Hansard Global Plc · LSE:HSD
Hansard Global — H1 2018/19 Earnings Presentation
19 slides from Hansard Global's earnings presentation, 2019
Slide 1: Half Year Results 2018/19
JF HALF YEAR RESULTS HANSARD GLOBAL PLC 2018/19
Slide 2: Disclaimer
This presentation does not constitute an invitation to subscribe for or otherwise to acquire or dispose of shares in Hansard Global plc. This presentation may contain forward-looking statements with respect to certain of the plans and current goals and expectations relating to the future financial c
Slide 3: Agenda
AG E N DA Introduction Our Business H1 Results New Summary & Overview Strategy 2018/2019 Business
Slide 4: A Period of Strategic Transition
A P E R I O D O F S T R AT E G I C TRANSITION Assets under New Business of IFRS profit Administration £74m PVNBP of £3.0m of £976m (H1 2018: 77m) (H1 2018: £3.5m) (30/06/18: £1.04bn) UAE strategic alliance Hansard Worldwide Interim dividend of delivering significant subsidiary launched 1.8p per shar
Slide 5: Our Business Strategy
Introduction Our Business H1 Results New Summary & Overview Strategy 2018/2019 Business 3
Slide 6: Implementing Our Growth Strategy
IMPLEMENTING OUR G RO W T H S T R AT E G Y short medium long term within 12 months term 12-24 months term 24+months • Japanese proposition to be launched • Roll out across multiple distribution • Roll-out of new Group insurance partners • Cost efficiency target of £2.5m p.a. from company in the Baha
Slide 7: H1 Results
Introduction Our Business H1 Results New Summary & Overview Strategy 2018/2019 Business 5
Slide 8: Results – H1 2018/19 Summary Results
R E S U LT S – H 1 2 0 1 8 / 1 9 Summary Results H1 2019 H1 2018 New business sales – PVNBP £74.1m £77.0m IFRS profit after tax £3.0m £3.5m Operating cash surplus £9.3m £8.3m Assets Under Administration £976m £1,087m 1 2 Value of In-Force £134.5m £143.9m Interim dividend per share 1.8p 1.8p 1. Regul
Slide 9: Results – New Business
R E S U LT S – H 1 2 0 1 8 / 1 9 New Business H1 2019 H1 2018 Regular premiums 37.4 37.9 Single premium 36.7 39.1 PVNBP 74.1 77.0 Annual Premium Equivalent (“APE”) 11.8 12.1 New Business Margin (PVNBP basis) (0.4%) 0.1% 7
Slide 10: Results – Assets under Administration year trend
R E S U LT S – H 1 2 0 1 8 / 1 9 Assets under Administration 5 year trend 1000 800 927 827 866 General pull-back in global markets in H1 600 701 AuA £M 682 2019. 400 HE in run-off. 200 223 174 174 160 0 110 2015 2016 2017 2018 2019 Year HI HE 8
Slide 11: Results – Cash Flows
R E S U LT S – H 1 2 0 1 8 / 1 9 Cash Flows Operating cash surplus in period to 31 Dec (£m) H1 2019 H1 2018 16.0 14.0 Operating cash surplus 9.3 8.3 12.0 9.3 10.0 Interest and other income 0.6 0.5 8.0 6.0 Cash inflow 9.9 8.8 4.0 2.0 Investment in new business (8.5) (9.1) 0.0 Capital expenditure (0.8
Slide 12: Results – Available Cash
R E S U LT S – H 1 2 0 1 8 / 1 9 Available Cash Shareholder cash at 31 December (£m) H1 2019 H1 2018 90 80 63.5 70 Total Group cash and deposit balances 63.5 66.2 60 50 Net shareholder payables (1.9) (1.1) 40 30 Policyholder claims payable (21.6) (23.8) 20 10 40.0 41.3 0 Net assets restricted within
Slide 13: IFRS - Abridged income statement
R E S U LT S – H 1 2 0 1 8 / 1 9 IFRS - Abridged income statement H1 2019 H1 2018 Fees and commissions - Hansard International 20.7 20.8 - Hansard Europe 2.0 2.4 Fee income reduced as HE continues to run-off. 22.7 23.2 Investment and other income 1.4 0.5 24.1 23.7 Administrative expenses increased p
Slide 14: IFRS - Abridged balance sheet
R E S U LT S – H 1 2 0 1 8 / 1 9 IFRS - Abridged balance sheet H1 2019 H1 2018 Deferred origination costs 115.4 113.3 Other assets 11.4 10.5 Shareholder cash and bank deposits 63.5 66.2 Total assets 190.3 190.0 Deferred income 131.9 129.3 Other payables 30.5 32.7 162.4 162.0 Net assets 27.9 28.0 Sha
Slide 15: New Business
Introduction Our Business H1 Results New Summary & Overview Strategy 2018/2019 Business 13
Slide 16: Building New Business Momentum
BUILDING NEW BUSINESS MOMENTUM Middle East & Africa continued to deliver more high quality business through our locally licensed partner in the UAE. H1 PVNBP Repositioning towards locally licensed business in the Far East reduced regular premium new business in that region Latin American new busines
Slide 17: UAE Building Momentum
UAE BUILDING MOMENTUM • New Business YTD H1 2019 up 154% • Reputation growing rapidly in the UAE • Online New Business approach is highly valued by distributors • Relationship with our strategic partner is going extremely well 15
Slide 18: Summary
Introduction Our Business H2 Results New Summary & Overview Strategy 2018/2019 Business 16
Slide 19: Summary
S U M M A RY IFRS Higher litigation defence IFRS profit of £3.0m costs, but trend of rulings Strong growth with locally- (2018: £3.5m) remains positive for licensed UAE distribution ultimate resolution 1.8 Upgrading systems to Optimistic on Japanese licensing achieve significant cost Level dividend