Centuria Capital Group · ASX:CNI
Centuria Capital — H1 FY2013 Earnings Presentation
16 slides from Centuria Capital's earnings presentation, Feb 22, 2013
Slide 1: Results Announcement for the half year ending 31 December 2012
For personal use only Results Announcement for the half year ending 31 December 2012 Centuria Capital Limited Presentation to Investors and Analysts
Slide 2: 31 December 2012 - Financial Performance
31 December 2012 - Financial Performance • 1H13 underlying earnings well above 1H11 For personal use only Underlying Net Profit After Tax (NPAT) ($m) & 1H12 7 6 • 2H13 expected to settle acquisition of 5 175 Castlereagh Street, Sydney 4.179 2nd Half Result 4 1st Half Result 3 3.579 • Further large Sy
Slide 3: Underlying Results (excl. Benefit Funds)
Underlying Results (excl. Benefit Funds) For personal use only Half Year Ended 31 December 2012 2011 Commentary for major movements Underlying EBIT by major division $’000 $’000 - Centuria Property Funds 2,050 741 Turnaround in property as predicted in our market updates - Centuria Life 3,804 3,842
Slide 4: Gearing and Expense Management
31 December 2012 - Corporate Update Gearing For personal use only Corporate Debt / Equity Ratio • Corporate debt to equity remains low 35% • No expectation that debt levels will 33% 30% increase in the near-term 25% 26% 20% 15% 15% 14% 13% 10% 10% 5% 0% 2008 2009 2010 2011 2012 1H13 Corporate debt e
Slide 5: Unmarketable Parcel Share Buy-back, Dividend and NLT Assets Sale
31 December 2012 - Corporate Update (continued) For personal use only Unmarketable Parcel Share Buy-back • 4.2 million shares bought back and cancelled Number of Shares on Issue ($m) at $0.4775 per share (December 2012) 82 81 81.8 • Total number of shareholders reduced by 81.2 45% from 15,094 to 8,3
Slide 6: Property Division Revenue Sources
31 December 2012 - Property Division Revenue Sources For personal use only Property Division Revenue Sources (by half-year period) ($m) 7 Acquisition fees 6 Leasing fees 5 Property Mgt & Caretaking fees 4 Management fees 3 Development fees 2 Sales fees 1 Other - 1HY2011 2HY2011 1HY2012 2HY2012 1HY20
Slide 7: Property Division: Funds Under Management
31 December 2012 - Property Division (continued) Funds Under Management For personal use only Property Funds Under Management ($bn) • Corporate Drive ($23.3m) (Dec 12), and 1.20 Castlereagh Street ($56.0m) (forecast - Mar 13) 1.00 1.03 1.06 1.00 0.80 • New trust forecast in 2H13, asset of ~$90m 0.71
Slide 8: Financial Services: Centuria Life (including Guardian)
31 December 2012 - Financial Services For personal use only Centuria Life (including Guardian) • 88,653 number of policies at 31 December 2012 (30 June 2012: 80,312) • Performance of all unit-linked bonds exceeds prior half-year • Reduction in net funds outflows • Final stages of new investment prod
Slide 9: Financial Services: Residential Mortgages
31 December 2012 - Financial Services (continued) For personal use only Residential Mortgages • Value of book at 31 December 12 - $180m (30 June 12: $182m) secured by $768m of property (average LVR:19%) • Non-recourse loan at 31 December 12 - $145.5 m (30 June 12: $152m) • Warehouse loan facility ma
Slide 10: Appendices: Statutory Account Reconciliations
Appendices Statutory Account Reconciliations For personal use only General comment on statutory accounts reconciliation The “Statutory Accounts” show the consolidated corporate entities including the Benefit Funds which Centuria is required to consolidate under AIFRS. The “Benefit Funds” reflect the
Slide 11: Appendix 1: Income Statement for half year ended December 2012
Appendix 1: Income Statement for half year ended 31 December 2012 For personal use only Statutory Accounts Benefit Funds Statutory Accounts excluding Benefit Funds $’000 $’000 $’000 Revenue (Note 1) 7,133 - 7,133 Residential Mortgages interest income 7,571 - 7,571 Centuria Life revenue 6,018 - 6,018
Slide 12: Appendix 2: Balance Sheet as at December 2012
Appendix 2: Balance Sheet as at 31 December 2012 For personal use only Statutory Accounts Statutory Accounts Benefit Funds excluding Benefit Funds $’000 $’000 $’000 Assets Cash and cash equivalents (Note 1) 9,557 - 9,557 Trade and other receivables (Note 2) 13,663 - 13,663 Financial Assets at fair v
Slide 13: Appendix 2: Balance Sheet (continued)
Appendix 2: Balance Sheet as at 31 December 2012 (continued) For personal use only Statutory Accounts Benefit Funds Statutory Accounts excluding Benefit Funds $’000 $’000 $’000 Liabilities Trade and other payables 4,804 - 4,804 Corporate debt 12,300 - 12,300 Borrowings - Residential Mortgages 145,54
Slide 14: Appendix 3: Cash Flow Statement for half year ended December 2012
Appendix 3: Cash Flow Statement for half year ended 31 December 2012 For personal use only Statutory Accounts Benefit Funds Statutory Accounts excluding Benefit Funds $’000 $’000 $’000 Cash flows from operating activities Interest received 523 - 523 Management fees received (Note 1) 10,040 - 10,040
Slide 15: Appendix 3: Cash Flow Statement (continued)
Appendix 3: Cash Flow Statement for half year ended 31 December 2012 (continued) For personal use only Statutory Benefit Statutory Accounts Accounts Funds excluding Benefit Funds $’000 $’000 $’000 Cash flows from financing activities Loans to related entities ((((92) - ((((92) Repayment of borrowing
Slide 16: Disclaimer
Disclaimer For personal use only This document has been issued by Centuria Capital Limited ABN This document is not a recommendation or personal advice in 22 095 454 336 and contains general information about Centuria relation to Centuria or any product or service offered by Centuria Capital Limited