Slide 1: Equity Trustees Half Year Result – Solid Increase
27 February 2012 Equity Trustees Half Year Result – Solid Increase For personal use only Equity Trustees Limited (ASX: EQT) today confirmed that the audited result for the six months ended 31 December 2011, was unchanged from the release of the unaudited numbers on 30 January 2012. The results discl
Slide 2: Managing Director comments and contact details
He added, “I am confident we have demonstrated an ability to successfully integrate acquisitions, but we are also aware that valuations need to be carefully watched in a market For personal use only where buyers with deep pockets and acquisitive natures are active. Regardless of the pre FoFA activit
Slide 3: Appendix 4D – Half Year Report
Appendix 4D – Half Year Report For personal use only Name of entity Equity Trustees Limited ABN or equivalent company reference Half Year Ended 46 004 031 298 31 December 2011 RESULTS FOR ANNOUNCEMENT TO THE MARKET 31 Dec 11 31 Dec 10 $ '000 $ '000 Revenue from ordinary activities 21,061 Up 11.1% Fr
Slide 4: ASX Additional Information
ASX ADDITIONAL INFORMATION Additional information required by the ASX, and not shown elsewhere in this report, follows. The information is current as at 31 December 2011. Net tangible asset backing per share The net tangible asset backing per share at 31 December 2011 was $1.28 (2010: $1.37), which
Slide 5: Consolidated Half Year Financial Report
For personal use only Equity Trustees Limited ABN 46 004 031 298 Consolidated Half Year Financial Report for the half year ended 31 December 2011
Slide 6: Table of Contents
Equity Trustees Limited Table of Contents For personal use only Directors' Report 2 Auditor's Independence Declaration 4 Directors' Declaration 5 Condensed Consolidated Income Statement 6 Condensed Consolidated Statement of Comprehensive Income 7 Condensed Consolidated Statement of Financial Positio
Slide 7: Directors' Report
Equity Trustees Limited ABN 46 004 031 298 Directors' Report For personal use only The directors of Equity Trustees Limited submit herewith the financial report for Equity Trustees Limited and its subsidiaries (the Group) for the half year ended 31.December.2011. In order to comply with the provisio
Slide 8: Directors' Report (cont'd)
Equity Trustees Limited ABN 46 004 031 298 Directors' Report (cont’d) For personal use only Dividends During the half year period the company paid a fully franked final dividend of 50 cents per share in respect of the financial year ended 30 June 2011. Subsequent to 31 December 2011, the directors h
Slide 9: Auditor's Independence Declaration
Deloitte Touche Tohmatsu ABN 74 490 121 060 550 Bourke Street Melbourne VIC 3000 GPO Box 78 Melbourne VIC 3001 Australia DX: 111 Tel: +61 3 9671 7000 Fax: +61 3 9671 7001 For personal use only www.deloitte.com.au The Board of Directors Equity Trustees Limited Level 2, 575 Bourke Street MELBOURNE VIC
Slide 10: Directors' Declaration
Directors' Declaration The directors declare that: a) in the directors' opinion, there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable; and For personal use only b) in the directors’ opinion, the attached financial statements a
Slide 11: Condensed Consolidated Income Statement
Equity Trustees Limited Condensed Consolidated Income Statement for the half year ended 31 December 2011 Consolidated Half year ended Half year ended 31 Dec 2011 31 Dec 2010 For personal use only Note $ $ Continuing operations Revenue 20,524,538 18,234,415 Other revenue 536,397 715,052 Total revenue
Slide 12: Condensed Consolidated Statement of Comprehensive Income
Equity Trustees Limited Condensed Consolidated Statement of Comprehensive Income for the half year ended 31 December 2011 Consolidated Half year ended Half year ended 31 Dec 2011 31 Dec 2010 Note $ $ For personal use only Net profit after income tax expense from continuing operations 3,872,306 3,701
Slide 13: Condensed Consolidated Statement of Financial Position
Equity Trustees Limited Condensed Consolidated Statement of Financial Position as at 31 December 2011 Consolidated 31 Dec 2011 30 Jun 2011 For personal use only Note $ $ Current assets Cash and cash equivalents 4,510,934 6,252,593 Trade and other receivables 4,239,348 3,814,936 Other 2,472,334 2,753
Slide 14: Condensed Consolidated Statement of Changes in Equity
