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Investor Presentaiton

Overview of Macquarie Operating Groups Income statement key drivers 1Q24 Update 2H23 1H23 FY23 FY22 $Am $Am $Am $Am • Net interest and trading income 6,313 4,210 10,523 6,856 Fee and commission income 3,526 3,032 6,558 6,887 Share of net (losses)/profits from (52) (61) (113) 240 associates and joint ventures Net credit impairment charges (213) (175) (388) (250) • Net other impairment 45 (111) (66) (259) reversals/(charges) · Investment income 588 1,549 2,137 3,291 Other income and charges 274 197 471 559 Net operating income 10,481 8,641 19,122 17,324 Employment expenses (4,090) (3,613) (7,703) (6,725) Brokerage, commission and fee • (511) (517) (1,028) (1,029) expenses Other operating expenses (1,916) (1,483) (3,399) (3,031) • • Total operating expenses (6,517) (5,613) (12,130) (10,785) • Operating profit before tax and 3,964 3,028 6,992 6,539 • non-controlling interests • • Income tax expense (1,089) (735) (1,824) (1,586) Loss/(Profit) attributable to non- 2 12 14 controlling interests (247) • • Profit attributable to MGL 2,877 2,305 5,182 4,706 shareholders O Macquarie Group Limited Outlook Appendix Net interest and trading income of $A10,523m, up 53% on FY22 • Increased inventory management and trading income driven by trading gains from regional supply and demand imbalances primarily in North American Gas and Power markets in CGM Increased risk management revenue reflecting strong contributions across the platform, particularly from Gas and Power, Global Oil and Resources in CGM Growth in the average loan portfolio and deposit volumes, and improved margins from the rising interest rate environment in BFS Fee and commission income of $A6,558m, down 5% on FY22 • • Lower mergers and acquisitions fee income on a strong prior year and lower capital markets fee income due to weaker market activity in Macquarie Capital Significant disposition fee income relating to MIC in the prior year in MAM Lower base fees in Public Investments driven by negative market movements and outflows in equity funds, partially offset by acquisitions in the prior year and foreign exchange movements in MAM Partially offset by: • Higher performance fees in MAM Higher base fees in Private Markets due to fund raising and investments made by Private Markets-managed funds and mandates in MAM Share of net losses from associates and joint ventures of $A113m, significantly down from FY22 • Significant equity accounted income from MIC and higher revaluation gains on underlying assets in the prior year in MAM Changes in the composition and performance of Macquarie Capital's investment portfolio Credit and other impairment charges of $A454m, down 11% on FY22 Lower other impairment charges recognised on a small number of underperforming equity investments in the current year in MAM and Macquarie Capital Partially offset by: Higher net credit impairment charges due to deterioration in the macroeconomic outlook Release of COVID-19 overlays in the prior year An impairment reversal related to MAM's investment in MIC in the prior year Investment income of $A2,137m, down 35% on FY22 due to Lower gains on asset realisations in the green energy sector in MAM Non-recurrence of a gain on the partial sale of the UK Meters portfolio of assets in the prior year in CGM Negative revaluation on equity investments and fewer material asset realisations in the current year in Macquarie Capital Total operating expenses of $A12,130m, up 12% on FY22 Higher salary and related expenses due to higher average headcount and wage inflation Higher profit share expense and share-based payments expense mainly as a result of the performance of the Group Partially offset by: • One-off acquisition expenses incurred in the prior year in MAM 52 529
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