In the final quarter, the return from Evli's operations rose by almost a quarter to EUR 28.1 million and operating profit rose by as much as 56 percent to EUR 13.6 million. Full-year revenue amounted to almost EUR 80 million and operating profit was EUR 29.1 million.
Record result in an exceptional market environment
- Net revenue was EUR 79.7 million (1-12/2019: EUR 75.8 million)
- Operating profit was EUR 29.1 million (EUR 24.1 million)
- The Wealth Management and Investor Clients segment’s operating profit increased and was EUR 27.7 million (EUR 20.8 million)
- The Advisory and Corporate Clients segment’s operating profit declined and was EUR 1.8 million (EUR 2.8 million)
- The return from own balance sheet items declined during the beginning of the year as a consequence of the market collapse and were EUR 2.4 million (EUR 3.2 million), which resulted in a weaker operating profit in the Group Operations segment
- Net assets under management amounted to EUR 14.1 billion (EUR 14.3 billion) at the end of December
- Evli’s diluted earnings per share were EUR 0.87 (EUR 0.71) and return on equity was 26.2 percent (23.4%)
- Proportion of recurring revenue to operating costs was 124 percent (124%).
- The Board of Directors dividend proposal to the Annual General Meeting is EUR 0.73 per share (EUR 0.66 per share). It is proposed that the Annual General Meeting would authorize the Board of Directors to decide on the payment of the dividend in one or more installments at a time it deems best, taking into account the current authority recommendations.
- The Group's net revenue was EUR 28.1 million (EUR 22.7 million)
- The Group's operating profit was EUR 13.6 million (EUR 8.7 million)
- Earnings per share amounted to EUR 0.42 (EUR 0.24).
Outlook for 2021
We estimate that the operating profit for 2021 will be clearly positive.
The view is supported by a high ratio of recurring revenue to operating costs, as well as sales of alternative investment products, which have brought new, stable revenue.