Evli Plc Class B · OMXHEX:EVLI
Evli Plc Class B — Investor Presentation (February 2025)
55 slides from Evli Plc Class B's investor presentation, Feb 28, 2025
Slide 1: Evli Europe
EVLI EUROPE 28.02.2025 ISIN: FI4000210620 INSTITUTIONAL ACCUMULATING SERIES This is marketing material for the fund and is not intended as investment advice or recommendation. Before making an investment decision, the investor must read the fund's key information document and other statutory informa
Slide 2: Evli in Brief
2 EVLI IN BRIEF “We see wealth as an engine to drive sustainable progress.” CONFIDENTIAL
Slide 3: Evli Plc
3 ASSETS UNDER MANAGEMENT (EUR MARKET POSITION AS INSTITUTIONAL Evli Plc BILLION) DECEMBER 31, 2024 ASSET MANAGER (KANTAR PROSPERA 2024) Evli Plc is a Finnish independent investment service 18.9 1. company with a nearly 40-year operating history. We are currently Finland's leading institutional asse
Slide 4: Evli's mutual funds
4 Evli’s mutual funds FUND AUM (EUR BILLION) NUMBER OF FUNDS Funds are managed by Evli Fund Management DECEMBER 31, 2024 Company Ltd, which is a Finnish fund management company. Evli Fund Management Company is part of 13.4 64 Evli Group whose parent company is Evli Plc. Morningstar, an independent f
Slide 5: Award-winning asset management from Evli
5 Award-winning asset management from Evli Evli has been leading Kantar Prospera’s survey for 12 consecutive years in a row1. In the SFR Research’s Institutional Investment Services survey, Evli has been ranked first for five years and second place for three, based on the overall quality assessment2
Slide 6: Successful Equity Fund Management
6 SUCCESSFUL EQUITY FUND MANAGEMENT The Results of Evli’s Global equities family of funds CONFIDENTIAL
Slide 7: Strong track record
7 Strong track record Past returns are no guarantee of future returns. – Award-winning portfolio management: Quartile rankings 31.12.2024* – Nine consecutive years as an Awards nominee 2015-2023 (Morningstar/ Lipper/ Citywire) 3 years 5 years 10 years – Awards winner in 2017, 2018, 2020, 2021, Evli
Slide 8: Why Invest in European Equities?
8 WHY INVEST IN EUROPEAN EQUITIES? Evli Europe CONFIDENTIAL
Slide 9: Evli Europe IB – key figures
9 Evli Europe IB – key figures FUND SIZE, EUR MILLION CURRENT STRATEGY LAUNCHED 30.12.2024 Past returns are no guarantee of future returns. 405.1 31.3.2010 – Evli Europe is an equity fund that invests its assets primarily in European equities NUMBER OF HOLDINGS ACTIVE SHARE % – The fund has a 14-yea
Slide 10: Investment Philosophy and Process
10 INVESTMENT PHILOSOPHY AND PROCESS Evli Europe CONFIDENTIAL
Slide 11: Investment philosophy
11 Investment philosophy – Cash is King. Invest in companies with good long-term cash flow characteristics and strong debt coverage – See the world as it is. Focus on what company management has done, not what they say they will do – Don’t overpay. In company valuation, use cautious assumptions. It
Slide 12: Investment strategy
12 Investment strategy – Focus on European companies that 3. Growth –Generate cash flow 4. Caution* 2. Cash flows –Have strong debt coverage –Are underpriced – Bottom-up approach –No benchmark, sector, geographical or market cap constraints within Europe 1. Time 5. Debt coverage – Disciplined and re
Slide 13: Find free cash flow and don't overpay
13 Find free cash flow and don’t overpay We invest in companies that generate cash flow, have strong debt coverage, and are Stock selection underpriced No benchmark, sector or geographical constraints within Europe. Sector and country Active weights are a result of stock selection. Company positions
Slide 14: Workflow
14 Workflow SCREENING RESEARCH PORTFOLIO ~ 7,000 75-125 Equal weights companies companies Investment universe: Share liquidity analysis Construction and risk control: – European companies Cash flow analysis: – Adequate diversification with a minimum of 20 holdings Stock screen: – Stability – Stock p
Slide 15: ESG integration
15 ESG integration – Focus on companies that generate free cash flow, have strong debt coverage, and are underpriced – Integration of ESG related cash outflows that are material, probable and quantifiable ENVIRONMENT Restoration, rehabilitation, possible engagement within FINANCIAL STATEMENT ANALYSI
Slide 16: ESG examples - Evli Global Equities Team
