Equita Group (EQUI) Q3 2024 earnings summary

Executive summary

• Consolidated net profit for the nine months ended 30 September 2024 was €9.9 million, up 2% year-over-year, with ROTE at 25%.

• Net revenues declined 6% to €55.7 million compared to the same period in 2023.

• 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

• Net revenues: €55.7 million (down 6% year-over-year); net profit: €9.9 million (up 2% year-over-year).

• Pre-tax profit: €14 million (down 7% year-over-year).

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

• Cost/income ratio: 75%.

• 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.

• Economic and financial results for Q4 2024 will depend on market trends and macroeconomic conditions.