Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Sweden
  4. Nasdaq Stockholm
  5. EQT AB (publ)
  6. News
  7. Summary
    EQT   SE0012853455

EQT AB (PUBL)

(EQT)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

EQT () : Half-year Report 2021

07/22/2021 | 01:01am EDT

Healthy performance and expanding palette of active ownership strategies

"EQT delivered healthy performance during the first six months of 2021 and made good progress in key strategic areas, all in alignment with our thematic and purpose-driven philosophy. We strengthened our market position and accelerated our wider societal ambitions. The combination with Exeter Property Group was completed, which positions EQT among the largest value-add real estate investment managers in the world. Furthermore, we continued to expand the palette of investment strategies, both within Private Capital and Real Assets, introducing longer-hold strategies to further align interests with value-driven investors and to enable impact at scale. EQT offers active ownership strategies to support businesses throughout all stages of a company's lifecycle.

In terms of deal activity, EQT continued to leverage favorable market conditions, its thematic approach and strong investment capacity. As a result, we increased the investment activity, but we had an even more notable rise in exits. Our fundraising efforts also developed well.

EQT is the first private equity firm in the world to issue a sustainability-linked bond. The bond will increase our flexibility and is yet another example of how EQT integrates sustainability across our business. To ensure we continue to perform and deliver on our high ambitions within sustainability and ESG, we have strengthened our team with additional expertise and appointed Bahare Haghshenas to assume the overall responsibility for sustainability, as Global Head of Sustainable Transformation.

It's been a busy time for our staff. We continue to invest in talent and nurture our culture while adding people to support our growth journey."

Christian Sinding,

CEO and Managing Partner

Please note that all figures refer to continued operations, excluding Credit, unless stated otherwise. Exeter's contribution to financials are included as of time of closing i.e. 1 April 2021.

Highlights for the period Jan-Jun 2021 (Jan-Jun 2020)

  • Adjusted total revenue amounted to EUR 711m (EUR 261m), corresponding to an increase of 172% compared to H1 2020. Total revenue (according to IFRS) was EUR 709m (EUR 264m). The increase was driven by management fees (including so called retroactive fees) from EQT IX and EQT Infrastructure V, the combination with Exeter as well as an increase in carried interest and investment income
  • Adjusted EBITDA amounted to EUR 492m (EUR 80m), corresponding to a margin of 69% (31%). EBITDA was EUR 437m (EUR 79m), corresponding to a margin of 62% (30%)
  • Adjusted net income amounted to EUR 433m (EUR 60m). Net income (according to IFRS) was EUR 361m (EUR 59m)
  • Reported basic earnings per share of EUR 0.372 (EUR 0.062). Diluted earnings per share of EUR 0.372 (EUR 0.062)
  • Net debt amounted to EUR 113m
  • EQT completed the combination with Exeter Property Group, which is now integrated with EQT Real Estate under a joint EQT Exeter brand. The combination positions EQT among the largest value-add real estate investment managers in the world
  • EQT Private Capital introduced a longer-hold impact at scale strategy, with Anticimex as its first investment
  • EQT, as the first private equity firm in the world, issued a sustainability-linked bond, raising EUR 500m
  • Assets under management (AUM) increased to EUR 71.3bn (EUR 36.5bn), primarily driven by the combination with Exeter with AUM of EUR 10.4bn and by EQT IX and EQT Infrastructure V with AUM of EUR 15.6bn and EUR 15.1bn respectively, as of 30 June 2021
  • EQT set the target fund size for EQT Growth at EUR 2.0bn. Fundraising was initiated in Q2 and the fund started generating management fees at the end of the period
  • Preparations for a longer-hold Infrastructure Core strategy in EQT's Real Asset segment as well as for EQT's new APAC strategy continued
  • Total investments by the EQT funds amounted to EUR 7.7bn (EUR 1.9bn)
  • Total gross fund exits increased to EUR 9.9bn (EUR 0.2bn)
  • Private Capital and Real Assets expect to continue to execute on a strong pipeline of potential investments and exits, should market conditions remain supportive
  • The number of full-time equivalent employees and on-site consultants (FTE+) increased and amounted to 1,004 (699) at the end of the period, of which FTEs were 938 (651). Exeter accounted for 229 FTE+, of which FTEs were 222
  • EQT strengthened its team by adding further sustainability expertise through senior appointments
  • In order to future-proof EQT and be ready for the continued growth journey, investments in personnel across investment strategies and the central functions will increase

Events after the reporting period

  • Investment and exit activity after the reporting period includes the investments in Parexel (EQT IX), Covanta Holding Corporation, Cypress Creek Renewables, Meine Radiologie Holding, Blikk Holding (EQT Infrastructure V) and the sale of Igenomix (EQT VIII), Fertin Pharma (EQT Mid Market Europe), Iver (EQT Mid Market Europe) and Unilode Aviation Solutions (EQT Infrastructure II)
  • Investment level in key funds as of 22 July 2021 were 55-60% in EQT IX and 50-55% in EQT Infrastructure V
  • EQT Exeter Europe Logistics Value Fund IV held final close at its hard cap with EUR 2.1bn in fee-generating commitments

Presentation of EQT AB's Half-year Report 2021

Financial analysts and media are invited to participate in a conference call, including a presentation at 08:30 CEST.

