Business remains well placed to benefit from changing industry dynamics
London/Madrid/Amsterdam - Allfunds Group plc ('Allfunds' or the 'Company') (AMS: ALLFG) one of the world's leading B2B WealthTech platforms for the fund industry, offering fully integrated solutions for both fund houses and distributors, today releases preliminary results for the year ended 31 December 2024.
Key highlights
• Leading platform with multiple AuA growth engines. Allfunds' total assets under administration ('AuA') increased 13% year-on-year to a record €1,558 billion, demonstrating the ability to drive organic growth.
• Excluding Discontinued Operations(1), AuA reached €1,503 billion AuA (17% growth), with Platform Service AuA surging 22%:
- Sustained flows from existing clients(2): €29 billion, with net flows accelerating towards the end of the year
- Record new client migrations(3) of €73 billion
• Strong structural growth across the entire business:
- Record revenues of €632 million, growing 16% year-on-year (18% excluding D.O.)
- All revenue lines growing at double-digit rates
- Subscription business revenues growing at 13% year-on-year to €67 million and representing 11% of total revenues, driven by the new integrated sales measures implemented
• Operating leverage leading to exceptional profitability:
- Record Adjusted EBITDA of €422 million, with an increase of 18% year-on-year (21% excluding D.O.) and implying an Adj. EBITDA margin of 67% (66% excluding D.O.)
- Record Adjusted Profit After Tax of €253 million, a 16% increase year-on-year (22% excluding D.O.), demonstrating the operating leverage of the business
- Positive jaws, increasing Adj. EBITDA margin by c.100 bps
• Strong cash generation supports an increased dividend payout ratio and a new share buyback, showing commitment to shareholder returns. Additional €130m of additional CET1 capital released through reduction in Credit Risk RWAs.
- Continuing to invest in the future of the company, and in parallel, seeking the best risk adjusted returns for shareholders to deploy excess cash generated
- Seeking approval at Allfunds' next AGM to distribute a €80 million dividend, increasing the payout ratio further to 32% (DPS growth of 40%), as well as to launch a €250 million share buy-back program to be executed up to two years.
• Upcoming Capital Markets Day, scheduled for early Q4 2025, to be held in London, featuring deep-dives on the business and the launch of the new proprietary Allfunds ETP platform, which is on track for delivery in 2025.
Juan Alcaraz, Chief Executive Officer and Founder, said:
"2024 was an extraordinary year for Allfunds, and I'm delighted that today we announce record AuA, record revenues and record profits. This growth underscores our innovation, resilience, and the trust placed in us by our clients and shareholders. It demonstrates that Allfunds is an essential part of the wealth ecosystem, thanks to
the leading platform we have built that generates increasingly diversified revenue and exceptional cashflow. We have taken strategic decisions to ensure Allfunds remains well positioned to take advantage of changing market dynamics over the long-term. Looking ahead, we have an exciting pipeline of solutions and products to meet the ever-evolving needs of our clients, continue to take market share, and drive sustainable growth. Throughout, our commitment to delivering outstanding shareholder returns remains unwavering, and I'd like to express deep gratitude for the continued support and trust from our shareholders. We are excited about the future, and confident that our strategic initiatives will deliver value for all our stakeholders."
Read the full press release here:
https://allfunds.com/en/investors/financial/financial-reports/
London/Madrid/Amsterdam - Allfunds Group plc ('Allfunds' or the 'Company') (AMS: ALLFG) one of the world's leading B2B WealthTech platforms for the fund industry, offering fully integrated solutions for both fund houses and distributors, today releases preliminary results for the year ended 31 December 2024.
Key highlights
• Leading platform with multiple AuA growth engines. Allfunds' total assets under administration ('AuA') increased 13% year-on-year to a record €1,558 billion, demonstrating the ability to drive organic growth.
• Excluding Discontinued Operations(1), AuA reached €1,503 billion AuA (17% growth), with Platform Service AuA surging 22%:
- Sustained flows from existing clients(2): €29 billion, with net flows accelerating towards the end of the year
- Record new client migrations(3) of €73 billion
• Strong structural growth across the entire business:
- Record revenues of €632 million, growing 16% year-on-year (18% excluding D.O.)
- All revenue lines growing at double-digit rates
- Subscription business revenues growing at 13% year-on-year to €67 million and representing 11% of total revenues, driven by the new integrated sales measures implemented
• Operating leverage leading to exceptional profitability:
- Record Adjusted EBITDA of €422 million, with an increase of 18% year-on-year (21% excluding D.O.) and implying an Adj. EBITDA margin of 67% (66% excluding D.O.)
- Record Adjusted Profit After Tax of €253 million, a 16% increase year-on-year (22% excluding D.O.), demonstrating the operating leverage of the business
- Positive jaws, increasing Adj. EBITDA margin by c.100 bps
• Strong cash generation supports an increased dividend payout ratio and a new share buyback, showing commitment to shareholder returns. Additional €130m of additional CET1 capital released through reduction in Credit Risk RWAs.
- Continuing to invest in the future of the company, and in parallel, seeking the best risk adjusted returns for shareholders to deploy excess cash generated
- Seeking approval at Allfunds' next AGM to distribute a €80 million dividend, increasing the payout ratio further to 32% (DPS growth of 40%), as well as to launch a €250 million share buy-back program to be executed up to two years.
• Upcoming Capital Markets Day, scheduled for early Q4 2025, to be held in London, featuring deep-dives on the business and the launch of the new proprietary Allfunds ETP platform, which is on track for delivery in 2025.
Juan Alcaraz, Chief Executive Officer and Founder, said:
"2024 was an extraordinary year for Allfunds, and I'm delighted that today we announce record AuA, record revenues and record profits. This growth underscores our innovation, resilience, and the trust placed in us by our clients and shareholders. It demonstrates that Allfunds is an essential part of the wealth ecosystem, thanks to
the leading platform we have built that generates increasingly diversified revenue and exceptional cashflow. We have taken strategic decisions to ensure Allfunds remains well positioned to take advantage of changing market dynamics over the long-term. Looking ahead, we have an exciting pipeline of solutions and products to meet the ever-evolving needs of our clients, continue to take market share, and drive sustainable growth. Throughout, our commitment to delivering outstanding shareholder returns remains unwavering, and I'd like to express deep gratitude for the continued support and trust from our shareholders. We are excited about the future, and confident that our strategic initiatives will deliver value for all our stakeholders."
Read the full press release here:
https://allfunds.com/en/investors/financial/financial-reports/
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