AMCIL Limited · ASX:AMH
AMCIL — Shareholder Meeting (October 2022)
35 slides from AMCIL's shareholder meeting presentation, Oct 4, 2022
Slide 1: 2022 Annual General Meeting Presentation
4 October 2022 For personal use only The Manager ASX Market Announcements Australian Securities Exchange Exchange Centre Level 4 20 Bridge Street Sydney NSW 2000 Electronic Lodgement AMCIL Limited 2022 Annual General Meeting Presentation Dear Sir / Madam The following presentation will be delivered
Slide 2: Annual General Meeting October 2022
For personal use only Annual General Meeting October 2022
Slide 3: Board Members
Board Members For personal use only Rupert Myer AO Mark Freeman Jodie Auster Chairman and Independent Managing Director Independent Non-Executive Non-Executive Director Director Roger G Brow n Michael J Hirst Siobhan L McKenna Independent Non-Executive Independent Non-Executive Independent Non-Execu
Slide 4: How to ask a question
How to ask a question For personal use only • To ask a written question select the Q & A icon • Select the topic your question relates to from the drop-down list • Type your question in the text box and press the send button • To ask a verbal question follow the instructions below the broadcast wind
Slide 5: How to vote
How to vote For personal use only • When the poll is open, select the vote icon at the top of the screen • To vote, select either For, Against or Abstain • You will see a vote confirmation • To change or cancel your vote “click here to change your vote” at any time until the poll is closed Annual Ge
Slide 6: Presentation
For personal use only Annual General Meeting October 2022 Presentation
Slide 7: Disclaimer
Disclaimer For personal use only AMCIL Limited and Australian Investment Company Services Limited (AFSL: 303209) 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 (expre
Slide 8: Our Purpose and Approach
For personal use only Our Purpose and Approach Annual General Annual General Meeting Meeting 2019 2022
Slide 9: The Key Unique Benefits of an Investment in AMCIL
The Key Unique Benefits of an Investment in AMCIL For personal use only The key unique benefits of AMCIL are the combination of: Consistency of long term returns Alignment of interests ✓ Comparatively low management cost ✓ No performance fees Tax effectiveness from a low turnover, long term investme
Slide 10: AMCIL's Investment Approach
AMCIL’s Investment Approach For personal use only Attributes of a high-quality company Why this matters: that we seek: • Industry leadership position (or developing one) • The presence of these factors drives a • Unique assets that are hard to replicate competitive advantage • Conservative balance s
Slide 11: ESG components are integrated into our Investment Framework
ESG components are integrated into our Investment Framework For personal use only Approach to Environmental, Social and Engagement with Governance (ESG) factors companies • Assessment of ESG risk factors is an important Voting on resolutions is one of the key functions part of our investment process
Slide 12: Financial Year in Summary
For personal use only Financial Year in Summary Annual General Annual General Meeting Meeting 2019 2022
Slide 13: Financial Year in Summary
Financial Year in Summary For personal use only * Assumes an investor can take full advantage of the franking credits. Annual General Annual General Meeting Meeting 2019 2022 12
Slide 14: Share Price Premium/(Discount) to NTA
Share Price Premium/(Discount) to NTA For personal use only Annual General Annual General Meeting Meeting 2019 2022 13
Slide 15: Equity Market Conditions
For personal use only Equity Market Conditions Annual General Annual General Meeting Meeting 2019 2022
Slide 16: The Costs of Living are Surging
The Costs of Living are Surging Australia’s annual headline inflation rate jumped to 7% in July 2022, the highest level since mid-1990 and is For personal use only climbing at a faster pace than wages growth. In July 2022 it cost (on average): +29% more +18% more +15% more +12% higher to fuel a car
Slide 17: Global Conditions are Changing
Global Conditions are Changing For personal use only Source: Financial Times, February 2022 Source: The Wall Street Journal, June 2022 Source: Financial Times, August 2022 Source: AFR, July 2022 Annual General Annual General Meeting Meeting 2019 2022 Source: Reuters, June 2022 16
Slide 18: Equity Markets Have Overcome Bad News Before
Equity Markets Have Overcome Bad News Before ASX All Ordinaries – Price Chart For personal use only ASX All Ordinaries 9.1% Accumulation Index CAGR since 1992 (inception) Annual General Annual General Meeting Meeting 2019 2022 Source: Factset 17
