Slide 1: ASX Limited - 2011 Full-Year Results
For personal use only ASX Limited - 2011 Full-Year Results Robert Elstone, Managing Director and CEO Peter Hiom, Deputy CEO Ramy Aziz, Chief Financial Officer 18 August 2011
Slide 2: Disclaimer
For personal use only Disclaimer The material contained in this document is a presentation of general information about the ASX Group’s activities current as at the date of this presentation (18 August 2011). It is provided in summary and does not purport to be complete. You should not rely upon it
Slide 3: Important Notes
For personal use only Important Notes The financial statistics, including comparables, in this report are based on the ASX Group’s pro-forma income statement which itself is not audited, but is based upon audited accounts. There have been no material changes to accounting policies during the period.
Slide 4: Agenda
For personal use only Agenda • Introduction Robert Elstone • Business Highlights and Initiatives Peter Hiom • Financial Results Summary Ramy Aziz • Post-Balance Date Activity Robert Elstone • Questions
Slide 5: Introduction
For personal use only Introduction Robert Elstone Managing Director and CEO
Slide 6: Financial Highlights FY11
Financial Highlights FY11 For personal use only • Underlying net profit after tax (NPAT) of $356.6 million, up 7.2% (statutory NPAT of $352.3 million, up 7.4%) • Operating revenue excluding interest and dividends of $617.6 million, up 5.0% • Cash operating expenses of $135.5 million, up 1.0% • Under
Slide 7: Financial Highlights FY11
For personal use only Financial Highlights FY11 • A comprehensive Annual Report has been released today, including statutory reports. This presentation provides a high level overview of the result • Strong financial, operational and compliance performance by the ASX Group during a period of mixed ec
Slide 8: Business Highlights and Initiatives
For personal use only Business Highlights and Initiatives Peter Hiom Deputy CEO
Slide 9: ASX Business Model Evolution
For personal use only ASX Business Model Evolution • From – Bundled service offerings (fees models and rebates, functionality) – Predominantly transactional business model – History of innovation • To – Fee unbundling and different fee models – Tailored service offering – Expanded service offering,
Slide 10: Listings and Issuer Services
For personal use only Listings and Issuer Services • Progress in expanding service offerings – New investor relations (IR) services delivered to issuers – Further refinement of proposals to improve reporting regime for mining, oil and gas, and geothermal companies • Looking forward – Further expansi
Slide 11: Trade Execution Services
For personal use only Trade Execution Services • Progress in expanding offerings – ASX Net implemented for ASX Trade24 and to provide access to Chi-X – Fidessa announced as provider of ASX Best – Re-structuring of market data offering completed – Construction of the new data centre facility progress
Slide 12: CCP and Post-Trade Services
For personal use only CCP and Post-Trade Services • Developments in CCP and post-trade services – Chi-X have signed a 5-year agreement with ASX for the provision of the trade acceptance service – Council of Financial Regulators consults on domestic clearing of OTC interest rate swaps • Looking forwa
Slide 13: Financial Results Summary
For personal use only Financial Results Summary Ramy Aziz Chief Financial Officer
Slide 14: Financial Performance – Income Statement
Financial Performance – Income Statement For personal use only Variance FY11 FY10 Favourable / (Unfavourable) $ Million $ Million $ Million % Operating Revenue 617.6 588.2 29.4 5.0% Cash Operating Expenses 135.5 134.2 (1.3) (1.0%) EBITDA 482.1 454.0 28.1 6.2% Depreciation and Amortisation 23.3 18.9
