Slide 1: FY20 Full Year Results Presentation
FY20 FULL YEAR RESULTS PRESENTATION 11 August 2020 Stuart Irving, Chief Executive Officer and President Nick Oldfield, Chief Financial Officer 1
Slide 2: FY20 Results
FY20 Results Resilient operating performance Margin Income headwinds Balance Sheet strength ▼ Margin ▼ Net Debt / ▲ Revenue Income EBITDA2 $2.3bn 1.9% $201m 18.3% 1.93x 0.09x Final Management ▼ Management ▼ Dividend Per EBITDA1 EPS Share $650m 3.7% 56.3cps 19.8% 23.0cps Maintained Notes: All figur
Slide 3: FY20 Management EPS
FY20 Management EPS Business tracking to FY20 plan, COVID-19 disruption, delivered on revised guidance FY20A Management EPS vs. FY19A ▼ 5% + ▼10.2% + ▼ 4.6% = ▼ 19.8% Operating impacts One off Management actions • January and February earnings 8% ahead of budget • Forecast assisted by 2H seasonality
Slide 4: Pandemic response
Pandemic response Impacts Response › Preserving jobs, supporting employees › Workplace health and safety › Work From Home (“WFH”) measures deployed for 92% › Group transactional earnings deterioration, recurring of workforce Group revenues resilient › Increased market disclosure communications and ›
Slide 5: FY20 key priorities – execution scorecard
FY20 key priorities – execution scorecard Delivering on strategic plans Progress Result Progress Result › Marginal operating earnings 1. Progress the › Asset migrations completed 4. Continue to deliver increase in US Register › Cost out program underway Maintenance restructure of our measurable › EB
Slide 6: FY21 Outlook
FY21 Outlook Management EPS guidance of around 50.0 cps Guidance FY21 Headwinds › While providing guidance is more challenging given heightened macro volatility, we remain committed to ongoing transparency › Margin Income yields reduce as term deposits run off › In constant currency, for FY21 we exp
Slide 7: FY21 Management EPS bridge
FY21 Management EPS bridge Positive earnings trajectory with improving margins FY21F Management EPS vs. FY20A ▼ c.11% • ~2 cents impact due to change in Amortisation policy • ~1 cent impact from growth in portfolio FY20 2H20 one off Reduced Incremental UKAR fixed fee UKAR cost Operational FY21 Manag
Slide 8: FY20 Management Results summary
FY20 Management Results summary Businesses operating resiliently, Margin Income declining, disciplined cost controls FY20 Actual FY19 Actual Variance FY20 Actual (at FY19 CC) Margin Income $201.4 $246.5 -18.3% $199.4 Total revenue $2,311.8 $2,356.5 -1.9% $2,281.2 Operating costs $1,662.1 $1,680.6 -1
Slide 9: Margin Income
Margin Income Margin Income decreased to $199.4m, -19.1% with $17.2bn average balances 25.0 Reflects reduction 140.0 125.2 in global interest 121.2 rates 116.0 120.0 20.0 99.9 89.4 100.0 86.4 83.4 79.0 79.6 USD millions USD billions 15.0 74.3 69.6 80.0 66.6 c.50.0 c.50.0 60.0 10.0 40.0 FY21 balances
Slide 10: Issuer Services
Issuer Services Resilient Register Maintenance with lower event-based revenues Mgmt EBITDA ex. Margin Income Revenue breakdown FY20 CC FY19 Actual CC Variance Register Maintenance $673.3 $700.8 -3.9% $183.7m ▼ 8.7% Corporate Actions $136.1 $157.9 -13.8% Stakeholder Relationship Management $59.2 $67.
Slide 11: Employee Share Plans
Employee Share Plans Equatex continues to deliver, upgrade to new platform underway Mgmt EBITDA ex. Margin Income Revenue breakdown FY20 CC FY19 Actual CC Variance Fee revenue $138.8 $130.4 +6.4% $44.6m ▼ 13.9% Transactional revenue $130.1 $128.2 +1.5% Margin income $11.5 $15.7 -26.8% Other revenue
Slide 12: Mortgage Services
Mortgage Services US asset servicing strategy on track, UK loan migration complete Mgmt EBIT ex. Margin Income Revenue breakdown FY20 CC FY19 Actual CC Variance US Mortgage Services $438.7 $360.7 +21.6% $33.4m ▼ 43.0% UK Mortgage Services $202.1 $255.2 -20.8% Total revenue $640.9 $615.9 +4.1% Mgmt E
Slide 13: Business Services
Business Services Activity growing in countercyclical revenue Mgmt EBITDA ex. Margin Income Revenue breakdown FY20 CC FY19 Actual CC Variance Corporate Trust $92.1 $85.7 +7.5% $32.5m ▼ 0.3% Bankruptcy $51.6 $42.9 +20.3% Class Actions $101.2 $121.1 -16.4% Karvy - $17.0 -100.0% Margin: 17.3% ▲ 150bps
Slide 14: Operating cost analysis
Operating cost analysis Cost in line with expectations – flat, excluding IFRS16, acquisitions and disposals FY20 @ CC FY19 CC Variance FY20 Cost of Sales $378.0 $378.4 -0.1% $371.8 Personnel $1,020.2 $1,009.5 +1.1% $1,004.3 Fixed/Perm $971.3 $951.7 +2.1% $956.2 Variable/Temp $48.9 $57.8 -15.4% $48.1
Slide 15: Cost out programs
Cost out programs Upgraded long term cost savings Benefit realisation (cumulative) $M Total cost savings FY20 change Stage Total Activity estimates FY17A FY18A FY19A FY20A vs. last FY21E FY22E FY23E change vs. last disclosure2 disclosure2 Stage 1 Total 25 - 30 7.8 14.0 21.8 28.1 ▲ 0.5m 28.1 28.1 28.