16 ESG examples - Evli Global Equities Team ENVIRONMENTAL Researching a mining company, PM became aware of serious environmental violations and handed the company over to RI Team for further analysis. Process led to conduct-based exclusion of company from Evli’s investment universe. SOCIAL A large r
Slide 17: Portfolio management team
17 Portfolio management team Hans-Kristian Sjöholm Wilhelm Bruun Marjaana Haataja Kati Viljakainen PORTFOLIO MANAGER, PORTFOLIO MANAGER, PORTFOLIO MANAGER, PORTFOLIO MANAGER, GLOBAL EQUITIES, SINCE 2010 GLOBAL EQUITIES, SINCE 2010 GLOBAL EQUITIES, SINCE 2011 GLOBAL EQUITIES, SINCE 2011 M.Soc.Sc. (Ec
Slide 18: Evli Europe in a nutshell
18 Evli Europe in a nutshell Type of Fund Equity fund investing in Europe (UCITS) Benchmark MSCI Europe TR Net (EUR), starting from 1.2.2012 Fund Units Both distribution (A) and growth units (B), institutional share class available (IB) Bloomberg/Reuters/ B-units: EVLEGRB FH / LP60080980/ FI00088020
Slide 19: Evli's Global Equities family of funds
19 Evli’s Global Equities family of funds – Our family of funds using the same investment philosophy consists of seven funds investing in different geographical areas: – Evli Europe (current strategy since 1 April 2010) – Evli Global (current strategy since 31 May 2011) – Evli North America (current
Slide 20: Considerations and risk factors
20 Considerations and risk factors The fund’s investment activities aim to earn a return which, in the long term, exceeds the return of the benchmark index. As the fund’s assets are invested in equities or equity-linked securities, the fund unit value can fluctuate significantly within a short perio
Slide 21: What Opportunities Does the Market Currently Offer?
21 WHAT OPPORTUNITIES DOES THE MARKET CURRENTLY OFFER? Evli Europe CONFIDENTIAL
Slide 22: Characteristics 31.12.2024
22 Characteristics 31.12.2024 Past returns are no guarantee of future returns. Fund Evli Global Evli Europe Evli N. America Evli Japan Evli Nordic Evli GEM Return on Equity, % 16.7 13.2 13.5 9.0 12.5 13.7 Debt-to-Equity, % 71.1 53.3 47.1 16.4 55.2 26.2 Price-to-Earnings 16.6 12.6 16.4 12.9 11.8 11.1
Slide 23: Characteristics 31.12.2024
23 Characteristics 31.12.2024 Lightly colored circles denote MSCI benchmarks ex Financials. Price and company data: Bloomberg. Index member data: MSCI. Fundamental data as of latest reported period if available, else latest reported fiscal year, 12-month rolling basis where applicable. Data aggregat
Slide 24: Valuation – European research list
24 Valuation – European research list European Research List 14 13 12 Free Cash Flow Yield 11 10 9 8 7 6 5 4 3 Research list - quarterly median Research list - period average MSCI Europe ex Financials Our fundamental screen evaluates past ability to generate cash over the short- and long-term, and t
Slide 25: Track Record and Portfolio Composition
25 TRACK RECORD AND PORTFOLIO COMPOSITION Evli Europe CONFIDENTIAL
Slide 26: Net of fee returns - Since current strategy launch
26 Net of fee returns - Since current strategy launch Portfolio Benchmark Difference 1 Year 5.82% 15.71% -9.89% 3 Years 13.28% 33.78% -20.50% 5 Years 49.78% 68.12% -18.33% 10 Years 69.50% 82.83% -13.33% Since current 273.62% 208.70% 64.92% strategy launch Since current strategy launch, 9.23% 7.84% 1
Slide 27: Annual returns, after fees, 28.02.2025
27 Annual returns, after fees, 28.02.2025 Past returns are no guarantee of future returns. 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Portfolio 4.18% 10.56% -21.78% 32.76% 3.99% 27.90% -16.27% 14.65% 0.09% 6.47% Benchmark 2.58% 10.24% -10.57% 26.05% -3.02% 24.97% -8.49% 14.36% 8.00% 10.94% Di
Slide 28: Net of fee returns - YTD
28 Net of fee returns - YTD Portfolio Benchmark Difference YTD 6.47% 10.94% -4.46% Portfolio Benchmark Difference Volatility 9.90% 9.14% 0.76% Sharpe 0.60 1.14 -0.54 Tracking Error 6.17% - - Information Ratio -0.72 - - Beta 0.86 - - The minimum investment for share class Evli Europe IB is EUR 5 000
Slide 29: Net of fee returns - 10 Years
29 Net of fee returns - 10 Years Portfolio Benchmark Difference 1 Year 5.82% 15.71% -9.89% 3 Years 13.28% 33.78% -20.50% 5 Years 49.78% 68.12% -18.33% 10 Years 69.50% 82.83% -13.33% 10 Years, 5.41% 6.21% -0.80% annualized return Portfolio Benchmark Difference Volatility 18.66% 16.34% 2.32% Sharpe 0.
