Prime Financial Group Limited · ASX:PFG
Prime Financial — Shareholder Meeting (November 2024)
36 slides from Prime Financial's shareholder meeting presentation, Nov 29, 2024
Slide 1: 2024 Annual General Meeting
29 November 2024 2024 Annual General Meeting In accordance with the requirements of the ASX Listing Rules, Prime Financial Group Ltd (Prime - ASX:PFG) is pleased to provide a copy of the presentation to be given by Prime’s Chairman and Managing Director/CEO, Mr Simon Madder, at the Company’s Annual
Slide 2: Chairman's Address
2024 Annual General Meeting Chairman’s Address Good morning attendees. On behalf of my fellow Directors, Mr. Matt Murphy, Mr. Tim Bennett and new independent director, Ms. Andrea Slingsby, it gives me great pleasure to welcome you to this hybrid 2024 Annual General Meeting of Prime Financial Group L
Slide 3: Chairman's Address: Growth track record and acquisitions
Prime’s track record of delivering Underlying EBITDA (members/shareholders) growth was extended to a sixth consecutive year since repositioning our firm as a ‘OneConnected’ Advice, Capital & Asset Management Group. We have been on a journey building Prime into a leading player in the ‘Business’ and
Slide 4: Chairman's Address: Closing remarks
The business environment is not without risk, risks will continue to emerge, but we are confident that our culture, financial strength, and operating model supported by increasing levels of recurring revenue positions us well. As a Group we will continue to aspire, innovate, grow and impact whilst f
Slide 5: AGM Presentation
AGM Presentation Prime Financial Group Ltd (ASX:PFG)
Slide 6: Important Notice & Disclaimer
Important Notice & Disclaimer This investor presentation (Presentation) has been prepared by Prime Financial Disclaimer Group Limited (‘Prime’). No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and Summa
Slide 7: Directors
Directors Simon Madder Andrea Slingsby Tim Bennett Matt Murphy Independent Non-Executive Director Executive Director Executive Director Chief Executive Officer, Managing Director & Chairman Prime Financial Group AGM Presentation 3
Slide 8: Agenda
Agenda 1. 2. 3. Chairman’s Address – Simon Madder Managing Director & CEO Presentation – Simon Business of the Meeting Madder Prime Financial Group AGM Presentation 4
Slide 9: Online attendees voting process
Online attendees voting process Step 1. Visit https://meetnow.global/MMTUT2W Step 2. Enter Username (SRN or HIN) and select your country. If Australia, also enter your post code Prime Financial Group AGM Presentation 5
Slide 10: Online attendees voting process
Online attendees voting process Step 3. When the poll is open, select the ‘Vote’ icon and the voting options will appear on your screen. To vote, select your voting direction. A tick will appear to confirm receipt of your vote. Prime Financial Group AGM Presentation 6
Slide 11: Proxies received for Resolution 1: Remuneration Report
Proxies received for Resolution 1: Remuneration Report In favour Against Proxy’s discretion Abstention 75,241,556 446,971 1,021,450 3,793,738 (98.09%) (0.58%) (1.33%) Prime Financial Group AGM Presentation 7
Slide 12: Proxies received for Resolution 2: Election of Andrea Slingsby
Proxies received for Resolution 2: Election of Andrea Slingsby In favour Against Proxy’s discretion Abstention 130,959,199 40,600 1,021,450 311,625 (99.20%) (0.03%) (0.77%) Prime Financial Group AGM Presentation 8
Slide 13: Proxies received for Resolution 3: Re-election of Matt Murphy
Proxies received for Resolution 3: Re-election of Matt Murphy In favour Against Proxy’s discretion Abstention 131,182,735 128,689 1,021,450 0 (99.13%) (0.10%) (0.77%) Prime Financial Group AGM Presentation 9
Slide 14: Proxies received for Resolution 4: Performance Rights to Simon Madder
