Julius Bär Gruppe : Historical Timeseries First Half 2022 | XLSX, 50 KB

Cover

TIME SERIES

Selected performance indicators

2014 - 2022 (unaudited)

Alternative performance measures

These spreadsheets and other communication to investors contain certain financial measures of historical and future performance and financial position that are not defined or specified by IFRS. Management believes that these alternative performance measures (APMs) provide useful information regarding the Group's financial and operating performance. These APMs should be regarded as complementary information to, and not as a substitute for, the IFRS performance measures. The definitions of APMs used in these spreadsheets and other communication to investors, together with (for the most recent periods) reconciliations to the most directly reconcilable IFRS line items, are provided in the Alternative Performance Measures document available from www.juliusbaer.com/APM. For earlier years, reconciliation tables are provided in the Financial Results presentations covering the respective periods, available from www.juliusbaer.com/media-investors/financial-reporting.

&8&K04+000

Client assets and staff

Half-yearly	Yearly
CHF billion	H1 2022	H2 2021	H1 2021	H2 2020	H1 2020	H2 2019	H1 2019	H2 2018	H1 2018	H2 2017	H1 2017	H2 2016	H1 2016	H2 2015	H1 2015	H2 2014	H1 2014	2021	2020	2019	2018	2017	2016	2015	2014
Assets under management (AuM)1	427.9	481.7	485.9	433.7	401.8	426.1	412.3	382.1	399.9	388.4	354.7	336.2	311.4	299.7	284.0	290.6	274.2	481.7	433.7	426.1	382.1	388.4	336.2	299.7	290.6
Monthly average AuM	458.3	482.6	459.8	414.6	403.7	419.7	408.3	396.6	391.1	377.4	347.7	325.5	300.8	292.0	283.9	283.1	261.4	471.2	409.2	414.0	393.9	362.5	313.1	288.0	272.2
Change in AuM
AuM at the beginning of the period	481.7	485.9	433.7	401.8	426.1	412.3	382.1	399.9	388.4	354.7	336.2	311.4	299.7	284.0	290.6	274.2	254.4	433.7	426.1	382.1	388.4	336.2	299.7	290.6	254.4
Change through:
- Net new money1	-1.1	+9.7	+9.9	+10.1	+5.0	+4.4	+6.2	+7.5	+9.9	+11.9	+10.2	+6.4	+5.5	+5.6	+6.5	+5.2	+7.5	+19.6	+15.1	+10.6	+17.4	+22.2	+11.9	+12.1	+12.7
- Other impacts	-52.8	-13.9	+42.3	+21.7	-29.2	+9.4	+24.0	-25.4	+1.6	+28.0	+8.2	+18.4	+6.2	+10.1	-13.1	+11.1	+12.3	+28.5	-7.4	+33.4	-23.7	+30.1	+24.6	-3.0	+23.5
Total net change	-53.9	-4.1	+52.2	+31.8	-24.2	+13.8	+30.2	-17.8	+11.5	+33.7	+18.5	+24.7	+11.7	+15.7	-6.6	+16.4	+19.8	+48.1	+7.6	+44.0	-6.3	+52.3	+36.5	+9.1	+36.2
AuM at the end of the period	427.9	481.7	485.9	433.7	401.8	426.1	412.3	382.1	399.9	388.4	354.7	336.2	311.4	299.7	284.0	290.6	274.2	481.7	433.7	426.1	382.1	388.4	336.2	299.7	290.6
