Abrdn Financial Performance Report

Despite Market Conditions, Abrdn Posts Strong Results

Abrdn surprised the market with its exceptional performance in its main metrics, even amidst challenging market conditions leading to outflows in 2023. The company remains optimistic about the future, citing a narrowed pretax loss for the year ended December 31.

Financial Highlights

• Pretax Loss Improvement: Abrdn reported a pretax loss of 6 million pounds for the year, a significant improvement from the previous year's loss of GBP612 million. This positive result was achieved despite losses from changes in fair value from listed investments.

• Operating Profit Adjustment: Adjusted operating profit decreased slightly to GBP249 million from GBP263 million in the previous year. However, this figure exceeded consensus expectations of GBP242 million, showcasing effective management cost-cutting measures.

• Net Operating Revenue: Despite a decrease in net operating revenue to GBP1.40 billion from GBP1.46 billion, Abrdn managed to stay slightly ahead of estimates at GBP1.39 billion. Adverse market movements and outflows contributed to this decline.

• Capital Generation: The company reported an adjusted capital generation of GBP299 million, surpassing expectations of EUR274 million. This reflects Abrdn's resilient financial strength and strategic planning.

Future Outlook

Despite ongoing challenges in the market, primarily attributed to changing client demand and preferences, Abrdn remains confident in its ability to navigate these headwinds successfully. The management team is committed to addressing structural and cyclical obstacles to sustain growth.

Dividend Announcement

The board has decided to maintain the full-year dividend at 14.6 pence per share, underscoring Abrdn's commitment to delivering value to its shareholders.

For more information on Abrdn's financial results, please contact us.