Germany · Delayed Price · Currency is EUR PATRIZIA SE Earnings Call Transcripts
Fiscal Year 2026
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EBITDA surged 41% year-over-year and net income more than doubled, driven by improved efficiency, stable AUM, and higher performance fees. Guidance for 2026 is confirmed, with cautious optimism for increased transaction and fundraising activity in H2.
Fiscal Year 2025
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EBITDA rose 35% to EUR 63 million in 2025, with stable AUM and strong cost discipline. Fundraising and transaction activity gained momentum, and 2026 guidance points to further EBITDA and AUM growth, with a continued focus on living and infrastructure strategies.
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Raised 2025 EBITDA and margin guidance after strong nine-month results, with EBITDA up over 500% year-over-year and AUM slightly increasing. Cost discipline, resilient management fees, and sector-focused strategies drive profitability, while market recovery remains slow but steady.
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EBITDA nearly doubled year-over-year in H1 2025, with a 10.9% margin increase and stable AUM at €55.9B. Transaction activity surged, especially in infrastructure, and positive market sentiment is returning, supporting optimism for H2 growth.
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EBITDA rose 11.5% year-over-year in Q1 2025, with margin up to 23.4% and AUM stable at EUR 56.1 billion. Cost reductions improved profitability, while guidance for the year remains unchanged amid positive investment momentum and renewed investor interest in Europe.
Fiscal Year 2024
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2024 saw stabilized AUM valuations, cost reductions, and a focus on infrastructure and living sectors. Guidance for 2025 targets 6% AUM and 11% EBITDA growth, with continued cost efficiency and organic expansion. Dividend is covered by operating cash flow, not EPS.
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AUM remained stable near EUR 56 billion, with strong equity raising and increased transaction activity, especially in infrastructure and value-add real estate. EBITDA fell 73% year-on-year due to lower revenues and one-offs, but cost reductions and a positive Q4 deconsolidation effect are expected to support full-year guidance.
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Announced a new strategy targeting EUR 100 billion AUM by 2030, focusing on five growth areas and organic expansion. H1 2024 saw a 2% AUM decline and 10% revenue drop, with EBITDA supported by one-offs. Guidance remains unchanged, with profitability improvements and market stabilization expected.