Slide 1: eQ Plc – Result Q1 2024
eQ Plc – Result Q1 2024 Result presentation 23rd of April 2024 1
Slide 2: eQ Group – Key figures
eQ Group – Key figures MEUR 1-3/24 1-3/23 Change 1-12/23 Net revenue 16.5 17.7 -7 % 70.9 Operating profit 8.8 10.0 -12 % 39.7 Profit for the period 7.0 7.9 -12 % 31.5 Earnings per share (EUR) 0.17 0.20 -12 % 0.78 Cost/income-ratio. % 46.6 43.6 7% 43.8 Liquid assets 34.9 51.6 -32 % 33.4 Investments i
Slide 3: eQ Group – Rolling 12 months
10,0 20,0 30,0 40,0 50,0 60,0 70,0 80,0 90,0 0,0 -10,0 100,0 Q4/13 23/04/2024 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Asset Management Q3/16 Group Administration Q4/16 eQ Plc Result Q1 2024 Q1/17 Q2/17 Q3/17 Q4/17 rolling 12 months, MEUR Q1/18 Q2/18 Net revenue development, Q3/18
Slide 4: eQ Group – Balance sheet
eQ Group – Balance sheet Liquid assets ASSETS (MEUR) LIABILITIES AND EQUITY (MEUR) 3/2024 12/2023 3/2024 12/2023 34.9 MEUR Liquid assets 0.1 0.1 Other liabilities 44.0 6.9 Claims on credit institutions 24.2 22.8 Accruals and deferred income 7.2 12.9 Private equity and real Lease liabilities 4.7 5.0
Slide 5: Asset Management
Asset Management 23/04/2024 eQ Plc Result Q1 2024 5
Slide 6: Asset Management – Income statement
Asset Management – Income statement MEUR 1-3/24 1-3/23 Change 1-12/23 NET REVENUE 15.1 17.1 -11 % 66.9 Personnel expenses -5.2 -5.2 0% -21.1 Other administrative expenses -0.5 -0.5 1% -1.9 Depreciation -0.2 -0.3 -10 % -1.0 Other operating expenses -0.4 -0.3 2% -1.4 OPERATING PROFIT 8.9 10.7 -18 % 41
Slide 7: Asset Management – Fee income change
Asset Management – Fee income change Asset management fee income change -1.9 MEUR / -11 % Traditional Real Estate -0.2 MEUR / 8 % Private Equity -2.0 MEUR / -21 % -0.1 MEUR / -1 % 23/04/2024 eQ Plc Result Q1 2024 7
Slide 8: Asset Management – Fee income
Asset Management – Fee income MEUR 1-3/2024 1-3/2023 Change 1-12/2023 Management fees Traditional asset management 2.3 2.1 10 % 8.8 Real estate asset management 7.2 9.2 -21 % 35.6 Private equity asset management 4.4 4.2 5% 17.6 Management fees total 14.0 15.6 -10 % 62.0 Performance based fees Tradit
Slide 9: Asset Management – Rolling 12 months
10 20 30 40 60 70 80 50 0 Q4/13 Q1/14 23/04/2024 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 eQ Plc Result Q1 2024 Q2/17 Q3/17 Q4/17 Q1/18 rolling 12 months, MEUR Q2/18 Q3/18 Net revenue development, Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21
Slide 10: Assets under management
Assets under management Assets under management development, bn. EUR Assets under management split 3/2024 12 Private Equity asset Q1 2024 growth 236 MEUR / 2 % management Private Traditional: Traditional asset management programmes Equity: 38 % funds 10 41 % 1.0 1.0 2.1 Traditional asset management
Slide 11: Asset Management – Traditional funds
Asset Management – Traditional funds Gross Return 28.3.2024 3 months 3 years p.a. 5 years p.a. Morning- Funds Return Comp. Diff. Return Comp. Diff. Return Comp. Diff. star eQ Finland -fund Fixed income Funds received the award eQ Euro Short Term 0,94 % 1,44 % 0,80 % eQ Floating Rate 1,31 % 0,98 % 0,
Slide 12: Asset Management – Real estate funds
