2022 Half-Year Results

Macquarie (MGL and its subsidiaries, the Consolidated Entity) is a global diversified financial group with offices in 33 markets.


Financial highlights

1H22 net profit

$A2043m

107% on 1H21


1H22 operating expenses

$A5069m

19% on 1H21
1H22 net operating income

$A7804m

41% on 1H21


1H22 earnings per share

$A5.63

103% on 1H21

1H22 return on equity

17.8%

87% in 1H21


1H22 effective tax rate

22.8%

from 21.8% at 1H21
1H22 dividend per share (40% franked)

$A2.72

up from $A1.35 in 1H21


Assets under management as at 30 September 2021

$A737.0b

up 31% from $A563.5b at 31 March 2021

1. Includes MAM and BFS AUM. 31 Mar 20 AUM has been restated to reflect an immaterial misstatement in total MAM AUM reported on 8 May 20.


1H22 Net Profit Contribution1 by activity

1. Net profit contribution is management accounting profit before unallocated corporate costs, profit share and income tax.

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Annuity-style activities

$A2517m

57% on 1H21

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Markets-facing activities

$A1467m

118% on 1H21

 

1H22 Net Profit Contribution by geography2

AMERICAS

39%

EMEA

26%

ASIA

7%

ANZ

28%

2. International income is net operating income excluding earnings on capital and other corporate items.

Operating and Financial Review

Our businesses

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.

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Net profit contribution

$1305m

23% on 1H21

Macquarie Asset Management (MAM)

A leading specialist global asset manager, offering a diverse range of products through two business divisions: Private Markets and Public Investments.

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Net profit contribution

$A482m

52% on 1H21

Banking and Financial Services (BFS)

BFS serves the Australian market, and is organised into the following three business divisions: Personal Banking, Wealth Management and Business Banking.

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Net profit contribution

$A1729m

60% on 1H21

Commodities and Global Markets (CGM)

CGM provides clients with an integrated, end-to-end offering across global markets including equities, fixed income, foreign exchange, commodities and technology, media and telecoms.

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Net profit contribution

$A468m

significantly on 1H21

Macquarie Capital

Macquarie Capital has 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.

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 reporting, legal and risk management requirements.

Corporate Operations Group (COG)

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

Financial Management Group (FMG)

Provides financial, tax, treasury, corporate affairs and advisory services to all areas of Macquarie.

Legal and Governance (LGL)

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.

Risk Management Group (RMG)

An independent and centralised function responsible for 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.