Alantra Partners Sa · BME:ALNT
Alantra Partners Sa — FY2018 Earnings Presentation
45 slides from Alantra Partners Sa's earnings presentation, Feb 28, 2019
Slide 1: 2018 FY Results Presentation
2018 FY Results Presentation 28th February 2019
Slide 2: Index
Index 1. Executive Summary 2. Financials 3. 2018 highlights in Asset Management 4. 2018 highlights in Investment Banking 5. Annex Private and Confidential 2
Slide 3: 1. Executive Summary
1. Executive Summary ALANTRA
Slide 4: I. Financial Statements for 2018 FY
1. Executive summary I. Financial Statements for 2018 FY Net revenues reach €200.9Mn (+47.6%), growing in both Investment Banking and Asset Management divisions ▪ Net revenues from IB and AM divisions grow by 47.0% and 50.5% respectively ▪ The AM division continues its growth both in management fees
Slide 5: II. A year of strategic alliances and intense activity in Asset Management
1. Executive summary II. A year of strategic alliances and intense activity in Asset Management 2018 AM Adding new highlights: +€8.8Bn +60 +6 investment strategies Adding new asset class a strategic professionals New European Fund of funds partnership AUM’s1 AM offices Co-investment Infrastructure w
Slide 6: III. Relevant corporate and business achievements in the Investment Banking division
1. Executive summary III. Relevant corporate and business achievements in the Investment Banking division 2018 IB Full integration of the More than 70 IB professionals joined Alantra highlights 202 Swiss, French and in 2018, with a significant improvement in deals Italian partners both our sector an
Slide 7: 2. Financials
2. Financials ALANTRA
Slide 8: I. Net revenues reach €200.9Mn
2. Financials I. Net revenues reach €200.9Mn Net revenues 2018 FY (€’000) Net revenues by division 2018 FY (€’000) Breakdown of AM revenues by type (€’000) 64,942 +47.6% 200,890 Performance 200,890 fees Total AM 1,188 +132.8% 136,127 +50.5% 43,152 64,942 32,239 136,127 1,276 13,848 43,152 Total IB 1
Slide 9: II. Operating Expenses have grown by 41.3%, reaching €140.0Mn
2. Financials II. Operating Expenses have grown by 41.3%, reaching €140.0Mn Operating expenses 2018 FY (€’000) Breakdown of personnel expenses 2018 FY (€’000) +41.3% 140,002 +42.4% 101,311 38,691 99,084 71,145 Other opex1 52,553 27,939 +38.5% Fixed 36,477 +44.1% 101,311 71,145 Personnel Variable 48,
Slide 10: III. Net profit of €35.0 Mn (+15.6% vs. last year)
2. Financials III. Net profit of €35.0 Mn (+15.6% vs. last year) 2018 FY net profit breakdown (€’000) Evolution of the net profit attr. to the parent (€’000) +15.6% 5,638 +16.9% (1,456) 35,031 35,031 30,849 30,316 30,849 2017 FY 26,388 2018 FY +39.2% 5,638 4,050 Fee business Portfolio Other result N
Slide 11: IV. Other items of the income statement
2. Financials IV. Other items of the income statement Bridge from operating profit to net profit 2018 FY (€’000) 60,890 2,453 (824) (14,083) (13,405) 35,031 Operating Profit Net Finance Result of Non-controlling Income Tax Net Profit attr. to Income companies Interests the parent registered by the c
Slide 12: V. The Group maintains its strong balance sheet as of 31st December 2018
2. Financials V. The Group maintains its strong balance sheet as of 31st December 2018 €’000 859 137,408 320,857 320,857 47,626 107,602 12,141 76,782 202,942 10,313 183,449 81,177 102,272 €29,790 – Portfolio €9,949 – Monetary fund €7,203 – Other non current financial assets €683 – Other financial as
Slide 13: VI. Strong shareholder remuneration policy
2. Financials VI. Strong shareholder remuneration policy ▪ An interim dividend on 2018 profit of 0.50 euros per share was paid on December 17th, 2018 ▪ The Board will propose to the Shareholders’ Annual General Meeting, (to be held on 29 April), the full distribution of its net profit to shareholder
Slide 14: VII. Significantly outperforming both Ibex 35 and Ibex small caps in 2018
2. Financials VII. Significantly outperforming both Ibex 35 and Ibex small caps in 2018 Evolution of Alantra’s share price vs comparable indexes during 2018 Dividend payment 0.37 H1 2018 results Q3 2018 results Q1 2018 results euros per share (26/07/2018) (25/10/2018) (26/04/2018) 2017 results and d
