Remgro Limited · JSE:REM

Remgro — 15 months to June 2011 Earnings Presentation

23 slides from Remgro's earnings presentation, 2011

  1. Slide 1: Final Results Presentation

    FINAL RESULTS PRESENTATION for the 15 months ended 30 June 2011

  2. Slide 2: Financial Highlights

    FINANCIAL HIGHLIGHTS • Ordinary dividend per share 50.2% • Headline earnings per share 56.8% • Intrinsic value per share 11.8% • The change in the reporting period resulted in headline earnings and HEPS for the current period not being comparable to the previous period 2

  3. Slide 3: Equity Accounting Periods for 15 Months to 30 June 2011

    EQUITY ACCOUNTING PERIODS FOR 15 MONTHS TO 30 JUNE 2011 Remgro Remgro Financial year end Company March interim June year end March / September • Dorbyl 12 Months to March 12 Months to March • Mediclinic • Air Products • CIV Group • Sabido June / December • Distell 12 Months to December 18 Months to

  4. Slide 4: Salient Features

    SALIENT FEATURES 15 months 12 months 12 months Jun 2011 Jun 2011 Mar 2010 Headline earnings (R’m) 5 555 4 049 3 355 Headline earnings per share (cents) 1 082.4 788.8 690.1 Earnings per share (cents) 2 112.4 Na 629.4 Total dividend per share (cents) 314.0 251.0 209.0 Na – Not available • Remgro chang

  5. Slide 5: Investment Activities: April to June 2011

    INVESTMENT ACTIVITIES: APRIL TO JUNE 2011 Lashou Group Inc. (Lashou) • During April 2011 Remgro invested US$18.0 million for a 1.6% interest on a fully diluted basis • Lashou is a Chinese company specialising in group buying and location-based marketing campaigns Fundamo • During June 2011 Remgro so

  6. Slide 6: Contribution to Headline Earnings

    CONTRIBUTION TO HEADLINE EARNINGS (EXCL OTHER, TREASURY AND CORPORATE COSTS) 12 months to 30 June 2011 2.7% 2.4% 0.8% 46.9% 47.2% Financial Industrial Media Mining Technology 6

  7. Slide 7: Summary of Headline Earnings

    SUMMARY OF HEADLINE EARNINGS 15 Months 12 Months 12 Months R’million Jun 2011 Jun 2011 Mar 2010 Financial services 2 845 1 915 1 355 Industrial interests 2 512 1 930 1 982 Media interests 20 31 17 Mining interests 112 112 96 Technology interests 111 97 13 Other investments 28 25 (64) Central treasur

  8. Slide 8: Financial Services

    FINANCIAL SERVICES Headline earnings Intrinsic value 15 Months 12 Months 12 Months As at As at R’million Jun 2011 Jun 2011 Mar 2010 30 Jun 2011 31 Mar 2010 RMBH 1 489 1 014 720 11 846 9 785 RMI Holdings 183 183 - 6 404 - FirstRand 1 173 718 635 4 363 9 719 Total 2 845 1 915 1 355 22 613 19 504 • The

  9. Slide 9: Industrial Interests – Listed Investments

    INDUSTRIAL INTERESTS – LISTED INVESTMENTS Headline earnings Intrinsic value 15 Months 12 Months 12 Months As at As at R’million Jun 2011 Jun 2011 Mar 2010 30 Jun 2011 31 Mar 2010 Mediclinic 474 474 460 8 776 6 948 Distell 433 328 281 4 725 4 430 Rainbow Chicken 285 220 259 3 455 3 412 Nampak 33 33 7

  10. Slide 10: Industrial Interests – Unlisted Investments

    INDUSTRIAL INTERESTS – UNLISTED INVESTMENTS Headline earnings Intrinsic value 15 Months 12 Months 12 Months As at As at R’million Jun 2011 Jun 2011 Mar 2010 30 Jun 2011 31 Mar 2010 Balance B/F 1 211 1 042 1 045 17 413 16 539 Unilever SA 374 312 279 5 313 4 346 Tsb Sugar 187 134 227 2 804 2 506 Air P

  11. Slide 11: Media Interests

    MEDIA INTERESTS Headline earnings Intrinsic value 15 Months 12 Months 12 Months As at As at R’million Jun 2011 Jun 2011 Mar 2010 30 Jun 2011 31 Mar 2010 Sabido 116 116 11 1 405 1 215 MARC (14) (17) 5 168 211 Other interests (82) (68) 1 16 71 Total 20 31 17 1 589 1 497 • Sabido was only equity accoun

