Slide 1: FY21 Half Year Results Presentation
FY21 HALF YEAR RESULTS PRESENTATION 9 February 2021 Stuart Irving, Chief Executive Officer and President Nick Oldfield, Chief Financial Officer 1
Slide 2: 1H21 Results
1H21 Results Business performance ahead of plan - interest rates impact earnings, dividend maintained and full year guidance upgraded Management Revenue Margin Income Management EPS $1.1bn 3.2% $55.2m 52.4% 21.77cps 24.8% Interim Dividend Per Share Management Revenue ex MI Management EBIT ex MI (AUD
Slide 3: 1H21 Management EPS
1H21 Management EPS Strong operating performance and cost out programs driving above target 1H 28.96 8.36 0.85 3.12 21.77 USD cps 2.11 ~ 20.00 1.50 5.03 3.52 1.00 1H20 Margin Income Increased One off costs 2 US Mortgage UKAR fixed fee BEAT (timing) 3 Cost out Operating 1H21 1H21 1 Management EPS Amo
Slide 4: 1H21 Summary
1H21 Summary Growth in fee revenues and contributions from cyclical businesses Issuer Services revenue Employee Share Plans Good contribution from Consistent fee growth in growth transactions recovery cyclical Bankruptcy business Corporate Trust Volatile market conditions & ongoing foreclosure Margi
Slide 5: FY21 Outlook
FY21 Outlook We upgrade Management EPS to be down around 8% (previously down around 11%) Guidance Management EPS (at actual FX rates) › In constant currency, for FY21 we expect: - Management EPS to be down by around 8%1 35.0 35.3 - We expect Management EPS for 2H21 to be around 30.0 cents per share
Slide 6: 2H21 Management EPS guidance bridge
2H21 Management EPS guidance bridge Consistent operational growth and cost out programs support positive 2H outlook Growth expected in Issuer Services, Employee Share Plans, US Mortgage Services and Business Services ~ 30.00 1.00 5.82 2.00 0.70 2.11 21.77 USD cps 1H Management EPS Margin income redu
Slide 7: 1H21 Management results summary
1H21 Management results summary Revenue growth ex margin income, up 2.4% 1H21 Actual 1H20 Actual Variance 1H21 Actual (at 1H20 CC) Total revenue ex Margin Income $1,032.7 $1,008.3 +2.4% $1,046.9 Margin Income $55.2 $116.0 -52.4% $55.5 Total revenue $1,087.9 $1,124.3 -3.2% $1,102.5 Operating costs $8
Slide 8: Margin Income
Margin Income Balances above expectations, margin income tracking in line with plan 25.0 125.2 121.2 116.0 120.0 FY22 margin income 99.9 expected to 20.0 be around $80m 100.0 89.4 83.4 86.4 79.0 79.6 74.3 80.0 15.0 USD million 69.6 66.6 USD billion 55.5 60.0 49.5 10.0 40.0 5.0 20.0 15.1 15.2 15.0 16
Slide 9: Issuer Services
Issuer Services Globally integrated product offering gaining traction Mgmt EBIT ex. Margin Income Revenue breakdown 1H21 CC 1H20 Actual CC Variance Register Maintenance* $302.7 $300.9 +0.6% $102.8m 23.3% Corporate Actions* $65.3 $48.5 +34.6% Stakeholder Relationship Management* $35.2 $18.1 +94.5% Is
Slide 10: Employee Share Plans
Employee Share Plans Improved fee revenue with trading volumes recovering Mgmt EBIT* ex. Margin Income Revenue breakdown 1H21 CC 1H20 Actual CC Variance Fee Revenue $67.7 $66.5 +1.8% $14.6m 19.8% Transactional Revenue $57.3 $61.9 -7.4% Other Revenue $5.8 $7.0 -17.1% Margin Income $2.2 $6.3 - 65.1% M