Net new money growth rate1	-0.5%	+4.0%	+4.6%	+5.0%	+2.3%	+2.1%	+3.2%	+3.8%	+5.1%	+6.7%	+6.1%	+4.1%	+3.7%	+3.9%	+4.5%	+3.8%	+5.9%	+4.5%	+3.5%	+2.8%	+4.5%	+6.6%	+4.0%	+4.2%	+5.0%
Breakdown of AuM (% of AuM)
By types of investment
Equities	31%	33%	33%	30%	27%	28%	27%	26%	28%	28%	27%	27%	26%	27%	27%	26%	27%	33%	30%	28%	26%	28%	27%	27%	26%
Bonds (including convertible bonds)	14%	13%	15%	17%	19%	19%	20%	20%	19%	19%	19%	19%	20%	19%	19%	19%	19%	13%	17%	19%	20%	19%	19%	19%	19%
Investment funds	29%	30%	28%	27%	25%	26%	26%	25%	26%	26%	25%	24%	24%	23%	24%	24%	24%	30%	27%	26%	25%	26%	24%	23%	24%
Money market instruments	2%	1%	2%	2%	3%	4%	4%	4%	3%	3%	3%	3%	3%	4%	3%	4%	5%	1%	2%	4%	4%	3%	3%	4%	4%
Client deposits	19%	17%	17%	18%	19%	17%	17%	19%	18%	18%	19%	20%	20%	21%	21%	21%	18%	17%	18%	17%	19%	18%	20%	21%	21%
Structured products	4%	4%	4%	5%	5%	5%	5%	5%	6%	5%	6%	5%	5%	5%	5%	5%	6%	4%	5%	5%	5%	5%	5%	5%	5%
Other	1%	2%	1%	1%	2%	1%	1%	1%	0%	1%	1%	2%	2%	1%	1%	1%	1%	2%	1%	1%	1%	1%	2%	1%	1%
Total	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
By currencies
USD	49%	49%	49%	48%	49%	47%	47%	46%	46%	45%	45%	45%	44%	46%	45%	43%	40%	49%	48%	47%	46%	45%	45%	46%	43%
EUR	18%	19%	19%	19%	19%	20%	21%	22%	23%	23%	22%	22%	23%	21%	21%	22%	24%	19%	19%	20%	22%	23%	22%	21%	22%
CHF	10%	10%	9%	9%	10%	10%	10%	10%	10%	10%	11%	11%	11%	12%	13%	13%	13%	10%	9%	10%	10%	10%	11%	12%	13%
INR	4%	4%	4%	4%	3%	3%	3%	3%	3%	3%	3%	2%	2%	2%	0%	0%	0%	4%	4%	3%	3%	3%	2%	2%	0%
GBP	4%	4%	4%	4%	4%	4%	4%	4%	4%	4%	4%	4%	4%	4%	5%	5%	5%	4%	4%	4%	4%	4%	4%	4%	5%
HKD	3%	3%	4%	4%	4%	3%	3%	3%	4%	4%	3%	3%	2%	3%	3%	2%	2%	3%	4%	3%	3%	4%	3%	3%	2%
SGD	2%	1%	1%	1%	1%	2%	2%	2%	1%	2%	2%	2%	2%	2%	2%	2%	2%	1%	1%	2%	2%	2%	2%	2%	2%
Other	10%	10%	10%	11%	10%	11%	10%	10%	9%	9%	10%	11%	12%	10%	11%	13%	14%	10%	11%	11%	10%	9%	11%	10%	13%
Total	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Assets with discretionary mandate1	70.4	82.1	79.3	68.5	62.8	66.1	63.8	59.6	64.4	62.8	57.3	54.9	51.1	45.4	44.8	45.6	43.1	82.1	68.5	66.1	59.6	62.8	54.9	45.4	45.6
- as % of AuM	16%	17%	16%	16%	16%	16%	15%	16%	16%	16%	16%	16%	16%	15%	16%	16%	16%	17%	16%	16%	16%	16%	16%	15%	16%
Personnel (full-time equivalents)
Number of employees	6,798	6,727	6,667	6,606	6,729	6,639	6,768	6,693	6,643	6,292	6,205	6,026	5,856	5,364	5,378	5,247	5,557	6,727	6,606	6,639	6,693	6,292	6,026	5,364	5,247
Number of relationship managers	1,203	1,274	1,341	1,376	1,456	1,467	1,490	1,501	1,475	1,396	1,381	1,383	1,284	1,217	1,179	1,155	1,216	1,274	1,376	1,467	1,501	1,396	1,383	1,217	1,155
1 For the definition of adjusted results and other alternative performance measures, please refer to the Alternative Performance Measures (APM) document on www.juliusbaer.com/APM.