  12. Slide 12: Mining Interests

    MINING INTERESTS Headline earnings Intrinsic value 15 Months 12 Months 12 Months As at As at R’million Jun 2011 Jun 2011 Mar 2010 30 Jun 2011 31 Mar 2010 Implats 112 112 85 4 862 5 711 Trans Hex - - 11 - 106 Total 112 112 96 4 862 5 817 12

  13. Slide 13: Technology Interests

    TECHNOLOGY INTERESTS Headline earnings Intrinsic value 15 Months 12 Months 12 Months As at As at R’million Jun 2011 Jun 2011 Mar 2010 30 Jun 2011 31 Mar 2010 CIV group 91 89 7 1 236 539 Tracker 57 23 - 1 196 911 SEACOM (51) (30) - 1 057 1 120 Other 14 15 6 278 479 Total 111 97 13 3 767 3 049 • The C

  14. Slide 14: Other Investments, Treasury and Corporate Costs

    OTHER INVESTMENTS, TREASURY AND CORPORATE COSTS Headline earnings / (loss) Intrinsic value 15 Months 12 Months 12 Months As at As at R’million Jun 2011 Jun 2011 Mar 2010 30 Jun 2011 31 Mar 2010 Other investments 28 25 (64) 634 399 Central treasury 89 76 57 5 852 4 662 Other net (162) (137) (101) 744

  15. Slide 15: Total Cash at the Centre

    TOTAL CASH AT THE CENTRE As at 30 Jun 2011 R’million Local Offshore Total Per Statement of financial position 2 050 2 265 4 315 Investment money market funds - 1 725 1 725 Cash of operating subsidiaries (152) (36) (188) Cash at the centre 1 898 3 954 5 852 Cash held in the following currencies % of

  16. Slide 16: Cash at the Centre Movement

    CASH AT THE CENTRE MOVEMENT 5,000 1,670 (1,766) 4,500 4,000 3,500 3,000 2,806 (1,160) 2,500 2,000 (161) 1,500 (146) (53) 1,190 1,000 500 - Dividends Investments Investments Dividends Forex Taxation paid Interest and Net cash received sold and made and paid movement other movement loans repaid loans

  17. Slide 17: Summary of Intrinsic Value

    SUMMARY OF INTRINSIC VALUE As at As at R’million 30 Jun 2011 31 Mar 2010 % Change % of Total RMBH and FirstRand 16 209 19 504 (16.9) 22.6 Mediclinic 8 776 6 948 26.3 12.2 RMI Holdings 6 404 - Nm 8.9 Unilever 5 313 4 346 22.3 7.4 Implats 4 862 5 711 (14.9) 6.8 Other investments 30 250 27 616 9.5 42.1

  18. Slide 18: Intrinsic Value

    INTRINSIC VALUE As at As at 30 Jun 2011 31 Mar 2010 % Change Discount to NAV 17.9% 19.4% - Intrinsic value – after CGT (Rand) 135.97 121.64 11.8 - Closing share price (Rand) 111.60 98.00 13.9 18

  19. Slide 19: Valuation of Unlisted Investments

    VALUATION OF UNLISTED INVESTMENTS Factors taken into consideration in determining the directors’ valuation: • Growth potential and risk; • Underlying NAV; • Profit history; and • Cash flow projections Unlisted investment Valuation method Discount Unilever SA Discounted cash flow Yes Total SA Forward

  20. Slide 20: Dividend Information

    DIVIDEND INFORMATION 350 314 300 63 250 209 190 200 Final Dividend 150 150 Interim Dividend 110 125 100 50 80 84 101 0 31 March 2009 31 March 2010 30 June 2011 • 314 cents equates to a dividend cover of 3.4 times, based on HEPS and a 50% period-on-period increase • The total dividend for the 15 mont

  21. Slide 21: Events After June 2011

    EVENTS AFTER 30 JUNE 2011 KTI and Tiso Group • KTI and Tiso Group merged effective on 1 July 2011 • Remgro’s effective interest in the new Kagiso Tiso Holdings (Pty) Ltd is 25.1% Tracker • Tracker was sold for a total consideration of approximately R1.2 billion • It is expected that the transaction

  22. Slide 22: Grindrod

    GRINDROD • Grindrod and Remgro have entered into a subscription agreement • Remgro will subscribe for 133, 333, 334 new ordinary Grindrod shares • Will result in Remgro acquiring an interest of 22.3% in Grindrod on a fully diluted basis • Subscription price of R15.00 per share, total consideration o

  23. Slide 23: For More Information Visit Our Website

    FOR MORE INFORMATION VISIT OUR WEBSITE WWW.REMGRO.COM

Remgro — 15 months to June 2011 Earnings Presentation on 6ix