AvH released FY20 results that came just a hair below our estimates, serving as proof of the resilience brought by its diversified portfolio of assets. Private Banking closed a strong year that saw its AUM climb to a record €54bn, driving a net result contribution that helped offset the pandemic-led weakness at DEME. The still sunny outlook for Private Banking and an improving scenario for dredging thanks to a record €4.5bn order backlog should support AvH’s positive tone for 2021.
01 Mar 2021
FY20: the private banking star will keep on shining
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FY20: the private banking star will keep on shining
- Published:
01 Mar 2021 -
Author:
Jorge Velandia -
Pages:
3
AvH released FY20 results that came just a hair below our estimates, serving as proof of the resilience brought by its diversified portfolio of assets. Private Banking closed a strong year that saw its AUM climb to a record €54bn, driving a net result contribution that helped offset the pandemic-led weakness at DEME. The still sunny outlook for Private Banking and an improving scenario for dredging thanks to a record €4.5bn order backlog should support AvH’s positive tone for 2021.