HALF-YEAR
REPORT 2023
Julius Baer Group
Julius Baer Half-Year Report 2023
Contents
4
Consolidated income statement
5
Consolidated statement of comprehensive income
6
Consolidated balance sheet
8
Consolidated statement of changes in equity
10
Consolidated statement of cash flows
13
Notes to the consolidated financial statements
31
Capital ratios
32
Abbreviations used in the Group's financial statements
This Half-Year Report appears only in English.
3
Julius Baer Half-Year Report 2023
Consolidated income statement
Note | H1 2023 | H1 2022 | H2 2022 | ||
CHF m | CHF m | CHF m | |||
Interest income on financial instruments | 1,217.4 | 442.2 | 806.1 | ||
measured at amortised cost or FVOCI | |||||
Interest expense on financial instruments | 753.0 | 100.5 | 324.9 | ||
measured at amortised cost | |||||
Net interest income | 1 | 464.4 | 341.7 | 481.2 | |
Commission and fee income | 1,071.4 | 1,162.8 | 1,022.9 | ||
Commission expense | 108.6 | 117.9 | 105.7 | ||
Net commission and fee income | 2 | 962.7 | 1,044.9 | 917.1 | |
Net income from financial instruments | 596.5 | 474.2 | 577.0 | ||
measured at FVTPL | |||||
Net credit losses/(recoveries) on financial assets | -1.8 | 7.4 | 8.6 | ||
Other ordinary results | 3.8 | 11.5 | 21.6 | ||
Operating income | 2,029.1 | 1,865.0 | 1,988.3 | ||
Personnel expenses | 3 | 881.7 | 842.0 | 843.5 | |
General expenses | 4 | 398.0 | 390.6 | 384.4 | |
Depreciation of property and equipment | 49.7 | 45.2 | 48.5 | ||
Amortisation and impairment of customer relationships | 8.0 | 24.1 | 37.8 | ||
Amortisation and impairment of intangible assets | 58.4 | 49.7 | 104.3 | ||
Operating expenses | 1,395.8 | 1,351.7 | 1,418.6 | ||
Profit before taxes | 633.4 | 513.3 | 569.7 | ||
Income taxes | 102.0 | 63.0 | 71.0 | ||
Net profit | 531.4 | 450.3 | 498.8 | ||
Attributable to: | 531.8 | ||||
Shareholders of Julius Baer Group Ltd. | 450.6 | 499.0 | |||
Non-controlling interests | -0.4 | -0.3 | -0.2 | ||
531.4 | 450.3 | 498.8 | |||
H1 2023 | H1 2022 | H2 2022 | |||
Share information | CHF | CHF | CHF | ||
Basic earnings per share (EPS) | 2.58 | 2.15 | 2.41 | ||
Diluted earnings per share (EPS) | 2.58 | 2.15 | 2.41 | ||
Weighted average number of shares outstanding | 205,880,235 | 209,853,862 | 206,795,392 |
4
Julius Baer Half-Year Report 2023
Consolidated statement of comprehensive income
H1 2023 | H1 2022 | H2 2022 | |
CHF m | CHF m | CHF m | |
Net profit recognised in the income statement | 531.4 | 450.3 | 498.8 |
Other comprehensive income (net of taxes): | |||
Items that may be reclassified to the income statement | |||
Net unrealised gains/(losses) on debt instruments | 54.0 | -437.3 | -153.5 |
measured at FVOCI | |||
Net realised (gains)/losses on debt instruments | -0.1 | -1.2 | -0.0 |
measured at FVOCI reclassified to the income statement | |||
Effective portion of changes in fair value of | 5.6 | -36.0 | -9.8 |
hedging instruments designated as cash flow hedges | |||
Cost of hedging related to cash flow hedges | -1.3 | -2.2 | 3.8 |
Translation differences | -25.7 | -1.0 | -62.3 |
Realised (gains)/losses on translation differences | -1.0 | 0.2 | - |
reclassified to the income statement | |||
Items that will not be reclassified to the income statement | |||
Net unrealised gains/(losses) on equity instruments | 53.7 | 9.4 | -11.1 |
measured at FVOCI | |||
Net realised (gains)/losses on equity instruments | -108.8 | - | - |
measured at FVOCI reclassified to retained earnings | |||
Gains/(losses) from own credit risk on | -3.4 | 4.5 | -3.7 |
financial liabilities designated at fair value | |||
Remeasurement of defined benefit obligation | -17.2 | -1.9 | -2.6 |
Other comprehensive income | -44.1 | -465.5 | -239.2 |
Total comprehensive income | 487.3 | -15.2 | 259.6 |
Attributable to: | 487.7 | ||
Shareholders of Julius Baer Group Ltd. | -14.9 | 259.8 | |
Non-controlling interests | -0.4 | -0.3 | -0.2 |
487.3 | -15.2 | 259.6 |
5
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Disclaimer
Julius Bär Gruppe AG published this content on 24 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 July 2023 05:03:10 UTC.