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Edited Transcript of QLT.L earnings conference call or presentation 11-Mar-20 8:30am GMT
Fri 03 Apr 20, 04:51 AMQuilter plc (LON:QLT) Investors Should Think About This Before Buying It For Its Dividend
Tue 31 Mar 20, 08:16 AM| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 324.00M | 35.00M | 88.00M | 65.00M | 85.00M |
| Minority interest | - | - | - | - | - |
| Net income | 120.00M | -34.00000M | 42.00M | 175.00M | 23.00M |
| Selling general administrative | 1.00M | 327.00M | 227.00M | 221.00M | 61.00M |
| Selling and marketing expenses | - | - | 319.00M | - | - |
| Gross profit | 9261.00M | 5371.00M | 1264.00M | -4122.00000M | 4607.00M |
| Reconciled depreciation | 27.00M | 52.00M | 53.00M | 66.00M | 63.00M |
| Ebit | 345.00M | 56.00M | 111.00M | 78.00M | 97.00M |
| Ebitda | 371.00M | 108.00M | 163.00M | 144.00M | 160.00M |
| Depreciation and amortization | 26.00M | 52.00M | 52.00M | 66.00M | 63.00M |
| Non operating income net other | - | - | - | - | - |
| Operating income | 344.00M | 29.00M | 716.00M | 78.00M | 97.00M |
| Other operating expenses | 9020.00M | 5391.00M | 3910.00M | 4118.00M | 4589.00M |
| Interest expense | 21.00M | 21.00M | 22.00M | 13.00M | 14.00M |
| Tax provision | 204.00M | 69.00M | 46.00M | -110.00000M | 62.00M |
| Interest income | - | - | 219.00M | - | - |
| Net interest income | -21.00000M | -21.00000M | 197.00M | -13.00000M | -14.00000M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | 204.00M | 69.00M | 46.00M | -110.00000M | 62.00M |
| Total revenue | 9364.00M | 5420.00M | 4626.00M | -4068.00000M | 4668.00M |
| Total operating expenses | 8917.00M | 5342.00M | 548.00M | -4172.00000M | 4528.00M |
| Cost of revenue | 103.00M | 49.00M | 3362.00M | 54.00M | 61.00M |
| Total other income expense net | -20.00000M | 6.00M | -628.00000M | -13.00000M | -12.00000M |
| Discontinued operations | - | - | - | - | 131.00M |
| Net income from continuing ops | 120.00M | -34.00000M | 42.00M | 175.00M | 23.00M |
| Net income applicable to common shares | - | - | - | 175.00M | 154.00M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 76542.00M | 62448.00M | 53345.00M | 46417.00M | 50740.00M |
| Intangible assets | 20.00M | 32.00M | 66.00M | 107.00M | 151.00M |
| Earning assets | - | - | - | - | - |
| Other current assets | - | 410.00M | 335.00M | - | 677.00M |
| Total liab | 75076.00M | 61025.00M | 51826.00M | 44869.00M | 49001.00M |
| Total stockholder equity | 1466.00M | 1423.00M | 1519.00M | 1548.00M | 1739.00M |
| Deferred long term liab | - | - | - | 10.00M | 9.00M |
| Other current liab | 2.00M | - | 521.00M | -8.00000M | 5.00M |
| Common stock | 115.00M | 115.00M | 115.00M | 115.00M | 116.00M |
| Capital stock | 115.00M | 115.00M | 115.00M | 115.00M | 116.00M |
| Retained earnings | 907.00M | 863.00M | 958.00M | 989.00M | 1482.00M |
| Other liab | - | - | - | 5913.00M | 7089.00M |
| Good will | 308.00M | 307.00M | 306.00M | 306.00M | 306.00M |
| Other assets | - | - | 53345.00M | - | 126.00M |
| Cash | 2152.00M | 1584.00M | 1535.00M | 1518.00M | 1775.00M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 651.00M | 512.00M | 575.00M | 437.00M | 486.00M |
| Current deferred revenue | - | - | -43522.00000M | - | -13.00000M |
| Net debt | -1881.00000M | -1309.00000M | -1256.00000M | -1219.00000M | -1476.00000M |
| Short term debt | - | 6.00M | 6.00M | 9.00M | 10.00M |
| Short long term debt | - | - | - | - | - |
| Short long term debt total | 271.00M | 275.00M | 279.00M | 299.00M | 299.00M |
| Other stockholder equity | 58.00M | 58.00M | 58.00M | 444.00M | 141.00M |
| Property plant equipment | - | - | - | 112.00M | 131.00M |
| Total current assets | 2550.00M | 61774.00M | 52678.00M | 45747.00M | 50039.00M |
| Long term investments | - | - | - | - | - |
| Net tangible assets | - | - | - | 1135.00M | 1282.00M |
| Short term investments | 73362.00M | 59360.00M | 50329.00M | 43617.00M | 47565.00M |
| Net receivables | 398.00M | 420.00M | 479.00M | 302.00M | 379.00M |
| Long term debt | 199.00M | 198.00M | 198.00M | 200.00M | 199.00M |
| Inventory | - | - | -58.00000M | - | - |
| Accounts payable | 649.00M | 505.00M | 46.00M | 436.00M | 484.00M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | 386.00M | 387.00M | 388.00M | - | - |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 31.00M | 59473.00M | 111.00M | 43667.00M | 47588.00M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 73992.00M | 674.00M | 667.00M | 670.00M | 701.00M |
