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Schroders (SDR) investor relations material
Schroders H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Adjusted net operating income rose 17% year-over-year to £1,419.2m, driven by record AUM and strong sales momentum.
Adjusted operating profit increased 46% to £459.8m, reflecting improved operating leverage and cost discipline.
Statutory profit before tax doubled to £396.8m, aided by lower transformation costs and strong underlying performance.
Interim dividend increased to 7.0p per share (up 8%).
Shareholders approved the proposed combination with Nuveen, expected to complete in Q4 2026.
Financial highlights
AUM including JVs and associates reached a record £867.8bn, up 12% from H1 2025.
Statutory net operating income grew 20% to £1,455.2m; adjusted net operating income up 17%.
Adjusted operating expenses rose 7% to £959.4m, mainly due to higher variable compensation.
Adjusted cost to income ratio improved to 68% from 74% in H1 2025.
Basic EPS more than doubled to 19.1p; adjusted basic operating EPS up 51% to 22.3p.
Outlook and guidance
Management expects normalization of institutional fundraising post-Nuveen combination.
Focus remains on executing strategic priorities and delivering sustainable growth despite market unpredictability.
- Flat pre-tax profit, slower inflows and falling AUM; EPS and dividends advanced.SDR
H2 2011 - AUM fell to £814.4bn in Q1 2026 as market volatility drove net outflows and risk-off sentiment.SDR
Q1 2026 TU - Nuveen's premium offer, record AUM, and 25% profit growth mark a transformative year.SDR
H2 2025 - FY25 adjusted operating profit and AUM rose sharply, exceeding market expectations.SDR
Q4 2025 TU - Aiming for £100bn AUM by 2027 through private markets growth, innovation, and cost efficiency.SDR
CMD 2025 - Adjusted operating profit up 7% and record inflows, despite restructuring and FX headwinds.SDR
H1 2025 - Record AUM and robust Wealth Management growth offset margin pressure and lower profit.SDR
H1 2024 - Record AUM of £777.4bn and strong flows face £10bn Q4 outflows and cost discipline focus.SDR
Q3 2024 TU - Profit before tax up 14% with AUM at £778.7bn and £150m cost savings targeted.SDR
H2 2024
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