2021 annual financial report
31 ????? 2021 12
Annual Report 2019.pdf
Management (France) (until 14 May 2019). Chairwoman of the Remuneration and Nomination Committees of. Edmond de Rothschild (Suisse) S.A..
Rapport annuel 2017
31 ????? 2017 Edmond de Rothschild (France). Comptes sociaux et annexes. 162 Bilan et hors bilan de la société mère. 163 Compte de résultat de la société ...
Rapport annuel 2019
11 ???? 2020 Edmond de Rothschild (France) s'établit à. 144 millions d'euros au 31 décembre 2019
ANNUAL REPORT 2020
21 ????? 2021 Edmond de Rothschild Asset Management (France). Member of the Supervisory Board. Member of the Audit and Risk Committee since 2016.
BENJAMIN DE ROTHSCHILD FAMILY ANNOUCES ITS INTENTION
? A project to delist Edmond de Rothschild (Suisse) S.A. shares and to simplify its legal structure Edmond de Rothschild (France) being transferred to Edmond
BENJAMIN DE ROTHSCHILD FAMILY ANNOUNCES ITS
? A project to delist Edmond de Rothschild (Suisse) S.A. shares and to simplify its legal structure Edmond de Rothschild (France) being transferred to Edmond
CONDITIONS GÉNÉRALES DE TARIFICATION
Edmond de Rothschild (France) qui met à votre disposition un banquier privé dédié
Rapport annuel 2021.pdf
24 ???? 2022 Edmond de Rothschild (France). Membre du Conseil de surveillance (Vice-Président dès. 2021) et Président du Comité d'audit et du Comité des.
Edmond de Rothschild (France) - Pillar III 2021
31 ????? 2021 The main impacts for Edmond de Rothschild (France) are as follows: - the regulatory requirements for the leverage ratio and the Net Stable ...
Edmond de Rothschild (France) 2022 Annual Financial Report
Edmond de Rothschild (Monaco) And so Edmond de Rothschild (France) posted net income of €71 1 million at 31 December 2022 an increase of €16 8 million compared to 31 December 2021 This did however include €33 5 million in income from the disposal of Edmond de Rothschild (France) shares in Edmond de Rothschild
Edmond de Rothschild (France)
2021 annual financial report
47, rue du Faubourg Saint-Honoré - 75401 Paris Cedex 08, France
Telephone: +33 (0)1 40 17 25 25
Fax: +33 (0)1 40 17 24 02
Telex: Lacof 280 585 - Swift: COFIFRPP
Website: www.edmond-de-rothschild.fr
A public company with executive and supervisory boards and capital of €83,075,820 Registered with the Paris trade and companies register under number B 572 037 026NAF 2 business code: 6419 Z
Contents
4Shareholders
' letter 5Key figures
6 Edmond de Rothschild Group
8 Edmond de Rothschild (France)
10Management report
11Report of the Executive Board
38 Statement of Non-Financial
Performance
73Report of the Supervisory
Board 86Consolidated financial
statements and notes 87IFSRS consolidated balance
sheet88 IFRS consolidated income
statement88 Statement of comprehensive
income89 IFRS cash flow statement
90 Statement of changes in equity
91 Notes to the
consolidated financial statements144 Investments in
subsidiaries and associates146 Consolidated companies
148Parent company
financial statements and notes149 Parent company balance sheet
and off-balance sheet items150 Parent company income
statement151 Notes to the
parent company financial statements173 Parent company five year
summary 175Statutory auditors'
reports4 | EDMOND DE ROTHSCHILD (FRANCE)
Shareholders
letter2021 was a year in which, more than any other, we
showed our resilience. The passing of my husband Benjamin de Rothschild in January filled my family and our Group with great sorrow. On the global stage, there followed a period in which hope alternated with the need for patience, as vaccination programmes advanced, economies reopened and new coronavirus variants emerged. Overall, our Group performed well during the year, accelerating our development while remaining firmly on course in terms of our strategy. We showed strong commercial momentum in all our business areas and geographies, supported by buoyant markets. These good results, achieved despite the complex operating environment, are the best possible tribute we could pay to Benjamin's memory. Together, we have pursued his wish to build a solid banking group, one that embodies a vision of finance combining performance with social impact. Results show that our ongoing efforts to develop that vision, along with our strategy based on an analysis and understanding of tomorrow's world, have paid off. We were very quick to understand the increasing desire to strike a balance between financial performance and positive social impact. In the space of ten years, our conviction-driven investment house has developed positions in several major themes that are now central to our clients' concerns, including energy transition, soil remediation, infrastructure and human capital.In 2021, taking into account the profound and
