(Boursier.com) — Tikehau fell 0.5% to 21.60 euros this Thursday, while the group announced a record level of net collection at €6.5 billion over 2023, an amount 37% higher than the 2017-22 average. The group highlights the 13% increase in assets under management in the asset management business over 12 months, which reached €42.8 billion as of December 31, 2023, representing average annual growth of 26% since 2016.
Solid performances were achieved through value-creating divestments across all asset classes, supported by expansion and recognition of the franchise at a global level, which represents 54% of net inflows from investors international.
The group also highlights the 11% increase in assets generating management fees and which will generate them in the future, thus securing additional income in the long term. Core Fee-Related Earnings (Core FRE) stands at €123 million, representing growth of 13% over 12 months, representing a margin of 39.4%.
The dividend proposal is 0.75 euros per share, up 7% compared to 2022
The growing contribution of Tikehau Capital’s strategies to the income generated by the investment portfolio should also be noted for a net result of 177 ME (Group share) in 2023, including 105 ME in the second half of 2023 (i.e. growth of 144% compared to in the second half of 2022). The dividend proposal is 0.75 euros per share, up 7% compared to 2022.
Quoting…
Tikehau Capital says it is “ideally positioned to continue its growth trajectory”:
*A solid balance sheet that accelerates growth, with €3.1 billion invested in Tikehau Capital’s strategies;
*A promising collection pipeline across all asset classes;
*Confirmation of objectives for 2026, with the additional objective of reaching approximately 500 ME in net profit, Group share.
Among the latest broker opinions, SG retains Tikehau Capital with an adjusted price target of 25 to 23.50 euros.
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