Omni Bridgeway Ltd · ASX:OBL
Omni Bridgeway — IMF — HY2013 Earnings Presentation
11 slides from Omni Bridgeway's earnings presentation, February 2013
Slide 1: Investor Presentation February 2013
INVESTOR PRESENTATION FEBRUARY 2013
Slide 2: Contents
CONTENTS HY2013 Highlights HY2013 Income Balance Sheet Investment Portfolio Possible Completions in the second half of FY2013 Track Record Wivenhoe Dam Claim Structured Finance Ratings Claims Future Outlook 2
Slide 3: HY2013 Highlights
HY2013 HIGHLIGHTS IMF’s HY2013 does not include any income from the Lehmans matter. matter HY2012 HY2013 % Gross Income (from cases) $32.6M $20.6M 37% Net Income (from cases) $19.5M $10.5M 46% NPAT $11.9M $5.6M 53% Interim Dividend (cents per share) Nil Nil - EPS 9.69 4.55 53% Net Asset Backi
Slide 4: HY2013 Income
HY2013 INCOME The following summarises the cases finalised and income generated from cases during the period: Matter Gross Income Net Income LGFS, ABN Amro and Others $16.5M $8.1M Confidential $2.8M $1.9M Others $1.3M $0.5M Total Matter Income $20.6M $10.5M 4
Slide 5: Balance Sheet Strength
BALANCE SHEET STRENGTH Cash Investments¹ Net Assets $ $M $ $M $ $M $70.90 $117.30 $69.18 $74.20 $111.70 $62 40 $62.40 $69.19 $ $66.00 $92.97 $55.01 $59.63 $90.25 $52.31 $87.19 $42.95 HY11 FY11 HY12 FY12 HY13 HY11 FY11 HY12 FY12 HY13 HY11 FY11 HY12 FY12 HY13 ¹ Investments includes capitalised overhea
Slide 6: Investment Portfolio
INVESTMENT PORTFOLIO Est. No % of Possible Possible Possible Claim Value Claim of Total Completion Completion Completion Range Value* Cases Value FY2013 FY2014 FY2015 <$10M $20M 3 1% $5M - $15M $10M - $50M $243M 13 17% $20M $133M $90M >$50M $1,210M 10 82% $150M $630M $430M Total Portfolio $1,473M 26
Slide 7: Possible Completions in the Second Half of FY2013
POSSIBLE COMPLETIONS IN THE SECOND HALF OF FY2013 Matter Description L h Lehmans Reasons ffor JJudgment R d t were given i on 21 SSeptember t b 2012 iin favour of the three representatives in the case funded against Lehman Brothers Australia Ltd (In Liquidation). Orders giving effect to the Reasons
Slide 8: Track Record
TRACK RECORD IMF’s track record to 31 December 2012 NUMBER OF CASES Summary 142 cases commenced and completed since listing. Generated revenue of $1.237B: $815M to Clients; $422M to IMF comprising: ⎯ $140M reimbursement of costs; ⎯ $282M net revenue to IMF (excluding overheads); Gross ROI
Slide 9: Wivenhoe Dam Claim
WIVENHOE DAM CLAIM Feb 2012: IMF announced an investigation into: i. whether the Dam was negligently g g y operated p in January 2011 and, if so; ii. whether funded parties suffered sufficient unnecessary loss to make proceedings against the State of Queensland viable. Jan 2013: IMF confirmed in
Slide 10: Structured Finance Ratings Claims
STRUCTURED FINANCE RATINGS CLAIMS September 2012 Judgment against distributor – Lehman Brothers Australia November 2012 Judgment against ratings agency S&P and ABN Amro (LGFS) November 2012 Filed further claim against S&P and ABN Amro in Australia December 2012 Created Dutch Foundation (Ratings Redr
Slide 11: Future Outlook
FUTURE OUTLOOK Australia Building B ildi ththe iinvestment t t portfolio tf li (Wi (Wivenhoe, h CDO CDOs, others). th ) Competition. Regulation. Taking funding international Expansion into the United States Bentham Capital 3 funded cases to date. Targeted approach. Fundingg of internat