Netwealth Group Ltd. · ASX:NWL
Netwealth — Shareholder Meeting (November 2024)
40 slides from Netwealth's shareholder meeting presentation, Nov 20, 2024
Slide 1: Netwealth 2024 AGM Addresses and Presentation announcement
20 November 2024 ASX Announcement Netwealth Group Ltd ABN 84 620 145 404 Level 6/180 Flinders Street Melbourne VIC 3000 Netwealth 2024 Annual General Meeting Addresses and Presentation PO Box 336 South Melbourne VIC 3205 Netwealth Group Limited (ASX: NWL) will today address shareholders at its Annua
Slide 2: Chair's Address
2024 Annual General Meeting Addresses and Presentation ASX Release – 20 November 2024 Chair’s Address The 2024 financial year (FY24) was another year of milestones and impressive performance for Netwealth. Throughout FY24, inflation steadily declined and global equity markets rebounded from their fi
Slide 3: CEO and Managing Director's Address
I thank my fellow Directors for their dedication, insightful advice and governance. I take this opportunity to welcome Sarah Brennan to the board. Sarah brings extensive industry experience and complementary skills and has immediately added significant value. Finally, I thank our clients and shareho
Slide 4: Netwealth products and platform
• Wealth Solutions which consists of the Financial products that we offer including our flagship Super and Wealth Accelerator Products, our managed account and our Global Specialist funds; • WealthTech platform includes our web based and mobile native client and partner portals as well as our underl
Slide 5: About Netwealth
About Netwealth Netwealth is a financial services company listed on the Australian Securities Exchange (ASX: NWL). Netwealth was created with an entrepreneurial spirit to challenge the conventions of Australia’s financial services. We are a technology company, a superannuation fund and an administra
Slide 6: Annual General Meeting FY2024
For personal use only See wealth differently Annual General Meeting FY2024 20 November 2024 1 FY2024 AGM 20 November 2024 Disclaimer: This document is for general use. Modification of content is prohibited unless you have Netwealth’s express prior written consent.
Slide 7: Our purpose
Our purpose is For personal use only To enable people to see wealth differently and discover a brighter future 2 FY2024 AGM 20 November 2024
Slide 8: Acknowledgement of Country
For personal use only Acknowledgement of Country We acknowledge the traditional owners of the lands that we work and live on. Our office here in Melbourne is on the lands of the traditional owners, the Wurundjeri people of the Kulin Nation. We celebrate the stories, culture and traditions of the Abo
Slide 9: Today's presenters and agenda
Today’s presenters and agenda For personal use only Meet Discover 1. Chair’s address 2. CEO’s address Tim Antonie Matt Heine 3. Formal business Chair CEO and Managing Director 4 FY2024 AGM 20 November 2024
Slide 10: Netwealth's Board of Directors
Netwealth’s Board of Directors Tim Antonie Matt Heine Michael Heine For personal use only Chair and Non-Executive Director CEO and Managing Director Founder and Non-Executive Director (joined 2015) (joined 2001) (As at 1 July 2024) • Over 20 years’ experience in the wealth management • Founded Netwe
Slide 11: Other attendees
Other attendees For personal use only Rita Harris Grant Boyle Jodie Henson Independent Chair of Netwealth Chief Financial Officer and Joint Chief Risk, Legal and Governance Superannuation Services Company Secretary (joined 2017) Officer and Joint Company Secretary (joined Sep 2020) (joined 2023) • O
Slide 12: Items of formal business
Items of formal business For personal use only 1. Consideration of the Annual Financial Report and Directors’ and Auditor’s Reports; 2. Adoption of the Remuneration Report; 3. Re-election of Director, Ms Kate Temby; 4. Election of newly appointed Director, Ms Sarah Brennan; 5. Approval of the CEO an
Slide 13: Chair's Address
For personal use only 2024 Chair’s Address Mr Tim Antonie 8 FY2024 AGM 20 November 2024
Slide 14: Consistent momentum in FUA, FUM and Market Share growth
