Administradora de Fondos de Pensiones Habitat (HABITAT) Q2 2024 earnings summary

Executive summary

• Net profit for Q2 2024 rose 14.5% year-over-year to CLP 65,332 million, driven by higher revenues and improved reserve profitability.

• Ordinary/operating revenues increased 4.3% year-over-year, mainly from higher commissions on mandatory savings.

• AFP Habitat maintained the largest AUM in the industry at CLP 47.9 trillion and a 27.6% market share as of June 2024.

• Recognized for corporate reputation, ranking 5th in Great Place to Work Chile and leading in Merco Talent Ranking 2024.

Financial highlights

• Total AUM grew 10.5% year-over-year to CLP 47.9 trillion; APV AUM up 9.2%.

• EBITDA for the year to June 2024 reached CLP 97,778 million, up 13.5% year-over-year.

• Profitability of the obligatory reserve surged 293% year-over-year to CLP 13,767 million.

• Financial costs decreased 30.9% year-over-year to CLP 4,138 million.

• Market cap increased 6.8% to USD 1.93 billion as of June 2024.

Outlook and guidance

• Real return on investment for Chilean funds showed positive 12-month returns as of July 2024, with Fund A at 11.04%.

• Average base/taxable salary for contributors increased 7% year-over-year, supporting higher contributions.