Slide 16: Cash flow and balance sheet
Cash flow and balance sheet Strong cashflow funds growth and shareholder returns Cashflow Net Debt / EBITDA2 (x) Cashflows and shareholder distributions (US$M) 2.25x Leverage 1.93x target 1.84x 505.9 Acquisitions range Capex MSR 1.75x 1.33x Maintenance MSR Investments1 Dividends 58.9 FY18 FY19 FY20
Slide 17: Medium term operating guidance
Medium term operating guidance Earnings trajectory recovering with improving margins Organic revenue trend Margin outlook Key drivers – ex Margin Income › Delivering on global service model Group 2-5% Modestly increasing › Investing in growth engines and adjacent markets › Progress and extend cost e
Slide 18: Conclusions
Conclusions › Computershare is operating resiliently – prioritising employee welfare and high service levels to customers › Events and market facing businesses now showing some early signs of recovery › Continuing to focus on what we can control. Executing projects, maintaining cost disciplines and
Slide 19: Appendices
APPENDICES Statutory results Management Revenue, EBITDA and EBIT analysis FY20 Management NPAT analysis Management EPS – AUD equivalent Effective tax rate Dividend history and franking Cash Flow analysis Balance Sheet Key financial ratios Debt facility maturity profile IFRS16/AASB16 CAPEX versus dep
Slide 20: Statutory results
Statutory results FY20 FY19 Vs FY19 (pcp) Total Revenues $2,281.2m $2,469.0m -7.6% Total Expenses $1,957.1m $1,939.7m +0.9% Statutory Net Profit (post NCI) $232.7m $415.7m -44.0% Earnings per share (post NCI) 42.97 cents 76.57 cents -43.9% › Management results are used, along with other measures, to
Slide 21: Management adjustment items
Management adjustment items Appendix 4E note 3 Amortisation › Customer relationships and most of other intangible assets that are recognised on business combinations or major asset acquisitions are amortised over their useful life in the statutory results but excluded from management earnings. The a
Slide 22: Management revenue bridge
Management revenue bridge Increased contributions from US Mortgage Services and Employee Share Plans with lower event-based and Margin Income revenues 2,400 2,380 4.5 18.4 2,360 29.6 2.0 1.9 2,356.5 11.6 2,340 45.0 USD million 2,320 2,311.8 2,300 30.6 2,280 2,281.2 2,260 2,240 2,220 Property Rental
Slide 23: Management revenue by business stream
Management revenue by business stream Revenues down 1.9%, +1.1% adjusting for Margin Income and Karvy FY20 @ CC FY19 CC Variance FY20 Issuer Services $907.2 $951.9 -4.7% $894.7 Mortgage Services & Property Rental Services $671.5 $646.1 +3.9% $665.1 Employee Share Plans & Voucher Services $308.0 $307
Slide 24: Revenue and EBITDA by business stream at actual FX rates
Revenue and EBITDA by business stream at actual FX rates FY20 FY20 FY20 FY19 FY19 EBITDA FY19 EBITDA REVENUE EBITDA EBITDA REVENUE MARGIN % MARGIN % Issuer Services $894.7 $260.5 29.1% $951.9 $313.6 32.9% Mortgage Services & Property Rental Services $665.1 $141.2 21.2% $646.1 $150.2 23.3% Employee S
Slide 25: Management revenue and EBITDA at actual FX rates
Management revenue and EBITDA at actual FX rates Revenue by Region EBITDA by Region 2,500.0 2,356.6 800.0 2,300.9 2,281.2 195.2 674.9 214.5 185.8 700.0 646.4 622.6 2,000.0 85.8 600.0 87.0 91.3 1,137.2 500.0 USD millions 1,087.9 USD millions 1,500.0 1,172.0 400.0 366.2 323.5 386.1 1,000.0 104.4 106.9
Slide 26: EBITDA and margins by business stream
EBITDA and margins by business stream EBITDA $650.0m, -3.7% includes IFRS16 benefit Operating Margin FY20 @ CC FY19 CC Variance FY20 @ CC FY19 Issuer Services $263.0 $313.6 -16.1% 29.0% 32.9% Mortgage Services & Property Rental Services $141.4 $150.2 -5.9% 21.1% 23.3% Employee Share Plans & Voucher
