DATA PACK 2023
Full year results
FY23
Index
CONTENTS | SLIDE |
Financial | |
Summary Income statement | 4 |
Revenue margins by asset class | 5 |
Underlying costs and cost to AUA ratio | 6 |
Dividends | 7 |
AUA and volumes | |
Total Assets Under Administration | 9 |
Growth in total AUA | 10 |
Group average AUA by asset class | 11 |
Group closing AUA by asset class | 12 |
AUA by investment over time | 13 |
HL Workplace Solutions | 14 |
HL Funds | 15 |
Net new clients | 16 |
Stockbroking volumes | 17 |
Other information | |
Market share statistics | 19 |
Assets by product and asset class | 20 |
Asset class split by account | 21 |
Further information | 22 |
FY24
Financial
Financial
Summary income statement
ALL FIGURES IN £MILLIONS | FY 2023 | FY 2022 | FY 2021 | |
Revenue | +26% | 735.1 | 583.0 | 631.0 |
Fair value gains on derivatives | - | - | - | 0.6 |
Operating costs | +12% | (350.7) | (313.0) | (266.0) |
Operating profit | +42% | 384.4 | 270.0 | 365.6 |
Finance income | 19.0 | 0.0 | 1.4 | |
Finance costs | -12% | (0.7) | (0.8) | (1.0) |
Profit before Tax | +50% | 402.7 | 269.2 | 366.0 |
Strategic Cost * | +28% | 36.1 | 28.3 | - |
Underlying profit before tax ** | +47% | 438.8 | 297.5 | 366.0 |
Tax | +48% | (79.0) | (53.4) | (69.7) |
Profit after tax | +50% | 323.7 | 215.8 | 296.3 |
Tax on underlying profit | +46% | (86.1) | (59.0) | (69.7) |
Underlying profit after tax** | +48% | 352.7 | 238.5 | 296.3 |
Basic earnings per share (pence) | +50% | 68.3 | 45.6 | 62.6 |
Diluted earnings per share (pence) | +50% | 68.2 | 45.6 | 62.5 |
Underlying basic earnings per share (pence)** | +48% | 74.4 | 50.4 | 62.6 |
Underlying diluted basic earnings per share (pence)** | +47% | 74.3 | 50.4 | 50.4 |
* Includes strategic investment spend and dual tech running costs.
** Underlying measures are before accounting for strategic investment spend and dual tech running costs.
Financial
Revenue margins by asset class
FY 2023 | FY 2022 | ||||||
Revenue | Ave | Margin | Revenue | Ave | Margin | ||
Assets | Assets | ||||||
£m | bps | £m | bps | ||||
£bn | £bn | ||||||
Renewal income (net of loyalty | - | - | |||||
bonus) | |||||||
Platform fee | 236.4 | 254.5 | |||||
Total revenue from funds | 236.4 | 60.7 | 39 | 254.5 | 65.3 | 39 | |
Stockbroking commission | 113.6 | 160.4 | |||||
Management fees | 34.1 | 34.5 | |||||
Total revenue from shares | 147.7 | 48.8 | 30 | 194.9 | 52.3 | 37 | |
Total revenue from cash | 268.7 | 14.0 | 192 | 50.0 | 13.6 | 37 | |
HL Funds1 | 54.3 | 8.4 | 65 | 60.3 | 8.8 | 69 | |
Active Savings | 8.7 | 6.4 | 14 | 1.8 | 3.8 | 5 | |
Double-count2 | - | (8.3) | - | - | (8.7) | - | |
715.8 | 130.0 | 57 | 561.5 | 135.1 | 43 | ||
Other income3 | 19.3 | - | 21.5 | - | |||
Total revenue | 735.1 | 130.0 | 583.0 | 135.1 | |||
FY 2023 | FY 2022 | FY 2021 | ||
Ongoing | +48% | 612.6 | 414.1 | 390.5 |
revenue | ||||
Transactional | -27% | 122.5 | 168.9 | 240.5 |
revenue | ||||
Total revenue | +26% | 735.1 | 583.0 | 631.0 |
1 Annual management charge on HL Funds, i.e. excluding the platform fee, which is included in revenue on funds.
2 HL Funds AUM included in Funds AUA for platform fee and in HL Funds for annual management charge. Total average AUA excludes HL Fund AUM to avoid double-counting. 3 Other income includes advisory fees and ancillary services (e.g. annuity broking, distribution of VCTs and HL Currency Services).
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Disclaimer
Hargreaves Lansdown plc published this content on 19 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 September 2023 06:22:01 UTC.