Spheria Emerging Cos. Ltd. · ASX:SEC

Spheria Emerging Cos — H1 2019 Earnings Presentation

15 slides from Spheria Emerging Cos's earnings presentation, Feb 28, 2019

  1. Slide 1: Conference call reminder and presentation on half-year results

    Spheria Emerging Companies Limited Level 35, 60 Margaret Street Sydney NSW 2000 Telephone: 1300 010 311 Email: invest@pinnacleinvestment.com ACN 621 402 588 For personal use only 28 February 2019 Company Announcements ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000 Dear Shareholder, Con

  2. Slide 2: Half-Year Results and Portfolio Update

    For personal use only Spheria Emerging Companies Limited ASX : SEC Half-Year Results and Portfolio Update

  3. Slide 3: Agenda

    2 For personal use only Agenda 1. SEC Company update 2. Portfolio update 3. Questions

  4. Slide 4: Half-year results FY2019

    3 Spheria Emerging Companies (ASX: SEC) Half-year results FY2019 For personal use only 1HFY19 loss Portfolio performance1 Company performance2 $9.2m -10.5% -10.7% (+2.0% to benchmark) Dividend Annualised yield* Cash 2.0c 3.5% Franking (100%) 0.9c Grossed-up 2.9c 5.0% * Based on share price as at 18

  5. Slide 5: NTA breakdown for 1HFY19

    4 NTA breakdown for 1HFY19 For personal use only $2.20 $2.102 - $0.220 $2.10 Pre-Tax NTA per SEC share $2.00 $0.002 - $0.003 -$0.040 $1.90 $1.841 $1.80 $1.70 Pre-tax NTA 1 Portfolio Tax provided Company Dividends paid Pre-tax NTA 31 Jul 2018 performance expenses Dec 2018 Source: Spheria Asset Manage

  6. Slide 6: Dividend details

    5 Dividend details For personal use only Interim dividend Amount Dividend ex-date Record date Payment date 2.0 cents per share 5 March 2019 6 March 2019 20 March 2019 • Shares outstanding 66,337,546 1 • Price $1.72 1 • Market capitalisation $114.1m 1 The Company aims to pay fully franked dividends f

  7. Slide 7: Performance History

    6 Performance History For personal use only SEC Portfolio performance Net Performance as at 31st Dec 2018 Period 3 month 6 month 1 year Since Inception Inception Date SEC Mandate performance -13.2% -11.0% -7.2% -3.8% 30/11/2017 Benchmark -13.7% -12.7% -8.7% -5.5% Outperformance +0.5% +1.8% +1.5% +1.

  8. Slide 8: Navitas (NVT.ASX)

    7 (NVT.ASX) For personal use only Cash Flow Conversion EV/EBITA 180.0 120% 25x 110% 160.0 100% 20x 140.0 120.0 80% 15x 100.0 60% 80.0 10x 60.0 40% 40.0 5x 20% 20.0 0.0 0% 0x Oct-07 Oct-09 Oct-11 Oct-13 Oct-15 Oct-17 Feb-07 Feb-09 Feb-11 Feb-13 Feb-15 Feb-17 Jun-06 Jun-08 Jun-10 Jun-12 Jun-14 Jun-16

  9. Slide 9: Trade Me (TME.NZ)

    8 (TME.NZ) For personal use only Cash Flow Conversion TME : Growth in Classifieds 160.0 120% 70% 140.0 60% 98% 100% 120.0 50% 80% 100.0 40% 80.0 60% 30% 60.0 40% 20% 40.0 20% 10% 20.0 0.0 0% 0% FY12A FY13A FY14A FY15A FY16A FY17A FY18A FY11A FY12A FY13A FY14A FY15A FY16A FY17A FY18A FY19F FY20F FY21

  10. Slide 10: Class Limited (CL1.ASX)

    9 (CL1.ASX) For personal use only Cash Flow Conversion Number of SMSF Accounts 14.0 100% 700,000 89% 90% 12.0 600,000 80% 10.0 70% 500,000 60% 8.0 400,000 50% 6.0 300,000 40% 4.0 30% 200,000 20% 2.0 10% 100,000 140,690 154,053 163,464 167,631 110,614 127,806 81,823 96,637 0.0 0% 43,000 54,280 68,000

  11. Slide 11: Highlights

    10 Highlights For personal use only Valuations inexpensive in microcaps Spheria smaller companies fund beneficiary of M&A activity • cash flow generative businesses; • balance sheets strong; and • most importantly valuations attractive In medium term, economically sensitive stocks starting to offer

  12. Slide 12: Company positions

    11 Company positions For personal use only Spheria Emerging Companies as at 31 December 2018 Ticker Name % Portfolio NVT Navitas Limited 6.3% BGA Bega Cheese Ltd 5.6% FBU Fletcher Building 5.4% PTM Platinum Asset 4.7% TME Trade Me Group 4.7% A2B A2B Australia Ltd 4.6% TNE Technology One 4.5% MND Mon

  13. Slide 13: Experienced, cohesive investment team

    12 Experienced, cohesive investment team For personal use only Matthew Booker Marcus Burns Portfolio Manager Portfolio Manager Over 20 years industry experience. Over 20 years industry experience of Significant alpha generation managing which 7 years in London. Small Companies funds at Spheria, Sign

  14. Slide 14: Questions

    For personal use only Questions 13

  15. Slide 15: LIC Disclaimer

    14 LIC Disclaimer For personal use only Spheria Emerging Companies Limited ACN 621 402 588 (SEC) Spheria Asset Management Pty Ltd (ABN 42 611 081 326, Corporate Authorised Representative No. 1240979) (‘Spheria’) is the investment manager of Spheria Emerging Companies Limited ABN 84 621 402 588 (‘SEC

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