Infratil Limited · NZX:IFT
Infratil — Shareholder Meeting (August 2018)
33 slides from Infratil's shareholder meeting presentation, Aug 24, 2018
Slide 1: For personal use only
For personal use only
Slide 2: Infratil Annual Meeting Agenda
Infratil Annual Meeting Agenda For personal use only • Chairman’s Introduction • Chief Executive’s Review • Presentation of the Annual Report for the year ended 31 March 2018 and the report of the auditor • Questions from Shareholders • Resolutions • Close and Afternoon Tea InterContinental Hotel, 2
Slide 3: Mark Tume, Chair
Mark Tume Chair For personal use only • Independent Director since 2007 and Chair since 2013 • Member of the Audit and Risk Committee • Chair of Manager Engagement Committee • Chair of the Nomination and Remuneration Committee • Chair of RetireAustralia • Up for re-election 3 Infratil Annual Meeting
Slide 4: Marko Bogoievski, Director
Marko Bogoievski Director For personal use only • Chief Executive of Infratil and on the Board since 2009 • Chief Executive of the H.R.L. Morrison & Co Group • Chair of Longroad Energy • Not up for re-election 4 Infratil Annual Meeting 2018
Slide 5: Alison Gerry, Director
Alison Gerry Director For personal use only • Independent Director since 2014 • Chair of the Audit and Risk Committee • Member of Manager Engagement Committee • Member of the Nomination and Remuneration Committee • Director of Wellington International Airport • Not up for re-election 5 Infratil Annu
Slide 6: Paul Gough, Director
Paul Gough Director For personal use only • Independent Director since 2012 • Member of Manager Engagement Committee • Member of the Nomination and Remuneration Committee • Up for re-election 6 Infratil Annual Meeting 2018
Slide 7: Humphry Rolleston, Director
Humphry Rolleston Director For personal use only • Independent Director since 2006 • Member of Manager Engagement Committee • Not up for re-election 7 Infratil Annual Meeting 2018
Slide 8: Peter Springford, Director
Peter Springford Director For personal use only • Independent Director since 2016 • Member of Audit and Risk Committee • Member of Manager Engagement Committee • Not up for re-election 8 Infratil Annual Meeting 2018
Slide 9: Chief Executive’s Review
Chief Executive’s Review For personal use only
Slide 10: 2017/18 Year in review
2017/18 Year in review New platforms gathering momentum while core businesses deliver strong results For personal use only • Underlying EBITDAF of $552.4 million, up $32.9 million (6.3%) on the prior year of $519.5 million • Proprietary sector platforms now in place and are an important indicator of
Slide 11: Investing in “Ideas that Matter”
Investing in “Ideas that Matter” The cornerstone of Infratil’s approach to investment For personal use only • Infratil invests in critical infrastructure and essential services for countries, communities and individuals • Since 1994 Infratil has consistently sought to invest: - Where demographic or
Slide 12: Returns for shareholders matter
Returns for shareholders matter Infratil is positioned for further growth in net asset values For personal use only • Infratil’s goal is to provide Infratil Track Record shareholders good risk-adjusted 100% 50,000 returns across a diversified 80% 40,000 infrastructure portfolio: 60% 30,000 - Since i
Slide 13: Heading to a low emissions future
Heading to a low emissions future Building a global renewables platform For personal use only • Infratil has made a long-term commitment to renewables • Energy markets constantly face short-term political uncertainty, highlighting the benefits of market diversification • Infratil has developed a hig
Slide 14: Trustpower
Trustpower Well placed to capitalise on a renewable future For personal use only • Trustpower provides Infratil with strong cashflows, supporting growth platforms and broader development opportunities • Trustpower has a diverse and flexible portfolio of hydro generation assets, and a unique multi-pr
Slide 15: Tilt Renewables - a breath of fresh air
Australasian Renewables Tilt Renewables - a breath of fresh air For personal use only • Tilt’s pipeline of wind, solar and storage development options provides Infratil with significant investment opportunities in both Australia and New Zealand • Infratil remains positive around the long-term develo
Slide 16: Tilt Renewables - intention to make a takeover offer
Australasian Renewables Tilt Renewables - Infratil and Mercury’s announced intention to make a takeover offer For personal use only • On 15 August Infratil and Mercury announced their intention to make a full takeover offer for Tilt Renewables • Infratil and Mercury already respectively hold or cont