Slide 11: Mortgage Services
Mortgage Services Foreclosure moratorium and low rates impacting US, UK cost out on track Mgmt EBIT ex. Margin Income Revenue breakdown 1H21 CC 1H20 Actual CC Variance US Mortgage Services* $213.1 $209.4 +1.8% -$2.6m 111.1% Margin Income $2.1 $17.9 -88.3% UK Mortgage Services $66.3 $101.6 -34.7% Tot
Slide 12: Mortgage Services (continued)
Mortgage Services (continued) US strategy remains on track despite near term earnings pressures EBIT ex Margin Income Bridge UK (down 52.8% vs. pcp) US (down 106.1% vs. pcp) 9.6 USD M 23.4 8.5 34.3 23.5 11.1 2.8 6.3 -2.6 1.5 1H20 actual UKAR Fixed Fee UK Cost out UK Reduced Accelerated run- Foreclos
Slide 13: Business Services
Business Services Continued growth in Corporate Trust fee revenue, strong Bankruptcy contribution Mgmt EBIT ex. Margin Income Revenue breakdown 1H21 CC 1H20 Actual CC Variance Corporate Trust* $26.0 $24.2 +7.4% $12.9m 55.4% Bankruptcy* $41.3 $18.5 +123.2% Class Actions* $31.5 $45.3 -30.5% Margin Inc
Slide 14: Operating expense analysis
Operating expense analysis Cost out programs delivering 6.3% BAU operating expense reduction 199.7 171.2 811.8 787.6 BAU Opex -6.3% USD M 14.3 15.2 34.5 13.8 616.4 5.5 612.1 10.0 577.6 1H20 Less 1H20 1H20 UK Mortgage Cost out Underlying 1H BAU cost Acquisitions Investment in One off 1H21 Add 1H21 1H
Slide 15: Cost out programs – 1H21
Cost out programs – 1H21 Expanded cost out opportunity in UK Mortgage Services Benefit realisation (cumulative) $M Total cost savings FY21 change Stage Total Activity estimates FY17A FY18A FY19A FY20A FY21E vs. last FY22E FY23E change vs. last disclosure2 disclosure2 Stage 1 Total 25 - 30 7.8 14.0 2
Slide 16: Cash flow and leverage
Cash flow and leverage 1H21 Interim Dividend maintained. Net debt to EBITDA ratio within target range Cashflow Waterfall Net Debt / EBITDA1 (x) 2.25x 2.24x Leverage 8.0 1.97x 1.93x target 124.1 range 45.1 1.75x 7.5 71.0 20.8 89.0 1H20 FY20 1H21 -46.3 Net operating Capex MSR Free cash Acquistions* MS
Slide 17: Conclusions
Conclusions › 1H21 Management EPS tracking ahead of plan - Computershare’s operating businesses are performing: +2.4% revenue growth ex MI - Good growth in recurring fee revenues, c. 76% of group total - Contributions from increased activity in cyclical businesses › Record low interest rates impact
Slide 18: Appendices
APPENDICES Statutory results Management Revenue, EBITDA and EBIT analysis Operating cost analysis 1H21 Management NPAT analysis Management EPS – AUD equivalent Effective tax rate Dividend history and franking Cash Flow analysis Balance Sheet Key financial ratios Debt facility maturity profile CAPEX
Slide 19: Statutory results
Statutory results 1H21 1H20 Vs 1H20 (pcp) Total Revenues $1,113.7m $1,125.8m -1.1% Total Expenses $1,009.7m $940.3m +7.4% Statutory Net Profit (post NCI) $72.6m $124.7m -41.8% Earnings per share (post NCI) 13.41 cents 23.00 cents -41.7% › Management results are used, along with other measures, to as
Slide 20: Management adjustment items
