CapMan - Better than expected finish to year
CapMan's net sales in Q4 amounted to EUR 14.7m (EUR 14.5m/15.0m Evli/cons.) and EBIT to EUR 12.2m (EUR 10.7m/9.4m Evli/cons.). CapMan proposes a dividend of EUR 0.15 per share (EUR 0.15/0.15 Evli/Cons.).
- Revenue in Q4 was EUR 14.7m (EUR 13.4m in Q4/20), in line with our estimates and consensus estimates (EUR 14.5m/15.0m Evli/Cons.). Growth in Q4 amounted to 10% y/y.
- Operating profit in Q4 amounted to EUR 12.2m (EUR 9.7m in Q4/20), above our estimates and consensus estimates (EUR 10.7m/9.4m Evli/cons.), at a margin of 83.2%.
- EPS in Q4 amounted to EUR 0.06 (EUR 0.04 in Q4/20), slightly above our estimates and consensus estimates (EUR 0.05/0.05 Evli/cons.).
- Management Company business revenue in Q4 was EUR 11.8m vs. EUR 11.7m Evli. Operating profit in Q4 amounted to EUR 3.2m vs. EUR 3.1m Evli.
- Investment business revenue in Q4 was EUR 0.0m vs. EUR 0.0m Evli. Operating profit in Q4 amounted to EUR 9.6m vs. EUR 8.9m Evli.
- Services business revenue in Q4 was EUR 2.4m vs. EUR 2.2m Evli. Operating profit in Q4 amounted to EUR 1.2m vs. EUR 0.7m Evli.
- Revenue in Other in Q4 was EUR 0.5m vs. EUR 0.6m Evli. Operating profit in Q4 amounted to EUR -1.7m vs. EUR -1.9m Evli.
- Dividend proposal: CapMan proposes a dividend of EUR 0.15 per share (EUR 0.15/0.15 Evli/Cons.).
- Capital under management by the end of Q4 was EUR 4.5bn (Q4/20: EUR 3.8bn). Real estate funds: EUR 3.1bn, private equity & credit funds: EUR 1.0bn, infra funds: EUR 0.4bn, and other funds: EUR 0.1bn.