Shuaa Capital (p.s.c) · DFM:SHUAA
Shuaa Capital (p.s.c) — SHUAA Capital — Q3 2024 Earnings Presentation
11 slides from Shuaa Capital (p.s.c)'s earnings presentation, Nov 14, 2024
Slide 1: SHUAA Earnings Presentation Q3 2024
SHUAA Earnings Presentation Q3 2024 14 November 2024
Slide 2: Executive Summary
Executive Summary • The Group reported a net loss of AED 22 million and AED 138 million attributable to the owners of the parent for Q3 2024 and YTD 2024, highlighting a gradual slowdown in impairments of legacy investments with each quarter. Financial • Adjusted operating income for September YTD 2
Slide 3: Financial Summary
Financial Summary Sept YTD 2024 Financial Performance Comments Income Statement (AED Mn) YTD-24 YTD-23 Y/Y Change Q3-24 Q2-24 Q/Q Change Adjusted net operating income is AED 4 million unfavouarable Management and Performance Fees 62.6 71.1 (8.5) 18.4 19.0 (0.6) compared to the previous year, after n
Slide 4: Key Financial Highlights
Key Financial Highlights AED M Revenue Operating Income 60 38 31 128 69 19 20 30 CIR 94% 106% 115% 104% 111% 125% 125% 94% 2 40 43 36 28 88 6 69 4 2 5 (2) 2 (3) 1 31 31 30 (4) (4) (8) 25 19 20 (10) (5) (5) Q1-23 Q2-23 Q3-23 YTD-23 YTD-24 Q3-24 Q2-24 Q1-24 (8) Run-Rate One-offs Q1-23 Q2-23 Q3-23 YTD-
Slide 5: Revenue Snapshot
Revenue Snapshot AED M Total Revenues 60 38 31 128 69 19 20 30 Year-over-Year • YTD 2024 revenues were AED 69m compared to AED 88m in prior year after normalizing for one-off items. 40 • Lower revenues booked in current year due to lower management fees from managed 2 funds 16m. 12 2 • Drop in tradi
Slide 6: Asset Management Segment Performance
Asset Management Segment Performance Revenue Evolution (AED M) Comments Asset Management for YTD 2024 was AED 62m compared 54 33 28 115 62 18 19 25 to AED 75m YTD 2023 when normalized by excluding one- off revenues earned in prior year. Reduction of AED 13m was mainly associated with the lower manag
Slide 7: Investment Banking Segment Performance
Investment Banking Segment Performance Revenue Evolution (AED M) Comments Investment banking revenues came in AED 7m lower compared to prior year on the back of lower trading income 6 4 2 12 5 1 1 4 and advisory fees. Markets • Trading income came in lower in current year due to a reduction in tradi
Slide 8: Operating Expense Breakdown
Operating Expense Breakdown OPEX Evolution (AED M) 1 Comments Firm cost discipline maintained across the Group in 2024 with continued decline in operating expenses due to cost optimization initiatives undertaken in 2023 and 2024. 30 33 29 92 77 24 25 28 • Staff costs in YTD 2024 reduced significantl
Slide 9: Appendix
Et] SHUAA Appendix
Slide 10: Quarterly P&L
Quarterly P&L YTD Q3 Q2 Q1 YTD Q3 Q2 Q1 AED '000 2024 2024 2024 2024 2023 2023 2023 2023 Revenue 69,312 19,200 19,927 30,185 128,148 30,692 37,737 59,719 Total revenues 69,312 19,200 19,927 30,185 128,148 30,692 37,737 59,719 General and administrative expenses (75,090) (26,777) (24,380) (23,932) (7
Slide 11: Balance Sheet Summary
Balance Sheet Summary AED '000 30-Sep 30-Jun 31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 31-Dec 30-Sep 30-Jun 31-Mar 2024 2024 2024 2023 2023 2023 2023 2022 2022 2022 2022 Assets Cash and deposits with banks 30,922 22,891 32,994 33,178 107,545 103,120 98,275 64,151 107,907 252,983 348,586 Receivables and oth