STOCKHOLM, April 24, 2020
STOCKHOLM, April 24, 2020 /PRNewswire/ -- "The pandemic is impacting every society and every business across the globe, and this calls for responsible and active ownership. EQT's portfolio companies are also affected, one way or the other, but given our thematic approach, the portfolio remains relatively robust. Furthermore, based on our experience from previous crises, the portfolio companies have prepared for a potential downturn and even though the magnitude of COVID-19 was unpredictable, having contingency plans in place is helping the companies respond faster.
The situation also impacts EQT AB - to which extent depends on timing, scope and when the markets stabilize. Given today's environment, fundraisings can take longer, exits are less likely and the overall investment activity is currently lower. Revenues are expected to be impacted as carry is dependent on exits and increases in unrealized values."
Christian Sinding, CEO
Volatile market environment - thematic portfolio relatively stable in Q1
HIGHLIGHTS DURING THE FIRST QUARTER 2020
HIGHLIGHTS DURING THE LAST TWELVE MONTHS (COMPARED TO LTM ENDING MARCH 2019)
EVENTS AFTER THE REPORTING PERIOD
Presentation of EQT AB's Q1 2020 announcement
EQT AB's Q1 2020 announcement will be published on Friday 24 April 2020 at approximately 07:30 CEST.
A telephone conference will be held at 08:30 CEST. The presentation for the telephone conference will be available on www.eqtgroup.com/shareholders/financial-reporting.
At the telephone conference, Christian Sinding, CEO and Managing Partner, Caspar Callerström, COO, and Kim Henriksson, CFO, will present EQT AB's Q1 announcement, followed by a Q&A session.
To participate, please use the following dial-in details below, at least 10 minutes in advance.
Confirmation Code: 99578002
The telephone conference can be followed live on www.eqtgroup.com/shareholders/financial-reporting and a recording will also be available afterwards.
Information on EQT AB's financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group's financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group's development, EQT will publish quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq's guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors will be published. Finally, EQT will also publish an annual report including sustainability reporting.
This is information that EQT AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:30 CEST on April 24, 2020
EQT is a differentiated global investment organization with a 25-year track-record of consistent investment performance across multiple geographies, sectors and strategies. With strong values and a distinct corporate culture, EQT manages and advises funds and vehicles that invest across the world with the mission to generate attractive returns to the fund investors.
EQT's talent base and network allow it to pursue a thematic investment strategy and distinctive value creation approach, with the aim of future-proofing the companies which EQT invests in, creating superior returns to EQT's investors and making a positive impact with everything EQT does.EQT has more than EUR 62 billion in raised capital since inception, currently around EUR 40 billion in assets under management across 19 active funds within three business segments - Private Capital, Real Assets and Credit. EQT is a thought leader within the private markets industry with deep expertise in responsible and long-term ownership, corporate governance, operational excellence, digitalization and sustainability. EQT has offices in 16 countries across Europe, Asia Pacific and North America with more than 700 employees.The EQT AB group comprises EQT AB (publ) and its direct and indirect subsidiaries, which includes general partners and fund managers of EQT funds as well as entities advising EQT funds.
More info: www.eqtgroup.com
Head of Communications
Shareholder Relations Director
EQT Press Office
EQT Shareholder Relations, firstname.lastname@example.org
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The following files are available for download:
EQT Q1 2020 announcement