Q1 2025 CapMan Oyj Earnings Call Transcript
Key Points
- CapMan Oyj (FRA:AP6) reported a strong start to the year with a 6% growth in assets under management (AUM), reaching EUR6.4 billion.
- The company achieved a 46% increase in fee profit compared to Q1 last year, amounting to EUR1.5 million.
- CapMan Oyj's real estate portfolio expanded significantly, now comprising 250 properties, and the Hotels II fund doubled in size with a major acquisition.
- The company maintains a solid balance sheet with an equity ratio of 57% and EUR100 million in liquidity, supporting future growth and dividend distribution.
- CapMan Oyj continues to integrate sustainability into its operations, achieving significant reductions in greenhouse gas emissions in its real estate portfolio.
- Total revenue for the first quarter declined compared to last year due to no material carried interest recorded.
- Increased geopolitical uncertainty and market volatility are expected to delay decision-making in the transaction and fundraising markets.
- The company anticipates slower market recovery, with improvements expected in the latter part of the year rather than the first half.
- CapMan Oyj's strategic focus on infrastructure and real estate may face challenges due to perceived low risk-adjusted returns in these sectors.
- The company faces potential challenges in managing simultaneous fundraising efforts for multiple flagship funds, which could strain resources.
Good morning, and welcome to this presentation of CapMan's Q1 Report 2025. My name is Charlotte Wessman, Head of Communication. And presenting today, we have Pia Kall, CEO of CapMan, and we will have a Q&A session after the presentation, and you are welcome to send in questions using the chat in the webcast link.
Pia, please, I hand over to you.
Thank you, Charlotte, and welcome also from my side. CapMan has had a good start to the year, strong activity and a solid financial performance. Our assets under management continued to grow at the end of the first quarter at EUR6.4 billion. The main contributor to this growth, the Hotels II funds transaction of Midstar Fastigheter large hotel portfolio. So 6% growth in AUM from the start of the year.
Revenue at EUR13 million for the first quarter. Here, we have continued growth in fee income of 8%, but no material carried interest
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