Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — FY2008 Earnings Presentation
18 slides from Washington H. Soul Pattinson And's earnings presentation, Sep 25, 2008
Slide 1: Review of Operations for Year Ended 31st July 2008
For personal use only Review of Operations For Year Ended 31st July 2008
Slide 2: 2008 Result Highlights
For personal use only 2008 Result Highlights • Group profit after tax and before non regular items increased by 14.1% to $113.1m (2007 restated $99.2m). • The increased profits were driven by: WHSP’s investment portfolio - significantly outperforming the benchmark S&P/ASX 300. New Hope Corporation –
Slide 3: Group Performance: Consolidated Profit Results
For personal use only Group Performance Consolidated Profit Results - Profit After Tax and Outside Equity ($m) AGAAP AIFRS 405.7 450 400 350 300 250 155.9 200 130.2 96.1 99.2 113.1 90.8 150 88.3 93.9 86.4 78.7 81.5 100 50 0 2003 2004 2005 2006 2007 2008 Before non-regular items After non-regular ite
Slide 4: Group Performance: Earnings per Share
For personal use only Group Performance Earnings per Share AGAAP AIFRS 170 180 160 140 120 100 65.3 80 55 40 42 47.4 38.1 60 37 39 36 33 34.2 40 20 0 2003 2004 2005 2006 2007 2008 Before non-regular items After non-regular items
Slide 5: Group Performance: Dividends per Share
For personal use only Group Performance Dividends per Share (excluding Special Dividends) • The Directors have declared a fully franked final dividend of 18 cents per 45 share for the year ended 31st July 2008 40 27 28.5 30 (2007 – 17 cents). 35 25 30 17 20 25 • The final dividend of 18 cents per 20
Slide 6: WHSP Share Portfolio
For personal use only Investments WHSP Share Portfolio • The market value of the listed investment portfolio, including listed controlled entities and associates, was $3.6 billion as at the 31st July 2008. An increase of $860 million. • As at the 31st July 2008 the WHSP share price was trading at a
Slide 7: WHSP Share Portfolio
For personal use only Investments WHSP Share Portfolio • The increase in the value of the listed investment portfolio was mostly due to the significant appreciation in New Hope Corporation’s (NHC) share price. • On the 1st of August 2007 the NHC share price was $2.10, at year end it had increased to
Slide 8: WHSP Share Portfolio: Purchases
For personal use only Investments WHSP Share Portfolio • During the year $30.2 million was invested in the equity market (this included purchases of shares in controlled entities and associates of $19.7 million). The main purchases were: Australian Pharmaceutical Industries New Hope Corporation Limi
Slide 9: WHSP Share Portfolio: Disposals
For personal use only Investments WHSP Share Portfolio • The net gain on disposals for the period was $6.2 million before tax. Proceeds from disposals totalled $13.2 million including cash and shares of $10.7 million received as a result of takeovers. The main disposals were: Publishing and Broadcas
Slide 10: WHSP Share Portfolio: Dividend Income
For personal use only Investments WHSP Share Portfolio • Dividend and distribution income from the investment portfolio, excluding special dividends and dividends received from controlled and associated entities, was $21.9 million, up 15.8% on the previous year. • Including special dividends income
Slide 11: Associated Entities: Brickworks Limited 2008 Results
For personal use only Investments – Associated Entities Brickworks Limited – 2008 Results • Brickworks has posted NPAT for the year ended 31st July 2008 of $108.2 million (2007: $102.2 million), an increase of 5.9%. This is the seventh profit increase in succession and highlights the benefits of the
Slide 12: Associated Entities: Australian Pharmaceutical Industries 2008 Results
For personal use only Investments – Associated Entities Australian Pharmaceutical Industries Limited (API)– 2008 Results • API has changed its financial year from an April close to an August close. API will report its 2008 financial year results on 29 October 2008. Up until this change WHSP has equi
Slide 13: Associated Entities: Clover Corporation 2008 Results
For personal use only Investments – Associated Entities Clover Corporation Limited – 2008 Results • Clover recorded NPAT for the year ended 30th June 2008 of $4.1 million (2007: $0.6m), an increase of 551%. Directors declared a 1.0 cent fully franked dividend for the year. • The strong financial per
Slide 14: Associated Entities: SP Telemedia 2008 Results
For personal use only Investments – Associated Entities SP Telemedia Limited (SOT) – 2008 Results • As a result of SOT’s merger with TPG Holdings, WHSP’s control over SOT has ceased. Accordingly, the investment in SOT was accounted for using the equity method from the 7th of April 2008. • SOT report
Slide 15: Associated Entities: Ruralco 2008 Results
For personal use only Investments – Associated Entities Ruralco Limited – 2008 Results • As a result of WHSP acquiring additional shares in Ruralco on the 4th June 2008, WHSP’s investment in Ruralco was reclassified as an investment in an associated company. Accordingly, this investment has been equ
Slide 16: Controlled Entities: New Hope Corporation 2008 Results
For personal use only Investments – Controlled Entities New Hope Corporation Limited – 2008 results • New Hope has reported NPAT from its coal mining, investments and port operations of $90.7 million for the year ended 31st July 2008 (2007: $69.3m), a 30.8% increase over last year. • Basic EPS for t
Slide 17: Associated Entities: KH Foods 2008 Results
For personal use only Investments – Associated Entities KH Foods Limited (KHF) – 2008 Results • KHF has reported a loss for the year ended 31st July 2008 of $13.7m (2007: $58.2m loss). • KHF has completed the divestment of its grocery cake business to George Weston Foods, Beaumont’s route business t
Slide 18: For personal use only
For personal use only Level 1 160 Pitt Street Sydney NSW 2000 T: 9232 7166 F: 9235 1747 W: www.whsp.com.au
Washington H. Soul Pattinson and Company — FY2008 Earnings Presentation on 6ix