Slide 1: Computershare 2019 Annual General Meeting
COMPUTERSHARE 2019 ANNUAL GENERAL MEETING 13 November 2019
Slide 2: Chairman's address
2019 ANNUAL GENERAL MEETING Chairman’s address Simon Jones Chairman 13 November 2019
Slide 3: Executive summary
Executive summary Management results FY19 guidance affirmed Revenue EBITDA EPS $2,411.4m 4.8% $685.9m 10.2% 71.46 cents 12.8% FY19 Management EPS increased by 12.8% with improved performances from all major business lines; margin income gains and a reduced tax rate. Management results are expressed
Slide 4: Long term shareholder returns
Long term shareholder returns Free cash flow Dividend per share $3.4bn generated $1.7bn distributions paid 450 50 400 45 40 350 35 300 30 AUD cents 250 USD m 25 200 20 150 15 100 10 50 5 0 0 FY10 11 12 13 14 15 16 17 18 FY19 FY10 11 12 13 14 15 16 17 18 FY19 Free cash flow excludes SLS advances. 4 N
Slide 5: Corporate Responsibility: Community
Corporate Responsibility Community Raised Raised over AUD 9.3 AUD over AUD million 760,150 AUD 170,000 300,000 to date Our global charity: World Raised for Change A Life Donated to our Trek Nepal Trek Nepal Youth International – Nepal since launch projects in FY19 2018 2019 Focus for FY20 Run anothe
Slide 6: Corporate Responsibility: Sustainability
Corporate Responsibility Sustainability In the 1970s, Computershare pioneered electronic platforms for managing share registers. Forty years later, all our global businesses continue to champion the use of innovative technology to enable our clients to reduce the environmental footprint of their own
Slide 7: CEO's address
2019 ANNUAL GENERAL MEETING CEO’s address Stuart Irving Chief Executive Officer and President 13 November 2019
Slide 8: Enhancing the AGM
Enhancing the AGM Global business presentations Naz Sarkar Stuart Swartz Francis Catterall Nick Oldfield Issuer Services Corporate Trust Employee Share Mortgage Services Plans 8
Slide 9: EBITDA margin/ROE
Quality recurring revenues and consistent high returns 10 year track record: Recurring revenue CAGR 8.4%, EBITDA margin 27.5%*, ROE 26.9%* 3,500 30% 3,000 25% 2,500 2,301 2,357 EBITDA margin/ROE 2,114 2,025 2,023 1,976 1,974 Total Revenue 20% 2,000 1,819 542 529 USD m 1,620 1,619 465 % 567 506 454 4
Slide 10: Key messages
Key messages Designing and investing in long-term growth strategies Enhancing growth engines, improving efficiencies, expanding the moats New global product aligned management structure to position for next growth stage Focus on new product development and evolving customer needs Disciplined executi
Slide 11: FY19 key priorities – execution scorecard
FY19 key priorities – execution scorecard Disciplined execution drives growth and profitability PROGRESS RESULT PROGRESS RESULT 1. INVEST IN 4. TRANSITION THE FUTURE OF TO GLOBAL Shift from regional structure to Equatex acquired, technology OUR PLANS BUSINESS improve customer focus and integration u
Slide 12: FY20 outlook - affirmed
FY20 outlook - affirmed In August, we said that we expect Management EPS for FY20 to be down around 5% in constant currency: outlook affirmed - Operating performance year to date is in line with expectations › Mortgage Services and Employee Share Plans are performing ahead of plan › Corporate action
Slide 13: Issuer Services
2019 ANNUAL GENERAL MEETING Issuer Services Naz Sarkar Global Head of Issuer Services 13 November 2019
Slide 14: The strength of our current Issuer Services business
The strength of our current Issuer Services business Issuer Services has scope for long term growth $316m $1.41bn $190m Estimated total available revenue in chosen markets $158m 50% $37m 20% $951m of an estimated $2.13bn $707m total in chosen Corporate Actions Georgeson markets (45%) Total global Co
Slide 15: High quality earnings and margin improvement
High quality earnings and margin improvement Long-term EBITDA margin 27.3% 2,000 33.7% 35% 31.8% 30.8% 1,800 29.1% 29.1% 28.8% 27.7% 30% 1,600 1,400 23.0% 25% EBITDA margin % 20.7% 1,200 18.7% 20% USD m 1,000 1,079 1,056 1,030 1,024 1,010 982 946 974 951 15% 800 909 600 10% 400 5% 200 317 286 309 32
Slide 16: Large and complementary growth opportunities – leveraging the core
Large and complementary growth opportunities – leveraging the core Adjacent markets estimated to be $3bn+ • New private market wins Private Markets • Continuing to improve our (Addressable offer market* - $1bn) • New dedicated management team Registered Agent • New registered agent wins Services • N
