St. James's Place Plc · LSE:STJ
St. James's Place — H1 2025 Earnings Presentation
17 slides from St. James's Place's earnings presentation, Jul 31, 2025
Slide 1: St. James's Place Group Databook Half Year Reporting 2025
St. James’s Place Group Databook Half Year Reporting 2025
Slide 2: Contents
St. James’s Place Group Half Year Results 2025 databook | 2 Contents 1. FUM info page 3 2. Cash result to IFRS expenses reconciliation page 4 3. Movement in DAC, DIR, PVIF page 6 4. Operational readiness prepayment page 8 5. European Embedded Value (EEV) P&L page 9 6. EEV new business margin page 11
Slide 3: 1. Additional FUM information
St. James’s Place Group Half Year Results 2025 databook | 3 1. Additional FUM information Discretionary fund management (DFM) FUM was £3.53 billion at 30 June 2025 (30 June 2024: £3.53 billion, 31 December 2024: £3.49 billion), gross inflows were £0.12 billion for the period (six months to 30 June
Slide 4: 2. Reconciliation of Cash result expenses to IFRS expenses
St. James’s Place Group Half 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 and third-party
Slide 5: Reconciliation of Cash result expenses to IFRS expenses (table)
St. James’s Place Group Half 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. Six months ended Six months ended Year ended 30 June 2025 30 June 2024 31 December 2024 £’Million £’Million
Slide 6: Expenses which vary with business volumes
St. James’s Place Group Half 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 Half 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 Half 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 £242.4 million
Slide 9: 5. European Embedded Value (EEV)
St. James’s Place Group Half 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: EEV operating profit reconciliation and notes
St. James’s Place Group Half 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 condensed consolidated financial statements. Notes to the EEV result 7. The exceptional item: charg
Slide 11: 6. EEV new business margin
St. James’s Place Group Half Year Results 2025 databook | 11 6. EEV new business margin The largest single element of the Six months Six months Year ended EEV operating profit (analysed in the ended 30 ended 30 31 December previous section) is the new business June 2025 June 2024 2024 contribution.
Slide 12: 7. EEV economic assumptions
St. James’s Place Group Half Year Results 2025 databook | 12 7. EEV economic assumptions The principal economic assumptions used within the cash flows are set out below. Six months ended Six months ended Year ended 30 June 2025 30 June 2024 31 December 2024 Risk-free rate 4.7% 4.3% 4.8% Inflation ra
Slide 13: 8. EEV sensitivities
St. James’s Place Group Half Year Results 2025 databook | 13 8. EEV sensitivities This table shows the estimated impact on the reported value of new business and EEV to changes in various EEV-calculated assumptions. The sensitivities are specified by the EEV Change in new Change in EEV principles an
Slide 14: 9. Analysis of the EEV result
St. James’s Place Group Half 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. 30 June 2025 30 June 2024 31 December 2024 £’Million £’Million £’Million Value of in-force business 7,776.
Slide 15: Alternative performance measure (APM) definitions
St. James’s Place Group Half 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 methodology, assessing the differ from most other businesses, in
Slide 16: 10. Solvency II balance sheet
St. James’s Place Group Half 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 period-end, is presented in the table below. 30 June 2025 30 June 2024 31 December 2024 Other Life Ot
Slide 17: 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
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