Slide 1: Half Year Results Presentation
Half Year Results Presentation Six months ended 30 June 2011 August 2011 1
Slide 2: Executive Summary
LSL Property Services plc Half Year results presentation August 2011 Executive Summary Continued strong cash generation and balance sheet • Net debt reduced by £8.1m to £6.2m after £2.8m spent on acquisitions and key initiatives • Dividend increased by 12% to 2.8p Underlying Group Operating profit o
Slide 3: Progress Highlights
LSL Property Services plc Half Year results presentation August 2011 Progress Highlights Agency – Asset Agency – Financial Surveying Agency – Branches Management Services LSL Market leader #2 in market Market leader #4 in market position 2011 2011 purchase market 2011 market down 4%* 2011 market dow
Slide 4: Financial Performance
LSL Property Services plc Financial Performance
Slide 5: Summary Group Financials
LSL Property Services plc Half Year results presentation August 2011 Summary Group Financials Actual H1 H1 £m 2011 2010 P&L Revenue 103.4 101.1 2% Underlying Group Operating Profit(1) 11.8 13.4 (12%) Margin 11.3% 13.3% Exceptionals 0.2 11.1 Adjusted Group Operating Profit(2) 7.3 20.3 EBITA Net Finan
Slide 6: Financial Performance – Surveying
LSL Property Services plc Half Year results presentation August 2011 Financial Performance – Surveying Surveying Segment Robust performance in deteriorating market H1 2011 H1 2010 Mortgage approvals ‘000 601 610 (2%) Strong 2010 key lender comparatives Jobs ‘000 248 272 (9%) H2 2010 – jobs 259,000 T
Slide 7: Financial Performance – Estate Agency
LSL Property Services plc Half Year results presentation August 2011 Financial Performance – Estate Agency Market H1 2011 H1 2010 Inc/ (dec) House Puchase Mortgage Approvals 284,000 296,000 (4%) Actual KPIs H1 2011 H1 2010 Inc / (dec) Exchange Units 12,787 11,921 7% Exchange Fees £m 25.1 23.9 5% FS
Slide 8: Financials – Cashflow and Debt
LSL Property Services plc Half Year results presentation August 2011 Financials – Cashflow and Debt Continued Strong Cash Generation £m H1 2011 H1 2010 Operating Cashflows Operating Profit 11.8 13.4 Depreciation 1.1 0.7 Working capital – investment in deferred marketing Working Capital (4.0) 0.4 fee
Slide 9: Market and Strategy
LSL Property Services plc Market and Strategy
Slide 10: Mortgage Market Overview
LSL Property Services plc Half Year results presentation August 2011 Mortgage Market Overview House Purchase Approvals Annual Growth in Mortgage Approvals (’000) (%) 800 700 40% 30% 600 20% 500 10% 400 0% 300 -10% -20% 200 -30% 100 -40% 0 Mar Apr Mar Apr Feb Feb Jan-10 Jan-11 May Jun Oct Nov May Jun
Slide 11: Strategy
LSL Property Services plc Half Year results presentation August 2011 Strategy Agency – Asset Agency – Financial Surveying Agency – Branches Management Services LSL position Market leader #2 in market Market leader #4 in market Service levels HEAL lettings and Integration of FS revenue Servic
Slide 12: Surveying: Operations and Development
LSL Property Services plc Half Year results presentation August 2011 Surveying: Operations and Development Market Share Operational Update Surveying Market Share High service levels maintained and regular positive feedback from all key clients ’000 2008 2009 H1 2010 H2 2010 H1 2011 Additional invest
Slide 13: Estate Agency – Market share growth
LSL Property Services plc Half Year results presentation August 2011 Estate Agency – Market share growth Market share* Key initiatives All branches now provided with ‘The Bridge’ 5% call centre service (£1.0m) 4% 1.2% 1.1% 3% 2% 3.5% Ongoing investment in upgrading branch 3.4% 1% 2.7% 3.0% managemen
Slide 14: Estate Agency – Counter Cyclical Income
LSL Property Services plc Half Year results presentation August 2011 Estate Agency – Counter Cyclical Income Balanced Growth: Asset Management and Lettings £m Total H1 asset management and lettings 45.0 income up 10% to £21m 40.0 35.0 • Lettings up 19% 30.0 25.0 • Asset Management down 4% 20.0 Rolli
Slide 15: Estate Agency – other businesses
LSL Property Services plc Half Year results presentation August 2011 Estate Agency – other businesses Financial Services LSL – mortgage applications* Acquisitions of First Complete and Pink boosted £4.0 bn LSL’s scale and importance in the mortgage £3.2 bn market £3.0 bn Total LSL lending up from £1
Slide 16: Summary
LSL Property Services plc Half Year results presentation August 2011 Summary Good results despite transaction volumes circa 50% of historic normalised levels and investment in new initiatives • impressive Agency performance with strong growth in market share, revenue, profit and pipelines • robust t
Slide 17: Appendices
LSL Property Services plc Appendices
Slide 18: LSL’s Genesis
LSL Property Services plc Half Year results presentation August 2011 LSL’s Genesis LSL’s business transformation from a loss making insurance distribution arm Key Events July 2001 October July February January January New Acquisition of Acquisition of onwards First Complete Completion on management
Slide 19: Who are We Now?
LSL Property Services plc Half Year results presentation August 2011 Who are We Now? LSL Property Services plc Residential Property Buyers and Sellers Customer Capture Estate Agency and Surveying Financial Services Strategic Business Cross Selling Surveying Surveying Surveying Current Surveyors (Emp