Slide 1: Financial Results Six months to December 2003
Financial Results Six months to 341 December 2003 Richard Htemenry A SX managing Director & CEO 25 February 2004 Welcome and thankyou for joining us this morning. | would ask that you save your questions for the end of the presentation, as there will be ample opportunity to address these at that tim
Slide 2: Operating revenue and net profit after tax
Operating revenue Net profil after tax ron epee ori mot arm ene ates S1Z8.010 These graphs demonstrate both the outstanding revenue and profit results of this six-month period, but also the consistent performance of the business across time. With every reported result bar one, across a four year tim
Slide 3: Operating revenue by category 1H04
Operating revenue by category 1H04 7 ™ saveorsee 4 ed ; Satings O sve As we disclosed within our market announcements it has been the listings business, and in particular the unprecedented levels of subsequent capital raisings, which have driven our record result. In comparing the proportion of reve
Slide 4: Capital raisings and listings revenue
the last column shows only a six-month period where each of the previous columns represents a full financial year. You can see that there has been more primary and subsequent capital in the six months than either of the last two financial years. And also note how significantly subsequent capital exc
Slide 5: Earnings (pre goodwill)
Earnings (pre goodwill) ames anos Our earnings continue to grow. Earnings per share have never reached this level during a six-month period. Earnings were 43.0 cents per share on a pre-goodwill amortisation basis. As | mentioned, the Board intend to pay 100% of this financial year’s ordinary profits
Slide 6: Revenue and operating expenses detail
raisings. We have also provided an average annual listing fee and initial listing fee for guidance in the Appendix 4D. —Equities revenue growth has come from trading volumes, but also an average fee per trade, which was higher during 2Q due to corporate activity and therefore an increase in the list
Slide 7: Capital expenditure and depreciation
$3.1 million during the six months, mostly on maintenance work for plant and equipment. Second half likely to be higher with a few initiatives (to which Richard will refer in a moment) either committed to or under consideration. ASX is still aiming to achieve maintenance capital expenditure of less
Slide 8: Equities trading system design study
In November, ASX announced the commencement of a design study to consider the introduction of a new equities trading system to integrate with our existing derivatives Click system provided by OM. That design study is still progressing and we expect to be able to make a decision shortly. The decision
Slide 9: Clearing reform and central counterparty ACH
e Compared to the former situation, where equities and derivatives were cleared through separate clearing houses, FSR paves the way for us to consolidate clearing of all ASX products into a single, separately licensed, central counterparty — the ACH e As central counterparty for all trades on ASX, A
Slide 10: National Guarantee Fund transfer to ACH
That is, the Minister can approve a first transfer payment to ACH - in the order of $73 million - without resolution of the capping issue If capping is then resolved satisfactorily, a second payment in the order of $20 million can later be made We believe we are on track for this whole issue. There
Slide 11: Focus on cash: ASX Perpetual Registrars
Focus on cash fh Revenue Expenses EBITDA BBA (excl. goodly Esir NPAT ASX remains a committed partner in ASX Perpetual Registrars. The business has made significant progress and has experienced strong growth in EBITDA and cash flow during the past two years. Revenue has grown by 12.9% reflecting both
Slide 12: Orient Capital acquisition and new initiatives
add nearly 100,000 new shareholders. There are several other new initiatives pending in coming months that will further strengthen ASX Perpetual’s position. As announced last week, ASX has completed the acquisition of the remaining 50% of Orient Capital. The business is highly profitable and a marke