Alpha Trust Holdings S.a. · ATHEX:ATRUST
Alpha Trust — Investor Presentation (May 2024)
26 slides from Alpha Trust's investor presentation, May 28, 2024
Slide 1: Annual Analysts Presentation
Annual Analysts Presentation May 28, 2024 alphatrust Ac ALPHA TRUST HOLDINGS S.A. Tax Identification Number: 094317734 Athens Tax Office, General Commercial Registry: 882401000
Slide 2: Disclaimer
DISCLAIMER This presentation is for informational purposes only and may not be reproduced or published in any way, in whole or in part, without the prior written consent of ALPHA TRUST HOLDINGS. Part of the information and data contained herein have been collected from reliable sources, without any
Slide 3: Iosif Papadogiannis 1965 - 2024
losif Papadogiannis 1965 - 2024 alphatrusthe
Slide 4: Asset class performance 2023
Year Year 2 YEAR 2023 2022 PERFORMANCE MSCI World 21,77% -19,31% 2,41% EQUITIES Greek Equities 39,08% 4,08% 45,17% Government Bonds 7,13% -18,54% -12,64% BONDS Greek Government Bonds 13,43% -19,98% -9,22% High Yield Corporate Bonds 12,78% -11,09% 0,24% REAL ESTATE REITs 11,36% -27,46% -16,35%
Slide 5: Collective Investments Worldwide
Collective Investments Worldwide ——————o Evolution of Assets Under Management (AUM) san ™ Open-End Funds ETFs = Alternative Investments val 71,6 65,1 46) 60 583 388 = 10,2 55,6 sgay 28 443 472 465 (65 nm 39,6 4 = 38,1 EE ow 301 = 247 28,0 278 20,9 “ y} 8,0 = 47,2148 ORE58, SIE 52,2IE5G.a ie) 2008 20
Slide 6: Collective Investments in Europe & Greece — AUM Evolution
Collective Investments in Europe & Greece — Evolution of Assets Under Management (AUM) BUCITS AUM (€ tn) ®AIFs AUM (€ tn) €bn GREECE €tn 18 25 16,0 , 16 20 Pe 14 12 13 41,0 +238% ise) N io} N 201 2012 2013 20/4 2015 2016 207 2018 2021 2022 Note: Greece's AUM includes UCITS and AlFs alphatrusthe Sour
Slide 7: Collective Investments in Europe & Greece — AUM comparative data
Collective Investments in Europe & Greece — AUM comparative data —_————e AUM € per capita vs. GREECE Switzerland 401.600 58,1x € thousands Sweden 55.847 31,9x 120 Netherlands 47.211 27,0x Denmark 47.050 26,9x 102 Malta 37.617 21,5x 100 France 35.283 20,2x Norway 32.034 18,3x Germany 31.806 18,2x 80
Slide 8: Valuations in Greece
Valuations in Greece —_————o €bn @REAL Estate = Deposits Loans = Market Cap. BUCITS / AIFs 900 800 761 769 700 644 621 625 629 600 500 400 300 89 95 200 {70 454 6 80 34 43 Sat 09 15 ti899 ee [J °° ] " ] °4 ae or 10 6,0 8,0 32 me me Ph ws mw Be 2018 2019 2020 2021 2022 2023 Source: Independent Author
Slide 9: Alpha Trust group structure
ALPHA TRUST HOLDINGS ———— 2022 2023 alphatrust | ee lalphatrusthic 100% 100% 100% 100% HELLENIC LAND alphatrustlux alphatrust alphatrustlux alphatrusthe
Slide 10: The portfolio
ALPHA TRUST HOLDINGS —_——e The portfolio po Mancoorront Sivale M Fund And Alternative Investment 32.043.056 100% ALPHA TRUST LUXEMBURG S.a.r.| 698.109 Premises 6.372.469 Securities Portfolio 749.546 Own Shares 367.080 Loans & Leasing of Real Estate (1.119.499) Total 39.110.761 Source: ALPHA TRUST HO
Slide 11: Ownership
Ownership 60 57.8% 57,2% Management & Employees Source: ALPHA TRUST HOLDINGS 31/12/2023 30,5% 295% Individuals = 31/12/2022 12,0% 8,6% 4 Institutional 31% 1.3% — Own Shares alphatrusthe ai)
Slide 12: Subsidiaries
Subsidiaries -_——e alphatrust (In €) 31/12/2023 31/12/2022 AUM 1.608.395.902 1.340.075.2311 +20,02% Revenue 8.069.481 6.694.442 +20,54% Earning before tax 1.472.620 1.162.203 +26,/1% Profit Margin on AUM 0,092% 0,087% Revenue Margin on AUM 0,50% 0,49% Personnel 53 47 UCITS ALPHA TRUST - ALPHA TRUST
Slide 13: Greece — Flows By Category
