Infratil Limited · NZX:IFT
Infratil — Shareholder Meeting (August 2017)
29 slides from Infratil's shareholder meeting presentation, Aug 24, 2017
Slide 1: Infratil Annual Meeting
Infratil Annual Meeting For personal use only 24 August 2017
Slide 2: Agenda
Infratil Annual Meeting Agenda For personal use only • Chairman’s Introduction • Chief Executive’s Review • Presentation of the Annual Report for the year ended 31 March 2017 and the report of the auditor • Questions from Shareholders • Resolutions • Close and Afternoon Tea SKYCITY Convention Centre
Slide 3: Mark Tume, Chairman
Mark Tume Chairman For personal use only • Independent Director since 2007 and Chair since 2013 • Chair of the Board Nomination Committee and member of the Audit and Risk Committee • Chair of RetireAustralia • Not up for re-election INFRATIL 2017 3
Slide 4: Marko Bogoievski, Director
Marko Bogoievski Director For personal use only • Chief Executive of Infratil and on the Infratil Board since 2009 • Member of the Audit and Risk Committee • Chief Executive of the H.R.L. Morrison & Co group • Director of Trustpower and Longroad Energy • Retiring by rotation and up for re-election I
Slide 5: Alison Gerry, Director
Alison Gerry Director For personal use only • Independent Director since 2014 • Chair of the Audit and Risk Committee and member of the Board Nomination Committee • Director of Wellington International Airport • Not up for re-election INFRATIL 2017 5
Slide 6: Paul Gough, Director
Paul Gough Director For personal use only • Independent Director since 2012 • Member of the Board Nomination Committee • Not up for re-election INFRATIL 2017 6
Slide 7: Humphry Rolleston, Director
Humphry Rolleston Director For personal use only • Independent Director since 2006 • Retiring by rotation and up for re-election INFRATIL 2017 7
Slide 8: Peter Springford, Director
Peter Springford Director For personal use only • Appointed as an Independent Director of the Company by the directors on 1 November 2016 • Retiring in accordance with the NZX Listing Rules and up for election INFRATIL 2017 8
Slide 9: Chief Executive's Review
Infratil 2017 Annual Meeting For personal use only Report of the Manager Chief Executive’s Review
Slide 10: 2016/17 Year in review
2016/17 Year in review Strong execution with new platforms set for future growth For personal use only • EBITDAF increased 12.4% on prior year to $519.5 million • Over $500 million deployed in new areas during 2016/17 • Three core platforms now fully operational and likely to generate significant ne
Slide 11: 2016/17 Financial review
2016/17 Financial review Tailwinds in business performance and capital deployment For personal use only • Strong finish to the year delivered underlying EBITDAF of $519.5 million, up $57.4 million (12.4%) on the prior year of $462.1 million • Operating cash flow remained steady at $245 million • Por
Slide 12: 2016/17 Shareholder returns
2016/17 Shareholder returns -6.8% total return for the 12 months ended 31 March 2017 For personal use only • Valuation uncertainty is at its highest at this stage of our investment cycle - New platforms in new sectors and jurisdictions - Higher proportion of development options and pipeline - Regula
Slide 13: Investing in ideas that matter
Investing in ideas that matter We’re prepared to invest early and play our part in big challenges For personal use only • Why focus on ideas that matter? Examples of ideas that matter: - Early exposure to long-term trends creates strong - Lowering the cost of energy opportunities to deploy capital a
Slide 14: Australian renewable energy – Tilt Renewables
Australian renewable energy – Tilt Renewables Newly established business has pipeline and patience For personal use only • Development Pipeline - Total development pipeline of 2700 MW+, targeting 1700 MW+ consented by end CY17 - Secured utility-scale solar options (350 MW added in Queensland) - Acce
Slide 15: Australian data and connectivity - Canberra Data Centres
Australian data and connectivity - Canberra Data Centres Capability and capacity for rapidly increasing demand growth For personal use only • CDC has entered into a contract with Microsoft to deliver hyperscale cloud services from CDC’s two Canberra based data centre campuses • Strong endorsement of
