St. James's Place Plc · LSE:STJ
St. James's Place — FY2025 Earnings Presentation
18 slides from St. James's Place's earnings presentation, Feb 25, 2026
Slide 1: St. James's Place Group Databook Full Year Reporting 2025
St. James’s Place Group Databook Full Year Reporting 2025
Slide 2: Contents
St. James’s Place Group Full Year Results 2025 databook | 2 Contents 1. Additional funds under management (FUM) information page 3 2. Reconciliation of Cash Result expenses to IFRS expenses page 4 3. Movement in DAC, DIR, PVIF page 7 4. Operational readiness prepayment asset page 8 5. European Embed
Slide 3: 1. Additional FUM information
St. James’s Place Group Full Year Results 2025 databook | 3 1. Additional FUM information Discretionary Fund Management (DFM) FUM of £3.70 billion at 31 December 2025 (31 December 2024: £3.49 billion), gross inflows of £0.24 billion for the year (2024: £0.24 billion) and outflows of £0.19 billion
Slide 4: 2. Reconciliation of Cash result expenses to IFRS expenses
St. James’s Place Group Full Year Results 2025 databook | 4 2. Reconciliation of Cash result expenses to IFRS expenses Whilst certain expenses are recognised in separate line items on the face of the Cash result, expenses which vary with business volumes, such as payments to Partners, third-party ad
Slide 5: Total expenses presented separately on the face of the Cash result before tax
St. James’s Place Group Full Year Results 2025 databook | 5 The total expenses presented separately on the face of the Cash result before tax then reconcile to IFRS expenses as set out below. Year ended Year ended 31 December 2025 31 December 2024 £’Million £’Million Total expenses presented separat
Slide 6: Expenses which vary with business volumes
St. James’s Place Group Full Year Results 2025 databook | 6 Expenses which vary with business volumes Other performance costs vary with the level of new business and the operating profit performance of the business. Payments to Partners, investment expenses and third-party administration costs are m
Slide 7: 3. Movement in DAC, DIR and PVIF
St. James’s Place Group Full Year Results 2025 databook | 7 3. Movement in DAC, DIR and PVIF Movements in DAC, DIR and PVIF are explained and analysed as follows: IFRS requires certain upfront expenses incurred and income received to be deferred. The deferred amounts are initially recognised on the
Slide 8: 4. Operational readiness prepayment asset
St. James’s Place Group Full Year Results 2025 databook | 8 4. Operational readiness prepayment asset The operational readiness prepayment asset arose from the investment made into our back-office infrastructure project, as we capitalised Bluedoor development costs. The asset stood at £228.1 million
Slide 9: 5. European Embedded Value (EEV)
St. James’s Place Group Full Year Results 2025 databook | 9 5. European Embedded Value (EEV) Wealth management differs from most other businesses, in that the expected shareholder income from client investment activity emerges over a long period in the future. We therefore supplement the IFRS and Ca
Slide 10: Reconciliation of EEV operating profit before tax and notes to the EEV result
St. James’s Place Group Full Year Results 2025 databook | 10 A reconciliation between EEV operating profit before tax and IFRS profit before tax is provided in Note 3 Segment reporting within the IFRS consolidated financial statements. Notes to the EEV result 1. The new business contribution for the
Slide 11: 6. EEV new business margin
St. James’s Place Group Full Year Results 2025 databook | 11 6. EEV new business margin The largest single element of the Year ended Year ended EEV operating profit (analysed in the 31 December 31 December previous section) is the new business 2025 2024 contribution. The level of new business contri
Slide 12: 7. EEV economic assumptions
St. James’s Place Group Full Year Results 2025 databook | 12 7. EEV economic assumptions The principal economic assumptions used within the cash flows at 31 December are set out below. Year ended Year ended 31 December 2025 31 December 2024 Risk-free rate 4.8% 4.8% Inflation rate 3.0% 3.6% Risk disc
Slide 13: 8. EEV sensitivities
St. James’s Place Group Full Year Results 2025 databook | 13 8. EEV sensitivities The table below shows the estimated impact on the reported value of new business and Change in new EEV to changes in various EEV-calculated assumptions. The sensitivities are specified by Change in EEV business contrib
Slide 14: 9. Analysis of the EEV result
St. James’s Place Group Full Year Results 2025 databook | 14 9. Analysis of the EEV result The table below provides a summarised breakdown of the embedded value position at the reporting dates. 31 December 2025 31 December 2024 £’Million £’Million Value of in-force business 8,845.2 7,401.9 Solvency
Slide 15: Alternative performance measure (APM) definitions
St. James’s Place Group Full Year Results 2025 databook | 15 Alternative performance measure (APM) Definition Why is this measure used? Total embedded value A discounted cash flow valuation Life business and wealth management business differ methodology, assessing the long-term from most other busin
Slide 16: 10. Solvency II balance sheet
St. James’s Place Group Full Year Results 2025 databook | 16 10. Solvency II balance sheet An analysis of the Solvency II position for our Group, split by regulated and non-regulated entities at the year-end, is presented in the table below. 31 December 2025 31 December 2024 Other Life Other Total T
Slide 17: 11. Solvency II sensitivities
St. James’s Place Group Full Year Results 2025 databook | 17 11. Solvency II sensitivities The table below shows the estimated impact on the Solvency II free assets, the SCR and the solvency ratio of changes in various assumptions underlying the Solvency II calculations. In each case, only the indic
Slide 18: www.sjp.co.uk
www.sjp.co.uk The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives. Members of the St. James’s Place Partnership in the UK represent St. James’s Place Wealth Management plc, which is authorised and