23 slides from Fiera Capital Corporation Class A's earnings presentation, Mar 23, 2018
Slide 1: 2017 Q4 Results
MARCH 23, 2018 2017 Q4 Results JEAN-GUY DESJARDINS VINCENT DUHAMEL JOHN VALENTINI Chairman of the Board and Global President and EVP, Global Chief Financial Officer and Chief Executive Officer Chief Operating Officer President of the Private Alternative Investments division
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements The accompanying Investor Presentation contains forward-looking information, including future-oriented financial information and financial outlooks within the meaning of Canadian securities laws and regulations. Forward-looking information may include com
Slide 3: Business Overview
Business Overview AUM of $128.9 billion as at December 31, 2017. $11.2B in new clients AUM for the year. Traction from new Active and Fixed Income team. Acquisition of an Asia-focused emerging markets mutual fund. Bel Air AUM increase of 15% year-over-year. Strong performance of emerging markets str
Slide 4: Overview – Acquisition of CGOV Asset Management
Overview – Acquisition of CGOV Asset Management STRATEGIC RATIONALE Increases Canada high net worth by $2 billion 400 clients across Canada Increases institutional assets by $3 billion Currently serving 45 institutions Complementary investment strategies Significant cross-selling opportunities for c
Slide 5: Overview – Clearwater Capital Partners
Overview – Clearwater Capital Partners STRATEGIC RATIONALE Creates Asia-Pacific growth platform Complements existing suite of private alternative investment strategies Direct lending, stressed credit, distressed credit and special situations Provides cross-selling opportunities in Asia as well as in
Slide 6: Quarterly Financial Highlights: Quarter-over-Quarter
Quarterly Financial Highlights: Quarter-over-Quarter AUM of $ 128.9 billion, up 4.8%. Base management fees of $105.4 million, up 4%. Adjusted EBITDA1 of $36.1 million, up 33%. Adjusted EPS1 of $0.32 compared to $0.27. Net earnings per share of $0.01, compared to $0.06. 1 Adjusted EBITDA and adjusted
Slide 7: Financial Highlights: Quarter-over-Quarter
Financial Highlights: Quarter-over-Quarter Q4-2017 Q3-2017 Variation $ $ Total AUM 128.9B 123.0B 5% Total Revenues 142.1M 107.1M 33% Base Management Fees 105.4M 101.0M 4% Total Performance Fees 31.2 1.6M +100% Other Revenues 5.5 4.5M 22% Adjusted EBITDA1 36.1M 27.0M 33% Net Earnings 0.8M 4.6M -80% A
Slide 8: Financial Highlights: Year-over-Year
Financial Highlights: Year-over-Year Q4-2017 Q4-2016 Variation $ $ Total AUM 128.9B 116.9B 10% Total Revenues 142.1M 121.0M 17% Base Management Fees 105.4M 85.1M 24% Total Performance Fees 31.2 31.6M -1% Other Revenues 5.5 4.3M 28% Adjusted EBITDA1 36.1M 41.6M -13% Net Earnings 0.8M 5.2M -83% Attrib
Slide 9: Revenue Trend – Quarterly & Last Twelve Months
Revenue Trend – Quarterly & Last Twelve Months 9
Slide 10: Adjusted EBITDA ($) & Margin (%) Trend
Adjusted EBITDA ($) & Margin (%) Trend 1 Adjusted EBITDA and adjusted EBITDA per share, adjusted EBITDA margin are not standardized measures prescribed by IFRS. These non-IFRS measures do not have any standardized meaning and may not be comparable to similar measures presented by other companies. Pl
Slide 11: Average BPS Evolution vs AUM
Average BPS Evolution vs AUM 11
Slide 12: LTM EBITDA ($), LTM Adjusted EBITDA ($) and Margin (%) Trend
LTM EBITDA ($), LTM Adjusted EBITDA ($) and and Margin (%) Trend 1 Adjusted EBITDA and adjusted EBITDA per share, adjusted EBITDA margin are not standardized measures prescribed by IFRS. These non-IFRS measures do not have any standardized meaning and may not be comparable to similar measures presen
Slide 13: Rolling LTM Dividends, Adjusted Net Earnings Per Share and Net Earnings Per Share
Rolling LTM Dividends, Adjusted Net Earnings Per Share and Net Earnings Per Share 1 Adjusted net earnings and adjusted net earnings per share are not standardized measures prescribed by IFRS. These non-IFRS measures do not have any standardized meaning and may not be comparable to similar measures p
Slide 14: AUM and Revenues Breakdown – by Geography
AUM and Revenues Breakdown – by Geography AUM as of December 31, 2017 Revenues FY 2017 $128.9B $459.1M 14
Slide 15: Dividends
Dividends Quarterly Dividends Declared per Participating Share 15
Slide 16: Investment Performance (December 31, 2017)
Investment Performance (December 31, 2017) Traditional Strategies – Fixed Income and Balanced Annualized Rates of Return 5 YEARS OR INCEPTION BENCHMARK 1 YEAR SINCE INCEPTION1 YEAR NAME Return (%) Added Value (%) Return (%) Added Value (%) FIXED INCOME Active Fixed Income Universe 2.53 0.02 2.86 -0.
Slide 17: Investment Performance (December 31, 2017)
Investment Performance (December 31, 2017) Traditional Strategies – Equity Annualized Rates of Return 5 YEARS OR INCEPTION BENCHMARK 1 YEAR SINCE INCEPTION YEAR NAME Return (%) Added Value (%) Return (%) Added Value (%) Canadian Equity 10.18 1.09 12.421 3.791 2013 S&P/TSX Composite Canadian Equity C
Slide 18: Investment Performance (December 31, 2017)
Investment Performance (December 31, 2017) Alternative Strategies Annualized Rates of Return 5 YEARS OR INCEPTION BENCHMARK 1 YEAR SINCE INCEPTION1 YEAR NAME Return (%) Return (%) North American Market Neutral Fund -3.94 5.89 2007 Absolute Return Long / Short Equity Fund -10.38 14.32 2010 Absolute R
Slide 19: Outlook
Outlook Investing in our future with our 2022 Strategic Plan. Pursuing growth plan organically and through acquisitions. Developing and enhancing our suite of private alternatives solutions remains a priority. Pipeline of 12 to 15 potential strategic acquisition targets. Disciplined approach to prof
Slide 20: Question Period
Question Period WW Wo
Slide 21: Daniel Richard
Daniel Richard Senior Vice President, Corporate Communications and Investor Relations Fiera Capital drichard@fieracapital.com T 514 954-6456 21
Slide 22: Thank You
Thank You WW hs il
Slide 23: fieracapital.com
fieracapital.com