not be released by its recipients to third parties. The recipients of th