Fri, 18/01/2013 - 09:37
BlackRock has reported full year diluted EPS of USD13.79, up 11 per cent from 2011.
Fourth quarter 2012 diluted EPS of USD3.93 was up 29 per cent from fourth quarter 2011.
Revenue increased 14 per cent from fourth quarter 2011 and nine per cent from third quarter 2012, reflecting growth in markets, strength in base fees and higher performance fees.
The operating income for fourth quarter and full year 2012 was USD1.0bn and USD3.5bn, respectively. The operating margin of 39.6 per cent for the fourth quarter 2012 rose 330 bps from fourth quarter 2011.
“BlackRock’s financial performance in 2012 was strong by any measure,” says Laurence D Fink (pictured), chairman and chief executive of BlackRock. “We closed the year with record earnings for both the quarter and the year. We improved investment performance in key areas and our work with clients was rewarded with USD107.7bn of long-term net new business. Every client type contributed to these strong flows. Our results demonstrate not only the diversity of our platform and the breadth of our global product offering, but how we have differentiated the firm and continued to evolve in anticipation of our clients’ needs.
“In 2012, our people delivered focused execution across our key strategic priorities. Retirement trends continue to drive new opportunities across our retail and defined contribution businesses, where we generated long-term net inflows during the year of USD11.6bn and USD28.4bn, respectively. As clients sought efficient tools and creative solutions to manage their investment exposure, they turned to iShares. As a result, iShares maintained its number one global market share position and net new business returned to pre-crisis levels with more than USD85bn in new assets generated this year. Elsewhere in the business, we saw strong sustained demand from clients for high yielding income strategies and multi-asset class solutions, resulting in strong support for our fixed income and equity dividend capabilities as well as multi-asset class products.
“BlackRock Solutions remains a key differentiator for our firm, both as the foundation for the entire business as well as a key growth contributor on its own. This year we continued to grow our capabilities across geographies and asset classes adding over USD3.5trn of new positions to our Aladdin platform. Growth for Aladdin is coming from an increasingly global set of clients focused on their entire investment portfolios across multi-asset capabilities.”
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