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DeA Capital (DEA)

Business description

DeA Capital, a De Agostini group company, is one of Italy’s leading players in alternative investments and asset management. At 30 June 2018, it had alternative assets under management of c €11.2bn and an investment portfolio of c €387m.

Stock data

Market cap.€394.9m
Last close€1.29
High / Low (52 weeks)€1.6 / €1.2
Stock market listingMI
Forecast net debt (€m)N/A
Forecast gearing ratio (%)N/A

Price performance

Relative *12.515.314.7

* % Relative to local index

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Company news

Italy's DeA Could Net Double-Digit Returns from Restaurant Chain Sale

Thu, 09 Nov 2017 14:03:45 GMT

BRIEF-Dea Capital Says Kenan Investments Sells Stake in Migros

Mon, 18 Dec 2017 09:22:30 GMT

DeA Capital SpA (BIT:DEA)'s Book to Market Holding Steady at 1.202456

Wed, 16 May 2018 11:37:30 GMT

BC Partners gets Migros Turk – the supermarket, not the condition

Thu, 14 Feb 2008 10:43:40 GMT

Australia's Ramsay Health to buy majority of France's Generale de Sante

Wed, 11 Jun 2014 03:45:40 GMT

Investment summary

DeA Capital experienced slightly weaker assets under management (AUM) in H118, driven by Q2 liquidation of real estate assets by maturing funds, but management expects this to reverse in H2. The returns on co-investment in funds managed were very positive, generating NAV gains and strong cash flow to support the continuation of attractive distributions and further investment in growth of the alternative asset management (AAM) platform. The shares are yielding more than 9% and trade at a discount of more than 30% to our adjusted NAV of €1.91 per share.

Last updated on 10/10/2018

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2016A 80.8 N/A 12.7 4.7 27.4 17.7
2017A 72.8 N/A (25.9) (4.5) N/A 3.7
2018E 116.5 N/A 61.6 9.4 13.7 2.7
2019E 78.6 N/A 23.5 6.0 21.5 12.8

Last updated on 10/10/2018

Latest video

Executive Interview - DeA Capital

Industry outlook

Low interest rates support demand for alternative assets, while fund maturities and other divestments are supporting cash flow for reinvestment and distributions to shareholders, even after meeting outstanding investment commitments.

Last updated on 28/09/2018

Key management

Lorenzo Pellicioli, Chairman
Paolo Ceretti, CEO
Manolo Santilli, CFO
Anna Majocchi, Investor Relations Manager

Company address

Via Brera, 21
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