Slide 30: European stock markets 2024 (EUR) – by sector
30 European stock markets 2024 (EUR) Past returns are no guarantee of future returns. RETURNS BY SECTOR (%) Index Fund Financials Communication Services Industrials Information Technology Index Health Care Consumer Discretionary Utilities Fund Real Estate Materials Consumer Staples Energy -20 -15 -1
Slide 31: Attribution by sector 2024
31 Attribution by sector 2024 ATTRIBUTION EFFECTS AVERAGE WEIGHTS Total Allocation Selection Currency Consumer Staples Portfolio weight Health Care Consumer Discretionary Active weight Utilities Communication Services Real Estate Industrials Materials Energy Financials Information Technology Other a
Slide 32: European stock markets 2024 (EUR) – by country
32 European stock markets 2024 (EUR) Past returns are no guarantee of future returns. RETURNS BY COUNTRY (%) Index Fund Austria Italy Germany Spain Belgium Ireland United Kingdom Index Netherlands Switzerland Sweden Norway Fund France Finland Denmark Portugal -30 -20 -10 0 10 20 30 40 Data derived f
Slide 33: Attribution by country 2024
33 Attribution by country 2024 ATTRIBUTION EFFECTS AVERAGE WEIGHTS Total Allocation Selection Currency Switzerland Portfolio weight Netherlands Finland Active weight Portugal Austria Denmark Belgium Ireland Spain Italy France Sweden Germany Norway United Kingdom Other and Cash Total (GoF) Fee Impact
Slide 34: Top/Bottom attributors 2024
34 Top/Bottom attributors 2024 Past returns are no guarantee of future returns. TOP ATTRIBUTORS % Port % Active Return, % Attrib., % Britvic Plc (GB) 0.43 0.43 49.08 0.89 Nestle Sa-Reg (CH) 0.00 -2.49 -22.66 0.86 Dsv A/S (DK) 1.33 1.03 36.99 0.76 Betsson Ab-B (SE) 2.94 2.94 35.80 0.72 Novo Nordisk A
Slide 35: Portfolio structure 28.02.2025
35 Portfolio structure 28.02.2025 Evli Europe IB CONFIDENTIAL
Slide 36: Top holdings 28.02.2025
36 Top holdings 28.02.2025 10 LARGEST INVESTMENTS % Betsson AB 3.61% KONECRANES OYJ 3.04% Cie de Saint-Gobain 2.96% Maire SpA 2.84% Holcim Ltd 2.83% Freenet AG 2.79% DSV A/S 2.76% Koninklijke Ahold Delhaize NV 2.75% DKSH Holding AG 2.60% Sanofi 2.54% Evli Europe IB CONFIDENTIAL
Slide 37: Companies 30.12.2024 (52 stocks)
37 Companies 30.12.2024 (52 stocks) Communication Consumer Information MSCI Active Consumer Staples Energy Financials Health Care Industrials Materials Other Portfolio Services Discretionary Technology Europe Weight D/S Norden Denmark Carlsberg H Lundbeck 7.3% 4.5% 2.8% DSV Finland Konecranes Kemira
Slide 38: Portfolio changes 2024
38 Portfolio changes 2024 SECTOR COUNTRY Industrials France United Kingdom Energy Norway Consumer Discretionary Italy Materials Switzerland Denmark Information Technology Sweden Health Care Finland Communication Services Germany Netherlands Consumer Staples Spain Financials Ireland Utilities Portuga
Slide 39: Portfolio changes 2024
39 Portfolio changes 2024 SIZE NUMBER OF POSITIONS < 2 bn EUR 43 At Beginning of Period 20 Sold 2 - 5 bn EUR 24 Held > 5 bn EUR 29 Bought Other and Cash 52 At End of Period -60% -40% -20% 0% 20% 40% 60% 0 20 40 60 29.12.2023 – 30.12.2024 Sources: Evli, Bloomberg CONFIDENTIAL
Slide 40: Portfolio changes 2024
40 Portfolio changes 2024 BOUGHT (29) BOUGHT cont. SOLD (20) Aker Solutions (NO, Energy) Maire (IT, Industrials) A.P. Møller-Mærsk (DK, Industrials) ALSO Holding (CH, Information Technology) Michelin (CDGE) (FR, Consumer Discretionary) Aperam (FR, Materials) Bodycote (GB, Industrials) Next 15 Group
Slide 41: Holdings-based style map
41 Holdings-based style map CONFIDENTIAL
Slide 42: ESG Metrics Q4 2024
EVLI EUROPE 42 ESG Metrics Q4 2024 Responsibility score AA Carbon footprint 212 UN Global Compact 0,0 % SFDR classification: Article 8 (t CO2e/M$ sales) fails CURRENT RESPONSIBILITY SCORES CARBON FOOTPRINT AND FOSSIL FUEL RESERVES DEVELOPMENT OF CARBON INTENSITY OF CURRENT INVESTMENTS 99,99997 ES G
Slide 43: Ambition
43 AMBITION “We want to be the forerunner in responsible wealth management in the Nordics, and in this way help our clients in managing their wealth to support a sustainable future.” CONFIDENTIAL
