2023 Full-Year Result

    Annual Report

    Download full report (PDF)

    Macquarie (MGL and its subsidiaries, the Consolidated Entity) is a global financial group with offices in 34 markets. Founded in 1969, Macquarie now employs over 20,500 people globally, has total assets of $A387.9 billion and total equity of $A34.1 billion as at 31 March 2023.

    Financial highlights

    FY2023 net profit

    $A0m

    10% on prior year

    FY2023 operating expenses

    $A0m

    12% on prior year
    FY2023 net operating income

    $A0m

    10% on prior year

    FY2023 earnings per share

    $A0.00

    6% on prior year
    The I-80 Canoe Creek bridge is one of six bridges in critical need of rehabilitation that will be delivered in the first package of the Pennsylvania Department of Transportation’s Major Bridges P3 Program.
    FY2023 return on equity

    0.0%

    from 18.7% in prior year
    FY2023 effective tax rate

    0.0%

    from 25.2% as at 31 March 2022
    FY2023 dividends per share (40% franked)

    $A0.00

    21% on prior year
    Assets under management as at 31 March 20231

    $A0.0b

    from $A793.0b as at 31 March 2022
     
    1. MAM Private Markets Assets under Management (AUM) includes equity yet to deploy. This is a change from prior periods, when equity yet to deploy was excluded, and has been implemented to bring MAM in line with peers. Prior periods have been restated to reflect the change.

    FY2023 Net Profit Contribution2 by activity

    ~41%
    Annuity-style activities

    ~59%
    Markets-facing activities

    icon-ar22-annuity-style
    Annuity-style activities

    $A0m

    17% on prior year

    icon-ar22-markets-facing
    Markets-facing activities

    $A0m

    38% on prior year
    1. Net profit contribution is management accounting profit before unallocated corporate costs, profit share and income tax.

    FY2023 Net Profit Contribution by geography3

    Map of unspecified region with 1 data series.
    Map showing world regions
    Chart graphic.
    End of interactive chart

    AMERICAS

    38%

    EMEA

    25%

    ASIA

    8%

    ANZ

    29%

     
    1. International income is net operating income excluding earnings on capital and other corporate items.
    Headshot of Glenn Stevens, Independant Director and Chair, Macquarie Group

    Letter from the Chair

    Despite rapidly rising interest rates and episodes of financial instability in world markets, Macquarie has again delivered a record profit, thanks to the diversity of our businesses and strength of our risk management and controls.”

    Glenn Stevens
    Independent Director and Chair

    Headshot of Shemara Wikramanayake, Managing Director and Chief Executive Officer, Macquarie Group
    Headshot of Shemara Wikramanayake, Managing Director and Chief Executive Officer, Macquarie Group

    Letter from the Managing Director and CEO

    Our teams around the world, guided by Macquarie’s purpose and backed by our proven risk culture and strong capital and funding position, continued to adapt to uncertain times and the ongoing needs of our clients and communities.”

    Shemara Wikramanayake
    Managing Director and Chief Executive Officer

    Female engineer making repairs KCOM’s fibre network, providing essential connectivity to homes in the UK

    Empowering people to innovate and invest for a better future

    At Macquarie, we believe that by empowering people – our colleagues, clients, communities, shareholders and partners – we will achieve our shared potential. By investing in assets, deploying our capital and resources, and applying our deep expertise to develop solutions to global challenges, we are helping to build a better future.

    Operating and Financial Review

    Operating Groups

    Macquarie is a diversified financial group providing clients with asset management and finance, banking, advisory, and risk and capital solutions across debt, equity and commodities.

