EAB Group Oyj: EAB Group Plc's net profit percentage for first half of 2022 will be significantly positive, and net profit percentage for full year 2022 also expected to be significantly positive
EAB Group Plc, Inside information, Stock Exchange Release, 10 June 2022, 1:45 p.m. (EET)
EAB Group Plc's net profit percentage for first half of 2022 will be significantly positive, and net profit percentage for full year 2022 also expected to be significantly positive
EAB Group Plc (EAB, Company) gives preliminary information of both its' January-June and full-year net profit percentage. The net profit percentage for January-June 2022 is expected to become significantly positive. The full-year net profit percentage is also expected to be significantly positive (earlier clearly positive) in case the market environment does not significantly worsen during the rest of the year.
When communicating the 2021 financials on 11 February 2022, EAB stated that the full-year 2022 net profit percentage is expected to be clearly positive given that the market environment stays favorable. The Company's business has continued to develop well during the beginning of the year both in terms of its on-going business as well as a consequence of some sale of assets from real estate funds and thus, based on this positive development, the net profit percentage for January-June will be significantly positive. Due to the tightening of the capital markets and clearly lower valuations compared to last year, the ongoing fees are somewhat lower from fixed income and equity funds and from mandates. However, the overall development of the business exceeds earlier expectations. The Company has also succeeded in retaining its' planned cost level. Based on this the Company expects that the full-year net profit percentage will be significantly positive.
EAB publishes its' half-year report for the period of 1.1.-30.6.2022 on Friday 5 August 2022.
EAB GROUP PLC
Board of Directors
Further information:
EAB Group Plc
Daniel Pasternack, CEO
+358 50 569 3416
daniel.pasternack@eabgroup.fi
Therese Cedercreutz, Chair of the Board
+358 40 544 2502
therese.cedercreutz@miltton.com
Elite Alfred Berg offers responsible investment and asset management services for private investors, institutions, and professional investors. Elite Alfred Berg is the marketing name of the EAB Group. The Group's parent company EAB Group Plc's shares are listed on the Nasdaq Helsinki stock exchange. The Group companies include EAB Asset Management Ltd, which offers asset management activities, and EAB Fund Management Ltd, which acts as a fund company and authorised alternative investment fund manager. The Group's customer base consists of individuals and corporations that are served nationwide in 13 different locations. The Group employs 89 investment professionals, and more than 20 tied agents provide its services. On behalf of its clients, the Group manages assets of EUR nearly 4 billion. Explore EAB Group's services at www.eabgroup.fi.
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