Van Lanschot Kempen: net profit €125.2 million, with net AuM
inflows at €5.3 billion in 2023
Amsterdam/’s-Hertogenbosch, the Netherlands, 22 February
2024
- Net profit increased to €125.2 million (2022: €84.3
million), mainly on higher commission income, interest income and a
book profit on the sale of a stake in the portfolio of
participating interests
- Net AuM inflows: €5.3 billion, of which Private Clients
€2.3 billion and Wholesale & Institutional Clients €3.1
billion
- Client assets: €145.0 billion (2022: €124.2 billion)
and AuM: €127.6 billion (2022: €107.8 billion)
- Strong capital ratio of 19.6% (2022: 20.6%), well above
17.5% target
- 2023 dividend proposal: €2.00 per share (2022: €1.75
per share)
- Investor Day on 20 June 2024: update on wealth
management strategy and financial targets
Maarten Edixhoven, Chair of the Management Board,
said: “2023 was a good year for Van Lanschot Kempen, with
strong net profit and more than 18% growth in assets under
management (AuM). As well as a positive market performance, this
reflected new assets entrusted to us by both existing and new
clients, and the disciplined execution of our M&A strategy.
“The year was marked by geopolitical tensions, climate change
impacts and economic developments that had a major effect on
consumers, investors, entrepreneurs and society at large. Equity
markets were volatile due to monetary tightening by central banks,
but saw a strong end to the year. Against this backdrop, our
clients sought solutions and advice to help them stay on course for
the long-term. Fixed income returned as an attractive asset class,
while interest in alternative investment solutions remained strong
– an area in which impact is increasingly becoming a third variable
alongside risk and return.
“Private Clients reported strong results in the Netherlands,
Belgium and Switzerland, recording net AuM inflows of €2.3 billion.
In Belgium, our second home market, we achieved solid growth, a
major feat by all colleagues who were meanwhile also working hard
towards the launch of Mercier Van Lanschot on 1 January 2024. This
completed the integration of Mercier Vanderlinden and Van Lanschot
Belgium. The integration of Robeco’s online investment platform and
Evi van Lanschot is likewise proceeding smoothly.
“Our other two client segments reported negative results. Within
Wholesale & Institutional Clients we took additional measures
focused on profitable growth and cost discipline. Net inflows in
this segment were €3.1 billion, mainly generated in the final
quarter of the year. Coupled with rising stock markets, this
created a good starting point for 2024. Investment Banking Clients
experienced a challenging climate for transactions in 2023 due to
rising interest rates, whereas the demand for debt advisory
services remained strong. This client segment also recorded an
upward trend as the year progressed, particularly in capital market
transactions.
“We remain committed to our sustainability targets, both
year-on-year and for the longer term. And we have raised our
ambitions relating to our own organisation. To reduce the carbon
emissions of our AuM – our main impact – and those of our mortgage
portfolio, we continue to engage with our clients and the companies
we invest in.
”I’m looking forward to giving an update on our independent
wealth management strategy during our Investor Day in June. Our
results clearly demonstrate that we delivered on this consistently
in 2023, with a focus on scalable growth while preserving the
personal approach that makes us stand out. I’m incredibly proud of
all our people who make this possible each and every day, and would
also like to thank our clients and shareholders for the trust that,
once again, they put in us in 2023.”
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 2023 full-year results at vanlanschotkempen.com/results. In a
conference call on 22 February at 9.00 am CET, we will discuss our
2023 full-year results in greater detail. This may be viewed live
at vanlanschotkempen.com/results and played back at a later
date.
ADDITIONAL INFORMATION For additional
information, go to vanlanschotkempen.com/financial.
FINANCIAL CALENDAR30 April 2024
Publication of
first-quarter 2024 trading update23 May 2024
Annual General Meeting (AGM)27
May
2024 Ex-dividend
date4 June 2024
2023 dividend payment date 20 June 2024
Investor Day22 August
2024 Publication of 2024
half-year results 1 November 2024
Publication of third-quarter 2024 trading update
Media
Relations Maud
van GaalT +31 20 354 45
85 mediarelations@vanlanschotkempen.com
Investor
Relations Judith
van TolT +31 20 354 45 90
investorrelations@vanlanschotkempen.com
About Van Lanschot KempenVan Lanschot Kempen is
an independent, specialist wealth manager active in private
banking, 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. Through our
long-term focus, we create positive financial and nonfinancial
value. Listed at Euronext Amsterdam, Van Lanschot Kempen is the
Netherlands’ oldest independent financial services company, with a
history dating back to 1737.
For more information, please visit vanlanschotkempen.com
Important legal information and cautionary note on
forward-looking statementsThis 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 annual accounts are prepared in accordance
with International Financial Reporting Standards, as adopted by the
European Union (“IFRS-EU”). In preparing the financial information
in this press release, except as described otherwise, the same
accounting principles are applied as in the 2022 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
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