Mystate Limited · ASX:MYS
Mystate — FY2011 Earnings Presentation
35 slides from Mystate's earnings presentation, Sep 12, 2011
Slide 1: MyState Limited Investor Presentations September 2011
MyState Limited (ASX Code: MYS) For personal use only Investor Presentations September 2011
Slide 2: MyState Limited Investor Presentations: Presenters
MyState Limited For personal use only Investor Presentations September 2011 John Gilbert Managing Director Paul Viney Chief Financial Officer/Secretary 2
Slide 3: Disclaimer
Disclaimer For personal use only This presentation contains certain forward-looking statements with respect to the financial condition, results of operations, business plans and objectives of management. All such forward-looking statements involve known and unknown risks, significant uncertainties,
Slide 4: Programme
Programme For personal use only • Current Group Structure • 2009 MSF/TPT Merger Update • 30 June 2011 ‘Snapshot’ • MYS Group Results – Full Year Results YEJ 2011 • Performance Highlights • The Future • Strategic Priorities 4
Slide 5: Our Current Group Structure
Our Current Group Structure For personal use only 5
Slide 6: The 2009 MSF/TPT Merger Update
The 2009 MSF/TPT Merger Update • For All Shareholders: For personal use only Earnings per share (EPS) accretive in Year 1 and strongly EPS accretive thereafter - Achieved Continued and further EPS uplift as a result of cost and revenue synergies in years 2 and 3 - Achieved Anticipated enhanced and f
Slide 7: The 2009 MSF/TPT Merger Update
The 2009 MSF/TPT Merger Update • Revenue synergies For personal use only Increased product and service offering delivering revenue growth Cross referral process between MSF and TPT producing excellent results • Cost synergies Operating cost synergies fully realised in YEJ 11 and will be ongoing Prop
Slide 8: MYS June 2011 'Snapshot'
MYS 30 June 2011 ‘Snapshot’ Market capitalisation (6 September 11) $ 239M For personal use only NPAT $22.02M Net Assets $204.6M Funds Under Management (1) $0.93B Loans Under Management (2) $1.86B Funds Under Advice or Administration (1) $737M Deposits (2) $1.58B (1) Relates to Tasmanian Perpetual Tr
Slide 9: MYS Group Full-Year Results YEJ
MYS Group Full-Year Results YEJ 11 For personal use only • Group Revenue of $187.36M • Group Profit After Tax (PAT) of $22.02M • Earnings Per Share (EPS) of 32.65 cents • Final Dividend declared of 15.0 cents per share payable 7 October 2011 (Previous “Final Dividend” of 12.5 cents per share paid on
Slide 10: MYS Group Full-Year Results YEJ - Revenues
MYS Group Full-Year Results YEJ 11 - Revenues For personal use only • MSF Net Interest Margin (NIM) of 3.23% up 0.07% on previous period • TPT Managed Investment Scheme (MIS) management fees have stabilised after the Global Financial Crisis (GFC) • TPT capital and income commissions are stable but w
Slide 11: MYS Group Full-Year Results YEJ 11 - Revenues
MYS Group Full-Year Results YEJ 11-Revenues For personal use only FY 10 FY 11 % Change INTEREST INCOME Personal Loans 15,122,910 13,743,541 -9.1 Housing/Real Estate Loans 68,095,421 74,046,598 8.7 Commercial Loans 3,602,132 3,918,149 8.8 Revolving Credit 7,939,490 9,017,500 13.6 Securitisation Progr
Slide 12: MYS Group Full-Year Results YEJ 11 - Expenses
MYS Group Full-Year Results YEJ 11- Expenses For personal use only • Cost to Income Ratio down 3.9 percentage points on the previous period to 70% (Includes YEJ 11 year-end write-offs) • $1.7 million recognised in cost for initiatives around; TPTL Distribution Strategy – designed to streamline its d
Slide 13: Performance Highlights
For personal use only Performance Highlights 13
Slide 14: MYS Cost-to-Income
MYS Cost-to-Income For personal use only Note • All figures include bad and doubtful debts • YEJ 11 ‘underlying’ cost-to-income ratio is 68.40%, excluding year-end one off write-off’s 14
