Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — FY2013 Earnings Presentation
19 slides from Washington H. Soul Pattinson And's earnings presentation, Sep 19, 2013
Slide 1: Review of Operations – Group Performance: Regular Profit
For personal use only Review of Operations Year Ended 31 July 2013 Group Performance Consolidated Results – Regular Profit Year Ended 31 July 2013 • Regular Group Profit* was $160.7m, marginally lower than 2012, $161.6m** • Higher contributions from: • Brickworks • TPG Telecom • Improved result for
Slide 2: Group Performance – Consolidated Results
Group Performance For personal use only Consolidated Results Year Ended 31 July 2013 • Total Group Profit was $105.4m. • Decrease of $37.6m compared to 2012. • Net loss on non-regular items of $55.2m, up $36.6m. • Impairments by New Hope of its investments $30.7m. 3 Group Performance Profit After Ta
Slide 3: Dividend History
Dividend History Final Dividend 28 cents per share, up 3.7% For personal use only Total Dividends of 46 cents for the year, up 4.5% 25 Year Dividend History 25 Cents per Share 12.5 15 15 5 44 46 5 40 5 32 34 30 4 25 27 28.5 3.5 20 17 12 14 10 10 11 5 6 7 0.6 2 2 3 3 3 3 Total Ordinary Dividends Spec
Slide 4: WHSP Listed Equity Investments
WHSP (Parent Company) For personal use only Listed Equity Investments (excluding controlled entities & associates) • Ordinary dividend income was $20.8m, up 2.3%. • Interest income was $13.5m, down $5.3m. 7 WHSP (Parent Company) Listed Equity Investments (including controlled entities & associates)
Slide 5: New Hope Corporation Limited
Controlled Entities For personal use only New Hope Corporation Limited Year Ended 31 July 2013 59.7% held • Net profit after tax before non-recurring items was $125.0m, down 27%. • Impairment of investments $51.4m: • Dart Energy • Westside Corporation • Quantex Group. • Net profit after tax was $74.
Slide 6: New Hope Corporation Limited
Controlled Entities For personal use only New Hope Corporation Limited • Final Dividend of 5 cents per share fully franked, 5 cents last year. • Special Dividend of 5 cents per share fully franked. • Total Special Dividends of $1.3 billion since listing. • Contributed $44.2m to Group profit. 11 Cont
Slide 7: New Hope – Bulk Handling, Pastoral, Carbon Conversion
Controlled Entities For personal use only New Hope Corporation Limited Queensland Bulk Handling • Throughput for the year of 8.73Mt, similar to 2012. • Impacted by rail outage. • QBH continues to be an essentially demurrage free port. Pastoral Operations • Early results of cattle grazing trials on r
Slide 8: New Hope Outlook; CopperChem and Exco Resources
Controlled Entities For personal use only New Hope Corporation Limited Outlook • Cost reduction initiatives delivering significant savings. • Production and sales for 2014 are likely to be slightly lower. • Port operations, marginal increase in exports expected. • Coal prices forecast to remain weak
Slide 9: CopperChem Limited and Exco Resources Limited
Controlled Entities CopperChem Limited and For personal use only Exco Resources Limited CopperChem • Initiated mining from two additional open cut mines. • Copper concentrator throughput increased from its 60 tonnes per hour design capacity to 100 tonnes. • Heap leach operation affected by a severe
Slide 10: Exco-CopperChem Alliance
Controlled Entities CopperChem Limited and For personal use only Exco Resources Limited Exco-CopperChem Alliance • Access to sulphide and oxide ores located on 3,000km² of tenements in the region. • Potential to provide ore to CopperChem’s plant for the next decade. • Mt Colin Open-Cut Copper-Gold d
Slide 11: Pitt Capital Partners; Australian Logistics Property Fund
Controlled Entities For personal use only Pitt Capital Partners Limited 100% held Year Ended 31 July 2013 • PCP is a corporate advisory firm specialising in mergers, strategic advice, equity capital markets, private equity, restructuring and debt advisory work. • Holding in Pitt Street Real Estate P
Slide 12: Erskine Park NSW photos
For personal use only Erskine Park NSW August 2013 23 Erskine Park NSW September 2013 24 12
Slide 13: ALPF; Australian Pharmaceutical Industries
Controlled Entities ALPF Australian Logistics Property Fund For personal use only Australian Logistics Property Fund 100% held • Erskine Park NSW 45% complete at year end. • Brendale Qld earth works were underway at year end. • $47.0 million invested by WHSP at year end. • Pitt Street Real Estate Pa
Slide 14: Associated Entities: Brickworks and TPG Telecom
Associated Entities For personal use only Brickworks Limited 44.4% held Year Ended 31 July 2013 • Normalised Profit After Tax was $100.0m*, up 26.9%. • Total Profit After Tax was $85.2m*, up 96.7%. (*results include equity accounted contribution from WHSP) • Final Dividend of 27 cents per share full
Slide 15: TPG Telecom Limited
Associated Entities For personal use only TPG Telecom Limited Year Ended 31 July 2013 $m EBITDA $m Normalised* NPAT ¢ Normalised* EPS ¢ Dividends 300 150 20 8.0 15 6.0 200 100 10 4.0 100 50 5 2.0 0 0 0 0.0 FY09 FY10 FY11 FY12 FY13 FY09 FY10 FY11 FY12 FY13 FY09 FY10 FY11 FY12 FY13 FY09 FY10 FY11 FY12
Slide 16: TPG Telecom; Ruralco Holdings
Associated Entities For personal use only TPG Telecom Limited Year Ended 31 July 2013 • Cash from operations (pre-tax) of $317.8m. • Free cash flow of $174.5m (after tax, interest and CAPEX). • Net debt reduced by $107m down to $16m. • Final Dividend of 4 cents, total Dividends of 7.5 cents up 36% o
Slide 17: BKI Investment Company; Clover Corporation
Associated Entities For personal use only BKI Investment Company Limited Year Ended 30 June 2013 13.0% held • Net Operating Result (before special dividend income) was $29.9m, up 8.0%. • BKI’s Share Price Performance* for the year was 29.4%, outperforming the S&P/ASX 300 Accumulation Index by 7.5%.
Slide 18: Ampcontrol; Apex Healthcare Berhad
Associated Entities For personal use only Ampcontrol Pty Limited 43.3% held Year ended 30 June 2013 • Provides electrical products and services to the mining sector, in particular underground coal mining. • Operations across Australia, Hong Kong, China, New Zealand, South Africa, Botswana, Russia, U
Slide 19: A Diversified Investment House
For personal use only Washington H. Soul Pattinson and Company Limited “A Diversified Investment House” 19
Washington H. Soul Pattinson and Company — FY2013 Earnings Presentation on 6ix