March 19, 2020 / 7:53 AM / 11 days ago

BRIEF-Tikehau Capital FY Net Result Group Share Swings To Profit Of 178.7 Million Euros

March 19 (Reuters) - TIKEHAU CAPITAL SCA:

* ASSETS UNDER MANAGEMENT OF EUR 25.8 BILLION AT END-31 DECEMBER 2019, UP BY 17% COMPARED TO 31 DECEMBER 2018

* PROPOSED DIVIDEND: EUR 0.50 PER SHARE

* FY NET RESULT - GROUP SHARE OF EUR 178.7 MILLION, UP BY EUR 286.1 MILLION COMPARED TO NET INCOME REPORTED AT END-2018

* CONFIRMATION OF 2022 ORGANIC GUIDANCE TO REACH MORE THAN EUR 35BN IN ASSETS UNDER MANAGEMENT FOR GROUP

* FY OPERATING PROFIT FROM ASSET MANAGEMENT ACTIVITIES OF EUR 58.5 MILLION, A THREEFOLD INCREASE AGAINST END-2018 ON A REPORTED BASIS, AND A 48% INCREASE AT CONSTANT SCOPE

* 2019 NET RESULT GROUP SHARE OF EUR 178.7 MILLION, UP BY EUR 286.1 MILLION COMPARED TO NET INCOME REPORTED AT END-2018

* INVESTMENT ACTIVITY OPERATING PROFIT WAS EUR 199.6 MILLION IN 2019

* AT 31 DEC 2019, CAPITAL’S ASSETS UNDER MANAGEMENT AMOUNTED TO EUR 25.8 BILLION, INCREASE OF EUR 3.8 BILLION OR +17% YEAR-ON-YEAR

* ON COVID-19: THE GROUP IS THEREFORE WELL POSITIONED TO ADDRESS CYCLICAL SHOCKS AND, IN PARTICULAR, CURRENT UNCERTAINTIES ABOUT THE COVID-19 EPIDEMIC WHOSE CONSEQUENCES ARE PRESENTLY DIFFICULT TO ASSESS WITH ACCURACY

* AT 31 DECEMBER 2019, GROUP HAD A GROSS CASH POSITION OF EUR 1,307 MILLION ON A CONSOLIDATED BASIS COMPARED TO EUR 463 MILLION YOY

* IN 2019, TIKEHAU CAPITAL DEPLOYED TOTAL OF EUR 3.6 BILLION IN ITS CLOSED-END FUNDS, INCREASE OF +35% COMPARED TO 2018

* ON COVID-19: STILL TOO EARLY TO DETERMINE THE IMPACT THAT THE CURRENT SITUATION COULD HAVE ON THEIR ACTIVITY AND RESULTS AND, THEREFORE, ON THE PERFORMANCE OF THE FUNDS THROUGH WHICH THESE INVESTMENTS HAVE BEEN MADE

* ON COVID-19: THE FIRST TWO MONTHS OF 2020 HAVE NOT POINTED TO ANY PARTICULAR SLOWDOWN IN COMPARISON WITH THE GROUP’S EXPECTATIONS.

* WILL CONTINUE ITS DEVELOPMENT IN THIS GROWTH SECTOR AND PLANS TO LAUNCH NEW INITIATIVES IN 2020 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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