NAOS Emerging Opportunities Co. Ltd. · ASX:NCC
NAOS Emerging Opportunities — Q3 FY2019 Earnings Presentation
28 slides from NAOS Emerging Opportunities's earnings presentation, Apr 16, 2019
Slide 1: Investor Conference Call Q3 FY2019
NAOS Asset Management For personal use only Investor Conference Call Q3 FY2019 10:30am (AEST) Tuesday 16th April Dial-in Number: 1300 289 804 Guest Access Code: 10842873 # CONVICTION. LONG TERM. ALIGNED | Copyright 2019 NAOS Asset Management Limited 1
Slide 2: Important Information
Important Information For personal use only This material has been prepared by NAOS Asset Management Limited (ABN 23 107 624 126, AFSL 273529) (NAOS) for general information purposes only and must not be construed as investment advice. It does not constitute an offer to purchase any security or fina
Slide 3: NAOS Investment Mandate
NAOS Investment Mandate For personal use only 01 02 NAOS seeks to protect investor capital NAOS provides investors with genuine, whilst providing a sustainable growing concentrated exposure to Australian stream of fully franked dividends and undervalued listed micro, small and long-term capital grow
Slide 4: NAOS Investment Beliefs
NAOS Investment Beliefs For personal use only Value with Long Quality over Invest for the Performance v Term Growth Quantity Long Term Liquidity Focus (5+ years) Ignore the Pure Exposure Environmental, Management Index to Industrials Social and Alignment Governance (ESG) We do not invest in tobacco,
Slide 5: Q3 FY2019 Review
Q3 FY2019 Review For personal use only US market rally not Since 1st January 2019 to 8th April 2019, the S&P 500 is up 15%, while the Nasdaq is being supported by up 20%. Friday 5th April saw the second-fewest shares change hands of any trading day volume in 2019. Hyper-growth stocks Since 1st Janua
Slide 6: Q3 FY2019 Review
Q3 FY2019 Review Hyper Growth Stocks v S&P/ASX Small Ordinaries Index (ASX: XSO)* For personal use only 160 150 140 Index Points 130 WAAAX Index S&P/ASX Small Ordinaries Index 120 (ASX: XSO) 110 100 * Source Bloomberg Data, WAAAX Index includes equally weighted Afterpay (ASX: APT), Wisetech (ASX: WT
Slide 7: Q3 FY2019 Review
Q3 FY2019 Review For personal use only Valuation and Performance of Recent Tech IPOs (USD $bn)* 35 30 25 20 15 10 5 0 Twitter Square Snap Dropbox Lyft Last Private Valuation Market value at IPO Market Capitalisation* * Source CB Insights, Google Finance via Financial Times as at 8 April 2019 CONVICT
Slide 8: NTA & Performance 2019
NTA & Performance as at 31 March 2019 For personal use only PRE TAX NTA 3 MONTH 1 YEAR INCEPTION (P.A.) INCEPTION (NOMINAL) NCC* $1.07 +2.83% -10.86% +12.39% +103.70% (6 years 1 month) NSC^ $0.75 +1.26% -13.33% -10.30% -13.46% (16 months) NAC* $1.00 +5.19% -5.22% +11.46% +60.83% (4 years 5 months) *
Slide 9: Long Term Capital Protection
Long Term Capital Protection* For personal use only 0.00% 15.00% 10.00% -2.00% 5.00% -4.00% Average Performance Average Performance (Down Market Months) (Down Market Months) 0.00% Performance (p.a.) Performance (p.a.) NCC v XSOAI NAC v XKIAI NCC v XSOAI NAC v XKIAI NAOS LIC -0.51% -0.35% NAOS LIC 12
Slide 10: NCC Overview 2019
NCC Overview as at 31 March 2019 Dividend profile For personal use only $0.40 $0.3925 $0.35 6.71% 100% $0.3550 Fully Franked Dividend Yield Franking $0.30 $0.2825 $0.25 $0.2125 $0.20 $0.1450 $0.15 $0.10 $0.0825 $0.0675 $0.0700 $0.0725 $0.0575 $0.0625 $0.05 $0.0375 $0.0250 $0.0250 $0.00 2H FY13 FY14
Slide 11: NCC Overview 2019
NCC Overview as at 31 March 2019 For personal use only Positive stock contributors to the investment portfolio since Contribution to Current Holding inception, 26th February 2013 Return BSA Limited (ASX: BSA) Yes 21.83% Calliden Group Limited (ASX: CIX) No 14.30% Capitol Health Limited (ASX: CAJ) No
Slide 12: NSC Overview 2019
NSC Overview as at 31 March 2019 Dividend profile For personal use only $0.10 $0.09 8.80% 100% $0.080 $0.08 Fully Franked Dividend Yield Franking $0.07 $0.06 $0.055 $0.05 $0.04 $0.030 $0.03 $0.025 $0.025 $0.025 $0.02 $0.01 $0.00 1H FY18 2H FY18 Q1 & Q2 FY19 Dividend Per Share Net Cumulative Dividend
Slide 13: NSC Overview 2019
NSC Overview as at 31 March 2019 For personal use only The top 5 positive stock contributors to the investment portfolio Contribution to Current Holding since inception, 1st December 2017 Return Over The Wire Limited (ASX: OTW) Yes 3.00% Enero Group Limited (ASX: EGG) Yes 2.73% Service Stream Limite
