Investor Relations
The EQUITA stock
EQUITA, the leading independent investment bank in Italy, is listed on the STAR segment of the Italian Stock Exchange through its parent company EQUITA Group S.p.A. (EQUI, ISIN code: IT0005312027).
After its admission in November 2017 on Euronext Growth Milan (formerly known as AIM Italia), in October 2018 the management completed the translisting to the regulated market by joining the Euronext STAR Milan market - the segment dedicated to mid-sized companies committed to excellence in terms of transparency, liquidity and corporate governance - as promised to investors.
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Latest financial results
Milan, 14 March 2024 - The Board of Directors of EQUITA Group S.p.A. (the “Company” and, together with its subsidiaries, “EQUITA” or the “Group”) approved the draft financial statements of the Company and the consolidated financial statements of the Group as of 31 December 2023.
Andrea Vismara, Chief Executive Officer at EQUITA, commented: “We are so proud of our 2023 results, with growth in Net Revenues (+2%) and Net Profits (+5%). In a difficult year for the investment banking industry, our performance is clear evidence of the Group’s resilience. This allows us to continue to reward our shareholders with a dividend of €0.35 per share, in line with last year, and consolidate our role as a leading independent investment bank assisting entrepreneurs, investors, corporates and institutions”.
“The performance recorded in 2023 shows that the quality of our revenue streams has improved materially since IPO. Today’s business model offers higher visibility compared to the past, significantly reducing the sensitivity of results to market performance and economic cycles, a factor which leads us to look to the future with optimism. We will continue to invest in new strategic initiatives to accelerate our growth and diversification”.
"We expect market conditions to gradually improve in 2024, based on cautiously positive expectations for brokerage, capital markets transactions and M&A volumes. On top of this, we will start to benefit from the investments we have made so far, such as the diversification of the Global Markets offering, the strengthening of the Investment Banking team through senior hires and new areas of expertise, the recent partnerships with senior advisors, as well as the launch of new illiquid funds in Alternative Asset Management".
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Dividends
EQUITA benefits from a particular business model that invests in capital-light initiatives. This allows the Group to use the cash generated from net profits to finance distributions to shareholders, M&A transactions and investments in new initiatives aimed at accelerating organic growth, keeping at the same time strong financial soundness as demonstrated by the rock-solid capital ratios, well above minimum capital requirements.
Figures referred to total dividends and per share dividends distributed since IPO include the 2023 dividend proposal, to be paid out in 2024
Historically, EQUITA has always distributed to shareholders 100% of net profits. Since 2017, following the admission to AIM Italia (today Euronext Growth Milan) and the translisting to Euronext STAR Mial in 2018, the management has decided to retain each year a portion of net profits, to pursue a more conservative approach aimed at promoting increasing dividends and finance potential accretive corporate finance transactions.
Investment Case
EQUITA is the leading independent investment bank in Italy and the go-to partner for investors, listed companies, corporates and financial institutions.
Over the years the Group has diversified significantly its revenue stream by growing in all areas of business, especially in the Investment Banking and Alternative Asset Management divisions.
This diversification has contributed to an increasingly resilient performance and confirmed the ability of EQUITA to consistently deliver net profits, also in particularly challenging periods of volatile markets.
The investment case in 10 simple concepts
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Leadership on the Italian market
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Unique business model
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Diversification and resiliency
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Complementary businesses and cross-selling opportunities
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Flexible cost structure
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Operating leverage and high profitability
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Strong cash generation and rewarding dividends
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Interests aligned to investors
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Successful track-record
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Sustainability integrated into the business model
Sell-side coverage
The EQUITA stock is covered by Intesa Sanpaolo (previously UBI Banca) and Kepler Cheuvreux. Equity reports are available to all investors. Visit the section dedicated to sell-side analysts to access all the reports published.
Know more about the coverage