Quercus (QRS) Q3 2024 earnings summary

Executive summary

• Revenue for the 9 months ended 30 September 2024 reached PLN 100,774 thousand, up 44% year-over-year.

• Net profit for the period was PLN 24,750 thousand, a 99% increase compared to the same period in 2023.

• Operating profit rose to PLN 19,541 thousand, up from PLN 7,299 thousand year-over-year.

• Assets under management/distribution grew to PLN 11.3 billion, compared to PLN 8.4 billion a year earlier.

• No significant changes in group structure or extraordinary events occurred during the period.

Financial highlights

• Operating revenue: PLN 100,774 thousand (PLN 69,892 thousand in 2023).

• Net profit: PLN 24,750 thousand (PLN 12,432 thousand in 2023).

• Earnings per share: PLN 0.45 (PLN 0.22 in 2023).

• Cash flow from operations: PLN 13,764 thousand (PLN 5,958 thousand in 2023).

• Total assets: PLN 182,422 thousand (PLN 157,198 thousand in 2023).

Outlook and guidance

• Future results depend on market conditions, including stock market performance and interest rates.

• Investment performance and regulatory environment remain key factors for upcoming quarters.