Ci Financial Corp. ( (CIXXF) ) has released its Q4 earnings. Here is a breakdown of the information Ci Financial Corp. presented to its investors.
CI Financial Corp. is a diversified global asset and wealth management company headquartered in Toronto, operating primarily in Canada, the United States, and Australia. The company offers a comprehensive suite of financial services across three main segments: Asset Management, Canadian Wealth Management, and U.S. Wealth Management, catering to a wide range of clients including ultra-high-net-worth individuals.
In its latest earnings report for the fourth quarter of 2024, CI Financial Corp. highlighted the impact of its take-private transaction on its financial results. The company reported a net loss attributable to shareholders of $405.4 million, primarily due to accounting charges related to the transaction. However, adjusted net income showed a positive trend, reaching $153.9 million, up 9.0% from the previous quarter.
Key financial metrics revealed that total assets under management increased by 19.0% year-over-year, reaching $529.4 billion. Despite a decrease in total net revenues to $677.8 million compared to the previous quarter, adjusted revenues rose by 5.9% to $799.5 million. The company also reported an adjusted EBITDA attributable to shareholders of $292.7 million, reflecting a strong performance in capital markets and successful acquisitions.
CI Financial Corp. continued its capital allocation strategy by paying $28.7 million in dividends and repurchasing shares under its issuer bid. The company also announced a significant transaction with Mubadala Capital to take CI private, which received overwhelming shareholder approval.
Looking ahead, CI Financial Corp. remains focused on its strategic initiatives and growth opportunities. The management is optimistic about the company’s future performance, supported by its diversified business model and strong market position in the asset and wealth management sectors.