Slide 27: Management EBITDA excluding Margin Income and FX increased by 5.1%
Management EBITDA excluding the impact of Margin Income and FX movements increased by 5.1% in FY20 versus pcp 447.0 431.2 425.2 401.7 369.3 355.0 318.7 252.8 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Note: Management EBITDA translated at FY20 average rates and excludes Margin Income. FY20 EBITDA ex MI
Slide 28: EBITDA and Margin Income by business stream
EBITDA and Margin Income by business stream EBITDA ex Margin Income $448.5m FY20 FY20 MI @ FY20 FY19 FY19 MI @ FY19 CC EBITDA @ CC EBITDA ex EBITDA @ CC EBITDA ex Variance CC MI @ CC CC MI @ CC Issuer Services $263.0 $79.3 $183.7 $313.6 $112.4 $201.2 -8.7% Mortgage Services & Property Rental $141.4
Slide 29: Management EBITDA ex Margin Income by business stream
Management EBITDA ex Margin Income by business stream FY20 and FY19 at actual FX rates FY20 FY20 MI FY20 1H20 1H20 MI 1H20 2H20 2H20 MI 2H20 EBITDA EBITDA ex EBITDA EBITDA ex EBITDA EBITDA MI MI ex MI Issuer Services $260.5 $78.7 $181.8 $129.0 $44.4 $84.7 $131.4 $34.3 $97.1 Mortgage Services & Prope
Slide 30: EBIT and Margin Income by business stream
EBIT and Margin Income by business stream FY20 EBIT FY20 MI @ FY20 EBIT FY19 EBIT FY19 MI @ FY19 EBIT CC @ CC CC ex MI @ CC @ CC CC ex MI @ CC Variance Issuer Services $261.0 $79.3 $181.7 $310.6 $112.4 $198.2 -8.3% Mortgage Services & Property Rental $70.5 $53.9 $16.6 $102.5 $58.2 $44.4 -62.6% Servi
Slide 31: FY20 Management NPAT analysis
USD million 31 50 100 150 200 250 300 350 400 450 0 FY19 NPAT 381.4 Mgt EBITDA 20.1 (ex MI) Margin Income 45.0 Dep'n & Amort 65.0 FY20 Management NPAT analysis Interest 0.4 Tax 10.0 Non-controlling 3.1 interest FY20 @ CC NPAT 305.0 FX 1.2 FY20 NPAT 303.8
Slide 32: Management EPS – AUD Equivalent
Management EPS – AUD Equivalent 160 1 0.9139 140 0.8389 0.7758 0.7521 0.8 0.7273 0.7177 120 0.6716 100 Cents per share 0.6 97.87 80 83.56 81.69 75.74 71.31 72.35 0.4 60 65.92 40 0.2 20 0 0 FY14 FY15 FY16 FY17 FY18 FY19 FY20 AUD/USD average exchange rate 32
Slide 33: Effective tax rate
Effective tax rate Statutory and management (at actual FX rates) 35% 29.6% 30% 28.3% 28.2% 26.5% › The Group’s statutory effective tax rate has 25% increased from 20.7% in FY19 to 28.2% in 20.9% 20.7% FY20 20% Tax Rate % › The Group’s management effective tax rate has increased from 26.5% in FY19 to
Slide 34: Dividend history and franking
Dividend history and franking 25.0 23 23 23 20.0 21 21 19 19 17 17 15.0 16 16 15 15 14 10.0 5.0 0.0 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 Dividend (AU cents) Franking (%) 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 20% 20% 20% 25% 100% 20% 30
Slide 35: Cash flow summary at actual FX rates
Cash flow summary at actual FX rates Positive free cash flows, $505.9m, +61.7% FY20 Actual FY19 Actual Net operating receipts and payments $688.1 $585.2 Net interest and dividends ($50.4) ($68.1) Income taxes paid ($43.3) ($105.5) Net operating cash flows excluding SLS advances $594.4 $411.6 Cash ou
Slide 36: Balance Sheet
Balance Sheet Leverage ratio within target range 1.75x – 2.25x Jun-20 Jun-19 Variance Current Assets $1,432.0 $1,501.1 -4.6% › ROE 19.5%, -690 bps reflecting reduced earnings Non Current Assets $3,557.8 $3,183.9 +11.7% › FY20 EBITDA includes IFRS16 benefit of Total Assets $4,989.7 $4,685.0 +6.5% $47
Slide 37: Key financial ratios
Key financial ratios Jun 20 Jun 19 Variance USD m USD m Dec 19 to Jun 19 Interest Bearing Liabilities including SLS advance debt $2,029.8 $2,036.3 -0.3% Less Cash ($597.3) ($561.3) +6.4% Net Debt including non-recourse SLS advance debt $1,432.5 $1,475.0 -2.9% Net debt excluding non-recourse SLS adva