Proxies received for Resolution 4: Approval of issue of Performance Rights to Simon Madder In favour Against Proxy’s discretion Abstention 73,692,291 907,284 1,029,435 56,703,864 (97.43%) (1.20%) (1.37%) Prime Financial Group AGM Presentation 10
Slide 15: Proxies received for Resolution 5: Performance Rights to Tim Bennett
Proxies received for Resolution 5: Approval of issue of Performance Rights to Tim Bennett In favour Against Proxy’s discretion Abstention 73,700,276 907,284 1,021,450 56,703,864 (97.43%) (1.20%) (1.35%) Prime Financial Group AGM Presentation 11
Slide 16: Proxies received for Resolution 6: Ratification of Prior Share Issue
Proxies received for Resolution 6: Ratification of Prior Issue of Fully Paid Ordinary Shares for acquisition of Altor Capital Pty Ltd In favour Against Proxy’s discretion Abstention 127,410,651 269,488 1,021,450 3,631,285 (98.99%) (0.21%) (0.80%) Prime Financial Group AGM Presentation 12
Slide 17: Proxies received for Resolution 7: Ratification of Prior Share Issue
Proxies received for Resolution 7: Ratification of Prior Issue of Fully Paid Ordinary Shares for acquisition of EPM Pty Ltd In favour Against Proxy’s discretion Abstention 124,119,673 253,188 1,031,450 6,879,969 (98.98%) (0.20%) (0.82%) Prime Financial Group AGM Presentation 13
Slide 18: Proxies received for Resolution 8: Refresh of Performance Rights Plan
Proxies received for Resolution 8: Refresh of Performance Rights Plan In favour Against Proxy’s discretion Abstention 73,379,151 2,300,152 1,031,450 55,622,121 (95.66%) (3.00%) (1.34%) Prime Financial Group AGM Presentation 14
Slide 19: Proxies received for Resolution 9: Replacement of Constitution
Proxies received for Resolution 9: Replacement of Constitution In favour Against Proxy’s discretion Abstention 105,516,595 25,250,893 1,031,450 533,936 (80.06%) (19.16%) (0.78%) Prime Financial Group AGM Presentation 15
Slide 20: Managing Director and CEO's Presentation
Managing Director and CEO’s Presentation Prime Financial Group AGM Presentation Prime Financial Group Full Year FY23 Presentation 16
Slide 21: Who We Are
Who We Are Connecting Aspirations, Opportunities & Expertise PFG are a market leading Advice, Capital & Asset Management Group. Our focus is on Emerging Businesses, Founders and High Net Worth Investors. We believe in uncapped opportunities, prosperous and sustainable financial futures and impactful
Slide 22: What We Do
What We Do PFG has two segments and four key service lines plus a centralised/shared services structure Business Segment Prime Accounting & Business Accounting & Tax Compliance, Business Growth Advisory & Strategy, Outsourced CFO & Accounting Services plus Grants 32% of Group Revenue Advisory (PABA)
Slide 23: How We Do It
How We Do It Building scale organically, and via acquisition to add capabilities and clients Complete solutions for Business & Wealth Business Segment Wealth Segment Accounting, Tax, R&D and Business Wealth Advisory SMSF Advice & Management Administration Advice Corporate Outsourced Finance, M&A CFO
Slide 24: FY24 Financial Highlights: Delivering on guidance
FY24 Financial Highlights: Delivering on guidance +21% to +18% to 25% $40.8M $10.2M (FY23: 26%) Underlying EBITDA Underlying EBITDA Total Revenue (members/shareholders) Margin +7% to 1.1x Underlying 1.37 cps (vs 2.22 cps) 1.60 cps EBITDA to Net Debt Ratio Reported Earnings per Net Debt of $11.3M Ful
Slide 25: FY24 Operational Highlights: Building scale
FY24 Operational Highlights: Building scale • Strong revenue growth across both of our operating segments • Wealth up 24% • Business up 19% • Integration of acquisitions progressing successfully, with new businesses seamlessly fitting into the “OneConnected” model • Funds Management (Altor), Capital
Slide 26: History of Strong Revenue Growth