Management adjustment items Appendix 4D note 2 Amortisation › Customer relationships and most of other intangible assets that are recognised on business combinations or major asset acquisitions are amortised over their useful life in the statutory results but excluded from management earnings. The a
Slide 21: Management revenue bridge
Management revenue bridge Increased operating revenue from Issuer Services and Bankruptcy 1,200 1,180 31.7 1,160 4.4 2.4 57.7 5.6 10.8 1,140 USD M 1,120 1,124.3 60.8 1,100 14.6 1,102.5 1,080 1,087.9 1,060 1,040 1H20 Mgt Issuer Services Mortgage Employee Share Business CCS and Corporate & Margin Inco
Slide 22: Management revenue by business stream
Management revenue by business stream Revenues down 3.2%, +2.4% excluding Margin Income 1H21 Rev Rev ex MI 1H21 Rev 1H21 MI 1H20 1H20 1H20 Rev Rev CC ex MI @ CC @ CC @ CC Rev MI ex MI Variance CC Variance Issuer Services $459.8 $22.1 $437.7 $424.3 $44.4 $380.0 +8.4% +15.2% Mortgage Services & Proper
Slide 23: Revenue excluding Margin Income at actual FX rates
Revenue excluding Margin Income at actual FX rates Revenue breakdown 1H21 Actual 1H20 Actual 2H20 Actual FY20 Actual 1H19 Actual 2H19 Actual FY19 Actual Register Maintenance* $306.4 $300.9 $324.9 $625.8 $314.1 $344.0 $658.2 Corporate Actions* $66.4 $48.5 $44.9 $93.4 $47.7 $40.4 $88.0 Stakeholder Rel
Slide 24: EBITDA by business stream
EBITDA by business stream EBITDA ex Margin Income $221.3m, up 0.3% 1H21 1H20 CC 1H21 @ 1H20 Op. 1H21 1H20 Ex MI 1H21 ex 1H20 ex EBITDA EBITDA Variance CC Op. Margin EBITDA EBITDA CC MI @ CC MI Op. @ CC Margin ex MI @ ex MI Variance Op. Margin CC Margin Issuer Services $126.7 $129.2 -1.9% 27.5% 30.5%
Slide 25: EBIT by business stream
EBIT by business stream EBIT ex Margin Income $135.2m, down 9.8% 1H21 1H20 CC 1H21 @ 1H20 Op. 1H21 1H20 Ex MI 1H21 ex 1H20 ex EBIT @ EBIT Variance CC Op. Margin EBIT ex EBIT ex CC MI @ CC MI Op. CC Margin MI @ MI Variance Op. Margin CC Margin Issuer Services $125.0 $127.7 -2.1% 27.2% 30.1% $102.8 $8
Slide 26: Revenue, EBITDA and EBIT by business stream at actual FX rates
Revenue, EBITDA and EBIT by business stream at actual FX rates 1H21 1H20 REV EBITDA EBITDA EBIT EBIT REV EBITDA EBITDA EBIT EBIT MARGIN Margin % MARGIN Margin % % % Issuer Services $465.0 $127.9 27.5% $126.2 27.1% $424.3 $129.2 30.5% $127.7 30.1% Mortgage Services & Property $297.8 $53.6 18.0% $5.3
Slide 27: Management revenue and EBITDA at actual FX rates
Management revenue and EBITDA at actual FX rates Revenue by Region EBITDA by Region 1,400.0 400.0 1,156.9 350.0 336.6 1,200.0 1,124.3 1,102.5 309.7 93.7 47.4 92.1 81.6 300.0 277.7 1,000.0 38.1 34.9 250.0 USD M USD M 800.0 576.6 595.4 574.5 200.0 202.0 600.0 190.3 153.4 150.0 36.8 50.7 42.4 400.0 100
Slide 28: Management EBITDA excluding Margin Income and FX movements
Management EBITDA excluding the impact of Margin Income and FX movements increased by 0.3% in 1H21 versus pcp 447.0 431.2 425.2 401.7 369.3 355.0 318.7 252.8 220.6 221.3 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 1H21 Note: Management EBITDA translated at FY20 average rates and excludes Margin Income.