Slide 19: Portfolio Performance and Activity
For personal use only Portfolio Performance and Activity Annual General Annual General Meeting Meeting 2019 2022
Slide 20: Portfolio Performance – Per Annum Returns to August 2022
Portfolio Performance – Per Annum Returns to 31 August 2022* For personal use only * Assumes an investor can take full advantage of the franking credits. AMCIL’s portfolio return is also calculated after management fees, income tax and capital gains tax on realised sales of investments. It should be
Slide 21: Our Recent Underperformance
Our Recent Underperformance AMCIL portfolio considerations: For personal use only • Strong prior performance of key holdings • Tax aware investment approach – largely maintained existing positions • Some selling, generally due to excessive valuation: – incurred $10m CGT in FY22 (generating franking
Slide 22: AMCIL Key Holdings – A Longer Term Context Against Recent Falls
AMCIL Key Holdings – A Longer Term Context Against Recent Falls +226% For personal use only +177% +109% +109% +96% +86% +48% 5-year performance ASX200 1-year performance -3% -25% -22% -22% -35% -30% -40% Annual General Annual General Meeting Meeting 2019 2022 21
Slide 23: Cyclical Sectors with Strong Recent Performance – A Longer Term Context
Cyclical Sectors with Strong Recent Performance – A Longer Term Context For personal use only UTILITIES ENERGY ASX 200 Index ASX 200 Index Annual General Annual General Meeting Meeting 2019 2022 22
Slide 24: How We Managed the Portfolio During Recent Market Volatility
How We Managed the Portfolio* During Recent Market Volatility For personal use only Exited Trimmed Added New Taken Over Raised additional cash in March 2022 for investment through SPP - $10 million Annual General Annual General Meeting Meeting 2019 2022 * 2022 Calendar Year. 23
Slide 25: Features of the AMCIL Portfolio
For personal use only Features of the AMCIL Portfolio Annual General Annual General Meeting Meeting 2019 2022
Slide 26: AMCIL's Portfolio Quality Markers
AMCIL’s Portfolio Quality Markers ‘Quality’ for AMCIL means seeking high returning businesses with attractive earnings growth potential, For personal use only aligned backable managers and Balance Sheet strength. Owner Drivers Earnings Growth 30% of AMCIL’s portfolio is 30% 78% 78% of AMCIL’s portfo
Slide 27: AMCIL's Portfolio Diversification
AMCIL’s Portfolio Diversification A spread of high quality of small and large businesses operating across different sectors and geographies For personal use only gives us long term confidence across a variety of possible equity market and economic conditions. Annual General Annual General Meeting Me
Slide 28: AMCIL Companies' Leadership Extends Around the World
AMCIL Companies’ Leadership Extends Around the World Our companies are For personal use only established leaders in 25+ COUNTRIES Annual General Annual General Meeting Meeting 2019 2022 27
Slide 29: AMCIL's Holdings – A Closer Look at Market Leadership
AMCIL’s Holdings – A Closer Look at Market Leadership For personal use only A global leader in the ownership, management and development of industrial property Prior experience of founder Greg Goodman in tough cycles leads to sector leading Balance Sheet strength Owner driver culture allows for heav
Slide 30: AMCIL's Holdings – A Closer Look at Market Leadership
AMCIL’s Holdings – A Closer Look at Market Leadership For personal use only A pioneer and leader in digital property settlements in Australia Established in 2010 – since facilitated four million property transactions valued at more than $600b Now handles more than 80% of property transfer transactio
Slide 31: AMCIL's Emerging Leaders
AMCIL’s Emerging Leaders For personal use only Europe The Americas Asia Australia Annual General Annual General Meeting Meeting 2019 2022 30
Slide 32: AMCIL's Holdings – A Closer Look at Market Leadership
AMCIL’s Holdings – A Closer Look at Market Leadership For personal use only High consumer recognition for quality, durable, aesthetically pleasing and easy to use kitchen appliance product development Entered the North American market in 2002, have organically grown sales to $600 million AUD since,
Slide 33: Outlook
For personal use only Outlook Annual General Annual General Meeting Meeting 2019 2022
Slide 34: Portfolio Outlook
Portfolio Outlook For personal use only Questions that we can’t answer: • At what level will interest rates peak? • Will central banks successfully avoid a recession? • When will the Russia and Ukraine war end? • Will there be further disruptive COVID strains? We choose to answer different questions
Slide 35: For personal use only
A/ACIL Ajuo asn peuosied 104