Slide 15: Financial Performance - EBITDA
For personal use only Financial Performance - EBITDA EBITDA (excluding significant items) FY07 to FY11 540 GROWTH GFC REBOUND 500 478 482 460 454 $ Million 420 414 400 380 340 300 FY07 FY08 FY09 FY10 FY11 EBITDA 15
Slide 16: Revenue Highlights FY11
For personal use only Revenue Highlights FY11 FY11 Revenue $150.3m $133.9m $172.2m $70.9m $40.4m $33.8m $16.1m $617.6m Change 3% 3% 11% 17% 3% 35% 8% 18% 5% From FY10 (pcp) Listings and Cash Derivatives Information Technical Austraclear Other Total Issuer Services Market Services Services Revenue -
Slide 17: Revenue Highlights FY11
For personal use only Revenue Highlights FY11 Listings and Cash Market Revenue Derivatives Revenue Issuer Services Revenue 160 160 180 140 140 160 120 140 120 100 120 100 $ M illion $ Million $ Million 100 80 80 80 60 60 60 40 40 40 20 20 20 0 0 0 FY10 FY11 FY10 FY11 FY10 FY11 Post-Trade Registry Se
Slide 18: Financial Performance – Expenses
For personal use only Financial Performance – Expenses Expenses FY11 FY10 Variance Favourable / (Unfavourable) $ Million $ Million $ Million % Staff 78.8 77.7 (1.1) (1.4%) Occupancy 13.6 13.9 0.3 2.3% Equipment 21.3 22.2 0.9 3.9% Administration 13.9 15.2 1.3 8.3% Variable 4.5 5.2 0.7 13.2% ASIC Supe
Slide 19: Interest and Dividend Income
For personal use only Interest and Dividend Income • Significant increase in interest income attributable FY11 FY10 to higher own-cash reserves $ Million $ Million and higher average short- Interest Income term cash rates ASX Group (excluding ASXCC Group) 12.9 5.6 ASXCC Group 7.9 7.2 • Average cash
Slide 20: Dividends Paid to Shareholders
For personal use only Dividends Paid to Shareholders • Dividend – 90% of underlying NPAT, fully franked • FY11 dividends – 183.2 cps • Dividend Reinvestment Plan not activated for FY11 dividend 250.0 Capital Return Final Dividend 200.0 Interim Dividend 58.5 Cents per Share 150.0 93.9 84.0 93.0 74.5
Slide 21: Balance Sheet
For personal use only Balance Sheet Variance 30 June 11 30 June 10 Favourable / (Unfavourable) $ Million $ Million $ Million % Cash and Available-For-Sale Financial 3,318.6 3,716.8 (398.2) (10.7%) Assets Goodwill 2,262.8 2,262.8 - - Other Assets 601.1 641.2 (40.1) (6.3%) Total Assets 6,182.5 6,620.8
Slide 22: Capital and Liquidity Position
For personal use only Capital and Liquidity Position ASX Group Equity ASX Group Cash Net Tangible Equity v Risk-Based Capital ASX Own Cash v Cash-Backed Requirements Attribution 900 900 800 800 700 700 600 600 $ Million $ Million 500 500 400 400 300 300 200 200 100 100 0 0 FY10 FY11 FY10 FY11 30 Jun
Slide 23: Post-Balance Date Activity
For personal use only Post-Balance Date Activity Robert Elstone Managing Director and CEO
Slide 24: Post-Balance Date Activity
For personal use only Post-Balance Date Activity Post-balance date period eventful at home and abroad Offshore • European public debt refinancing pressures intensifying • US debt ceiling aftermath leading to downward growth revisions for the US economy • Foreign index movements since 30 June: S&P 50
Slide 25: Post-Balance Date Activity
For personal use only Post-Balance Date Activity • Activity levels for 1 July 2011 to 16 August 2011 – Cash markets average daily traded value $5.7 billion (up 20.5% on same period last year) – ASX 24 derivatives average daily volume 521,298 contracts (up 85.7%) – ASX derivatives average daily volum
Slide 26: Questions
For personal use only Questions Questions
Slide 27: ASX Limited - 2011 Full-Year Results
For personal use only ASX Limited - 2011 Full-Year Results Robert Elstone, Managing Director and CEO Peter Hiom, Deputy CEO Ramy Aziz, Chief Financial Officer 18 August 2011