Slide 38: Debt maturity profile
Debt maturity profile Maturity Dates USD million Debt Drawn Committed Debt Facilities Bank Debt Facility Private Placements SLS Advance Facility 800.0 FY21 Aug-20 50.6 125.0 125.0 Dec-20 121.0 225.0 225.0 Mar-21 100.0 100.0 100.0 700.0 Jun-21 6.6 75.0 75.0 318.5 FY22 Feb-22 220.0 220.0 220.0 FY23 Ap
Slide 39: IFRS16/AASB 16 - Leases
IFRS16/AASB 16 - Leases Management EBITDA impact reflected in Corporate & Technology business stream FY20 @ CC IFRS16 @ FY20 FY19 Actual CC Variance FY20 @ IFRS16 @ FY20 CC excluding Actual rates Actual rates excluding IFRS16 @ CC IFRS16 @ Actual rates Management EBITDA $650.0 $48.4 $601.6 $674.9 -1
Slide 40: Capital expenditure versus depreciation
Capital expenditure versus depreciation at actual FX rates 160 77.5 80.0 140 70.0 120 60.0 Depreciation USD millions 100 50.0 Capex USD millions 80 37.5 40.0 32.9 57.2 60 30.0 1.2 12.3 37.3 40 6.6 20.0 4.5 26.8 8.7 1.1 1.0 5.1 20 37.1 3.8 10.0 23.1 16.8 0 0.0 FY18 FY19 FY20 Information Technology Co
Slide 41: Technology costs at actual FX rates
Technology costs at actual FX rates 400 14.0% 12.5% 350 11.4% 12.0% 11.3% Technology costs as a % of revenue 300 286.1 263.0 265.6 14.8 10.0% 10.0 10.0 250 55.9 USD millions 8.0% 75.8 87.9 200 6.0% 150 116.3 103.6 95.4 4.0% 100 50 2.0% 99.2 73.7 72.3 0 0.0% FY18 FY19 FY20 Development Infrastructure
Slide 42: Financial performance by half year at actual FX rates
Financial performance by half year at actual FX rates 2H20 1H20 2H19 1H19 2H18 1H18 2H17 1H17 2H16 1H16 2H15 1H15 2H14 1H14 Total Management Revenue $1,156.9 $1,124.3 $1,228.7 $1,127.8 $1,173.1 $1,127.8 $1,110.8 $1,003.2 $1,035.5 $938.7 $1,016.5 $959.5 $1,045.7 $976.9 Operating Costs $847.3 $787.8 $
Slide 43: FY20 Computershare at a glance
FY20 Computershare at a glance Management revenue @ CC Management EBITDA @ CC Canada ANZ ANZ Canada Asia 8% 9% Asia 4% 13% 7% By geography 5% UCIA 15% $2,311.8m UCIA 24% $650.0m CEU 2% USA 51% CEU 3% USA 59% Communication Corporate & Technology Services & Corporate & Technology Communication 9% Util
Slide 44: High quality core industrial drives consistent operating performance
High quality core industrial drives consistent operating performance EBITDA margin 28.3% including IFRS16 - above 10 year FY performance range; 25.2-30.5%* 3,000 30% 2,500 2,357 2,301 2,281 25% 2,114 2,025 2,023 1,976 1,974 2,000 1,819 542 529 509 20% EBITDA margin Total Revenue 1,619 465 USD millio
Slide 45: Global Register Maintenance and Employee Share Plans revenue
Global Register Maintenance and Employee Share Plans revenue Registry Maintenance @ CC Employee Share Plans @ CC Margin Oth Rev Holder/Broker Income 4% paid 4% 27% Issuer paid FY20 @ CC 67% $673.3m $293.1m Fee 47% Transaction Margin 45% income 6% Oth Rev Holder/Broker Margin 5% paid Income 28% 6% Is
Slide 46: Financial snapshot – US Mortgage Services
Financial snapshot – US Mortgage Services FY20 revenue composition Other Base service fees servicing 35% • Base servicing fees, $238.3m, +17.8% fees 54% • Servicing related fees $46.9m, -0.3% • Other services fees $153.5m, +37.9% $438.7m Servicing related fees 11% Jun-20 Jun-19 Annual Report referen
Slide 47: US and UK Mortgage Services – UPB and number of loans
US and UK Mortgage Services – UPB and number of loans US Mortgage Services UPB up 16.4% ($118.5bn v $101.8bn) Performing Non-performing At 30 Jun 20 At 30 Jun 19 At 30 Jun 20 At 30 Jun 19 Fully-Owned $31.5bn $13.7bn $9.2bn $10.6bn MSRs 1 131K Loans 66K Loans 85K Loans 97K Loans Excess strip deals Ex
Slide 48: Mortgage Services Revenue and EBITDA at actual FX rates
