CapMan Plc Stock Exchange Release
Changes in the composition of
In the updated reporting structure, income from the
Following the update, Service business income is derived from fees from CapMan's procurement service CaPS and fees from reporting, analytics and back-office services provided by JAY Solutions. Turnover from the Service business is predominantly derived from services transferred over time and is as such recurring in nature.
The update to the reporting structure is based on the equal reporting treatment of management fees as well as similarities between fund and asset management and wealth advisory service customers. In addition, both management fees obtained from funds and fees from wealth advisory services are income dependent on assets or capital under management.
Going forward, CapMan no-longer reports interest income and expenses, income taxes, profit for the period or non-current assets at segment level as CapMan's
The composition of other reporting segments remains intact. Through its Investment business, CapMan invests from its own balance sheet in the private equity asset class and mainly in its own funds. Income in this business segment is generated by realised returns following exits and periodic returns as well as changes in the fair value of unrealised investments.
Other activity includes the corporate functions not allocated to operating segments. These functions include part of the activities of group accounting, corporate communications, group management and costs related to share-based payment. Other also includes the eliminations of the intersegment transactions.
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Appendix
Restated comparable segmentinformation for financial year 2020
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With close to E4 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, wealth management, and analysis, reporting and back office services. Altogether, CapMan employs around 150 people in Helsinki,
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