Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — H1 2012 Earnings Presentation
17 slides from Washington H. Soul Pattinson And's earnings presentation, Mar 22, 2012
Slide 1: Review of Operations: Group Performance
For personal use only Review of Operations Half Year Ended 31 January 2012 Group Performance Consolidated Results Half Year Ended 31 January 2012 • Regular Group profit* was $88.7m, up 1.8%. • Increased regular contributions by: • New Hope Corporation • TPG Telecom • Offset by results of: • Brickwor
Slide 2: Group Performance and WHSP Total Shareholder Return
Group Performance For personal use only Consolidated Results Half Year Ended 31 January 2012 • Total Group profit was $99.1m. • Reduction of $185.9m compared to 1st half 2011. • 2011 included $195.1m gain on the sale of Arrow Energy shares by New Hope. • Net profit on non-regular items for the half
Slide 3: Interim Dividend History; Listed Equity Investments
Interim Dividend History For personal use only Interim Dividend 17 cents per share, up 13.3% 5 WHSP (Parent Company) Listed Equity Investments (including controlled entities & associates) • Market value of the portfolio was $4.4bn, up 4.3% since 31 July 2011. (after adjusting for Souls Private Equit
Slide 4: WHSP Listed Equity Investments (excluding controlled entities)
WHSP (Parent Company) For personal use only Listed Equity Investments (excluding controlled entities & associates) • Market value of the portfolio was $425m, down 0.8% since 31 July 2011. • $42.9m was invested in the equity market, including: Exco Resources CMA Corporation Quickstep Holdings and SFG
Slide 5: New Hope Corporation Limited
Controlled Entities For personal use only New Hope Corporation Limited Half Year Ended 31 January 2012 59.7% held • Net profit after tax from operations was up 25% to $101.1m. • EPS before non recurring Items was 12.2 cents per share, up from 9.8 cents per share. • Interim dividend of 6 cents per sh
Slide 6: New Hope: Queensland Bulk Handling
Controlled Entities For personal use only New Hope Corporation Limited Queensland Bulk Handling • Throughput for half year was 4.27Mt, up 23% on last years record of 3.46Mt. • On track to deliver record annual coal throughput. • 4.27Mt for 1H2012 V’s 6.52Mt for FY2011. • System in-loading and out-lo
Slide 7: CopperChem Limited
Controlled Entities For personal use only CopperChem Limited 93.4% held Half Year Ended 31 January 2012 • CopperChem is a producer of copper sulphate and copper concentrate. • Operations based in Cloncurry in North West Queensland. • Copper sulphate plant has an annual production capacity of 8,500 m
Slide 8: CopperChem Limited: Exploration and Shareholding
Controlled Entities For personal use only CopperChem Limited • Exploration drilling is continuing on mining leases and exploration permits owned by CopperChem. • Several other key exploration permits are under due diligence. • Through an alliance agreement, CopperChem has access to oxide ores locate
Slide 9: CopperChem Limited
CopperChem Limited For personal use only 17 CopperChem Limited 18 9
Slide 10: Souls Private Equity Limited
Controlled Entities For personal use only Souls Private Equity Limited 100% held Half Year Ended 31 January 2012 • WHSP takeover of SPEL completed 4 January 2012. (now 100% owned) • Consideration under the scheme was $84.5m ($74.1m cash, remainder in WHSP shares). • SPEL was delisted on 9 January 20
Slide 11: Souls Private Equity: Ampcontrol
Controlled Entities For personal use only Souls Private Equity Limited Ampcontrol Half Year ended 31 December 2011 • Revenue of $128.5m. • EBITDA of $19.7m. • contributed a net profit of $3.9 million to SPEL. • Continued investment and growth expected in second half. 21 Controlled Entities Souls Pri
Slide 12: Ampcontrol Future Direction; Pitt Capital Partners
Controlled Entities For personal use only Souls Private Equity Limited Ampcontrol Future Direction – Four Pillars • Continue to build on the strength of the Coal Industry, both within Australia and overseas • Continue to diversify and leverage technology into the Utilities & Energy and Tunnelling &
Slide 13: Associated Entities: API and Brickworks
Associated Entities For personal use only Australian Pharmaceutical Industries Year Ended 31 August 2011 24.6% held • Net Loss for the year was $23.3m, due to: • $50m impairment - Financial Guarantee Program • Closure of Brisbane Distribution Centre – Qld floods • Underlying Net Profit was $20.8m co
Slide 14: Associated Entities: TPG Telecom
Associated Entities For personal use only TPG Telecom Limited 26.9% held Half Year Ended 31 January 2012 • Profit After Tax of $55.7m, up 64.5%. • EBITDA of $131.9m, up 16.7%. (well positioned to achieve full year guidance of $250m to $260m). • Earnings per share of 7.1 cents, up 61.4%. (8.7 cents p
Slide 15: TPG Telecom: Subscribers and Cash Flow
Associated Entities For personal use only TPG Telecom Limited Half Year Ended 31 January 2012 • Consumer broadband business added 19,000 subscribers (driven by broadband/home phone bundle plans). • Mobile subscribers up by 21,000 to 222,000 (driven by Super Value Mobile Plans). • New corporate divis
Slide 16: Associated Entities: Ruralco and BKI
Associated Entities For personal use only Ruralco Holdings Limited 23.5% held Year Ended 30 September 2011 • Revenue for the year was $1.0bln, up 11.1%. • Profit After Tax $15.0m, up 24.3%. • Net debt reduced from $41.3m to $15.7m. • Final Dividend 9 cents fully franked, Total for the year 18 cents
Slide 17: Associated Entities: Clover Corporation
Associated Entities For personal use only Clover Corporation Limited Half Year Ended 31 January 2012 28.6% held • Sales were $17.9m up 27.8% on the 1st half last year. • Net Profit After Tax was $1.7m, compared to $2.0m for the 1st half last year. • Result includes a loss of $0.97m in respect of FFI
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