| Capital lease obligations | 72.00M | 77.00M | 81.00M | 90.00M | 100.00M |
| Long term debt total | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -5860.00000M | -4388.00000M | -1909.00000M | -1502.00000M | -2839.00000M |
| Change to liabilities | - | - | - | 0.00000M | 0.00000M |
| Total cashflows from investing activities | -5858.00000M | -4406.00000M | -1909.00000M | -1502.00000M | -2641.00000M |
| Net borrowings | - | 0.00000M | -1.00000M | -11.00000M | -10.00000M |
| Total cash from financing activities | -106.00000M | -108.00000M | -123.00000M | -461.00000M | -307.00000M |
| Change to operating activities | - | - | - | 11.00M | 36.00M |
| Net income | 120.00M | 35.00M | 42.00M | 65.00M | 216.00M |
| Change in cash | 203.00M | 90.00M | 77.00M | -282.00000M | 143.00M |
| Begin period cash flow | 1949.00M | 1859.00M | 1782.00M | 2064.00M | 1921.00M |
| End period cash flow | 2152.00M | 1949.00M | 1859.00M | 1782.00M | 2064.00M |
| Total cash from operating activities | 6167.00M | 4585.00M | 2111.00M | 1676.00M | 3093.00M |
| Issuance of capital stock | -13.00000M | -6.00000M | -15.00000M | - | - |
| Depreciation | 26.00M | 52.00M | 52.00M | 66.00M | 63.00M |
| Other cashflows from investing activities | 12.00M | -32.00000M | 1.00M | - | 218.00M |
| Dividends paid | 84.00M | 73.00M | 65.00M | 78.00M | 89.00M |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | - | -18.00000M | -4.00000M | - | - |
| Sale purchase of stock | -13.00000M | -6.00000M | -29.00000M | -356.00000M | -197.00000M |
| Other cashflows from financing activities | -9.00000M | -21.00000M | -28.00000M | -27.00000M | -21.00000M |
| Change to netincome | - | - | - | - | 2822.00M |
| Capital expenditures | 4.00M | 8.00M | 1.00M | 3.00M | 13.00M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | 82.00M | 63.00M | -55.00000M | 11.00M | 36.00M |
| Stock based compensation | - | - | 18.00M | - | - |
| Other non cash items | 5939.00M | 4435.00M | 2054.00M | 1534.00M | 2778.00M |
| Free cash flow | 6163.00M | 4577.00M | 2110.00M | 1673.00M | 3080.00M |
Sector: Financial Services Industry: Asset Management
| Company | Change (GBX) | Price (GBX) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| QLT Quilter PLC |
-1.5 0.78% | 190.60 | 20.36 | 15.15 | 0.27 | 1.73 | 0.09 | 3.74 |
| FP Fondul Proprietatea S.A. GDR |
- -% | 4.20 | - | - | 19.30 | 38.04 | ||
| MNTN Schiehallion Fund Ltd |
-0.06 2.69% | 2.17 | 0.05 | - | 4.35 | 1.25 | 5.65 | |
| BHMU BH Macro Limited |
0.02 0.45% | 4.44 | 0.09 | - | 39.01 | 0.71 | 6.47 | |
| TFG Tetragon Financial Group Ltd |
-0.05 0.40% | 12.40 | 0.02 | 7.04 | 1.16 | 0.31 | 2.06 | 6.56 |
Quilter plc provides advice-led investment solutions in the United Kingdom and internationally. It operates through High Net Worth and Affluent segments. The High Net Worth segment provides discretionary investment management services to high-net worth clients, charities, companies, and institutions through a network of branches; and financial advice services for protection, mortgages, savings, investment, and pensions primarily to high-net-worth clients. Its Affluent segment comprises Quilter Investment Platform, an investment platform for advice-based wealth management products and services; Quilter Investor, which offers investment solutions in the form of funds for the group and third-party clients; and Quilter Financial planning, a restricted and independent financial adviser network that provides mortgage and financial planning advice, and solution for individuals and business through a network of intermediaries. The company was incorporated in 2007 and is based in London, the United Kingdom.
Senator House, London, United Kingdom, EC4V 4AB
| Name | Title | Year Born |
|---|---|---|
| Mr. Mark Oscar Satchel | CFO & Director | 1969 |
| Mr. Steven Levin | CEO & Director | 1975 |
| Ms. Karin Alexandra Cook | Chief Operating Officer | 1966 |
| Mr. John-Paul Crutchley | Head of Investor Relations | NA |
| Mr. Kevin Stephen Lee-Crossett CPA, J.D. | Chief Legal Officer | NA |
| Kathleen Gallagher | Corp. Communications Mang. | NA |
| Ms. Penny Cole | HR Director | NA |
| Mr. Peter Kenny | CEO of Quilter International | NA |
| Mr. Nick Sacre-Hardy | Acting Chief Risk Officer | NA |
| Tosin James-Odukoya | Head of Inclusion & Wellbeing | NA |
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