Slide 29: Operating cost analysis
Operating cost analysis Cost out programs delivering 6.3% BAU operating expense reduction 1H21 @ CC 1H20 CC Variance 1H21 Cost of Sales $199.7 $171.2 +16.6% $202.9 Personnel $494.1 $489.9 +0.9% $502.3 Fixed/Perm $477.5 $465.8 +2.5% $485.4 Variable/Temp $16.6 $24.1 -31.1% $16.9 Occupancy $17.1 $16.1
Slide 30: 1H21 Management NPAT analysis
30 USD M 20 40 60 80 100 120 140 0 160 180 1H20 NPAT 157.0 Mgt EBIT 14.7 (ex MI) Margin Income 60.8 Interest 8.7 1H21 Management NPAT analysis Tax 27.6 Non-controlling 0.1 interest 1H21 @ CC NPAT 117.8 FX 0.1 1H21 NPAT 117.9
Slide 31: Management EPS – AUD Equivalent
Management EPS – AUD Equivalent Management EPS (AUD) 1 0.9139 140 0.8389 0.9 0.7758 120 0.7521 0.8 0.7273 0.7177 0.7158 0.6716 0.7 100 Cents per share 97.87 Exchange rate 97.87 0.6 80 81.69 83.56 0.5 75.74 71.31 72.35 60 65.92 0.4 0.3 40 42.35 0.2 30.44 20 0.1 0 0 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Slide 32: Effective tax rate
Effective tax rate Statutory and management (at actual FX rates) 34% 33% 32.8% › The Group’s statutory effective 32% tax rate has decreased from 31.6% 32.8% in 1H20 to 30.5% in 31% 1H21. 30.5% › The Group’s management Tax Rate % 30% effective tax rate has decreased 29.6% 29% from 31.6% in 1H20 to 27
Slide 33: Dividend history and franking
Dividend history and franking 1H21 Interim Dividend maintained 25.0 23 23 23 23 20.0 21 21 19 19 17 17 15.0 16 16 15 15 14 10.0 5.0 0.0 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 Dividend (AU cents) Franking (%) 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2
Slide 34: Cash flow summary at actual FX rates
Cash flow summary at actual FX rates Free cash flows, $71.0m, down -65.6% largely due to lower 1H21 profit before tax and higher tax payments 1H21 Actual 1H20 Actual Net operating receipts and payments $238.9 $312.2 Net interest and dividends ($38.2) ($33.3) Income taxes paid ($76.6) ($28.6) Net ope
Slide 35: Balance Sheet
Balance Sheet Leverage ratio within target range 1.75x – 2.25x Dec-20 Jun-20 Variance Current Assets $1,491.1 $1,432.0 +4.0% Non Current Assets $3,663.6 $3,557.8 +3.0% Total Assets $5,154.7 $4,989.7 +3.3% Current Liabilities $837.3 $1,024.6 -18.3% Non Current Liabilities $2,689.7 $2,374.8 +13.3% Tot
Slide 36: Key financial ratios
Key financial ratios Dec-20 Jun-20 Variance USD m USD m Interest Bearing Liabilities including SLS advance debt $2,154.0 $2,029.8 -6.1% Less Cash ($592.4) ($597.3) -0.8% Net Debt including non-recourse SLS advance debt $1,561.6 $1,432.5 +9.0% Net debt excluding non-recourse SLS advance debt $1,316.6
Slide 37: Debt maturity profile
Debt maturity profile Maturity Dates Debt Committed Bank Private SLS USD million Drawn Debt Debt Placement Advance Facilities Facility Facility Facility FY21 Jun-21 26.8 75.0 75.0 FY22 Aug-21 83.8 125.0 125.0 Feb-22 220.0 220.0 220.0 Mar-22 100.0 100.0 100.0 FY23 Dec-22 126.0 225.0 225.0 800 Apr-23
Slide 38: Capital expenditure versus depreciation at actual FX rates
Capital expenditure versus depreciation at actual FX rates 20 45.0 39.5 18 38.0 38.3 40.0 16 35.0 13.6 14 13.2 0.4 30.0 0.7 Depreciation USD M 12 Capex USD M 1.0 10.6 4.1 25.0 0.1 10 3.6 0.2 2.3 20.0 8 1.5 15.0 6 9.0 10.0 4 7.8 6.6 2 5.0 0 0.0 1H20 2H20 1H21 Information Technology Communication Serv
