Published: 7.00 CEST

• Net profit up to €74.5 million (H1 2023: €51.8 million), with all client segments contributing positively to profit
• Commission income up 23%
• Strong commercial momentum continued, with net AuM inflows totalling €5.7 billion
• Client assets grew to €156.8 billion (2023: €144.8 billion) and AuM rose to €139.3 billion (2023: €127.3 billion)
• Strong capital ratio of 18.8% (2023: 19.6%); “Basel IV fully-loaded” capital ratio of 18.5%

 

Maarten Edixhoven, Chair of the Management Board, said: “We look back on a very strong first half of 2024, with net profit rising 44% to €74.5 million. Favourable stock market conditions encouraged more investment by clients and contributed to robust net inflows in assets under management (AuM). The first half of the year demonstrated the success of our focus on scalable growth coupled with a personal approach – which we translated into ambitious targets for 2027 under our ‘Growing further together’ strategy, as presented at our Investor Day on 20 June 2024.

 

“Private Clients Netherlands saw strong results with €1.8 billion in net AuM inflows, as both current and new clients entrusted us with more of their assets. I’m delighted to welcome additional private bankers and specialists to our team. Their expertise will help us maintain our personalised approach and support clients through every phase of their business and personal lives. Research conducted in conjunction with Nyenrode Business University and RSM revealed that nearly 30% of family-owned companies in the Netherlands are in the process of transferring ownership. Solid wealth planning provides insight, peace of mind and flexibility – which we’re able to offer thanks to our breadth of expertise.

 

“In Belgium, Mercier Van Lanschot continues to grow at a rapid pace, with AuM rising by 25% to €13.7 billion in the first six months of the year. The completion of the Accuro acquisition has further boosted our advisory management offering in Belgium, complementing our discretionary services.

 

“Investment Management Clients recorded pre-tax profits of €13.5 million in the first half of 2024, proof that our focus on cost savings and commercial strength in the past few years is paying off. Several new clients opted for our fiduciary services in the Netherlands and the United Kingdom in the first half of 2024, ensuring healthy net AuM inflows.

 

“Investment Banking Clients achieved pre-tax profits of €3.0 million. After a challenging 2023, the market for mergers, acquisitions and capital market transactions is improving – and we are benefiting from this. We acted as advisers to clients on a range of high-profile transactions, including the sale of Dutch company GW Crossmedia and capital increases at Denmark’s Zealand Pharma and France’s Argan.

 

We have further reduced our carbon footprint in line with our sustainability targets. The largest contributor herein is the carbon reduction in our investments. In addition to maintaining our focus on the energy transition, we will be directing our efforts in the second half of the year towards implementing new sustainability regulations and on the reporting of our impact in terms of biodiversity.

 

“Thanks to our disciplined growth strategy, our capital and liquidity positions remain strong and ahead of our targets. As for the second half of 2024, I look forward to making further progress on the path we’ve embarked on. In the midst of geopolitical turbulence and major transitions, we’re keeping our focus firmly on the long term for our clients.”

 

Performance report / Presentation / Webcast

For a detailed discussion of Van Lanschot Kempen’s results and balance sheet, please refer to our performance report and presentation on the 2024 half-year results at Financial results. In a conference call on 22 August at 10.30 am CET, we will discuss our 2024 half-year results in greater detail. This may be viewed live and played back later.

 

Financial calendar

31 October 2024 - Publication of third-quarter 2024 trading update

27 February 2025 - Publication of 2024 annual results

 

More information

Media Relations: +31 20 354 45 85; mediarelations@vanlanschotkempen.com
Investor Relations: +31 20 354 45 90; investorrelations@vanlanschotkempen.com