irreversible impact that the pandemic has had on our lives, we once again enhanced the products and services we offer to our clients by anticipating the major growth trends of tomorrow. These trends include the use of technology to improve people's health, cybersecurity, digital lifestyles and responsible corporate governance. We also started investing in technology for the agriculture and food production sector, in order to take advantage of the fourth technological revolution that is currently underway. In addition, our convictions led us to form a strategic private equity partnership through which we are investing in innovative food production solutions, technologies related to alternative proteins, new agricultural systems and digital nutrition solutions. In the responsible investment field, more than 80% of our liquid assets under management are now in product categories that meet the highest European sustainability standards. Our real -estate team has also firmly embedded ESG criteria within its investment decision-making process, reducing the carbon footprint and energy consumption of the properties in which it invests.Our good results in 2021 are also down to efforts
made in recent years to attract talent, capitalise on the qualities of our teams and invest heavily in our IT systems. Those results show our collective strength and the commitment of our staff members who, under the effective leadership of François Pauly and the Executive Committee, continued to implement our ambitious roadmap.2022 looks set to be just as unpredictable
as 2021, due to the ongoing Covid -19 crisis, the uneven rebound in growth, the surge in inflation against a background of historically low interest rates and heightened geopolitical tensions. We have begun the year with an increased sense of vigilance, but also confident in the knowledge that our growth model and organisation have enabled us to overcome the historic challenges of the last two years.Against a global backdrop that remains uncertain
and complex, our day-to-day focus is on providing our clients with service and advice of ever-greater quality.Ariane de Rothschild,
Chairwoman o
f the Board of Directors ofEdmond de Rothschild Group
ANNUAL FINANCIAL REPORT 2021 | 5
Key figures
6Edmond de
Rothschild Group
8Edmond de Rothschild (France)
6 | EDMOND DE ROTHSCHILD (FRANCE)
Key figures
Edmond de Rothschild Group at 31 December 2021
Edmond de Rothschild: unique
among banksThe Edmond de Rothschild Group's position in the
world of finance is unique. We are fully in tune with the new global landscape but, at the same time, we cultivate values that have fallen by the wayside at many other banks.The family tradition gives us an acute sense of
what the "long term" means, and this is reflected in the way we manage clients' assets: creativity does not preclude cautiousness; and while our business may break new ground, risk is always well managed.Private Banking and Asset Management are the
powerful engines that lie at the centre of everything we do. We are also active in CorporateFinance, Private Equity, Real Estate and
Institutional & Fund Services.
The Edmond de Rothschild Group
todayWe provide a bespoke service for an international
client base consisting of wealthy families, entrepreneurs and major institutions.Our lines of business
Private Banking
Corporate Finance
Asset Management
Private Equity
Real Estate
Institutional & Fund Services
Our strengths
The stability and solidity of an independent
financial group Unsurpassed attention to individual client needs combined with global expertiseProactive teams that track and analyse the
latest economic developments and adjust our offerings accordinglyAccess to a comprehensive range of financial
products and servicesThe Edmond de Rothschild Group in figures
CHF178 billion in assets under management (172 billion)23% FINMA capital adequacy ratio
2,500 employees at 31 December 2021
Key figures
ANNUAL FINANCIAL REPORT 2020 | 7
Edmond de Rothschild Group at 31 December 2018
GLOBALLY ACTIVE
29 offices in 14 countries
8 | EDMOND DE ROTHSCHILD (FRANCE)
Key figures
Edmond de Rothschild (France) at 31 December 2021
Shareholders at 31 December 2021
Edmond de Rothschild (France) is wholly-owned by
Edmond de Rothschild (Suisse) SA.
