Washington H. Soul Pattinson And Company Limited · ASX:SOL

Washington H. Soul Pattinson And — FY2009 Earnings Presentation

20 slides from Washington H. Soul Pattinson And's earnings presentation, Sep 24, 2009

  1. Slide 1: Review of Operations Year Ended 31 July 2009

    For personal use only Review of Operations Year Ended 31 July 2009

  2. Slide 2: Group Performance

    Group Performance For personal use only Consolidated Results Year Ended 31 July 2009 ƒ Group profit after tax and before non-regular items increased 99% to $225 million ƒ Group profit after tax and non-regular items was $1.1 billion > 12 times last year’s result ƒ Profit from non-regular items was $

  3. Slide 3: Group Performance: Profit After Tax and Outside Equity

    Group Performance Profit After Tax and Outside Equity ($M) For personal use only 1,112.7 AGAAP AIFRS 405.7 224.7 155.9 130.2 106.0 96.1 99.2 113.1 93.9 90.8 66.0 72.7 78.7 88.3 81.5 86.4 49.7 56.8 45.8 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Before non-regular items After non-regular items

  4. Slide 4: Dividend Performance (Cents per Share)

    Dividend Performance (Cents per Share) For personal use only 32.0 30.0 28.5 27.0 25.0 25.0 20.0 17.0 15.0 15.0 14.0 11.5 10.5 5.0 5.0 5.0 3.5 4.0 0.0 0.0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Ordinary Dividends Special Dividends Final Dividend 19 cents up 5.6% Special Dividend 25 cents T

  5. Slide 5: WHSP Listed Investment Portfolio (including subsidiaries & associates)

    WHSP (Holding Company) For personal use only Listed Investment Portfolio (including subsidiaries & associates) ƒ Market value of portfolio $4.0 billion ƒ 12 month portfolio return of 14% against the S&P/ASX 300 return of negative -10% (an outperformance of 24%) ƒ $19m was invested in subsidiaries &

  6. Slide 6: WHSP Listed Investment Portfolio (excluding subsidiaries & associates)

    WHSP (Holding Company) For personal use only Listed Investment Portfolio (excluding subsidiaries & associates) ƒ Market value of portfolio $396 million ƒ $70m was invested in the equity market ƒ Proceeds from disposals $33m ƒ Investment & disposals due to takeovers were $20m ƒ Dividend income $20m (

  7. Slide 7: WHSP Listed Investment Portfolio

    WHSP (Holding Company) For personal use only Listed Investment Portfolio ƒ Equity market acquisitions included Brickworks Invest. Co. SP Telemedia PrimeAg Aust. Telstra Corp. Ruralco Holdings Westpac Bank ƒ Disposals & takeover proceeds included Brambles Huntley Investment Company St George Bank

  8. Slide 8: Controlled Entities: New Hope Corporation

    Controlled Entities New Hope Corporation Limited For personal use only ƒ Profit after tax $150.5 million from operations, excluding interest income, up 82% ƒ $1.7 billion profit after tax from sale of New Saraji Coal Project ƒ $1.2 billion contribution to Group profit $1.03 billion non-regular $160

  9. Slide 9: Controlled Entities: New Hope Corporation Dividends

    Controlled Entities New Hope Corporation Limited For personal use only ƒ Final dividend of 4.5 cents fully franked (to be paid 10 November 2009) ƒ Special dividend of 72.75 cents fully franked (to be paid 10 November 2009) ƒ Total dividends of 82 cents fully franked for the year.

  10. Slide 10: Controlled Entities: New Hope Corporation Coal Production

    Controlled Entities New Hope Corporation Limited For personal use only ƒ Coal production up 15.5% to 5.1 million tonnes PA ƒ Higher sales prices for both export and domestic sales ƒ Sales tonnages up 12% ƒ Planning for Acland expansion to 4.8 million tonnes PA is well advanced ƒ Acland potential exp

  11. Slide 11: New Hope Corporation: Queensland Bulk Handling

    Controlled Entities New Hope Corporation Limited For personal use only Queensland Bulk Handling Throughput up 12% on last year to 6.1 million tonnes Port Expansion ƒ Increase throughput to 10 million tonnes PA ƒ On track for scheduled completion in October 2010

  12. Slide 12: New Hope Corporation: Arrow Energy investment

    Controlled Entities New Hope Corporation Limited For personal use only ƒ Arrow Energy investment – unrealised gain of $407m (before tax) ƒ Wetalla water project ƒ Construction is complete ƒ Commissioning is expected in October 2009 ƒ Effectively drought proofs the New Acland mine

  13. Slide 13: Controlled Entities: Pitt Capital Partners

    Controlled Entities Pitt Capital Partners Limited For personal use only ƒ Corporate advisory ƒ Sale of New Saraji project ƒ $13 million contribution to Group profit

  14. Slide 14: Associated Entities: Australian Pharmaceutical Industries

    Associated Entities Australian Pharmaceutical Industries For personal use only ƒ Half Year ended 28 February 2009 - Sales Revenue $1.7 billion (up 8.1% on 1st half 2008) - Profit after tax $6.7 million (up 8.7% on 1st half 2008) ƒ Contributed $3.9 million to WHSP Group Profit

  15. Slide 15: Associated Entities: Brickworks

    Associated Entities Brickworks Limited For personal use only ƒ Profit from regular items after tax was $114 million up 5.1% ƒ Profit after tax and non-regular items was $305 million up 201% (results include equity accounted contribution from WHSP) ƒ Result demonstrates benefit of diversification ƒ F

  16. Slide 16: Associated Entities: Clover Corporation Limited

    Associated Entities Clover Corporation Limited For personal use only Year Ended 30 June 2009 ƒ Profit before tax $4.5 million up 47% on 2008 ƒ Total sales down 2% ƒ Contributed $0.9 million to WHSP Group Profit

  17. Slide 17: Associated Entities: Ruralco Holdings Limited

    Associated Entities Ruralco Holdings Limited For personal use only Half Year Ended 31 March 2009 ƒ Sales $412.6 million, down 4.1% ƒ Profit after tax $6.3 million, down 40.1% ƒ Net debt/equity reduced to 54.1% ƒ Interim Dividend 6 cents fully franked ƒ An Associate since June 2008 ƒ Contributed $2.6

  18. Slide 18: Associated Entities: SP Telemedia

    Associated Entities SP Telemedia Limited For personal use only ƒ Profit after tax of $17.7 million, up 194% ƒ EBITDA of $98.5 million, up 296% ƒ Generated net cash of $153 million (before interest, tax, capex and debt repayments) ƒ $81 million of debt repaid ƒ $75 million ahead on debt repayments

  19. Slide 19: Associated Entities: SP Telemedia Dividend and TPG Home Phone

    Associated Entities SP Telemedia Limited For personal use only ƒ Fully franked final dividend of 1 cent per share ƒ Contributed $4.9 million to Group Profit ƒ TPG Home Phone - coming soon ƒ $9.99 per month - ADSL bundled ƒ Rollout commences end of October 2009

  20. Slide 20: A Diversified Investment House

    Washington H. Soul Pattinson and Company Limited For personal use only “A Diversified Investment House” WHSP – Investments & Share Portfolio API – Wholesale & Retail Pharmaceuticals Brickworks – Brick & Tile Manufacturing Clover – Food Technology New Hope – Coal SPT – Telecommunications PCP - Mercha

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