Schroders plc (SDR) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. It's great to see so many familiar faces at our Annual Results 2025. Thanks for investing your time with us this morning. Not really a normal Annual Results presentation, but importantly, I hope you have all read the results that we put out, because I am really proud of the amazing results that we delivered for the first year of a three-year transformation program. We've shown we can do what we told you we would do and deliver against the plan. And we've got conviction in what we're doing. You know, it's been pleasing to see the momentum that we can see in our building being reflected in our share price. So thank you, everyone, for buying the shares and driving them up 12% so far this year. But I think that's a real reinforcement that actually the business is coming from a position of strength. But of course, you've also seen the quite seismic news of the announcement this morning in relation to the all cash offer by Naveen. But let's start off by talking about what that really means for our shareholders. So the Schroders board unanimously is recommending the offer to shareholders. And after a series of approaches by Naveen, we've reached a point where the terms being offered up to £6.12p in cash and dividends represents attractive and importantly certain value for shareholders. This reflects the combined acceleration in the value that we would otherwise have delivered from the trend trailer. Transformation plan, that was what I was thinking about. Transformation plan is a standalone company as we execute on that strategy. But importantly, it also reflects that the benefits that we expect to get from this combination with Naveen over the longer term. The terms, of course, are comprised of 590p in cash considerations and up to 22p in permitted ...