Alantra achieved net profit of €30.2mn in 2017, a 20.7% growth
Date 27 February 2018
Type Financial Results
Net revenues reached €136.1mn, which implies a +50.9% growth versus 2016, achieving a similar growth in investment banking (+50.4%) and asset management (+53.8%).
Record net profit of €30.2mn, driven by a +68.5% growth in the fee business (reaching €26.6mn) and €3.8mn coming from the investment portfolio. Operating expenses have increased by +38.9% to €99.2mn mainly due to an increase in personnel expenses linked to the incorporation of new teams and professionals, and a higher variable remuneration directly related to the higher results obtained.
Attractive shareholder remuneration while continuing investing in the growth of the business. The Board of Directors will propose to the Annual General Meeting the distribution of an additional payment of €0.37 per share. Together with the interim dividend paid in November ( €0.47 per share), 2017 shareholder remuneration will amount to €0.84 per share, implying a payout of 100% and a dividend yield of 7.4%.
Maintaining a solid balance sheet with cash and cash equivalents amounting to €122.3mn at year end, after the cash out corresponding to the Alantra’s Corporate Finance division in the UK integration and the interim dividend payment.
Further steps towards becoming a leading global advisory and asset management business in the mid-market, incorporating 30 senior professionals in 2017.
In Asset Management, Alantra launched two next generation funds: QMC Fund III, which already achieved a first closing of €44mn in October, and the private debt fund Alteralia II which started its fundraising process.
Alantra strengthened its UK presence through the integration with Alantra’s Corporate Finance division in the UK, a London-based advisory firm with 48 professionals.
The Group also made further steps to scale up its US presence through the incorporation of 5 Managing Directors.
In Europe, Alantra reinforced its deep penetration of the European market by adding new geographies (Austria & CEE and Belgium), activities (Capital Markets & Corporate Broking in Italy, and Debt & Real Estate Advisory in France) and 10 senior professionals.
Alantra continued to deliver top performance in its asset management products, while reaching €4bn of Assets under Management.
The EQMC Fund generated a 23.2% return in 2017, and was awarded Top Global Hedge Fund in Barron’s Penta’s ranking. The Iberian QMC Fund obtained a 18.1% return in the same period.
In Private Equity, the team has completed two acquisitions for its new fund (MD Moldes and Roq) while divesting another two from the predecessor funds (Probos and Panasa). In Private Debt, Alantra has already completed 11 investments, out of which 2 have been fully repaid (17% and 10% IRR).
Alantra’s Wealth Management team added two new offices and grew its Assets under Management by +20% to €1.6bn.
Alantra advised on 186 Investment Banking transactions in 2017 (+21,0%). With these results, Alantra ranked as Top5 independent advisors in EMEA and in the US according to Dealogic, and #11 European advisor according to Mergermarket.