Julius Bar Gruppe AG (0QO6.L) Q4 2024 Earnings Report

Julius Baer delivered a robust Q4 2024 performance with revenue of CHF 958.15 million, marking a 58.35% year-over-year increase driven by higher fee-based revenue in wealth management. EBITDA of CHF 512.1 million supported an operating income of CHF 587.4 million, yielding an operating margin of 61.31% and an EBITDA margin of 53.45%. Net income reached CHF 285.05 million, a 832.8% year-over-year rise, translating to EPS of CHF 1.39. The net margin stood at 29.75%. QoQ there was a sizable sequential decline in revenue (CHF down ~50.7%), reflecting seasonality and timing of fee accrual rather than a deterioration in underlying profitability. The tax line shows a tax benefit of CHF 58.1 million, contributing to the stronger net income print. Overall, the quarter underscores Julius Baer’s ability to generate high-margin, fee-based earnings in a structurally advantaged wealth management franchise, while near-term results are susceptible to seasonality and market conditions.