Slide 1: Results Announcement for the full year ending 30 June 2012
For personal use only Results Announcement for the full year ending 30 June 2012 Centuria Capital Limited Presentation to Investors and Analysts
Slide 2: 2012 Financial Year Highlights
2012 Financial Year Highlights For personal use only Earnings* • Underlying FY12 - NPAT $4.9 million (FY11: $6.4 million) • Underlying Earnings per share 6.1c (FY11: 8.2c) • Statutory FY12 - NPAT $2.0 million (FY11: ($2.9 million)) • Statutory Earnings per share 2.5c (FY11: (3.7c)) Dividend / Capita
Slide 3: 2012 Financial Year Highlights: Business Developments
2012 Financial Year Highlights For personal use only Business Developments • Property Funds Management business unit established one Fund in FY12 - $58 million acquisition of 441 St Kilda Road • FY13 to date, Property Funds Management business unit has contracted to purchase two significant properti
Slide 4: 2012 Key Performance Metrics
2012 Key Performance Metrics For personal use only • Overall Group FUM balance of $1.9 billion despite only one property acquisition • Property underlying earnings impacted by low acquisition performance (since addressed) Total Funds Under Management ($bn) 2.50 2.00 Residential Mortgages 1.50 FUM Ce
Slide 5: 2012 Key Performance Metrics (continued)
2012 Key Performance Metrics (continued) For personal use only • Ongoing focus on Capital Management • Continued low level of corporate gearing (excluding non-recourse debt) Corporate Debt / Equity Ratio 40% 30% 20% 10% 0% 2009 2010 2011 2012 Debt / Equity at 30 June 2009 - 2012 (excluding non recou
Slide 6: Divisional Revenue
Divisional Revenue (excl. Benefit Funds) For personal use only Year Ended 30 June 2012 2011 Total Revenue $000’s $000’s Property Funds Management 11,799 13,015 Friendly Societies 12,628 13,453 Residential Mortgages 16,555 16,294 Property Investments* 3,239 2,937 Insurance 1,307 1,341 Other 1,109 1,0
Slide 7: Underlying Results
Underlying Results (excl. Benefit Funds) For personal use only Year Ended 30 June 2012 2011 Underlying earnings by major division $000’s $000’s - Centuria Property Funds 3,577 4,755 - Centuria Life 7,755* 9,137 - Residential Mortgages 2,661 3,495 - Insurance 1,065 1,037 - Corporate (6,709) (8,601) -
Slide 8: Centuria Property Funds: Key Achievements
Centuria Property Funds For personal use only Key Achievements FY12 • Purchase of 441 St Kilda Road, Melbourne for $58.0 million (Centuria’s largest individual purchase since inception) FY13 • Acquisition pipeline to exceed FY12 performance ($78 million contracted for first half) with good ongoing p
Slide 9: Centuria Property Funds (continued)
Centuria Property Funds (continued) For personal use only Key Achievements (continued) • Significant unrecorded future potential performance and sales fees (exceeds $10 million) • Continued corporate acquisition activity in FY12 with four bids totalling $2.9 billion FUM made Business Profile 29 Numb
Slide 10: Centuria Life (including Guardian)
Centuria Life (including Guardian) For personal use only • Centuria Life continues to generate strong and stable cash earnings to the Centuria Group • $712 million FUM as at 30 June 2012 (net reduction from FY11 3.26%) • Guaranteed Bonds continue to deliver consistent net returns in a challenging ye
Slide 11: Insurance
Insurance For personal use only • Continued consistent contributor to Centuria Group earnings – 2012 EBIT $1.065 million (FY11: $1.037m) • Divisional profit marginally increased • 25,108 policyholders as at 30 June 2012 • Maintained high customer retention over time Continued Strong Customer Retenti
Slide 12: Residential Mortgages
Residential Mortgages For personal use only • Value of residential reverse mortgage book at 30 June 2012 - $182 million (30 June 2011: $192m) • Non-recourse loan at 30 June 2012 - $152 million (30 June 2011: $165m) • Loan facility maturity date extended to 30 September 2013 • Significant embedded sh
Slide 13: 12-month Outlook (excluding benefit funds)
12-month Outlook (excluding benefit funds) For personal use only Centuria businesses are increasingly well positioned to benefit from future growth • Ongoing volatility in financial markets has created weaker asset prices and further accretive acquisition opportunities Strength in diversity • Core s
Slide 14: Appendices: Statutory Account Reconciliations
Appendices Statutory Account Reconciliations For personal use only General comment on statutory account reconciliation The “Statutory Accounts” show the consolidated corporate entities including the Benefit Funds which Centuria is required under AIFRS to consolidate. The “Benefit Funds” reflect valu
Slide 15: Appendix 1: Income Statement
Appendix 1: Income Statement for year ended 30 June 2012 For personal use only Statutory Accounts Benefit Funds Corporate $m $m $m Revenue 32 - 32 Revenue from Centuria Life 13 - 13 Net revenue from Benefit Funds - - - Other income 1 - 1 Total revenue 46 - 46 Finance costs 16 - 16 Employee benefits
Slide 16: Appendix 2: Balance Sheet
Appendix 2: Balance Sheet as at 30 June 2012 For personal use only Statutory Accounts Benefit Funds Corporate $m $m $m Assets Cash and equivalents 16 - 16 Trade and other receivables 11 - 11 Non-current assets held for sale 15 - 15 Financial assets at fair value - - - Other financial assets 20 - 20
Slide 17: Appendix 2: Balance Sheet (continued)
Appendix 2: Balance Sheet as at 30 June 2012 (continued) For personal use only Statutory Accounts Benefit Funds Corporate $m $m $m Liabilities Trade and other payables 6 - 6 Corporate debt 13 - 13 Borrowings – recourse to investment property only 16 - 16 Borrowings - Reverse Mortgages 152 - 152 Othe
Slide 18: Appendix 3: Cash Flow Statement
Appendix 3: Cash Flow Statement for year ended 30 June 2012 For personal use only Statutory Accounts Benefit Funds Corporate $m $m $m Cash flows from operating activities Interest received 1 - 1 Dividends received - - - Management fees received 20 - 20 Rent, trust and other income received 8 - 8 Ben
Slide 19: Appendix 3: Cash Flow Statement (continued)
Appendix 3: Cash Flow Statement for year ended 30 June 2012 (continued) For personal use only Statutory Accounts Benefit Funds Corporate $m $m $m Cash flows from financing activities Convertible Loans (6) - (6) Loans from related entities (1) - (1) Benefit Funds 1 1 - Proceeds from borrowings – Reve
Slide 20: Disclaimer
Disclaimer For personal use only This document has been issued by Centuria Capital Limited on, anything contained in or omitted from this document. ABN 22 095 454 336 and contains general information This document is not a recommendation or personal advice about Centuria Capital Limited and its rela