Slide 16: U.S. renewable energy - Longroad Energy
U.S. renewable energy - Longroad Energy Opportunities for investment likely to exceed initial expectations For personal use only • Business plans and progress have exceeded initial investment expectations - Fully staffed, with 30 employees - 7.8 GW development pipeline (wind and solar) spread over t
Slide 17: U.S. renewable energy - Longroad Energy (cont'd)
U.S. renewable energy - Longroad Energy (cont’d) Three significant opportunities emerging For personal use only • Opportunity to use flexible capital to accelerate construction of greenfield options, ahead of tax reform biting - Potential c.480 MW solar and wind developments in Texas reaching financ
Slide 18: Australian eldercare services - RetireAustralia
Australian eldercare services - RetireAustralia Increasing development capability across a range of accommodation options For personal use only • Management targeting a sustainable development rate of >300 units per annum by FY21 • Decision to build ~250 apartments at high value Central Coast villag
Slide 19: Performing at the core
Performing at the core Positioning for model shifts and changing business models For personal use only Trustpower Wellington Airport – Well positioned in a world that is decentralising and – Major upgrade of facilities progressing. Transport hub and converging at the customer premise carpark facilit
Slide 20: Addressing portfolio performance
Addressing portfolio performance Positioning for model shifts and changing business models For personal use only NZ Bus Perth Energy – Major re-contracting activity (PTOM) ongoing. If – Generation is performing marginally ahead of budget and negotiated contracts are retained, the business is gas ret
Slide 21: 2017/18 Outlook
2017/18 Outlook Near term guidance maintained For personal use only • Near term guidance: ($Millions) 2017 2018 • Following strong first quarter performance, Trustpower expects its Actual Outlook FY18 EBITDAF to be in the range of $225 million to $245 million, Underlying EBITDAF 519.5 460-500 an inc
Slide 22: Infratil - committed to ideas that matter
Infratil - committed to ideas that matter The seeds have been planted For personal use only • 2017/18 is a breakthrough year in terms of resetting the portfolio: - Focus in the next phase is on maximising the value of new proprietary options - Overall portfolio is expected to tighten around renewabl
Slide 23: Presentation of the Annual Report and auditor's report
Infratil 2017 Annual Meeting For personal use only Presentation of the Annual Report for the year ended 31 March 2017 and the report of the auditor
Slide 24: Questions from Shareholders?
Infratil 2017 Annual Meeting For personal use only Questions from Shareholders?
Slide 25: Re-election of Mr Marko Bogoievski
Re-election of Mr Marko Bogoievski Resolution 1 For personal use only • Re-election of Mr Marko Bogoievski: That Marko Bogoievski who retires by rotation in accordance with the Company’s constitution and NZX Main Board/Debt Market Listing Rule 3.3.11, and is eligible for re-election, be re-elected a
Slide 26: Re-election of Mr Humphry Rolleston
Re-election of Mr Humphry Rolleston Resolution 2 For personal use only • Re-election of Mr Humphry Rolleston: That Humphry Rolleston who retires by rotation in accordance with the Company’s constitution and NZX Main Board/Debt Market Listing Rule 3.3.11, and is eligible for re-election, be re-electe
Slide 27: Election of Mr Peter Springford
Election of Mr Peter Springford Resolution 3 For personal use only • Election of Mr Peter Springford: That Peter Springford, who was appointed as a director of the Company by the directors on 1 November 2016 and retires in accordance with NZX Main Board/Debt Market Listing Rule 3.3.6, and is eligibl
Slide 28: Auditor's remuneration
Auditor’s remuneration Resolution 4 For personal use only • Auditor’s remuneration: That the Directors be authorised to fix the auditor’s remuneration. For Against Discretionary 219,189,080 (98.27%) 714,844 (0.32%) 3,147,912 (1.41%) INFRATIL 2017 28
Slide 29: Close and Afternoon Tea
Infratil Close and Afternoon Tea Annual Meeting For personal use only 24 August 2017