Slide 1: Half-Year Report 1–6 2024
Continued growth of assets under management and, fee profit again 1–6 | 2024 at record high Half-Year Pia Kåll Report 8 August 2024
Slide 2: Disclaimer
Disclaimer ✓ The following applies to this presentation, the related oral presentation by either CapMan Plc (hereinafter the "Company“ and together with its subsidiaries the “CapMan Group”) or a representative of the Company as well as the subsequent Q&A sessions. ✓ This presentation contains certai
Slide 3: Strong growth in assets under management and profit
Strong growth in assets under management and profit €5.8bn €36.7m €14.4m Assets under management Turnover Comparable EBIT +16% +16% +205%
Slide 4: We are today building the society we want to see in 2040
Our vision is to become the most responsible private asset company in the Nordics We are today building the society we want to see in 2040
Slide 5: CapMan's impact on the Nordic economies and societies is significant
CapMan’s impact on the Nordic economies and societies is significant Transitional Responsibly Human-centric portfolio managed Natural Real estate capital companies 222 € 3,0 bn 44 € 1,7 bn 240 000 ha € 0,7 bn properties AUM portfolio companies AUM land AUM 10 300 1,3 m m2 13 200 € 2,4 bn 1,5 mt CO2e
Slide 6: CapMan creates shareholder value through its management company and service business
CapMan creates shareholder value through its management company and service business, as well as, returns on balance sheet investments MANAGEMENT COMPANY AND SERVICE BUSINESS INVESTMENT BUSINESS PRIVATE PROCURE- INFRA- NATURAL REAL ESTATE EQUITY & WEALTH MENT STRUCTURE CAPITAL BALANCE SHEET CREDIT S
Slide 7: 1-6 2024 key financials
1-6 2024 key financials MANAGEMENT COMPANY AND SERVICE BUSINESS INVESTMENT BUSINESS Fee profit Carried interest Investment returns 1-6 2024 1-6 2024 Fair value change 1-6 2024 € 7.0m € 3.8m € 3.5m /+2% Fair value of investments Growth 1-6 2024 Growth 1-6 2024 30.6.2024 + € 2.3m /+50% + € 1.1m / +38%
Slide 8: Turnover and profitability development
Turnover and profitability development €m Turnover (LTM) €m Fee profit and carried interest (LTM) 70 20 65 60 Carried interest 55 15 50 45 Carried interest 40 35 10 30 25 20 Fee income Fee profit 5 15 10% CAGR 17% CAGR 10 5 0 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 9: Balance sheet investment allocation
Balance sheet investment allocation Balance sheet investments 30.6.2024, €m € 49 million in cash, € 162 m in private asset funds Real Estate Cash 39 49 (18%) (23%) € 80 m remaining commitments into funds Other 1 Well diversified portfolio between asset classes (1%) € 211 m and vintage years 59 (26%)
Slide 10: Fair value changes of balance sheet investments
Fair value changes of balance sheet investments €m Fair value changes 2020 - 2023 €m Fair value changes 1-6 2024 vs. 1-6 2023 40 25.3 % 4 26.9 % 35 3 30 2 25 3,5 +2.2% 20 1 Own funds: +€3.5m (+3.1%) 33,9 36,5 External: –€6.2m (-10.9%) 15 0 10 Own funds: +€5.5m (+5.1%) 3.2 % -1 External: -€1.9m (-3.8
Slide 11: Growth in all earnings components contribute to +200% EBIT growth
Growth in all earnings components contribute to +200% EBIT growth 1-6 2024 1-6 2023 comparable EBIT comparable EBIT € millions 14,4 3,5 10,8 3,8 7,4 2,8 -2,8 4,7 7,0 Own 4,7 Fee profit Carried EBIT excl. FV changes Comparable Fee profit Carry EBIT excl. FV changes Comparable interest FV changes EBIT
Slide 12: CapMan maintains a solid balance sheet with good liquidity
CapMan maintains a solid balance sheet with good liquidity Equity Equity ratio €145,0m 50,7% Cash & bank Undrawn credit limit €48,9m €20,0m STRONG LIQUIDITY FINANCIAL STABILITY for investments and to to provide security in support growth of fee business all market situations 1 2
Slide 13: We continue to implement our growth strategy
We continue to implement our growth strategy Building on CapMan’s …enables growth of assets …and shareholder value competitive advantages… under management… creation 1. Deliver top investment 4. Preferred Nordic partner returns through active for institutional fund Fee profit growth value creation i
Slide 14: Good activity in both new investments and exits
We have continued with good activity in both new investments and exits despite overall slower transaction market Annual new investments 2014 – H1 2024 Annual exits 2014 – H1 2024 Infrastructure, Private Equity, Credit Real Estate Infrastructure, Private Equity, Credit Real Estate 24 12 11 20 4 9 14
Slide 15: Successful execution of growth; new investment area, final closings, new product
Successful execution of growth; new investment area through acquisition, final closings of two flagship funds, and new product launched • Final close at €375m in • Final close at hard-cap April 2024 €130m in April 2024 CapMan Nordic • Double the size of the CapMan • Fast fundraising process Infrastr
Slide 16: CapMan's investor base continues to grow and internationalize
CapMan’s investor base continues to grow and internationalize AUM by geography AUM by investor type New capital raised 30.6.2024 30.6.2024 by geography 1-6 2024 1% 2% 5% 3% 8% 6% 10% 9% 12% 34% 36% 17% €5.8bn 51% ~440 LPs ~ €205m 12% 27% 14% 18% 35% Nordics North America Other Pension funds Fund of
Slide 17: Assets under management on record level €5.8 billion
Assets under management on record level € 5.8 billion after successful fundraisings and acquisition Assets under management, € billion Ongoing and planned fundraisings 2024-27, € million TARGET 11 € 10bn 1000 Target 2024-27 m€ 10 Raised m€ 9 750 8 7 € 5.8bn 500 6 5 375 4 € 3bn 3 130 2 1 Resi Hotels
Slide 18: CapMan's long-term financial objectives
CapMan’s long-term financial objectives Growth of the Return on equity Equity ratio Distribution policy Management Company and Services business* CapMan’s policy is to pay sustainable distributions that >15% >20% >50% grow over time Average annual growth objective 2019-2023 CAGR: 2019-2023 on averag
Slide 19: Outlook estimate for 2024
Outlook estimate for 2024 Provided 7 February 2024 • CapMan’s objective is to improve results in the long term, taking into consideration annual fluctuations related to the nature of the business. Carried interest income from funds managed by CapMan and the return on CapMan’s investments have a subs
Slide 20: Q&A
Q&A Pia Kåll Atte Rissanen CEO CFO
Slide 21: Offices
HELSINKI STOCKHOLM COPENHAGEN OSLO LONDON LUXEMBOURG JYVÄSKYLÄ