Invesco Ltd · NYSE:IVZ

Invesco — Amvescap — Q1 2005 Earnings Presentation

14 slides from Invesco's earnings presentation, Apr 26, 2005

  1. Slide 1: 2005 First Quarter Results

    AMVESCAP Helping people worldwide build their financial security 2005 First Quarter Results Charles W. Brady, Executive Chairman Phil Taylor, CEO, AIM Trimark James Robertson, Chief Financial Officer April 26, 2005

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements This presentation may include statements that constitute "forward-looking statements" under the United States securities laws. Forward-looking statements include information concerning possible or assumed future results of our operations, earnings, liquidity, cash flow and

  3. Slide 3: Financial Review

    AMVESCAP Financial Review

  4. Slide 4: Summary Profit & Loss Account

    Summary Profit & Loss Account in thousands Three Months Ended March 31, 2005 2004 Revenues £ 285,984 £ 288,284 Operating expenses (217,158) (214,043) Operating profit 68,826 74,241 Investment income 1,408 9,045 Interest expense (11,159) (9,698) Profit before taxation 59,075 73,588 Taxation (21,110)

  5. Slide 5: Quarterly Financial Comparisons

    Quarterly Financial Comparisons in thousands 2005 2004 Q1 Q1 % change Revenues £ 285,984 £ 288,284 (0.8)% Operating expenses 217,158 214,043 1.5% Operating profit 68,826 74,241 (7.3)% Operating margin 24.1% 25.8% EBITDA 88,768 100,774 (11.9)% EPS - diluted 4.7p 5.9p (20.3)% EBITDA per share - dilute

  6. Slide 6: Quarterly Financial Comparisons

    Quarterly Financial Comparisons in thousands 2005 2004 Q1 Q4 % change Revenues £ 285,984 £ 300,457 (4.8)% Operating expenses 217,158 226,909 (4.3)% Operating profit 68,826 73,548 (6.4)% Operating margin 24.1% 24.5% EBITDA 88,768 96,324 (7.8)% EPS - diluted 4.7p 5.1p (7.8)% EBITDA per share - diluted

  7. Slide 7: Segmental Analysis

    Segmental Analysis in thousands Three Months Ended March 31, 2005 Operating Revenues Expenses Profit AIM U.S. £ 100,578 £ (65,725) £ 34,853 Canada 47,124 (20,955) 26,169 147,702 (86,680) 61,022 INVESCO U.S. 50,084 (38,568) 11,516 U.K. 52,733 (45,376) 7,357 Europe/Asia 15,938 (16,571) (633) 118,755 (

  8. Slide 8: Operating Profit – 2005 Q1 V. 2004 Q4

    Operating Profit – 2005 Q1 V. 2004 Q4 in thousands 2005 2004 Q1 Q4 Change AIM U.S. £ 34,853 £ 38,882 (4,029) Canada 26,169 26,220 (51) 61,022 65,102 (4,080) INVESCO U.S. 11,516 15,124 (3,608) U.K. 7,357 6,336 1,021 Europe/Asia (633) (815) 182 18,240 20,645 (2,405) Private Wealth/Retirement (2,079) (

  9. Slide 9: Funds Under Management

    Funds Under Management in billions AIM INVESCO PWM/ Total US Canada US UK Europe/Asia Retirement December 31, 2004 $382.1 $137.6 $34.6 $121.0 $49.6 $24.1 $15.2 Market gains/(losses) (1.4) (1.8) 0.3 (0.9) 0.8 0.4 (0.2) Net new (lost) business (2.5) (2.9) 0.4 (2.0) 2.2 (0.2) 0.0 Change in money market

  10. Slide 10: Balance Sheet

    Balance Sheet in thousands March 31, 2005 December 31, 2004 Non-current assets Goodwill and intangible assets £ 2,364,733 £ 2,317,247 Property and equipment 115,314 118,272 Investments 90,838 70,070 2,570,885 2,505,589 Currents assets Trade and other receivables 1,073,973 1,021,076 Investments 76,65

  11. Slide 11: Group Cash Flow

    Group Cash Flow in thousands Three Months Ended March 31, 2005 2004 Operating profit £ 68,826 £ 74,241 Amortization and depreciation 11,147 12,371 Interest paid, net of investment income (10,445) (9,498) Taxation (11,522) (8,152) Change in debtors, creditors, and other (45,070) (85,333) Net cash inf

  12. Slide 12: Analysis Of Net Debt

    Analysis Of Net Debt in thousands March 31, 2005 December 31, 2004 (Decrease)/Increase £ $ £ $ £ $ Senior notes ($1,229m) 657,017 1,229,476 640,619 1,229,476 16,398 - Credit facility 24,046 44,997 78,679 151,000 (54,633) (106,003) Other, including fx 5,449 10,196 5,328 10,226 121 (30) Total Debt 686

  13. Slide 13: Average Shares Outstanding

    Average Shares Outstanding in thousands Mar 31, 2005 Dec 31, 2004 Ordinary shares 765,286 773,574 Exchangeable shares 28,148 28,586 Shares outstanding 793,434 802,160 Shared based compensation 7,234 4,528 Total shares 800,668 806,688 13

  14. Slide 14: 2005 First Quarter Results

    AMVESCAP 2005 First Quarter Results

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