Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — FY2010 Earnings Presentation
19 slides from Washington H. Soul Pattinson And's earnings presentation, Sep 23, 2010
Slide 1: Review of Operations Year Ended 31 July 2010
For personal use only Review of Operations Year Ended 31 July 2010
Slide 2: Group Performance
Group Performance For personal use only Consolidated Results Year Ended 31 July 2010 Group profit after tax and before non-regular items $182 million – decrease from 2009 high Group profit after tax and non-regular items $218 million Profit on sale of New Saraji last year
Slide 3: Group Performance: Profit After Tax and Outside Equity
Group Performance Profit After Tax and Outside Equity ($M) For personal use only 1,112.7 AGAAP AIFRS 405.7 224.7 218.3 181.6 155.9 130.2 113.1 88.3 96.1 93.9 99.2 90.8 78.7 81.5 86.4 66 72.7 45.8 56.8 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Before non-regular items After non-regular items
Slide 4: WHSP Performance: Total Shareholder Return
WHSP Performance For personal use only Total Shareholder Return Total Return Per Annum 5 Years 10 Years 15 Years Washington H. Soul 10.6% 18.0% 17.5% Pattinson and Company* All Ordinaries Accumulation 5.0% 7.6% 9.4% Index Outperformance 5.6% 10.4% 8.1% * Includes the re-investment of dividends
Slide 5: Dividend Performance (Cents per Share)
Dividend Performance (Cents per Share) For personal use only Final Dividend 20 cents - up 5.3% Special Dividend 12.5 cents 25 12.5 15 15 5 5 5 32 34 28.5 30 4 25 27 20 17 14 11.5 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Ordinary Dividends Special Dividends Total Dividends of 46.5 cents for
Slide 6: WHSP Listed Investment Portfolio (including subsidiaries & associates)
WHSP (Holding Company) For personal use only Listed Investment Portfolio (including subsidiaries & associates) Market value of portfolio $4.1 billion $43 million was invested in associates
Slide 7: WHSP Listed Investment Portfolio (excluding subsidiaries & associates)
WHSP (Holding Company) For personal use only Listed Investment Portfolio (excluding subsidiaries & associates) Market value of portfolio $459 million $68 million was invested in the equity market Proceeds from disposals $4 million Dividend income $19 million (down $1.3m) Interest income in
Slide 8: WHSP Listed Investment Portfolio
WHSP (Holding Company) For personal use only Listed Investment Portfolio Equity market acquisitions included Aust. Pharmaceutical Industries Commonwealth Bank Quickstep Holdings Telstra TPG Telecom Equity market Disposals included Brambles Rio Tinto
Slide 9: Controlled Entities: New Hope Corporation
Controlled Entities New Hope Corporation Limited For personal use only Profit from regular items after tax $184 million, (down 30% from very strong 2009) Last year’s result included the $1.7 billion non-regular profit on sale of the New Saraji Coal Project $111 million contribution to Group pr
Slide 10: Controlled Entities: New Hope Corporation
Controlled Entities New Hope Corporation Limited For personal use only Final dividend of 4.5 cents fully franked (to be paid 9 November 2010) Special dividend of 14 cents fully franked (to be paid 9 November 2010) Total dividends of 23.5 cents fully franked for the year
Slide 11: Controlled Entities: New Hope Corporation
Controlled Entities New Hope Corporation Limited For personal use only Coal production up 15.2% to 5.9 million tonnes Sales volume up 18.3% to 5.9 million tonnes Export sales volume up 26.2% (but at lower US$ prices with higher A$ forex) Higher domestic sales prices (but on reduced volume)
Slide 12: New Hope: Queensland Bulk Handling and Port Expansion
Controlled Entities New Hope Corporation Limited For personal use only Queensland Bulk Handling Throughput up 9% on last year to a record 6.7 million tonnes Port Expansion Increase throughput to 10 million tonnes PA Continuing on schedule for completion in late 2010
Slide 13: New Hope: Arrow Energy Investment and Coal to Synfuels
Controlled Entities New Hope Corporation Limited For personal use only Arrow Energy investment Sold for $576 million + Dart shares After tax profit in FY 2011 of $326 million Coal to Synfuels 25% equity in licensed coal liquefaction technology Right to acquire up to 51% equity
Slide 14: Associated Entities: Australian Pharmaceutical Industries
Associated Entities Australian Pharmaceutical Industries For personal use only Half Year ended 28 February 2010 - Sales Revenue $1.85 billion (up 6.7% on 1st half 2009) - Profit after tax $10.3 million (up 54.5% on 1st half 2009) Contributed $5.5 million to WHSP Group Profit (up 41.0% on 2009)
Slide 15: Associated Entities: Brickworks
Associated Entities Brickworks Limited For personal use only Profit from regular items after tax $110 million (down 3.1% on 2009) Profit after tax and non-regular items $139 million (down 54.5% on 2009) (results include equity accounted contribution from WHSP) Borrowing costs reduced to $24.5
Slide 16: Associated Entities: Clover Corporation
Associated Entities Clover Corporation Limited For personal use only Year Ended 30 June 2010 Sales up 65.4% to $35.9 million Profit from regular items before tax and before impact of JV was $7.3 million up 48.8% Loss after non-regular items and tax was $0.97 million, (impacted by JV loss and i
Slide 17: Associated Entities: Ruralco Holdings
Associated Entities Ruralco Holdings Limited For personal use only Half Year Ended 31 March 2010 Sales $429.9 million, up 4% Profit after tax $7.8 million, up 23% Interim Dividend 8 cents fully franked, up 2 cents Contributed $2.7 million to Group Profit, up from $2.6 million
Slide 18: Associated Entities: TPG Telecom Limited
Associated Entities TPG Telecom Limited (formerly SP Telemedia) For personal use only Profit after tax of $55.7 million, up 216% EBITDA of $171.1 million, up 41% Generated net cash of $189 million (before interest, tax and capex) Fully franked final dividend of 2 cents, up 1 cent Contribut
Slide 19: Washington H. Soul Pattinson: A Diversified Investment House
Washington H. Soul Pattinson and Company Limited For personal use only “A Diversified Investment House” WHSP – Investments & Share Portfolio API – Wholesale & Retail Pharmaceuticals Brickworks – Brick & Tile Manufacturing Clover – Food Technology New Hope – Coal PCP – Corporate Advisory Ruralco – Ru
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