(Teleborsa) – Equita Group closed the first half of the year with a consolidated net profit of 11.4 million euros, more than doubled (+ 123%) compared to 5.1 million the previous year. The post-tax margin stood at 25%, thanks also to a tax rate of 23%, down compared to the same period of 2020 (29%), due to the benefits deriving from the redemption of goodwill and the use of previous tax losses for Equita K Finance.
I consolidated net revenues result up 58% compared to the previous year to 46.1 million euros. Net revenues from customer-facing activities – i.e. excluding Management Trading activities and the impacts as at 30 June 2021 related to the Group’s Investment Portfolio for Alternative Asset Management activities – grew by 30% to 39.3 million.
“We are particularly satisfied with the results achieved in this first part of the year,” said the Chief Executive Officer Andrea Vismara, adding “the first six months of 2021 represent the strongest half-year since the listing, the result of the diversification strategies and the unique positioning of the Group in all business areas”.
The Consolidated Net Equity as of June 30, 2021 is equal to 88.3 million euros. The average return on Tangible Equity (ROTE) stood at 39% and the prudential requirements on the capital were well above the new limits required by the applicable legislation.
Per financial year 2021, the management of Equita expects a positive trend of the results of the Group with Consolidated Net Revenues and Consolidated Net Profit growing compared to the previous year, always closer to the 2022 objectives defined in the three-year strategic plan announced in November 2019. Considering that the Group’s capital requirements are well beyond above limits, there is believed to be “room for new opportunities for the use of capital, from investment in new products e extraordinary finance operations at the remuneration of shareholders“. The Quondi Board of Directors “will evaluate the dividend policy in light of the positive results expected for the year 2021 and the new prudential requirements on capital” with a dividend “expected to grow significantly compared to what distributed during 2021 ″ (0.20 euro).