Equita Group (EQUI) Q3 2024 earnings summary

Executive summary

• Net revenues for the first nine months of 2024 reached €56 million, with net profit at €10 million and ROTE at 25%.

• Results align with shareholder remuneration targets, supported by improved market conditions and division strength.

• Management anticipates significant improvement in results from 2025, citing a strong investment banking pipeline and successful fundraising.

Financial highlights

• Consolidated net revenues were €55.7 million, down 6% year-over-year; net profit was €9.9 million, up 2% year-over-year.

• Adjusted net profit (excluding one-offs and LTIP) was €9.9 million, down 6% year-over-year.

• Net margin increased to 18% from 16% in the prior year.

• Personnel and other operating costs both decreased by 6% year-over-year.

• Shareholders’ equity stood at €99.5 million as of September 30, 2024.

Outlook and guidance

• 2024 net profits expected to meet shareholder remuneration targets despite a challenging environment.

• Management expresses cautious optimism for significant improvements in 2025, driven by a robust investment banking pipeline and increased management fees from new funds.