Washington H. Soul Pattinson And Company Limited · ASX:SOL
Washington H. Soul Pattinson And — Shareholder Meeting (December 2022)
18 slides from Washington H. Soul Pattinson And's shareholder meeting presentation, Dec 9, 2022
Slide 1: Welcome to the 120th Annual General Meeting
Welcome to the 120th Annual General Meeting Friday 9 December 2022
Slide 2: Board of Directors
Board of Directors Majority independent Board with deep investment expertise, diverse skills, and industry knowledge spanning: Robert Millner • Financial services Todd Barlow Tiffany Fuller Michael Hawker AM Chairman of the Board & CEO & Managing Director Non-Executive Director Non-Executive Directo
Slide 3: Agenda
Agenda • Chairman’s Address • CEO’s Address and Business Update • Formal Business • Q&A • Meeting Closes
Slide 4: FY22 financial results
FY22 financial results Key Performance Indicators Profit Results Net Asset Value (pre-tax) $9.96b Group Regular NPAT2 $834.6m ▲ 72% on FY21 ▲ 154% on FY21 Net Cash Flows From $347.9m Group Statutory NPAT3 ($12.9m) Investments1 ▲ 93% on FY21 ▼ 105% on FY21 On a per share basis, Net Asset Value (pre
Slide 5: Growing dividends
Growing dividends • Investing in high quality, cash-generating businesses to ensure consistency of dividends • FY22 ordinary dividends up 16.1% to 72 cents per share Plus special dividend of 15 cents per share, fully franked 72 60 62 56 58 52 54 48 50 44 46 40 32 34 28.5 30 25 27 20 17 2003 2004 200
Slide 6: Long-term outperformance
Long-term outperformance • Over 20 years the TSR has been 12.5% per annum which is 3.4% higher than the Index • Total return on an investment over 20 years has been 945%, more than double the Index +945% Cumulative performance to 30 November 2022 (Including reinvestment of dividends) WHSP +461% All
Slide 7: Board update
Board update Retirement: Election: Appointment: Warwick Negus Joe Pollard David Baxby retirement from Board NED appointment NED appointment effective 31 December 2022 effective 1 March 2022 effective 1 February 2023 • WHSP Board member since 2014 • WHSP Board member since March • Appointed to WHSP B
Slide 8: Agenda
Agenda • Chairman’s Address • CEO’s Address and Business Update • Formal Business • Q&A • Meeting Closes
Slide 9: A unique investment strategy in the Australian market
A unique investment strategy in the Australian market WHSP offers shareholders exposure to a range of investment strategies that perform throughout the cycle and have delivered above market returns for decades Long term, disciplined Track record of execution and Stable and growing investing active s
Slide 10: Our performance in FY22 and 1Q FY23
Our performance in FY22 and 1Q FY23 Net Cash Flow From Investments Successful integration of Milton • Net Asset Value per share rose per share increased 28% vs pcp 13.8% (pre-tax) vs pcp Increased diversification FY22 Total dividends of 72cps (up • WHSP outperformance vs Index: Reduced deb
Slide 11: Private Equity Portfolio
Private Equity Portfolio Expanding agricultural assets Investing in Australian engineering and manufacturing $73 million additional investment in 1Q23 capability to service the energy transition Mildura Citrus at Colignan, NSW. Investment in irrigation and crop protection systems DRIFTEX is the firs
Slide 12: Strategic Investment Portfolio
Strategic Investment Portfolio New Hope gains Acland approval Brickworks continues strong property growth • New Acland Stage 3 approvals granted, as workers commence • Substantial property division includes industrial and manufacturing preliminary earthworks of the mine site property trusts in a joi
Slide 13: Property Portfolio and Structured Yield Portfolio
Property Portfolio Structured Yield Portfolio Largely concentrated in Sydney, property investments $181m invested year-to-date are positioned towards infrastructure development across 4 new investments Portfolio Value $432m % of WHSP portfolio 4% Number of investments 14 Undrawn/Committed $178m Weig
Slide 14: 1Q FY23 update
1Q FY23 update Net Asset Value $10.05b (pre-tax) Continued deployment Net Asset Value per share $27.84 • Uncorrelated and defensive investments (pre-tax) • $181 million invested in Structured Yield Net Cash Flows From • $73 million additional invested in $87m agricultural investments Investments Net
Slide 15: FY22 ESG highlights
FY22 ESG highlights Environmental Social Governance Carbon neutral – Parent company Employee diversity Board diversity • Offset carbon footprint in direct • 47% female representation in total • 38% female representation on Board operations at head office vs 39% in FY21 vs 25% in FY21 Reduction in sc
Slide 16: Agenda
Agenda • Chairman’s Address • CEO’s Address and Business Update • Formal Business • Q&A • Meeting Closes
Slide 17: Thank you
Thank you
Slide 18: Disclaimer
Disclaimer Disclaimer This document has been prepared by Washington H. Soul Pattinson and Company Limited (‘WHSP’). All information contained in this document (including this notice) Any forward looking statements included in the Information This Information does not constitute an offer, invitation,
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