CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki, Finland.
Asset managers' results declined sharply during the first half of the year. However, underlying factors include challenges in the real estate market and a decline in performance fees, and the operational development shown below has been largely positive. The outlook for the sector is positive, and as long as geopolitical risks remain in the background, companies in the sector are poised for robust earnings growth in the second half of the year.
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CapMan’s operative performance in Q2 on comparable basis was decent, although the operating profit fell below estimates due to fair value changes. With the addition of the Real Asset Debt investment area, the AUM growth in the near term is considerable...
The Q2 report did not offer any major surprises, and the clear earnings miss was entirely attributable to investment portfolio returns. We have not made changes to our forecasts and expect a significant earnings improvement in the coming years. For bottom-line growth to materialize, successful new sales are required, and the company has a clear opportunity to demonstrate this during the rest of the year.
CapMan's Q2 2025 results were largely in line with our expectations, with fee income declining slightly against a strong comparison period and adjusted EBIT (EUR 3.4m) a notch higher than we had expected. While positive fair value changes of EUR 1.9m...
CapMan’s Q2 results were decent, but the operating profit fell below expectations largely due to lower than estimated fair value changes, at EUR 2.5m in Q2 (EUR 4.7m/6.0m Evli/cons.). Turnover was somewhat in line with expectations, although management...
CapMan’s Q2 fee income of EUR 13.9m declined -7% y/y and was fairly in line with our estimate of EUR 13.6m. Fee profit of EUR 1.3m declined by 51% y/y against a strong comparison and came clearly below our estimate of EUR 2.5m. We note that personnel...
Ahead of CapMan's Q2 2025, we make slight revisions to our estimates, mainly reflecting the CAERUS Debt Investments acquisition which is expected to close in Q3 2025. On the group level, we raise adjusted EBIT by 1-5% for 2025E-27E, mainly driven by ...
The early part of the year has been moderate for asset management companies. Although stock prices are near their all-time highs in many places and interest rates have been in clear decline, market sentiment has been cautious, especially due to geopolitical tensions. Companies in the sector describe the early-year sentiment as mostly expectant. At the same time, however, the general tone of the comments has been cautiously positive.
CapMan announced yesterday that it has acquired a majority stake in the German-based real estate debt specialist CAERUS Debt Investments AG At the same time, CapMan will launch a new investment area “Real Asset Debt” Although the transaction is relatively small for CapMan (earnings impact of a few percent), the acquisition is clearly strategic, as it provides CapMan with access to a new asset class and market.
CapMan has acquired the majority (51%) of German based real estate debt specialist CAERUS Debt Investments AG, and thus launching a new investment area “Real Asset Debt”, which acts as support for the company’s real asset driven strategy. Currently CAERUS...
