AMCIL Limited · ASX:AMH
AMCIL — Shareholder Meeting (September 2010)
19 slides from AMCIL's shareholder meeting presentation, Sep 27, 2010
Slide 1: AMCIL Limited 2010 Annual General Meeting Chairman's Presentation
For personal use only 27 September 2010 The Manager Company Announcements Office Australian Securities Exchange Exchange Centre Level 4 20 Bridge Street Sydney NSW 2000 Electronic Lodgement AMCIL Limited 2010 Annual General Meeting Chairman’s Presentation Dear Sir or Madam The Chairman of AMCIL Limi
Slide 2: AMCIL Annual General Meeting Presentation
For personal use only AMCIL Annual General Meeting 27 September 2010 Presentation
Slide 3: Disclaimer
Disclaimer For personal use only AMCIL Limited, their related entities and each of their respective directors, officers and agents (together the Disclosers) have prepared the information contained in these materials in good faith. However, no warranty (express or implied) is made as to the accuracy,
Slide 4: All Ordinaries Price Index – A Long Term View
All Ordinaries Price Index – A Long Term View For personal use only
Slide 5: Summary of Results
Summary of Results For personal use only FY10 FY09 Key factors: $m $m • Increased dividends and Income 6.3 5.4 distributions Operating Expenses (1.2) (1.2) • Revenue from deposits down Income Tax (0.2) (0.4) as funds invested Net Operating Profit 4.9 3.8 • Improved performance of Trading Portfolio N
Slide 6: Dividend Policy
Dividend Policy For personal use only FY10 FY09 cents cents Earning Per Share* 2.6 2.2 Dividends Per Share 2.0 2.0 Maximise the distribution of the franking account balance subject to the level of profit for the year It is not be normal practice to distribute realised capital gains unless franki
Slide 7: Portfolio at June
Portfolio at 30 June For personal use only $Million 160 140 5.0 16.6 120 18.0 100 22.0 0.0 80 60 124.6 131.5 8.5 103.3 40 84.4 71.5 20 43.8 0 2005 2006 2007 2008 2009 2010 Portfolio Value Cash New Capital of $39.1 million raised in 2007 as a result of the exercise of outstanding options
Slide 8: The Market Over the Year – All Ordinaries
For personal use only Value Ju l -0 3600 3800 4000 4200 4400 4600 4800 5000 9 5200 A ug -0 9 Se p- 09 O ct -0 Price Index 9 N ov -0 9 D ec -0 9 Ja n- 10 Fe b- 10 M ar -1 0 A pr -1 2009/10 financial year 0 M ay -1 0 Ju n- 10 Ju l -1 0 A ug -1 0 Se p- 10 The Market Over the Year – All Ordinaries
Slide 9: Investment Themes for the Year
Investment Themes for the Year For personal use only Participated in selected capital raisings which restored balance sheet strength Invested in companies with sound business models and strong annuity income yields Restarted use of the Trading Portfolio albeit still at relatively small levels
Slide 10: Largest Acquisitions - (Last Financial Year)
Largest 5 Acquisitions - (Last Financial Year) For personal use only $m Hastings Diversified Utilities Fund* 5.4 Transurban* 5.3 Australian Infrastructure Fund* 3.3 Perpetual* 2.2 Trust Company* 1.6 * New stocks to the investment portfolio
Slide 11: Largest Disposals - (Last Financial Year)
Largest 5 Disposals - (Last Financial Year) For personal use only $m Oakton 2.0 Diversified United Investment (DUI) 1.5
Slide 12: AMCIL's Investment Structure – August 2010
AMCIL’s Investment Structure – 31 August 2010 For personal use only Investment portfolio: ¾ A$133.3 million ¾ 42 companies Trading portfolio of $4.9 million Cash of $1.8 million (SPP raised $9.9 million in December 2009)
Slide 13: Major Purchases Since July 2010
Major Purchases Since 1 July 2010 For personal use only ANZ Bank Eastern Star Gas (placement)
Slide 14: AMCIL Top Holdings – August 2010
AMCIL Top 20 Holdings – 31 August 2010 For personal use only $ ’000 * 1 Commonwealth Bank of Australia 8,853 2 Westpac Banking Corporation 7,965 3 Hastings Diversified Utilities Fund 7,941 4 BHP Billiton 7,410 * 5 Transurban Group 6,229 6 National Australia Bank 5,999 7 Bradken 5,672 * 8 Australia a
Slide 15: AMCIL Top Holdings – August 2010 con't.
AMCIL Top 20 Holdings – 31 August 2010 con’t. $ ’000 For personal use only 11 Telstra Corporation 4,681 12 ASG Group 4,583 13 Mitchell Communication Group 4,455 14 Coca-Cola Amatil 4,176 15 Peet 3,999 16 Amcor 3,817 17 Australian Infrastructure Fund 3,640 18 Oil Search 3,593 19 REA Group 3,544 20 AM
Slide 16: Total Portfolio Return – % Per Year to August 2010
Total Portfolio Return* – % Per Year to 31 August 2010 For personal use only 14% 12.3% 13.1% 12% 10% 9.2% 8% 5.8% 6% 4.2% 4% 2.2% 2% 0% 1 year return 5 year return return since recapitalisation in January 2004 AMCIL return on capital* S&P/ASX 200 Accumulation Index *measured by return on capital as
Slide 17: Share Price Relative to Net Asset Backing
0 -1 ug A Share Price Relative to Net Asset Backing 0 -1 pr A 9 Premium Discount -0 ec D 9 -0 ug A 9 -0 pr A 8 -0 ec D 8 -0 ug A 8 -0 pr A 7 -0 ec D 7 -0 ug A 7 -0 pr A 6 -0 ec D 6 -0 ug A 6 -0 pr A 15% 10% 5% 0% -5% -10% -15% For personal use only
Slide 18: Outlook
Outlook For personal use only AMCIL is close to fully invested following share purchase plan in December High government debt levels globally and the impact of required adjustments are likely to create ongoing uncertainty in markets Emerging economies including China remain central to global g
Slide 19: AMCIL Annual General Meeting September 2010
For personal use only AMCIL Annual General Meeting 27 September 2010