BKI Investment Co. Ltd. · ASX:BKI
BKI Investment — FY2025 Earnings Presentation
26 slides from BKI Investment's earnings presentation, Jul 21, 2025
Slide 1: BKI Investment Company Results Presentation
For personal use only BKI Investment Company Results Presentation For the year ended 30 June 2025
Slide 2: Disclaimer
Disclaimer For personal use only This material has been prepared by Contact Asset Management (AFSL 494045) on behalf of BKI Investment Company Limited. The information within this document is not intended to provide advice to investors or take into account an individual’s financial circumstances or
Slide 3: 2025 Full Year Results
2025 Full Year Results For the year ended 30 June 2025 For personal use only FY2025 FY2024 Movement Result excluding special investment revenue ($m) ($m) (%) Ordinary revenue from Investment Portfolio $65.1 $64.0 2% Total Revenue - Ordinary $69.3 $68.3 1% Operating Result (before tax and special inv
Slide 4: 2025 Full Year Results
2025 Full Year Results Following the record result announced in FY2023, BKI has again delivered a solid Net Operating Result during FY2025. For personal use only Total Ordinary Revenue Management Expense Ratio (MER) (before special dividends) BKI’s MER was 0.166%, down from 0.169% last year 0.80% $7
Slide 5: 2025 Final Dividend
2025 Final Dividend Total FY2025 dividends are up 1% on last year. BKI’s final ordinary dividend is 4.00 cents per share fully franked. For personal use only Last trading date to be eligible for the final dividend is Monday 4 August 2025. Ex-dividend date is Tuesday 5 August 2025 and will be paid on
Slide 6: Neutralised Dividend Reinvestment Plan
Neutralised Dividend Reinvestment Plan For personal use only BKI’s Dividend Reinvestment Plan (DRP) has been an effective mechanism enabling shareholders to reinvest their dividends into additional company shares without incurring brokerage fees. However, our traditional DRP has led to unintended co
Slide 7: A History of Strong Dividends
A History of Strong Dividends BKI has a strong history of paying fully franked dividends and offering an attractive yield. For personal use only BKI Dividend History 5.00 2025 Final Dividend of 4.00cps 4.00 FY2025 Dividends up 1% on pcp 3.00 2.00 1.00 0.00 Ordinary Dividends per Share Special Divide
Slide 8: Performance
For personal use only Performance Results Presentation For the year ended 30 June 2025
Slide 9: Performance – Portfolio Return
Performance – Portfolio Return As at 30 June 2025 BKI Portfolio Return For personal use only 15.2% 14.8% 15.0% 13.4% 13.2% 12.6% 12.4% 10.6% 10.3% 9.5% 10.0% 8.5% 8.9% 9.4% 7.7% 7.1% 5.0% 0.0% 6 Mths 1 Year 3 Yrs pa 5 Yrs pa 10 Yrs pa 15 Yrs pa 20 Yrs pa BKI Portfolio Performance Including Franking
Slide 10: Performance - Total Shareholder Return
Performance - Total Shareholder Return As at 30 June 2025 Total Shareholder Returns (TSR) For personal use only 15.2% 14.8% 15.0% 13.2% 11.5% 11.6% 10.3% 10.6% 10.0% 10.0% 9.5% 9.4% 8.9% 7.3% 7.1% 7.3% 5.0% 0.0% 6 Mths 1 Year 3 Yrs pa 5 Yrs pa 10 Yrs pa 15 Yrs pa 20 Yrs pa BKI Total Shareholder Retu
Slide 11: Performance – Cumulative Share Price Returns
Performance – Cumulative Share Price Returns As at 30 June 2025 Cumulative Share Price Returns For personal use only Assuming all dividends were reinvested and using the benefit of franking credits, the cumulative share price of BKI shares was $7.37 per share as at 30 June 2025. $8.00 $7.50 $7.00 $6
Slide 12: Performance – Dividend Yield
Performance – Dividend Yield BKI offers an attractive grossed-up dividend yield compared to post tax cash rates. For personal use only BKI Dividend Yield History 9.0% 6.4% 8.0% Grossed-up Dividend Yield* V’s 7.0% 6.0% 6.43% 2.7% Cash Rate Post Tax# 5.0% 4.50% 4.0% 3.85% 3.0% 2.70% 2.0% 1.0% 0.0% BKI
Slide 13: Performance – Dividend Yield
Performance – Dividend Yield The attractive dividend yield of BKI is somewhat offset by its portfolio's modest underperformance to major Australian ETF’s. For personal use only 1 yr 5yr p.a No of Historical Grossed-up Listed Investment Company (LIC) or Active Mgt Total Total Code Index Stocks Divide