&8&K04+000

Adjusted P&L

P&L and Key Performance Ratios are based on adjusted1 results
Half-yearly	Yearly
CHF million	H1 2022	H2 2021	H1 2021	H2 2020	H1 2020	H2 2019	H1 2019	H2 2018	H1 2018	H2 2017	H1 2017	H2 2016	H1 2016	H2 2015	H1 2015	H2 2014	H1 2014	2021	2020	2019	2018	2017	2016	2015	2014
Net commission and fee income	1,045	1,141	1,155	982	1,033	967	956	887	1,015	1,009	922	826	739	730	792	772	746	2,296	2,015	1,923	1,903	1,931	1,565	1,522	1,518
Net interest income2	342	319	308	288	333	381	411	400	406	627	622	792	805
Net interest and dividend income	421	566	367	510	327	384	301	347	988	877	711	648
o/w dividend income on trading portfolios (DITP)	14	181	12	180	17	122	9	63	195	192	139	72
Net interest and dividend income excl. DITP	407	385	355	330	310	262	292	284	792	685	572	576
Net income from financial instruments measured at FVTPL2	474	382	503	428	515	317	302	290	354	884	943	618	644
Net trading income	214	90	215	118	219	217	212	115	304	332	436	328
crediting back DITP	14	181	12	180	17	122	9	63	195	192	139	72
Net trading income with DITP credited back	228	271	227	298	236	339	221	178	499	524	575	399
Other income7	4	23	27	33	-31	19	31	2	14	17	14	20	58	10	15	25	28	51	3	50	16	30	78	25	53
Operating income	1,865	1,865	1,993	1,732	1,851	1,684	1,699	1,579	1,789	1,660	1,592	1,428	1,425	1,286	1,408	1,311	1,236	3,858	3,583	3,383	3,368	3,252	2,852	2,694	2,547
Adjusted personnel expenses	842	809	849	740	850	780	833	773	846	787	762	695	623	577	630	590	592	1,657	1,589	1,613	1,619	1,549	1,318	1,207	1,182
Adjusted general expenses	387	361	312	397	300	367	317	364	317	332	294	327	285	479	604	322	251	674	698	683	681	626	612	1,083	573
o/w provisions and losses	74	36	31	87	2	39	22	12	2	22	-2	22	18	206	369	52	8	67	89	61	14	20	40	575	60
Adjusted depreciation and amortisation3	95	108	90	97	84	90	80	48	43	46	42	43	31	50	45	46	39	198	182	169	91	88	74	95	85
Adjusted1 operating expenses	1,323	1,278	1,251	1,234	1,234	1,237	1,229	1,185	1,206	1,166	1,098	1,065	940	1,106	1,280	958	882	2,529	2,469	2,466	2,391	2,264	2,005	2,385	1,840
Adjusted1 profit before taxes	542	587	742	498	616	447	470	394	583	495	494	363	485	181	128	353	354	1,329	1,114	917	977	989	848	309	706
Adjusted1 income taxes	66	79	106	66	92	66	79	64	103	93	90	59	83	10	19	55	66	185	158	145	167	183	142	30	121
Adjusted1 net profit for the Group	476	508	636	432	524	381	391	330	480	402	404	304	402	170	109	298	288	1,144	957	772	810	806	706	279	586
excluding 2015 US provision4	317	384	701
Adjusted net profit attributable to:
Shareholders of Julius Baer Group Ltd.	477	507	636	431	524	381	390	330	480	394	399	301	401	170	108	297	287	1,142	955	771	810	793	701	277	584
Non-controlling interests	-0.2	1.0	0.6	1.0	0.5	0.8	0.1	-0.1	-	8.3	4.5	2.9	1.2	0.9	1.0	1.2	0.6	1.6	1.5	0.9	-0.1	12.8	4.1	1.9	1.8
Adjusted1 EPS attributable to shareholders of
