Half Year 2024 Eurazeo SE Earnings Call Transcript
Key Points
- Fundraising increased by 63% year-on-year, reaching EUR 2.1 billion.
- Fee-paying assets under management (AUM) from third parties grew by 14%.
- Management fees from third parties increased by 13%.
- Shareholder returns improved with a 10% increase in dividend per share and a doubling of the share buyback program.
- Eurazeo SE ranked 81st among Time Magazine and Statista's 500 World's Most Sustainable Companies and 2nd out of 283 private equity companies for diversity, equity, and inclusion.
- Net results group share for H1 2024 stood at a negative EUR 105 million.
- Change in fair value contributed to a negative EUR 48 million.
- Balance sheet management fees were down 3%.
- Growth portfolio was adjusted down by 7%.
- Performance fees are still low despite the high level of realizations.
Hello, and we'll come to the financial information for H1 2024 results. My name is Caroline, and I'll be your coordinator for today's event. Please note this call is being recorded. (Operator Instructions) For today's call we have William Kadouch-Chassaing, co-CEO; and Christophe Baviere, co-CEO.
I will now hand over the call to your host to begin today's conference. Please go ahead, sir. Thank you.
Thank you very much for the introduction. Good morning, all. Thanks for joining this call. Christophe and I are pleased to welcome you to our 2024 half year results presentation.
Our presentation will be switched off. First, sorry, I will share with you the financial and nonfinancial highlights for H1. Second, Christophe will focus on fundraising, commercial dynamic and asset rotation. So and last, I will detail our financial results. We will then be available to take questions.
During the first half of 2024, we made further
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