Fiera Capital Reports Second Quarter 2025 Results
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 Growth1
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 sub-advised AUM
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 OrganicGrowth1
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 31,2024
New
Lost
Net
Contributions
Net OrganicGrowth1
Market and
Other2
Strategic3
June 30, 2025
Public Markets, excluding sub-advised AUM
103,350
2,202
(398)
(2,060)
(256)
1,813
(1,110)
103,797
Public Markets sub-advised AUM
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