Inside information, positive profit warning:

United Bankers raises its guidance for 2024 after the successful exit of UB Nordic Forest Fund II LP

United Bankers Plc

INSIDE INFORMATION

4 March 2024 at 17.51 EET

United Bankers Plc raises its financial guidance for 2024 on the adjusted operating profit development.

 

A major contributor to the growing profit is the sale of the UB Nordic Forest Fund II LP, announced by the company today 4 March 2024, agreed upon with MEAG today. UB Nordic Forest Management Ltd, a subsidiary of United Bankers, has acted as the general partner of the fund. UB Nordic Forest Management Ltd records a performance fee of approximately EUR 18 million for the transaction, of which over EUR 10 million will be booked in United Bankers’ operating profit for 2024. The positive earnings effect is subject to the conditions for the transaction being met and the transaction being completed on or around 8 March 2024, whereby the fee becoming due and payable.
 

New guidance for 2024:

The company estimates its adjusted operating profit to increase significantly from 2023 levels.

 

Previous guidance for 2024:

The company estimates its adjusted operating profit to increase from 2023 levels.

 

United Bankers will provide detailed information on its results for the first half of 2024 in its Half-Year Financial Report, which is expected to be published on 23 August 2024.

 

 

Additional information:

Patrick Anderson, CEO, United Bankers Plc
Email: patrick.anderson@unitedbankers.fi
Telephone: +358 400 244 544, +358 9 25 380 236

Investor Relations: ir@unitedbankers.fi

 

United Bankers in brief:

United Bankers Plc is a Finnish expert on wealth management and investment markets, established in 1986. United Bankers Group’s business segments include wealth management and capital markets services. In asset management, the Group specialises in real asset investments. United Bankers Plc is majority-owned by its key personnel and the Group employs 160 employees (FTE) and 31 agents (31 December 2023). In 2023, the United Bankers Group’s revenue totalled EUR 52.1 million and its adjusted operating profit amounted to EUR 16.9 million. The Group’s assets under management amount to approximately EUR 4.6 billion (31 December 2023). United Bankers Plc’s shares are listed on Nasdaq Helsinki Ltd. The Group companies are subject to the Finnish Financial Supervisory Authority’s supervision. For further information on United Bankers Group, please visit www.unitedbankers.fi.

 

 

DISTRIBUTION:

Nasdaq Helsinki

Main media

www.unitedbankers.fi