October 14th 2022
Press release - Artorius growth story continues.
Artorius Wealth reported an adjusted EBITDA profit £0.5m for the financial year 30th April 2022. Revenue reported of £8.3m, compared to £6.2m in the prior year period. The directors are pleased with continual progression on turnover and development of the client offering, whilst maintaining control over administrative expenses. Adjusted EBITDA has improved significantly over the 3-year period. The business continues to invest in people and technology in order to support the future growth of our service to Family Offices and High Net Worth individuals across the UK. In spite of the increasing investment over the last 2 years, the group has been operationally profitable.
Net revenues were £8.3m, a 34% or £2.1m increase reflecting the continued growth in assets under management and recurring revenue now accounts for 88% of total revenue. The directors remain pleased with the quality of the income and client relationships with individuals and families seeking long-term, independent partners to provide wealth planning, family governance & oversight, and investment solutions. AUM* increased organically by £350m to £1,500m as at 30th April mainly from client inflows and investment performance within its Discretionary, Advisory & Family Office offering, as well as superior investment return relative to the peer group as measured by Asset Risk Consultants. This follows strong growth of ~£350m increase in the prior year also.
Administrative costs were £7.7m, an increase of 28% or £1.7m year-on-year reflecting the relocation of our London office, investment in our family office proposition and IT platforms, as well as a number of strategic hires to support the groups’ 5-year plan. Reported FTE had increased by 14 to 57 employees by the financial year end, with 13 further staff hired in the subsequent financial year.
AUM* stands at £1,600m as at 30th September 2022 with offices located in Manchester, Yorkshire & London.
"We are delighted with the momentum that we have seen over the last 3 years. Artorius’s ability to navigate clients through complex wealth planning issues, source the best in breed investment products and services, and meet client requirements in credit structuring, family office reporting, governance, and investment oversight, is clearly a differentiator. "
Paddy Lewis, CEO
"The business continues to see strong demand for high quality wealth planning and advice within High-Net-Worth families. A 46% increase in our UK revenues underlines the hard work and success we have enjoyed over the last 12 months. We have invested significantly into hiring to ensure that we can maintain that level of growth, whilst building a resilient operating model to deliver a high-quality, long term wealth management business."
Ian Bennett, Group Finance Director