Prime Financial Group Limited · ASX:PFG
Prime Financial — Shareholder Meeting (November 2021)
33 slides from Prime Financial's shareholder meeting presentation, Nov 26, 2021
Slide 1: ASX Announcement: 2021 Annual General Meeting
ASX Announcement Prime Financial Group Ltd (Prime – ASX: PFG) 26 November 2021 Prime Financial Group Ltd (Prime – ASX code PFG) 2021 Annual General Meeting In accordance with the requirements of the ASX Listing Rules, Prime Financial Group Ltd (ASX: PFG) is pleased to provide a copy of the presentat
Slide 2: Chairman's Address
ASX Announcement Prime Financial Group Ltd (Prime – ASX: PFG) 26 November 2021 2021 Annual General Meeting Chairman’s Address Good morning Ladies and Gentlemen. On behalf of my fellow Directors, Mr Matt Murphy and Mr Tim Bennett, it gives me great pleasure to welcome you to this virtual 2021 Annual
Slide 3: Overview
ASX Announcement Prime Financial Group Ltd (Prime – ASX: PFG) 26 November 2021 Our business is well positioned after three years of consecutive earnings (Underlying EBITDA for members/shareholders) growth which has seen 8%, 7% and 22% growth in each of FY19, FY20 and FY21 on a comparable basis. The
Slide 4: Community and client update
ASX Announcement Prime Financial Group Ltd (Prime – ASX: PFG) 26 November 2021 Promoter Score (NPS) survey with top quartile performance when measured against peers. We thank our clients for their ongoing support and appreciation. As part of our contribution to the broader community, Prime continued
Slide 5: AGM Presentation
Prime Financial Group Ltd (ASX: PFG) AGM Presentation 26 November 2021
Slide 6: Important Notice & Disclaimer
Important Notice & Disclaimer This investor presentation (Presentation) has been prepared by Prime Financial Group Limited Disclaimer (‘Prime’). No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and concl
Slide 7: Welcome
Welcome Directors Auditors EY Legal Advisors HFW Simon Madder Matt Murphy Tim Bennett Chairman, Chief Executive Officer & Managing Director Executive Director Executive Director Share Registry Computershare Investor Services 3
Slide 8: Agenda
Agenda 1. Chairman’s Address – Simon Madder 2. Managing Director / CEO’s Presentation – Simon Madder 3. Business of the Meeting 4
Slide 9: Online attendees voting process
Online attendees voting process Visit web.lumiagm.com/348379873 Enter Username (SRN or HIN) and Password (Postcode or Country Code). 5
Slide 10: Online attendees voting process
Online attendees voting process When the poll is open, the vote will be accessible by selecting the voting icon at the top of the screen To vote simply select the option you wish to send, the selected option will change colour. There is a message at the top of screen indicating the number of resolut
Slide 11: Proxies received for Resolution 1: Remuneration Report
Proxies received for Resolution 1: Remuneration Report In favour* Against Proxy’s Abstention discretion 56,924,631 3,812,287 9,246,866 125,000 (81.34%) (5.45%) (13.21%) * Includes open proxies directed to the Chairman. The Chairman intends to vote all available undirected proxies in favor of all the
Slide 12: Proxies received for Resolution 2: Re-election of Mr Tim Bennett
Proxies received for Resolution 2: Re-election of Mr Tim Bennett In favour* Against Proxy’s Abstention discretion 106,624,895 34,229 9,186,970 678,588 (92.04%) (0.03%) (7.93%) * Includes open proxies directed to the Chairman. The Chairman intends to vote all available undirected proxies in favor of
Slide 13: Proxies received for Resolution 3: Performance Rights to Mr Simon Madder
Proxies received for Resolution 3: Issue of Performance Rights to Mr Simon Madder In favour* Against Proxy’s Abstention discretion 56,822,196 4,014,618 9,186,970 46,500,898 (81.15%) (5.73%) (13.12%) * Includes open proxies directed to the Chairman. The Chairman intends to vote all available undirect
Slide 14: Proxies received for Resolution 4: Performance Rights to Mr Matt Murphy
Proxies received for Resolution 4: Issue of Performance Rights to Mr Matt Murphy In favour* Against Proxy’s Abstention discretion 56,798,827 4,037,987 9,186,970 46,500,898 (81.11%) (5.77%) (13.12%) * Includes open proxies directed to the Chairman. The Chairman intends to vote all available undirecte
Slide 15: Proxies received for Resolution 5: Performance Rights to Mr Tim Bennett
Proxies received for Resolution 5: Issue of Performance Rights to Mr Tim Bennett In favour* Against Proxy’s Abstention discretion 56,853,827 4,037,987 9,186,970 46,445,898 (81.13%) (5.76%) (13.11%) * Includes open proxies directed to the Chairman. The Chairman intends to vote all available undirecte
Slide 16: Managing Director/CEO's Presentation
Prime Financial Group Ltd (ASX: PFG) Managing Director/CEO’s Presentation
Slide 17: FY21 Key Financial Highlights
FY21 Key Financial Highlights Underlying EBITDA Margin Growth Increase in net operating Growth (members/ (members/ Final dividend up cashflow shareholders) shareholders) +22% +4% to 30% +48% +60% Revenue Growth Total expenses lower Reduction in Net Debt -27% to 1.0 times +4% -3% Underlying EBITDA (m
Slide 18: Capital Structure & Comparisons