Slide 14: Portfolio Positioning
For personal use only Portfolio Positioning Results Presentation For the year ended 30 June 2025
Slide 15: Net Portfolio Movements
Net Portfolio Movements For the year ended 30 June 2025 For personal use only Net Purchases Net Sales Exit Capital Return 15
Slide 16: Portfolio Positioning – Top Holdings
Portfolio Positioning – Top 25 As at 30 June 2025 Stock % of Total Portfolio Stock % of Total Portfolio For personal use only 1 Commonwealth Bank 10.1% 14 Amcor 2.2% 2 National Australia Bank 7.4% 15 Woodside Energy Group 2.2% 3 BHP Group 6.1% 16 Sonic Healthcare 2.1% 4 Wesfarmers Limited 5.1% 17 Go
Slide 17: Portfolio Positioning – Overweight/Underweight
Portfolio Positioning – Overweight/Underweight As at 30 June 2025 BKI’s Overweight Positions Relative to BKI’s Underweight Positions Relative to For personal use only S&P/ASX 300 Index S&P/ASX 300 Index Company BKI Portfolio Active 1 Year Company BKI Portfolio Active 1 Year Weight Weight TSR* Weight
Slide 18: Portfolio Positioning – Overweight/Underweight vs ETFs
Portfolio Positioning – Overweight/Underweight As at 30 June 2025 Overweight/Underweight Positions relative to ETF’s BKI’s top holdings relative to Vanguard Australian Shares Index ETF (VAS-AU) and iShares Core S&P/ASX 200 ETF (IOZ-AU) For personal use only TOP HOLDINGS IOZ-AU VAS-AU BKI-AU COMMENTS
Slide 19: Portfolio Positioning – Active Weight / Exposure
Portfolio Positioning – Active Weight / Exposure As at 30 June 2025 For personal use only BKI Portfolio: Active Weight by Sector BKI Portfolio: Exposure by Sector Cash 4.9% Health Care, 4.4% Industrials 4.0% Cash, 4.9% Consumer Discretionary 3.9% Banks, 17.5% Utilities, 5.0% Communication Services 3
Slide 20: Portfolio Performance
Portfolio Performance For personal use only BKI’s Top 10 Investments and 1 Year Total Shareholder Returns* 1 2 5 BKI Portfolio Weight 4 BKI Portfolio Weight BKI Portfolio Weight BKI Portfolio Weight BKI Portfolio Weight 10.1% 3 6.1% 5.1% 5.0% 7.4% Total Shareholder Return Total Shareholder Return To
Slide 21: Equity Market Overview
For personal use only Equity Market Overview Results Presentation For the year ended 30 June 2025
Slide 22: Interest Rate Environment and Inflation
Equity Market Overview As at 30 June 2025 Interest Rate Environment and Inflation For personal use only Inflation remains the central concern in global economic discussions influencing both policy decisions and market sentiment. Rate cuts are expected and will be a tailwind for domestically focused
Slide 23: Domestic Economic Resilience and Consumer Spending
Equity Market Overview As at 30 June 2025 Domestic Economic Resilience and Consumer Spending For personal use only Australia's economic growth is expected to improve heading into FY2026, supported by lower inflation, rising real wages, income tax cuts and solid government spending. A resilient labor
Slide 24: Global Economic Growth and Geopolitical Landscape
Equity Market Overview As at 30 June 2025 Global Economic Growth and Geopolitical Landscape For personal use only With the backdrop of lower inflation, we believe that the global economy is on a positive upward trajectory. However, there are risks surrounding macroeconomic headwinds including trade
Slide 25: Structural Shifts and Sectoral Rotation
Equity Market Overview As at 30 June 2025 Structural Shifts and Sectoral Rotation For personal use only After a period where technology and financials (especially major banks) have dominated, there continues to be an ongoing shift in investor focus towards quality stocks – focusing on value/cyclical
Slide 26: BKI Investment Company contact details
For personal use only BKI Investment Company info@bkilimited.com.au +61 2 7251 6242 Suite 302, Level 3, 1 Castlereagh Street, Sydney NSW
BKI Investment Company — FY2025 Earnings Presentation on 6ix