ABC arbitrage: Results 2021: €28 M€
22 March 2022 - 05:00PM
ABC arbitrage: Results 2021: €28 M€
Press release - Paris, March 22, 20221
- 07h00
ABC arbitrage
2021 Results: €28 M€
2021 ROE: 17.5% - 2021 Distributions:
€0.40
The Board of Directors of ABC arbitrage,
presided by the Chairman Dominique Ceolin, met on March 17, 2022 to
approve the consolidated financial statements for fiscal year
2021.The financial data are as follows:
|
Dec. 31, 2021 IFRS |
Dec. 31, 2020 IFRS |
Dec. 31, 2019 IFRS |
Net revenues |
€64.1m |
€68.8m |
€37.2m |
Net income |
€28.0m |
€35.1m |
€18.3m |
Earnings per share (EPS) |
€0.48 |
€0.60 |
€0.31 |
Return On Equity (ROE) |
17.5% |
23.9% |
12.8% |
Business Performance - After an
atypical year in 2020 from a health and economic point of
view, the year 2021 is characterized by a return to a certain
normality of the financial market parameters.
- Volatility in 2021 is back to its historical average of 20%
compared to 29% in 2020.
- The M&A market showed a strong dynamic, notably exceeding
in the first half 2021 its highest levels of 2016.
- The successive waves of COVID, unevenly spread over the various
geographical areas, have generated statistically rare situations
with unfavorable decorrelation for some of the group's
activities.
- The group increased its client assets by €144 million (+39%) to
reach €512 million at 31/12/2021.
The group has once again demonstrated its
know-how by outperforming this market context. ABC arbitrage thus
achieved one of its best results ever with a ROE of nearly 18%.
Dividend Policy - A quarterly
distribution policy has been in place for over two years.
- Distribution of €0.10 per share in October
2021;
- Distribution of €0.10 per share in December
2021;
- Interim dividend of €0.10 per share on April
20, 2022 for payment on April 22;
- Proposition at the General Meeting of June 10, 2022 of a final
dividend of €0.10 per share;
- If the meeting votes in favor of this final dividend, the total
distribution for fiscal year 2021 will be €0.40
per share, i.e. a distribution rate of more than 80%.
Retained earnings will be invested in the
development of new products with significant profitability
prospects. The terms and timetable of this final dividend will be
presented at a later date.
Outlook - It is important to
contextualize this outlook with respect to events in Ukraine.After
a 10 year record of almost uninterrupted increase in equity
indices, this war could prevent a return to normalized financial
markets. Faced with the potential impacts of this war and despite
the fact that inflation is off the charts, central banks could
delay their exit from support programs. The major difference with
2020 is, for the time being, the strong decorrelation of markets
between geographical areas, with the US economy seemingly less
affected than Europe.
- The start of capital flight from Europe to seemingly safer
areas may make it more difficult to achieve the group's objectives
for the development of its assets under management in 2022.
- This situation also means a return to a period of sustained
volatility despite the presence of accommodative monetary policies,
and probably for several months. This should benefit a large part
of the group's activities.
- After a quiet month of January, the average pace of activity in
the first quarter is close to 80% of the average pace for the 2021
financial year,on a rising trend that should continue with the
recent increase in volatility.
In a year 2022 that promises to be complex from
a geopolitical point of view, ABC arbitrage, by recording its 27th
positive fiscal year, confirms that it has all the assets to
produce performance consistent with current volatility and is
therefore pursuing its recruitment and investment objectives to
achieve the ambitions of its ABC 2022 strategic plan.
1 At this date, the audit procedures carried out
by the statutory auditors are still in progress.
Contacts:
abc-arbitrage.comRelations actionnaires:
actionnaires@abc-arbitrage.comRelations presse: VERBATEE /
v.sabineu@verbatee.com |
EURONEXT Paris - Compartiment BISIN:
FR0004040608Reuters BITI.PA / Bloomberg ABCA
FP |
ISIN : FR0004040608
Reuters BITI.PA / Bloomberg ABCA
FP
- 2022 ABCA CP Resultats 2021 VEnglish
Abc Arbitrage (LSE:0OPJ)
Historical Stock Chart
From Feb 2024 to Mar 2024
Abc Arbitrage (LSE:0OPJ)
Historical Stock Chart
From Mar 2023 to Mar 2024