Slide 1: Market Announcement: Presentation for Macquarie Australia Conference
Computershare Limited ABN 71 005 485 825 Yarra Falls, 452 Johnston Street Abbotsford Victoria 3067 Australia PO Box 103 Abbotsford Victoria 3067 Australia Telephone 61 3 9415 5000 Facsimile 61 3 9473 2500 For personal use only MARKET ANNOUNCEMENT www.computershare.com Date: Thursday, 7th May 2009 To
Slide 2: Computershare Limited – Macquarie Australia Conference
Computershare Limited For personal use only Stuart Crosby Chief Executive Officer & President Macquarie Australia Conference 7 May 2009 Sydney
Slide 3: About Computershare
About Computershare: For personal use only › Computershare (ASX:CPU) is a global leader in transfer agency and share registration, employee equity plans, proxy solicitation and stakeholder communications. We also specialise in corporate trust services, tax voucher solutions, bankruptcy administratio
Slide 4: About Computershare: Where we operate
About Computershare: Where we operate For personal use only
Slide 5: Historical financials: Strong revenue and EBITDA growth
Historical financials: Strong revenue and EBITDA growth For personal use only 1,800 Revenue & EBITDA 1,600 (USD millions) 1,400 1,200 1,000 800 600 400 200 0 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 Fi n a nc i a l Ye a r Revenue EBITDA
Slide 6: Historical financials: EPS & dividend growth
Historical financials: EPS & dividend growth For personal use only 60 EPS & dividend history 50 (USD cents) 40 30 20 10 0 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 Financial Year EPS Dividend
Slide 7: Historical financials: ROIC vs WACC vs ROE
Historical financials: ROIC vs WACC vs ROE For personal use only 42% 36% 30% 24% 18% 12% 6% FY06 FY07 1H08 FY08 1H09 WACC ROIC ROE
Slide 8: Historical financials: EBITDA margin
Historical financials: EBITDA margin For personal use only 35% 32.7% 30.5% 30% 27.2% 27.9% 25% 22.4% 25.1% 20.4% 20% 18.5% 17.0% 15% 10% 1H 05 2H 05 1H 06 2H 06 1H 07 2H 07 1H 08 2H 08 1H 09
Slide 9: Latest Results: Highlights – 1H09
Latest Results: Highlights – 1H09 For personal use only 1H09 vs 2H 08 vs 1H 08 Management earnings per share 26.14 cents up 8% down 4% Operating revenues $783.0m down 1% down 1% Operating costs $544.1m down 5% up 2% Management EBITDA $238.6m up 8% down 7% EBITDA margin 30.5% + 260bps - 220bps Manage
Slide 10: Latest Results: Regional Analysis – 1H09 Revenue & EBITDA
Latest Results: Regional Analysis – 1H09 Revenue & EBITDA For personal use only Total Revenue Breakdown EBITDA Breakdown 23% 30% 39% 42% 28% 38% Asia Pacific EMEA North America Asia Pacific EMEA North America
Slide 11: Margin Income: Interest rate sensitivity on core balances
Margin Income: Interest rate sensitivity on core balances For personal use only US$m PBT 80 Impact 60 40 20 0 -3.00% -2.50% -2.00% -1.50% -1.00% -0.50% Current 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% -20 -40 -60 Exposure Hedged exposure -80 This graph outlines the sensitivity of northern hemisphere inte
Slide 12: Margin Income: Hedge lifecycles
Margin Income: Hedge lifecycles For personal use only Hedging of client core balances 100% 80% 60% 40% 20% 0% Jun '09 Jun '10 Jun '11 Jun '12 1 13 25 37 Total Hedging
Slide 13: Balance Sheet & Financing: as at December 2008
Balance Sheet & Financing: as at 31 December 2008 For personal use only Variance Variance Dec-08 Jun-08 Dec-08 to Dec-07 Dec-08 to US#039;000s US#039;000s Jun-08 US#039;000s Dec-07 Current Assets 439,046 516,129 (15%) 369,763 19% Non Current Assets 1,754,871 1,721,889 2% 1,520,793 15% Total Assets 2,193,917
Slide 14: Balance Sheet & Financing: Debt facility maturity profile
Balance Sheet & Financing: Debt facility maturity profile and utilisation as at end 1H09 For personal use only US$m 700 600.0 600 Debt Facility Debt Maturity Profile Facility (USD $m) utilised 500 FY09 nil nil 402.7 FY10 200.0 nil 400 FY11 600.0 402.7 FY12 123.0 123.0 300 FY13 nil nil 235.0 235.0 FY
Slide 15: Balance Sheet & Financing: Key servicing metrics
Balance Sheet & Financing: Key servicing metrics For personal use only › EBITDA interest coverage Net Financial Indebtedness to EBITDA times times 14 3.0 12.1 11.9 12 11.5 2.48 10.4 2.5 10 8.7 2.0 1.72 1.68 1.64 8 1.5 6 0.94 1.0 4 2 0.5 0 0.0 FY05 FY06 FY07 FY08 1H09* FY05 FY06 FY07 FY08 1H09* * Rol
Slide 16: Acquisitions: July 2007 onward
Acquisitions: July 2007 onward For personal use only Name Cost (USD m) Country Type of Business Datacare 17.6 Ireland Governance software UMB 8.9 USA Investor Services Administar 33.4 USA Class action administration RSS 14.0 USA Governance software VEM 92.3 Germany Corporate actions bank Four Points
Slide 17: Acquisitions: Commentary
Acquisitions: Commentary For personal use only › Most recent acquisitions have been non-market cyclical (QMT, Busy Bees, Datacare) or counter-cyclical (Administar / KCC). › These have all been comfortably earnings per share accretive on acquisition, with material synergies and/or growth on top. › Ou
Slide 18: Environment: Remains tough
Environment: Remains tough For personal use only › Our strong recurring revenue base offers significant protection, but we are starting to feel the effects of client attrition through takeover, bail-out and insolvency. › Margin income has been hit, but good treasury management and hedges will contin
Slide 19: Our strategic focus: Remains the same
Our strategic focus: Remains the same For personal use only › Continue to drive operations quality and efficiency through measurement, benchmarking and technology. › Improve front office skills to protect and drive revenue. › Continue to seek acquisition and other growth opportunities where we can a