Mortgage Services Revenue and EBITDA at actual FX rates 1H18 2H18 1H19 2H19 1H20 2H20 US Mortgage Services revenue $143.4 $162.7 $159.4 $201.3 $227.3 $211.4 UK Mortgage Services revenue $122.1 $132.9 $128.0 $127.1 $101.6 $95.0 Total Mortgage Services revenue $265.4 $295.6 $287.4 $328.4 $328.9 $306.5
Slide 49: Mortgage services key terms
Mortgage services key terms Performing servicing: Servicing of a mortgage which is less than 30 days delinquent. Typically loans that meet the criteria of the Government Sponsored Entities e.g. “Fannie Mae”, “Freddie Mac”. Non-performing servicing: Servicing of a mortgage that is over 30 days delinq
Slide 50: Business Services revenue
Business Services revenue FY20 @ CC FY19 India Funds Class $17.0 Actions 6% Corporate $101.2 Class Trust 41% Corporate Actions $92.1 Trust $121.1 38% $85.7 46% 32% $244.9m $266.7m Bankruptcy Bankruptcy $51.6 $42.9 21% 16% 50
Slide 51: FY20 Management revenue at actual FX rates
FY20 Management revenue at actual FX rates 600 493.2 500 438.7 400 USD millions 300 226.4 200 175.6 144.8 99.7 102.6 100 79.9 84.6 81.8 74.6 56.5 44.7 32.6 33.8 38.7 12.3 18.8 14.2 8.8 6.7 7.8 2.6 1.4 0.1 0.1 0.1 0 Issuer Services Mortgage Services & Employee Share Plans & Business Services Communic
Slide 52: FY20 Management revenue at actual FX rates
FY20 Management revenue at actual FX rates Issuer Services breakdown 400 361.0 350 300 250 USD millions 200 150 100 79.0 69.6 68.1 54.0 56.2 50 43.8 36.2 27.9 18.3 19.2 16.2 14.3 12.4 6.6 1.5 0.8 6.3 1.0 2.2 0.1 0 Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Serv
Slide 53: Australia
Australia Management revenue: AUD million FY18 FY19 FY20 305.2 294.5 279.7 160.0 142.8 138.4 136.8 140.0 134.5 131.7 121.8 120.0 100.0 80.0 60.0 40.0 19.4 20.1 19.5 20.0 4.5 5.9 3.8 - Issuer Services Employee Share Plans & Voucher Services Communication Services & Utilities Corporate & Technology FY
Slide 54: Australia – Issuer Services
Australia – Issuer Services Management revenue: AUD million FY18 FY19 FY20 138.4 136.8 134.5 120.0 110.0 106.3 105.8 100.0 80.0 60.0 40.0 25.3 27.0 25.3 20.0 0.7 1.4 2.2 2.5 2.1 1.2 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other FY18 FY19 FY20 54
Slide 55: Hong Kong
Hong Kong Management revenue: HKD million FY18 FY19 FY20 716.3 742.5 848.5 700.0 600.2 600.0 535.2 521.2 500.0 400.0 300.0 248.4 221.0 200.0 181.0 100.0 0.1 0.2 -0.1 - Issuer Services Employee Share Plans & Voucher Services Corporate & Technology -100.0 FY18 FY19 FY20 55
Slide 56: Hong Kong – Issuer Services
Hong Kong – Issuer Services Management revenue: HKD million FY18 FY19 FY20 535.2 521.2 600.2 450.0 421.1 406.4 410.5 400.0 350.0 300.0 250.0 200.0 149.7 150.0 104.9 100.0 84.2 50.0 26.5 28.5 23.9 - - 0.9 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - O
Slide 57: India (including Issuer Services breakdown)
India (including Issuer Services breakdown) Management revenue: INR million FY18 FY19 FY20 3,924.4 1,608.6 - 3,500.0 800.0 757.2 3,038.6 700.0 3,000.0 600.0 2,500.0 500.0 2,000.0 400.0 365.8 1,500.0 1,170.9 300.0 1,000.0 885.8 200.0 128.5 500.0 437.7 100.0 72.0 - - Issuer Services Business Services
Slide 58: USA
USA Management revenue: USD million FY18 FY19 FY20 1,087.9 1,137.2 1,175.5 600.0 539.4 531.3 496.2 500.0 438.7 400.0 360.7 306.1 300.0 200.0 136.4 143.7 144.8 100.0 65.1 60.3 57.0 38.4 40.1 38.7 2.6 0.9 0.1 - Issuer Services Mortgage Services & Property Employee Share Plans & Business Services Commu
Slide 59: USA – Issuer Services
USA – Issuer Services Management revenue: USD million FY18 FY19 FY20 539.4 531.3 496.2 400.0 374.0 356.2 361.0 350.0 300.0 250.0 200.0 150.0 93.7 93.5 100.0 76.8 68.1 49.1 50.0 39.2 27.9 12.8 14.8 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other FY