Slide 15: MYS Group Interest Bearing Portfolio
MYS Group Interest Bearing Portfolio For personal use only MyState Financial Limited Group Interest Bearing Asset Portfolio 2010 2011 % Change Personal Loans 128 110 -14.02% Housing Loans (On & Off B/Sheet) 1,438 1,594 10.83% Business Banking loans 42 46 8.95% Revolving Credit Loans 104 108 3.94% Sh
Slide 16: Interest Bearing Asset Portfolio - MSF
Interest Bearing Asset Portfolio - MSF For personal use only ($ Millions) Asset Category 16
Slide 17: Interest Bearing Liability Portfolio - MSF
Interest Bearing Liability Portfolio - MSF For personal use only ($ Millions) Liability Category 17
Slide 18: MSF Deposits
MSF Deposits For personal use only • 0.52% growth in deposits to $1.58 billon ($ Millions) 18
Slide 19: MSF Household Deposits as at June 2011
MSF Household Deposits as at 30 June 2011 For personal use only System data source: APRA - Licensed bank deposit data; Six month growth is to Jun 11 annualised 19
Slide 20: MSF Loans
MSF Loans For personal use only • 8.5% Growth in Loans to $1.86 billion 20
Slide 21: MSF Home Lending as at June 2011
MSF Home Lending as at 30 June 2011 For personal use only System data source : RBA, Lending and Credit aggregates, published on 29 July 2011. Six month growth is to Jun 11 annualised. 21
Slide 22: MSF Funding Mix
For personal use only MSF Funding Mix 22
Slide 23: MSF Net Interest Margin
MSF Net Interest Margin For personal use only 23
Slide 24: MYS Group Capital Adequacy
MYS Group Capital Adequacy For personal use only 24
Slide 25: TPTL Funds Under Management
TPTL Funds Under Management For personal use only 25
Slide 26: TPT Wealth Management Funds Under Advice
TPT Wealth Management Funds Under Advice For personal use only 26
Slide 27: Returns to Shareholders
Returns to Shareholders The Board of MyState Limited has established a policy of generally paying For personal use only ordinary dividends each year within the range of 70% to 90% of net profit after tax. This reflects; confidence in the prospects of the business strong cash flow generation high lev
Slide 28: Twelve Month Relative Stock Performance to June 2011
MyState Limited Twelve Month Relative Stock Performance to June 2011 For personal use only Re lative Pe rform ance (%) 130 125 120 115 110 105 100 95 90 Jun-10 Jul-10 Aug-10 Se p-10 Oct-10 Nov-10 De c-10 Jan-11 Fe b-11 M ar-11 Apr -11 M ay-11 Jun-11 A SX:MY S - Share Pricing S&P/A SX A ll Ordinaries
Slide 29: Twelve Month Stock Performance to June 2011
MyState Limited Twelve Month Stock Performance to June 2011 For personal use only Share Pricing in AUD 4.10 800,000 700,000 3.90 600,000 3.70 500,000 3.50 400,000 300,000 3.30 200,000 3.10 100,000 2.90 0 Jul-10 Jul-10 Aug-10 Se p-10 Oct-10 Nov-10 De c-10 Jan-11 Fe b-11 M ar-11 M ay-11 M ay-11 Jun-11
Slide 30: The Future
For personal use only The Future 30
Slide 31: The Future
The Future For personal use only • Market conditions remain challenging Subdue demand for credit – record consumer savings Competitive pressures – major banks and regionals • Maintain discipline in both asset and liability generation Price for risk in new SME business unit Profitability vs market sh
Slide 32: Strategic Priorities
For personal use only Strategic Priorities 32
Slide 33: Strategic Priorities
Strategic Priorities For personal use only • Rolling 3 year Strategic Plan developed by Board and Executive and to be reviewed each year • Further Development of Rural and Commercial lending capability • Successful completion of ROK Scheme of Arrangement – November 2011 • Significant new M&A focus,
Slide 34: Questions?
For personal use only Questions? 34
Slide 35: MyState Limited (ASX Code: MYS)
MyState Limited (ASX Code: MYS) For personal use only Investor Presentations September 2011