Equity Trustees Limited Condensed Consolidated Statement of Changes in Equity for the half year ended 31 December 2011 Reserves Fully paid Investment Equity Retained Attributable Non- Total Equity ordinary revaluation settled earnings to owners controlling shares benefits of the parent interests For
Slide 15: Condensed Consolidated Statement of Cash Flows
Equity Trustees Limited Condensed Consolidated Statement of Cash Flows for the half year ended 31 December 2011 Consolidated Half-year ended Half-year ended 31 Dec 2011 31 Dec 2010 For personal use only Notes $ $ Cash flows from operating activities Receipts from customers 24,528,971 19,411,028 Paym
Slide 16: Notes: Summary of accounting policies
Equity Trustees Limited Notes to the Condensed Consolidated Financial Statements for half year ended 31 December 2011 1. Summary of accounting policies Statement of compliance For personal use only The half year financial report is a general purpose financial report prepared in accordance with the C
Slide 17: Notes: Dividends and Acquisition of businesses
Equity Trustees Limited Notes to the Condensed Consolidated Financial Statements for the half year ended 31 December 2011 Half year ended Half year ended 31 Dec 2011 31 Dec 2010 Cents per Cents per share $ share $ For personal use only 2. Dividends Recognised amounts Fully paid ordinary shares Final
Slide 18: Notes: Acquisition of businesses (cont'd)
Equity Trustees Limited Notes to the Condensed Consolidated Financial Statements for the half year ended 31 December 2011 3. Acquisition of businesses (cont'd) Half year ended 31 Dec 2011 31 Dec 2010 For personal use only Goodwill arising on acquisition $ $ Consideration 1,384,589 10,782,509 Less fa
Slide 19: Notes: Segment information
Equity Trustees Limited Notes to the Condensed Consolidated Financial Statements for the half year ended 31 December 2011 7. Segment information AASB 8 requires operating segments to be identified on the basis of internal reports about components of the Group that are regularly reviewed by the chief
Slide 20: Independent Auditor's Review Report
Deloitte Touche Tohmatsu ABN 74 490 121 060 550 Bourke Street Melbourne VIC 3000 GPO Box 78 Melbourne VIC 3001 Australia DX: 111 Tel: +61 3 9671 7000 Fax: +61 3 9671 7001 For personal use only www.deloitte.com.au Independent Auditor’s Review Report to the Members of Equity Trustees Limited We have r
Slide 21: Auditor's Independence Declaration
Auditor’s Independence Declaration In conducting our review, we have complied with the independence requirements of the For personal use only Corporations Act 2001. Conclusion Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the half-year
Slide 22: Half Year Results
For personal use only Equity Trustees Limited Half Year Results to 31 December 2011
Slide 23: Overview – HY2012
Overview – HY2012 For personal use only ¾ Solid result given adverse investment market conditions. ¾ All business units performing satisfactorily for these conditions. ¾ Achieved organic revenue and FUM growth - varies across business lines. ¾ Interim dividend at 40 cps fully franked – 89% payout ra
Slide 24: Overview – HY Group results
Overview – HY Group results For personal use only Half Year Half Year 31 Dec 2011 31 Dec 2010 $m $m Change Operating revenue 20.7 18.7 11.0% Operating expenses (15.7) (13.7) (14.9%) Operating profit before tax 5.0 5.0 Income tax expense (1.4) (1.5) Operating profit after tax 3.6 3.5 3.8% Net profit
Slide 25: HY Revenue
HY Revenue For personal use only ¾ Revenue increased 11% ¾ Compound Annual Growth Rate 10.2% Investment Income ($m) 11% (Excludes profit on sale of investments) increase Business Unit Revenue ($m) $20.7m 0.2 $18.6m $18.7m $18.1m 0.6 $16.9m 0.4 0.6 $15.8m 0.4 0.5 $11.6m 20.5 0.7 18.0 15.3 18.3 17.5 1
Slide 26: HY Revenue composition
HY Revenue composition For personal use only H Y on H Y G roup Revenue Acquisition Re ve nue ($ m ) increase by 11% Recurring Re ve nue ($ m ) $2 0 .7 m $1 8 .7 m $2 .5 $ 0.6 $ 1 7.0 m $ 1 8 .2 $ 18 .1 * Ca lculation is ba se d on m ove m e nt in ASX All Ords Inde x 2011 Restating 2011 2012 revenue
Slide 27: HY Operating revenue - change
HY Operating revenue - change For personal use only ¾ Operating revenue up 11% to $20.7m +$1.40m +28.7 - $0.3m +$20.7m - 5.0% +11.0% +$0.45m +5.4% +$0.45m +9.7% $18.7m YTD Private CF&FS Super Other YTD 2010/11 Clients 2011/12 Trusted since 1888 6
Slide 28: Operating revenue - composition
