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Rothschild & Co | Annual Report 2017
The table below presents a segmental analysis by business line, which has been prepared on the same basis as described in note 34 to the consolidated
financial statements.
Notes to the consolidated financial statements
In thousands of euro
Rothschild
Global
Advisory
Rothschild
Private Wealth
& Asset
Management
Rothschild
Merchant
Banking
Other business
and corporate
centre
Total before
IFRS
reconciliation
IFRS
reconciliation
01/01/17
31/12/17
(12 months)
Net banking income
1,183,420
514,176
185,039
36,116 1,918,751
(8,595)
1,910,156
Operating expenses
(998,120)
(459,559)
(65,039)
(67,433)
(1,590,151)
149,391 (1,440,760)
Cost of risk
–
–
–
–
–
(13,448)
(13,448)
Operating income
185,300
54,617
120,000
(31,317)
328,600
127,348
455,948
Share of profits of
associated entities
–
–
–
–
–
12,268
12,268
Non-operating income
–
–
–
–
–
9,101
9,101
Profit before tax
185,300
54,617
120,000
(31,317)
328,600
148,717
477,317
In thousands of euro
Rothschild
Global
Advisory
Rothschild
Private Wealth
& Asset
Management
Rothschild
Merchant
Banking
Other business
and corporate
centre
Total before
IFRS
reconciliation
IFRS
reconciliation
01/01/16
31/12/16
(12 months)
Net banking income
1,170,551
368,017
133,300
33,992 1,705,860
6,710 1,712,570
Operating expenses
(981,351)
(366,874)
(50,900)
(73,935)
(1,473,060)
159,703 (1,313,357)
Cost of risk
–
–
–
–
–
(12,822)
(12,822)
Operating income
189,200
1,143
82,400
(39,943)
232,800
153,591
386,391
Share of profits of
associated entities
–
–
–
–
–
355
355
Non-operating income
–
–
–
–
–
6,524
6,524
Profit before tax
189,200
1,143
82,400
(39,943)
232,800
160,470
393,270
II Preparation of the financial statements
A. Information regarding the Company
The consolidated financial statements of Rothschild & Co SCA Group (the Group) for the nine months ended 31 December 2017 are presented in
accordance with IFRS applicable at the reporting date, as adopted in the European Union by EC Regulation No. 1606/2002. The format used for the
financial statements is a banking format. It is consistent with Recommendation No. 2013-04 of 7 November 2013 of the French Accounting Standards
Authority (
Autorité des normes comptables
). The statements cover the period from 1 April 2017 to 31 December 2017.
The consolidated accounts were approved by R&Co Gestion SAS, the Managing Partner of R&Co, on 6 March 2018 and considered for verification
and control purposes by the Supervisory Board on 13 March 2018.
At 31 December 2017, the Group’s holding company was R&Co, a French partnership limited by shares (
société en commandite par actions
),
headquartered at 23 bis, avenue de Messine, 75008 Paris (Paris Trade and Companies Registry Number 302 519 228). The Company is listed
on the Eurolist market of Euronext Paris (Compartment A).
B. General principles
The notes to the accounts have been prepared having taken into account the understanding, relevance, reliability, comparability and materiality
of the information provided.
C. Subsequent events
On 3 January 2018, the Group acquired an additional 4,049 shares in Martin Maurel Sella Banque Privée SAM, a Monaco subsidiary. The shares
were bought for cash of €13.95 million. The Group now controls 100% of this subsidiary.