As part of its regular investor communications program,
The presentation includes a 1H21 update to the short-term outlook statement Macquarie provided at the Group's Annual General Meeting on
Macquarie states that market conditions are likely to remain challenging, especially given the significant and unprecedented uncertainty caused by the worldwide impact of COVID-19 and the uncertain speed of the global economic recovery.
The extent to which these conditions will adversely impact Macquarie's overall FY21 profitability is uncertain, making short-term forecasting extremely difficult. Accordingly, Macquarie is currently unable to provide meaningful earnings guidance for FY21.
Macquarie currently anticipates the 1H21 result to be down approximately 35 per cent on 1H20 and down approximately 25 per cent on 2H20.
The range of factors that will influence our short-term outlook include: The duration and severity of the COVID-19 pandemic
The uncertain speed of the global economic recovery
Global levels of government support for economies
The completion rate of transactions and period-end reviews
Geographic composition of income
The impact of foreign exchange
Potential regulatory changes and tax uncertainties
Market conditions and the impact of geopolitical events
We continue to maintain a cautious stance, with a conservative approach to capital, funding and liquidity that positions us well to respond to the current environment.
Contact:
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