Slide 60: Canada
Canada Management revenue: CAD million FY18 FY19 FY20 272.8 258.7 249.0 160.0 140.0 134.6 120.0 116.0 113.3 106.2 101.6 99.8 100.0 80.0 60.0 40.0 26.8 27.2 25.3 20.0 9.3 9.1 10.4 0.6 0.2 0.1 - Issuer Services Employee Share Plans & Voucher Business Services Communication Services & Utilities Corpora
Slide 61: Canada – Issuer Services
Canada – Issuer Services Management revenue: CAD million FY18 FY19 FY20 101.6 106.2 99.8 90.0 80.0 78.0 77.2 75.3 70.0 60.0 50.0 40.0 30.0 26.0 20.4 21.6 20.0 10.0 3.1 2.9 2.9 - Register Maintenance Corporate Actions Issuer Services - Other FY18 FY19 FY20 61
Slide 62: UK, Channel Islands & Equatex
UK, Channel Islands & Equatex Management revenue: GBP million FY18 FY19 FY20 335.0 423.1 386.8 Mortgage Services Plans including FY18: 189.3m Equatex 250.0 FY19: 196.9m FY18: 55.0m FY20: 156.0m FY19: 107.5m 220.2 FY20: 125.8m 206.6 Vouchers 200.0 FY18: 15.5m 179.6 FY19: 14.5m FY20: 11.5m 150.0 137.3
Slide 63: UK and Channel Islands – Issuer Services
UK and Channel Islands – Issuer Services Management revenue: GBP million FY18 FY19 FY20 51.8 58.6 52.3 45.0 40.9 40.0 38.9 37.5 35.0 30.0 25.0 20.0 15.0 10.0 7.7 4.9 4.9 5.0 5.3 4.7 4.9 4.6 5.0 3.3 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other F
Slide 64: South Africa
South Africa Management revenue: RAND million FY18 FY19 FY20 272.9 282.0 267.7 300.0 267.0 262.8 255.3 250.0 200.0 150.0 100.0 50.0 16.7 14.5 4.4 0.9 0.5 0.5 - Issuer Services Employee Share Plans & Voucher Services Corporate & Technology FY18 FY19 FY20 64
Slide 65: South Africa – Issuer Services
South Africa – Issuer Services Management revenue: RAND million FY18 FY19 FY20 255.3 267.0 262.8 250.0 237.6 223.4 205.5 200.0 150.0 100.0 53.9 50.0 26.7 25.3 1.3 0.5 0.0 3.9 3.6 3.3 - Register Maintenance Corporate Actions Stakeholder Relationshop Management Issuer Services - Other FY18 FY19 FY20 6
Slide 66: Germany
Germany Management revenue: EUR million FY18 FY19 FY20 42.8 46.0 45.5 35.0 30.6 30.0 26.0 25.0 23.9 20.0 15.9 14.8 15.0 13.3 10.0 5.0 4.0 3.9 1.6 0.1 0.1 0.1 - Issuer Services Employee Share Plans & Voucher Services Communication Services & Utilities Corporate & Technology FY18 FY19 FY20 66
Slide 67: Germany – Issuer Services
Germany – Issuer Services Management revenue: EUR million FY18 FY19 FY20 14.8 15.9 13.3 18.0 16.0 15.5 14.3 14.0 12.7 12.0 10.0 8.0 6.0 4.0 2.0 0.5 0.4 0.6 - Register Maintenance Issuer Services - Other FY18 FY19 FY20 67
Slide 68: Breakdown of average client balances for FY20
Breakdown of average client balances for FY20 USD 17.2bn Total balances USD 11.4bn USD 5.8bn Exposed balances Non-exposed balances USD 3.5bn USD 7.9bn Hedged balances Non-hedged balances USD 6.0bn USD 1.9bn USD 3.1bn USD 0.4bn Non-hedged Natural hedge Fixed Rate Deposits Fixed Rate Swaps balances fl
Slide 69: Exposed and non-exposed FY20 and FY19 average balances by business
Exposed and non-exposed FY20 and FY19 average balances by business Margin Income Margin income Business Activity FY20 Balances (USD billions) Business Activity FY19 Balances (USD billions) (USD millions) (USD millions) Exposed Non-exposed Exposed Non-exposed Register Maintenance 2.2 0.7 37.9 Registe
Slide 70: Breakdown of FY20 average exposed balances by currency
Breakdown of FY20 average exposed balances by currency USD exposed balances continue to be the largest component Average exposed balances hedged CAD Average exposed balances prior to hedging 16% Other AUD 4% 3% USD CAD 44% USD 3.5bn 15% (USD 11.4bn x 30%) GBP 40% USD 11.4bn USD (USD 17.2bn x 66%) 48
Slide 71: Profile of our swap and fixed rate deposit book
