Alantra generated revenues of €54.8m (-0.5% YoY) and an attributable net profit of €7.2m (-21.2% YoY) in Q1 2022
Date 27 April 2022
Type Financial Results
Net revenues reached €54.8m (-0.5% YoY). In Investment Banking, net revenues slightly fell (-3.8% YoY) to €36.5m on the back of a slowdown in industry-wide activity. According to Refinitiv data, global M&A activity fell 23% during the period.
This was offset by an increase (+15.5%) that reached €11.4m in Credit Portfolio Advisory revenues and an uplift (+2.7%) to €6.8m in Alternative Asset Management revenues.
Despite the solid performance in the year-to-date, the Firm is continuously monitoring the evolving macroeconomic situation and remains cautious about the full-year outlook.
Operating expenses slightly increased to €44.4 Mn (+2.7%), mainly driven by the increase in fixed personnel expenses (+16.5%) associated with the incorporation of new teams and salary inflation, and higher other operating expenses (+21.8%).
Net profit attributable to the parent company reached €7.2m (-21.2% YoY), of which €7.4m corresponds to the fee business (-23.8%), €0.1m to the portfolio (-66.6%), and -€0.2m to other results (+71.4%).
The Annual General Meeting, which took place today, approved the distribution of €0.55 per share to be paid in May 2022. As anticipated in February, the Board will decide on the amount to be distributed as an additional dividend during the second half of 2022, once there is more visibility on the execution of the investment plan envisaged for this year.
Alantra advised on 41 transactions worth c. €3.4bn year-to-date and continues to strengthen its specialized and diverse practice through the incorporation of a new senior M&A team in Italy and a Managing Director in the US to strengthen its Tech practice. Additionally, the Firm acquired a significant stake in a European Tech M&A specialist, Avolta Partners, to further reinforce its expertise in this high-growth sector.
Noteworthy transactions include the acquisition of Team ITG by Bridgepoint; the acquisition of Nox NatchExpress by Groupe Sterne; the sale of Allianz Middle East Ship Management to Shuaa Capital, one of the largest M&A deals in the Maritime Offshore sector; and the sale of Analytical Wizards to Definitive Healthcare.
Alantra’s Credit Portfolio Advisory division advised on nine deals for a total volume of €8.8bn, including the sale of a €2.4bn NPL portfolio from Alpha Bank to Cerberus, the largest NPL sale by a Greek bank outside of the national guarantee scheme (HAPS).
The Asset Management business continued to scale and diversify its strategies with the appointment of five professionals in Private Debt, including a Managing Director in Italy to launch its activities in the country.