CapMan - Half Year financial report

CapMan Plc's Half-Year Financial Report 2016 - Operating profit doubled

CapMan Plc                                  Half-Year Financial Report
                                  11 August 2016 at 8.30 a.m. EEST



CapMan Plc's Half-Year Financial Report 2016 - Operating profit doubled

Performance and main events for the review period 1 January - 30 June 2016:

  * Group turnover totalled MEUR 15.4 (Jan-Jun 2015: MEUR 15.7).
  * Operating profit was MEUR 7.2 (MEUR 3.6).
  * Profit before taxes was MEUR 5.5 (MEUR 2.6).
  * Profit after taxes was MEUR 5.1 (MEUR 2.2).
  * Earnings per share for the review period were 5.4 cents (2.0 cents).
  * CapMan was awarded a MEUR 400 real estate investment mandate by BVK,
    Germany's largest pension scheme group.

This stock exchange release is a summary of CapMan Plc's Half-Year Financial
Report 2016. The complete report is available in pdf-format as an attachment to
this release and on the company's website at
http://www.capman.com/newsroom/interim-reports/.



Key figures

                                 1-6/16    1-6/15

 Turnover, MEUR                    15.4      15.7

 Operating profit, MEUR             7.2       3.6

 Profit before taxes, MEUR          5.5       2.6

 Profit for the period, MEUR        5.1       2.2

 Earnings / share, cents            5.4       2.0



                              30.6.2016 30.6.2015

 Return on equity, % p.a.          15.9       7.3

 Return on investment, % p.a.      10.8       6.8

 Equity ratio, %                   44.0      41.5

 Net gearing, %                    73.9      74.5




Heikki Westerlund, CEO:

"The successful implementation of strategic projects is important also
considering our future development. We signed a MEUR 400 residential real estate
mandate with BVK, Germany's largest pension scheme group, and established a new
MEUR 100 private debt fund.

Our results continued to develop favourably during the second quarter of 2016.
Over the first six months, we have doubled our operating profit and nearly
tripled our earnings per share. The results improved despite the second quarter
including a MEUR 1,0 write-down of a value-added tax receivable that affected
comparability, among others.

Our cash flow has been good following exits made in the first half of the year,
which provides a good foundation for the achievement of our objectives. Growth
has been especially satisfactory in real estate investment and the development
of specialised services. Selective launch of new product areas is also part of
our programme for the upcoming 12 months.

Interest rates are expected to remain low for a considerable time as Brexit adds
to capital market uncertainty. Despite potential volatility affecting
valuations, the current market conditions continue to support the growth of
private equity as an asset class."

CapMan maintains its outlook for 2016

The Management Company and Services business is profitable before carried
interest income and any possible items affecting comparability. CapMan expects
fees from services to continue growing and to constitute a larger share of
overall fee income in 2016 compared to 2015.

A significant component contributing to CapMan's result is carried interest
income. CapMan receives carried interest income from funds as a result of a
completed exit in the event that the fund already is in carry or will enter
carry due to the exit. The current portfolio holds several investments, which
are in exit process, although the exact timing of such exits may fluctuate.

The fair value development of CapMan's investments have a substantial impact on
CapMan's overall result. The development of industries and local economies,
inflation development, valuation multiples of peer companies, exchange rates and
various other factors outside of CapMan's control influence fair value
development in addition to company and real estate specific development, and the
fair value development of the overall portfolio depends on the interplay of
these factors. For a future outlook on Norvestia, CapMan refers to the
assessment published by Norvestia in its own reports. As a consequence, CapMan
refrains from providing projections related to the fair value development of its
investments.

Press, analyst and investor conference today at 10.00 a.m. EEST

Heikki Westerlund, CEO, will present the result for the review period to press,
analysts and investors and review the market situation in a press conference to
be held at 10.00 a.m. EEST at CapMan's head office in Helsinki, address
Korkeavuorenkatu 32, 00130 Helsinki. The press and analyst conference will be
held in Finnish. The presentation material is available at CapMan Group's
website after the event has begun. There is no webcast available. To join the
conference, please register with linda.tierala@capman.com. Welcome!



Helsinki, 11 August 2016
CAPMAN PLC
Board of Directors



Further information:
Niko Haavisto, CFO, tel. +358 50 465 4125



Distribution:
NASDAQ Helsinki
Principal media
www.capman.com



CapMan www.capman.com
CapMan is a leading Nordic investment and asset management company active in the
private equity industry. For more than 25 years, we have been developing
companies and real estate and supporting their sustainable growth. We are
committed to understanding the needs of our customers in an ever-changing market
environment. Our objective is to provide attractive returns and innovative
solutions for our investors and value adding services for professional
investment partnerships, growth-oriented companies and tenants. Our independent
investment partnerships - Buyout, Real Estate, Russia and Credit - as well as
our associated company Norvestia are responsible for investment activities and
value creation. CapMan's service business offering includes fundraising advisory
services, purchasing activities and fund management services to both internal
and external customers. CapMan has 100 private equity professionals and assets
under management of €2.8 billion.


[HUG#2034546]

Viðhengi:

CapMan_H1_2016_ENG_160811_Final.pdf