Aberdeen Group Plc · LSE:ABDN
Aberdeen — H1 2025 Earnings Presentation
27 slides from Aberdeen's earnings presentation, Jul 30, 2025
Slide 1: Half year results 2025
Half year results 2025 30 July 2025
Slide 2: Agenda
Agenda Jason Windsor Delivering against strategic priorities Siobhan Boylan H1 2025 financial highlights Q&A session 2|
Slide 3: Our ambition is to be the UK’s leading Wealth & Investments group
Our ambition is to be the UK’s leading Wealth & Investments group interactive Our Purpose Adviser investor Enabling our clients to be better investors Advised investing Self-directed investing platform and trading platform £76bn AUMA2 £85bn AUMA UK #2 Our Ambition UK #1 (by AUMA)3 (by Net flows)1 To
Slide 4: Good progress in a year of transition
Good progress in a year of transition • Delivering against strategic priorities and targets through relentless focus on execution • Successfully navigated an extraordinary period of macroeconomic and geopolitical volatility • H1 2025 performance in line with expectations • Building a business capabl
Slide 5: Strong profit growth in ii, with Adviser reflecting repricing, and a resilient performance in Investments
Strong profit growth in ii, with Adviser reflecting repricing, and a resilient performance in Investments Adjusted operating profit by business1 • interactive investor adjusted operating profit (AOP) £14m higher at £69m, driven by sustained organic growth in the business Investments £35m • Adviser A
Slide 6: interactive investor – sustaining growth
interactive investor – sustaining growth Sustain efficient growth by H1 2025 highlights building on our differentiated proposition and investing in Sustained growth in customers, Improving brand awareness Proposition enhancements to the ii brand with record flows and trading with targeted marketing
Slide 7: Adviser – ongoing focus on client service excellence and proposition
Adviser – ongoing focus on client service excellence and proposition Return to net inflows by H1 2025 highlights enhancing our proposition and delivering leading Service levels restored with Laying foundations for Making steady progress client service key metrics improving return to growth on path t
Slide 8: Investments – repositioning for profitable long-term growth
Investments – repositioning for profitable long-term growth Step change in profitability by repositioning to areas of H1 2025 highlights strength and opportunity, Resilient performance with Accelerating growth in Modernisation & simplification & driving improved momentum in gross flows Wholesale and
Slide 9: Transformation on track to deliver >£150m savings by end 2025
Transformation on track to deliver >£150m savings by end 2025 Progression of run rate savings delivered >£150m £137m £106m • Adjusted operating expenses reduced by 7% £50m to £503m (H1 2024: £539m) • Transformation programme has delivered H1 24 FY 24 H1 25 FY 25 £137m of run rate savings by end H1 2
Slide 10: Delivering against our strategic priorities and targets
Delivering against our strategic priorities and targets FY 2026 Targets • Focusing on areas of competitive advantage • Growing fast in interactive investor Transform • Turning around flows in Adviser performance • Targeting step change in Investments’ profitability FY 24 FY 26 2yr Δ Adjusted +18% •
Slide 11: Financial highlights
Financial highlights Siobhan Boylan
Slide 12: Delivering a resilient performance in H1 2025
Delivering a resilient performance in H1 2025 Sustained growth in interactive investor, significant improvement in flows Growing our business in Adviser, and encouraging gross flows in Investments Expenses 7% lower, benefiting from transformation savings Improving efficiency (cumulative £137m of ann
Slide 13: H1 2025 financial performance - overview
H1 2025 financial performance - overview H1 2025 H1 2024 Change • Adjusted operating profit 2% lower, driven by Adjusted net operating revenue £628m £667m (6)% previously announced repricing and end of outsourcing discount in Adviser Adjusted operating expenses £(503)m £(539)m 7% • Revenue 6% lower,
Slide 14: interactive investor: 25% increase in profit and record net inflows
