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BRIEF-Macquarie Group Says Currently Unable To Provide Meaningful Guidance For FY21

Published 08/05/2020, 08:54 am
Updated 08/05/2020, 09:00 am
© Reuters.
MQG
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May 8 (Reuters) - Macquarie Group Ltd MQG.AX :

* ASSETS UNDER MANAGEMENT OF $A606.9 BILLION AT 31 MAR 2020, UP 10%

* IS CURRENTLY UNABLE TO PROVIDE MEANINGFUL GUIDANCE FOR FY21

* AS AT MAR 31, BANK CET1 RATIO 12.2%

* EXTENT TO WHICH CHALLENGING CONDITIONS WILL IMPACT OVERALL FY21 PROFITABILITY UNCERTAIN, MAKING SHORT-TERM FORECASTING EXTREMELY DIFFICULT

* FY20 CREDIT AND OTHER IMPAIRMENT CHARGES OF A$1,040 MILLION, UP FROM A$552 MILLION IN FY19 DUE TO POTENTIAL ECONOMIC IMPACTS OF COVID-19 PANDEMIC

* IN FY21, MARKET CONDITIONS TO REMAIN CHALLENGING, GIVEN SIGNIFICANT COVID-19 UNCERTAINTY & UNCERTAIN SPEED OF GLOBAL ECONOMIC RECOVERY

* IN FY21, MACQUARIE CAPITAL INVESTMENT-RELATED INCOME EXPECTED TO BE DOWN ON FY20

* FOR MAM, NET OTHER OPERATING INCOME EXPECTED TO BE SIGNIFICANTLY DOWN IN FY21, DUE TO EXPECTED DELAYS IN TIMING OF ASSET SALES

* MACQUARIE CAPITAL FY NET PROFIT CONTRIBUTION OF A$755 MILLION DOWN 57% DUE TO LOWER FEE REVENUE FROM DEBT CAPITAL MARKETS ACTIVITIES

* SUBDUED CUSTOMER ACTIVITY ANTICIPATED FOR CGM IN FY21, PARTICULARLY IN COMMODITIES SECTOR IN 1H21

* IN CGM, PRODUCT & CLIENT SECTOR DIVERSITY SEEN TO PROVIDE SOME SUPPORT THROUGH UNCERTAIN ECONOMIC CONDITIONS IN 1H21

* COMMODITIES AND GLOBAL MARKETS FY NET PROFIT CONTRIBUTION OF A$1,746 MILLION, IN LINE WITH FY19

* "GROUP WELL-POSITIONED TO OPERATE THROUGH ALL MARKET CYCLES AND INVEST IN GROWTH"

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