Greece — Flows By Category nena zs MEOATRUST —amzona MPUATRUST Total Market 3.183,72 0,44% 2.216,40 0,55% Target Maturity funds (TMFs) 3.071,65 1.932,02 Market ex TMFs 112,07 12,51% 284,38 4,25% Money Market Funds 365,23 224,43 Market ex TMFs, ex Money Market Funds -253,15 59,95 18,79% ALPHA TRUST 1
Slide 14: Subsidiaries
Subsidiaries -_——e alphatrustlux (in €) 31/12/2023 31/12/2022 AUM 86.269.503 81.777.941 +5,49% Revenue 121.770 111.918 +8,80% Profit before tax 60.277 57.183 +5,41% Source: ALPHA TRUST HOLDINGS alphatrusthe 4
Slide 15: Summary Results
Summary Results ——————o (in €) 31/12/2023 31/12/2022 % Revenue 8.476.712 7.035.308 +20,49% Earnings before tax 1.798.415 759.007 136,94% Earnings after tax 1.347.962 515.046 161,72% Earnings per share 0,44 0,19 131,58% Source: ALPHA TRUST HOLDINGS alphatrusthe 16
Slide 16: Key Indicators
Key Indicators —_——e (in €) 31/12/2023 31/12/2022 Return on Equity 18,65% 786% Return on Assets 12,47% 488% Profit before tax margin 21,22% 10,79% EBITDA Margin 25,43% 16,48% Net Profit Margin 15,90% 7,32% Gross Profit Margin 64,83% 58,89% Source: ALPHA TRUST HOLDINGS alphatrusthe 16
Slide 17: Distributions to Shareholders
Distributions to Shareholders 2013 — 2024* € 19.793.152 Distributions to Shareholders * Including the dividend of FY 2023 alphatrusthe Source: ALPHA TRUST HOLDINGS 7
Slide 18: Share performance since IPO
Share performance since IPO 1/8/2008 — 10/5/2024 80% 72,00% —— ALPHA TRUST HOLDINGS TR ALPHA TRUST HOLDINGS ——ATHEX COMPOSITE TOTAL RETURN INDEX 20% 4,29% 0% -20% =36,73% -40% -60% -80% -100% e2@ @ S £ gg +s bw eS FB B BB Gg Hy Qi yg g§ & & &§ & & & KR &€& GS B KF €—€& & 8B oO o = a) al oO re} oO 0
Slide 19: Bid Offer Spread %
BID OFFER SPREAD % 16% 14% 13,46% 12% 10% 8% 6% 4% 2% 1,61% 0,98% 2009 2010 201 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0% Note: Calculation of Bid Offer spread % Median of daily observations alphatrusthe Source: LSEG Reuters, ALPHA TRUST HOLDINGS 19
Slide 20: Share Transactions Volume
Share Transactions Volume Turnover Ratio 1/8/2008 — 10/5/2024 20% 19,04% 16,56% 867% 7,75% 8% 7,08% 3,32% 4% 2,67% ° 199% 199% 186% 212% 181% 2% 418% 5 5 oes a 2 — | | | || 0% 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2nu.: 1. The stock’s turnover ratio is the r
Slide 21: 2023 highlights
2023 SZ High Positive Returns SZ Reorganization & Corporate Transformation SY Significant Profitability Improvement alphatrusthe 2
Slide 22: Goals for 2024
Goals for 2024 ———— » New activities in the field of property » Enhance our presence in Retail » Increase the market share of Private Equity » Further improvement of profit margin alphatrusthe 22
Slide 23: Appendix
Appendix
Slide 24: Group Key Figures
Group Key Figures —_—e Nood oe € 2023 2022 2021 Total Equity 7.229.606 6.548.663 6.756.678 Total Assets 10.812.042 10.549.858 12.945.757 Revenue 8.476.712 7.035.308 9.752.697 Gross profit 5.495.353 4.142.849 7.059.741 Gross Profit Margin 64,83% 58,89% 72,39% EBITDA 2.155.615 1.159.150 4,244,093 EBIT
Slide 25: Dividends & Capital Returns since IPO 01/08/2008
Dividends & Capital Returns since IPO 01/08/2008 —_————o Year Dividends Capital Returns Total (in €) (in €) (in €) 2010 311.000 311.000 2013 4.665.000 4.665.000 2014 4.639.878 4.639.878 2015 618.650 618.650 2016 463.988 463.988 2017 494.920 494.920 2018 357.896 541.319 899.215 2019 300.633 216.017 5
Slide 26: Thank you
Thank you —_—— alphatrust Ac ALPHA TRUST HOLDINGS S.A. Tax Identification Number: 094317734 Athens Tax Office, General Commercial Registry: 882401000
Alpha Trust Holdings — Investor Presentation (May 2024) on 6ix