interactive investor 25% increase in profit and record net inflows Customers AUMA (£bn) • 9% total customer growth, with 27% increase in +9% +9% customers with a SIPP 461k 84.7 422k (4.0) 3.2 • Net flows up 29% to £4.0bn, with flows of £2.4bn in 8.0 77.5 Q2 reflecting a strong tax year end • Revenue
Slide 15: Adviser: Improving flows, lower profit reflects actions to return to growth
Adviser Improving flows, lower profit reflects actions to return to growth Net Flows AUMA (£bn) +1% £1.1bn 3.3 75.7 • Significant £1.1bn (55%) improvement in net 75.2 (4.2) 1.4 outflows, reflecting restored service levels, £(0.9)bn enhanced platform functionality and competitive repricing £(2.0)bn •
Slide 16: Investments: Resilient performance benefiting from efficiency focus
Investments Resilient performance benefiting from efficiency focus I&RW Net Flows (ex-liquidity) Investments AUM (£bn) 0% +£3.8bn 0.4 (1.2) £1.8bn 369.7 3.5 (4.5) • Gross flows in I&RW (ex-liquidity) up 74% to 367.9 £21.9bn, with net flows £3.8bn higher at £1.8bn – Q2 benefiting from significant qua
Slide 17: Net capital generation benefiting from lower restructuring expenses
Net capital generation benefiting from lower restructuring expenses Capital generation ACG £144m £145m Restructuring and • Net capital generation up 7% corporate transaction £34m expenses £40m • Adjusted capital generation up 1% at (net of tax) +7% £145m (H1 2024: £144m) • Net restructuring and corp
Slide 18: Strong capital base and additional assets
Strong capital base and additional assets Capital CET1 and coverage ratio £1.5bn 139% • Strong CET1 of £1.5bn with coverage ratio of 139% AT1 and Tier 2 debt £0.8bn / • Additional net assets not in capital of £1.5bn (gross / qualifying) £0.5bn1 (FY 2024: £1.3bn) • Investment in Phoenix supporting st
Slide 19: 2025 financial guidance and outlook
2025 financial guidance and outlook interactive • Investment has created increased capacity for sustained growth in customers, flows, revenue and profit investor • Cash margin expected to be 210-220bps in 2025 • 2025 will reflect platform repricing and end of third-party outsourcing discount Adviser
Slide 20: Delivering against strategic priorities
Delivering against strategic priorities Jason Windsor
Slide 21: Key messages
Key messages • Performance in the first half in line with expectations • Transformation programme on track • Good progress against the strategic priorities and plan outlined at FY24 • Building a business capable of long-term, profitable growth as the UK’s leading Wealth & Investments group 21 |
Slide 22: Appendix
Appendix
Slide 23: Analysis of profit
Analysis of profit H1 2025 H1 2024 Adjusted net operating revenue 628 667 Adjusted operating expenses (503) (539) Adjusted operating profit 125 128 Adjusted net financing costs and investment return 56 42 Adjusted profit before tax 181 170 Restructuring and corporate transaction expenses (41) (51) A
Slide 24: Investments Net flows
Investments Net flows Investments net flows I&RW net flows H1 2025 H1 2024 H1 2025 H1 2024 £bn £bn £bn £bn Equities (3.9) (4.0) Gross flows 21.9 12.6 Fixed income 1.3 1.2 Redemptions (20.1) (14.6) Multi-asset (1.3) (0.8) Net flows (ex-liquidity) 1.8 (2.0) Real assets (0.4) (0.6) Liquidity (1.4) 2.4
Slide 25: Investment performance
Investment performance Investment performance 3-year 1-year Equities 19% 19% Fixed income 90% 71% Multi-asset 50% 64% Real assets 25% 38% Alternative investment solutions 100% 100% Quantitative 99% 96% Liquidity 100% 100% Total 71% 70% 25 | Source: Aberdeen. Figures based on Internal performance and
Slide 26: Forward-looking statements
Forward-looking statements This document may contain certain ‘forward-looking statements’ with respect to value of and earnings from the Group’s strategic investments and ongoing the financial condition, performance, results, strategies, targets (including ESG commercial relationships; default by co
Slide 27: Aberdeen Group plc is registered in Scotland
Aberdeen Group plc is registered in Scotland (SC286832) at 1 George Street, Edinburgh, EH2 2LL www.aberdeenplc.com © 2025 Aberdeen Group plc. All rights reserved. 27 |