Consistent momentum in FUA, FUM and Market Share growth For personal use only Total industry platform FUA increased by 10.3% to $1.1Tr for 12 months Netwealth’s total FUA increased 25.2% to $88.0B for 12 months to 30 to 30 June 2024. Netwealth’s market share increased 0.9% to 7.9%. June 2024. 7.9% 7
Slide 15: Driver for increasing revenue and profit
Driver for increasing revenue and profit EBITDA margin of 48.8% for FY2024, increase 1.9% from FY2023 For personal use only Total income $255.2M for FY2024, increased 18.9% in FY2024. EBITDA $124.7M, increased 23.8% in FY2024. 4 year CAGR of 19.1%. 4 year CAGR of 17.2%. Total income EBITDA $255.2M $
Slide 16: Delivering shareholder value
Delivering shareholder value For personal use only NPAT $83.4M for FY2024, increased 24.1% in FY2024. Dividend per share 28.0 cents for FY2024, increased 16.7% in FY2024. 4 year CAGR of 17.6%. 4 year CAGR of 17.5%. NPAT Dividends (cps) 28.0 $83.4M 24.0 $67.2M 20.0 18.6 $54.1M $55.6M 14.7 $43.7M FY20
Slide 17: High cash conversion rate
High cash conversion rate For personal use only Operating net cash flow before tax of $127.3M for FY2024, increased 19.8% from FY2023 An extremely high correlation between EBITDA and operating Operating net cash flow before tax cash flow, resulting in strong cash generation FY2024 Return on Equity 6
Slide 18: Netwealth's corporate sustainability
Netwealth’s corporate sustainability Ongoing development of our core business will have the biggest impact and it is supported by a genuine and transparent approach For personal use only Foster diversity, talent and wellbeing Be genuine and transparent in our dealings • Achieved 7.9 employee engagem
Slide 19: Executive Team
Executive Team Netwealth Group Limited For personal use only Matt Heine Grant Boyle John Hanrahan Jodie Henson Shanyn Payne Alistair Densley CEO and Managing Retiring Chief Chief Information Chief Risk, Legal and Chief People Officer Executive General Director (CEO) Financial Officer Officer Governa
Slide 20: Thank you
For personal use only Thank you • Netwealth Superannuation Services • Our Board of Directors • Our shareholders • Our clients 15 FY2024 AGM 20 November 2024
Slide 21: CEO's Address
For personal use only 2024 CEO’s Address Mr Matt Heine 16 FY2024 AGM 20 November 2024
Slide 22: Consistent track record of growth
Consistent track record of growth Successful expansion in key market target segments supported by new Core and Non-Custodial product launches Current FUA as at 18 November $98.6B, 12% growth to 30 June 2024 For personal use only Growth in FUA, FUM and Accounts FUA by client segment FUA by client typ
Slide 23: Structural shift continues and shows no signs of slowing down
Structural shift continues and shows no signs of slowing down Netwealth remains a significant beneficiary of structural change increasing market share against the legacy platforms resulting in increased market share to 7.9%. Netwealth gained +0.9% market share in one year and gained +5.2% market sha
Slide 24: Our strategic advantage
Our strategic advantage We seek to drive change that matters by delivering innovative products and service that leverage data, technology and connectivity For personal use only Our advantage is that we drive WEALTHTECH INSIGHTS & change that matters by delivering Powerful transaction, ANALYTICS inno
Slide 25: AI @ Netwealth
AI @ Netwealth Leverage the capabilities of AI to create innovative solutions Back office and optimise processes across the following key areas For personal use only • Automation of repetitive and routine Tasks • Document Automation and Data extraction • Data Processing and Analysis • Risk Managemen
Slide 26: Outlook
Outlook Focused on investing in and leveraging our people, product and technology capabilities to benefit from a substantial number of existing and emerging opportunities in the market, to innovate and grow profitably. For personal use only Netwealth remains in excellent financial position: Our new
Slide 27: Formal Business Update
For personal use only 2024 Formal Business Update Mr Tim Antonie 22 FY2024 AGM 20 November 2024