Slide 39: Technology costs at actual FX rates
Technology costs at actual FX rates 200 14.0% 12.6% 12.4% 180 12.0% 12.0% 160 Technology costs as a % of revenue 142.2 144.0 140 7.2 132.3 10.0% 7.6 6.4 120 26.2 29.6 22.1 8.0% USD M 100 6.0% 80 59.0 57.3 55.2 60 4.0% 40 51.5 2.0% 47.7 48.5 20 0 0.0% 1H20 2H20 1H21 Development Infrastructure Mainten
Slide 40: Financial performance by half year at actual FX rates
Financial performance by half year at actual FX rates 1H21 2H20 1H20 2H19 1H19 2H18 1H18 2H17 1H17 2H16 1H16 2H15 1H15 2H14 1H14 Total Management Revenue $1,102.5 $1,156.9 $1,124.3 $1,228.7 $1,127.8 $1,173.1 $1,127.8 $1,110.8 $1,003.2 $1,035.5 $938.7 $1,016.5 $959.5 $1,045.7 $976.9 Operating Costs $
Slide 41: 1H21 Computershare at a glance
1H21 Computershare at a glance Management revenue @ CC Management EBITDA @ CC Canada ANZ Canada ANZ 7% 10% 13% 5% Asia By geography Asia 7% 14% UCIA $1,087.9m UCIA $276.5m 11% 19% CEU USA 1% 53% CEU 4% USA 56% Communication Corporate & Technology Corporate & Technology Services & 0% 12% Utilities Co
Slide 42: High quality core industrial drives consistent operating performance
High quality core industrial drives consistent operating performance EBIT margin 23.1% - in line with 10 year 1H performance range; 17.3-25.8%* 30% 2,000 25% 1,500 20% 17.3% EBIT margin Total Revenue 1,128 1,128 1,124 1,102 USD M % 986 977 1,003 15% 960 939 1,000 270 245 296 269 781 217 287 246 233
Slide 43: Global Register Maintenance and Employee Share Plans revenue
Global Register Maintenance and Employee Share Plans revenue Registry Maintenance @ CC Employee Share Plans @ CC Margin Oth Rev Holder/Broker Income 4% paid 2% 28% Issuer paid 1H21 @ CC 68% $314.2m $132.9m Transaction Fee Margin 43% 51% income 4% Oth Rev Holder/Broker Margin 5% paid Income 30% 4% Is
Slide 44: Financial snapshot – US Mortgage Services
Financial snapshot – US Mortgage Services 1H21 revenue composition Other Base service fees Servicing 35% Fees • Base servicing fees, $107.9m, +4.0% 50% • Margin Income $2.1m, -88.3% $215.2m • Servicing related fees $29.8m, +26.5% • Other services fees $75.4m, -8.1% Servicing related fees Margin 14%
Slide 45: US and UK Mortgage Services – UPB and number of loans
US and UK Mortgage Services – UPB and number of loans US Mortgage Services UPB down 2.3% ($115.8bn v $118.5bn) Performing Non-performing At 31 Dec 20 At 30 Jun 20 At 31 Dec 20 At 30 Jun 20 Fully-Owned $28.7bn $31.5bn $9.4bn $9.2bn MSRs 1 122K Loans 131K Loans 79K Loans 85K Loans Excess strip deals E
Slide 46: Mortgage Services Revenue and EBITDA at actual FX rates
Mortgage Services Revenue and EBITDA at actual FX rates 1H18 2H18 1H19 2H19 1H20 2H20 1H21 US Mortgage Services revenue $143.4 $162.7 $159.4 $201.3 $227.3 $211.4 $215.2 UK Mortgage Services revenue $122.1 $132.9 $128.0 $127.1 $101.6 $95.0 $68.7 Total Mortgage Services revenue $265.4 $295.6 $287.4 $3
Slide 47: Mortgage services key terms
Mortgage services key terms Performing servicing: Servicing of a mortgage which is less than 30 days delinquent. Typically loans that meet the criteria of the Government Sponsored Entities e.g. “Fannie Mae”, “Freddie Mac”. Non-performing servicing: Servicing of a mortgage that is over 30 days delinq
Slide 48: 1H21 Management revenue at actual FX rates