Julius Baer Group Ltd. (CHF)	2.27	2.38	2.95	2.01	2.43	1.75	1.79	1.51	2.20	1.82	1.84	1.38	1.84	0.78	0.49	1.36	1.32	5.34	4.44	3.55	3.72	3.66	3.23	1.27	2.67
excluding 2015 US provision4	1.45	1.75	3.20
Key performance ratios
Gross margin1 (bp)
Contribution from:
Net commission and fee income	46	47	50	47	51	46	47	45	52	53	53	51	49	50	56	55	57	49	49	46	48	53	50	53	56
Net interest income2	15	13	13	14	17	18	20	20	21	13	15	19	20
Net interest and dividend income excl. DITP	22	22	22	22	21	18	21	22	22	22	20	21
Net income from financial instruments measured at FVTPL2	21	16	22	21	26	15	15	15	18	19	23	15	16
Net trading income with DITP credited back	12	16	14	20	16	24	16	14	14	17	20	15
Other income7	0	1	1	2	-2	1	2	0	1	1	1	1	4	1	1	2	2	1	0	1	0	1	2	1	2
Gross margin1 (bp)	81.4	77.3	86.7	83.6	91.7	80.2	83.2	79.6	91.5	88.0	91.6	87.7	94.7	88.1	99.2	92.6	94.6	81.9	87.6	81.7	85.5	89.7	91.1	93.6	93.5
Adjusted expense margin 1,5 (bp)	54.5	51.5	53.0	55.3	61.1	57.1	59.1	59.2	61.6	60.6	63.3	64.1	61.3	61.6	64.2	64.0	66.9	52.3	58.2	58.1	60.4	61.9	62.7	62.9	65.4
Adjusted cost/income ratio1,5 (%)	67.0	66.6	61.2	66.2	66.6	71.1	71.0	74.3	67.3	68.9	69.1	73.0	64.7	69.9	64.7	69.1	70.8	63.8	66.4	71.1	70.6	69.0	68.9	67.2	69.9
Adjusted pre-tax margin1 (bp)	23.7	24.3	32.3	24.0	30.5	21.3	23.0	19.9	29.8	26.2	28.4	22.3	32.2	12.4	9.0	24.9	27.1	28.2	27.2	22.1	24.8	27.3	27.1	10.7	25.9
Adjusted tax rate6 (%)	12.1	13.5	14.3	13.2	14.9	14.7	16.9	16.3	17.7	18.8	18.3	16.3	17.1	5.7	15.2	15.5	18.7	13.9	14.2	15.8	17.1	18.5	16.8	9.7	17.1
1 For the definition of adjusted results and other alternative performance measures, please refer to the Alternative Performance Measures (APM) document on www.juliusbaer.com/APM.
The APM document also contains detailed reconciliations to the most directly reconcilable IFRS line items for recent periods. For earlier years, reconciliation tables are provided in the Financial Results presentations covering the respective periods,
available from www.juliusbaer.com/media-investors/financial-reporting.
2 The 2018 and 2019 numbers have been aligned to the improved structure of interest and dividend reporting related to financial instruments measured at FVTPL.
3 Total of line items 'depreciation of property and equipment', 'adjusted amortisation of customer relationships', 'adjusted amortisation of intangible assets'.
4 Excluding in 2015 the CHF 422.3 million impact on net profit of the USD 547.25 million settlement amount provisioned in connection with the final settlement with the US Department of Justice reached on 5 February 2016 concerning Julius Baer's legacy US cross-border business.
5 Calculated using adjusted operating expenses, excluding provisions and losses.
6 Adjusted income taxes divided by adjusted profit before taxes.
7 Other income is the total of income statement items 'other ordinary results' and 'net credit losses/(recoveries) on financial assets'.