Slide 17: Executing on our plan
Executing on our plan Investing in revitalised front office and product development Building on Significant Market structure Operational Governance new wins changes transformation Services › GEMS – world leading › Prepared for Brexit › New Global Issuer entity management innovation capability in sof
Slide 18: Corporate Trust
2019 ANNUAL GENERAL MEETING Corporate Trust Stuart Swartz Global Head of Business Services 13 November 2019
Slide 19: Corporate Trust
Corporate Trust Introduction Corporate Trust is a federation of products, however, many of these products require similar platforms, processes and knowledge. Registry Maintenance Disbursement and Tax Reporting Debt, exempt market securities, asset backed securities, Principal and interest payments t
Slide 20: Corporate Trust products
Corporate Trust products Debt Trustee Services Trustee Services Securitisation Services A trustee holds or manages cash, assets or a A debt trustee is a financial institution with Securitisation is the financial practice of pooling property title for a beneficiary. Our trustee trust powers, such as
Slide 21: Corporate Trust financial summary
Corporate Trust financial summary Delivering quality revenue growth 120 113 100 105 101 91 89 91 80 81 82 78 CAD m 60 69 40 20 0 FY10 11 12 13 14 15 16 17 18 FY19 21
Slide 22: Corporate Trust growth strategy
Corporate Trust growth strategy Expand, innovate and acquire 1 Global expansion 2 New products and services 3 Inorganic opportunities Expanding geographical footprint of Introducing complementary services Developing and assessing products and services to enable to enable growth of core strengths opp
Slide 23: Employee Share Plans
2019 ANNUAL GENERAL MEETING Employee Share Plans Francis Catterall Global Head of Employee Share Plans 13 November 2019
Slide 24: A strong global franchise
A strong global franchise We are globally recognised experts in Employee Share Plans Leading global franchise that has Regionally structured, repositioning A large and diverse book with significant Equatex performing well high barriers to entry and brings to global model while managing Assets Under
Slide 25: Positioned for growth
Positioned for growth Resilient core revenues with optionality 350 26.5% 30.0% 20.1% 20.1% 18.6% 19.6% 19.6% 16.0% 17.5% 300 20.0% 13.9% 10.9% 16 250 10.0% 42 35 17 17 52 30 200 0.0% USD m 39 150 27 -10.0% 273 15 217 213 212 100 193 204 -20.0% 185 159 130 50 105 -30.0% 0 -40.0% FY10 11 12 13 14 15 1
Slide 26: Growth strategies and execution priorities
Growth strategies and execution priorities Increase revenue per client Grow market share › Increase revenue per client by › Win more clients, leveraging our data, providing additional products and Revenue enhanced toolkit and proven service services - Positive EMEA growth culture - Better retention,
Slide 27: Mortgage Services
2019 ANNUAL GENERAL MEETING Mortgage Services Nick Oldfield Global Head of Mortgage Services 13 November 2019
Slide 28: The mortgage lifecycle
The mortgage lifecycle We support all aspects of the mortgage lifecycle 28
Slide 29: Mortgage Services financial summary
Mortgage Services financial summary US organic growth and UKAR contribution 700 600 615 560 500 497 400 USD m 300 315 248 200 100 124.5 135.1 74.0 30.0 39.4 0 FY15 16 17 18 FY19 Revenue EBITDA 29 Numbers at actual fx rates
Slide 30: US growth plan
US growth plan Continuing to build our portfolio in a steady, disciplined manner Delivery channels Targeting $150bn UPB in FY24 Key initiatives Co-issue expansion At 30 September 2019 the portfolio was as follows: We are building out a capital light servicing model with an investor partner. UPB $bn
Slide 31: Execution priorities
Execution priorities Delivering to plan Grow our US non-servicing revenue lines On track Buoyant origination/re-fi market and strong recovery collections in Q1 Improve our US margins On track Clear improvement over FY19 Restructure UK business On track Beginning to deliver the $50m* of cost-out; $6m
Slide 32: Important notice
Important notice Summary information › This announcement contains summary information about Computershare and its activities current as at the date of this announcement. › This announcement is for information purposes only and is not a prospectus or product disclosure statement, financial product or