Australia · Delayed Price · Currency is AUD Macquarie Group Earnings Call Transcripts
Fiscal Year 2026
-
Third quarter results met expectations, with strong growth in asset management, capital, and commodities, driven by divestments, private credit, and winter volatility. BFS continued to expand loans and deposits, while surplus capital declined due to dividends and business growth.
-
First half FY2026 net profit rose 3% to AUD 1.655 billion, with strong growth in asset management, banking, and capital segments, but lower CGM profit due to higher expenses. Asset management AUM reached AUD 959.1 billion, and the dividend increased to AUD 2.80 per share.
Fiscal Year 2025
-
The AGM reviewed a 5% profit increase, strong capital position, and ongoing growth in asset management and banking. Shareholders debated climate risk, governance, and executive pay, with director reelections and most board resolutions passing, but notable dissent on remuneration.
-
Earnings rose 5% to AUD 3.715 billion, with strong growth in asset management and BFS, while commodities and capital markets faced headwinds from subdued volatility. Guidance remains cautious, with performance highly sensitive to market and regulatory conditions.
-
A new blend of bottom-up and top-down strategy aims to drive scalable growth, with EMEA as a core focus and expansion into new products and regions. Risk management remains disciplined, with most income from repeat clients and annuity-style business, while digital and structured finance platforms are scaling rapidly.
-
EMEA operations are scaling with $204 billion AUM, expanding into digital infrastructure, green investments, and private credit. Fundraising and client diversification remain strong, with a focus on risk management, sustainability, and long-term value creation. Growth opportunities are robust across infrastructure, energy transition, and new markets.
-
EMEA growth is driven by sector expertise, local presence, and a diversified business model spanning advisory, private credit, infrastructure, and venture capital. The portfolio is maturing, with income expected to step up from fiscal 2026/2027, and risk management remains disciplined as new opportunities in digital and core plus infrastructure expand.
-
Expansion in EMEA continues, with Paris as a key hub and new markets targeted. FY2025 guidance was updated to reflect delayed green asset disposals, but overall income is still expected to rise. Strategic focus remains on annuity-style income, dynamic capital allocation, and leveraging cross-business collaboration for growth.
-
Annuity-style businesses delivered strong growth, while market-facing segments, especially commodities, faced subdued conditions. Capital surplus remains robust, with continued investment in private credit and green assets, and the share buyback extended.
-
Net profit rose 14% year-over-year to AUD 1.612 billion, with strong asset management and BFS growth offset by margin pressure and lower commodities trading. Capital and liquidity remain robust, and the outlook is positive, though subject to market volatility and competition.
Fiscal Year 2024
-
The meeting reviewed a year of lower profits amid subdued markets, with strong capital and ongoing investment in digital and clean energy. Shareholders approved all resolutions, and the Board addressed regulatory, reputational, and customer service challenges while emphasizing risk management and future growth.