Investec Plc · LSE:INVP
Investec — H2 2024 Earnings Presentation
16 slides from Investec's earnings presentation, Sep 19, 2024
Slide 1: Fund, Trust and Corporate Services H2 2024 Sector Update
Fund, Trust and Corporate Services H2 2024 Sector Update Investec
Slide 2: Introduction
Introduction The structural mega-trends underpinning the sector continue to generate strong levels of growth and corporate activity. Anecdotally, service providers enjoyed good levels of organic growth during 2023, whilst M&A also continued at pace, with over 40 transactions announcing in the last 1
Slide 3: Recent market developments
Recent market developments 3 Investec
Slide 4: Recent market developments
Recent market developments The sector continues to evolve, with third party servicers likely to benefit positively from growing AUM and private wealth, as well as an increasingly complex regulatory landscape Potential impact on Topic Commentary investor appetite • Strong growth in private markets Au
Slide 5: Recent M&A activity
Recent M&A activity There continues to be high levels of activity and interest across the sector, with 40+ M&A transactions over the last 12 months, including 6 new private equity platform investments / / / / / / / / / / / / / / Tricor IAG Fund Administration Group / / / / / / (ManCo business) / / /
Slide 6: JTC’s FY23 results
JTC’s FY23 results An impressive end to JTC’s ‘Galaxy era’ – doubling the size of the business 2 years ahead of plan Highlights EV / NTM EBITDA – last five years • Strong top-line growth of 28.7% and EBITDA margin of 33.4%, achieving its 24.0x Galaxy era growth objective, to double the size of the b
Slide 7: A refresh on the core investment thesis
A refresh on the core investment thesis 7 Investec
Slide 8: Alternative asset servicing
Alternative asset servicing Persistent structural growth drivers are delivering double digit market growth, with service quality and leveraging of technology representing points of differentiation for service providers Persistently high growth Consolidation opportunity Strong fundamental KPIs market
Slide 9: Private client services
Private client services Sustained interest in the private client sector driven by strong fundamentals, despite the ‘background noise’ the industry has experienced over the past decade Ability to achieve above market Consolidation opportunity Strong fundamental KPIs organic growth Annual organic reve
Slide 10: Our latest transaction
Our latest transaction 10 Investec
Slide 11: Investec acted as adviser to Alpha FMC on its acquisition by Bridgepoint
Investec acted as Sole Rule 3 Adviser, Lead Financial Adviser, NOMAD and Joint Corporate Broker to Alpha FMC on its recommended cash acquisition by Bridgepoint Overview of Alpha FMC Overview of transaction • A leading global consultancy to the financial services industry with • Recommended cash offe
Slide 12: Our credentials in the space
Our credentials in the space 12 Investec
Slide 13: Deep experience in the Fund, Trust & Corporate Services sector
Deep experience in the Fund, Trust & Corporate Services sector Investec has a deep understanding and commitment to the sector across its entire banking platform Advised PE Advised PE Investment by ICG Acquisition financing for Advised PE Advised strategic under bidder under bidder M&A under bidder u
Slide 14: Investec’s international M&A business
Investec’s international M&A business UK & Europe US South Africa >130 9 >160 8 M&A professionals European offices M&A professionals US offices Marc Ackerman Head of Corporate Finance India Edward Thomas Managing Director Paras Berawala Managing Director Jan Willem Jonkman Managing Director Thomas E
Slide 15: A full-service bank for the sector
A full-service bank for the sector Our offering spans corporate banking & lending, growth & leveraged finance and M&A advisory Services M&A Advisory, London Trust & Corporates, Jersey +44 (0)20 7597 5109 +44 (0)15 3451 2650 edward.thomas@investec.co.uk ryan.lambotte@investec.com Edward Thomas Ryan L
Slide 16: accompanies it) (together, “this document”) is for general information only and is the property
This document and any attachments (including any e-mail that This document does not take into account the specific investment accompanies it) (together, “this document”) is for general information objectives, financial circumstances or particular needs of any recipient only and is the property of In