Equita Group (EQUI) Q4 2024 earnings summary

Executive summary

• FY'24/2024 net revenues declined 9% year-over-year to €79–79.4m; net profits fell 13% to €14m.

• Dividend per share proposed at €0.35, maintaining a yield above 8% and payout of ~125% of 2024 net profits.

• Over €51m distributed in dividends over 2022–2024, achieving shareholder remuneration targets.

• 2024 marked as a transition year due to market headwinds, but early 2025 shows strong growth across all business areas.

• Strategic initiatives included acquisitions in EQUITA K Finance and CAP Advisory, and launch of new illiquid funds.

Financial highlights

• FY'24/2024 net revenues: €79–79.4m (-9% vs FY'23/2023); net profits: €14m (-13% vs FY'23/2023).

• Adjusted net profits for FY'24/2024: €14m (-17% vs FY'23/2023).

• Cost/income ratio increased to 74.6% (2024) from 71.5–72.4% (2023).

• Shareholders' equity at €105m as of Dec 31, 2024; ROTE at 22%.

• IFR ratio at 3.7x, well above regulatory minimum.

Outlook and guidance

• Early 2025 shows strong growth in all business areas, with Q1 expected to be among the best since IPO.

• Positive M&A activity and solid pipeline in capital markets expected to support results.

• Asset management fees to benefit from new funds EGIF and EPD III.