Total assets under management
In billions of euros
Offices in France
France
Bordeaux, Lille, Lyon, Marseille, Nantes,
Paris, Strasbourg and Toulouse
Breakdown of assets managed by division and
asset class (asset management subsidiaries)Equities
Convertible bonds
Balanced (including funds of
funds) Alternative management (hedge funds and funds of hedge funds) Private EquityFixed-income products
Structured investment products
Real Estate
51,553,5
50,849,053,8
20172018201920202021
Breakdown of assets
managed by divisionBreakdown of assets
managed by asset class (asset management subsidiaries) 23,8%1,9% 19,9% 0,5%
3,2%23,7%8,0%
19,0%Gestion
d'actifs32,8 Mds
Banque
Privée
20,9 Mds
ANNUAL FINANCIAL REPORT 2021 | 9
Consolidated highlights (in millions of euros)
Balance sheet highlights 2019 2020 2021
Total assets 3,955 3,910 4,668
Equity attributable to equity holders of the parent* 381 395 397Loans granted 877 1,160 1,422
Client deposits 1,604 1,830 2,488
The robustness of the Group's financial position is reflected in its capital ratios**. Its capital adequacy ratio stood
at 18.80% with its Tier One and Core Tier One ratios at 18.66% and 18.64%, respectively, at the end of 2021. The
minimum regulatory requirement is 10.73%. Under temporary arrangements to accommodate the pandemic crisis,
the regulatory requirement has been cut from 10.73% to 8%.The Liquidity Coverage Ratio (LCR), which is the EU standard, stood at 168.8%, comfortably above the minimum
regulatory requirement of 100%.Income statement highlights 2019 2020 2021
Net banking income 304 285 357
Gross operating income 39 30 67
Net income 16 27 54
of which attributable to equity holders of the parent 14 24 57Average headcount (number) 783 775 791
* Excluding net income for the year.** These ratios are calculated in accordance with prudential regulations on the basis of the consolidated equity of Edmond de
Rothschild
(France).10 | EDMOND DE ROTHSCHILD (FRANCE)
Management report
11Report of the Executive Board
36Internal control procedure applicable to accounting and financial information 38
Non-financial performance
statementANNUAL FINANCIAL REPORT 2021 | 11
Report of the Executive
BoardThe global pandemic that struck during 2020 and
continued into 2021 had an unparalleled impact on our way of life and on the financial and business worlds.Even though the
pandemic caused further disruption, the markets moved higher in 2021. Against this backdrop, Edmond de Rothschild (France) again displayed tremendous resilience. Our flexible operational approach, with a large-scale switch to homeworking, and our robust bu siness model predicated on a high level of recurring revenue streams helped overcome the headwinds. Overall, Edmond de Rothschild (France) posted net income of €56.6 million in the year ended 31 December 2021, up €32.3 million or 132.8% on the level reported for the year to 31December 2020.
The sales and financial performance of all our divisions improved on the previous year. Private Banking maintained its first-class sales activity, generating €2.1 billion in net new money in France and €0.1 billion in Italy. Private Equity raised a total of €376 million innew money. Asset Management recorded a small net outflow. The real estate management outflow came to over €141 million, while the outflow from "liquid" asset
management products was just under €28 million. Lastly, Corporate Finance successfully completed a string of impressive deals and boasts a well -stocked pipeline.Upbeat market trends paved the way for a strong
increase in assets under management relative to year- end 2020. Outstandings moved up €2.8 billion relative to year-end 2020, with Asset Management accounting for a €2.2 billion rise.In thousands of euros 2021 2020 Change
Net banking income 357,209 284,653 25.5%
Operating expenses 14.0%
- Personnel expenses - Other operating expenses - Depreciation and amortisationGross operating income 66,783 29,824 123.9%
Cost of risk
Operating income 66,546 29,765 123.6%
Share in net income/(loss) of associates
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