Alantra generated revenues of €55.1m (+26.5%) and attributable net profit of €9.1m (+102.0%) in the first quarter of 2021
Date 29 abril 2021
Type Financial Results
- Net revenues reached €55.1m (+26.5% YoY), driven by growth in all business divisions.
- Investment Banking: Net revenues increased by 22.3%, to €37.9m, benefiting from strong market momentum. Year to date, Alantra has advised on over 40 transactions worth more than €6.1bn, including the sale of Aryzta’s North American business to Lindsay Goldberg for €850m, the sale of gaming company ASPYR to Embracer Group for €450m, and Inflexion’s investment in Digital Wholesale Solutions (implied valuation of over €1bn).
- Credit Portfolio Advisory: Net revenues grew by +46.9%, to €9.9m, driven by the gradual recovery of portfolio transactions in Europe. Alantra advised on 6 deals for a total volume of c. €20bn, including the second largest NPE securitization in Europe to date (Project Galaxy).
- Alternative Asset Management: Net revenues reached €6.6m (+14.1%), due to an increase in fee-earning Assets under Management. As of March 31, AuM from consolidated businesses stood at €2.1bn, while AuM from Strategic Partnerships1 in which Alantra holds a significant stake were more than €11bn.
- Operating expenses grew to €43.2m (+13.9%), due to a 65.6% increase in variable retribution linked to the strong business performance, while fixed personnel expenses and other operating expenses decreased by 4.9% and 8.4% respectively.
- Net profit attributable to the parent reached €9.1 Mn (+102.0%), of which €9.7m corresponds to the fee business (+150.3%), €0.2m to the portfolio (-59.5%), and -€0.7m to other results.
- Alantra maintains its strong shareholder remuneration policy. The General Shareholders’ Meeting, which took place yesterday, approved the distribution of €0.40 per share to be paid in May 2021, and it is anticipated that the Board intends to distribute an additional dividend of €0.35 per share in November 2021. Total shareholder remuneration corresponding to 2020 consolidated results would be €0.75 per share, amounting to a 100% payout.
- Alantra and MCH Investment Strategies completed its partnership agreement, by which Alantra acquired a 40% stake in the company to support its growth plan and internationalization. MCH Investment Strategies is an independent product specialist that selects best-in-class international asset managers and structures alternative investment funds for distribution to Spanish, Italian, and Portuguese investors. The firm currently manages or advises more than €3bn AuM. Given that the transaction was completed on April 14th, the present results do not yet reflect the impact of the new business in the Group.
- Alantra continued to strengthen its specialized and diverse Investment Banking practice with the appointments of Tommaso Ferrari (Managing Partner, Italy), Oliver Parker (Partner, UK Tech), and Andrés Ribón (Partner, Spain FIG).
1 Alternative Asset Management businesses in which Alantra holds a strategic stake: Access Capital Partners, Indigo Capital, Asabys Partners and MCH Investment Strategies.