Allfunds Group today (4 March) reported record adjusted EBITDA of €422m, with an increase of 18% year-on-year in its preliminary results for the year ended 31 December 2024.
Its total assets under administration increased 13% year-on-year to a record €1,558bn, with Platform Service AUA surging 22%.
Existing client net flows of €29bn saw acceleration towards the end of the year and there were record new client migrations of €73bn.
Growth was primarily driven by the expansion into key markets, including Central and Northern Europe, Asia, and the Americas.
"This success is largely attributed to a focus on mid-sized clients, complemented by a few exceptional 'big whales' from the UK. These strategic efforts have significantly contributed to a robust performance and market presence, and represent sustainable growth avenues", Allfunds said.
Record revenues of €632m grew 16% year-on-year with all revenue lines growing at double-digit rates.
Subscription business revenues increased at 13% year-on-year to €67m and representing 11% of total revenues, driven by the new integrated sales measures implemented.
Allfunds further reported record adjusted profit after tax of €253m, a 16% increase year-on-year.
It is also seeking approval at its next AGM to distribute a €80m dividend, increasing the payout ratio further to 32%, as well as to launch a €250m share buy-back program to be executed up to two years.
Allfunds further flagged the planned launch of its new proprietary ETP platform, which is on track for delivery in 2025.
Juan Alcaraz, chief executive officer and founder, said: "2024 was an extraordinary year for Allfunds, and I’m delighted that today we announce record AuA, record revenues and record profits.
"This growth underscores our innovation, resilience, and the trust placed in us by our clients and shareholders. It demonstrates that Allfunds is an essential part of the wealth ecosystem, thanks to the leading platform we have built that generates increasingly diversified revenue and exceptional cashflow.
"We have taken strategic decisions to ensure Allfunds remains well positioned to take advantage of changing market dynamics over the long-term. Looking ahead, we have an exciting pipeline of solutions and products to meet the ever-evolving needs of our clients, continue to take market share, and drive sustainable growth.
"Throughout, our commitment to delivering outstanding shareholder returns remains unwavering, and I’d like to express deep gratitude for the continued support and trust from our shareholders. We are excited about the future, and confident that our strategic initiatives will deliver value for all our stakeholders.”
