Trading update and Capital Markets presentation
9 March 2023
Alpha Financial Markets Consulting plc
('Alpha FMC' or 'Alpha' or the 'Group')
Trading update and Capital Markets presentation
Ahead of expectations
Alpha FMC (AIM: AFM), a leading global provider of specialist consultancy services to the Asset Management, Wealth Management and Insurance industries, is pleased to provide the following trading update ahead of its virtual Capital Markets presentation for institutional investors and investment analysts later today.
Trading update
The Board is delighted with the continuing strong performance of the Group and now expects to report full year FY23 results significantly ahead of current market expectations.
Positive trading conditions in the second half of the year and ongoing client demand globally have again allowed the Group to deliver strong double-digit organic net fee income growth compared to the prior year. Adjusted EBITDA has also grown well with margins remaining consistent. Particularly good progress was seen in Alpha's North America region, including Lionpoint which continues to trade strongly. Looking ahead, the Group continues to successfully deliver good sales wins and has maintained its strong opportunity pipeline.
Capital Markets presentation
The Capital Markets event will be hosted by Euan Fraser, CEO and Luc Baqué, CEO designate. The event will include presentations by senior executives to outline the Group's attractive growth opportunities across market segments and geographies to drive further profitable growth over the mid-term, and set out the aim to double the Group's net fee income over the next 5 years while maintaining a consistent Adjusted EBITDA margin profile.
A copy of the presentation slides will be available on the company website after the event at http://investors.alphafmc.com/reports-and-presentations.
Euan Fraser, Global Chief Executive Officer, commented:
"I am delighted with the Group's performance since our IPO in 2017. In little more than 5 years, our fantastic team has created a truly global business and almost quadrupled profits delivering value to all stakeholders.
Since our Interim Results in November, the Group has continued to perform very well and enjoying strong client demand in asset management and insurance consulting across all our major geographic regions, with North America continuing its excellent performance. We end FY23 significantly ahead of expectations and with a strong balance sheet. We remain mindful of the inflationary backdrop and geopolitical uncertainties and remain positive that the underlying industry trends and our market leading reputation will continue to drive demand globally for our services.
It has been an incredible honour to have led the Group for the last ten years. It is an extremely talented and ambitious global team, and with a clear strategy focused on long-term growth we are very well positioned for the future."
Luc Baqué, Chief Executive Officer designate, also commented:
"The Group has enjoyed great success since listing having more than tripled the number of consultants and now operates from twice the number of offices across the globe. This achievement is derived from our high-quality teams delivering for our growing client base. I would like to thank Euan for his excellent leadership over the last decade; it is a privilege to take on the role of CEO and to build on the Group's success.
As we look ahead, we continue to see more opportunities to further expand the Group's offering and geographic reach. We set out today our vision to double again the Group's net fee income over the next 5 years, including both organic growth and through selective acquisitions, while maintaining a consistent Adjusted EBITDA margin profile. With such an outstanding group of employees, I look forward to our continued success, for our clients, employees and shareholders."
Alpha FMC expects to report its full year results for the year ended 31 March 2023 on Thursday, 22 June 2023.
E nquiries :
For further information, please contact:
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Alpha Financial Markets Consulting plc |
+44 (0)20 7796 9300 |
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Euan Fraser (Global Chief Executive Officer) Luc Baqué, (Chief Executive Officer designate) John Paton (Chief Financial Officer) |
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Investec Bank plc - Nominated Adviser, Joint Corporate Broker |
+44 (0)20 7597 4000 |
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Patrick Robb James Rudd Harry Hargreaves |
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Berenberg - Joint Corporate Broker |
+44 (0)20 3207 7800 |
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Chris Bowman Toby Flaux James Thompson Alix Mecklenburg-Solodkoff |
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Camarco - Financial PR |
+44 (0)20 3757 4980 |
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Edward Gascoigne-Pees Phoebe Pugh |
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Prism Cosec - Company Secretary |
+44 (0)7407 733 518 |
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Sally Chandler |
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The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
About Alpha FMC:
Headquartered in the UK and quoted on the Alternative Investment Market of the London Stock Exchange, Alpha is a leading global provider of specialist consultancy services to the asset management, wealth management and insurance industries.
Alpha has worked with all of the world's top 20 and 80% of the world's top 50 asset managers by AUM, along with a wide range of other buy-side firms. It has the largest dedicated team in the industry, with over 900 consultants globally, operating from 16 client-facing offices spanning the UK, North America, Europe and APAC.
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