Steadfast Group Limited · ASX:SDF
Steadfast — H1 2019 Earnings Presentation
15 slides from Steadfast's earnings presentation, Feb 20, 2019
Slide 1: Steadfast Group 1H19 results Investor presentation
20 February 2019 Steadfast Group 1H19 results Investor presentation Presenters: Robert Kelly - Managing Director & CEO Stephen Humphrys - Chief Financial Officer
Slide 2: Contents
1H19 results - investor presentation Contents ▪ 1H19 highlights 3 ▪ 1H19 financial summary 7 ▪ FY19 guidance 12 © 2019 Steadfast Group Limited │2
Slide 3: Underlying earnings driven by organic and acquisition growth
Steadfast Group Underlying earnings driven by organic and acquisition growth 2 1H19 underlying earnings1 Underlying EBITA ($m) 180 ▪ EBITA2 +21.3% to $86.5 million $164.1m 160 ▪ NPAT +17.6% to $38.2 million $143.3m 140 $129.6m ▪ NPATA3 +16.9% to $50.3 million 120 $92.8m ▪ EPS (NPAT) +12.0% to 4.83 c
Slide 4: Steadfast Network and equity brokers
Steadfast Network and equity brokers GWP and underlying EBITA growth driven by price and volume Steadfast Network highlights Steadfast Network GWP ($bn) 6 ▪ $2.9 billion GWP, +12% ▪ Driven by price and volume increases and $5.0bn $5.3bn 5 new brokers joining the Network $4.4bn $4.5bn ▪ 388 brokers i
Slide 5: Steadfast Underwriting Agencies GWP and underlying EBITA growth
Steadfast Underwriting Agencies GWP and underlying EBITA growth Steadfast Underwriting Agencies highlights Steadfast Underwriting Agencies GWP ($m) 1,000 ▪ $558 million GWP, +24% $914m ▪ Primarily driven by price and volume increases with some acquisition growth 800 $745m $777m ▪ Price rises creatin
Slide 6: Our insurTech: Steadfast Client Trading Platform and INSIGHT
Our insurTech Steadfast Client Trading Platform and INSIGHT Steadfast Client Trading Platform (SCTP) GWP transacted through SCTP ($bn) ▪ 6 business lines and 13 insurer and underwriting agency partners live on SCTP 3 ▪ SCTP delivers strong client outcomes, addressing several issues raised by the 2 R
Slide 7: 1H19 financial summary
1H19 financial summary © 2019 Steadfast Group Limited │7
Slide 8: Group financial performance
Group financial performance Strong underlying earnings growth Six months to 31 December Underlying Underlying Year-on-year $ million 1H19 1H18 growth % Revenue1 ($m) 320.9 261.8 22.6% EBITA1 ($m) 86.5 71.3 21.3% NPAT ($m) 38.2 32.5 17.6% EPS (NPAT) (cents) 4.83 4.31 12.0% NPATA2 ($m) 50.3 43.0 16.9%
Slide 9: Equity brokers financial performance
7 % 48% Equity brokers financial performance 45 % Organic and acquisition growth Share of 1H19 underlying EBITA Equity brokers – consolidated & equity accounted (assuming 100% ownership) Six months to 31 December Underlying Underlying Year-on-year Organic Growth from acquisitions $ million 1H19 1H18
Slide 10: Steadfast Underwriting Agencies financial performance
Steadfast Underwriting Agencies financial performance 45% 48% Strong organic growth driven by price and volume Share of 1H19 underlying EBITA Steadfast Underwriting Agencies – consolidated & equity accounted (assuming 100% ownership) Six months to 31 December Underlying Underlying Year-on-year Organ
Slide 11: Interim FY19 dividend
Interim FY19 dividend Interim dividend up 14% ▪ Interim FY19 dividend of 3.2 cps (fully franked), up from 10.0 2.8 cps in 1H18 (+14.3%) 9.0 ▪ FY19 target dividend payout ratio of 65% to 85% of underlying NPAT 8.0 ▪ Dividend Reinvestment Plan (DRP) to apply to interim 7.0 FY19 dividend; no discount ▪
Slide 12: FY19 guidance
FY19 guidance © 2019 Steadfast Group Limited │ 12
Slide 13: FY19 guidance confirmed
FY19 guidance FY19 guidance confirmed 2 ▪ FY19 guidance range1: Underlying EBITA ($m) ▪ Underlying EBITA of $190 million - $200 million 200 $190m-$200m 180 ▪ Underlying NPAT of $85 million - $90 million 160 140 ▪ Strong 1H19 earnings support our FY19 guidance 120 (as upgraded in October 2018) 100 80
Slide 14: Questions
Questions © 2019 Steadfast Group Limited │ 14
Slide 15: Important notice
Important notice This presentation has been prepared by Steadfast Group Limited (“Steadfast”). This presentation contains information in summary form which is current as at 20 February 2019. This presentation is not a recommendation or advice in relation to Steadfast or any product or service offere