HMC Capital delivers pre-tax FFO of $91.0 million, statutory profit of $107.3 million and 321% growth in external AUM

HMC Capital delivers pre-tax FFO of $91.0 million, statutory profit of $107.3 million and 321% growth in external AUM

HMC Capital (ASX: HMC) today released its full-year 30 June 2022 results. 

FY22 was a transformational year for HMC Capital with the group achieving record growth in external AUM (+321%) and pre-tax FFO per share (+126%). HMC successfully executed over $4.6bn of gross transactions in the period and increased external AUM to $5.8bn versus $1.4bn 12 months ago.

HMC delivered pre-tax FFO of $91.0m in FY22 which was underpinned by strong growth in funds management revenues of $64.1m (versus $10.9m in FY21). FY22 FFO per share of 31.0 cents was 68% above the group’s original FY22 guidance and demonstrates HMC Capital’s ability to originate and execute large, complex transactions.  

HMC Managing Director and CEO, David Di Pilla, said “Our strategy and ambition to create Australia’s leading ASX-listed diversified alternative asset manager is now well underway. As a manager we have demonstrated strong discipline and alignment through our proactive response to the rising interest rate environment and market volatility this year. We strengthened the capital position of our funds through opportunistic asset sales which took advantage of the disconnect between property and global capital markets.”

“HMC is well positioned moving into FY23 with strong momentum and a more established and diversified platform following the recent establishment of HMC Capital Partners Fund I. The fund expands our platform into new alternative sectors including private equity and gives us greater flexibility to deploy capital during times of market volatility and dislocation. The fund recently made its first investment in Sigma Healthcare which has seen a ~22% appreciation in its share price since we acquired a ~14% strategic stake.”

“We are currently tracking 6-12 months ahead of our previously stated AUM growth target of $10bn by the end of 2024 and we believe the current market environment is creating compelling and strategic opportunities which could accelerate our growth,” Mr Di Pilla said.

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