EQT's Net Profit More Than Doubles
By Cristina Gallardo
Private-equity company EQT reported an increase in its net profit for the first half of the year, but warned exit volumes are still subdued.
The Swedish buyout firm said Thursday that its net profit reached 282 million euros ($308.5 million) in the six months ended June 30, compared with EUR120 million a year earlier.
It also reported an adjusted revenue of EUR1.09 billion, compared with a consensus forecast of EUR1.18 billion according to Visible Alpha.
The company said its fee-generating assets had increased to EUR133 billion, from EUR132 billion as of March 30.
EQT added that it has raised EUR16.2 billion for its flagship fund Infrastructure VI, which has a target size of EUR20 billion. The company has about EUR50 billion of total capital to invest, it said.
The firm pointed out that political uncertainty in the first half of the year has had a knock-on effect on dealmaking, with exit volumes being particularly affected.
However, EQT said it expects the fundraising market to gradually improve, and it is preparing for an increase in the number of exits over the next 12 months.
Write to Cristina Gallardo at cristina.gallardo@wsj.com
(END) Dow Jones Newswires
July 18, 2024 01:47 ET (05:47 GMT)
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