24 slides from Fiera Capital Corporation Class A's earnings presentation, Nov 10, 2016
Slide 1: 2016 Q3 Results
NOVEMBER 10, 2016 2016 Q3 Results SYLVAIN BROSSEAU, Global President & COO JOHN VALENTINI, Executive VP & CFO
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The accompanying Investor Presentation contains forward-looking information, including future-oriented financial information and financial outlooks within the meaning of Canadian securities laws and regulations. Forward-looking information may include com
Slide 3: Overview
Overview AUM increased to $112.5 billion, up more than $3 billion from June 30, 2016 $1.3 billion in new AUM added in the quarter Closing of transactions with Aquila Infrastructure Management and Larch Lane Advisors LLC Offer to acquire Charlemagne Capital Limited, a London-based, independent asset
Slide 4: Overview: Strategic Rationale – Charlemagne Capital
Overview STRATEGIC RATIONALE – CHARLEMAGNE CAPITAL Creates a European growth platform Entry into emerging and frontier markets Provides exceptional cross selling opportunities Execute on pre-established growth plan Creates shareholder value 4
Slide 5: Overview: Private Alternative Investment Strategies
Overview PRIVATE ALTERNATIVE INVESTMENT STRATEGIES Centria Commerce Inc. Agriculture Private Lending Private Equity 5
Slide 6: Overview: Strategic Rationale – Centria Commerce Inc.
Overview STRATEGIC RATIONALE – CENTRIA COMMERCE INC. Complementary solutions Increases fee revenue Leverages Fiera Capital’s institutional relationships Provides industry exposure Creates shareholder value 6
Slide 7: Quarterly Financial Highlights
Quarterly Financial Highlights AUM of $112.5 billion, up 27% year-over-year Base management fees and other revenues of $81.9 million, up 36% from Q3-2015 Adjusted EBITDA1 of $25.9 million, up 39% from Q3-2015 Adjusted EBITDA per share of $0.33, compared to $0.27 in Q3-2015 Adjusted net earnings2 of
Slide 8: Financial Highlights: Quarter-over-Quarter
Financial Highlights: Quarter-over-Quarter Q3-2016 Q2-2016 Variation $ $ Total AUM 112.5B 109.1B 3% Total Revenues 81.9M 75.0M 9% Base Management Fees 80.4M 68.8M 17% Total Performance Fees 0.0M 2.3M -100% Other Revenues 1.5M 3.9M -62% Adjusted EBITDA1 25.9M 23.5M 10% Net Earnings 0.4M 7.9M -95% Att
Slide 9: Financial Highlights: Year-over-Year
Financial Highlights: Year-over-Year Q3-2016 Q3-2015 Variation $ $ Total AUM 112.5B 88.8B 27% Total Revenues 81.9M 60.2M 36% Base Management Fees 80.4M 57.8M 39% Total Performance Fees 0.0M -0.1M -100% Other Revenues 1.5M 2.6M -42% Adjusted EBITDA1 25.9M 18.6M 39% Net Earnings 0.4M 6.7M -94% Attribu
Slide 10: Revenue Trend – Quarterly & Last Twelve Months
Revenue Trend – Quarterly & Last Twelve Months 10
Slide 11: Adjusted EBITDA ($) & Margin (%) Trend
Adjusted EBITDA ($) & Margin (%) Trend Year-over-Year 1: Adjusted EBITDA excludes non-cash compensation, acquisition and restructuring-related costs. 11
Slide 12: Average BPS Evolution vs AUM
Average BPS Evolution vs AUM 12
Slide 13: Rolling LTM Adjusted EBITDA ($) & Margin (%) Trend
Rolling LTM Adjusted EBITDA ($) & Margin (%) Trend 1: Adjusted EBITDA excludes non-cash compensation, acquisition and restructuring-related costs. 13
Slide 14: Rolling LTM Adjusted Net Earnings Per Share & Dividends
Rolling LTM Adjusted Net Earnings Per Share & Dividends 1: Adjusted net earnings per share excludes non-recurring and non-cash items (as reported). 14
Slide 15: Revenue & AUM Breakdown – by Geography
Revenue & AUM Breakdown – by Geography Revenues Q3-2016 AUM as of September 30, 2016 15
Slide 16: Investment Performance (September 30, 2016)
Investment Performance (September 30, 2016) Traditional Strategies – Fixed Income Annualized Rates of Return 5 YEARS OR INCEPTION BENCHMARK 1 YEAR SINCE INCEPTION YEAR NAME Return Added Value Return Added Value (%) (%) (%) (%) Active Fixed Income Universe 6.48 0.17 4.51 0.13 1997 FTSE TMX Universe T
Slide 17: Investment Performance (September 30, 2016)
Investment Performance (September 30, 2016) Traditional Strategies – Equity Annualized Rates of Return 5 YEARS OR INCEPTION BENCHMARK 1 YEAR SINCE INCEPTION YEAR NAME S&P/TSX Composite Canadian Equity Growth 11.62 -2.59 10.31 2.26 2007 Capped Canadian Equity Core 13.63 -0.58 10.02 1.96 1992 S&P/TSX
Slide 18: Investment Performance (September 30, 2016)
Investment Performance (September 30, 2016) Alternative Strategies and Others Annualized Rates of Return 5 YEARS OR INCEPTION BENCHMARK 1 YEAR SINCE INCEPTION* YEAR NAME Return Added Value Return Added Value (%) (%) (%) (%) ALTERNATIVE North American Market Neutral 5.64 5.19 6.41 5.59 2007 FTSE TMX
Slide 19: Outlook
Outlook Strong pipeline of opportunities Growth plan based on organic growth and strategic acquisitions On track to reach $200 billion in assets under management by 2020 Integrate recent acquisitions Leverage cross-selling opportunities across Fiera Capital’s businesses Continue to grow beyond our b
Slide 20: Outlook – Organic Growth
Outlook – Organic Growth Actively investing in our capacity to grow organically Investing in the full integration of our US platforms (Apex, Samson, Wilkinson) Opening of San Francisco office to develop the private wealth business Launch of new retail products (e.g. UTF) New strategies to broaden ou
Slide 21: Question Period
<> FIERACAPITAL Question Period renee Dul: 1248 21
Slide 22: Daniel Richard
Daniel Richard Vice President, Corporate Communications and Investor Relations Fiera Capital drichard@fieracapital.com T 514 954-6456 22
Slide 23: Thank You
<> FIERACAPITAL Thank You renee Dul: 1248 23
Slide 24: fieracapital.com
fieracapital.com