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Rothschild & Co: 2018 – Half Year results release

25/09/2018

Very strong performance across all businesses, particularly in the second quarter

  • Alexandre de Rothschild became Executive Chairman of Rothschild & Co Gestion in May 2018, following the appointment of David de Rothschild as Chairman of the Supervisory Board of Rothschild & Co 
    François Pérol and Robert Leitão, as Managing Partners of Rothschild & Co Gestion, will now co-Chair the Group Executive Committee 
  • Revenue increased by 12% to €1,007 million (H1 2017: €896 million) and up 44% for the second quarter to €587 million (Q2 2017: €409 million)
  • Net income - Group share excluding exceptionals reached €164 million, up 56% (H1 2017: €105 million) and Net income - Group share including exceptionals : €161 million (H1 2017: €97 million), up 66%
  • Earnings per share (EPS) excluding exceptionals : €2.18, up 55% (H1 2017: €1.41) and EPS including exceptionals : €2.14, up 63% (H1 2017: €1.31) 
  • Negative foreign exchange translation effects of €29 million on revenue but limited to only €1 million on Net income - Group share 

Alexandre de Rothschild, Executive Chairman, commented, 
“The first half of 2018 has produced very strong results with accelerated growth in the second quarter in all our businesses. 
“Our Global Advisory business delivered the highest revenue for the first half ever and has seen excellent progress, particularly in the UK market where we completed a number of high profile transactions. We have maintained our position as the leading M&A advisor globally based on number of deals, and our margin remains strong. We continue to recruit senior bankers in the US market to strengthen our position in this key growth area. 
“In Wealth and Asset Management, net new assets grew significantly in both our French and Swiss businesses, with the rest of the world holding up well. Growth in this business means that we are close to achieving our 2020 operating margin target of 20%. 
“Merchant Banking maintained its solid performance. Its impressive increase in revenues and operating income was largely thanks to continued strong investment performance, growth in management fees as well as a number of material uplifts in valuation on exits.” 

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Download the full Half Year results release (PDF 486KB)

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