Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — H1 FY2017 Earnings Presentation
14 slides from Washington H. Soul Pattinson And's earnings presentation, Mar 23, 2017
Slide 1: Results Presentation - Business Overview
For personal use only Results Presentation 1 Business Overview DIVERSIFIED LONG‐TERM CONSERVATIVE PORTFOLIO FOCUSED AND VALUE FOCUSED OVER THE LAST 15 YEARS WHSP HAS CONTINUALLY DELIVERED A TSR OF INCREASED DIVIDENDS 12.6% PER ANNUM (growing at a CAGR of 10.6% pa) (outperforming the All Ords Accumul
Slide 2: Performance Summary - Half Year Ended 31 January 2017
Performance Summary Half Year Ended 31 January 2017 For personal use only Group Profit After Tax $149.0m + 56.1% Group Regular Profit After Tax* $139.3m + 66.7% Net asset value (pre-tax) $4,506m - 25.2% (Tax payable if disposed of on 31 January 2017 is $812m) Net regular cash from operations $67.6m
Slide 3: Portfolio Performance as at 31 January 2017
Group Result (Consolidated) Half Year Ended 31 January 2017 For personal use only HY17 Regular Profit 5 Portfolio Performance As at 31 January 2017 Market % of 1st Half Contribution to 1st Half Valuation portfolio movement Regular Profit $m $m % $m % Change TPG Limited 1,381 30.6% (1,357) (49.6%) 52
Slide 4: WHSP Total Shareholder Returns
WHSP Total Shareholder Returns Focused on Long‐term Out Performance For personal use only 1 2 3 5 10 15 Annualised Returns Year Years Years Years Years Years as at 31 January 2017 WHSP (4.0%) 13.4% 4.5% 6.0% 9.3% 12.6% All Ord. Accum. Index 17.1% 5.6% 7.5% 10.3% 4.2% 7.9% as at 21 March 2017 WHSP 9.
Slide 5: WHSP Wealth Creation and Interim Dividend History
WHSP Wealth Creation over 40 years to 31 January 2017 For personal use only $1,000 invested in 1977 worth $507,031 in 2017 Compound annual return of 16.8% for 40 years Source: IRESS - Includes the re-investment of dividends. 9 Interim Dividend History Interim Dividend 22 cents per share, 19th co
Slide 6: TPG Telecom Limited
TPG Telecom Limited Half Year Ended 31 January 2017 For personal use only Percentage ownership 25.2% • 1H Revenue was $1,241m, up 8% Value of shareholding $1,381m • Underlying EBITDA $417.6m, up 13% • Underlying NPAT $207.5m, up 28% Contribution to WHSP profit $56.3m • EPS increased by 8% to 26.4 ce
Slide 7: TPG Telecom EBITDA and Brickworks Limited
TPG Telecom Limited Historical EBITDA contributions by division For personal use only EBITDA $m 13 Brickworks Limited Half Year Ended 31 January 2017 Percentage ownership 44.0% • Net Profit After Tax of $104.1 million, up 35.4% Value of shareholding $832m • Underlying NPAT (before significant Contri
Slide 8: Brickworks Limited
Brickworks Limited Underlying EBIT history by division ($m) For personal use only • Building Products EBIT up 2.1% on record revenue of $370m • Land & Development EBIT up 48.0% generated by sale of Oakdale West land into JV 15 Brickworks Limited Industrial property trust value 16 8
Slide 9: New Hope Corporation
New Hope Corporation Half Year Ended 31 January 2017 For personal use only Percentage ownership 59.6% • Revenue from ordinary activities was $374.6m, up 63% Value of shareholding $793m • EBITDA (before non-regular items) Contribution to WHSP profit $40.7m up 163% to $130.2m • Cash generated from ope
Slide 10: New Hope Seaborne Demand and Australian Pharmaceutical Industries
New Hope Corporation Seaborne thermal demand by country For personal use only 19 Australian Pharmaceutical Industries Year Ended 31 August 2016 • Revenue for the year was $3.8b, up Percentage ownership 24.5% 11.1% on FY15 Value of shareholding $227m • EBIT of $87.1m, up 17.7% Contribution to WHSP pr
Slide 11: BKI Investment Company and Apex Healthcare Berhad
BKI Investment Company Half Year Ended 31 December 2016 For personal use only Percentage ownership 10.2% • NPAT for the first half was $25.0m, up 13% Value of shareholding $106m • Net operating result (before special Contribution to WHSP profit $2.3m dividend income) was $21.2m, down 0.9% on pcp • F
Slide 12: Ruralco Holdings and WHSP Recent Developments
Ruralco Holdings Year Ended 30 September 2016 For personal use only Percentage ownership 20.1% • Revenue increased 10% to $1.8b Value of shareholding $48m • Underlying gross profit of $304.9m, up 2% Contribution to WHSP result * $1.3m loss • NPAT of $4.2m, after $9.1m impact of Contribution to WHSP
Slide 13: WHSP Recent Developments
WHSP Recent developments For personal use only • WHSP has acquired approximately 7% of Hunter Hall Global Value Global Value (HHV). Limited • HHV is a listed investment company focused on ethically screened global investments. This provides WHSP with exposure to global equities. • WHSP has indicated
Slide 14: Washington H. Soul Pattinson and Company Limited
For personal use only Washington H. Soul Pattinson and Company Limited A Diversified Investment House 14
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