ABC arbitrage group (ABCA) reported net income of €16.5m in FY23, 43% lower than FY22, but in line with market conditions. Financial markets in 2023 were characterised by lower volatility than in the previous three years, affecting ABCA’s volatility-based strategies. At the same time, mergers and acquisitions volume was 30% lower year-on-year, mostly due to higher borrowing costs, limiting acquisition arbitrage opportunities. In 2023, ABCA also had a temporary halt in its activities in digital assets following difficulties in the ecosystem. Looking ahead, ABCA maintains the ambitions laid out in its Springboard 2025 plan, and confirms its intention to pay a minimum dividend of €0.30 per annum, implying a yield of 7.8% on the current share price.
