• Revenues were up by 7%, whereas expenses increased by 14% for Q2 22 compared to Q2 21
• Net profit attributable to shares declined by 10% to €155m, which was 16% below the consensus expectations
• High net new money outflow of €25bn in Q2 22 (consensus -€5.6bn) compared to an inflow of €19.7bn in Q2 21
• However, high outflow of low margin cash and passive assets pushed overall management margin in Q2 22
27 Jul 2022
Mixed Q2 figures, high low margin cash outflow
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Mixed Q2 figures, high low margin cash outflow
• Revenues were up by 7%, whereas expenses increased by 14% for Q2 22 compared to Q2 21
• Net profit attributable to shares declined by 10% to €155m, which was 16% below the consensus expectations
• High net new money outflow of €25bn in Q2 22 (consensus -€5.6bn) compared to an inflow of €19.7bn in Q2 21
• However, high outflow of low margin cash and passive assets pushed overall management margin in Q2 22