Antin: share price rises, 1st half of the year considered a good performance

(CercleFinance.com) - Antin Infrastructure Partners shares were up on the Paris Bourse on Wednesday, with analysts rating the investment fund's first-half results as "good".


In a press release, the group reported "solid" financial results, with sales up 6.4% and underlying Ebitda up 1.4%.

Underlying net income rose by 1.5%.

Antin's assets under management, a closely watched industry indicator, rose by 3% to 31.7 billion euros at the end of the half-year.

Antin also reported a "robust" investment performance, with all its funds performing "in line with or ahead of forecasts".

Its Flagship Fund V reached 9.4 billion euros at June 30, putting the group on track to exceed its target of 10 billion euros by the end of the year.

Antin has also confirmed its outlook for 2024.

In a reaction note, analysts at Oddo BHF, who have a "neutral" opinion on the stock, refer to good results, while warning that 2024 will be a "year of transition".

"Fundraising for the Flagship V fund is currently below the 10 billion euro target, and planned disposals for the year remain low (one disposal only)", they point out.

As for investments, while some do not call for comment, others are either very bold, in our opinion (we're thinking of Proxima, to compete with the SNCF), or have been cancelled (Excellence Imagerie)', they add.

At 10:20 a.m., the share was up 3.3%, while the Paris market was posting a gain of around 0.3% at the same time.

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