History of Strong Revenue Growth $M 50 45 70%+ of total revenue is A$41M generated from existing clients 40 A$34M on a recurring basis 35 30 A$26M Revenue growth has accelerated 25 A$21M A$22M over the past 3 years vs the prior 20 periods 15 FY20 FY21 FY22 FY23 FY24 On target to achieve $50M in $50M
Slide 27: Our Strategic Pillars – How We Think About The Business
Our Strategic Pillars – How We Think About The Business Prime Place Compel Simplify The Grow To Be The Client Business Revenue Streams Our people & culture Growth, Business efficiency Through organic OneConnected, driving bottom line growth and Integrated Solutions results acquisitions Prime Financi
Slide 28: Strategy for Growth – Business & Wealth
Strategy for Growth – Business & Wealth • Organic growth in existing service lines and new services Our goal is to double revenue from $26M in FY22 to $50M in FY25 – on track • Recruiting people with an existing revenue and client base And then double revenue again to $100M within 3-5 years – on • C
Slide 29: Why Ownership Matters
Why Ownership Matters Our people are our biggest asset • Currently 44% of our company is owned by the staff and associates 44% • We encourage our staff to have an ‘ownership’ mentality and to work collaboratively, enabling them to help co-create the firm of the future Staff & Associates Shareholders
Slide 30: Outlook FY25: Expect To Generate 15-20%+ Revenue & Earnings Growth
Outlook FY25: Expect To Generate 15-20%+ Revenue & Earnings Growth 1 2 3 4 Strong Organic Delivering Scale Driving Growth Growth Accretive Efficiencies to in Revenue, Acquisitions Drive Earnings Earnings & Dividends • Organic growth to be • Continued integration of • Investment in team, • Prime expe
Slide 31: Business of the Meeting
Business of the Meeting 01 Consideration of the Financial Statements Note: There is no requirement for shareholders to approve these statements 02 Adoption of the Remuneration Report 03 Election of Andrea Slingsby 04 Re-Election of Matt Murphy 05 Approval of issue of Performance Rights to Simon Madd
Slide 32: Business of the Meeting
Business of the Meeting 07 Ratification of Prior Issue of Fully Paid Ordinary Shares for acquisition of Altor Capital Pty Ltd 08 Ratification of Prior Issue of Fully Paid Ordinary Shares for acquisition of Equity Plan Management Pty Ltd and the associated business conducted by Remuneration Strategie
Slide 33: Business of the Meeting
Business of the Meeting Financial Statements and Resolution 1: Resolution 2: Resolution 3: Re-Election Reports Remuneration Report Election of Andrea Slingsby of Matt Murphy To receive and consider the The second item on the agenda is The third item on the agenda is the The fourth item on the agenda
Slide 34: Business of the Meeting
Business of the Meeting Resolution 4: Approval of Issue of Resolution 5: Resolution 6: Ratification of Prior Performance Rights to Simon Approval of Issue of Performance Issue of Fully Paid Ordinary Shares Madder Rights to Tim New Bennett for acquisition of Altor Capital Pty Revenue Ltd The fifth it
Slide 35: Business of the Meeting
Business of the Meeting Resolution 7: Ratification of Prior Resolution 8: Resolution 9: Replacement of Issue of Fully Paid Ordinary Shares Refresh of Performance Rights Plan Constitution for acquisition of Equity Plan New Management Pty Ltd and the Revenue associated business conducted by Contributo
Slide 36: Contact
CONTACT Simon Madder Ben Priestley Eric Kuret CEO, Managing Director & Chairman Head of Finance & Investor Relations Automic Markets Prime Financial Group Ltd Prime Financial Group Ltd T (03) 9827 6999 T (03) 9827 6999 T (61) 417 311 335 E simonm@primefinancial.com.au E benp@primefinancial.com.au E
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