MONTREAL, Aug. 7, 2024 /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, 2024. Financial references are in Canadian dollars unless otherwise indicated. (in $ thousands except where otherwise indicated) Q2 Q1 Q2 YTD YTD 2024 2024 2023 2024 2023 End of period AUM (in $ billions) 158.9 165.2 164.2 158.9 164.2 Average AUM (in $ billions) 159.1 164.8 164.5 162.0 164.2 IFRS Financial Measures Total revenues 164,786 168,115 159,843 332,901 316,934 Base management fees 149,343 151,537 149,793 300,880 297,221 Net earnings 1 4,895 7,645 10,484 12,540 7,967 Non-IFRS Financial Measures Adjusted EBITDA 2 45,284 45,395 45,468 90,679 84,291 Adjusted EBITDA margin 2 27.5 % 27.0 % 28.4 % 27.2 % 26.6 % Adjusted net earnings 1,2 24,872 26,089 28,708 50,961 52,252 LTM Free Cash Flow 2 121,148 71,847 45,198 121,148 45,198 Note: Certain totals, subtotals and percentages may not reconcile due to rounding. "We were pleased to conclude the second quarter with senior management and a number of board members acquiring all the equity of the Company previously held by Fédération des caisses Desjardins du Québec," said Jean-Guy Desjardins, Chairman of the Board and Global Chief Executive Officer. "We continue to drive forward with our regional distribution strategy, which delivered positive organic growth for Private Markets strategies during the quarter. We are also encouraged by the pipeline of activity that we are seeing for the remainder of the year." "Equity markets continued their strong performance in the second quarter of 2024 which, combined with growth in base management fees in Private Markets, resulted in a 3% year-over-year increase in total revenues. Net cash generated by operating activities also improved both quarter-over-quarter and year-over-year, with LTM Free Cash Flow ending the quarter at $121.1 million," said Lucas Pontillo, Executive Director and Global Chief Financial Officer. "I am pleased to announce that the Board of Directors has approved a dividend of 21.5 cents per share, payable on September 19, 2024." Assets Under Management (in $ millions, unless otherwise indicated) By Platform March 31, 2024 New Lost Net Contributions Net OrganicGrowth3 Market and Other4 June 30, 2024 Public Markets, excluding AUM sub-advised by PineStone 98,999 926 (2,042) (1,914) (3,030) 549 96,518 Public Markets AUM sub-advised byPineStone 47,309 51 (4,512) (557) (5,018) 907 43,198 Public Markets - Total 146,308 977 (6,554) (2,471) (8,048) 1,456 139,716 Private Markets 18,857 370 (63) (41) 266 23 19,146 Total 165,165 1,347 (6,617) (2,512) (7,782) 1,479 158,862 By Distribution Channel March 31, 2024 New Lost Net Contributions Net OrganicGrowth3 Market and Other4 June 30, 2024 Institutional 87,998 904 (1,386) (929) (1,411) 956 87,543 Financial Intermediaries 62,860 90 (4,944) (1,119) (5,973) 358 57,245 Private Wealth 14,307 353 (287) (464) (398) 165 14,074 Total 165,165 1,347 (6,617) (2,512) (7,782) 1,479 158,862 By Platform December 31,2023 New Lost Net Contributions Net OrganicGrowth3 Market and Other4 June 30, 2024 Public Markets, excluding AUM sub-advised by PineStone 97,984 1,644 (2,225) (2,966) (3,547) 2,081 96,518 Public Markets AUM sub-advised byPineStone 45,231 135 (7,253) (705) (7,823) 5,790 43,198 Public Markets - Total 143,215 1,779 (9,478) (3,671) (11,370) 7,871 139,716 Private Markets 18,478 972 (95) (94) 783 (115) 19,146 Total 161,693 2,751 (9,573) (3,765) (10,587) 7,756 158,862