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Rothschild & Co | Annual Report 2017
Results for the 2017 financial year
The statutory financial period 2017 started on 1 April 2017 and ended on 31 December 2017, due to the change of financial year end decided by
Rothschild & Co’s shareholders at the General Meeting held on 28 September 2017 (please refer to Section 4.2 for more details). To aid comparison
between reporting periods, further consolidated income statement data has been prepared comparing the 12 months to December 2017 to the
12 months to December 2016.
1 Summary presentation of the results of the Group (consolidated accounts)
1.1 Consolidated results
In millions of euro
01/01/17
31/12/17
(12 months)
01/01/16
31/12/16
(12 months)
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
INCOME STATEMENT
Revenues
1,910
1,713
1,423
1,767
Staff costs
(1,087)
(1,013)
(821)
(1,016)
Administrative expenses
(320)
(268)
(237)
(279)
Depreciation and amortisation
(34)
(32)
(26)
(32)
Impairments
(13)
(14)
(4)
(11)
Operating income
456
386
335
429
Other income/(expense) (net)
21
7
19
7
Profit before tax
477
393
354
436
Consolidated net income
412
331
315
366
Net income – Group share
236
179
191
186
Exceptionals
(1)
11
4
8
7
Net income – Group share excl. exceptionals
(1)
247
183
199
193
Earnings per share
(2)
€3.18
€2.60
€2.55
€2.64
EPS excl. exceptionals
(2)
€3.33
€2.66
€2.66
€2.74
Return on Tangible Equity (ROTE)
16.4%
14.1%
16.1%
14.0%
ROTE excl. exceptionals
17.2%
14.4%
16.8%
14.6%
BALANCE SHEET
Total assets
12,116
8,916
12,116
12,177
Cash and amounts due from central banks
3,869
3,284
3,869
3,907
Loans and advances to customers
2,990
1,554
2,990
2,867
Due to customers
7,771
5,265
7,771
8,063
Non-controlling interests
540
613
540
472
Shareholders’ equity – Group share
1,912
1,540
1,912
1,829
(1) Exceptional items comprise Martin Maurel integration cost and a one-off tax credit.
(2) Diluted EPS is €3.12 for 12 months ended 31 December 2017 (versus for 12 months ended 31 December 2016: €2.56) – €2.50 for nine months ended 31 December 2017 (versus for 12 months
ended 31 March 2017: €2.60).
Details of the consolidated results for 2017 are set out on pages 118 onwards of this report.