Alantra generated revenues of €117.0m (-17.6%) and attributable net profit of €22.0m (-13.3%) in H1 2022

Date 28 July 2022

Type Financial Results

The firm generated net revenues of €117.0m (-17.6%) amid a challenging macroeconomic environment. Investment Banking revenues decreased by 20.2% to €72.4m, reflecting lower global deal-making activity YoY, down by 23%1. This was partially offset by the increase in Credit Portfolio Advisory revenues to €28.2m (+15.4%).

In Alternative Asset Management, revenues from management fees increased by 12.0% to €15.3m. However, the absence of relevant performance fees (-€12.3m drop YoY) drove total revenues in the division to decrease by 40%.

Operating expenses decreased by 11.1%, to €93.0m. Fixed personnel expenses increased by 17.8% due to the continued investment in attracting and retaining talent, while variable retribution decreased by 50.2% as a result of the Firm’s compensation structure, which links remuneration to performance.

Net profit attributable to the parent reached €22.0m (-13.3%), of which €16.5m correspond to the fee business and €0.1m to the portfolio. Additionally, the Firm posted €5.4m of profits mainly driven by the full divestment of Alantra Wealth Management2.

Alantra presents a strong balance sheet to strengthen its core businesses through accretive investments. The firm has €289.5m of shareholder’s equity attributable to the parent, €198.7m of cash and cash equivalents, and no financial leverage.

Alantra advised on 71 transactions (-24.4% YoY) worth c. €4.8bn year-to-date and further strengthened its specialized practice with the incorporation of seven senior professionals.

The Credit Portfolio Advisory division advised on 21 deals (+5.0% YoY) for a total volume of c. €17bn, including three synthetic securitizations for Piraeus Bank worth €2.7bn in Greece, and two securitizations for Unicredit worth €2.4bn. 

As of June 30, 2022, assets under management from consolidated businesses stood at €2.2bn, while assets under management from Strategic Partnerships were €13.7bn.

[1] Dealogic’s H1 Global M&A Highlights

[2] Following divestment initiated in December 2018, Alantra closed the sale of its remaining stake (24.4%) in Alantra Wealth Management to Grupo Mutua in May 2022