Profile of our swap and fixed rate deposit book Fixed rate levels reduced via derivate close-out and option structured deposits As at 30 June 2020 4,000 Fixed rate deposits Swaps 3,500 USD million 3,000 2,500 2,000 1,500 1,000 500 0 Jul-20 Jul-21 Jul-22 Jul-23 Jul-24 As at 31 December 2019 4,000 Fix
Slide 72: Profile of floating rate deposits
Profile of floating rate deposits Option structured deposits impacted by curve shifts in 2H20 As at 30 June 2020 USD million 5,000 4,000 3,000 2,000 1,000 0 Jul-20 Jul-21 Jul-22 Jul-23 Jul-24 As at 31 December 2019 5,000 USD million 4,000 3,000 2,000 1,000 0 72 Jan-20 Jan-21 Jan-22 Jan-23 Jan-24
Slide 73: Exchange rates
Exchange rates Currency FY20 1H20 FY19 1H19 FY18 1H18 USD 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 AUD 1.4889 1.4623 1.3933 1.3734 1.2890 1.2863 HKD 7.7999 7.8321 7.8405 7.8371 7.8219 7.8095 NZD 1.5683 1.5504 1.4874 1.4893 1.3977 1.3969 INR 71.9578 70.4405 70.4260 70.6855 64.9732 64.6323 CAD 1.3391
Slide 74: FY20 Previous Business Stream Reporting
FY20 PREVIOUS BUSINESS STREAM REPORTING 74
Slide 75: Explaining the new business streams
Explaining the new business streams › Issuer Services Register Maintenance, Corporate Actions and Stakeholder Relationship Management now form Issuer Services. We have also added our Corporate Governance software products business that provides entity management and board portals solutions, this was
Slide 76: Management revenue by business stream
Management revenue by business stream Business stream FY20 @ CC FY19 Actual CC Variance FY20 Actual Business Services $926.6 $927.4 -0.1% $918.1 Register Maintenance $696.9 $711.2 -2.0% $687.3 Corporate Actions $142.4 $164.3 -13.3% $140.5 Employee Share Plans $292.5 $288.5 +1.4% $289.5 Communication
Slide 77: EBITDA and margins by business stream
EBITDA and margins by business stream FY20 @ CC FY19 Actual CC Variance FY20 EBITDA FY19 Actual Margin in CC EBITDA Business Stream % Margin % Business Services $240.6 $249.7 -3.6% 26.0% 26.9% Register Maintenance & Corporate Actions $273.4 $315.0 -13.2% 32.6% 36.0% Employee Share Plans $58.7 $69.2
Slide 78: EBITDA and Margin Income by business stream
EBITDA and Margin Income by business stream FY20 FY20 FY20 FY19 FY19 FY19 CC EBITDA MI EBITDA EBITDA MI EBITDA Variance Business Stream @ CC @ CC ex MI @ ex MI CC Business Services $240.6 $106.8 $133.8 $249.7 $114.4 $135.3 -1.1% Register Maintenance & Corporate Actions $273.4 $83.1 $190.3 $315.0 $11
Slide 79: Summary
Summary Previous Business Stream FY20 FY20 FY20 FY20 New Business Stream Reporting FY20 FY20 FY20 FY20 Reporting Revenue @ EBITDA @ Revenue EBITDA Revenue @ EBITDA Revenue EBITDA CC CC CC @ CC Register Maintenance 696.9 687.3 273.4 271.1 Corporate Actions 142.4 140.5 Stakeholder Relationship 59.2 3.
Slide 80: Issuer Services
Issuer Services FY20 @ CC FY20 @ CC FY20 FY20 USD M Revenue EBITDA Revenue EBITDA Register Maintenance 696.9 273.4 687.3 271.1 Corporate Actions 142.4 140.5 Stakeholder Relationship Management 59.2 3.6 58.7 3.2 Total (per previous reporting) 898.5 277.0 886.5 274.3 Inclusions Add Governance Services
Slide 81: Business Services
Business Services FY20 @ CC FY20 @ CC FY20 FY20 USD M Revenue EBITDA Revenue EBITDA Business Services (per previous reporting) 926.6 240.6 918.1 233.9 Inclusions Add Bonds/Successor Trustee and Escrow 11.0 6.3 11.0 6.3 Add Other 0.9 -6.0 0.9 -0.7 Removals Less Mortgage Services -640.3 -128.2 -634.8
Slide 82: Employee Share Plans & Voucher Services
Employee Share Plans & Voucher Services FY20 @ CC FY20 @ CC FY20 FY20 USD M Revenue EBITDA Revenue EBITDA Employee Share Plans (per previous reporting) 292.5 58.7 289.5 56.9 Inclusions Add Vouchers 14.9 10.2 14.5 9.9 Add Other 0.6 -2.6 0.6 -1.1 Employee Share Plans & Voucher Services 308.0 66.3 304.
