Australian Unity Ltd · ASX:AYUPA
Australian Unity — Debt Investor Presentation (November 2020)
34 slides from Australian Unity's debt investor presentation, Nov 27, 2020
Slide 1: ASX Announcement
ASX Announcement 27 November 2020 Australian Unity Mutual Capital Instruments Investor Presentation Please find attached the Investor Presentation relating to Australian Unity Limited’s offer of Mutual Capital Instruments. -end- This announcement has been authorised for distribution to the ASX by: T
Slide 2: U.S. securities law notice
the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state or other jurisdiction of the United States. Accordingly, the Australian Unity MCIs may not be offered or sold, directly or indirectly, to persons in the United States unless they have been reg
Slide 3: Investor presentation: Inaugural offer of mutual capital instruments
Australian Unity Limited Investor presentation Inaugural offer of mutual capital instruments
Slide 4: Important information
Important information The information contained in this document has been prepared by Australian Unity Limited ABN 23 087 648 888 (“Company”) in connection with a proposed offer of Australian Unity mutual capital instruments (“Offer” and “Australian Unity MCIs”). The Offer is being made under a pros
Slide 5: Agenda
Agenda Slide reference 1. Information about Australian Unity 4 2. Summary of Australian Unity MCIs 12 3. Overview of the Offer 23 4. Appendix 27 AUL investor presentation – Offer of Australian Unity mutual capital instruments 3
Slide 6: 1. Information about Australian Unity
1. Information about Australian Unity AUL investor presentation – Offer of Australian Unity mutual capital instruments 4
Slide 7: Australian Unity
Australian Unity A mutual organisation with over 180 years of history • Australian Unity’s history traces back to 1840, when eight people came together in a Melbourne pub to form a friendly society to help fellow Australians in times of hardship. • Through strategic mergers and diversifications into
Slide 8: Australian Unity Group portfolio
Australian Unity Group portfolio Diversified portfolio of operating businesses, segmented into three platforms Independent & Assisted Retail Wealth & Capital Markets Living • Home & disability • Advice • Health insurance services • Banking • Investments Principal • Aboriginal activities of services
Slide 9: Australian Unity today
Australian Unity today Diversified business with a strong track record of profitable growth • Australian Unity’s portfolio of thematically linked businesses endeavour to foster individual and community wellbeing while also delivering commercial returns. • Continued commercial and financial disciplin
Slide 10: Social impact and purpose
Social impact and purpose Australian Unity – supporting individuals and communities to thrive • Delivering value to members, Australian Unity’s CSV framework customers, employees and the broader community is a hallmark Impact areas Description Example outcome of the Australian Unity Group. • Through
Slide 11: Business strategy
Business strategy Meeting Australia’s future Australia’s population is expected to both grow and age2 wellbeing needs Total population (m) Population by age group (m) • Australian Unity’s strategic agenda reflects a +24% +56% growing demand amongst its members and customers for valued health, wealth
Slide 12: Financial profile
Financial profile Consolidated statement of comprehensive income Australian Unity MCI Dividend Payout Ratio1 $m FY20 $m FY18 FY19 FY20 Revenue and other income 1,412.7 Pro forma Australian Unity MCI 5.0 5.0 5.0 Dividends payable for the year Expenses, excluding finance costs (1,382.1) Operating prof
Slide 13: Financial profile
Financial profile Pro forma consolidated balance sheet 30 June 2020 debt maturity profile ($m) 250 30 June Pro forma Pro $m 2020 adjustments forma 200 Cash and cash equivalents 1,036.7 96.0 1,132.7 Total current assets 3,316.3 96.0 3,412.3 150 Total non-current assets 3,160.2 3,160.2 Total assets 6,
Slide 14: 2. Summary of Australian Unity MCIs
2. Summary of Australian Unity MCIs AUL investor presentation – Offer of Australian Unity mutual capital instruments 12
Slide 15: About mutual capital instruments
About mutual capital instruments • Mutual capital instruments are a specific type of security that was developed to provide mutual entities with a means to raise permanent capital without giving up their status as a mutual entity. • Issuing mutual capital instruments has been a long-term focus for A
Slide 16: Key features of Australian Unity MCIs
Key features of Australian Unity MCIs • Australian Unity is a mutual organisation with a core purpose of providing health, wealth and care products and Issuer with purpose services that deliver community and social value • Perpetual shares with no rights for Holders to require repurchase or redempti
Slide 17: Key differences between MCIs and certain other securities
Key differences between Australian Unity MCIs and certain other securities Please refer to Section 2.2 of the Prospectus for further information on the differences between Australian Unity MCIs and certain other securities. Australian bank Tier 1 Senior bonds Australian Unity MCIs Ordinary shares hy
