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Rothschild & Co | Annual Report 2017
167
1. Overview
4. Financial statements
3.
Management report
2. Business review
Note 34 – Segmental information
The table below presents a segmental analysis by business line, used internally for assessing business performance, which is then adjusted to conform to
the Group’s statutory accounting policies. The reconciliation to IFRS mainly reflects: the treatment of profit share paid to French partners as non-controlling
interests; accounting for deferred bonuses over the period that they are earned; the application of IAS 19 for defined benefit pension schemes; and
reallocation of impairments and certain operating income and expenses for presentational purposes.
Following the change of financial year end, further consolidated income statement data has been prepared in summarised form to aid comparison between
reporting periods. This summarised information includes additional segmental information and is set out in Section I. Highlights.
Segmental information split by business
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
01/04/17
31/12/17
(9 months)
Net banking income
855,200
385,900
165,500
32,603
1,439,203
(16,260)
1,422,943
Operating expenses
(736,700)
(347,000)
(50,200)
(49,703)
(1,183,603)
100,522
(1,083,081)
Cost of risk
–
–
–
–
–
(4,532)
(4,532)
Operating income
118,500
38,900
115,300
(17,100)
255,600
79,730
335,330
Share of profits of associated
entities
–
–
–
–
–
12,036
12,036
Non-operating income
–
–
–
–
–
6,472
6,472
Profit before tax
118,500
38,900
115,300
(17,100)
255,600
98,238
353,838
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
01/04/16
31/03/17
(12 months)
Net banking income
1,189,503
404,692
141,037
28,936
1,764,168
2,963
1,767,131
Operating expenses
(986,615)
(390,777)
(51,540)
(64,420)
(1,493,352)
166,148
(1,327,204)
Cost of risk
–
–
–
–
–
(11,265)
(11,265)
Operating income
202,888
13,915
89,497
(35,484)
270,816
157,846
428,662
Share of profits of associated
entities
–
–
–
–
–
424
424
Non-operating income
–
–
–
–
–
7,654
7,654
Profit before tax
202,888
13,915
89,497
(35,484)
270,816
165,924
436,740
Net banking income split by geographical segments
In thousands of euro
01/04/17
31/12/17
(9 months)
% 01/04/16
31/03/17
(12 months)
%
France
433,603
31% 507,632
29%
United Kingdom and Channel Islands
348,369
25% 516,530
29%
Rest of Europe
256,835
18% 250,009
14%
Americas
229,640
16% 280,013
16%
Switzerland
90,507
6% 121,440
7%
Australia and Asia
46,394
3%
65,215
4%
Other
17,595
1%
26,292
1%
TOTAL
1,422,943
100%
1,767,131
100%
The breakdown by geographic segment is based on the geographic location of the entity that records the income.