Slide 83: Communication Services & Utilities
Communication Services & Utilities FY20 @ CC FY20 @ CC FY20 FY20 USD M Revenue EBITDA Revenue EBITDA Communication Services (per previous reporting) 167.6 33.7 161.1 32.3 Inclusions Add Utilities 7.8 -0.9 7.3 -0.9 Add Other 0.4 -1.1 0.4 -0.6 Communication Services & Utilities 175.8 31.7 168.8 30.8 8
Slide 84: Mortgage Services & Property Rental Services
Mortgage Services & Property Rental Services FY20 @ CC FY20 @ CC FY20 FY20 USD M Revenue EBITDA Revenue EBITDA Mortgage Services (per previous reporting) 640.3 128.2 634.8 128.3 Inclusions Add Property Rental Services 30.6 14.3 29.8 13.9 Add Other 0.6 -1.1 0.6 -1.1 Mortgage Services & Property Renta
Slide 85: Corporate & Technology
Corporate & Technology FY20 @ CC FY20 @ CC FY20 FY20 USD M Revenue EBITDA Revenue EBITDA Corporate & Technology (per previous reporting) 26.6 40.0 26.0 48.9 Removals Less Governance Services -16.5 4.1 -16.3 4.1 Less Other Issuer Services -3.2 3.6 -3.0 3.4 Less Other Business Services -0.9 6.0 -0.9 0
Slide 86: FY20 Management revenue at actual FX rates
FY20 Management revenue at actual FX rates 700 573.4 600 500 382.8 400 USD millions 254.4 300 158.3 200 83.0 78.5 74.3 74.3 72.0 56.7 56.5 54.1 100 43.1 39.2 38.7 33.8 32.6 19.2 19.0 18.5 15.9 12.3 12.1 11.4 10.1 7.9 7.7 7.3 6.7 6.4 6.4 4.0 3.6 3.7 1.8 1.5 0.0 0.0 0.0 0.0 0.0 0.0 0 Register Maintena
Slide 87: Australia
Australia Management revenue: AUD million FY18 FY19 FY20 305.2 294.5 279.7 140.0 130.5 119.6 120.0 110.3 110.6 107.5 106.1 100.0 80.0 60.0 40.0 25.3 27.0 25.3 19.3 20.0 19.4 20.0 12.3 12.1 10.9 6.9 7.0 5.2 0.7 1.3 2.2 0.0 Register Maintenance Corporate Business Stakeholder Employee Share Plans Commu
Slide 88: Hong Kong
Hong Kong Management revenue: HKD million FY18 FY19 FY20 716.3 742.5 848.5 450.0 421.9 406.5 410.8 400.0 350.0 300.0 248.4 250.0 221.0 200.0 181.0 149.7 150.0 104.9 100.0 84.2 50.0 26.5 28.5 23.9 0.0 Register Maintenance Corporate Stakeholder Relationship Mgt Employee Share Plans Actions FY18 FY19 F
Slide 89: India
India Management revenue: INR million FY18 FY19 FY20 3,924.4 1,608.6 - 3,500.0 2,961.6 3,000.0 2,500.0 2,000.0 1,500.0 1,137.7 1,000.0 836.8 500.0 401.1 125.9 69.8 0.0 Register Maintenance Corporate Business Actions Services FY18 FY19 FY20 89
Slide 90: USA
USA Management revenue: USD million FY18 FY19 FY20 Mortgage Services 1,087.9 1,137.2 1,175.5 FY18: 306.1m FY19: 361.2m FY20: 438.9m 700.0 600.0 573.4 494.9 500.0 434.4 400.0 382.2 382.8 363.1 300.0 200.0 98.0 99.5 100.0 74.3 76.8 65.1 60.3 56.5 49.1 39.2 38.4 40.1 38.7 12.2 11.1 10.6 0.0 Register Ma
Slide 91: Canada
Canada Management revenue: CAD million FY18 FY19 FY20 272.8 258.7 249.0 140.0 133.2 120.0 114.5 111.2 100.0 79.4 78.3 80.0 75.9 60.0 40.0 25.7 26.7 27.0 24.8 20.0 21.3 20.0 9.2 9.0 10.3 4.4 4.2 5.6 0.0 Register Maintenance Corporate Business Employee Share Plans Communication Services Corporate & Te
Slide 92: UK, Channel Islands & Equatex
UK, Channel Islands & Equatex Management revenue: GBP million Mortgage FY18 FY19 FY20 Services FY18: 188.7m 335.0 420.6 386.8 FY19: 195.7m FY20: 155.4m 300.0 247.6 250.0 222.3 201.8 200.0 150.0 125.5 107.3 100.0 55.0 50.0 41.2 43.2 39.7 3.3 7.7 4.6 4.9 5.0 5.3 4.7 5.0 5.3 3.5 4.7 4.6 0.0 Register Ma
Slide 93: South Africa
South Africa Management revenue: RAND million FY18 FY19 FY20 272.9 282.0 267.7 300.0 250.0 241.7 228.8 209.4 200.0 150.0 100.0 53.9 50.0 26.1 25.3 16.7 14.5 1.3 0.5 0.0 4.4 0.0 Register Maintenance Corporate Stakeholder Relationship Mgt Employee Share Plans Actions FY18 FY19 FY20 93
Slide 94: Germany
Germany Management revenue: EUR million FY18 FY19 FY20 42.8 46.0 45.5 35.0 30.5 30.0 26.0 25.0 23.9 20.0 15.5 15.0 14.3 12.7 10.0 5.0 4.0 3.9 1.6 0.6 0.6 0.7 0.0 Register Maintenance Employee Share Plans Communication Services Corporate & Technology FY18 FY19 FY20 94
Slide 95: Important notice
Important notice Summary information • This announcement contains summary information about Computershare and its activities current as at the date of this announcement. • This announcement is for information purposes only and is not a prospectus or product disclosure statement, financial product or