Equita Group (EQUI) Q4 2025 earnings summary

Executive summary

• Net revenues reached €111.7m, up 41% year-over-year, and net profits rose 73% to €24.3m, marking the strongest performance since IPO.

• All business areas delivered double-digit growth, with record Directional Trading results and significant contributions from Global Markets, Investment Banking, and Alternative Asset Management.

• Dividend proposal increased by 14% to €0.40 per share, with an 85% payout ratio.

• Strategic partnership signed with BCC Iccrea Group, including a 15% equity stake acquisition and €20m capital increase.

Financial highlights

• Consolidated net revenues increased to €111.7m from €79.4m year-over-year (+41%).

• Consolidated net profit rose to €24.3m from €14.0m (+73%).

• Cost/income ratio improved to 70.2% from 74.6% in FY'24.

• Shareholders’ equity reached €115.4m as of December 31, 2025.

• Personnel costs increased 45% year-over-year, reflecting incentive plan impacts.

Outlook and guidance

• Dividend yield projected at 6.9% on average price over the last 6 months and above 7% at current price.

• Retained earnings increased to support future distributions and maintain payout below 100%.

• First quarter 2026 expected to deliver results above historical first-quarter averages.

• Directional Trading faces volatility due to geopolitical uncertainty.