Bravura Solutions Limited · ASX:BVS

Bravura Solutions — FY2011 Earnings Presentation

24 slides from Bravura Solutions's earnings presentation, August 2011

  1. Slide 1: Investor Presentation – 2011 Financial Results

    Investor Presentation – 2011 Financial Results Full Year ended 30 June Tony Klim, Chief Executive Officer Rebecca Norton, Chief Financial Officer August 2011

  2. Slide 2: Agenda

    AGENDA Group highlights FY2011 financial results Group strategy and core business Transfer Agency Wealth Management Summary Questions & Answers 2 2 Investor Presentation

  3. Slide 3: Group highlights

    Group highlights

  4. Slide 4: Highlights

    Highlights  Strong financial position for long-term future growth  Strong EBITDA growth from $10m in FY2010 to $19m in FY2011  Operating cash flow of $16m represents growth of 13% on prior year  Strong client sales and retention (despite weak financial markets)  Two new Sonata sales in Australi

  5. Slide 5: FY2011 financial results

    FY2011 financial results

  6. Slide 6: FY2011 financial performance

    FY2011 financial performance Constant Constant Actual Actual Currency1 Currency (A$m) FY10 FY11 FY11 Chg. (%) Chg. (%) Revenue 2 101.4 120.7 130.5 28.7 19.0 Revenue excluding licence fees 94.4 117.4 127.0 34.6 24.4 Expenses 91.4 101.6 108.4 18.7 11.3 EBITDA 10.0 19.0 22.0 120.0 90.3 EBITDA excluding

  7. Slide 7: Revenue growth

    Revenue growth Revenues (A$m) 130.5 120.7 101.4  EBITDA grew by 90% due to continued strength in underlying business and addition of MFT revenue  Two new sales of Sonata FY10 FY11 FY11 Constant Currency contributed licence and related EBITDA services revenue (A$m) 22.0 19.0  Predictability of rev

  8. Slide 8: Revenue summary

    Revenue summary Geography Industry/product line Lines of business (A$m) (A$m) (A$m) Licence & 3.5 New Zealand 6.0 Other 3.9 Asia Transfer Agency 26.5 52.0 Australia Professional Services 76.9 EMEA/UK Maintenance 84.3 /Managed Wealth Services Management 65.2 43.8 FY11 FY11 FY11 8 Investor Presentatio

  9. Slide 9: Operating cost management

    Operating cost management FTE, revenues and labour related costs $A000s 650 300.0 600 250.0  Labour related costs per FTE 241 206 550 185 206 200.0 continued to reduce 500 150.0 155.0 450 117.9 400 114.5 112.9 100.0  Continued focus on discretionary 350 555 548 586 586 50.0 cost management 300 - F

  10. Slide 10: Balance sheet

    Balance sheet A$m Jun-10 Jun-11 Assets Cash 6.5 3.7  Borrowings & deferred Other current assets 28.5 31.7 consideration reduced by 40% Intangible assets 154.6 121.0 Other non-current assets 26.3 17.4  Impairment charge of $20.9m Total assets 216.0 173.8 taken after review of intangibles - Liabilit

  11. Slide 11: Funding profile

    Funding profile Drawn Facility limit down value Due Date (m) (m) Working capital facility AUD revolving tranche facility $ 8.3 $ 1.2 Dec 2012 GBP revolving tranche facility £ 3.5 £ - Dec 2012 Amortising term facility AUD term tranche facility $ 4.4 $ 4.4 Dec 2012 GBP term tranche facility £ 13.1 £ 1

  12. Slide 12: Group strategy and core business

    Group strategy and core business

  13. Slide 13: Group strategy

    Group strategy  Continue successful roll out of Sonata in wealth management and life insurance markets  Build on strategic relationships with global securities services clients by adding further products and services to their administration model  Enhance their customer proposition and provide Br

  14. Slide 14: Core business

    Core business  Implement, support and maintain back office data record keeping software and managed services across Transfer Agency and Wealth Management divisions  Transfer Agency  Management of all aspects of investor record keeping in relation to investors purchasing, redeeming and account bal

  15. Slide 15: Transfer Agency

    Transfer Agency

  16. Slide 16: Transfer Agency

    Transfer Agency  Market share increasing with over 80% of budgeted revenue contracted  Continue to drive international opportunities and support major Transfer Agency clients in their global expansion  Support further platform consolidation within existing client base  Penetrate less mature mark

  17. Slide 17: Global clients and new markets

    Global clients and new markets  Current client base will assist in enabling entry into new and emerging markets  Further develop managed services model with global clients by extending Bravura’s footprint of products and services into their existing platforms  Drive further revenue generation ari

  18. Slide 18: Wealth Management

    Wealth Management

  19. Slide 19: Wealth Management

    Wealth Management  Sonata, our new technology platform based on Service Oriented Architecture (SOA), is now successfully rolled out and will underpin the Wealth Management division growth  Well positioned to capitalise on industry trends and regulatory changes in Australia, UK and Asia  Particula

  20. Slide 20: UK growth opportunities

    UK growth opportunities  Third Party Administrators (TPA)  Regulatory changes and the need to rapidly enter the market without large system build and costs will force more platform providers towards TPA’s  Build on relationships with existing TPA provider, Scottish Friendly  Well positioned to e

  21. Slide 21: Emerging markets

    Emerging markets  Celent research predicts that insurance companies will move away from agency based distribution towards a more diverse ‘multi-channel’ distribution model, i.e. banks, direct sales, financial advisors  Bravura is well positioned to provide technology solutions to align with these

  22. Slide 22: Summary

    Summary

  23. Slide 23: Key summary points

    Key summary points  Strong financial and cash position for growth  EBITDA profitable without licence sales  Improved quality of earnings and level of contracted revenues  Strong long-term relationships with blue chip clients  Successful roll out of wealth management platform, Sonata  Driving n

  24. Slide 24: Q&A

    Q&A

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