United Bankers Oyj Class A · OMXHEX:UNITED
United Bankers Oyj Class A — H1 2024 Earnings Presentation
24 slides from United Bankers Oyj Class A's earnings presentation, Aug 23, 2024
Slide 1: Strongest half-year in operating history – successful forestry strategy execution as a key driver
United Bankers Plc Half-Year Financial Report 1 January – 30 June 2024 Strongest half-year in operating history – successful forestry strategy execution as a key driver Patrick Anderson, CEO 23 August 2024
Slide 2: Contents
Contents ▪ Highlights for the first part of 2024 ▪ Strongest six-month period in operating history ▪ Strong growth in wealth management fee income ▪ Assets under management developed positively ▪ Significant events in the main funds ▪ Low activity in the capital markets ▪ Climate targets and green t
Slide 3: Highlights for the first part of 2024
Highlights for the first part of 2024 ▪ Record result for the first half of the year ▪ Significant increase in fund performance fees ▪ A key contributor to this was the sale of the partnership interests in and forest properties of UB Nordic Forest Fund II LP to the German MEAG. EUR 10 million of the
Slide 4: Key financial figures
Key financial figures AUM Revenue €4.8bn €33.0m +4.3% +33.5% Adjusted operating profit Earnings per share €13.8m €0.96 +97.6% +91.2% 6/2024 4
Slide 5: Operating environment
Operating environment ▪ Concerns about a slowdown in economic growth increased in the early part of the year, as persistent inflation led central banks to postpone interest rate cuts expected by markets ▪ Geopolitical risks remained elevated as the war in Ukraine continued, and tensions increased in
Slide 6: Profitability development
Profitability development 6
Slide 7: Record profit
Record profit ▪ Revenue increased by more than a third and adjusted operating profit almost doubled in the review period ▪ The very strong profit and profitability performance is mainly explained by the sale of the Revenue UB Nordic Forest Fund II to the German MEAG in March ▪ The amount of capital
Slide 8: Strong growth in wealth management fee income
Strong growth in wealth management fee income ▪ Net fee income from wealth management increased significantly to EUR 28.3 million in the review period (+33.8 per cent) ▪ Performance fees from funds more than doubled compared to the reference period ▪ The most significant part of the performance fees
Slide 9: Assets under management developed positively
Assets under management developed positively ▪ Group’s assets under management increased to EUR 4.8 billion ▪ Positive development was driven by both favourable market developments and new sales of wealth management products and services ▪ Mainly positive stock market performance and the stabilisati
Slide 10: Share of funds from AUM
Share of funds from AUM ▪ At the end of June, 62 per cent of assets under management, or EUR 2.9 billion, were invested in funds ▪ Capitals in real asset funds amounted to EUR 1.7 billion ▪ Real asset funds accounted for 59 per cent of total fund capital and 37 per cent of the Group's assets under m
Slide 11: AUM breakdown
AUM breakdown AUM BREAKDOWN AUM ASSET CLASS BREAKDOWN Other Other Real Funds Stocks Assels Asset Management (without funds) py Fixed Income
Slide 12: Sales of wealth management products
Sales of wealth management products ▪ Sales of wealth management products and services remained slightly below the comparison period at EUR 273 million ▪ Net fund subscriptions exceeded EUR 93 million and sales of discretionary asset management services more than doubled to around EUR 118 million ▪
Slide 13: Forest trade affected the share of real asset investments
Forest trade affected the share of real asset investments ▪ Funds investing in forest, real estate and infrastructure represent a significant part of the company's performance and growth potential ▪ The sale of the partnership interests in the UB Nordic Forest Fund II LP reduced the Group's assets u
Slide 14: The sale of the UB NFF II fund reflects the successful implementation of the forestry strategy
The sale of the UB NFF II fund reflects the successful implementation of the forestry strategy ▪ The most significant event of the review period was the sale of the UB Nordic Forest Fund II forest properties totalling approximately 33,000 hectares to MEAG, the asset management company of the German
Slide 15: Significant events in the main funds
Significant events in the main funds ▪ The fundraising period of the UB Forest Industry Green Growth Fund I LP, a private equity fund investing in unlisted forest and bioproducts companies, has been extended until the end of January 2025 ▪ In addition to fundraising, UB FIGG actively promoted its in
Slide 16: Low activity in the capital markets
Low activity in the capital markets ▪ The number of M&A and capital market transactions remained low in the first half of the year ▪ Continued high interest rates contributed to the downward pressure on overall demand for capital market services ▪ UB Corporate Finance acted as sole financial advisor
Slide 17: Climate targets and green transition create significant business opportunities
Climate targets and green transition create significant business opportunities ▪ United Bankers' climate objectives and the Climate Roadmap have made the green transition a more central part of the company's business and investment solutions ▪ Through its funds, the Group aims to increase opportunit
Slide 18: Outlook for 2024
Outlook for 2024 ▪ Despite the slowdown in China and the US, global economy is expected to grow this year ▪ Easing upward pressure on prices gives central banks room to ease monetary policy The company reiterates ▪ Falling interest rates are expected to support the development of the real its guidan
Slide 19: United Bankers' total share price development
United Bankers’ total share price development 1-6/2024 19
Slide 20: Contact details
CEO Patrick Anderson patrick.anderson@unitedbankers.fi tel. +358 400 244 544 Chief Communications Officer Inka Noramaa inka.noramaa@unitedbankers.fi tel. +358 40 576 4202 Investor Relations Manager Marjo Åström marjo.astrom@unitedbankers.fi tel. +358 40 507 6546 Investor Relations ir@unitedbankers.f
Slide 21: Appendixes
Appendixes
Slide 22: Key figures
Key figures * The percentage change has been calculated using the actual figures, the figures shown in the table have been rounded. ** The number of personnel stated has been converted to full-time personnel 22
Slide 23: Key figures of the income statement
Key figures of the income statement 23
Slide 24: United Bankers' investment funds
United Bankers’ investment funds