Slide 44: Evli is a forerunner in Responsible Investing
44 Evli is a forerunner in Signatory of a COP15 initiative ’Moving Together on Nature’ Responsible Investing Signatory of Open Letter to EU leaders Joining the PRI Advance initiative as from investors on a endorser sustainable recovery Signatory of a from COVID-19 joint statement on European Investo
Slide 45: Four pillars of responsible investing at Evli
45 Four pillars of responsible investing at Evli #1 in Sustainable investing according to Finnish institutions 2017-20242 Principles for ESG 1 -integration in Engagement and Reporting Responsible Investment Team Responsible Investment investment process active ownership – Decided by Evli’s – Portfol
Slide 46: Monitoring, engagement and active ownership
46 Monitoring, engagement and active ownership ENGAGEMENT ACTIVITIES 2024 UN Global Compact, the UN Guiding Principles on Business and Human COLLABORATIVE ENGAGEMENT PARTICIPATING IN GENERAL Rights, the OECD Guidelines for Multinational Enterprises and Evli’s climate INITIATIVES MEETINGS principles
Slide 47: Exclusions in practice in all Evli funds
47 Exclusions in practice in all Evli funds – With 0% revenue threshold: – Controversial weapon manufacturers – Companies manufacturing peat for energy production – With 5% revenue threshold: – Tobacco producers, adult entertainment producers and companies practicing controversial lending – With 10%
Slide 48: Evli's climate change principles
48 Evli’s climate change principles 1. Analysis – Monitoring the emissions of companies in Evli’s funds through fund-specific carbon footprints. – Funds’ carbon footprints are also assessed by Evli’s Responsible Investment team. 2. Exclusion – Avoiding1 investments in companies that gain a significa
Slide 49: Evli's climate targets
49 Evli’s climate targets Evli aims for carbon neutrality of its own operations by 2025, and carbon neutrality of investments by 2050 at the latest. The interim target for the investments -50% reduction in indirect emissions from investments by 2030 (compared to 2019). We are aware that a credible l
Slide 50: At Your Service
50 AT YOUR SERVICE “Our mission is to increase clients' wealth according to their individual targets.” CONFIDENTIAL
Slide 51: At your service
51 At your service – Distinctive and comprehensive reporting - My Evli online service - Monthly fund reviews - Monthly custody statement - All Evli’s market and equity analysis - Quarterly ESG reports – Evli funds present on - Bloomberg, Citywire, Lipper, eVestment, Morningstar, Reuters, Sijoitustut
Slide 52: Important information
52 Important information This marketing material is intended for non-professional and professional clients in Finland, Sweden, Lithuania, Latvia and Estonia. In other jurisdictions this Document is intended only for professional clients. The management company of the fund is Evli Fund Management Com
Slide 53: Disclaimer statement
53 Disclaimer statement Citywire Source and Copyright: Citywire. Hans-Kristian Sjöholm has been 'Euro Stars' AAA rated by Citywire for his 3-year risk adjusted performance, for the period 28/2/2010—28/2/2013. Wilhelm Bruun has been AAA rated by Citywire for his 3-year risk adjusted performance for 1
Slide 54: Disclaimer statement
54 Disclaimer statement Evli This presentation is intended only for the recipient's personal and private use. This material is based on sources that Evli Group (Evli) considers correct and reliable. However, neither Evli nor its employees give any guarantee concerning the correctness, accuracy or co
Slide 55: Evli contact and social media
LinkedIn – Evli Funds LinkedIn – Evli Funds Facebook – Evli Funds Facebook – Evli Funds Facebook – Evli Funds Message Service X – Evli Funds Message Service X – Evli Funds Message Service X – Evli Funds evli.com evli.com evli.com Evli Plc | Aleksanterinkatu 19 | P.O. Box 1081 | FI-00101 Helsinki, Fi