Rothschild & Co rilascia le stime di reddito netto nel 2023: dati molto sconfortanti

Il reddito netto atteso di Rothschild & Co si aggirerà intorno ai 125 milioni di euro (circa 137 milioni di dollari) per i primi sei mesi dell’anno e a circa 280 milioni di euro per l’intero 2023. Nel 2022, gli utili ammontavano a 249 milioni di euro nel primo semestre e a 606 milioni di euro per l’anno intero.

In effetti Rothschild & Co ha ormai approvato il delisting e questo logicamente influenza la normale conduzione degli affari. Tra i dipendenti eccellenti di Rothschild & Co c’è stato anche l’attuale presidente francese Emmanuel Macron

Estimated financial data

On 8 June 2023, Concordia filed a draft simplified tender offer for the shares of Rothschild & Co with the French stock market authority (Autorité des marchés financiers – AMF) at a price of 46.6 euros per share (following the distribution of the ordinary dividend of €1.4 per share in May 2023) with a view to requesting the mandatory buyout of minority shareholders and delisting of the company (the “Offer”).

The price of €46.6 per share will be adjusted to €38.6 following the ex-date of the extraordinary distribution of €8 per share which will occur after approval of the Offer by the AMF and before opening of the Offer.

The estimates presented below were provided to the independent expert appointed in the context of the Offer. They have not been reviewed or audited by Rothschild & Co’s auditors.

Notwithstanding the intrinsic volatility that characterises each of our three businesses, the Group’s best estimates, which reflect the more challenging market environment in Global Advisory and Merchant Banking partially offset by a strong performance in Wealth and Asset Management, are as follows:
• Net Income – Group share for the first half of 2023 should be around €125 million
• Shareholders’ equity – Group share as at 30 June 2023 should be around €3.6 billion
• Operating income4 of the Group’s three businesses for full year 2023 should be around €540 million
• Net Income – Group share for full year 2023 should be around €280 million

The half-yearly results approved by the Managing Partner of Rothschild & Co and examined by the Supervisory Board for verification and control purposes will be published on 3 August 2023.
The Supervisory Board of Rothschild & Co will issue its reasoned opinion on the Offer after receiving the independent expert’s report. The reasoned opinion and the independent expert’s report will be included in the draft response document to be filed by Rothschild & Co between fifteen and twenty trading days from the date of the filing of the draft Offer document, which occurred on 8 June 2023.

Filing by Concordia of the simplified tender offer for Rothschild & Co

Further to the announcements made on 6 and 13 February 2023, Rothschild & Co has been informed that Concordia1 has filed a draft simplified tender offer for the shares of Rothschild & Co today with the French stock market authority (Autorité des marchés financiers – AMF) at a price of €46.6 per share (following the distribution of the ordinary dividend of €1.4 per share in May 2023) with a view to requesting the mandatory buyout of minority shareholders and delisting of the company (the “Offer”).

The price of €46.6 per share will be adjusted to €38.6 following the ex-date of the extraordinary distribution of €8 per share which will occur after approval of the Offer by the AMF and before opening of the Offer.
All the regulatory clearances in connection with the Offer have been obtained. The Offer is subject to the clearance of the AMF.
The Supervisory Board of Rothschild & Co will issue its reasoned opinion on the Offer after receiving the independent expert’s report

The reasoned opinion and the independent expert’s report will be included in the draft response document to be filed by Rothschild & Co between fifteen and twenty trading days from the date of the filing of the draft Offer document.
As previously announced on 10 May 2023, Concordia intends to purchase Rothschild & Co shares at €46.6 (cum exceptional distribution) between the day following the publication of the Rothschild & Co draft response document and the ex-date of the exceptional distribution (before opening of the Offer), within the limit of a number of shares equal to 30% of the number of shares targeted by the Offer (in accordance with the AMF General Regulation).