Introduction

Interim Highlights1

  • • Average funds under management up 9% to $100.9 billion

  • • Management and services fees revenue up 8% to $311.4 million

  • • Profit before tax and performance fees of the Funds Management business up 8% to $256.2 million

  • • Net profit after tax up 3% to $202.3 million

  • • Adjusted net profit after tax decreased by 2% to $213.1 million

  • • Interim dividend up 5% to 97.1 cents per share, 75% franked

Kirsten Morton, CFO: 1H21 Financial Results

Brett Cairns, CEO: Business Overview

Q&A: Hamish Douglass, Brett Cairns & Kirsten Morton

1. Percentage changes are relative to six month period ended 31 December 2019.

1H21 Financial Results

Kirsten Morton, Chief Financial Officer

Magellan Financial Group Interim Results

$ million

31 Dec 2020

31 Dec 2019

% change

Management and services fees

311.4

288.2

8%

Performance fees

12.4

41.7

(70%)

Share of after tax results of equity accounted investments

(6.1)

-

n/m

Other revenue and income

9.4

7.1

31%

Adjusted revenue and other income

327.1

337.1

(3%)

Adjusted expenses

(52.6)

(56.0)

(6%)

Adjusted net profit before tax

274.5

281.0

(2%)

Adjusted net profit after tax

213.1

216.8

(2%)

Transaction costs related to strategic initiatives (after tax)

(2.9)

(37.7)

(82%)

Amortisation expense of intangible assets

(2.3)

(2.3)

(2%)

Net unrealised change in fair value of financial assets and liabilities (after tax)

(5.6)

18.9

(130%)

Net profit after tax

202.3

195.7

3%

Key statistics

Diluted EPS (cents per share)

110.6

108.2

2%

Adjusted diluted EPS (cents per share)

116.4

119.9

(3%)

Interim dividend (cents per share)

97.1

92.9

5%

Franking

75%

75%

Adjusted financial measures are adjusted for non-cash items (amortisation expense and unrealised gains/losses) and transaction costs related to strategic initiatives

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Disclaimer

Magellan Financial Group Limited published this content on 11 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 February 2021 23:18:06 UTC.