Rothschild & Co: 2022 – Half-year results release

Strong first half performance

  • Business performance:
     
    • Global Advisory: continued strong performance with record first-half revenue of €857 million, up 3% (H1 2021: €833 million). Profit before tax (PBT) of €163 million for the period (H1 2021: €165 million), representing a profit margin of 19%
    • Wealth and Asset Management: solid first half-year performance despite declining markets, with revenue up 23% to €337 million (H1 2021: €274 million) and PBT of €71 million, up 22% (H1 2021: €58 million). Assets under Management (AuM) decreased to €99.6 billion (-4% versus December 2021) due to negative market performance (€9.1 billion) partly offset by strong Net New Assets (NNA) of €2.8 billion in Europe and an acquisition in France (+€3.0 billion)
    • Merchant Banking: first-half revenue was €188 million (H1 2021: €235 million) reflecting continued solid investment performance combined with steadily increasing recurring revenue driven by AuM growth (€21.6 billion as at 30 June 2022, up 18% versus December 2021). Revenue was down 20% compared to H1 2021, a period which had benefited from exceptional investment performance revenue. This led to lower PBT of €121 million (H1 2021: €185 million)
  • Revenue €1,375 million, up 2% (H1 2021: €1,350 million)
  • Net income - Group share1 : €249 million, down 28% (H1 2021: €346 million)
  • Earnings per share (EPS): €3.43, down 28% (H1 2021: €4.78)
  • Foreign exchange translation effects increased revenue by €31 million and Net income – Group share by €1 million


Alexandre de Rothschild
, Executive Chairman, commented:

“The performance in the first six months of 2022 has continued to be strong, after a record year in 2021.

“The strength of our business model, which is based on client focus and clear long-term strategies for each business, means that we are reasonably confident that the positive momentum seen in the first half will continue for the remainder of the year, but, as always, subject to the evolution of geopolitical events and the financial environment."

1 There were no exceptional items in H1 2022 or H1 2021 

- ENDS -

Download the full Half year results release (PDF 341 KB)

More Information

Investor Relations


Read more articles

  • Monthly Market Summary: January 2023

    Insights

    Capital markets experienced their strongest January gains in years. Moderating inflation, easing energy prices and expectations of a slowing tightening cycle, particulary in the US, buoyed both stock and bond markets.

  • Portfolio Management and Rising Rates

    Investment / strategy

    Over the span of just a few months, we witnessed a spectacular rise in interest rates. This historical increase took place against the backdrop of a radical shift in monetary policies, as the central banks, with the Federal Reserve in the lead, have made the fight against the return of runaway inflation their priority. In this environment, portfolio management strategies need to adapt, in particular by seeking new avenues of diversification and some opportunities.

  • Strategy blog: UK mortgage rates

    Insights

    After recent record low interest rates, variable and fixed mortgage rates are surging to levels not seen since the Global Financial Crisis. In this Strategy Blog, we consider whether fixed or variable is the better option in the ever-evolving economic environment.

  • Rothschild & Co expands wealth management pension offering and strengthens team in Zurich

    Press releases

    Rothschild & Co will enter into a strategic partnership with pension consulting firm, PensExpert AG. Dr Thomas Bamert will join Rothschild & Co in Zurich as Head of Wealth and Pension Planning, Switzerland.

  • Rothschild & Co’s Wealth Management business in Israel expands with three key hires

    Press releases

    Following the launch of a new representative office in Israel for its Wealth Management business in August 2022, Rothschild & Co has hired three new Client Advisers to expand its local team - Oren Shapira, Noah Gordon and Rotem Grinfeld.

  • Thematic Insights: The Silver Economy

    Insights

    According to the World Bank, average global life expectancy shot up from 65 in the early 1990s to 73 in 2020. This brings about several opportunities for economic development. What does this mean for investors? And how can one capture returns in a market set for profound changes?