Slide 1: 2011 Final Results Presentation
For personal use only 16 September 2011 Australian Securities Exchange Company Announcements Platform 2011 Final Results Presentation Please find attached the 2011 Final Results Presentation, updated from the version lodged on the ASX on 19 August 2011 to amend formatting inconsistencies. Yours fait
Slide 2: Result Announcement for the full year ending 30 June 2011
For personal use only Result Announcement for the full year ending 30 June 2011 Centuria Capital Limited Presentation to Investors and Analysts updated 13 September 2011
Slide 3: 2011 Financial Year Highlights
2011 Financial Year Highlights For personal use only Realising our Growth Strategy Property FUM increase by 40% during financial year $1 billion property FUM milestone achieved Total group FUM increased by 16% to $1.93 billion Brand Consolidation Rebranding to Centuria completed - core divisions now
Slide 4: 2011 Key Business Highlights
2011 Key Business Highlights For personal use only Implementing growth strategy - increasing FUM Growth in group FUM in 2011 by 16% Total Funds Under Management ($bn) 2.50 2.00 Reverse Mortgage 1.50 FUM ($bn) Centuria 1.00 Life FUM ($bn) 0.50 Centuria Property FUM ($bn) - 2007 2008 2009 2010 2011 Ce
Slide 5: 2011 Key Business Highlights
2011 Key Business Highlights For personal use only Successful brand consolidation to Centuria – taking us from a collection of companies, to a single diversified funds manager. Centuria Property Funds successfully completed two major property funds and was awarded the management rights for a major n
Slide 6: 2011 Key Business Highlights
2011 Key Business Highlights For personal use only Ongoing focus on Capital Management * Continued low level of corporate gearing (excluding non recourse debt and convertible notes). Successful completion of unmarketable parcel buy-back reducing the number of shareholders by 29% to ~16,000 at presen
Slide 7: Divisional Revenue
Divisional Revenue (excl. Benefit Funds) For personal use only , Year ended 30 June 2011 2011 2010 $000’s $000’s Centuria Life 13,453 14,030 Reverse Mortgages 16,294 16,781 Centuria Property Funds 13,015 11,419 Insurance 1,341 1,319 Other (i) 4,012 5,413 48,115 48,962 (1) Includes Corporate, Propert
Slide 8: Underlying Results
Underlying Results (excl. Benefit Funds) For personal use only , Year ended 30 June 2011 2011 2010 Underlying net profit by major division $000’s $000’s - Centuria Property Funds 4,755 5,378 - Centuria Life 9,137 8,925 - Reverse Mortgages 3,495 3,130 - Insurance 1,037 1,011 - Corporate (8,601) (6,20
Slide 9: Significant and Non-recurring Items
Significant and Non-recurring Items (excl. Benefit Funds) For personal use only , Year ended 30 June 2011 2011 2010 $000’s $000’s Underlying earnings after tax 6,357 7,834 Non-recurring adjustments - Prior year non-recurring adjustments (including tax effect) - (1,516) - Impairment of investment in
Slide 10: Centuria Property Funds
Centuria Property Funds For personal use only Strong Growth in FUM Property Funds Under Management ($bn) Operating EBIT contribution $4.8m. 1.50 Consistent with Centuria’s growth 1.00 Property FUM strategy, property FUM has increased ($bn) Centuria 200 Creek Street Fund 0.50 40% from 30 June 2010 to
Slide 11: Centuria Property Funds (continued)
Centuria Property Funds (continued) For personal use only Key Achievements (continued) Responsible Entity appointment to Becton Office Fund No 2 (now COF2) and Becton Diversified Direct Property Fund (now CDDPF) – resulting in significant accretive earnings to Centuria shareholders as well as increa
Slide 12: Centuria Life
Centuria Life For personal use only Strategic appointment of Head of Marketing and Distribution to focus on growth of existing products and opportunities for new investment solutions. The Centuria Life division continues to generate strong and stable cash earnings to the Centuria Group. FUM balance
Slide 13: Insurance
Insurance For personal use only Continued consistent contributor to Centuria Group earnings – 2011 EBIT $1.04m. Maintained high customer retention over time. Continued Strong Customer Retention Rate 92% 90% 88% 86% 84% 82% 80% 78% 2006 2007 2008 2009 2010 2011 Over Fifty Insurance Home Over Fifty In
Slide 14: Reverse Mortgages
Reverse Mortgages For personal use only Value of mortgage book at 30 June 2011 - $192 million (30 June 2010: $197 million). Non-recourse loan at 30 June 2011 - $165 million (30 June 2010: $176 million). Loan facility maturity date extended to 31 March 2013. Significant embedded shareholder equity in
Slide 15: 12-month Outlook
12-month Outlook For personal use only Centuria businesses are increasingly well positioned to benefit from future growth Ongoing volatility in financial markets will create weaker asset prices and further accretive acquisition opportunities. Strength in diversity Core strength in diversification of
Slide 16: Future Growth
Future Growth For personal use only Centuria Capital is currently implementing an aggressive growth strategy to take advantage of acquisition opportunities in the current market. Centuria Capital has been, and is currently reviewing a number of potential corporate or funds management acquisition opp
Slide 17: Appendices: Statutory Account Reconciliations
Appendices Statutory Account Reconciliations For personal use only General comment on statutory account reconciliation The “Statutory Accounts” show the consolidated corporate entities including the Benefit Funds which Centuria is required under AIFRS to consolidate. The “Benefit Funds” reflect valu
Slide 18: Appendix 1: Income Statement
Appendix 1: Income Statement for year ended 30 June 2011 For personal use only Statutory Accounts Benefit Funds Corporate Accounts $m $m $m Revenue 33 - 33 Revenue from Centuria Life 13 - 13 Net revenue from benefit funds 4 4 - Other income 2 - 2 Total revenue 52 4 48 Finance costs 17 - 17 Employee
Slide 19: Appendix 2: Balance Sheet
Appendix 2: Balance Sheet as at 30 June 2011 For personal use only Statutory Accounts Benefit Funds Corporate Accounts $m $m $m Assets: Cash and Equivalents 12 - 12 Trade and other receivables 11 - 11 Financial assets at fair value 2 - 2 Other financial assets 6 - 6 Reverse Mortgage Loans 192 - 192
Slide 20: Appendix 2: Balance Sheet (continued)
Appendix 2: Balance Sheet as at 30 June 2011 (continued) For personal use only Statutory Accounts Benefit Funds Corporate Accounts $m $m $m Liabilites: Trade and other payables 5 - 5 Corporate debt 9 - 9 Borrowings – recourse to investment property only 23 - 23 Borrowings - Reverse Mortgages 165 - 1
Slide 21: Appendix 3: Cash Flow Statement
Appendix 3: Cash Flow Statement for year ended 30 June 2011 For personal use only ) Statutory Accounts Benefit Funds Corporate Accounts $m $m $m Cash flows from operating activities Interest received 1 - 1 Dividends received - - - Management fees received 19 - 19 Rent, trust and other income receive
Slide 22: Appendix 3: Cash Flow Statement (continued)
Appendix 3: Cash Flow Statement for year ended 30 June 2011 (continued) For personal use only Statutory Accounts Benefit Funds Corporate Accounts $m $m $m Cash flows from financing activities Proceeds from issue of equity securities 2 - 2 Loans from related entities (4) - (4) Benefit funds (6) (6) -
Slide 23: Disclaimer
Disclaimer For personal use only This document has been issued by Centuria Capital Limited This document is not a recommendation or personal advice ABN 22 095 454 336 and contains general information about in relation to Centuria or any product or service offered by Centuria Capital Limited and its