money-2696219 (1)

DeA Capital

MI: DEA

Market Cap€361.5m

Last Close €1.36

DeA Capital, a De Agostini group company, is Italy’s leading alternative asset manager of real estate, private equity and NPLs, with combined AUM of c €23bn at 30 September 2020. The portfolio, including co-investment in funds managed, investment in the asset management platform and direct investment, amounted to c €338m.

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Investment summary

During the past year, DeA Capital has exploited its financial strength and leading Italian position in alternative asset management (AAM) to grow and internationalise its AAM platform, extend its customer reach and enhance its product capability. The late 2019 agreements with Quaestio Group marked a further important step in this process and, despite COVID-19, the expanded platform has continued to grow AUM organically year to date.

Y/E Dec
Revenue (€m)
EBITDA (€m)
PBT (€m)
EPS (fd) (c)
P/E (x)
P/CF (x)
2018A 102.9 N/A 47.1 4.4 30.8 N/A
2019A 72.7 N/A 16.1 4.7 28.9 N/A
2020E 57.4 N/A (7.2) (0.1) N/A N/A
2021E 71.1 N/A 9.9 2.5 54.2 N/A
Industry outlook

Economic uncertainty remains high as a result of the pandemic and this may affect DeA’s ability to enhance portfolio values and continue to raise funds. On a longer view, the increasing breadth and strength of the AAM platform and balance sheet should leave it well placed to benefit once recovery takes hold.

Last updated on 21/06/2021
Content on DeA Capital
DeA Capital – Expanded platform continuing to grow
Financials | Update | 15 December 2020
stock-1863880
DeA Capital – Quaestio transactions completed
Financials | Update | 10 December 2019
stock-1863880
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Share price graph
Balance sheet
Forecast net debt (€m) 115.8
Forecast gearing ratio (%) 26
Price performance
%
1m
3m
12m
Actual (7.4) (1.2) (8.6)
Relative* (9.2) (6.6) (29.9)
52-week high/low €1.5/€1.0
*% relative to local index
Key management
Lorenzo Pellicioli Chairman
Paolo Ceretti CEO
Manolo Santilli CFO
Anna Majocchi Investor Relations Manager