Full Year 2024 CapMan Oyj Earnings Call Transcript
Key Points
- CapMan Oyj (FRA:AP6) achieved a record high of EUR6.1 billion in assets under management, marking a 22% growth compared to 2023.
- The company reported a significant improvement in comparable EBIT, reaching EUR19 million from just below EUR1 million in 2023.
- CapMan Oyj successfully raised EUR570 million in new capital during 2024, with a substantial portion coming from international investors.
- The acquisition of Dasos Capital and the establishment of natural capital as a new investment area strengthened CapMan Oyj's position as a real asset specialist.
- The board of directors expects a total dividend of EUR0.14 per share for 2024, a significant increase compared to the previous year.
- The fundraising market continued to decline in 2024, marking the third consecutive year of decline, particularly affecting Europe-focused funds.
- External funds had a slight negative impact on fair value changes during 2024, despite overall positive contributions from CapMan's own funds.
- The company did not provide numeric estimates for 2025 due to potential fluctuations in carried interest and fair values of investments.
- CapMan Oyj's investment portfolio is expected to decrease in size over the next three years as the company focuses on its own funds and reduces non-strategic external investments.
- Personnel costs increased in Q4 2024, partly due to the acquisition of Dasos Capital and recruitment in investment areas, although no significant one-time items were reported.
Good morning and welcome to this presentation of CapMan's Full year results 2024.
Presenting today, we have Pia Kall, CEO of CapMan; and my name is Charlotte Wessman, director of communication.
After the presentation we will have a Q&A session, and you are welcome to send in questions at any time using the chat box in the webcast link.
I hand over to you Charlotte.
And welcome also from my side today's full year 2024 financial results for CapMan.
2024 was a strong year for CapMan. We achieved several strategic milestones, and we had strong financial performance across the board.
Our assets under management by year end stand at EUR6.1 billion, a record high. It is a 22% growth compared to 2023. Half of the growth coming from our acquisition of Dasos capital and half of the growth from new capital raised in total EUR570 million of new capital raised during last year.
Our turnover at
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