STIC Investments (026890) Q3 2025 earnings summary

Executive summary

• Net income attributable to common shareholders was KRW 3,492mm in 3Q 2025, based on K-IFRS, with a year-to-date figure of KRW 2,438mm and LTM of KRW 682mm.

• Fee Related Earnings (FRE) for 3Q'25 LTM rose 28.6% YoY to KRW 16,362mm, but 3Q'25 quarterly FRE fell 11.0% YoY to KRW 5,700mm.

• Total Segment Earnings (TSE) for 3Q'25 LTM dropped 45.4% YoY to KRW 19,903mm, with quarterly TSE down 47.2% YoY to KRW 5,126mm.

• Distributable Earnings (DE) for 3Q'25 LTM decreased 47.3% YoY to KRW 15,059mm, and quarterly DE fell 47.8% YoY to KRW 4,269mm.

Financial highlights

• Management fees for 3Q'25 were KRW 16,089mm, up 9.6% YoY; incentive fees dropped sharply to KRW 49mm.

• Operating profit for 3Q'25 was KRW 4,053mm, down from KRW 6,491mm in 3Q'24.

• Net income per share for 3Q'25 was KRW 97, with a weighted average of 36,039,339 shares outstanding.

• Assets Under Management (AUM) increased 9.4% YoY to KRW 10,468,640mm; Fee Paying AUM (FPAUM) rose 13.4% YoY to KRW 6,894,897mm.

• LTM new capital raised surged 189.5% YoY to KRW 1,153,827mm.

Outlook and guidance

• Dividend policy remains focused on continuous profit realization, with dividends increasing to KRW 250/share in FY2023 and FY2024.

• Share buybacks of KRW 5bn were conducted in 2024 to enhance shareholder value.