Oppenheimer Holdings, Inc. · NYSE:OPY
Oppenheimer — Q2 2019 Earnings Presentation
14 slides from Oppenheimer's earnings presentation, Jul 29, 2019
Slide 1: Oppenheimer Holdings Inc. Second Quarter Update – 2019
Oppenheimer Holdings Inc. Second Quarter Update – 2019
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and other written or oral statements made from time to time by representatives of Oppenheimer Holdings Inc. (the “company”) may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
Slide 3: Business Overview
Business Overview Oppenheimer is a leading investment bank and full-service investment firm that provides financial services and advice to high net worth investors, individuals, businesses and institutions. Oppenheimer Snapshot (as of 6/30/19) $250.9 million $983.8 million Listed NYSE Ticker: OPY Re
Slide 4: Summary Operating Results: 2Q-19 (Unaudited)
Summary Operating Results: 2Q-19 (Unaudited) ($000’s) For the 3-Months Ended Highlights REVENUE 6-30-19 6-30-18 % Change Commissions $ 80,896 $ 82,850 (2.4) Quarterly revenues in excess of $250 Advisory fees 80,707 77,270 4.4 million Investment banking 32,006 27,904 14.7 Advisory fees higher due
Slide 5: Summary Operating Results: 1H-19 (Unaudited)
Summary Operating Results: 1H-19 (Unaudited) ($000’s) For the 6-Months Ended REVENUE 6-30-19 6-30-18 % Change Commissions $ 160,305 $ 166,257 (3.6) Advisory fees 154,354 154,818 (0.3) Investment banking 60,049 56,114 7.0 Bank deposit sweep income 65,798 54,150 21.5 Interest 26,277 25,283 3.9 Princip
Slide 6: Second Quarter 2019 Highlights
Second Quarter 2019 Highlights (In $millions) Advisory Fees Commission Revenue Interest and Fee Revenues $82.9 $80.7 $80.9 $180 3.0% $77.3 $160 2.5% $140 $120 2.0% $100 1.5% $80 2Q-18 2Q-19 2Q-18 2Q-19 $60 1.0% Investment Banking Revenue Principal Transactions Revenue $40 0.5% $20 $0 0.0% $32.0 2015
Slide 7: Key 2Q-19 Announcements
Key 2Q-19 Announcements 1 . Announced participation in auction rate securities tender offer that will result in Auction Rate $20 million of additional liquidity in the 3Q-19 . Securities Tender Participation in the tender offer resulted in an unrealized loss of $2.4 million in the 2Q-19 Offer . Part
Slide 8: Business Segments
Business Segments Our business is well diversified across a wide range of clients, services and industries Business Mix – 2Q-19 Revenue ($252.4mm)(1) Private client services and asset WEALTH MANAGEMENT management solutions tailored to unique financial objectives $180.6mm $71.8mm Wealth Management 72
Slide 9: Wealth Management
Wealth Management* Well recognized brand and one of the few independent, non-bank broker-dealers with full service capabilities RETAIL SERVICES ADVISORY SERVICES ALTERNATIVE INVESTMENTS – Full-Service Brokerage – Investment Policy Design & – Hedge Funds and Fund-of-Funds – Financial Planning, Retire
Slide 10: Capital Markets
Capital Markets A leading capital markets business providing sophisticated investment banking, research and trading solutions INSTITUTIONAL EQUITIES INVESTMENT BANKING FIXED INCOME – Sales and Trading – Mergers & Acquisitions – Taxable Fixed Income – Equity Research – Equity Capital Markets – Non-Ta
Slide 11: Select 2Q-19 Investment Banking Transactions
Select 2Q-19 Investment Banking Transactions $1,500,000,000 $100,000,000 $234,255,000 $230,277,760 Restructuring Financial Institutions & Real Estate Healthcare Financial Institutions & Real Estate Senior Secured Credit Facility IPO Follow-on IPO Exclusive Financial Advisor and Co-Lead Manager Co-Le
Slide 12: Capital Structure
Capital Structure Conservative risk profile with strong balance sheet Liquidity & Capital As of June 30, 2019 ($ in thousands) . Announced partial redemption of 6.75% Senior Secured Notes which will take place on August 25, 2019 Total Assets: $2,562,416 . Participation in ARS issuer tender offer wil
Slide 13: Historical Financial Ratios
Historical Financial Ratios Consolidated Adjusted EBITDA ($mm) Long-Term Debt to Consolidated Adjusted EBITDA (x) 84 9 $90 8.0x 72 8 $75 7 54 6 $60 4.9x 5 $45 4 3.7x 31 2.8x 3 2.4x $30 19 2 $15 1 1.8x* $0 0 2015 2016 2017 2018 TTM 2015 2016 2017 2018 TTM 6-30-19 6-30-19 Consolidated Adjusted EBITDA
Slide 14: For more information contact Investor Relations
For more information contact Investor Relations at info@opco.com 2659074.1