Sydney, 22 February 2021
Macquarie Group Limited (ASX: MQG; ADR: MQBKY) today updates its short-term outlook1 provided to the market at the Group’s Operational Briefing on 9 February 2021. Macquarie now expects the Group’s result for the year ended 31 March 2021 (FY21) to be up approximately 5% to 10% on FY20.
Extreme winter weather conditions in North America have significantly increased short-term client demand for Macquarie’s capabilities in maintaining critical physical supply across the commodity complex and particularly in relation to gas and power.
Macquarie’s Commodities and Global Markets (CGM) business physically ships gas on the majority of major pipelines across the US and over time has built capacity to support clients by delivering power and physical commodities to help them meet the unexpected needs of their customers.
The short-term outlook is subject to a range of uncertainties including:
We continue to maintain a cautious stance, with a conservative approach to capital, funding and liquidity that positions us well to respond to the current environment.