Cvc Limited · ASX:CVC
Cvc — Ord Minnett Financial Services Conference (May 2008)
13 slides from Cvc's conference presentation, May 26, 2008
Slide 1: Presentation to Ord Minnett Financial Services Conference
For personal use only Presentation to Ord Minnett Financial Services Conference v “Steady as she goes” CVC Limited May 2008
Slide 2: Who is CVC Limited?
For personal use only Who is CVC Limited? • Diversified investment group with $290m assets under management* (ASX:CVC) • Medium to long term investment focus 2 • Activist investment style CVC Limited: Ord Minnett Financial Services Conference • Portfolio includes - cornerstone stakes in listed compa
Slide 3: Overview of 2007 Result
For personal use only Overview of 2007 Result Full Year Full Year Full Year Six Months 2005 2006 2007 2008 NPAT $23.97m $23.31m $30.76m $11m 3 EPS (Diluted) 20.7c 19.0c 23.7c 6.51c CVC Limited: Ord Minnett Financial Services Conference DPS 5.0c 6.0c 15.0c 3.0 ROA 20.3% 17.1% 21.4% 3.2% ROE 28.0% 20.
Slide 4: CVC Group of Companies
For personal use only CVC GROUP OF COMPANIES CVC Limited ASX:CVC Market cap $188m Cash at Bank $55m 4 CVC Limited: Ord Minnett Financial Services Conference Listed Investments Private Equity Direct Property Funds CVC Capital Investments Management Markets 6 Cornerstone Private 3 Developments 4 Satel
Slide 5: Listed investments
For personal use only Listed investments • 20 – 25 ASX stocks • Market capitalisation $188m (22/5/08) 5 • Major/cornerstone holdings representing 80% of total portfolio CVC Limited: Ord Minnett Financial Services Conference Sunland (SDG) $90m Pro-Pac Packaging (PPG) $11m Blue Energy (BUL) $30m Tri O
Slide 6: Private equity
For personal use only Private equity • $35m total portfolio • “Hands on” management – Ron Finemore Transport, Green’s Foods 6 • Board representation CVC Limited: Ord Minnett Financial Services Conference • More opportunities emerging
Slide 7: Direct property
For personal use only Direct property • Currently realising 3 developments - Geelong – Bulky Goods 7 - Wagga – Bulky Goods - Shepparton – Bulky Goods CVC Limited: Ord Minnett Financial Services Conference • Relationship with Sakkara on track • Several property finance deals under evaluation
Slide 8: Funds management
For personal use only Funds management • Total funds under management of approximately $40m • Establishment of Concise Asset Management 8 • 4 vehicles: CVC Limited: Ord Minnett Financial Services Conference CVC Trinity Property Fund (listed property trust, ASX:CJT) CVC Sustainable Investments Limite
Slide 9: CVC Capital Markets
For personal use only CVC Capital Markets • Financing and M&A activity – arranger/adviser • Work initially with existing CVC companies 9 CVC Limited: Ord Minnett Financial Services Conference • Use CVC balance sheet to underwrite deals • Several opportunities under evaluation
Slide 10: 2008 – "Steady as she goes"
For personal use only 2008 – “Steady as she goes” Current NTA (22/5/08) $1.75 per share Current Market Price $1.05 per share 10 CVC Limited: Ord Minnett Financial Services Conference Total Anticipated Dividend (2008) 6 cents Yield 6% fully franked Cash at Bank $55m Borrowings Nil
Slide 11: 2008 – "Steady as she goes"
For personal use only 2008 – “Steady as she goes” • Profits reliant on timing of asset sales • Funds management (recurring income) disappointing 11 CVC Limited: Ord Minnett Financial Services Conference • Major investment – CSM sector through Blue Energy - $22m • Cash position equal to start of year
Slide 12: Conclusion
For personal use only Conclusion • Patient investment approach maintained 12 • Founders active and “still in the game” financially CVC Limited: Ord Minnett Financial Services Conference • New opportunities emerging at increased pace • Cash up / no gearing Æ “STEADY AS SHE GOES”
Slide 13: Presentation to Ord Minnett Financial Services Conference
For personal use only Presentation to Ord Minnett Financial Services Conference v “Steady as she goes” CVC Limited May 2008
CVC — Ord Minnett Financial Services Conference (May 2008) on 6ix