BR Advisory Partners Participações (BRBI11) Q3 2024 earnings summary

Executive summary

• Achieved record revenue and net income in 9M24, driven by strong operational performance and robust activity in M&A, restructuring, and debt capital markets.

• Client revenues grew 57.6% year-over-year, representing 76% of total revenue, with all business lines contributing to growth.

• Net income for 9M24 reached R$151.5 mn, up 35.3% from 9M23, with a net margin of 34.7%.

Financial highlights

• Total revenue in 9M24 was R$437.3 mn, up 40.4% year-over-year; 3Q24 revenue was R$157.7 mn, up 47.6% vs. 3Q23.

• Net income in 3Q24 was R$50.1 mn, up 24.8% vs. 3Q23 but down 3.6% sequentially from 2Q24.

• Efficiency ratio for 9M24 was 42.8%; compensation ratio was 24.9%.

• ROAE reached 24.2% in 9M24, up 5.3 p.p. year-over-year.

• Basel Ratio improved to 25.2% at Sep/24, up from 17.4% a year earlier.

Outlook and guidance

• M&A activity remains strong with a favorable environment for strategic transactions and multi-sector consolidation opportunities.

• Local debt market is robust, with record issuance volumes and strong demand from institutional investors.