Bell Financial Group Limited · ASX:BFG
Bell Financial — H1 2020 Earnings Presentation
15 slides from Bell Financial's earnings presentation, Aug 12, 2020
Slide 1: Bell Financial Group reports an interim profit of $23.5 million before tax
12 August 2020 Bell Financial Group reports an interim profit of $23.5 million before tax, For personal use only and a 4 cents per share fully franked dividend Key Highlights $129.6 million revenue, a 7.4% increase on the previous corresponding period (pcp). $23.5 million profit before tax (pbt)
Slide 2: Half Year Results
| use only ‘CBELL FINANCIAL GROUP (ASX: BFG) HALF YEAR RESULTS af @_ 12 AUGUST 2020 ©) LL BELL FINANCIAL GROUP
Slide 3: First half highlights
For personal use only Revenue Profit before tax Funds under advice Interim dividend $129.6 m $23.5 m $54.4 b 4¢ share 7.4% ON 1H 2019 5% ON 1H 2019 7% ON 1H 2019 * 14% ON 1H 2019 ─ First half revenue $129.6 million, up 7.4% on the previous corresponding period (p.c.p). ─ First half profit before tax
Slide 4: Retail / Wholesale business overview
For personal use only RETAIL / WHOLESALE RETAIL ─ Retail Equities Institutional & Financial Planners ─ Margin Lending online share trading ─ Institutional Equities ─ Cash Accounts Private Client online share trading ─ International Equities ─ Structured Products ─ 24-hour Futures & FX Desk White lab
Slide 5: Full service broking, ECM and financial advisory
For personal use only One of Australia’s largest full service broking, Equity Capital Markets and financial advisory firms. BROKERAGE REVENUE ECM REVENUE ($M) PAS & SUPER SOLUTIONS (RETAIL & WHOLESALE) ($M) REVENUE ($M) 90.0 83.0 20 18.9 100 92.6 94.6 91.6 17.5 85.8 80.0 18 90 16.1 76.9 70.0 66.4 16
Slide 6: Platforms and Technology
For personal use only Consistent growth in revenue, profit, sponsored holdings and client accounts over an extended period. ─ $12.2 million revenue 1H 2020, up 42% on p.c.p. ─ $3.3 million profit before tax 1H 2020, up 140% on the p.c.p. ─ $21.3 billion in Sponsored Holdings, up 6% on p.c.p. ─ 193,0
Slide 7: Margin Lending, Cash and Structured Products
For personal use only The only non-bank margin lending business in Australia. ─ $7.5 million revenue 1H 2020, up 50% on 1H19 ─ $2.4 million profit before tax 1H 2020, up 120% on the p.c.p ─ $447 million loan book 1H 2020, up 65% on the p.c.p ─ $472 million cash book 1H 2020, up 51% on the p.c.p ─ Co
Slide 8: Funds under advice and sponsored holdings
FUNDS UNDER ADVICE ($B)* CHESS SPONSORED HOLDINGS ($B) PAS ($B) For personal use only ↓ 7% on December 2019 ↓ 7% on December 2019 ↓ 7% on December 2019 4 70 60 52.1 3.4 58.4 48.5 3.5 3.1 60 54.4 50 42.2 41.6 3 2.7 2.8 50 47.2 46.8 40 34.4 22.0 2.3 38.8 21.3 2.5 40 29.3 15.7 2 33.1 16.7 30 2 10.8 30
Slide 9: Technology and Proprietary Platforms; Products and Services
For personal use only 1. Technology and Proprietary Platforms Committed to investment in market leading technology and proprietary platforms. 2. Products and Services Development of quality in-house products and services. TECHNOLOGY AND PLATFORMS PRODUCTS AND SERVICES FUSION – CRM TPP and Third Part
Slide 10: Growth in recurring revenues
For personal use only Investment in Technology and Platforms, and Products and Services businesses is producing material growth in recurring revenues. ─ Approximately 11% of Group FUA, $5.9 billion, currently use our RECURRING PLATFORMS & TECHNOLOGY AND PRODUCTS & SERVICES REVENUE ($M) various techn
Slide 11: Half Year Results
For personal use only BELL FINANCIAL GROUP (ASX:BFG) HALF YEAR RESULTS Page 10
Slide 12: Consistent growth across all business divisions
For personal use only Consistent growth across all business divisions over an extended period. REVENUE ($M) NPAT ($M) FUNDS UNDER ADVICE ($B)* EARNINGS PER SHARE (CENTS) 300 35 70 12 32.4 CAGR +8.1% CAGR +10.4% 254 CAGR +15.6% 58.4 CAGR +10.5% 10.2 30 60 54 250 10 220 206 24.4 47.2 8.5 25 50 46.8 7.
Slide 13: Solid cash-backed balance sheet with no core operating debt
For personal use only We have a solid cash-backed balance sheet with no core operating debt EBITDA MARGIN RETURN ON EQUITY DIVIDENDS PAID ($M) AND GROSS BALANCE SHEET DIVIDEND YIELD (%) As at 30 June 2020 24% $30 16% 20% $M 14.3% 18.8% 18.8% 22.0% 22.0% 19% 14% 22% $25 Cash 88.2 CAGR +6.6% CAGR +13%
Slide 14: BFG share price
For personal use only BFG SHARE PRICE Market capitalisation $398m JUNE 2015 – JUNE 2020 EV/EBITDA multiple1 6.5x Dividend yield (gross) 2 9.8% Price earnings ratio (PE) 3 12.1x 1 based on 12 month EBITDA to 30 June 2020, and BFG share price at 11 August 2020 2 based on final 2019 and interim 2020 di
Slide 15: Important Disclaimer
Important Disclaimer The material contained in this presentation has been prepared by Bell Financial Group Limited ABN 59 083 194 763 (Bell Financial Group) and is general background information about the businesses, operations and activities of Bell Financial Group and its subsidiaries, current as