ALANTRA GENERATED REVENUES OF €80.6m (-1.4% YOY) AND ORDINARY NET PROFIT OF €12.0 MILLION (-5.7% YOY) IN H1 2020.
Net revenues reached €80.6m, 1.4% lower than the first half of 2019. Investment Banking and Credit Portfolio Advisory revenues grew by 17.7% and 2.2%, respectively. In Alternative Asset Management, revenues from management fees reached €11.8m (-6% YoY). The absence of performance fees (vs. €6.2m in H1 2019) and a change in the consolidation perimeter, by which Alantra WM is consolidated under the equity method since June 2019, drove total net revenues in this division to fall by 45.7% YoY.
Net revenues in the first half showed a strong diversification, with 28% of the revenues generated in Spain, 29% in the rest of the Eurozone, 26% in the UK, and 17% in Other Markets.
Net profit attributable to the parent reached €11.1m, which represents a 48.7% decrease compared to the first half of 2019, when €8.9m of extraordinary results were reported mainly related to the sale of a stake in Alantra Wealth Management. Leaving aside the effect of extraordinary results, ordinary net profit reached €12.0m, 5.7% lower YoY.
Alantra further strengthens its financial position. As of June 30, 2020, the Group had €247.2m of shareholders equity attributable to the parent, €161.3m in cash, cash equivalents and cash invested in a monetary fund, and no financial leverage.
The Board of Directors will propose to the Annual Shareholders’ Meeting, that will take place in October, the payment of a €0.44 per share dividend. This implies the full payout of the 2019 consolidated profits.
Alantra’s response to COVID-19. Most Alantra professionals have returned to the office, working through a hybrid model which combines office and home-based working. To ensure this happens in a safe environment, Alantra has designed comprehensive protocols covering periodic testing, personal protection equipment, and the redistribution of its office space to ensure protection and social distancing.
As part of the response to the current challenges posed by COVID-19, Alantra, its partners and professionals, and the members of its Board of Directors have donated over €400,000 to acquire equipment for a public project led by the Foundation Medical University Essen (Germany) and the Wuhan Union Hospital (China); as well as acquiring two high-performance robots for molecular diagnosis donated to a laboratory belonging to the Spanish National Research Council (CSIC).
High level of activity despite a challenging scenario. During the first half of 2020, Alantra’s Investment Banking division advised on 60 transactions. Alantra is ranked as the #5 independent advisor in Europe and #2 independent advisor in the global buyouts ranking, according to Mergermarket.
The Credit Portfolio Advisory division advised on 11 transactions, including the largest Greek NPL securitisation to-date (Project Cairo) with a total GBV of €7.5bn. Additionally, five senior professionals joined the division to strengthen its European operations and two new offices were announced (China and Brazil).
In Alternative Asset Management, Alantra and Grupo Mutua closed the transaction by which Grupo Mutua becomes a partner of reference of Alantra Asset Management to accelerate its growth plan. Fee-earning assets under management from the direct investment business stood at €1.9bn as of June 30, 2020.
Nuevos informes y series de datos: El Capital riesgo Informal en España 2020 / Informe de Impacto Económico y Social del Capital Privado en las operaciones de Middle Market en España. 2018 (ASCRI) / Informe de Impacto Económico y Social de los préstamos otorgados por Enisa
Otros informes destacados: Madurez del Venture Capital en España. (English version)/ Financiación de startups de Energía en España / El tiempo de las desinversiones en Private Equity en España (English version)