Rothschild & Co: 2017 – Annual results release

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Strong performance across all businesses

As a result of the change in the end of the financial year from 31 March to 31 December, the statutory reporting for 2017 covers only nine months (April to December 2017). Rothschild & Co has therefore chosen to present its 12 month consolidated results for the full 2017 calendar year (2017) versus the 2016 calendar year (2016), to enable a better understanding of its performance. Information for the nine month period, from April to December 2017, is presented in Appendix C of the full release document below

  • Overall revenue for 2017 increased 12% to €1,910 million (2016: €1,713 million) of which Martin Maurel full consolidation contributed €105 million, and for the fourth quarter up 20% to €571 million (Q4 2016: €477 million)
  • Net income - Group share excluding exceptionals reached €247 million, up 35% (2016: €183 million) and Net income - Group share including exceptionals : €236 million (2016: €179 million), up 32%
  • Earnings per share (EPS) excluding exceptionals : €3.33, up 25% (2016: €2.66) and EPS including exceptionals : €3.18, up 22% (2016: €2.60)
  • Negative foreign exchange translation effects of €46 million on revenue but limited to only €4 million on Net income - Group share
  • Dividend of €0.68 per share

Nigel Higgins and Olivier Pécoux, Managing Partners of Rothschild & Co, commented:
“Rothschild & Co has produced another set of strong results with good growth in revenue and profit.
“Our Global Advisory business delivered another record annual revenue performance with a healthy balance between M&A and Financing Advisory despite lower global M&A market activity levels. Our margins remain satisfactory thanks to continuing cost discipline.
“The consolidation of Martin Maurel combined with good organic growth resulted in a strong increase in our revenue in Private Wealth and Asset Management. Tight cost control and improvement of loss making activities significantly helped to grow our margin, which is on track to reach our target.
“Our Merchant Banking business, where profitability has developed into a major contributor to the group's growth, continues to increase assets under management, revenue and margin. Our teams have now developed a recognised, niche position in Europe with a solid track record of long-term value creation.
“We will propose a dividend to shareholders of €0.68 per share, which, although at the same level as last year, represents an effective increase since it is only for a nine month period.”

- ENDS -

Download the full release (PDF 486 KB)