Operating revenue - composition For personal use only Investment Income & Other Superannuation Corporate Fiduciary & Financial Services Private Clients $20.7m 2% $ 18.6m $ 18.7m $ 18.1m 4% 6% 6% $ 16.9m 30% $ 15.8m 5% 5% 19% 26% 25% 17% 24% $ 11.6m 7% 18% 50% 42% 47% 45% 47% 46% 51% 31% 25% 25% 25%
Slide 29: HY Expenses
HY Expenses For personal use only ¾ Operating expenses increased 14.9% $15.7m $13.7m $12.0m $12.0m $11.6m $10.6m $9.0m 2006 2007 2008 2009 2010 2011 2012 Trusted since 1888 8
Slide 30: HY Expense composition
HY Expense composition For personal use only HY on HY, Group Expenses have increased by 14.9% $15.7m $1.2 $0.2 $13.7m $0.4 $0.4 Recurring $14.3 expenses Part Period Expenses - New increase by Businesses Acquired $12.9 Non-Recurring / Early Timing 10.8% Expenses ($m) Recurring Expenses ($m) 2011 2012
Slide 31: HY Operating margin
HY Operating margin For personal use only Operating Profit (Pre tax) ($m) Operating Margin (%) (Not adjusted for non-recurring expenses) 37.8% 4 0 .0 % 8 .0 33.6% 34.3% 3 0 .0 % 6 .0 7.0 26.8% 28.7% 24.3% 6.1 23.1% 5.2 2 0 .0 % 4 .0 5.0 5.0 4.9 2 .0 2.6 1 0 .0 % 0 .0 0 .0 % 2006 2007 2008 2009 2010
Slide 32: HY Reported Earnings per Share
HY Reported Earnings per Share For personal use only ¾ Reported Earnings per Share up 2.81% to 45.08¢ per share Earnings Per Share 64.48 Weighted average shares on issue ('000) 9,000 50.86 47.35 8,589 44.23 43.85 45.08 8,441 8,291 26.83 8,000 8,085 7,880 7,710 7,089 7,000 2006 2007 2008 2009 2010 20
Slide 33: Returns to shareholders
Returns to shareholders ¾ Full year, fully franked dividend For personal use only ¾ Reflecting a current yield of approximately 6.7% before franking credits. (using 2011 Final and 2012 Interim Dividends. EQT share price of $13.40) Final (cps) Interim (cps) 110 110 110 100 60 60 60 75 50 50 45 40 30
Slide 34: Sustained shareholder return
Sustained shareholder return For personal use only 800 EQT Total Shareholder Return ¾ Assumes all dividends are reinvested 1 July 2003 to 700 31 December 2011 600 EQT Total Shareholder Return + 281.9% S&P/ASX 200 Accum. Index + 93.4% 500 400 300 Base (100) taken at 1 July 2003 200 100 S&P/ASX 200 Ac
Slide 35: Business units – operations & performance
Business units – operations & performance For personal use only 31 Dec 2011 31 Dec 2011 Target market / Business unit Key services Revenue,vs FUM/FUA,vs channel 31 Dec 2010 31 Dec 2010 Private Clients ¾ Trusts & Estates ¾ Private clients $5.2m $1,392m ¾ Philanthropy ¾ Business to business +9.8% +2.8
Slide 36: Business unit overview - Private Clients
Business unit overview - Private Clients For personal use only Operating revenue up 9.8% to $5.2m FUM/FUA at 31 D ecember 2011 up 2.8% to $1,392m 1,407 1,479 1,392 5.2 1,295 1,354 4.9 4.6 4.7 1,260 4.3 4.0 1,091 2.9 2006 2007 2008 2009 2010 2011 2012 2006 2007 2008 2009 2010 2011 2012 • Continuing g
Slide 37: Business unit overview – CF&FS
Business unit overview – CF&FS For personal use only Operating revenue up 5.4% to $8.8m FUM/FUA at 31 December 2011 up 2.8% to $18,914m 18,914 9.3 8.8 18,403 8.6 8.3 16,929 7.4 7.8 15,795 13,955 5.9 12,488 8,645 2006 2007 2008 2009 2010 2011 2012 2006 2007 2008 2009 2010 2011 2012 • Continuing posit
Slide 38: Business unit overview - Superannuation
Business unit overview - Superannuation For personal use only Operating revenue up 28.7% to $6.3m FUM at 31 December 2011 down 3.0% to $912m 940 912 6.3 4.9 630 622 4.4 4.1 547 3.5 375 434 2.0 2.6 2006 2007 2008 2009 2010 2011 2012 2006 2007 2008 2009 2010 2011 2012 • Customer Service Centre establi
Slide 39: Summary – The Environment
Summary For personal use only The Environment ¾ Demographic factors remain a positive for ‘traditional’ trustee business activities. ¾ Overall growth in financial services industry via mandated flows, increased saving rate (and potentially increased SGC to come), creates a positive environment for c
Slide 40: Summary – The Business
Summary For personal use only The Business ¾ Focus on maximising efficiency and rationalising systems and processes – objectives are to streamline business flow and IT platforms, and enhance ability to grow business activity at lower marginal cost. ¾ Restructure individual or personal client facing
Slide 41: For personal use only
For personal use only Equity Trustees Limited ABN 46 004 031 298, Australian Financial Services Licence No 240975. This document was prepared by Equity Trustees Limited and is only provided for information purposes. It is not intended to take the place of professional advice and you should not take