Full Year 2024 Allfunds Group PLC Earnings Call Transcript
Key Points
- Allfunds Group PLC (STU:6UY) achieved a 13% increase in assets under administration, reaching EUR1,558 billion.
- Net revenues hit a record of EUR632 million, up 16% year-on-year.
- Adjusted EBITDA increased by 18% to EUR422 million, with a margin of 66.8%.
- The company proposed an increased dividend of EUR80 million and a EUR250 million share buyback.
- Allfunds successfully onboarded 74 new distributors, a 40% increase from 2023.
- Net flows have not yet reached the average of the last 5 or 10 years.
- The company faces challenges from the US, China commercial crisis, and financial turmoil in Ukraine.
- Net treasury income is expected to decline by 30% year-on-year in 2025.
- The subscription-based revenue growth was softer than initially guided.
- The company anticipates a moderate increase in costs for 2025 due to strategic initiatives.
Thank you for joining us. With me are Juan Alcaraz, Allfunds' Chief Executive Officer; and Alvaro Perera, Chief Financial Officer. Juan and Alvaro will take you through the presentation today. And after our prepared remarks, we will be happy to take your questions. Presentation is already available for download on this webcast page.
The call is being broadcast live, and a replay will also be available on our website during the day. Let me now hand over to you, Juan.
Thank you very much, Silvia, and good morning to everyone. I'm excited to present these preliminary results for Allfunds. This has been a remarkable year for us, which marks a new era for Allfunds, and I'm proud to share our achievements and future plans with you. 2024 has been a transformative year for us. We have achieved growth, record breaking performance and lead the groundwork for even greater success. We are the world's leading B2B
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