Van Lanschot Kempen: net profit €48.2 million and €4.9 billion in net AuM inflows in H1 2022
25 August 2022 - 7:30AM
Van Lanschot Kempen: net profit €48.2 million and €4.9 billion in
net AuM inflows in H1 2022
Amsterdam/’s-Hertogenbosch, the Netherlands, 25 August 2022
- Net profit
€48.2
million (H1
2021:
€58.3
million),
underlying net profit
€60.7
million (H1 2021:
€59.2
million)
- Client assets:
€118.5
billion (2021:
€131.2
billion) and
AuM:
€99.6
billion (2021:
€112.1
billion)
- Net AuM inflows at
Private Clients:
€1.4
billion and at Wholesale
& Institutional Clients:
€3.5
billion
- Strong capital ratio
at
20.2%
(2021:
23.7%),
decrease driven by steeper capital
requirements for residential
mortgages
- Capital return proposal in the amount of
€1.50
per share
Maarten Edixhoven,
Chair of the Management Board, said: “In the first
six months of the year geopolitical tensions, inflation and rising
interest rates caused more uncertainty in financial markets. In
these circumstances we ensure we stay close to our clients by
intensifying our contacts even further. Our existing and new
clients maintained confidence in investing their wealth, as
evidenced by strong total net inflows of €4.9 billion in assets
under management. We’re seeing inflows both in the private as
institutional segments.
“Earlier in the year, we enhanced our financial and
non-financial targets and capital strategy. We continue to focus on
further profitable growth with full energy, both organic and
inorganic, while maintaining a capital-light balance sheet. In
addition, we’ve made good progress on implementing our
sustainability strategy and developing our new inclusion &
diversity policy.
“I’d like to take this opportunity to thank our colleagues for
their commitment that enabled us to achieve this solid result in
the first half of the year. I’m proud of their engagement and
dedication to our clients – which they also appreciate greatly. I
also want to thank our clients for their trust.”
Client assets
and assets under management Total
client assets decreased in the first half year in the wake of the
negative market performance to €118.5 billion (2021:
€131.2 billion). Net assets under management (AuM) inflow was
high, at €4.9 billion. Due to the negative market performance of
€17.5 billion, overall AuM decreased to €99.6 billion (2021: €112.1
billion).
Net AuM inflows in the Private Clients remained robust, with
€1.4 billion in the first half of the year. Net AuM inflows at
Wholesale & Institutional Clients amounted to €3.5 billion.
Client savings rose slightly to €11.9 billion (2021: €11.7
billion).
Results in the first half of
2022 Net profit was €48.2 million (H1 2021: €58.3
million). The decrease was mainly the result of a €9.9 million
provision related to an interest-rate derivatives case, as reported
in our Q1 trading update in May of this year.
Commission income was up 15% to €201.3 million (H1 2021: €175.7
million), partly as a result of the acquisition of a 70% stake in
Belgian wealth manager Mercier Vanderlinden. Interest income fell
to €69.7 million (H1 2021: €76.1 million), mostly due to lower
margins on mortgages and reduced revenues from early repayment
fees.
Operating expenses rose €19.2 million to €216.0 million (H1
2021: €196.8 million). This increase was partly due to the Mercier
Vanderlinden acquisition (around €6 million), as anticipated, and
to higher staff costs. In the years ahead, we will continue to
invest to achieve future growth.
PERFORMANCE
REPORT/PRESENTATION/WEBCAST
For a detailed discussion of Van Lanschot Kempen’s results and
balance sheet, please refer to our performance report and
presentation on the 2022 half-year results at
www.vanlanschotkempen.com/results. In a conference call on 25
August at 9:00 am CET, we will discuss our 2022 half-year results
in greater detail. This is available for live viewing at
www.vanlanschotkempen.com/results and can be played back at a later
time.
ADDITIONAL
INFORMATION For additional
information, go to
vanlanschotkempen.com/financial.FINANCIAL
CALENDAR6 October 2022
Extraordinary general meeting4 November
2022 Publication of
2022 third-quarter trading update 23 February
2023 Publication of
2022 full-year resultsMedia
Relations: +31
20 354 45 85;
mediarelations@vanlanschotkempen.comInvestor
Relations: +31
20 354 45 90;
investorrelations@vanlanschotkempen.com
About Van Lanschot KempenVan
Lanschot Kempen is a wealth manager active in Private Banking,
Professional Solutions, Investment Management and Investment
Banking, with the aim of preserving and creating wealth, in a
sustainable way, for both its clients and the society of which it
is part. As a sustainable wealth manager with a long-term focus,
Van Lanschot Kempen proactively seeks to prevent negative impact
for all stakeholders and to create positive long-term financial and
non-financial value. Listed at Euronext Amsterdam, Van Lanschot
Kempen is the Netherlands’ oldest independent financial services
company, with a history dating back to 1737. To fully leverage the
potential of the Van Lanschot Kempen organisation for its clients,
it provides solutions that build on the knowledge and expertise
across its entire group and on its open architecture platform. Van
Lanschot Kempen is convinced that it is able to meet the needs of
its clients by offering them access to the full range of its
products and services across all its businesses.
For more information, please visit vanlanschotkempen.com
Important legal information and cautionary note on
forward-looking statements This press release may contain
forward-looking statements and targets on future events and
developments. These forward-looking statements and targets are
based on the current insights, information and assumptions of Van
Lanschot Kempen’s management about known and unknown risks,
developments and uncertainties. Forward-looking statements and
targets do not relate strictly to historical or current facts and
are subject to such risks, developments and uncertainties which by
their very nature fall outside the control of Van Lanschot Kempen
and its management. Actual results, performances and circumstances
may differ considerably from these forward-looking statements and
targets.
Van Lanschot Kempen cautions that forward-looking statements and
targets in this press release are only valid on the specific dates
on which they are expressed, and accepts no responsibility or
obligation to revise or update any information, whether as a result
of new information or for any other reason.
Van Lanschot Kempen’s semi-annual accounts are prepared in
accordance with IAS 34 (Interim Financial Reporting), as adopted by
the European Union. In preparing the financial information in this
press release, except as described otherwise, the same accounting
principles are applied as in the 2021 Van Lanschot Kempen
consolidated annual accounts. The figures in this press release
have not been audited. Small differences are possible in the tables
due to rounding. Percentages are calculated based on unrounded
figures.
This press release does not constitute an offer or solicitation
for the sale, purchase or acquisition in any other way or
subscription to any financial instrument and is not a
recommendation to perform or refrain from performing any
action.
Elements of this press release contain information about Van
Lanschot Kempen NV within the meaning of Article 7(1) to (4) of EU
Regulation No. 596/2014.
This press release is a translation of the Dutch language
original and is provided as a courtesy only. In the event of any
disparities, the Dutch language version will prevail. No rights can
be derived from any translation thereof.
- Van Lanschot Kempen press release HY 2022
Van Lanschot Kempen NV (EU:VLK)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Van Lanschot Kempen NV (EU:VLK)
Historical Stock Chart
Von Apr 2023 bis Apr 2024