Equita Group Spa · MIL:EQUI
Equita Group Spa — H1 2023 Earnings Presentation
18 slides from Equita Group Spa's earnings presentation, Sep 7, 2023
Slide 1: EQUITA Group 1H'23 Financial Results
EQUITA Group 1H’23 Financial Results September 7th, 2023 1
Slide 2: Agenda
Agenda 1. Market Update and 1H’23 Achievements 2. Financial Performance in 1H’23 3. Outlook 2023 and Closing Remarks 4. Appendix
Slide 3: Market Update and 1H'23 Achievements
Market Update and 1H’23 Achievements
Slide 4: Challenging Trends due to Rising Concerns about the Future
Challenging Trends due to Rising Concerns about the Future THIRD PARTIES BROKERED VOLUMES IN ITALY (1) EQUITY – EURONEXT MILAN EQUITY – EURONEXT GROWTH MILAN (EGM) FIXED INCOME (MOT) (volumes, €bn) (volumes, €bn) (volumes., €bn) Var 1H 22-23 +90% Var 1H 22-23 Var 1H 22-23 (8%) Unavailable (35%) 204
Slide 5: Leadership in Financial and Capital Markets confirmed
Leadership in Financial and Capital Markets confirmed 1° (1) 2° (1) 2° (1) 2° (1) Italy | Trading Italy | Sales Italy | Best Italy | Corporate At the Top of International 2023 & Execution 2023 2023 Research Team 2023 Access Rankings for many years Most voted broker in Italy in the 2023 Institutional
Slide 6: Snapshot on First-Half 2023 Consolidated Results
Snapshot on First-Half 2023 Consolidated Results ⁞ KEY FINANCIAL HIGHLIGHTS €43m €8m 23% 5.4x 195 (-11% YoY) (1) (-22% YoY) (1) (+10% YoY) Net Net Return on Tangible IFR # of Professionals Revenues Profits Equity (ROTE) Ratio (2) (end of period) +14% in Net Revenues and +8% YoY in Net Profits exclud
Slide 7: Comparison between EQUITA and the Main International Peers
Comparison between EQUITA and the Main International Peers (Jan 1 - Jun 30, Net Revenues o/w Global o/w M&A & o/w Capital o/w Asset Net Profits 2023) Var % Markets Advisory Markets Management Var % EQUITA (11%) 5% (63%) 101% 8% (22%) Peer involved in traditional banking Peer 1 activities (growth 18%
Slide 8: Financial Performance in 1H'23
Financial Performance in 1H’23
Slide 9: Divisional Performance
Divisional Performance ⁞ TREND IN NET REVENUES SINCE IPO (€M) ⁞ LAST QUARTER AND HALF-YEAR NET REVENUES (€M) 40,8 37,7 Var 1H YoY Growth in fixed income, derivatives 31,5 33,8 +5% and certificates, more than 30,5 29,9 Var 2Q YoY compensating lower trading Markets (3%) Global 22,9 Var ’21-’22 21,7 20
Slide 10: P&L & Focus on Costs
P&L & Focus on Costs Var % H1 (€ mln) 2020 2021 2022 1H’22 1H’23 ‘23 vs ’22 (€ mln) 1H’22 1H’23 Var % Client-related 67.2 83.5 83.0 46.1 39.0 (15%) (S&T, CD&MM, IB…) Non-client related 0.4 6.4 2.5 1.8 3.1 76% Personnel costs (22.5) (20.0) (11%) (Directional Trading) Comp/Revenues % (46.7%) (46.8%) I
Slide 11: Outlook 2023 and Closing Remarks
Outlook 2023 and Closing Remarks
Slide 12: A lot of Initiatives and Investments Made, in line with the Business Plan
A lot of Initiatives and Investments Made, in line with the Business Plan ▪ Diversification of the product offering in the Global Markets (bonds, certificates, derivatives, US equities…) Global Markets ▪ Expansion of the research coverage, with an increasing number of foreign listed companies and Re
Slide 13: Ongoing Simplification to Ease Access To Capital Markets
Ongoing Simplification to Ease Access To Capital Markets Commitment at Commitment at What’s European level Italian level next? Publication of the “Libro Verde” and Further simplification of consultations with market players, documentation legal experts and associations ▪ Prospectus exemption on seco
Slide 14: Considerations about the Future
Considerations about the Future Macroeconomic scenario in the next two years still uncertain ▪ Global environment affected by war, political tensions, inflation, possible recession ▪ Decrease in trading volumes, especially in Mitigants: ongoing mid-small caps simplification to ease access Market sce
Slide 15: Outlook 2023
Outlook 2023 On the back of the Net Profits recorded in 1H’23 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 Shareholders’ Meeting a dividend proposal not lower than €0.30 per share in
Slide 16: Appendix
Appendix EZEQUITA
Slide 17: Balance Sheet
Balance Sheet Strong balance sheet and capital ratios confirmed (€m) 1H’23 1Q’23 FY’22 1H’22 FY’21 FY’20 Cash & Cash equivalents 74.0 106.3 107.9 125.3 136.1 117.2 Financial assets at fair value with impact on P&L 95.5 90.4 111.7 79.6 49.2 43.8 Financial assets at amortized cost 144.6 128.0 99.6 97.
Slide 18: www.equita.eu
www.equita.eu =EQUITA