Capital Structure & Comparisons Top 20 Shareholders Prime’s Capital Structure Shares on issue (includes treasury shares) at 30 June 2021 201m 68% Market Capitalisation at 17.5 cents at closing on 22 November 2021* $35m Net debt at 30 June 2021 $7.1m Investment Information (historic) Prime’s Comparab
Slide 19: Key Financial Information
Key Financial Information FY21 vs FY20 Prime – Prime’s key profitability measure is Prime – Group Members/Shareholders Underlying EBITDA for Financial Highlights* members/shareholders Chang FY21 FY20 Change FY21 FY20 e Underlying EBITDA for members/shareholders removes the Underlying impact of finan
Slide 20: Revenue
Revenue Analysis of Revenue – FY21 vs FY20 Revenue Revenue Growth FY21 FY20 FY21 vs FY20 • Focus on core services in growth $m $m (%) segments: Accounting, Business Advisory & Capital 13.2 12.0 10% • Business & Corporate Advisory Services Wealth Management & SMSF 9.1 9.5 (4%) • Wholesale & Family Of
Slide 21: Expenses & EBITDA
Expenses & EBITDA Total Expenses by Year Expense Reduction % FY19 19.3 Total Expenses • Strong cost controls change FY20 18.0 -6% $m • Centralised services structure Total FY21 17.5 -3% Expenses • Scaling back-office services overseas, and • Leverage from IT investment efficiencies and better Underl
Slide 22: Margin & Cashflow Improvement
Margin & Cashflow Improvement Analysis of Operating Margin by Year Key Takeaway % Operating Margin • Margins have been improving through the 30% ‘positive jaws’ of revenue 26% 19% increases and expense FY19* reduction FY20 FY21 Net Operating Cashflow by Year % Net FY19 +1.6 Operating Cashflow growth
Slide 23: Dividends
Dividends • Target dividend payout ratio of 40 – 60% of reported and maintainable earnings Key Takeaways • FY21 final dividend declared of 0.40 cents per share (‘cps’) (fully franked) vs final dividend of 0.25 cps in FY20 (+60%) • FY21 Final Dividend of 0.40cps • FY21 payout ratio of 41% of reported
Slide 24: Outlook for Members/Shareholders – FY22
Outlook for Members/Shareholders – FY22 ✓ Increased Earnings & Revenue Growth • Growth in Underlying EBITDA (members/shareholders) +5% to 10% • Accelerating Revenue Growth +8% to 12% (+12% Q1 FY22) ✓ More actively exploring Growth Opportunities • Organic and Inorganic initiatives (H2 FY22) ✓ Increas
Slide 25: Outlook for Members/Shareholders – FY22
Outlook for Members/Shareholders – FY22 ✓ Consideration of Capital Management initiatives • Buyback commenced on 1 October 2021 • Approx. $85k spent on the buyback since inception at an average price of 17 cents ✓ Other items • Melbourne office footprint reduced (December) accommodating a balanced o
Slide 26: Business Of The Meeting
Business Of The Meeting 1. Consideration of the Financial Statements Note: There is no requirement for the shareholders to approve these statements 2. Adoption of the Remuneration Report 3. Re-election of Director – Tim Bennett 4. Approval of issue of Performance Rights to Mr Simon Madder 5. Approva
Slide 27: Remuneration Report
Resolution 1 Remuneration Report • The second item on the agenda is the resolution concerning the Remuneration Report • Article 37.2 of the Company's Constitution states that a resolution put to the vote of a meeting is decided on a show of hands unless a poll is demanded. As Chairman I have elected
Slide 28: Re-election of Director (Mr Tim Bennett)
Resolution 2 Re-election of Director (Mr Tim Bennett) • The third item on the agenda is the resolution concerning the re-election of Mr Tim Bennett as a Director of the Company • Article 37.2 of the Company's Constitution states that a resolution put to the vote of a meeting is decided on a show of
Slide 29: Issue of Performance Rights to Mr Simon Madder
Resolution 3 Issue of Performance Rights to Mr Simon Madder • The fourth item on the agenda is the resolution concerning the approval to issue Performance Rights to Mr Simon Madder • Article 37.2 of the Company's Constitution states that a resolution put to the vote of a meeting is decided on a show
Slide 30: Issue of Performance Rights to Mr Matt Murphy
Resolution 4 Issue of Performance Rights to Mr Matt Murphy • The fifth item on the agenda is the resolution concerning the approval to issue Performance Rights to Mr Matt Murphy • Article 37.2 of the Company's Constitution states that a resolution put to the vote of a meeting is decided on a show of
Slide 31: Issue of Performance Rights to Mr Tim Bennett
Resolution 5 Issue of Performance Rights to Mr Tim Bennett • The sixth item on the agenda is the resolution concerning the approval to issue Performance Rights to Mr Tim Bennett • Article 37.2 of the Company's Constitution states that a resolution put to the vote of a meeting is decided on a show of
Slide 32: Thank You
Thank You
Slide 33: Contact
Contact Simon Madder Managing Director, CEO & Chairman Prime Financial Group Ltd T (03) 9827 6999 E simonm@primefinancial.com.au W www.primefinancial.com.au Rory McLaughlin Group Financial Controller Prime Financial Group Ltd T (03) 9827 6999 E rorym@primefinancial.com.au W www.primefinancial.com.au
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