Investment Income At EUR 4.4 Mln

Patrizia SE

13/11/2023 17:03

Nov 13 (Reuters) - PATRIZIA SE  PATGn.DE :
    * 9M 2023 RESULTS: RESILIENT AUM AND SOLID THIRD QUARTER
PERFORMANCE – MANAGEMENT ADJUSTS COST BASE TO PREPARE FOR A
LONGER AND SLOWER MARKET RECOVERY AND TO INCREASE RECURRING
PROFITABILITY
    * 9-MTH RECURRING MANAGEMENT FEES CONTINUED TO GROW BY 2.0%
TO EUR
187.7M (9M 2022: EUR 184.1M)
    * ASSETS UNDER MANAGEMENT (AUM) CONTINUE TO SHOW RESILIENCE
AT EUR
58.2BN (31.12.2022: EUR 59.1BN; -1.7% Y-T-D AND +0.4% Q-O-Q)
SUPPORTED BY NEW ASSETS ACQUIRED FOR CLIENTS
    * 9-MTH NET SALES REVENUES AND CO-INVESTMENT INCOME DECLINED
TO
EUR 4.4M (9M 2022: EUR 7.9M)
    * 9-MTH NET OPERATING EXPENSES INCREASED BY 2.9% TO EUR
182.5M (9M
2022: EUR 177.4M)
    * PATRIZIA'S MANAGEMENT EXPECTS A MUTED Q4 OF 2023
    * 9-MTH TOTAL SERVICE FEE INCOME TO EUR 228.3M (9M 2022: EUR
248.3M; -8.1%)

Source text for Eikon:  ID:nEQ49L5zwa 
Further company coverage:  PATGn.DE 

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