Sandon Capital Investments Limited · ASX:SNC
Sandon Capital Investments — Investor Presentation (April 2025)
21 slides from Sandon Capital Investments's investor presentation, April 2025
Slide 1: SNC Shareholder Presentation
SNC Shareholder Presentation April 2025
Slide 2: Important Information
Important Information This presentation is prepared by Sandon Capital market conditions and future business decisions, all of Lonsec Research Ratings and Logos: The rating issued Investments Limited (SNC) for general information which are difficult or impossible to predict accurately 10/2024 is publ
Slide 3: Opportunity – sustainable yield at a discount to NTA
Sandon Capital Investments Ltd (ASX:SNC) Opportunity – sustainable yield at a discount to NTA Highlights Portfolio companies ATTRACTIVE DIVIDEND YIELD • SNC shares trade at an attractive yield • The bulk of the portfolio remains of 7.3% (9.7% grossed up for exposed to resilient, performing 7.3%1 fra
Slide 4: Investment Highlights
Sandon Capital Investments Limited Investment Highlights • Quarterly dividends provide more regular cashflow • Attractive yield, at a discount LIC Cohort: Yield and P/NTA • Paid (and announced) 63cps of dividends and 24cps of 10.0% Premium imputation credits since inception 0.0% 90.0 80.0 -10.0% 24.
Slide 5: Investment highlights 12-mths to 31 Mar 2025
Sandon Capital Investments Limited Investment highlights 12-mths to 31 Mar 2025 • Win/loss ratio ~63% highlights investment selection and portfolio discipline Gains vs Losses Top 5 Bottom 5 (12 months to 31 Mar 2025) Name Contribution Name Contribution 6.0% Fleetwood Ltd 8.2% Coventry Group Ltd -3.0
Slide 6: Portfolio Composition
Sandon Capital Investments Limited Portfolio Composition • Selected holdings represent ~50% of the portfolio Selected holdings • These companies provide exposure to: Fleetwood Ltd (FWD) 13.8% • SME financial services (COG) Spectra Systems Inc. (SPSY) 10.5% • Industry rationalisation (COG, CYG) COG F
Slide 7: Realisations/Exits
Sandon Capital Investments Ltd Realisations/Exits • Our investment process focuses on undervalued opportunities • While we like investing in companies that have potential for bright futures, we also know that markets tend to significantly misprice companies whose futures are less certain • Sandon Ca
Slide 8: Spectra Systems, Inc. (SPSY LN)
Sandon Capital Investments Ltd Spectra Systems, Inc. (SPSY LN) • SPSY is a US based technology company listed on the London Stock Exchange Financial Summary • Its core business is the authentication and cleaning of bank notes, Share price (GBP) 210p with central banks as its major customers Market C
Slide 9: Carbon Conscious Investments Ltd
Sandon Capital Investments Ltd Carbon Conscious Investments Ltd • CCIL manages large scale projects (~17,000 ha) registered with the Clean ACCU Spot Price Energy Regulator that generate Australian Carbon Credit Units (ACCUs) 55 • CCIL has Carbon Plantation Agreements (CPAs) with Origin Energy and BP
Slide 10: Fleetwood Ltd (FWD)
Sandon Capital Investments Ltd Fleetwood Ltd (FWD) • FWD has three business units: Financial Summary • Building Solutions – Australia’s largest modular builder • Community Solutions – owns and manages accommodation Share price $2.49 facilities Market capitalisation $232.1m Net debt / (cash) ($57.5m)
Slide 11: COG Financial Services Ltd (COG)
Sandon Capital Investments Ltd COG Financial Services Ltd (COG) • COG is: Financial Summary • Australia’s largest SME finance broker network (~21% share) • a fast-growing novated lease provider Share price $1.22 • a specialist lender through its Westlawn business Market capitalisation $246.2m • SME
Slide 12: Karoon Energy Ltd (KAR)
Sandon Capital Investments Ltd Karoon Energy Ltd (KAR) • KAR is an oil and gas producer with offshore operations in USA (Gulf of Mexico) and Brazil (Santos Basin) Financial Summary • In recent years, KAR has evolved from being an explorer to Share price $1.56 producer Market capitalisation (A$m) $1,
Slide 13: Magellan Financial Group Ltd (MFG)
Sandon Capital Investments Ltd Magellan Financial Group Ltd (MFG) • MFG is a well-known funds management company with three core strategies: Financial Summary Share price $7.52 • Global Equities • Infrastructure Equities Market capitalisation $1,325m • Australian Equities (Airlie) Net debt / (cash)
Slide 14: Market observations
Sandon Capital Investments Limited Market observations • Global markets are in tariff turmoil. It is too soon to know how this will play out. We consider sentiment (and structural factors, like passive investing) are having outsized effects so far • Time will provide more details and facts on which
Slide 15: About us
SANDON CAPITAL About us
Slide 16: We seek change to create or enhance value
Why Sandon Capital We seek change to create or enhance value Extensive contacts We build coalitions of like-minded investors Pre-eminent and unique track record of Stakeholders include institutional shareholder activism investors, directors, proxy advisers, We have unrivalled investment bankers, jou
Slide 17: We invest in undervalued companies
Investment Opportunities We invest in undervalued companies As value investors, we look for undervalued assets, where: Human nature creates attractive investment opportunities that require shareholders to liberate or Prices are below their intrinsic value create value. We can encourage positive chan
Slide 18: We actively engage with companies to promote positive changes
Our Approach We actively engage with companies to promote positive changes Identify companies that are Transform a company so its Takes time for our approach Use rigorous analysis to build mispriced and where there value is better appreciated by to bear fruit. Capital we shareholder consensus. are o
Slide 19: We unlock value by taking a proactive approach
Our Activism Technique We unlock value by taking a proactive approach We focus We adapt to each on engaging unique situation, to maximise the employing both a certainty of our range of visible value creation and less visible strategies techniques Discount (Asset Value) Intrinsic Value Bilateral Mult
Slide 20: Led by a team with decades of success
Our Team Led by a team with decades of success Gabriel Campbell Derek Radzyminski Morgan Skeen Founder, CIO & Portfolio Manager Portfolio Manager Chief Operating Officer +25 YRS EXPERIENCE +20 YRS EXPERIENCE +25 YRS EXPERIENCE As the founder of Sandon Capital, Gabriel has been Campbell joined Sandon
Slide 21: Gabriel Radzyminski
C O N T A C T Gabriel Radzyminski CIO & Portfolio Manager T 02 8014 1188 M 0408 936 357 E gabriel@sandoncapital.com.au
Sandon Capital Investments — Investor Presentation (April 2025) on 6ix