Evli Bank Plc's Financial Statements 1-12/2015

Helsinki, FINLAND


Evli Bank Plc's Financial Statements 1-12/2015

EVLI BANK PLC STOCK EXCHANGE RELEASE JANUARY 25, 2016, AT 10.00 AM

Evli Bank Plc's Financial Statements 1-12/2015
Profit for the financial year rose by over 60 per cent

January-December 2015

  • The Group's net revenue increased by 8 percent and was EUR 64.2 million (EUR 59.7 million).
  • The Group's operating profit for the financial year was EUR 13.3 million (EUR 9.8 million).
  • Revenue for the financial year increased by over 60 percent and was EUR 12.3 million (EUR 7.7 million). Revenue for the financial year was positively affected by a divestment of business carried out by the associated company Northern Horizon Capital, which generated over EUR 2 million in non-recurring sales profit.
  • Evli's earnings per share were EUR 0.54 (EUR 0.33).
  • A dividend of EUR 0.31 per share is proposed.
  • Net assets under management grew considerably and totaled EUR 9.4 billion at the end of December, including associated companies.
  • Evli Bank's liquidity is good and its capital adequacy remained at a high level.

October-December 2015

  • The Group's net revenue increased by 35 percent year on year and was EUR 18 million (EUR 13.3 million). The revenue for the financial year was positively affected by the performance-based fees received by the company from Wealth Management operations.
  • The Group's operating profit for the review period was EUR 4.0 million (EUR 0.6 million).
  • Earnings per share amounted to EUR 0.26 (EUR 0.02).

Outlook for 2016

The performance of the asset management and capital markets has been strong in recent years, and interest in Evli's services and products is expected to remain stable. In the Corporate Finance business, substantial fluctuations in annual profits are possible. The unit's mandate base was good at the turn of the year. The ratio of Evli's recurring income to expenses improved during 2015, and the income almost covered fixed operating expenses in full. We believe that the result for 2016 will be clearly positive.

KEY FIGURES 10-12/
2015
10-12/
2014
1-12/
2015
1-12/
2014
Sales, M€ 18,6 13,7 66,0 61,5
Net revenue, M€ 18,0 13,3 64,2 59,7
Operating profit / loss, M€ 4,0 0,6 13,3 9,8
Profit / Loss for financial year, M€ 5,4 0,5 12,3 7,7
Operating profit / loss % of net revenue 22,4 4,7 20,6 16,3
Earnings/share (EPS) 0,26 0,02 0,54 0,33
Diluted earnings/share IFRS 0,25 0,02 0,53 0,31
Return on equity % (ROE) *     20,2 15,2
Recurring revenue ratio, %     93 83
Dividend/share     0,21 0,21
Shareholders' equity per share     2,96 2,49
Market value     190,94  
Share price in end of period     8,19  
Personnel in end of period     248 242
*Annualized
**Series A shares are valued at the closing value of the series B shares.

  
Equity-based indicators for the comparison period have been calculated using share amounts adjusted in accordance with a share issue without payment decided upon in the Extraordinary General Meeting of October 1, 2015.

Maunu Lehtimäki, CEO

"I am very pleased with Evli's financial result for the past year. Our profit rose by over 60 per cent on the previous year, and all our business units were clearly profitable.

"Client assets under management by the Wealth Management unit grew substantially and at the end of the year were EUR 9.4 billion including associated companies. Growth in client assets was strong in both private and institutional asset management, and Evli Fund Management Company Ltd received the third-most net subscriptions in Finland and raised its market share to 5.4 percent.

"This year we also expanded the international distribution of Evli's funds by commencing distribution and marketing cooperation in France and by presenting Evli Alternative Investments Ltd's new rental apartment fund EAI Residential I ky. 

"Evli funds' relative performance was strong in 2015, and during the year Evli was selected as Finland's highest-quality and most used institutional asset manager in two independent surveys.

"The markets unit also performed well and grew its profits despite the difficult and competitive operating environment.

"The Corporate Finance unit's year went well despite the decline in revenue, and the unit's mandate base at the end of the year was at a good level. Significant fluctuations in net revenue from one quarter and even one year to the next are typical of this business.

"The past year was significant for Evli in many ways and successful, not least because it was our 30th anniversary, which was topped off by our listing on the main list of the Helsinki Stock Exchange at the end of the year.

EVLI BANK PLC

For additional information, please contact:

Maunu Lehtimäki, CEO, tel. +358 (9) 4766 9304 or +358 (0)50 553 3000, maunu.lehtimaki@evli.com
Juho Mikola, CFO, Evli Bank Plc, tel. +358 (0)9 4766 9871 or or +358 (0)40 717 8888, juho.mikola@evli.com
  
Invitation to investor and analyst meeting

Maunu Lehtimäki, CEO, and Juho Mikola, CFO, will present the preliminary result to investors and analysts in Finnish on Tuesday, January 26, 2016 at 9.00 a.m. at Evli Bank, address Aleksanterinkatu 19 A, 4 fl, Helsinki. The presentation material will afterwards be available in English on Evli's website at www.evli.com > Investors. To participate in the event please sign up in advance by sending an email to communications@evli.com no later than 3 p.m. on Monday, January 25, 2016.


Evli Bank Plc's Financial Review 2015 will be published on Monday, February 15, 2016 at 10 a.m.


Evli Bank Plc in brief

Evli is a genuine private bank specializing in investment that helps private persons and institutions increase their wealth. The company offers asset management services, capital markets related services, such as brokerage of equities and other instruments, market making, investment research and a full range of Corporate Finance services.

Distribution: Nasdaq Helsinki Ltd, main media, www.evli.com


Attachments

Evli Bank Plc 1-12 2015 EN