MONTREAL, Aug. 8, 2025 /CNW/ – Fiera Capital Corporation (TSX:FSZ) (“Fiera Capital” or the “Company”), a leading independent asset management firm, today announced its financial results for the second quarter ended June 30, 2025. Financial references are in Canadian dollars unless otherwise indicated.
|
(in $ thousands except where otherwise indicated) |
Q2 |
Q1 |
Q2 |
YTD |
YTD |
|
|
2025 |
2025 |
2024 |
2025 |
2024 |
||
|
End of period AUM (in $ billions) |
160.5 |
161.6 |
158.9 |
160.5 |
158.9 |
|
|
Average AUM (in $ billions) |
159.0 |
164.4 |
159.1 |
161.7 |
162.0 |
|
|
IFRS Financial Measures |
||||||
|
Total revenues |
162,974 |
162,871 |
164,786 |
325,845 |
332,901 |
|
|
Base management fees |
147,867 |
154,542 |
149,343 |
302,409 |
300,880 |
|
|
Performance fees |
2,491 |
183 |
2,544 |
2,674 |
5,329 |
|
|
Commitment and transaction fees |
5,246 |
2,440 |
4,287 |
7,686 |
5,602 |
|
|
Share of earnings in joint ventures and associates |
2,035 |
2,595 |
2,689 |
4,630 |
8,976 |
|
|
Other revenues |
5,335 |
3,111 |
5,923 |
8,446 |
12,114 |
|
|
Net earnings (loss) 1 |
3,757 |
21,789 |
4,895 |
25,546 |
12,540 |
|
|
Non-IFRS Financial Measures |
||||||
|
Adjusted EBITDA 2 |
45,692 |
43,403 |
45,284 |
89,095 |
90,679 |
|
|
Adjusted EBITDA margin 2 |
28.0 % |
26.6 % |
27.5 % |
27.3 % |
27.2 % |
|
|
Adjusted net earnings 1,2 |
27,198 |
25,426 |
24,872 |
52,624 |
50,961 |
|
|
LTM Free Cash Flow 2 |
75,336 |
86,674 |
121,148 |
75,336 |
121,148 |
|
|
Note: Certain totals, subtotals and percentages may not reconcile due to rounding |
|
|
1 |
Attributable to the Company’s shareholders |
|
2 |
Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings and Free Cash Flow are non-IFRS measures. Refer to the “Non-IFRS Measures” section of this press release |
“We are pleased with the momentum in our business during the second quarter. Our Public Markets platform secured $1.4 billion of new mandates, marking our strongest gross flows in nine quarters. Assets under management in our Private Markets platform grew year-over-year to reach nearly $21 billion“ said Maxime Ménard, Global President and Chief Executive Officer. “These results underscore the trust our clients continue to place in us, the depth of our investment capabilities and the momentum that has been built through our regionalized distribution model. We remain focused on executing on our strategic priorities, including delivering consistent investment performance and providing a connected client experience, to drive sustained, long-term organic growth.”
“Year-to-date base management fees increased from the same period last year, reflecting stable average AUM and a resilient fee rate which was driven by growing contribution from our Private Markets platform. SG&A expenses were down 3% year-over-year as we delivered on our commitment to streamline the organization and improve operating efficiency” said Lucas Pontillo, Executive Director, Global Chief Financial Officer and Head of Corporate Strategy. “During the quarter, we repurchased 1.1 million shares, reinforcing our commitment to return capital to shareholders. The Board of Directors has approved a dividend of 10.8 cents per share, payable on September 18, 2025.”
Assets Under Management (in $ millions, unless otherwise indicated)
|
By Platform |
March 31, 2025 |
New |
Lost |
Net Contributions |
Net Organic |
Market and Other2 |
Strategic3 |
June 30, 2025 |
|
Public Markets, excluding sub-advised AUM |
104,057 |
1,441 |
(140) |
(1,757) |
(456) |
1,306 |
(1,110) |
103,797 |
|
Public Markets |
36,388 |
7 |
(406) |
(658) |
(1,057) |
493 |
— |
35,824 |
|
Public Markets – Total |
140,445 |
1,448 |
(546) |
(2,415) |
(1,513) |
1,799 |
(1,110) |
139,621 |
|
Private Markets |
21,149 |
209 |
(46) |
(349) |
(186) |
(110) |
— |
20,853 |
|
Total |
161,594 |
1,657 |
(592) |
(2,764) |
(1,699) |
1,689 |
(1,110) |
160,474 |
|
By Distribution Channel |
March 31, 2025 |
New |
Lost |
Net Contributions |
Net Organic |
Market and Other2 |
Strategic3 |
June 30, 2025 |
|
Institutional |
91,843 |
1,149 |
(78) |
(1,229) |
(158) |
732 |
(309) |
92,108 |
|
Financial Intermediaries |
55,544 |
431 |
(391) |
(890) |
(850) |
739 |
(801) |
54,632 |
|
Private Wealth |
14,207 |
77 |
(123) |
(645) |
(691) |
218 |
— |
13,734 |
|
Total |
161,594 |
1,657 |
(592) |
(2,764) |
(1,699) |
1,689 |
(1,110) |
160,474 |
|
By Platform |
December 31, |
New |
Lost |
Net Contributions |
Net Organic |
Market and Other2 |
Strategic3 |
June 30, 2025 |
|
Public Markets, |
103,350 |
2,202 |
(398) |
(2,060) |
(256) |
1,813 |
(1,110) |
103,797 |
|
Public Markets |
44,045 |
7 |
(6,156) |
(1,877) |
(8,026) |
(195) |
— |
35,824 |
|
Public Markets – Total |
147,395 |
2,209 |
(6,554) |
(3,937) |
(8,282) |
1,618 |
(1,110) |
139,621 |
|
Private Markets |
19,716 |
687 |
(92) |
(655) |
(60) |
250 |
947 |
20,853 |
|
Total |
167,111 |
2,896 |
(6,646) |
(4,592) |
(8,342) |
1,868 |
(163) |
160,474 |