Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — H1 2013 Earnings Presentation
15 slides from Washington H. Soul Pattinson And's earnings presentation, Mar 21, 2013
Slide 1: Review of Operations: Group Performance, Consolidated Results
For personal use only Review of Operations Half Year Ended 31 January 2013 Group Performance Consolidated Results Half Year Ended 31 January 2013 • Profit before tax $134.3m, up 3%. (One-off tax benefit for New Hope Corporation in 2012) • Regular profit* was $71.4m, down 19%. • Reduced contribution
Slide 2: Consolidated Results and Interim Dividend History
Group Performance For personal use only Consolidated Results Half Year Ended 31 January 2013 • Profit was $74.3m. • Decrease of 25% compared to 1st half 2012. • Net profit on non-regular items for the half was $2.8m. 3 Interim Dividend History Interim Dividend 18 cents per share, up 5.9% 20 Year Int
Slide 3: WHSP Listed Equity Investments
WHSP (Parent Company) For personal use only Listed Equity Investments (including controlled entities & associates) • Market value of the portfolio was $4.25bn, up 15% since 31 July 2012. (after adjusting for Exco Resources which was delisted) • Takeover of Exco Resources. • $83 million was invested
Slide 4: New Hope Corporation Limited
Controlled Entities For personal use only New Hope Corporation Limited Half Year Ended 31 January 2013 59.7% held • Net profit before tax was $93.2m, • Net profit after tax was $68.8m, previous corresponding period $101.1m. (One-off tax benefit in 2012) • Result was adversely impacted by:- • lower e
Slide 5: New Hope Production and Queensland Bulk Handling
Controlled Entities For personal use only New Hope Corporation Limited • Total Production Volumes were 3.02Mt, down 5.2% Due to: • Planned shutdown over Christmas/New Year. • Higher than normal wet weather. • Export Sales Volumes were 2.74Mt, down 13.4% • Record sales in 2012 following 2011 floods.
Slide 6: New Hope Development Projects and Bridgeport Energy
Controlled Entities For personal use only New Hope Corporation Limited Development Projects • Queensland Government has accepted a revised proposal for the continuation of operations at Acland. • A revised Environmental Impact Study is underway. Carbon Conversion Projects • Construction of the indir
Slide 7: New Hope Outlook and CopperChem
Controlled Entities For personal use only New Hope Corporation Limited Outlook • Weak coal markets and a resilient exchange rate will have a negative impact on the 2nd half of FY2013. • Cost reduction initiatives have been implemented. • Coal production and sales are expected to be 5.8 to 6.0Mt for
Slide 8: CopperChem Limited
Controlled Entities For personal use only CopperChem Limited Half Year Ended 31 January 2013 • Production was hampered by a lack of process water and sulphide ore. • Permanent water source now secured, resolving the water shortage. • Sulphide ore issue is being managed by the development and sequent
Slide 9: Exco Resources Limited
Controlled Entities For personal use only Exco Resources Limited 100% held • Takeover by WHSP completed on 28 December 2012. • $83.2m invested during the half year. • Total of $101.9m invested. • At takeover: • Debt free. • Cash reserves > $45m. • WHSP received a $13m special dividend in FY2012. 17
Slide 10: Pitt Capital Partners and Australian Pharmaceutical Industries
Controlled Entities For personal use only Pitt Capital Partners Limited 100% held Half Year Ended 31 January 2013 • PCP is a corporate advisory firm specialising in mergers and acquisitions, strategic advice, equity and debt raisings and restructuring. • Development of a real estate investment and a
Slide 11: Brickworks and TPG Telecom
Associated Entities For personal use only Brickworks Limited 44.4% held Half Year Ended 31 January 2013 • Normalised Profit After Tax was $56.0m, increase of 13.1%. • Total Profit After Tax was $56.1m, increase of 3.7%. (results include equity accounted contribution from WHSP). • Interim Dividend of
Slide 12: TPG Telecom
Associated Entities For personal use only TPG Telecom Limited Half Year Ended 31 January 2013 • Consumer broadband subscribers up 36,000. (driven by broadband/home phone bundle plans) • Mobile subscribers up 48,000. • Subscribers as 31 January 2013: • Broadband 631,000. • Mobile 303,000. 23 Associat
Slide 13: Ruralco Holdings and BKI Investment Company
Associated Entities For personal use only Ruralco Holdings Limited 23.5% held Year Ended 30 September 2012 • Revenue for the year was $1.14bn, up 13.3%. • Profit After Tax $13.8m, down 7.5%. • Final Dividend 10 cents fully franked, Total for the year 20 cents fully franked up 11.1%. • Contributed $9
Slide 14: Clover Corporation and Ampcontrol
Associated Entities For personal use only Clover Corporation Limited Half Year Ended 31 January 2013 28.6% held • Sales revenue of $20.2m up 12.5% on the 1st half last year. • Net Profit After Tax was $2.7m, up 56.6% on the 1st half last year. • Interim dividend of 0.5 cents. • Contributed $0.7m to
Slide 15: Apex Healthcare Berhad
Associated Entities For personal use only Apex Healthcare Berhad (Incorporated in Malaysia) Year Ended 31 December 2012 30.3% held • Manufacturer, distributor and retailer of pharmaceutical and healthcare products. • Operates in Singapore, Malaysia, Vietnam and Indonesia. • Revenue of $124.5m, up 9.
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