Alantra reports first quarter revenues of €36.1mn (+11.3%) and a net profit of €0.5mn (+14.6%)

• The Group’s Q1 net revenues increased by 11.3% YoY, up to €36.1mn, mainly driven by a 15.7% revenue growth in Alantra’s financial advisory[1] businesses, reaching €28.6m. Asset Management revenues remained flat at €7.2mn (+0.4% YoY).
  
  European deal activity was 27% lower than in Q1 2023 by deal count, still reflecting a tough environment – particularly for the mid-market[2] – according to MergerMarket.

• Total operating expenses in Q1 increased by 5.3% to €37.1mn.
• Q1 net profit attributable to the parent company stood at €0.5mn (+14.6% YoY), of which €0.1mn corresponded to the fee business, €0.1mn to the portfolio, and €0.3mn to other businesses.
• Alantra’s financial position remained strong, with a net treasury position of €98.3mn[3] as of 31 March 2024, following the deduction of the upcoming variable retribution pay-out of €12.7mn and the €3.0mn dividend. Alantra also holds €37.5mn of an attributable portfolio of investments in products managed by the Group[4]. Shareholders’ equity amounted to €283.5mn. The Group has no financial leverage.
• The Annual General Meeting approved the distribution of a dividend of €3.0mn (€0.08 per share), to be paid on 10 May. The dividend representsa c. 60% pay-out ratio over the FY 2023 attributable net profit, continuing last year’s pay-out practice.
• Alantra has advised on 35 transactions year-to-date (+3% YoY), of which 18 were M&A deals, 11 FIG deals, 3 debt advisory deals, 2 strategic advisory deals, and 1 ECM deal. Moreover, Alantra hired senior bankers in New York, London, and Barcelona.
• In Asset Management, the PE team completed the second divestment for Alantra PEF III (Monbake). Klima completed its sixth and seventh investment, leading a €52mn Series C financing round for GridBeyond and participating in a $27.2mn Series B investment round for SWTCH.

[1] Alantra’s financial advisory businesses are the Investment Banking and FIG segments

[2] European deal volumes grew by 42% in the first quarter 2024, largely driven by a 225% increase in deals above €2bn. However, the deal count was 27% lower than an in the already quiet first quarter 2023. Source: Mergermarket “European M&A shows ray of sunshine after a long night – Dealspeak”

[3] €86.7mn of cash and cash equivalents and €27.3mn invested in a monetary fund included under non-current financial assets, deducting €3.0mn in dividend payments and €12.7mn in outstanding bonuses

[4] €62.8mn of a portfolio of investments in product managed by the group (50.1% attributable) + €17.7mn of investments in photovoltaic projects (24.75% attributable) + €1.7mn of other investments in products managed by the group (100% attributable). Included under non-current financial assets