Patrizia SE (PAT.F), a German investment manager, on Monday reported a preliminary net profit for the full year. Martin Praum, CFO of Patrizia SE, said: "We managed our cost-base very effectively in 2024 and will continue to focus on our platform efficiency to advance the earnings quality and profitability of our business in 2025."
For the 12-month period, the company registered a net income of 12.6 million euros, compared with a net loss of 4.3 million euros of last year. Earnings before taxes were 3.3 million euros as against a loss of 9.7 million euros.
EBITDA improved to 45.1 million euros from the prior year's loss of 43.6 million euros. EBITDAR moved down to 56 million euros from 59.4 million euros a year ago.
Assets under Management, or AUM, were down at 56.4 billion euros, compared with 57.3 billion euros a year ago.
Total service fee income was 264.1 million euros, down from last year's 312.4 million euros. Management fees stood at 228.4 million euros, lower than 251.1 million euros in 2023.
For the full-year 2024, Patrizia has proposed a dividend of 0.35 euro per share, up 2.9 percent from last year.
Looking ahead, for the full-year 2025, the company expects EBITDA of 40 to 60 million euros with an improved underlying earnings quality of its core business in 2025.
Patrizia expects annual AUM of 58 to 62 billion euros, driven by a more favorable market environment, with greater appetite for investments in real estate and infrastructure potentially leading to higher investment volumes.
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