Lsl Property Services Plc · LSE:LSL
Lsl Property Services — FY2011 Earnings Presentation
21 slides from Lsl Property Services's earnings presentation, March 2012
Slide 1: Preliminary Results Presentation
Preliminary Results Presentation Year ended 31 December 2011 March 2012 1
Slide 2: Executive Summary
LSL Property Services plc Year end results presentation March 2012 Executive Summary 2011 a year of investment and strong progress for the group, despite on going low level of transactions - Underlying group operating profit £31.1m after investment costs - Dividend increased for full year by 3.6% to
Slide 3: Progress Highlights
LSL Property Services plc Year end results presentation March 2012 Progress Highlights Agency – Asset Agency – Financial Surveying Agency – Branches Management Services LSL Market leader #2 in market Market leader #4 in market position 2011 market 2011 2011 market up 2% Approvals up 3% 2011 market d
Slide 4: Financial Performance
LSL Property Services plc Financial Performance
Slide 5: Summary Group Financials
LSL Property Services plc Year end results presentation March 2012 Summary Group Financials Actual EBITA £m 2011 2010 P&L EBITA margin (%) Revenue 218.4 206.6 5.7% EBITA (£m) Underlying Group Operating Profit(1) 31.1 31.9 (2.5%) Margin 14.3% 15.4% Exceptionals (2.4) 10.2 Net Finance Costs (1.8) (2.2
Slide 6: Financial Performance – Surveying
LSL Property Services plc Year end results presentation March 2012 AWARD Financial Performance – S - Winner Best Surveyor/Valuer Surveying Surveying Segment 2011 2010 Robust performance against strong 2010 Mortgage approvals ‘000 1,226 1,203 2% lender comparatives Jobs ‘000 500 531 (6%) Turnover £m
Slide 7: Financial Performance – Estate Agency
LSL Property Services plc Year end results presentation March 2012 Financial Performance – Estate Agency AWARD Market 2011 2010 Inc/ (dec) S House Puchase Mortgage Approvals (Jan – Dec) 593,000 575,000 3% -Winner Best Broker for protection (Linear) KPIs 2011 2010 Inc / (dec) -Winner Best Mortgage Ex
Slide 8: Financials – Cashflow and Debt
LSL Property Services plc Year end results presentation March 2012 Financials – Cashflow and Debt £m 2011 2010 Operating Cashflows Operating Profit 31.1 31.9 Continued Strong Cash Generation Depreciation 2.6 1.8 PI payments (4.0) (2.7) PI – acceleration in rate of payout against Share of JV results
Slide 9: Market and Strategy
LSL Property Services plc Market and Strategy
Slide 10: Mortgage Market Overview
LSL Property Services plc Year end results presentation March 2012 Mortgage Market Overview House Purchase Approvals Annual Growth in Mortgage Approvals (’000) (%) House Purchase Approvals Total Mortgage Approvals 593,000 2011 up 3% (m) Annual growth rate -4% H1 but +10% H2 2011 Total Mortgage Appro
Slide 11: Strategy
LSL Property Services plc Year end results presentation March 2012 Strategy Agency – Asset Agency – Financial Surveying Agency – Branches Management Services LSL position Market leader #2 in market Market leader #4 in market Market share Continued growth Value Added Continued market in mortga
Slide 12: Surveying: Operations and Development
LSL Property Services plc Year end results presentation March 2012 Surveying: Operations and Development Market Share Operational Update Surveying Market Share High service levels maintained and regular positive feedback from all key clients ’000 2008 2009 2010 2011 Additional investment in service
Slide 13: Estate Agency – Market share growth
LSL Property Services plc Year end results presentation March 2012 Estate Agency – Market share growth Market share Key initiatives Additional £6.1m revenue investment in Measures LSL exchanges v Bank of England agency including mortgage approvals ‘The Bridge’ call centre service Share increased fro
Slide 14: Marsh and Parsons
LSL Property Services plc Year end results presentation March 2012 Marsh and Parsons Leading Central London Estate Agency established in 1856 14 offices in West and South West London – 5 in the Royal Borough of Kensington and Chelsea Balanced business model – Residential Sales and Lettings Highly ex
Slide 15: Marsh and Parsons
LSL Property Services plc Year end results presentation March 2012 Marsh and Parsons Benefits to LSL - Exposure to economically attractive prime central London market - Trusted premium brand - High quality management team with exciting growth plans for the business - Opportunities for synergies - Fu
Slide 16: Estate Agency – Counter Cyclical Income
LSL Property Services plc Year end results presentation March 2012 Estate Agency – Counter Cyclical Income Total Asset Management & Lettings income up 11% to £43m Balanced Growth: Asset Management and Lettings Lettings up 18% Asset Management income flat against declining market Significant asset ma
Slide 17: Financial Services
LSL Property Services plc Year end results presentation March 2012 Financial Services Investment in the FS channel has helped to strengthen LSL’s relationship with key lender clients LSL position transformed during 2011 Acquisitions of two loss making businesses in 2010 Successful integration of
Slide 18: Summary
LSL Property Services plc Year end results presentation March 2012 Summary Key areas of focus and growth opportunities Surveying - Contract retention in B2B - Expansion of private survey services Estate Agency - Increasing branch profitability through growth of market share, average fee, lettings an
Slide 19: Appendices
LSL Property Services plc Appendices
Slide 20: LSL’s Genesis
LSL Property Services plc Year end results presentation March 2012 LSL’s Genesis LSL’s business transformation from a loss making insurance distribution arm Key Events July 2001 October July February January January November New Acquisition Acquisition of onwards First Complete Completion on Complet
Slide 21: Who are We Now?
LSL Property Services plc Year end results presentation March 2012 Who are We Now? LSL Property Services plc Residential Property Buyers and Sellers Customer Capture Estate Agency and Strategic Business Surveying Financial Services Cross Surveying Surveying Selling Surveying Current Surveyors (Emplo