ANIMA HOLDING SPA - 9M AuM above € 76 billion (+7% vs. 9M16)
- Net commissions: €157.0 million (-2% vs. 9M16)
- Total consolidated revenues: €178.7 million (-1% vs. 9M16)
- Consolidated Net Profit: €78.3 million (+24% vs. 9M16)
- Consolidated Adjusted net profit: €90.4 million (+3% vs. 9M16)
Milan, 10 November 2017 - Anima Holding S.p.A. (ANIM.IM) Board of Directors approved today the consolidated results for the nine months ending September 30th, 2017.
9M17 net inflows were positive for around €2.5 billion; total assets under management as of September 2017 reached €76.4 billion (as opposed to €72.7 billion at the end of December 2016).
With reference to the income statement, 9M17 net commissions reached €157.0 million (-2% vs. €159.9 million in 9M16; the figure included approx. €5 million linked to an institutional mandate expired after the period). In the first nine months of 2017 performance fees were
€4.5 million (in slight decrease vs. €5 million in 9M16). Considering these fees as well as other income, 9M17 total revenues totaled €178.7 million (-1% vs. €181.1 million in 9M16).
Ordinary operating expense was €48.5 million (in line with €48.3 million in 9M16).
Profit before tax reached €111.5 million (around 5% up vs. €105.8 million in 9M16), whereas net profit was €78.3 million (+24% vs. €63.3 million in 9M16). Adjusted net income (which does not take into account extraordinary income or charges, intangible depreciations linked to the "purchase price allocation") was €90.4 million (+3% vs. €87.8 million in 9M16).
Net financial position as of September 30th 2017 is €224.1 million positive, (€192.9 million at the end of 2016).
"We are moving towards the end of 2017, a year rich of challenges for us; we were able to reinforce our profile as the leading independent Italian asset manager going ahead on our growth path both organic and through M&A. We are convinced that our confirmed role of multi-partnership operator will offer us further development opportunities and consequently we look at 2018 with renewed commitment and confidence" commented Marco Carreri, Anima Holding S.p.A. CEO.
* * *
The Manager responsible for preparing the Company Financial Statements, Enrico Bosi, in accordance with paragraph 2 article 154-bis of the Consolidated Finance Law (Testo Unico della Finanza), herewith declares that the accounting information contained in this press release is consistent with the official documents, books and accounting records.
* * *
ANIMA is a leading Italian independent asset management operator, with more than €75 billion of assets under management (as of October 2017). A synthesis of different, complementary paths and specializations, ANIMA nowadays offers one of the largest range of products and services available on the market. ANIMA's offering is composed of Italian collective investment schemes and foreign SICAVs.
The company also offers institutional and private pension funds, as well as private wealth and institutional asset management services. For further information, please visit www.animaholding.it.
Contacts: Barabino & Partners | ANIMA - Media relations | ANIMA - Investor relations |
Tel +39.02.72.02.35.35 | Tel +39.02.63.536.410 | Tel. +39.02.63.536.226 |
Emma Ascani | Matteo Tagliaferri | Fabrizio Armone |
e.ascani@barabino.it | matteo.tagliaferri@animasgr.it | fabrizio.armone@animaholding.it |
CONSOLIDATED INCOME STATEMENT
Items (in €/000) | 9M17 | 9M16 | 2016 |
10. Commissions earned | 578,428 | 559,850 | 753,356 |
20. Commissions paid | -400,260 | -378,972 | -499,961 |
NET COMMISSIONS | 178,168 | 180,878 | 253,395 |
40. Interest income and equivalent | 192 | 655 | 753 |
50. Interest expense and equivalent | -3,605 | -4,334 | -5,555 |
60. Net trading result | 5 | 3 | 9 |
70. Net result from hedging | 1 | -729 | -727 |
90. Profit/loss on disposal or repurchase of: | 4 | - | 141 |
a) financial assets | 4 | - | 141 |
BROKERAGE MARGIN | 174,765 | 176,473 | 248,016 |
100. Net write-downs/write-ups on: | - | - | -1 |
a) financial assets | - | - | -1 |
110. Administrative expense: | -53,082 | -58,440 | -74,622 |
