CapMan - Good figures across the board
CapMan's turnover in Q1 amounted to EUR 18.4m, above our estimates and consensus (EUR 14.8m/15.1m Evli/cons.). EBIT also above expectations, at EUR 7.3m (EUR 1.2m/3.4m Evli/cons.), largely attributable to larger than estimated carried interest and positive fair value changes.
- Turnover in Q1 was EUR 18.4m (EUR 15.1m in Q1/23), above our estimates and consensus (EUR 14.8m/15.1m Evli/Cons.). Growth in Q1 amounted to 22% y/y.
- Operating profit in Q1 amounted to EUR 7.3m (EUR 0.5m in Q1/23), above our estimates and consensus (EUR 1.2m/3.4m) Evli/cons. The difference to our estimates is largely attributable to larger than estimated carried interest and positive fair value changes.
- EPS in Q1 amounted to EUR 0.015 (EUR 0.00 in Q1/23), above our estimates and consensus (EUR 0.00/0.00 Evli/cons.).
- Turnover in the Management Company business in Q1 was EUR 15.4m vs. EUR 11.8m Evli. Operating profit in Q1 amounted to EUR 6.3m vs. EUR 2.3m Evli. The difference was mainly due to carried interest (EUR 3.5m/0.3m act./Evli)
- Revenue in the Investment business in Q1 was EUR 0.0m vs. EUR 0.0m Evli. Operating profit in Q1 amounted to EUR 2.1m vs. EUR -1.2m Evli.
- Revenue in the Service business in Q1 was EUR 2.9m vs. EUR 3.0m Evli. Operating profit in Q1 amounted to EUR 1.7m vs. EUR 1.7m Evli.
- Capital under management by the end of Q1 was EUR 5.7bn (Q1/23: EUR 5.0bn). Real estate funds: EUR 2.9bn, Private Equity & Credit funds: EUR 1.0bn, Natural Capital funds: 0.7bn, Infra funds: EUR 0.6bn, and Wealth Management: EUR 0.5bn.