1H21 Management revenue at actual FX rates 300 250 238.4 215.2 200 150 USD M 100 82.6 76.0 76.0 63.3 57.1 49.3 50 41.1 35.0 34.2 21.9 26.0 19.6 14.4 18.8 6.5 6.0 8.8 4.2 3.8 3.3 0.5 0.4 0.1 0.1 -0.1 0 Issuer Services Mortgage Services & Employee Share Plans & Business Services Communication Services
Slide 49: 1H21 Management revenue at actual FX rates
1H21 Management revenue at actual FX rates Issuer Services breakdown 180 159.5 160 140 120 100 USD M 80 60 50.7 40 28.9 30.3 28.1 27.7 25.6 24.8 26.3 20.3 20 11.2 9.7 5.7 5.8 3.5 0.9 2.5 0.5 0.1 1.6 1.2 0 Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Ot
Slide 50: Australia
Australia Management revenue: AUD million 1H20 2H20 1H21 150.2 129.5 148.1 90.0 80.5 80.0 72.3 70.0 62.2 62.8 59.0 60.0 57.4 50.0 40.0 30.0 20.0 11.7 9.5 10.0 7.8 3.4 0.4 0.7 - Issuer Services Employee Share Plans & Voucher Services Communication Services & Utilities Corporate & Technology 1H20 2H20
Slide 51: Australia – Issuer Services
Australia – Issuer Services Management revenue: AUD million 1H20 2H20 1H21 72.3 62.2 80.5 70.0 64.1 60.0 57.4 50.0 48.4 40.0 30.0 20.0 14.5 12.8 12.5 10.0 1.4 0.8 1.2 0.7 0.5 0.7 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other 1H20 2H20 1H21 51
Slide 52: Hong Kong
Hong Kong Management revenue: HKD million 1H20 2H20 1H21 407.1 441.4 591.9 500.0 442.8 450.0 400.0 350.0 311.5 300.0 288.7 250.0 200.0 148.9 150.0 129.9 118.5 100.0 50.0 -0.1 - 0.2 - Issuer Services Employee Share Plans & Voucher Services Corporate & Technology -50.0 1H20 2H20 1H21 52
Slide 53: Hong Kong – Issuer Services
Hong Kong – Issuer Services Management revenue: HKD million 1H20 2H20 1H21 288.7 311.4 442.8 250.0 224.0 210.5 210.6 198.3 200.0 150.0 100.0 87.3 62.4 50.0 15.7 19.6 12.8 0.2 0.7 0.8 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other 1H20 2H20 1H21 5
Slide 54: USA
USA Management revenue: USD million 1H20 2H20 1H21 576.6 598.9 574.5 300.0 263.9 250.0 238.4 232.3 227.3 211.4 215.2 200.0 150.0 100.0 70.9 73.9 76.0 50.0 27.6 29.4 26.0 18.5 20.2 18.8 - 0.1 0.1 - Issuer Services Mortgage Services & Property Employee Share Plans & Business Services Communication Ser
Slide 55: USA – Issuer Services
USA – Issuer Services Management revenue: USD million 1H20 2H20 1H21 232.2 263.9 238.4 200.0 185.9 180.0 175.1 159.5 160.0 140.0 120.0 100.0 80.0 60.0 40.5 40.0 29.7 27.6 24.8 26.3 27.7 20.7 20.0 9.5 7.2 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - O
Slide 56: Canada
Canada Management revenue: CAD million 1H20 2H20 1H21 121.6 127.4 108.7 70.0 60.0 57.9 55.4 51.3 50.0 48.5 46.6 45.6 40.0 30.0 20.0 13.4 11.9 11.7 10.0 6.1 4.3 5.1 - 0.1 -0.2 - Issuer Services Employee Share Plans & Voucher Business Services Communication Services & Utilities Corporate & Technology
Slide 57: Canada – Issuer Services
Canada – Issuer Services Management revenue: CAD million 1H20 2H20 1H21 48.5 51.3 46.6 45.0 40.7 40.0 37.4 34.6 35.0 30.0 25.0 20.0 15.0 12.3 9.3 10.0 7.6 5.0 1.6 1.3 1.5 - Register Maintenance Corporate Actions Issuer Services - Other 1H20 2H20 1H21 57
Slide 58: UK, Channel Islands & Equatex
UK, Channel Islands & Equatex Management revenue: GBP million 1H20 2H20 1H21 194.2 192.6 153.4 Mortgage Services Plans including 1H20: 81.2m Equatex 100.0 2H20: 74.8m 1H20: 58.9m 93.2 1H21: 53.0m 2H20: 66.9m 90.0 86.4 1H21: 52.5m Vouchers 80.0 1H20: 7.6m 72.7 2H20: 3.9m 70.0 1H21: 4.9m 63.7 64.6 60.