Slide 15: 3. 2018 highlights in Asset Management
3. 2018 highlights in Asset Management 15
Slide 16: 3.1 Corporate Highlights
3.1 Corporate Highlights 16 ALANTRA
Slide 17: I. Partnership with Access Capital Partners
3. 2018 highlights in Asset I. Partnership with Access Capital Partners Management 3.1 Corporate Highlights ▪ With this transaction, Alantra adds fund of funds, co-investment and secondaries strategies to its existing direct investment activities ▪ Through the partnership with ACP, Alantra will now
Slide 18: II. Alantra Wealth Management creates a joint venture with Mutua Madrileña
3. 2018 highlights in Asset II. Alantra Wealth Management creates a joint venture with Mutua Madrileña Management 3.1 Corporate Highlights ▪ Alantra, Alantra’s Wealth Management executive partners and Grupo Mutua have agreed to the acquisition by Grupo Mutua of 50.01% of the share capital of Alantra
Slide 19: III. Alantra Private Equity teams with Partners Group to launch secondary vehicle
III. Alantra Private Equity teams with Partners Group to launch secondary 3. 2018 highlights in Asset vehicle for Alantra PEF II portfolio Management 3.1 Corporate Highlights ▪ The transaction entailed the transfer of the remaining PEF II portfolio assets to a new secondary vehicle, led by Partners
Slide 20: 3.2 Activity Highlights in AM
3.2 Activity Highlights in AM 20
Slide 21: I. Alantra Asset Management: a pan-European diversified asset manager
3. 2018 highlights in Asset I. Alantra Asset Management: a pan-European diversified asset manager Management 3.2 Activity Highlights in AM Alantra offers its clients unique access to a wide range of investment strategies (direct investments, fund of funds, co-investments and secondaries) in six high
Slide 22: II. Direct investments: Fee earning AUM's as of 31st December 2018
3. 2018 highlights in Asset II. Direct investments: Fee earning AUM’s as of 31st December 2018 Management 3.2 Activity Highlights in AM Fee earning AUM’s of direct investments Real Estate 148 Private Debt 278 + €233Mn Active Funds Fee earning AUM’s (vs. Dec 2017) 830 Private Equity 729 Total fee-ear
Slide 23: III. Strong activity and market recognition in Private Equity
3. 2018 highlights in Asset III. Strong activity and market recognition in Private Equity Management 3.2 Activity Highlights in AM ▪ 5 successful investments and 1 add-on by Alantra PEF III, having invested 46%1 of the fund until now in 6 portfolio investees, representing 53% of total PEF III fundin
Slide 24: IV. Stable growth in AUM's for both EQMC and QMC strategies
3. 2018 highlights in Asset IV. Stable growth in AUM’s for both EQMC and QMC strategies Management 3.2 Activity Highlights in AM As of 31st Dec. 2018, AUM’s in active funds reached €943 Mn, representing 15% increase versus 31st Dec. 2017 (+€121Mn) AUM’s 2018 AUM’s Funds Performance2 since Return 201
Slide 25: V. Very successful year for Private Debt
3. 2018 highlights in Asset V. Very successful year for Private Debt Management 3.2 Activity Highlights in AM During 2018, the Private Debt team executed 6 new investments, 2 add-ons and 3 full divestments Investments Divestments Investment in the leading company in the sector of Jan bathroom furnit
Slide 26: VI. A year of delivery for the RE team
3. 2018 highlights in Asset VI. A year of delivery for the RE team Management 3.2 Activity Highlights in AM ▪ During 2018, Alantra REIM has invested in five RE assets, with an aggregate investment of c. €100Mn ▪ 4 out of the 5 investments have been made in accordance to the strategic target of build
Slide 27: 4. 2018 highlights in Investment Banking
4. 2018 highlights in Investment Banking 27
Slide 28: 4.1 Corporate Highlights
4.1 Corporate Highlights 28 ALANTRA
Slide 29: I. Expanding and reinforcing our global footprint
4. 2018 highlights in Investment I. Expanding and reinforcing our global footprint Banking 4.1 Corporate highlights Alantra expands its global technology practice by Alantra strengthens its Chinese presence with four adding a specialized team in San Francisco new senior professionals ▪ Enterprise So
Slide 30: II. Creating the European leader in banking portfolio advisory
