financial results full year 2011 29. february 2012
TRANSCRIPT
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1
Financial Results
Full Year 2011
29. February 2012
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Key facts
� During the business year 2011 Renta 4 completed all necessary legal and regulatory
procedures for the transformation to Renta 4 Banco at the beginning of January 2012
� Net profit for 2011 reached 4.6 million Euros, 23.7% less than in the business year 2010.
The decline is mainly attributable to the transformation of Renta 4 from being a financial
services firm to Bank. The extraordinary expenses amounted to 1.5 million Euros and are
fully reflected in the administration, personnel and general expenses
� Both gross and net commission income grew year-on-year by 5.7% and 4.3% respectively
� Renta 4 closed the year 2011 with assets under management and administration of 5,578
million Euros compared to 5,205 million Euros at the end of 2010 and 179,311 client
accounts; the highest level in the history of the Company
� Net asset inflow during the year amounted to 633 million Euros compared to 278 million
Euros in 2010. This confirms the growing acceptance of the business model of Renta 4
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Main Financial Figures
Financial data (miles euros) Dec. 11 Dec. 10 %
Gross Margin 41.843 40.387 3,6%
Comisiones Received 55.217 52.281 5,6%
Interest Margin 3.606 2.234 61,4%
Result of Financial Operations 1.888 2.809 -32,8%
Administration expenses -29.800 -27.049 10,2%
Result of Operation 6.600 8.413 -21,5%
Net Profit 4.588 6.010 -23,7%
Earnings per Share 0,12 0,15 -23,7%
�The gross margin ascended by 3.6% during the business year 2011
�The interest margin grew by 61.4% year-on-year and reached 3.6 million Euros
�Results of financial operations and the returns on financial assets summed 2.3 million Euros,declining by 29.7% year-on-year.
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4
Operating Data
�The assets under management, custody and care summed 5,578 million Euro compared to 5,205 million euros in 2010, while the overall number of investment accounts reached 179.311 - an all time high of the Company
�Net asset inflow during the year amounted to 633 million Euros compared to 278 million Euros in 2010.
Operating Data Dic. 11 Dic. 10 %
Customers 179,311 156,183 14.8%
Renta 4 network 48,574 46,365 4.8%
Third party 130,737 109,818 19.0%5,578 5,205 7.2%
Total assets under custody (€ mill.) 5,578 5,205 7.2%
Stocks 3,609 3,410 5.8%
Mutual Funds 817 790 3.4%
Pension Funds 292 254 15.0%
SICAVs 481 495 -2.8%
Others 369 256 44.1%
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Development Of Client Assets (Q1- 2010 – Q4 - 2011)
Assets under management, custody and care
Euro billion
5,018
4,865
5,093
5,205
5,677
5,793
5,347
5,578
4,5
4,6
4,7
4,8
4,9
5
5,1
5,2
5,3
5,4
5,5
5,6
5,7
5,8
mar-10 abr-10 may-10 jun-10 jul-10 ago-10 sep-10 oct -10 nov-10 dic-10 ene-11 f eb-11 mar-11 abr-11 may-11 jun-11 jul-11 ago-11 sep-11 oct -11 nov-11 dic-11
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Asset Inflow and Market Effect (Q1/2010 – Q4/2011)
131
223
-153
293
228
278
112
276
472409
116
558
-446
633
-412-500
-300
-100
100
300
500
mar-10 abr-10 may-10 jun-10 jul-10 ago-10 sep-10 oct -10 nov-10 dic-10 ene-11 feb-11 mar-11 abr-11 may-11 jun-11 jul-11 ago-11 sep-11 oct -11 nov-11 dic-11
Market Effect on Total Assets
Asset Inflow
In million Euros
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Renta 4 Gestora – Growth exceeding the Market
Source: INVERCO
-24%
-30%
28%
-3%
-22%
-15%
16%
-7%
-35%
-25%
-15%
-5%
5%
15%
25%
35%
2008 2009 2010 2011
Renta4 Gestora
Spanish Mutual Fund Market
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69,08262,58563,966
78,166
164,495
65,920
27,876 34,681
0
50
100
150
2004 2005 2006 2007 2008 2009 2010 2011
Equity
Strong Balance Sheet
8
Renta 4 maintained the trend of last years strengthening its equity.
€ Thousand
Valuation effect BME stake
•Share Delivery Plan
•Shareholders’ payment of an issue premium
kind
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� We expect markets to stay difficult and very volatile during 2012
� In this context we hope to grow our activity and our profit both due to the new bank license, the new business lines added and the higher assets under management and administration compared to last year.
� Renta Banco has a solvency ratio of 17% doubling the percentage required by European regulation.
� Renta 4 is considering 2012 the year of bringing its activity to international markets. For that purpose Renta 4 established in Dublin, Ireland an umbrella company “Renta 4 Investment Funds PLC” aiming at a mayor international acceptance of its funds and facilitating the access for international investors. Renta 4 closed during 2011 agreements with distributors in France and Germany. Additionally, Renta 4 opened an office in Santiago de Chile and will start activities in Latin America.
Market Situation & Outlook
Next Event:
4. May 2012, First quarter 2012 Results
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Ivo Kratschmer | Investors RelationsTel.: +34 913 848 856 | Fax: +34 913 848 [email protected] | www.renta4.com