Results in the first nine months evidenced continued strong performance across all businesses and regions, with net revenues of €204.4m (+82.6% YoY).
Investment Banking generated its highest net revenues of €136.4m (+81.2%), reflecting strong market momentum.
In Asset Management, revenues increased by 75.5% to €34.3m, driven by steady growth in fee-earning assets under management (+16.6%) and success fees (€13.2m) generated in H1.
Credit Portfolio Advisory generated revenues of €33.5m (+110.1%) due to a recovery of NPL deal activity.
All regions delivered superior results, with six markets (France, Germany, Spain, Switzerland, the UK and the US) contributing at least €15m in revenues.
Operating expenses amounted to €152.3m (+64.4% YoY) due to higher retribution (+240.9%) driven by strong business performance.The Group continued to invest in the growth of the business, increasing fixed personnel expenses and other operating expenses by 8.6% and 36.3%, respectively.
As a result, net profit attributable to the parent reached €36.0m (+139.4% YoY), of which €36.7m (+158.2%) correspond to the fee business, €0.4m to the portfolio and -€1.1m to other results.
Alantra maintains its strong balance sheet, with €276.0m of shareholders’ equity attributable to the parent; €220.3m in cash, cash equivalents and a monetary fund; €53.6m portfolio of investments in products managed by the Group; and no financial leverage.
The Board of Directors has approved the payment of an additional €0.35 per share, which will be paid on 12 November 2021.Factoring the dividend of €0.40 per share paid in May 2021, the Group will fully distribute the 2020 consolidated net profit (€0.75 per share).
The Investment Banking division advised on 147 transactions (+79.2%) worth c. €16.8bn year-to-date and continued to strengthen its specialized global offering by hiring five senior professionals. Noteworthy transactions include the partnership between Foster+Partners and Hennick & Company; the acquisition of three businesses of the Chinese-listed company Saurer in Europe by the Swiss-listed company Rieter; the sale of Hairburst to JD Sports; the divestment of Aryzta’s operations in North America (to Lindsay Goldberg for €850m) and Brazil (to Grupo Bimbo); and advising in four transactions for global ceramic sanitaryware and fittings producer Roca Group, including the sale Tile division to Grupo Lamosa for $260m. As a result of this performance, Alantra ranked as the #1 Independent advisor to PE in Europe and #3 Independent advisor in Europe by the number of deals advised.
Alantra launched four new strategies in Asset Management and achieved superior returns. The Firm increased capital commitments in its Real Estate Debt (€132m), Energy Transition (€81m), Solar Energy (€40m); and Global Technology (€34m) strategies. Alantra also announced the incorporation of Daniel Gálvez to head its Real Estate practice.
Alantra’s Credit Portfolio Advisory division has advised on 39 transactions (+77.2%) worth over €39.8bn, including advising Alphabank on the second-largest rated NPE securitization in Europe (Project Galaxy, €10.8bn); Eurobank on the third-largest rated NPE securitization in Greece (Project Mexico, €5.2bn); Cajamar on the largest NPL sale in Spain since the outbreak of COVID19 (€500m); and UniCredit on the sale of a €500m unsecured NPL portfolio in Italy.
