STIC Investments (026890) Q2 2024 earnings summary

Executive summary

• 25 years of investment experience with over 100 private equity investments since 2006.

• Aggregate AUM of KRW 9.5 trillion, managing 13 blind funds and 6 project funds.

• Focus on key trends such as digital transformation, energy transition, and demographic change.

• Largest portfolio operations function in Korea, emphasizing value creation and ESG integration.

Financial highlights

• FY2024 2Q: Operating revenue KRW 16.8B (down 24% QoQ), operating income KRW 0.1B (down 99% QoQ), net income KRW -2.6B (turned to deficit QoQ).

• AUM stable at KRW 9.5T; management fees consistently generate KRW 15B in quarterly revenue.

• Valuation losses on subsidiary investments impacted results.

• 1H2024 operating revenue KRW 38.9B (up 33% YoY), net profit KRW 5.9B (down 56% YoY).

Outlook and guidance

• No new fundraising in 2Q24; focus remains on stable management fee income and selective investments.

• Continued commitment to expanding dividends and realizing profits for shareholders.