Evli Bank Plc’s Financial Statements bulletin 2017

25.01.2018

Evli Bank Plc's Financial Statements Bulletin 2017: Operating profit nearly doubled

  • The operating profit of the Wealth Management and Investor Clients segment rose almost 130 percent as a result of increased fees from fund management
  • The operating profit of the Advisory and Corporate Clients segment increased over 80 percent and the market position improved
  • In the Group Operations segment, return from investment activities improved nearly 25 percent on the comparison period.
     

January-December 2017

  • The Group's net revenue increased 19 percent to EUR 71.4 million (1-12/2016: EUR 60.0 million)
  • The Group's operating profit was EUR 21.3 million (EUR 11.1 million)
  • Evli's diluted earnings per share were EUR 0.69 (EUR 0.40) and return on equity was 25.5 percent (14.3%)
  • A dividend of EUR 0.52 per share is proposed (EUR 0.40 per share)
  • Net assets under management totaled EUR 11.2 billion (EUR 10.6 billion) at the end of December
  • The proportion of recurring revenue to operating costs improved to 113 percent (94%).
     

October-December 2017

  • The Group's net revenue was EUR 21.0 million (EUR 15.9 million)
  • The Group's operating profit almost doubled to EUR 6.5 million (EUR 3.3 million)
  • Earnings per share amounted to EUR 0.21 (EUR 0.07).

 
Outlook for 2018

The risks associated with the general trend in the equity and fixed income markets have increased along with high valuation levels especially in US equities and corporate bonds with a lower rating. A decline in equity prices or a weakening of investors' risk appetite would have a negative impact on the company's performance. Demand for Evli's products has remained stable and assets under the Group's management have grown substantially in recent years, softening the result-impact of any reversal of the market.

The performance of the Advisory and Corporate Clients segment has been positive and the outlook for 2018 is stable. Investment activities through Evli's own balance sheet and lending have been increased in 2017 according to plan. In the advisory business and in own investment activities, substantial fluctuations in annual returns are possible.

Thanks to successful and stable development in 2017, we estimate that our result for the financial year 2018 will be clearly positive.

 

Evli Bank Plc’s Financial Statements 2017 (PDF)