Omni Bridgeway Ltd · ASX:OBL

Omni Bridgeway — FY2013 Earnings Presentation

14 slides from Omni Bridgeway's earnings presentation, August 2013

  1. Slide 1: Investor Presentation August 2013

    INVESTOR PRESENTATION AUGUST 2013

  2. Slide 2: Contents

    CONTENTS  FY2013 Highlights  FY2013 Income  Balance Sheet  Dividend Historyy  Investment Portfolio  Investment Portfolio History  Possible Completions FY2014  Lehman Australia  Wivenhoe h Dam  Track Record  Future Outlook 2

  3. Slide 3: FY2013 Highlights

    FY2013 HIGHLIGHTS FY2013 FY2012 % Gross Income (from cases) $43.9M $117.8M  63 % Net Income (from cases) $23.8M $70.5M 66 % NPBT $20.1M $61.4M 67% NPAT $13.8M $43.0M  68% Dividend (cents per share) 5.0 Franked 10.0 Franked  5.0 cps EPS 11.21 34.87  68% Net Asset Backing $1.02 $0.91  12% Value

  4. Slide 4: FY2013 Income

    FY2013 INCOME FY2013 matter income came from the following cases: Matter Gross Income Net Income LGFS $17.4M $8.8M Lehman Australia $11 0M $11.0M $7 7M $7.7M Confidential USA Matter $5.1M $2.3M Confidential Australian Matter $2.8M $1.9M Collyer Bristow $1.8M $1.6M Uniloc $4.0M $1.5M Oth Others $1 8M

  5. Slide 5: Balance Sheet Strength

    BALANCE SHEET STRENGTH Cash Investments1 Net Assets $M $M $M $70.00 $125.50 $86.00 $62.40 $111.70 $61.24 $55.01 $66.00 $87.19 $59.63 $42.99 $72.54 $64.78 $40.49 $ $32.28 FY09 FY10 FY11 FY12 FY13 FY09 FY10 FY11 FY12 FY13 FY09 FY10 FY11 FY12 FY13 ¹ Investments includes capitalised overheads relating t

  6. Slide 6: Dividend History

    DIVIDEND HISTORY Average of 10 cents per share paid to shareholders over the last 5 years years, all fully franked: Date Cents per share FY2009 15 Fully franked FY2010 5 F ll franked Fully FY2011 15 Fully franked FY2012 10 F ll ffranked Fully k d FY2013* 5 Fully franked * Announced 21 August 2013 ‐

  7. Slide 7: Investment Portfolio

    INVESTMENT PORTFOLIO % of Possible Possible Possible Claim Value Est. Claim Est No Total Completion Completion Completion Range Value* of Cases Value FY2014 FY2015 FY2016 <$10M $20M 4 1% $5M $15M ‐ $10M ‐ $50M $300M 14 18% $125M $145M $30M >$50M $1,315M 11 81% $635M $580M $100M Total Portfolio $1,63

  8. Slide 8: Investment Portfolio History

    INVESTMENT PORTFOLIO HISTORY IMF has exceeded its expectation of generating income of 15% of the claim value included in the investment portfolio. Matters Completed in the Financial year FY2009 FY2010 FY2011 FY2012 FY2013 Claim value included in the investment portfolio $437M $247M $339M $564M $243M

  9. Slide 9: Possible Completions FY2014

    POSSIBLE COMPLETIONS FY2014 Matter Description Lehman Australia See separate slide Bank of Queensland The case against Bank of Queensland franchisees in New South Wales for alleged misleading and deceptive conduct, primarily concerning business that could or would be generated by the franchisees, is

  10. Slide 10: Possible Completions FY2014

    POSSIBLE COMPLETIONS FY2014 Matter Description Retail Adventures The claims relate to allegations of insolvent trading by Retail Adventures Pty Ltd (Administrators Appointed) and the enforceability of securities held by companies associated with Jan Cameron. Confidential Settled on 20 August 2013. O

  11. Slide 11: Lehman Australia

    LEHMAN AUSTRALIA  IMF is funding 85 clients with claims against Lehman Brothers Australia Ltd (“Lehman Australia”).  Judgment in class action on common issues and claims of three representatives delivered on 21 September 2012 – claims wholly successful.  Lehman Australia have lodged an appeal. 

  12. Slide 12: Wivenhoe Dam Claim

    WIVENHOE DAM CLAIM Feb 2012:  IMF announced an investigation into: i. whether the Dam was negligently g g y operated p in Januaryy 2011 and, if so; ii. whether funded parties suffered sufficient unnecessary loss to make proceedings against the State of Queensland viable. Jan 2013:  IMF confirmed i

  13. Slide 13: Track Record

    TRACK RECORD IMF has commenced and completed 149 cases since listing with an average investment of 2.3 years.  Generated revenue of $1.278B:  $849M $ to Clients; l  $429M to IMF comprising: ‾ $148M reimbursement of costs; ‾ $281M net revenue to IMF (excluding overheads);  Gross ROI of 290%.  Lo

  14. Slide 14: Future Outlook

    FUTURE OUTLOOK Australia  Building the investment portfolio (Wivenhoe (Wivenhoe, Brisconnections, Brisconnections CDOs, others).  Competition.  Regulation. Regulation Taking funding international  Expansion into the United States  First completion in FY2013.  Bentham Capital 6 funded cases to

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