The presentation and a video link to follow the conference call live can be found here and a recording will be available afterwards.

To participate by phone, please use the following dial-in details below, at least 10 minutes in advance.

Sweden: +46 856 642 651
UK: +44 3333000804
USA: +1 6319131422

Confirmation Code: 38004925

Information on EQT AB's financial reporting

The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group's financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.

The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group's development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq's guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.

Contact

Kim Henriksson, CFO, +46 8 506 55 300
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
Nina Nornholm, Head of Communications, +46 70 855 03 56

EQT Shareholder Relations, shareholderrelations@eqtpartners.com
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

This is information that EQT AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CEST on 22 July 2021.

About EQT

EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of delivering consistent and attractive returns across multiple geographies, sectors and strategies. Uniquely, EQT is the only large private markets firm in the world with investment strategies covering all phases of a business' development, from start-up to maturity. EQT today has approximately EUR 71 billion in assets under management across 27 active funds within two business segments - Private Capital and Real Assets.

With its roots in the Wallenberg family's entrepreneurial mindset and philosophy of long-term ownership, EQT is guided by a set of strong values and a distinct corporate culture. EQT manages and advises funds and vehicles that invest across the world with the mission to future-proof companies, generate attractive returns and make a positive impact with everything EQT does.

The EQT AB Group comprises EQT AB (publ) and its direct and indirect subsidiaries, which include general partners and fund managers of EQT funds as well as entities advising EQT funds. EQT has offices in 24 countries across Europe, Asia-Pacific and the Americasand has more than 1,000 employees.

More info: www.eqtgroup.com

Follow EQT on LinkedIn, Twitter, YouTube and Instagram

https://news.cision.com/eqt/r/eqt-ab--publ--half-year-report-2021,c3386984

https://mb.cision.com/Main/87/3386984/1447420.pdf

https://news.cision.com/eqt/i/half-year-report-2021,c2937770

(c) 2021 Cision. All rights reserved., source Press Releases - English

All news about EQT AB (PUBL)
10/21EQT, Vitruvian Partners Invest in Specialist Insurer CFC
DJ
10/21EQT : FlixBus owner hitches ride with Greyhound as FirstGroup exits
RE
10/21EQT : Joins Vitruvian Partners to Invest in Insurance Provider CFC
MT
10/21EQT : Private Equity and Vitruvian Partners announce significant investment in CFC
AQ
10/20Exclusive-EQT seeks 4 billion euros for Polman-advised impact-driven fund
RE
10/20EQT : Launches Longer-Hold Fund, Eyes $4.66 Billion In Funding
MT
10/20EQT : Posts Increase in September AUM Amid Higher Total Investments
MT
10/20EQT () : Q3 announcement 2021
AQ
10/20EQT : launches impact-driven longer-hold fund
AQ
10/20EQT Invested EUR7.7 Billion in 3Q, Assets Under Management Up 51%
DJ
More news
Analyst Recommendations on EQT AB (PUBL)
More recommendations
Financials
Sales 2021 1 401 M 1 629 M 1 629 M
Net income 2021 793 M 922 M 922 M
Net cash 2021 729 M 848 M 848 M
P/E ratio 2021 56,2x
Yield 2021 0,83%
Capitalization 43 026 M 50 028 M 50 027 M
EV / Sales 2021 30,2x
EV / Sales 2022 25,8x
Nbr of Employees 938
Free-Float 31,6%
Chart EQT AB (PUBL)
Duration : Period :
EQT AB (publ) Technical Analysis Chart | EQT | SE0012853455 | MarketScreener
Technical analysis trends EQT AB (PUBL)
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Last Close Price 43,61 €
Average target price 40,11 €
Spread / Average Target -8,02%
EPS Revisions
Managers and Directors
Christian Otto Sinding Chief Executive Officer & Managing Partner
Kim Henriksson Chief Financial Officer
Yngve Conni Jonsson Chairman
Caspar Mats Andreas Callerström Chief Operating Officer & Deputy CEO
Edith W. Cooper Independent Director
Sector and Competitors