a) personnel expense | -30,588 | -35,675 | -43,778 |
b) other | -22,494 | -22,765 | -30,844 |
120. Amortization and depreciation tangible assets | -296 | -288 | -426 |
130. Amortization and depreciation intangible assets | -12,988 | -12,968 | -17,330 |
150. Net provisions for liabilities and charges | -114 | -56 | -1,114 |
160. Other income/expense | 2,994 | 1,085 | 2,256 |
OPERATING RESULT | 111,279 | 105,806 | 156,779 |
170. Profit (loss) from equity investments | 182 | - | -10 |
GROSS PROFIT (LOSS) FROM CURRENT ACTIVITIES | 111,461 | 105,806 | 156,769 |
190. Income tax | -33,114 | -42,544 | -55,589 |
NET PROFIT (LOSS) FROM CURRENT ACTIVITIES | 78,347 | 63,262 | 101,180 |
NET PROFIT (LOSS) FOR THE PERIOD | 78,347 | 63,262 | 101,180 |
RECLASSIFIED CONSOLIDATED INCOME STATEMENT
Items (in €/000) | 9M17 | 9M16 | 2016 |
Net commissions | 156,958 | 159,905 | 211,785 |
Performance fees | 4,526 | 4,989 | 20,607 |
Other income | 17,201 | 16,194 | 21,321 |
Total revenues | 178,685 | 181,088 | 253,713 |
Personnel expense | -26,686 | -26,101 | -33,352 |
Other administrative expense | -21,776 | -22,187 | -29,007 |
Total operating expense | -48,462 | -48,288 | -62,359 |
EBITDA | 130,223 | 132,800 | 191,354 |
Extraordinary charges | -0,749 | -0,627 | -1,600 |
LTIP expense | -3,847 | -9,519 | -10,352 |
Other income/expense | 2,629 | 0,562 | 0,568 |
Tangible and intangible assets depreciation | -13,382 | -13,731 | -18,400 |
EBIT | 114,874 | 109,485 | 161,570 |
Net financial charges | -3,413 | -3,679 | -4,802 |
PBT | 111,461 | 105,806 | 156,768 |
Income tax | -33,114 | -42,544 | -55,588 |
Consolidated net profit | 78,347 | 63,262 | 101,180 |
Net adjustments* | 12,027 | 24,501 | 26,554 |
Adjusted net profit | 90,374 | 87,763 | 127,734 |
*Amortisation of PPA and capitalised financing costs, one-off items as well as extraordinary income or charges (IPO, restructuring, LTIP…)
CONSOLIDATED BALANCE SHEET
ASSETS (in €/000) | 30,09,17 | 31,12,16 | 30,09,16 |
10. Cash 20. Held for trading financial assets 40. Available for sale financial assets
| 6 232 146,475 310,169 52,150 258,019 - 1,381 702,943 22,548 19,840 2,708 28,709 | 6 178 141,694 290,585 74,992 215,593 - 1,176 714,943 59,569 56,599 2,970 32,102 | 7 172 131,702 287,213 48,803 238,410 - 1,830 718,664 28,236 22,576 5,660 28,629 |
TOTAL ASSETS | 1,212,463 | 1,240,253 | 1,196,453 |
LIABILITIES AND SHAREHOLDERS' EQUITY | 30,09,17 | 31,12,16 | 30,09,16 |
10. Payables | 276,433 | 272,143 | 292,734 |
50. Hedging derivatives | 1,947 | 2,266 | 2,857 |
70. tax liabilities | 56,296 | 73,605 | 64,851 |
a) current | 32,808 | 47,710 | 35,391 |
b) deferred | 23,488 | 25,895 | 29,460 |
90. Other liabilities | 35,190 | 54,522 | 33,100 |
100. Employees' severance payment fund | 1,779 | 1,773 | 1,828 |
110. Provision for risks and charges: | 1,125 | 2,166 | 6,663 |
a) for pension and similar obligations | 4 | 70 | 58 |
b) other | 1,121 | 2,096 | 6,605 |
120. Capital | 5,926 | 5,765 | 5,765 |
150. Share premium reserve | 489,200 | 489,200 | 489,200 |
160. Reserves | 264,716 | 236,885 | 236,052 |
170. Evaluation reserves | 1,504 | 748 | 141 |
180. Net profit for the period | 78,347 | 101,180 | 63,262 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 1,212,463 | 1,240,253 | 1,196,453 |
CONSOLIDATED NET FINANCIAL POSITION
Item (in €/000) | 30.09.17 | 31.12.16 | 30.09.16 |
Financing | (180,000) | (180,000) | (180,000) |
Accrued interest expense | (1,060) | (0,010) | (1,053) |
Total financial debt | (181,060) | (180,010) | (181,053) |
Cash and equivalent | 257,796 | 215,233 | 238,327 |
Securities | 146,708 | 141,872 | 131,873 |
Performance fees receivables | 0,675 | 15,813 | 0,893 |
Total cash and equivalent | 405,179 | 372,918 | 371,093 |
Net financial position | 224,119 | 192,908 | 190,040 |
Anima Holding S.p.A. published this content on 10 November 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 November 2017 11:43:06 UTC.
Original documenthttps://www.animasgr.it/EN/InvestorRelations/PressreleasesAndNotices/Press Releases/Comunicato 9M17_ENG.pdf
Public permalinkhttp://www.publicnow.com/view/245B917F372A4D52A9379437B94A6AC5387EDB06
