Evli (EVLI) Q4 2024 earnings summary

Executive summary

• Achieved record high net revenue of EUR 126.8 million and operating profit of EUR 58.2 million for 2024, supported by corporate restructuring and strong performance across business areas.

• Assets under management reached an all-time high of EUR 18.9 billion, driven by strong net inflows in private banking, institutional, and international sales.

• International sales and alternative investment products contributed significantly to growth; M&A market activity remained robust.

• Recognized as Finland's best asset manager by institutional investors and received awards for responsible investing expertise.

• Wealth Management and Investor Clients segment drove growth, while Advisory and Corporate Clients saw lower revenue due to restructuring.

Financial highlights

• Net revenue for 2024 increased 17% year-over-year to EUR 126.8 million; comparable net revenue EUR 109.7 million.

• Operating profit rose 45% year-over-year to EUR 58.2 million; comparable operating profit EUR 43.3 million.

• Profit for the year was EUR 49.9 million, up from EUR 32.0 million in 2023.

• Earnings per share (diluted) at EUR 1.63; Board proposes a dividend of EUR 1.18 per share.

• Recurring revenue ratio reached 132%; capital adequacy at 166.9%.

Outlook and guidance

• Operating environment for 2025 expected to remain uncertain due to geopolitical risks and economic growth concerns.

• Despite challenges, growth is supported by a broad product range and customer base; operating result estimated to remain clearly positive.

• Long-term targets: AUM of EUR 30 billion, EBIT margin of 30%, return on equity of 25%, recurring revenue ratio above 130%.