4. 2018 highlights in Investment II. Creating the European leader in banking portfolio advisory Banking 4.1 Corporate highlights Alantra has acquired the Portfolio Solutions Group (“PSG”) business from KPMG UK, which advises financial institutions and investors in developing and implementing strateg
Slide 31: III. Incorporation of a capital markets team in Italy
4. 2018 highlights in Investment III. Incorporation of a capital markets team in Italy Banking 4.1 Corporate highlights Italy starts a new Equity Capital Markets activity and strengthens the team with new key recruitments The team will provide Italian corporates and institutional investors the follo
Slide 32: 4.2 Integrations
4.2 Integrations 32 ALANTRA
Slide 33: I. Integrations
4. 2018 highlights in Investment I. Integrations Banking The Transaction ▪ On July 25, Alantra’s shareholders approved a capital increase via contribution in kind, whereby the Swiss, French and Italian Alantra partners contributed their stakes in the relevant Alantra subsidiaries for 1,458,852 Alant
Slide 34: 4.3 Activity highlights in IB
4.3 Activity highlights in IB 34
Slide 35: I. Well balanced deal volume across products and sectors
4. 2018 highlights in Investment I. Well balanced deal volume across products and sectors Banking 4.3 Activity highlights in IB 202 deals advised in 2018 (+9% vs. 2017) Deals by product1 Deals by sector3 FIFTH INDEPENDENT ADVISOR EUROPE (DEALS) Mergermarket’s Europe Ranking by deal count M&A FY 2018
Slide 36: II. 2018 Transaction Highlights (i)
4. 2018 highlights in Investment II. 2018 Transaction Highlights (i) Banking 4.3 Activity highlights in IB 2018 2018 2018 2018 2018 2018 Advisor to the Swiss company Aebi Schmidt Group (ASH), a Advisor to ParkJockey, a US- Advisor to the private equity leading provider of products Alantra advises Su
Slide 37: III. 2018 Transaction Highlights (ii)
4. 2018 highlights in Investment III. 2018 Transaction Highlights (ii) Banking 4.3 Activity highlights in IB 2018 2018 2018 2018 Advisor to Spectris plc, UK N+1 Singer has acted as Joint Alantra advises Banco Sabadell Advisor to Henkel in the listed manufacturer of Bookrunner to PRS Reit in on the s
Slide 38: 5. Annex
5. Annex 38 ALANTRA
Slide 39: I. Consolidated income statement for 2018 FY
5. Annex I. Consolidated income statement for 2018 FY 31/12/2018 31/12/2017 % 134,760 91,699 47.0% 64,942 43,152 50.5% 32,703 29,304 11.6% 32,239 13,848 132.8% 1,188 1,276 (6.9%) 200,890 136,127 47.6% - (101,311) (71,145) 42.4% (52,553) (36,477) 44.1% (48,758) (34,668) 40.6% (35,831) (27,114) 32.1%
Slide 40: II. Consolidated balance sheet for 2018 FY
5. Annex II. Consolidated balance sheet for 2018 FY ASSETS LIABILITIES AND EQUITY Private and Confidential 40
Slide 41: III. Glossary (i)
5. Annex III. Glossary (i) Identified business segments “Business Segments” refer to each operating segment or component identified and classified as such by Alantra that (a) engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating t
Slide 42: III. Glossary (ii)
5. Annex III. Glossary (ii) “Fee Business” is defined as the group or aggregate of the Investment Banking, Asset Management and Corporate segments which, as a whole, are referred to as the service provision businesses, whether those services be financial advisory or management, whose revenues materi
Slide 43: III. Glossary (iii)
5. Annex III. Glossary (iii) “Recurring Net Profit”. The profit derived from the Group's recurring or ordinary activities, i.e., that generated by the Investment Banking, Asset Management and Portfolio segments. ▪ Recurring Net Profit is the sum of Fee Business Net Profit and Portfolio Net Profit. ▪
Slide 44: IV. Disclaimer
5. Annex IV. Disclaimer Alantra Partners, S.A. publishes this presentation solely and exclusively for information purposes. This presentation does not constitute an offer to subscribe, buy or sell securities issued by Alantra Partners, S.A., or any other securities in any jurisdiction. Any informati
Slide 45: Contact
Contact Philipp Krohn Investor Relations Tel.: +34 917 458 484 investors@alantra.com I www.alantra.com Private and Confidential 45