EFG INTERNATIONAL AG EFG INTERNATIONAL
FY 2022 results presentation
22 February 2023 - Zurich
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Alternative performance measures and Reconciliations: This presentation and other communications to investors contain certain financial measures of historical and future performance and financial position that are not defined or specified by IFRS, such as "net new assets", "Assets under Management", "revenue margin", "operating profit", "underlying net profit", "cost/income ratio", "Liquidity Coverage Ratio", "Loan/deposit ratio", "Return on tangible equity". These alternative performance measures (APM) should be regarded as complementary information to, and not as a substitute for the IFRS performance measures. The definitions of APM used in this presentation and other communications to investors, together with reconciliations to the most directly reconcilable IFRS line items, are provided in the section headed "Alternative performance measures" of the Annual Report 2022 available at www.efginternational.com/ch/investors/financial-results
Presentation of full-year 2022 financial results: The reconciliation of underlying
net profit to IFRS results is included on slide 34: The only items excluded from underlying performance are the "contribution of the life insurance portfolios", the "legacy legal costs and provisions" and the "acquisition-relatedintangible amortisation".
EFG International I Full-year 2022 results | 22 February 2023 | Page 2 |
Key highlights
Giorgio Pradelli
Chief Executive Officer
EFG International I Full-year 2022 results | 22 February 2023 | Page 3 |
Record underlying net profit and dividend up 25%
249mn +48%
Underlying net profit, in CHF
16.4% +5.8pp
Underlying RoTE
0.45 +25%
Dividend per share, in CHF
Strong operational performance
- Solid NNA of CHF 4.2 billion, with positive inflows throughout the year; 4Q22 marks the 15th consecutive quarter of positive NNA
- Top-linegrowth supported by rising interest rates, and stable costs, resulting in record underlying net profit
- IFRS net profit of CHF 202.4 million, reflecting final settlement of longstanding legacy issue
Value creation and attractive returns
- Strong organic capital generation, supporting growth and transformation of the bank for the benefit of clients
- Delivered value for shareholders, with 25% increase in proposed dividend to CHF 0.45 per share and buyback of 7.7 million shares in 2022
- Further strengthening of capital position with CET1 of 16.6% on 01 January 2023; excess capital for potential M&A or additional distributions
EFG International I Full-year 2022 results | 22 February 2023 | Page 4 |
Successful completion of 2019-2022 strategic plan underscores resilience and agility of business model
Financial targets | End-2022 | |||||
for end-2022 | ||||||
NNA growth | 4-6% | 4.7% | ||||
average1 | average | |||||
Revenue margin | 91 bps2 | |||||
85 bps | ||||||
Cost/income ratio | 72-75% | 75.4% | ||||
Underlying RoTE | >15% | 16.4% | ||||
- Compound Annual Growth Rate (CAGR) over the period 2019-2022
- 2H22
Cumulative figures for 2019-2022 in CHF
Net new assets
26.6bn
Underlying net profit
639mn
Dividends and share buybacks
469mn
EFG International I Full-year 2022 results | 22 February 2023 | Page 5 |
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EFG International AG published this content on 26 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2023 13:34:06 UTC.