Slide 18: Key terms of Australian Unity MCIs
Key terms of Australian Unity MCIs1 Security • Perpetual, fully paid mutual capital instruments Issue size • $100 million, with the ability to raise more or less Issue price • $100 per Australian Unity MCI Face value • $100 per Australian Unity MCI • To be determined through the Bookbuild, expected
Slide 19: Key terms of Australian Unity MCIs continued
Key terms of Australian Unity MCIs continued1 Holder exit rights • A Holder has no right to request or require repurchase of Australian Unity MCIs • The Issuer has the right to Repurchase Australian Unity MCIs in accordance with a Repurchase Notice given at any time Issuer call rights if a Tax Event
Slide 20: Ranking of Australian Unity MCIs
Ranking of Australian Unity MCIs1 The table below illustrates how the Australian Unity MCIs would rank on a winding-up of Australian Unity, assuming that the Australian Unity MCIs have been issued. Existing debt obligations and Ranking Type of instrument Illustrative examples equity Employee entitle
Slide 21: Key risk summary
Key risk summary These and other risks associated with the Australian Unity MCIs and Australian Unity are discussed in more detail in Section 4 of the Prospectus. All potential investors should review the risks outlined in the Prospectus and not rely on this presentation. Key risks associated with A
Slide 22: Key risk summary continued
Key risk summary continued These and other risks associated with the Australian Unity MCIs and Australian Unity are discussed in more detail in Section 4 of the Prospectus. All potential investors should review the risks outlined in the Prospectus and not rely on this presentation. Key risks associa
Slide 23: Key risk summary continued
Key risk summary continued These and other risks associated with the Australian Unity MCIs and Australian Unity are discussed in more detail in Section 4 of the Prospectus. All potential investors should review the risks outlined in the Prospectus and not rely on this presentation. Key risks associa
Slide 24: Key risk summary continued
Key risk summary continued These and other risks associated with the Australian Unity MCIs and Australian Unity are discussed in more detail in Section 4 of the Prospectus. All potential investors should review the risks outlined in the Prospectus and not rely on this presentation. General risks • A
Slide 25: 3. Overview of the Offer
3. Overview of the Offer AUL investor presentation – Offer of Australian Unity mutual capital instruments 23
Slide 26: Offer structure
Offer structure • Offer available to Eligible Members of Australian Unity Member Offer • Eligible Members are a financial member of Australian Unity within the meaning of the Constitution as at 23 September 2020, with a registered address in Australia • Offer available to Eligible Securityholders of
Slide 27: Indicative dates for the Offer
Indicative dates for the Offer Key dates for the Offer Record date for determining Eligible Members for the Member Offer 23 September 2020 Record date for determining Eligible Securityholders (7:00pm) for the Securityholder Offer 22 October 2020 Lodgement of Prospectus with ASIC 27 November 2020 Boo
Slide 28: Key contacts
Key contacts Name Title Phone Email Australian Unity Limited Group Executive, Finance & Strategy and Chief Darren Mann +61 3 8682 6039 dmann@australianunity.com.au Financial Officer Adam Vise Group Treasurer +61 404 873 894 avise@australianunity.com.au Tim Steer Deputy Treasurer +61 450 381 012 tist
Slide 29: 4. Appendix
4. Appendix AUL investor presentation – Offer of Australian Unity mutual capital instruments 27
Slide 30: Independent & Assisted Living (IAL)
Independent & Assisted Living (“IAL”) Seeks to deliver a continuum of care and services required by its customers 5,713 $496.4m employees1 revenue2 • IAL operates retirement communities and provides aged care, allied health and disability services. • Revenue is predominantly sourced from Government
Slide 31: Retail
Retail Provides packages and solutions that contribute to solving affordability challenges • Retail encompasses Australian Unity’s private health insurance and banking business. 325 $709.5m • Primary revenue sources of the Retail platform are monthly employees1 revenue2 health insurance premiums and
Slide 32: Wealth & Capital Markets (W&CM)
Wealth & Capital Markets (“W&CM”) Helping Australians secure their financial wellbeing 316 $170.5m employees1 revenue2 • W&CM comprises advice, investments, life & super, property (including social infrastructure) and trustee services. • Revenue is primarily sourced from funds and asset management f
Slide 33: Board of Directors and senior management
Board of Directors and senior management Board of Directors Peter Promnitz Rohan Mead Lisa Chung Melinda Cilento Paul Kirk Chair Group Managing Non-Executive Director Non-Executive Director Non-Executive Director BSc (Hons), AIAA, Director & CEO AM, LLB, FIML, FAICD BA, BEc (Hons), MEc, BEc, ACA, RI
Slide 34: Austiglian >]
Austiglian >] Real Wellbeing 180 YEARS
Australian Unity — Debt Investor Presentation (November 2020) on 6ix