&8&K04+000

Balance sheet & capital

Half-yearly	Yearly
CHF million	H1 2022	H2 2021	H1 2021	H2 2020	H1 2020	H2 2019	H1 2019	H2 2018	H1 2018	H2 2017	H1 2017	H2 2016	H1 2016	H2 2015	H1 2015	H2 2014	H1 2014	2021	2020	2019	2018	2017	2016	2015	2014
Total assets	115,835	116,306	113,578	109,137	107,359	102,035	103,655	102,898	103,540	97,918	93,151	96,207	87,751	84,116	80,149	82,234	73,785	116,306	109,137	102,035	102,898	97,918	96,207	84,116	82,234
Loans	47,296	50,417	51,022	47,208	46,496	48,427	46,665	45,323	46,662	46,624	40,733	38,419	36,723	36,381	32,761	33,669	30,596	50,417	47,208	48,427	45,323	46,624	38,419	36,381	33,669
Due to customers	83,411	83,201	80,064	77,785	76,488	72,913	71,084	71,506	70,237	67,637	65,763	67,495	64,578	64,781	60,199	61,821	54,710	83,201	77,785	72,913	71,506	67,637	67,495	64,781	61,821
Loan-to-deposit ratio (%)1	57	61	64	61	61	66	66	63	66	69	62	57	57	56	54	54	56	61	61	66	63	69	57	56	54
Equity attributable to shareholders of Julius Baer Group Ltd.	6,084	6,734	6,717	6,426	6,280	6,180	6,077	6,040	5,789	5,825	5,406	5,330	5,134	4,936	4,872	5,329	5,197	6,734	6,426	6,180	6,040	5,825	5,330	4,936	5,329
Goodwill and other intangible assets	2,611	2,661	2,664	2,637	2,826	2,866	2,978	2,932	2,935	2,872	2,846	2,834	2,784	2,316	2,284	2,364	2,345	2,661	2,637	2,866	2,932	2,872	2,834	2,316	2,364
Tangible equity	3,473	4,074	4,053	3,788	3,454	3,314	3,099	3,108	2,853	2,952	2,560	2,496	2,350	2,619	2,589	2,965	2,853	4,074	3,788	3,314	3,108	2,952	2,496	2,619	2,965
Return on tangible equity (RoTE)1 (%)	25	25	32	24	31	24	25	22	33	29	32	25	32	13	8	20	20	29	27	24	28	30	28	10	20
excluding 2015 US provision2	24	28	26
Return on common equity Tier 1 capital (RoCET1)1 (%)	30	29	38	28	36	27	28	24	36	31	34	28	36	14	8	22	21	34	32	27	30	32	32	11	22
excluding 2015 US provision2	26	30	28
Basel III3
Risk-weighted assets	20,548	20,274	21,458	21,121	21,285	20,495	21,700	21,338	19,471	19,601	20,600	20,993	20,424	19,425	18,308	17,205	16,462	20,274	21,121	20,495	21,338	19,601	20,993	19,425	17,205
CET1 capital	3,075	3,316	3,583	3,157	2,950	2,877	2,837	2,731	2,677	2,643	2,458	2,231	2,090	2,368	2,448	2,713	2,681	3,316	3,157	2,877	2,731	2,643	2,231	2,368	2,713
Tier 1 capital	4,702	4,748	4,754	4,296	4,119	4,421	4,387	3,933	3,878	4,098	3,603	3,366	3,018	3,277	3,042	3,306	3,267	4,748	4,296	4,421	3,933	4,098	3,366	3,277	3,306
Total capital	4,802	4,859	4,890	4,430	4,250	4,522	4,496	3,991	3,935	4,164	3,686	3,442	3,146	3,346	3,115	3,380	3,339	4,859	4,430	4,522	3,991	4,164	3,442	3,346	3,380
Leverage exposure	116,511	118,274	116,729	107,194	106,078	101,002	102,830	101,679	102,407	96,949	92,048	95,202	86,556	82,458	77,968	80,099	72,890	118,274	107,194	101,002	101,679	96,949	95,202	82,458	80,099
CET1 capital ratio (%)	15.0	16.4	16.7	14.9	13.9	14.0	13.1	12.8	13.7	13.5	11.9	10.6	10.2	12.2	13.4	15.8	16.3	16.4	14.9	14.0	12.8	13.5	10.6	12.2	15.8
Tier 1 capital ratio (%)	22.9	23.4	22.2	20.3	19.3	21.6	20.2	18.4	19.9	20.9	17.5	16.0	14.8	16.9	16.6	19.2	19.8	23.4	20.3	21.6	18.4	20.9	16.0	16.9	19.2
Total capital ratio (%)	23.4	24.0	22.8	21.0	20.0	22.1	20.7	18.7	20.2	21.2	17.9	16.4	15.4	17.2	17.0	19.6	20.3	24.0	21.0	22.1	18.7	21.2	16.4	17.2	19.6
Tier 1 leverage ratio (%)	4.0	4.0	4.1	4.0	3.9	4.4	4.3	3.9	3.8	4.2	3.9	3.5	3.5	4.0	3.9	4.1	4.6	4.0	4.0	4.4	3.9	4.2	3.5	4.0	4.1
Dividend per share (CHF)	2.60	1.75	1.50	1.50	1.40	1.20	1.10	1.00
Dividend pay-out ratio (%)1	49	41	44	41	40	38	89	38
excluding 2015 US provision2	35
1 For the definition of adjusted results and other alternative performance measures, please refer to the Alternative Performance Measures (APM) document on www.juliusbaer.com/APM.
2 Excluding in 2015 the CHF 422.3 million impact on net profit of the USD 547.25 million settlement amount provisioned in connection with the final settlement with the US Department of Justice reached on 5 February 2016 concerning Julius Baer's legacy US cross-border business.
3 The multi-year Basel III phase-in period ended at the start of 2018. As a consequence, the former differentiation between 'phase-in' and 'fully-applied' capital ratios is no longer relevant. Therefore, all ratios on this page reflect 'fully-applied' Basel III capital ratios.

&8&K04+000