Brock Milton Capital (BMC) investor relations material

Executive summary

• Delivered stable Q1 results amid heightened geopolitical uncertainty and market volatility, with a disciplined focus on long-term value creation and active management of both Champions and Special Situations portfolios.

• Continued expansion in European markets and introduction of new funds in Sweden, despite BMC Global Select not being selected in a major procurement process.

Financial highlights

• Assets under management (AUM) at quarter-end were SEK 18.1bn, up from SEK 18.0bn year-over-year; AUM increased to SEK 19.9bn after the period.

• Provisions income was SEK 36.1m, down from SEK 40.4m year-over-year; operating income was SEK 18.0m, down from SEK 20.2m.

• Operating profit reached SEK 7.2m, compared to SEK 8.2m last year; adjusted operating profit was SEK 7.2m versus SEK 9.3m.

• Net profit after tax was SEK 5.7m, down from SEK 6.5m year-over-year; EPS was SEK 1.42, compared to SEK 1.62.

• Provisions costs decreased by 11% year-over-year.

Outlook and guidance

• Long-term targets include annual net inflows to funds of at least SEK 2.5bn and an average fund return of 15% per year over a cycle.

• Dividend policy aims to distribute 80-90% of annual profit, considering financial position over a cycle.

• Management maintains a long-term investment approach, emphasizing resilience through market cycles.