Slide 59: UK and Channel Islands – Issuer Services
UK and Channel Islands – Issuer Services Management revenue: GBP million 1H20 2H20 1H21 27.1 25.2 26.2 25.0 19.8 20.0 17.7 16.0 15.0 10.0 5.5 5.0 3.0 3.2 2.1 2.2 2.1 2.5 2.4 1.9 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other 1H20 2H20 1H21 59
Slide 60: South Africa
South Africa Management revenue: RAND million 1H20 2H20 1H21 124.1 143.6 111.2 160.0 141.7 140.0 121.1 120.0 109.1 100.0 80.0 60.0 40.0 20.0 2.6 1.8 2.1 0.4 0.1 0.0 - Issuer Services Employee Share Plans & Voucher Services Corporate & Technology 1H20 2H20 1H21 60
Slide 61: South Africa – Issuer Services
South Africa – Issuer Services Management revenue: RAND million 1H20 2H20 1H21 121.1 141.7 109.1 120.0 104.1 101.4 100.0 97.1 80.0 60.0 38.5 40.0 20.0 15.4 7.9 4.0 1.6 1.7 - Register Maintenance Corporate Actions Issuer Services - Other 1H20 2H20 1H21 61
Slide 62: Germany
Germany Management revenue: EUR million 1H20 2H20 1H21 17.6 27.9 20.0 18.0 16.6 16.0 14.0 14.0 12.3 12.0 10.5 10.0 8.0 6.9 6.0 4.0 2.8 2.0 0.7 0.9 0.7 0.1 -0.0 0.0 - Issuer Services Employee Share Plans & Voucher Services Communication Services & Utilities Corporate & Technology -2.0 1H20 2H21 1H21
Slide 63: Germany – Issuer Services
Germany – Issuer Services Management revenue: EUR million 1H20 2H20 1H21 2.8 10.5 6.9 12.0 10.2 10.0 8.0 6.7 6.0 4.0 2.5 2.0 0.3 0.3 0.2 - Register Maintenance Issuer Services - Other 1H20 2H20 1H21 63
Slide 64: Breakdown of average client balances for 1H21
Breakdown of average client balances for 1H21 USD 17.6bn Total balances USD 12.8bn USD 4.8bn Exposed balances Non-exposed balances USD 2.8bn USD 10.0bn Hedged balances Non-hedged balances USD 9.4bn USD 0.6bn USD 2.7bn USD 0.1bn Non-hedged Natural hedge Fixed Rate Deposits Fixed Rate Swaps balances f
Slide 65: Exposed and non-exposed 1H21 average balances by business
Exposed and non-exposed 1H21 average balances by business Margin income Margin income Business Activity 1H21 Balances (USD billions) Business Activity 1H20 Balances (USD billions) (USD millions) (USD millions) Exposed Non-exposed Exposed Non-exposed Register Maintenance 2.5 0.3 11.4 Register Mainten
Slide 66: Breakdown of 1H21 average exposed balances by currency
Breakdown of 1H21 average exposed balances by currency USD exposed balances continue to be the largest component Average exposed balances hedged AUD Average exposed balances prior to hedging 1% CAD USD 17% Other 26% AUD 4% 3% CAD USD 2.8bn 13% (USD 12.8bn x 21%) USD 12.8bn GBP (USD 17.6bn x 73%) 56%
Slide 67: Profile of our swap and fixed rate deposit book
Profile of our swap and fixed rate deposit book As at 31 December 2020 3,500 Fixed rate deposits Swaps 3,000 USD million 2,500 2,000 1,500 1,000 500 0 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 As at 30 June 2020 3,500 Fixed rate deposits Swaps 3,000 USD million 2,500 2,000 1,500 1,000 500 0 Jul-20 Jul-21 J
Slide 68: Profile of floating rate deposits
Profile of floating rate deposits As at 31 December 2020 4,000 3,000 USD million 2,000 1,000 0 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 As at 30 June 2020 4,000 3,000 USD million 2,000 1,000 0 Jul-20 Jul-21 Jul-22 Jul-23 Jul-24 68
Slide 69: Exchange rates
Exchange rates Currency 1H21 FY20 1H20 FY19 1H19 USD 1.0000 1.0000 1.0000 1.0000 1.0000 AUD 1.3971 1.4889 1.4623 1.3933 1.3734 HKD 7.7504 7.7999 7.8321 7.8405 7.8371 NZD 1.4975 1.5683 1.5504 1.4874 1.4893 INR 74.2471 71.9578 70.4405 70.4260 70.6855 CAD 1.3315 1.3391 1.3203 1.3252 1.3117 GBP 0.7711 0
Slide 70: Important notice
Important notice Summary information • This announcement contains summary information about Computershare and its activities current as at the date of this announcement. • This announcement is for information purposes only and is not a prospectus or product disclosure statement, financial product or