Administradora de Fondos de Pensiones Habitat (HABITAT) Q1 2025 earnings summary

Executive summary

• Net profit for Q1 2025 was CLP 33,358 million, down 28.4% year-over-year, mainly due to lower obligatory reserve profitability despite higher operating revenues and lower financial costs.

• Operating revenues increased by 5.6% compared to Q1 2024, driven by higher commissions from mandatory savings and other fee-based services.

• AFP Habitat remains the leader in total managed balances, with assets under management reaching CLP 51.5 trillion, a 7% increase year-over-year.

• The company made a notable investment in alternative assets, acquiring Aguas Pacífico through a partnership with Patria Investment.

Financial highlights

• Operating revenues: CLP 66,164 million (+5.6% YoY); operating expenses: CLP 27,232 million (+11.3% YoY).

• EBITDA: CLP 49,013 million (-28% YoY); EBITDAR: CLP 39,955 million (-6.3% YoY).

• Obligatory reserve profitability dropped 64.3% YoY to CLP 9,057 million, significantly impacting net profit.

• Net profit: CLP 33,358 million (-28.4% YoY); profit before tax: CLP 44,727 million (-29.3% YoY).

• Total assets: CLP 663,131 million (+5% YoY); equity: CLP 360,822 million (+4.6% YoY).

Outlook and guidance

• The company maintains its leadership in profitability and managed assets, with continued focus on alternative investments and social initiatives.

• Market volatility and lower returns in equity-heavy funds may continue to impact obligatory reserve profitability.