Slide 14: NAC Overview 2019
NAC Overview as at 31 March 2019 Dividend profile For personal use only $0.1970 $0.20 $0.18 $0.16 6.19% 100% $0.1700 Fully Franked Dividend Yield Franking $0.14 $0.1175 $0.12 $0.10 $0.08 $0.0675 $0.06 $0.0500 $0.0525 $0.0475 $0.04 $0.0270 $0.0200 $0.0200 $0.02 $0.00 2H FY15 FY16 FY17 FY18 Q1 & Q1 FY
Slide 15: NAC Overview 2019
NAC Overview as at 31 March 2019 For personal use only Positive stock contributors to the investment portfolio since Contribution to Current Holding inception, 12th November 2014 Return Service Stream Limited (ASX: SSM) No 6.65% BSA Limited (ASX: BSA) No 6.41% MNF Group Limited (ASX: MNF) Yes 6.02%
Slide 16: Updates on Key Investments
Updates on Key Investments For personal use only MNF Group Ltd (ASX: MNF) Enero Group Ltd (ASX: EGG) • Lowered FY19 EBITDA guidance by ~5% and • Achieved a record EBITDA result with 15% organic maintained FY20 EBITDA guidance, which implies revenue growth. ~25% EBITDA growth. • Significant client wi
Slide 17: Updates on Key Investments
Updates on Key Investments For personal use only CML Group Ltd (ASX: CGR) Smartgroup Ltd (ASX: SIQ) • Released a very strong 1HFY19 result with EBITDA • Added back into the NAC portfolio in March after the up +30% and the share price subsequently reaching share price fell from almost $13.00 to $8.00
Slide 18: Example channel checking activities
Example channel checking activities (listed, unlisted and global businesses) For personal use only NAOS holding Activity Tour of Chinese Operations Costa Group Limited (ASX: CGC) End Market Store Tour in China Wingara AG Limited (ASX: WNR) Fresh Produce Contact Alibaba Australian Government Consulta
Slide 19: Capital management and acting in the best interests of shareholders
Capital management and acting in the best interests of shareholders For personal use only • All dividends to date from NAOS LICs have been fully franked. Dividends • The Dividend Reinvestment Plan (DRP) buys shares on market if the share price is at a discount to NTA to avoid diluting shareholders.
Slide 20: Appendix
Appendix For personal use only CONVICTION. LONG TERM. ALIGNED | Copyright 2019 NAOS Asset Management Limited 20
Slide 21: NAOS Listed Investment Companies
NAOS Listed Investment Companies For personal use only CONVICTION. LONG TERM. ALIGNED | Copyright 2019 NAOS Asset Management Limited 21
Slide 22: NAOS investment process
NAOS investment process For personal use only CONVICTION. LONG TERM. ALIGNED | Copyright 2019 NAOS Asset Management Limited 22
Slide 23: NAOS ESG framework
NAOS ESG framework For personal use only CONVICTION. LONG TERM. ALIGNED | Copyright 2019 NAOS Asset Management Limited 23
Slide 24: Historical Shareholder Numbers
Historical Shareholder Numbers For personal use only NCC Shareholders NAC Shareholders NSC Shareholders 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 2H FY13 1H FY14 2H FY14 1H FY15 2H FY15 1H FY16 2H FY16 1H FY17 2H FY17 1H FY18 2H FY18 1H FY19 CONVICTION. LONG TERM. ALIGNED | Copyright 2019 NAOS
Slide 25: Investor awareness and communication
Investor awareness and communication For personal use only CEO Insights, NAOS Shareholder Monthly Investment The news and media Twice yearly National Newsletter, Conference Calls, Report & NTA email section of our website Roadshow subscribe via our subscribe via our updates, subscribe via is updated
Slide 26: NAOS Directors and Team
NAOS Directors and Team For personal use only OUR DIRECTORS Sebastian Evans Matthew Hyder David Rickards Sarah Williams Warwick Evans Mark Bennett Trevor Carroll Managing Director, NAOS Asset Director, NAOS Asset Independent Chairman & Director, Independent Director, Chairman, NAOS Asset Director, N
Slide 27: NAOS Asset Management giving back
NAOS Asset Management giving back NAOS, the management company, is proud to be supporting the following charities For personal use only ‘Golden Shouldered Parrot’ threatened ‘Reef Aid’ campaign, in partnership RFDS, dedicated to providing species project, in partnership with with Greening Australia
Slide 28: Q&A
Q&A For personal use only Thank you for your continued support CONVICTION. LONG TERM. ALIGNED | Copyright 2019 NAOS Asset Management Limited 28
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