Investor Presentaiton
Net and adjusted net earnings
☐
■
Great-West and IGM contributions:
.
•
Great-West results reflect benefit of recent strategic
transactions and operational improvements,
supported by disciplined expense management
IGM's average AUM&A¹ was $260.3 billion in
Q3 2023 vs. $247.2 billion in Q3 2022
GBL contribution includes a gain on
deconsolidation of Webhelp of $323 million,
including the reversal of the NCI put right
liabilities
Corporate operating expenses include an
$8 million net loss on change in fair value of share-
based compensation-related liabilities, compared
with a $2 million net gain in Q3 2022
($ in millions, except per share amounts)
Net and adjusted net earnings (2)
Great-West
Q3 2023 Q3 2022
NAV
Earnings
Focused
Focused
649
539
IGM
130
134
Effect of consolidation (3)
2
10
781
683
GBL (4)
315
(50)
Sagard and Power Sustainable (5)
(11)
(45)
ChinaAMC
15
Other investments and standalone businesses
(6)
34
14
Corporate operating expenses
(7)
(50)
(34)
Financing charges and income taxes
(15)
(16)
Dividends on non-participating and
perpetual preferred shares
(47)
(47)
Adjusted net earnings from continuing operations (8)
Adjustments (9)
1,007
520
(10)
122
Net earnings from continuing operations (8)
997
642
Net earnings (loss) from discontinued ops. - Putnam (10)
Net earnings (8)
(22)
1
975
643
Earnings per share - basic (8)
Adjusted net earnings from continuing operations
Adjustments
1.52
0.78
(0.02)
0.18
Net earnings from continuing operations
1.50
0.96
Net earnings (loss) from discontinued ops. - Putnam
Net earnings
(0.03)
1.47
0.96
4
5
Q3 2022 included $14 million negative impact from Effect of consolidation.
Consists of earnings (losses) of the Corporation's investment platforms, including asset
management and investing activities.
6 Includes the results of Lion, LMPG and Peak.
7
Includes operating expenses and depreciation.
Note: Great-West, IGM and GBL's contributions to adjusted net earnings based on PCC share of
earnings reported by each respective company.
1 Refer to the "Other Measures" section at the beginning of this presentation for more information.
2 For a reconciliation of Great-West, IGM and Sagard and Power Sustainable's non-IFRS adjusted net
earnings to their net earnings, refer to the "Lifeco", "IGM Financial", and "Sagard and Power
Sustainable" sections in Part A of the most recent interim MD&A, which detail the contribution to net
earnings and adjusted net earnings for each, from continuing operations where applicable.
3 Refer to the information on Effect of Consolidation included in the "Contribution to net earnings and
adjusted net earnings" section of the most recent interim MD&A for further details.
8 Attributable to participating shareholders.
9
Refer to the "Adjustments" section in Part A of the Corporation's most recent interim MD&A for
further details.
10 Comparative results have been restated to exclude net earnings (loss) from discontinued
operations related to Putnam.
POWER CORPORATION OF CANADA QUARTERLY RESULTS PRESENTATION | Q3 2023
10View entire presentation