Euroz Hartleys Group Limited · ASX:EZL
Euroz Hartleys — Shareholder Meeting (November 2017)
22 slides from Euroz Hartleys's shareholder meeting presentation, Nov 3, 2017
Slide 1: AGM Presentation
AGM Presentation November 2017
Slide 2: Company Snapshot
Company Snapshot Euroz is a growing and diversified financial services company Group FUM Market capitalisation $1.33b1 $188.4m1 $193m Cash & investments increasing $118.6m1 fully franked dividends in 17 years A strong platform for future diversification and growth Note 1: As at 31 October 2017 AGM P
Slide 3: Group Structure
Group Structure AGM Presentation – November 2017 3
Slide 4: Euroz Limited Ownership
Euroz Limited Ownership Ice Cold Investments 6% Institutions Staff ownership of 40% 13% Increasing institutional ownership Retail 41% Improving liquidity Directors 25% Performance Rights Plan = ongoing capital management Staff 15% As at 30 September 2017 High staff ownership = strong alignme
Slide 5: Historical Share Price/NTA
Historical Share Price/NTA $3.00 Strong balance sheet/zero debt Defensive in difficult markets $2.50 Historical leverage in good markets $2.00 Western Australia and commodity prices improving but volatile NTA (A$) $1.50 $1.00 $0.50 $0.00 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Slide 6: Full Year Results to June 2017
Full Year Results to 30 June 2017 Profitability driven by strong equity capital markets activity, increases in WIC and OZG share prices and growth in group FUM Euroz Securities WIC investment 19.4% performance equity raisings OZG investment $865m 20.1% performance Group FUM up Net profit after tax $
Slide 7: Historical Profitability
Historical Profitability Strong past correlation to resource markets (Small Resources Index) Strategy is to generate diverse revenue steams whilst maintaining traditional upside leverage to resources $50 7000 Small Resources - Index $41.9 $40 6000 5000 $30 $26.3 $26.6 $26.6 NPAT (A$m) $22.2 4000
Slide 8: Dividend History
Dividend History Euroz has paid $193 million fully franked dividends over 17 years A$m Annual Dividend Paid Cumulative Dividend paid 220 200 180 160 Past: 140 Paid $193m dividends over 34 consecutive half year periods 120 High payout ratio 100 Future: 80 Aim to increase the base level of 60 di
Slide 9: Stockbroking & Corporate Finance
Stockbroking & Corporate Finance Euroz Securities - 17 year history of partnering and supporting clients through research, dealing and corporate finance services oz Securities Quality equities research is the foundation of our business Research Highly rated research from our team of seven analys
Slide 10: Stockbroking & Corporate Finance
Stockbroking & Corporate Finance Major transactions during FY 17 AGM Presentation – November 2017 10
Slide 11: Wealth Management
Wealth Management Entrust Private Wealth Management - 15 year track record Combines its deep knowledge of managed financial planning, discretionary advice and portfolio management with its portfolio administration service to create a comprehensive wealth management solution for each individual cli
Slide 12: Funds Management
Funds Management Westoz Funds Management – Western Australian connected investment opportunities Westoz Funds Management (WFM) is a 100%-owned subsidiary of Euroz Limited established in 2005 WFM manages portfolios of Australian equities on behalf of two listed investment companies, Westoz Invest
Slide 13: Funds Management
Funds Management Prodigy Investment Partners – boutique funds management joint venture Prodigy Investment Partners (Prodigy) is an 80% – owned joint venture between Euroz Limited and former MLC CEO Steve Tucker The first of these new boutique fund management partnerships was announced in July 20
Slide 14: Euroz Strategy
Euroz Strategy Business attributes Base Dividend Dividend Market Upside Rating/EV Stockbroking and Corporate Finance Daily brokerage turnover provide a base of revenues High impact (but cyclical) transactional fee upside (ECM/M&A) Wealth Management Growing recurring base fee revenue as fun
Slide 15: Euroz Strategy
Euroz Strategy The major driver of past dividends have been Corporate Finance fees (equity capital market and M&A) and Funds Management performance fees (WIC and OZG) ECM and performance fees have typically occurred together in strong resource markets (2007, 2008, 2010 and 2011) Strategy: Grow t
Slide 16: Euroz Balance Sheet
Euroz Balance Sheet Strong balance sheet/zero debt Deploying modest capital into Prodigy Investment Partners Market Valuation: $61 - $70m enterprise value for eight brands across three major business divisions Cost Market Look through value1 Westoz $39.0m $37.7m $41.4m Ozgrowth $27.7m $25.5m $
Slide 17: Funds Under Management
Funds Under Management Strong organic FUM growth from a diverse range of businesses $1,400 $1,326m $1,205m WIC ($154m) $1,200 $1,143m Funds Management $301m $1,000 $962m OZG ($75m) $923m $800 Flinders ($14m) Entrust Wealth Management $600 $752m Dalton Street ($58m) $400 Entrust ($752m) $200 Euroz Se
Slide 18: Trading Update
Trading Update Euroz Group Summary Modest first 4 months of the 2018 financial year Wealth Management FUM (ESL and Entrust) now over $1.02 billion Unaudited NPAT $8.2 million (28.7% Cash/71.3% Non-cash) Euroz Securities Positive markets but overall broking revenues volatile Moderate ECM ac
Slide 19: Trading Update
Trading Update Prodigy Investment Partners Sales team making good inroads into retail platform market Excellent Dalton street capital progress / strong investor interest Building good relationship with consultants and platforms Flinders Investment Partners Improved 4 month investment perform
Slide 20: Summary
Summary Euroz is a growing and diversified financial services company Solid full year WA & Ranked #1 result / 7.25 commodity in WA based cents fully prices volatile equity capital franked dividend but improving raisings1 Established track A robust & Diversification record provides growing balance st
Slide 21: Disclosure
Disclosure Disclaimer & Disclosure Euroz Limited (EZL) and its related entities and each of their respective directors, officers and agents (together the Disclosers) have prepared the information contained in these materials in good faith. However, no warranty (express or implied) is made as to the
Slide 22: Thank you
Thank you Euroz Limited Level 18 Alluvion 58 Mounts Bay Rd Perth Western Australia 6000 euroz.com
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