Van Lanschot Kempen

net profit €125.2 million, with net AuM inflows at €5.3 billion in 2023

Amsterdam/’s-Hertogenbosch, the Netherlands, 22 February 2024

• Net profit increased to €125.2 million (2022: €84.3 million), mainly on higher commission income, interest income and a book profit on the sale of a stake in the portfolio of participating interests
• Net AuM inflows: €5.3 billion, of which Private Clients €2.3 billion and Wholesale & Institutional Clients €3.1 billion
• Client assets: €145.0 billion (2022: €124.2 billion) and AuM: €127.6 billion (2022: €107.8 billion)
• Strong capital ratio of 19.6% (2022: 20.6%), well above 17.5% target
• 2023 dividend proposal: €2.00 per share (2022: €1.75 per share)
• Investor Day on 20 June 2024: update on wealth management strategy and financial targets

Maarten Edixhoven, Chair of the Management Board, said: “2023 was a good year for Van Lanschot Kempen, with strong net profit and more than 18% growth in assets under management (AuM). As well as a positive market performance, this reflected new assets entrusted to us by both existing and new clients, and the disciplined execution of our M&A strategy.

“The year was marked by geopolitical tensions, climate change impacts and economic developments that had a major effect on consumers, investors, entrepreneurs and society at large. Equity markets were volatile due to monetary tightening by central banks, but saw a strong end to the year. Against this backdrop, our clients sought solutions and advice to help them stay on course for the long-term. Fixed income returned as an attractive asset class, while interest in alternative investment solutions remained strong – an area in which impact is increasingly becoming a third variable alongside risk and return.

“Private Clients reported strong results in the Netherlands, Belgium and Switzerland, recording net AuM inflows of €2.3 billion. In Belgium, our second home market, we achieved solid growth, a major feat by all colleagues who were meanwhile also working hard towards the launch of Mercier Van Lanschot on 1 January 2024. This completed the integration of Mercier Vanderlinden and Van Lanschot Belgium. The integration of Robeco’s online investment platform and Evi van Lanschot is likewise proceeding smoothly.