    Macquarie Asset Management (MAM)

    A leading specialist global asset manager, investing to deliver positive impact for everyone. Provides investment solutions to clients across a range of capabilities in Private Markets and Public Investments, including infrastructure, green investments, agriculture and natural assets, real estate, private credit, asset finance, secondaries, equities, fixed income and multi-asset solutions.

    icon-ar22-mam
    Net profit contribution

    $0m

    23% on prior year

    Banking and Financial Services (BFS)

    A retail banking and financial services business serving the Australian market. Provides a diverse range of personal banking, wealth management, and business banking products and services to retail clients, advisers, brokers and business clients.

    icon-ar22-bfs
    Net profit contribution

    $A0m

    20% on prior year

    Commodities and Global Markets (CGM)

    A global business offering capital and financing, risk management, market access, physical execution and logistics solutions to its diverse client base, across commodities, financial markets and asset finance.

    icon-ar22-cgm
    Net profit contribution

    $A0m

    54% on prior year

    Macquarie Capital

    Global capability in advisory and capital raising services, investing alongside partners and clients across the capital structure. Providing clients with specialist expertise, advice and flexible capital solutions across a range of sectors. It also has global capability in development and investment in infrastructure and energy projects and companies, with a focus on transport, digital and social infrastructure. Macquarie Capital’s Equities brokerage business provides clients with access to equity research, sales, execution capabilities and corporate access.

    icon-ar22-maccap
    Net profit contribution

    $A0m

    47% on prior year

    Central Service Groups

    The Central Service Groups provide a range of functions supporting Macquarie’s Operating Groups, ensuring they have the appropriate workplace support and systems to operate effectively and the necessary resources to meet their regulatory, compliance, financial, legal and risk management requirements.

    Risk Management Group (RMG)

    An independent and centralised function responsible for independent and objective review and challenge, oversight, monitoring and reporting in relation to Macquarie’s material risks. RMG designs and oversees the implementation of the risk management framework. The Head of Internal Audit reports functionally to the Board Audit Committee and operationally to the Head of RMG for day-to-day management.

    Legal and Governance Group (LGG)

    Provides a full range of legal and corporate governance services, including strategic legal and governance advice and risk assessment on corporate transactions, treasury and funding, insurance, regulatory enquiries and litigation.

    Financial Management Group (FMG)

    Responsible for capital, funding, liquidity, tax and strategic analysis and advice to support the growth of the Macquarie business. It ensures Macquarie meets its financial, regulatory and tax reporting compliance obligations, as well as maintaining relationships with a range of significant external stakeholders.

    Corporate Operations Group (COG)

    Provides specialist services in technology, operations, human resources, workplace, data and transformation, strategy, operational risk management, business resilience and global security, and the Macquarie Group Foundation.

    Classroom setup with adults seated at desks looking at laptop computers

    Macquarie Group Foundation

    The Macquarie Group Foundation (Foundation) drives social impact work for Macquarie Group, supporting its people, businesses, and communities to build a better future. Macquarie Sports and the Macquarie Group Collection are an important part of the Foundation’s commitment to the community.

    $A0m+

    contributed since inception

    0+

    non-profit community organisations supported in FY2023

    $A0m

    contributed in FY2023
    A group of business people looking at a computer, discussing a topic

    Corporate Governance

    Macquarie’s key governance practices guide our decision‑making to meet stakeholder expectations of sound corporate governance and prudent decision-making, acknowledging Macquarie’s specific and broader responsibilities to its shareholders, funders, clients, employees and the communities in which it operates.

    Macquarie's DEI team is comprised of subject matter expects who hail from a range of backgrounds and are diverse in terms of gender, age, ethnicity, sexual orientation, and caring responsibilities.

    Diversity, Equity and Inclusion

    As a services business, the diversity of our people is one of Macquarie’s greatest strengths. An inclusive, equitable workplace enables us to deliver more innovative and sustainable solutions for our people, clients, customers, shareholders and communities.

    Paul Plewman, Macquarie EMEA Chief Executive Officer talking at the Green Energy Conference in London

    Environmental, Social and Governance

    Macquarie’s Board and Management recognise the importance of sound Environmental, Social and Governance (ESG) practices as part of their responsibility to our clients, shareholders, employees, and the communities in which Macquarie operates.

    A group of people inspecting a green hydrogen production plant

    Risk Management

    The role of the Board is to promote the long-term interests of Macquarie, taking into account Macquarie’s specific and broader responsibilities to its shareholders, funders, clients, staff and the communities in which it operates. The Board is committed to oversight of Macquarie’s performance, risk management, engagement with regulators and culture and to promoting the creation of enduring value by realising opportunities for the benefit of our clients, community, shareholders and our people. Macquarie’s robust risk management framework supports the Board in its role.


    Additional information