FirstRand Limited · JSE:FSR
FirstRand — FY2006 Earnings Presentation
7 slides from FirstRand's earnings presentation, Sep 23, 2006
Slide 1: Group financial review
| OA) || Group financial review @ FIRSTRAND
Slide 2: Another excellent performance
Another excellent performance June ’06 June ’05 % R’ mil Normalised Normalised change Headline earnings 8 818 7 276 21 Headline earnings per share - Basic 156.9 132.4 19 - Diluted 156.7 131.4 19 Return on equity (%) 25 25 Net asset value per share (cents) 671 577 16 Dividend growth (%) 20 20
Slide 3: All businesses delivered
All businesses delivered June ’06 June ’05 % change R’ mil Normalised Normalised Banking Group 7 268 6 062 20 Momentum 1 564 1 270 23 Discovery 424 316 34 FirstRand Limited (164) (304) 46 - Income on BEE funding 203 - - FirstRand costs (367) (304) Sub-total 9 092 7 344 24 Less: NCNR preference divid
Slide 4: Normalised vs Headline
Normalised vs Headline R’ mil June ’06 June ’05 % change Normalised earnings 8 818 7 276 21 Adjusted for: (703) (553) - Private equity realisations (219) (406) - National treasury settlement (30) - - Discovery BEE (102) - Treasury shares (352) (147) Headline earnings 8 115 6 723 21
Slide 5: Banking continues to dominate
Banking continues to dominate 2005 2006 17% 17% 5% 4% 78% 79% Momentum Discovery FirstRand
Slide 6: Financial targets met
Financial targets met 35% Banking Group +28% 30% Momentum Group 25% +24% ROE Discovery +22% 20% 10% plus FirstRand WACC 15% 10% real growth 10% 0% 10% 20% 30% 40% Headline earnings growth
Slide 7: Re-investing to deliver shareholder value
Re-investing to deliver shareholder value R’ bil CAGR 22% 40 25% 25% 25% 35 23% 23% 25% 30 25 17% 20 16% 12% 14% 14% 15 13% 10 5 0 Jun '01 Jun '02 Jun '03 Jun '04 Jun '05 Jun '06 NAV (excluding dividends) NAV (including dividends) Average cost of equity Return on equity