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Alantra generated revenue of €11.7 million (+32% YoY) and ordinary net profit of €1.1 million in the first quarter of 2016


Date 28 April 2016

Type Financial Results

Sustained growth in revenue and profits. Sixty-six per cent of total revenue was generated by the investment banking business and the remaining 39%, by the asset management business.

Ordinary net profit – at €1.1 million – was generated entirely by the recurring business activities of the Group’s investment banking and asset management lines as there were no disposals in the investment business this quarter.

Shaped by the adverse impact ( €0.6 million) of movements in the EUR/USD exchange rate, net profit attributable to equity holders of the parent amounted to €0.5 million.

Attractive shareholder remuneration, continued solid capital structure. At yesterday’s AGM, the Company’s shareholders approved a €0.50 DPS, thereby lifting the dividend yield to 6.4% (calculated using the closing price of 21 April). This dividend will be paid in May and charged against the share premium account.

The Alantra Group’s capital structure remains solid, with cash of €117.3 million and short-term investments of €19.7 million at the March close.

Intense activity in 1Q16:

Year-to-date, the investment banking division has advised on 26 transactions (69% cross-border), 15 of which were M&A deals ( 60% sell-side advisory), five were capital markets transactions ( €684m raised in the UK) and three were credit portfolios (volume: c. €500m). This pace of activity positioned the Group among the top 10 M&A advisors in Europe, according to Mergermarket.

As for the asset management division, it is worth highlighting the first close – €400 million – achieved by Alantra’s new private equity fund (Alantra PEF III), to which Alantra and the management team have committed 10% of the fund’s ultimate total capital. The fund, which is expected to reach €450 million after the second and definitive close, is the largest private equity fund raised in the Spanish mid-market since 2008.

At the March close, the Group had €2.59 billion of assets under management.