Eurazeo / 2018 Registration document
GROUP OVERVIEW Financial indicators
Assets under management and Net Asset Value As of December 31, 2018, assets under management break down and are defined as follows:
1
12 /31/2017 PF Idinvest &Rhône
12/31/2018 12/31/2018 PF
%value creation
1 st Eurazeo Capital IV closing
(in millions of euros)
NAV – OPENING BALANCE SHEET Eurazeo Capital
4,058
3,287 2,384
3,287 2,384
+ 3.0% + 10.8 % (9.6 %) + 5.8% + 20.9%
Eurazeo Capital Unlisted Eurazeo Capital Listed ***
2,505 1,553
903 379 481 380
903 379 481
Eurazeo PME
382 320 237
Eurazeo Patrimoine Eurazeo Croissance
380 + 35.6%
Including Eurazeo’s investments in funds managed by Idinvest
-
20 112
20 112
Eurazeo Brands
60
N.A
Eurazeo Development
704 675
874 799
874 + 38.4%
Investments in management companies
799
Investments in funds managed by management companies
29
74
74
+ 8.0 %
TOTAL
(15)
396 428 (37) (60)
396 428 (37) (60)
NET CASH & OTHER ITEMS Cash and cash equivalents Other securities and assets/liabilities Tax on unrealized capital gains
63
(93) (58)
Treasury shares
72
65
65
NAV – OPENING BALANCE SHEET
5,746
5,907
5,907
Number of shares* NAV per share (€)
77,256,640 76,261,650 76,261,650
74.4
77.5
77.5
TOTAL AUM FOR THIRD PARTIES Eurazeo Capital*
730 396
505 362
998 362
Eurazeo PME*
Eurazeo Patrimoine Idinvest* (100%)
45
63
63
6,924 2,683 2,091 1,684 1,389 9,484 466
7,945 2,904 2,428
7,945 2,904 2,428
Debt
Private Fund
Growth Venture
601
601
2,012 1,477
2,012 1,477
Rhône* (30%)
TOTAL AUM FOR THIRD PARTIES
10,353
10,845
TOTAL ASSETS UNDERMANAGEMENT 16,753 * Including uncalled commitments. Eurazeo’s commitments in the Idinvest funds are excluded from Idinvest’s total assets under management (classified in the corresponding divisions) for €69 million 15,230 16,260
**For 2017, the number of shares is adjusted for the 2018 bonus share grant. *** The value adopted is the 20-day average weighted price of the volumes
THE NAV COMPRISES: • Direct investments of Eurazeo Capital, Eurazeo PME, Eurazeo Patrimoine, Eurazeo Croissance and Eurazeo Brands. • Eurazeo Development: enhancement of Eurazeo’s third- party management and investments in Rhône, Idinvest and other platforms. • These assets are valued in accordance with the IPEV methodology. • Net cash and other items (treasury shares, tax on unrealized capital gains, other assets/liabilities).
THE VALUATION OF ASSETS MANAGED FOR THIRD PARTIES COMPRISES: • The fair value of investments managed for third parties by Eurazeo or companies that Eurazeo controls; • The uncalled capital of funds managed for third parties; • The share of assets under management managed by strategic partnerships in which Eurazeo holds a minority interest. Idinvest is therefore integrated for 100% of its assets in line with the company’s full consolidation. The Rhône assets are taken into account for 30%. The valuation methodology for these assets is identical to that used for the funds managed directly by Eurazeo.
Eurazeo
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2018 Registration document
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