Schroders
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Schroders (SDR) investor relations material

Schroders H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary12 Feb, 2026

Executive summary

  • Delivered strong results in the first year of a transformation program, with operating profit up 25% and EPS up 29% year-over-year.

  • Announced a recommended all-cash acquisition offer by Nuveen, valuing shares at up to GBP 6.12 (612p), a 34% premium to the prior close and 61% to the 12-month VWAP.

  • The combination with Nuveen will create a global asset and wealth management powerhouse with over $1.8 trillion (£1.8tn) in AUM, diversified across public and private markets.

  • Transformation efforts have simplified the business, exited non-core markets, and strengthened core capabilities.

  • The transaction is supported by principal shareholders representing 41% of issued capital, with completion expected in Q4 2025/2026 pending regulatory approvals.

Financial highlights

  • Assets under management (AUM) reached a record GBP 824 billion (£823.7bn), up 6% year-over-year.

  • Adjusted operating profit rose 25% year-over-year to £756.6m, with net operating revenue up 6% to £2,504.3m.

  • Net inflows totaled GBP 11.2 billion, with growth inflows up 9% to GBP 142 billion.

  • Net new business (NNB) totaled £4.1bn, the highest since 2021, with strong intermediary flows and improved demand across UK, EMEA, and Asia Pacific.

  • Cost-to-income ratio improved to 71%, supported by £75m in net cost savings.

Outlook and guidance

  • Expect continued reduction in cost-to-income ratio, aiming for below 70% by 2027.

  • Transformation program targets GBP 150 million in net annualized savings by 2027.

  • Focus for 2026 includes activating sales teams, expanding ETF offerings, investing in technology and people, and a further £25m net operating expense reduction.

  • Continued platform simplification with data and AI investment.

Nuveen deal: specific strategic acceleration
Transformation plan's future post-deal
Schroders Capital dry powder deployment strategy
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H1 202630 Jul, 2026
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Frequently asked questions

Schroders plc is a global asset management company providing investment solutions to institutional and retail clients, as well as high-net-worth individuals. The company offers a wide range of products, including equity, fixed income, multi-asset, private markets, and alternative investments. Schroders also provides wealth management services, catering to clients seeking personalized financial planning and portfolio management. The company is headquartered in London, United Kingdom, and its shares are listed on the LSE (London Stock Exchange).

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