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Rothschild & Co: 2018 – Annual results release

12/03/2019

Very strong year with excellent performance across the Group

  • Revenue increased by 3% to €1,976 million (2017: €1,910 million)
  • Net income - Group share excluding exceptionals reached €303 million, up 23% (2017: €247 million) and Net income - Group share including exceptionals: €286 million (2017: €236 million), up 21%
  • Earnings per share (EPS) excluding exceptionals: €4.10, up 23% (2017: €3.33) and EPS including exceptionals: €3.88, up 22% (2017: €3.18)
  • Negative foreign exchange translation effects of €26 million on revenue but limited to €3 million on Net income - Group share
  • Dividend of €0.79, up 10%

Alexandre de Rothschild, Executive Chairman, commented:

“2018 has been a very strong year with an excellent performance throughout the Group, confirming our strategy of building synergies across all three businesses.

“Global Advisory's model of growing long-term relationships with clients continues to prove extremely successful. For the sixth consecutive year, revenue and profit grew and for 2018 it turned in the highest performance in our history, delivering significant profitability for the Group. We maintained our position as the leading M&A adviser in number of deals on a global basis. Our focus for growth remains on the US business where we continue to see significant potential for the future.

“Wealth & Asset Management enjoyed robust growth in net new assets, thanks to our Wealth Management businesses across Europe, partly compensating for the negative market performance in the fourth quarter. Despite the increasing difficult markets, we enjoyed a steady growth in profitability. Finally, we completed the sale of Trust at the end of February 2019 in line with our strategic decision to refocus on our core wealth and asset management business.

“Merchant Banking saw an impressive increase in assets under management, notably due to successful fund raisings. Consequently, its recurring revenue streams are increasing as a proportion of the total, creating a less volatile revenue stream over time. Ten years after its creation, this division has become a significant contributor to Group profitability.”

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Download the full results (PDF 513 KB)

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