Slide 17: US Renewables - Longroad
US Renewables Opportunities reflect the dynamic character of the US electricity generation market For personal use only • Longroad provides Infratil with extensive investment opportunities across the renewable energy sector in a rapidly changing US market • Longroad recently confirmed the sale of it
Slide 18: Canberra Data Centres
Australasian data and connectivity - Canberra Data Centres Telco infrastructure is increasingly in the cross-hairs of infrastructure investors For personal use only • The data centre & telecommunications sectors continue to be driven by improved access and connectivity to high- speed broadband, and
Slide 19: Wellington Airport
Wellington Airport $300 million five-year capital programme to be completed in FY2019 For personal use only • Wellington Airport delivers strong cashflows while continuing to grow faster than underlying GDP • Continuing traffic increases and increased aircraft size are expected to require additional
Slide 20: NZ Bus
NZ Bus Long-term scale and stability secured for Auckland, Wellington and Tauranga For personal use only • NZ Bus provides reliable cashflows to Infratil, within a contract setting that has shifted risk away from bus operators and allowed the re-sizing of the business - NZ Bus has secured geographic
Slide 21: Australian Eldercare Services - RetireAustralia
Australian Eldercare Services - RetireAustralia Pursuing a strategy that will deliver contemporary, high-quality retirement living For personal use only • Investment rationale remains compelling as Australia’s aged population grows while investment in specialist accommodation and care is lagging • R
Slide 22: Perth Energy and Infratil Infrastructure Property
Perth Energy and Infratil Infrastructure Property Addressing performance, maximising value For personal use only Perth Energy • Significant progress in stemming retail losses with a positive earnings contribution expected in FY19 • Generation continues to provide valuable peaking capacity to the Per
Slide 23: 2018/2019 Outlook
2018/2019 Outlook Near term guidance maintained For personal use only Key Assumptions: • Trustpower FY19 EBITDAF guidance of FY2019 Guidance $M $205-$225 million Normalised Underlying EBITDAF 500-540 • Tilt Renewables FY19 EBITDAF guidance of Operating cashflow 210-250 A$120-A$127 million • WIAL FY1
Slide 24: Platform set for the next phase of capital growth
Infratil – platform set for the next phase of capital growth Pressure now on capital allocation and setting priorities across multiple opportunities For personal use only Converting the near-term pipeline into cash or tangible net assets: • Have worked hard to establish multiple accretive options •
Slide 25: Presentation of the Annual Report and auditor’s report
For personal use only Presentation of the Annual Report for the year ended 31 March 2018 and the report of the auditor
Slide 26: Questions from Shareholders?
For personal use only Questions from Shareholders?
Slide 27: Resolutions
For personal use only Resolutions
Slide 28: Resolution: Re-election of Mr Mark Tume
Resolution 1 Re-election of Mr Mark Tume For personal use only Re-election of Mr Mark Tume: That Mark Tume be re-elected as a director of the Company. For Against Discretionary 181,914,812 (89.22%) 18,585,757 (9.12%) 3,393,442 (1.66%) 28 Infratil Annual Meeting 2018
Slide 29: Resolution: Re-election of Mr Paul Gough
Resolution 2 Re-election of Mr Paul Gough For personal use only Re-election of Mr Paul Gough: That Paul Gough be re-elected as a director of the Company. For Against Discretionary 200,819,298 (98.27%) 124,178 (0.06%) 3,408,250 (1.67%) 29 Infratil Annual Meeting 2018
Slide 30: Resolution: Directors’ remuneration
Resolution 3 Directors’ remuneration For personal use only Directors’ remuneration: That the aggregate maximum remuneration payable to all Directors (in their capacity as a director of the Company or any of its subsidiaries) be increased by $59,046 from $940,923 to $999,969 per annum (plus GST or VA
Slide 31: Resolution: Auditor’s remuneration
Resolution 4 Auditor’s remuneration For personal use only Auditor’s remuneration: That the Board be authorised to fix the auditor’s remuneration. For Against Discretionary 193,235,588 (94.57%) 7,683,822 (3.76%) 3,412,962 (1.67%) 31 Infratil Annual Meeting 2018
Slide 32: For personal use only
For personal use only 24 August 2018
Slide 33: For more information
For more information www.Infratil.com For personal use only 33 Infratil Annual Meeting 2018