Slide 28: Annual Financial Report and Directors' and Auditor's Reports
Item 1 Annual Financial Report and Directors’ and Auditor’s Reports For personal use only To consider Netwealth’s Annual Financial Report, Directors’ Report and the Independent Auditor’s Reports for the financial year ended 30 June 2024. No resolution is required for this item of business. Any Quest
Slide 29: Adoption of the Remuneration Report
Item 2 Adoption of the Remuneration Report For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That the Remuneration Report for the year ended 30 June 2024, which forms part of the Directors’ Report, be adopted.” 24 FY2024 AGM 20 Novemb
Slide 30: Adoption of the Remuneration Report: Proxy Votes
Item 2 Adoption of the Remuneration Report For personal use only Proxy Votes Received For Open Against Abstain 73,454,908 39,461 19,610,732 5,591 78.89% 0.04% 21.06% *Open votes totalling 18,546 (0.02%) in favour of the Chair (whether by election or default) will be voted in favour of Item 2. 25 FY2
Slide 31: Re-election of Director, Ms Kate Temby
Item 3 Re-election of Independent Non-Executive Director, Ms Kate Temby For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That Ms Kate Temby be re-elected as a director of Netwealth.” 26 FY2024 AGM 20 November 2024
Slide 32: Re-election of Kate Temby: Proxy Votes
Item 3 Re-election of Independent Non-Executive Director, Ms Kate Temby For personal use only Proxy Votes Received For Open Against Abstain 192,758,910 40,801 1,412,683 3,288 99.25% 0.02% 0.73% *Open votes totalling 19,886 (0.02%) in favour of the Chair (whether by election or default) will be voted
Slide 33: Election of Director, Ms Sarah Brennan
Item 4 Election of Executive Director, Ms Sarah Brennan For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That Ms Sarah Brennan be elected as a director of Netwealth.” 28 FY2024 AGM 20 November 2024
Slide 34: Election of Sarah Brennan: Proxy Votes
Item 4 Election of Executive Director, Ms Sarah Brennan For personal use only Proxy Votes Received For Open Against Abstain 193,991,708 40,801 179,872 3,301 99.89% 0.02% 0.09% *Open votes totalling 19,886 (0.02%) in favour of the Chair (whether by election or default) will be voted in favour of Item
Slide 35: Approval of CEO Long Term Incentive Award
Item 5 Approval of the CEO and Managing Director’s Long Term Incentive Award For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That for the purposes of ASX Listing Rule 10.14, approval is given to grant 47,968 Performance Rights to Mr
Slide 36: CEO Long Term Incentive Award: Proxy Votes
Item 5 Approval of the CEO and Managing Director’s Long Term Incentive Award For personal use only Proxy Votes Received For Open Against Abstain 72,511,929 40,801 20,556,286 1,676 77.88% 0.04% 22.08% *Open votes totalling 19,886 (0.02%) in favour of the Chair (whether by election or default) will be
Slide 37: Increase in Non-Executive Directors' aggregate fee pool
Item 6 Increase in the Non-Executive Directors’ aggregate fee pool For personal use only To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “To increase the Non-Executive Directors’ Aggregate Fee Pool from $1,300,000 p.a. to $1,500,000 p.a. under ASX listing
Slide 38: Non-Executive Directors' fee pool: Proxy Votes
Item 6 Increase in the Non-Executive Directors’ aggregate fee pool For personal use only Proxy Votes Received For Open Against Abstain 92,932,852 40,801 47,296 69,098 99.91% 0.04% 0.05% *Open votes totalling 19,886 (0.02%) in favour of the Chair (whether by election or default) will be voted in favo
Slide 39: Important notice and disclaimer
Important notice and disclaimer For personal use only General Information only any forecast result will be achieved, or that there is a reasonable basis for any of these statements or forecasts. Forward-looking statements speak only as at the date of this Information provided is general information
Slide 40: Thank you
Thank you For personal use only See wealth differently Discover the possibilities
Netwealth Group — Shareholder Meeting (November 2024) on 6ix