Perpetual Limited · ASX:PPT
Perpetual — H1 2005 Earnings Presentation
18 slides from Perpetual's earnings presentation, Feb 23, 2005
Slide 1: 2005 Half Year Results
2005 Half Year Results Media Briefing 23 February 2005 Perpewesp ae ——lUCE
Slide 2: Agenda
Agenda First half highlights Corporate strategy update Outlook Perpetual Pp
Slide 3: An excellent first half result
An excellent first half result Dec 2004 Dec 2003 % Change Operating profit after tax’) $41.4m 31% Profit after tax $42.4m 58% Interim dividend pe share 70¢ 86% EPS@)3) 109.2 ¢ 29% (1) Operating profit after tax excludes realised gains on investments and one-off costs of major strategic initiatives (
Slide 4: Track record of continued profit growth
Track record of continued profit growth Operating Profit after Tax $M 60-7 Dec Dec Dec Dec Dec 00 o1 02 03 04 cents 150- 100-7 50 EPS 140.6 Dec Dec Dec Dec Dec 00 01 02 03 04
Slide 5: 19% Increase in revenues driven by strong growth in asset volumes
19% Increase in revenues driven by strong growth in asset volumes Funds Under Funds Under Advice & Funds Under Management Administration Administration Perpetual Investments Perpetual Private Clients Corporate Trust $B $B 305 150- 254 424.1 207 100+ 154 104 504 Ss o- 0 oJ Dec Jun Dec Jun Dec Dec Jun
Slide 6: 26% growth in EBITDA
26% growth in EBITDA EBITDA EBITDA % Dec 2004 Dec 2003 Change Wealth Management $56.8m 32% Corporate Trust $12.9m 17% Group unallocated ($2.8m) - TOTAL* $66.9m 26% * Excludes gains on sale of investments and one-off costs of major strategic initiatives
Slide 7: Excellent growth for Wealth Management
Excellent growth for Wealth Management = Expansion of EBITDA margin through revenue growth and cost control * Continued excellent investment performance = Funds under management up 20% since 30 June 2004 Opened global equities business in Ireland Launched credit and property products * Quantitative
Slide 8: Continued outstanding performance in Australian Equities
Continued outstanding performance in Australian Equities Excess over benchmark (pre-fees) (3 Year Rolling Excess Performance} Variance to benchmark 10.0% 8.0 Australian Share Fund Performance 6.05 4.04 ist Quartile 2.04 Performers- . Mercers Universe 0 0 T T T T T T T T T T T T T T T T T T T T T T 1
Slide 9: Performance well recognised by the market during this half
Performance well recognised by the market during this half « Fund Manager of the Year 2004 # Best Rated Australian Equities Fund = Best Growth Fund « Golden Bull Award for Fund Manager of the Year 2004 « Australian Equity Fund Manager of the Year 2004 « Best rated Australian Equities Fund = Best rat
Slide 10: Global equities business fully operational
Global equities business fully operational « PIIML (PI Investment Management Ltd.) established and operating in Dublin * Recently authorised by the lrish Financial Services Regulatory Authority to commence operations « Team of 7 very well regarded asset managers = Highly experienced London-based ins
Slide 11: Steady growth in Corporate Trust
Steady growth in Corporate Trust « Growth driven by strong securitisation volumes « Securitisation revenues up 17% on prior corresponding half year « Continued strong issuances of residential mortgage backed securities « Continuing to win new securitisation clients * Vision is to be the end-to-end p
Slide 12: Agenda
Agenda First half highlights Corporate strategy update Outlook Perpetual Pp
Slide 13: Implementing our strategy
Implementing our strategy pro ee I A A IL Develop new 9 wth ill. Fully engage our people to deliver our strategy
Slide 14: Implementation: Developing a more balanced portfolio and new growth engines
Implementation: Developing a more balanced portfolio and new growth engines « Expanded our asset management footprint « Global equities « Credit * Opened global equities business in Ireland # Initial flows into credit income and credit enhanced cash products * Launched property income and capital pr
Slide 15: Expanding our asset management footprint
Expanding our asset management footprint | Mortgages | Mezz Debt felicia §=6Domestic infra- structure - Hedge | Domestic Hybrids ) Currency! TAA Hedge Funds Emerging Styles Markets Hedge r Funds Broad Direct Property Vanilla Bonds Skills we currently possess
Slide 16: Agenda
Agenda First half highlights Corporate strategy update tlook Perpetual Pp
Slide 17: A good platform for growth
A good platform for growth « Favourable operating environment * Strong retirement savings trend # Healthy growth in Corporate Trust industry « Strong second half starting position for funds under management and funds under advice « Added growth capabilities in the first half “ae We expect to record
Slide 18: 2005 Half Year Results
2005 Half Year Results Media Briefing 23 February 2005 Perpewesp ae ——lUCE