Asset Management – Real estate funds eQ Community Properties eQ Commercial Properties eQ Residential • Invests in modern care properties and social • Invests in commercial real estate • Closed-end fund only for professional investors – infrastructure properties invests in residential properties • Av
Slide 13: Asset Management – Private Equity
Asset Management – Private Equity AUM total 3.1 bn. EUR Fundraising, MEUR Vintage Fund Size Stage 500 Fund of funds – Northern Europe 2024 eQ PE XVI North 190 MEUR 2nd close 450 2022 eQ PE XIV North 288 MEUR Fully invested 2020 eQ PE XII North 205 MEUR Fully invested 2018 eQ PE X North 175 MEUR Full
Slide 14: Corporate Finance
Corporate Finance 23/04/2024 eQ Plc Result Q1 2024 14
Slide 15: Corporate Finance – Latest transactions
Corporate Finance – Latest transactions M&A Transactions and Equity markets Real estate transactions 23/04/2024 eQ Plc Result Q1 2024 15
Slide 16: Corporate Finance – Key figures
Corporate Finance – Key figures MEUR 1-3/24 1-3/23 Change 1-12/23 NET REVENUE 0.8 0.5 79% 3.9 Personnel expenses -0.5 -0.6 -15 % -2.6 Other administrative expenses -0.1 -0.1 -1 % -0.3 Depreciation -0.0 -0.0 -5 % -0.2 Other operating expenses -0.0 -0.0 17 % -0.1 OPERATING PROFIT 0.1 -0.4 119% 0.7 Cos
Slide 17: Investments
Investments 23/04/2024 eQ Plc Result Q1 2024 17
Slide 18: Investments – Key figures
Investments – Key figures MEUR 1-3/24 1-3/23 1-12/23 • During the period under Returned capital (excl. profit) 0.2 0.4 1.4 review eQ Plc made a EUR Distribution of profits 0.0 0.3 0.8 1.0 million investment Capital calls 0.1 0.4 -2.3 commitment in the Net cash flow 0.1 0.3 -0.2 eQ PE XVI North fund.
Slide 19: eQ’s share, outlook and summary
eQ’s share, outlook and summary 23/04/2024 eQ Plc Result Q1 2024 19
Slide 20: Share price development and market cap
Share price development and market cap 35,00 • The closing price of eQ Plc’s 30,00 share on 31.3.2024 was EUR 13.70 (EUR 15.58 on 31 Dec. 25,00 2023). The market capitalization of the company was EUR 564.8 20,00 million (EUR 634.8 million). • During the period, 269 931 15,00 shares were traded on Na
Slide 21: Shareholders 31 March 2024
Shareholders 31 March 2024 Shares % of shares The number of shareholders 1 Fennogens Investments S.A. 8 087 605 19.62 2 Rettig Group Oy Ab 6 331 706 15.36 9 000 3 Chilla Capital S.A. 6 215 904 15.08 8 500 8 376 4 Teamet Oy 4 250 000 10.31 8 277 8 256 5 Oy Cevante Ab 1 419 063 3.44 8 000 7 883 6 Faze
Slide 22: Outlook (unchanged)
Outlook (unchanged) The asset management market in Finland has grown strongly, and eQ’s growth has outpaced the market. We estimate that the long-term outlook for growth in the asset management market and for eQ in Finland is still good. For eQ’s real estate funds, 2023 was a difficult year due to a
Slide 23: Summary
Summary MEUR 1-3/24 1-3/23 Change 1-12/23 Net revenue 16.5 17.7 -7 % 70.9 Operating profit 8.8 10.0 -12 % 39.7 Profit for the period 7.0 7.9 -12 % 31.5 Earnings per share (EUR) 0.17 0.20 -12 % 0.78 Cost/income-ratio. % 46.6 43.6 7% 43.8 Liquid assets 34.9 51.6 -32 % 33.4 Investments in PE and RE fun
Slide 24: eQ Plc 2024 half year report will be published on 6 August 2024
eQ Plc 2024 half year report will be published on th Tuesday 6 of August 2024 23/04/2024 eQ Plc Result Q1 2024 24