CapMan - Interim report (Q1 and Q3)

CapMan Plc's Interim Report for 1 January - 31 March 2016

CapMan Plc                        Interim Report                  4 May 2016 at
8.30 a.m. EEST



CapMan Plc's Interim Report for 1 January - 31 March 2016

Performance and main events for the review period:

  * Group turnover totalled MEUR 7.5 (Jan-Mar 2015: MEUR 7.3).
  * Operating profit was MEUR 3.8 (MEUR 0.9).
  * Profit before taxes was MEUR 3.0 (MEUR 0.5).
  * Profit after taxes was MEUR 2.9 (MEUR 0.5).
  * Earnings per share for the review period were 3.0 cents (0.3 cents).
  * Since the beginning of the year we have raised more than MEUR 120 for real
    estate and credit strategies.



This stock exchange release is a summary of CapMan Plc's 1 January - 31 March
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/interim-reports/.



Key figures

                                1-3/16    1-3/15

 Turnover, MEUR                    7.5       7.3

 Operating profit, MEUR            3.8       0.9

 Profit before taxes, MEUR         3.0       0.5

 Profit for the period, MEUR       2.9       0.5

 Earnings / share, cents           3.0       0.3



                             31.3.2016 31.3.2015

 Return on equity, % p.a.         17.9       3.1

 Return on investment,% p.a.      11.6       4.2

 Equity ratio, %                  40.9      54.3

 Net gearing, %                   68.1       0.2




Heikki Westerlund, CEO:

"Our year had a strong start. We have made progress in our growth initiatives by
building a MEUR 80 residential portfolio for a large German investor, launching
a MEUR 40 real estate product offering a stable income and finalising the
establishment of a new credit fund. We are satisfied with our results for the
first three months of the year, although our full potential is not yet reflected
in the improvement. Our annual return on equity was at 17.9 per cent, which is
close to our objective of at least 20 per cent.

Our five active investment strategies provide a good base for growing our
specialised asset management business. The return on our own investments was
good as the lengthy value creation process in our portfolio bore fruit. Our
strategic investment in Norvestia has also generated good returns. The service
business has continued growing. Relocations of offices in Moscow and Helsinki
will have a positive effect on our cost structure. We proceed on our current
strategic path with an objective to continuously improve our earnings per
share."

CapMan maintains its outlook for 2016

The Management Company and Services business is profitable before carried
interest income and any possible non-recurring expenses related to acquisitions
or larger development projects. 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 and analyst conference today at 10.00 a.m. EEST

Heikki Westerlund, CEO, will present the result for the financial year to press
and analysts 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, 4 May 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 €2.7 billion.


[HUG#2009708]

Attachments:

CapMan Plc Interim Report Q1 2016.pdf