CapMan - Interim report (Q1 and Q3)

CapMan Plc's January-September 2016 Interim Report

CapMan Plc                        Interim Report                   3 November
2016 at 8.30 a.m. EET

CapMan Plc's January-September 2016 Interim Report

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

  * Group turnover totalled MEUR 22.0 (1 January - 30 September 2015: MEUR
    24.7).
  * Operating profit was MEUR 10.0 (MEUR 4.2).
  * Profit before taxes was MEUR 7.5 (MEUR 2.5).
  * Profit after taxes was MEUR 7.1 (MEUR 2.0).
  * Diluted earnings per share for the review period were 7.3 cents (1.5 cents).
  * CapMan will make a public voluntary exchange offer of all Norvestia Plc's
    shares. More information regarding the offer will be available in a stock
    exchange release to be published today 3 November 2016.

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

Key figures

                                    1-9/16    1-9/15

 Turnover, MEUR                       22.0      24.7

 Operating profit, MEUR               10.0       4.2

 Profit before taxes, MEUR             7.5       2.5

 Profit for the period, MEUR           7.1       2.0

 Diluted earnings / share, cents       7.3       1.5



                                 30.9.2016 30.9.2015

 Return on equity, % p.a.             14.3       4.2

 Return on investment, % p.a.         10.0       5.6

 Equity ratio, %                      44.8      44.3

 Net gearing, %                       56.4      49.1




Heikki Westerlund, CEO:

"We have realised our strategy in terms of growth and result development
according to plan during the year. The success of our value creation effort is
visible as a clear improvement in results especially due to the favourable
development of our investments and successful exits in the first nine months of
the year. Our cash flow has also been strong. Nordic Real estate transaction
activity has remained high, which is also reflected in the activity of our own
real estate team. CapMan Nordic Real Estate fund has announced several exits in
the beginning of autumn. The fund is among the best performing in its category
in the Nordic countries.

Our service business has overall developed according to plan and has a
significant role as we seek improved fee profitability.

We presently own 28.7% of Norvestia and have today published a voluntary public
exchange offer to acquire all remaining issued Norvestia shares. More than 50%
of Norvestia's shareholders have already given their support for the exchange
offer. Norvestia significantly strengthens CapMan's position as a leading Nordic
private equity asset management and investment company with strong liquidity.
The acquisition would support the implementation of our long term strategy."

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.

CapMan refers to its Half-Year 2016 Report published on 11 August 2016 for a
description of items affecting comparability.

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

CapMan will hold a press, analyst and investor conference today, on 3 November
2016, at 10:00 a.m. at CapMan's head office in Helsinki, at Korkeavuorenkatu
32. CapMan's CEO Heikki Westerlund, CapMan's Chairman of the Board Karri Kaitue
and Norvestia's Vice Chairman of the Board Hannu Syrjänen will present at the
conference. The presentation material is available at CapMan's website at the
beginning of the event. The conference will be held in Finnish. Welcome!



Helsinki, 3 November 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.


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Priedai:

CapMan_Q3_2016_ENG_161103_Final.pdf