Djerriwarrh Investments Limited · ASX:DJW
Djerriwarrh Investments — FY2021 Earnings Presentation
19 slides from Djerriwarrh Investments's earnings presentation, July 2021
Slide 1: Djerriwarrh Full Year Results | July 2021
Djerriwarrh Full Year Results | July 2021
Slide 2: Disclaimer
Disclaimer Djerriwarrh Investments Limited, its related entity (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 wa
Slide 3: Agenda
Agenda • Overview and Objectives – Mark Freeman • Financial Year in Summary – Andrew Porter • Results in Detail – Brett McNeill • Portfolio Update – Olga Kosciuczyk • Outlook – Mark Freeman Djerriwarrh Full Year Results – July 2021 3
Slide 4: Overview and Objectives
Overview and Objectives Djerriwarrh Full Year Results – July 2021 4
Slide 5: Overview
Overview • Djerriwarrh is one of the largest income focused Listed Investment Companies (‘LIC’). • Djerriwarrh listed on the ASX in 1989. Shareholders get the benefit of full transparency associated with being an LIC, as well as the high governance standards delivered by an Independent Board of Dire
Slide 6: Investment Objectives
Investment Objectives • Djerriwarrh primarily seeks to provide an enhanced level of fully franked income, that is higher than what is available from the S&P/ASX 200 and which is delivered at a low cost to shareholders. • Djerriwarrh also aims to provide shareholders with attractive investment return
Slide 7: Financial Year in Summary
Financial Year in Summary Djerriwarrh Full Year Results – July 2021 7
Slide 8: Financial Year in Summary
Financial Year in Summary *Assumes an investor can take full advantage of the franking credits Djerriwarrh Full Year Results – July 2021 8
Slide 9: Results in Detail
Results in Detail Djerriwarrh Full Year Results – July 2021 9
Slide 10: Results in Detail: Profit and Loss – Net Operating Result
Results in Detail: Profit and Loss – Net Operating Result FY20 FY21 $m $m Change Dividend and Distribution Income $28.6 $21.7 -24% Option Income $7.7 $12.1 58% Operating Income (incl Other Income) $37.1 $33.9 -9% Finance and Administration Costs $6.3 $5.1 -19% Operating Result before Tax Expense $30
Slide 11: Results in Detail: Profit and Loss – Dividends
Results in Detail: Profit and Loss – Dividends FY20 FY21 $m $m Change Dividend and Distribution Income $28.6 $21.7 -24% Djerriwarrh Dividend and Distribution Income Djerriwarrh Dividend and Distribution Received ($m) Income Yield vs Market Source: Factset. Note that the Djerriwarrh Dividend and Dist
Slide 12: Results in Detail: Profit and Loss – Dividends
Results in Detail: Profit and Loss – Dividends Major Bank Dividends (per share) Infrastructure Stock Dividends (per share) Source: Company Reports. Note that the Financial Year periods relate to Djerriwarrh’s Financial Year reporting. Djerriwarrh Full Year Results – July 2021 12
Slide 13: Results in Detail: Profit and Loss – Options
Results in Detail: Profit and Loss – Options FY20 FY21 $m $m Change Option Income $7.7 $12.1 58% Djerriwarrh’s Option Income Received ($m) Djerriwarrh’s Option Income Yield Djerriwarrh Full Year Results – July 2021 13
Slide 14: Portfolio Update
Portfolio Update Djerriwarrh Full Year Results – July 2021 14
Slide 15: Portfolio Update: Changing shape of the Portfolio
Portfolio Update: Changing shape of the Portfolio Stocks exited Increased holdings in quality income stocks In the last two years, our sources of income have shifted from companies where dividend growth looks challenged to companies offering a growing dividend profile. Djerriwarrh Full Year Results
Slide 16: Portfolio Update: Balancing growth and dividends
Portfolio Update: Balancing growth and dividends Quality companies delivering strong earnings growth which is underestimated by the market over the long term – widest moats, longest growth runways. Opportunities in quality smaller companies that generate growth and pay solid dividends. Early identif
Slide 17: Outlook
Outlook Djerriwarrh Full Year Results – July 2021 17
Slide 18: Outlook
Outlook • The ongoing strength of the market has been a feature over the year, with share prices at record highs in some instances. • The outlook for dividends across the Australian share market is mostly positive. • The outlook for option income is mostly influenced by market volatility and the lev
Slide 19: Djerriwarrh
Dyerriwarrh AUSTRALIAN EQUITIES, ENHANCED YIELD.
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