Euroz Hartleys Group Limited · ASX:EZL
Euroz Hartleys — Euroz — Investor Presentation (February 2019)
20 slides from Euroz Hartleys's investor presentation, Feb 14, 2019
Slide 1: Investor Presentation February 2019
INVESTOR PRESENTATON For personal use only February 2019
Slide 2: Company Snapshot
COMPANY SNAPSHOT For personal use only Euroz is a growing and diversified financial services company GROUP FUM MARKET CAPITALISATION HALF YEAR DIVIDEND STEADY $1.425b $179m 1.75cps 1 1 CASH & INVESTMENTS $213m FULLY FRANKED DIVIDENDS $115.4m 1 IN 19 YEARS A strong platform for future diversification
Slide 3: Group Structure
GROUP STRUCTURE For personal use only Investor Presentation – February 2019 3
Slide 4: Euroz Limited Ownership
EUROZ LIMITED OWNERSHIP For personal use only Increasingly diversified share register Ice Cold Investments 6% Institutions 16% Staff ownership of 39% Retail 39% Increasing institutional ownership Improving liquidity Performance Rights Plan = ongoing capital management Directors 26% Staff 13%
Slide 5: Historical Share Price / NTA
HISTORICAL SHARE PRICE / NTA For personal use only Solid NTA Growth $3.00 Strong balance sheet/zero debt Defensive in difficult markets $2.50 Historical leverage in good markets Western Australia economy and commodity prices improving but volatile $2.00 NTA (A$) $1.50 $1.00 $0.50 $0.00 2005
Slide 6: Audited Half Year Result to December 2018
AUDITED HALF YEAR RESULT TO 31 DECEMBER 2018 For personal use only Underlying “cash” profits of $6.8 million after tax were offset by -$8.9 million “non-cash”after tax losses from mark to market investments NET LOSS AFTER TAX UNDERLYING CASH PROFIT 1ST HALF DIVIDEND STEADY 1 11 1 $-2.1m $6.8m 1.75cp
Slide 7: Historical Profitability
HISTORICAL PROFITABILITY For personal use only Resource and commodity markets improving but remain volatile due to global events $50 7000 $41.9 6000 $40 Small Resources Index (XSR) $31.3 5000 $30 $26.3 $26.6 $26.6 $22.2 4000 NPAT1 (A$m) $20 $19.4 $16.8 3000 $11.8 $11.1 $9.2 $10.3 $10 2000 $3.6 $0 10
Slide 8: Dividend History
DIVIDEND HISTORY For personal use only Euroz has paid $213 million in fully franked dividends in 19 years Annual Dividend Paid Cumulative Dividend paid PAST: A$m 220 Paid $213m dividends over 37 consecutive half year periods 200 High payout ratio 180 FUTURE: 160 Aim to increase the base level
Slide 9: Stockbroking & Corporate Finance
STOCKBROKING & CORPORATE FINANCE For personal use only Euroz Securities - 19 year history of partnering and supporting clients through research, dealing and corporate finance services Quality equities research is the foundation of our business Research Highly rated research from our team of six
Slide 10: Stockbroking & Corporate Finance: Major Transactions
STOCKBROKING & CORPORATE FINANCE For personal use only Major calendar year equity market transactions Investor Presentation – February 2019 10
Slide 11: Wealth Management
WEALTH MANAGEMENT For personal use only Entrust Private Wealth Management - 16 year track record Combines its deep knowledge of managed discretionary advice, financial planning and portfolio management with its portfolio administration service to create a comprehensive wealth management solution f
Slide 12: Funds Management: Westoz
FUNDS MANAGEMENT For personal use only Westoz Funds Management – “Finding the Best in the West” 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 Investm
Slide 13: Funds Management: Prodigy Investment Partners
FUNDS MANAGEMENT For personal use only 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 Flinders Investment Partners (Flinders) was launched in July 2015
Slide 14: Euroz Balance Sheet as at December 2018
EUROZ BALANCE SHEET AS AT 31 DECEMBER 2018 For personal use only Improving balance sheet Strong balance sheet/zero debt Recycle Prodigy fund investments over time Market Valuation: $57m – $64m enterprise value Cost Market Look through value1 Westoz $39.0m $36.0m $38.3m Ozgrowth $27.7m $23.2m $
Slide 15: Funds Under Management
FUNDS UNDER MANAGEMENT For personal use only Strong organic FUM growth from a diverse range of businesses $1,500 Equus ($3m) Funds Management $1,250 $318m WIC ($147m) OZG ($68m) $1,000 Flinders ($19m) A$m $750 Entrust Wealth Management Dalton Street ($81m) $809m $500 Entrust ($809m) Euroz ($298m) $2
Slide 16: Half Year Result Summary
HALF YEAR RESULT SUMMARY For personal use only Euroz Group Summary Solid performance from Euroz Securities Group FUM steady at $1.425 billion Lower WIC and OZG share prices affecting reported profitability Net loss after tax (attributable to members) of -$2.1m Underlying “cash” profit of $
Slide 17: Trading Update (Cont'd)
TRADING UPDATE (CONT’D) For personal use only Prodigy Investment Partners Sales team continues good progress into retail platform market Building good relationships with consultants and platforms New partnership with Equus Point Capital Flinders Investment Partners Excellent continued invest
Slide 18: Summary
SUMMARY For personal use only Euroz is a growing and diversified financial services company Solid underlying first half Established track record provides result / dividend steady solid platform for growth A robust & growing balance Diversification strategy continues sheet Investor Presentation – Feb
Slide 19: Disclaimer & Disclosure
DISCLAIMER & DISCLOSURE For personal use only 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
Slide 20: Thank You
THANK YOU For personal use only Euroz Limited Level 18 Alluvion 58 Mounts Bay Rd Perth Western Australia 6000 euroz.com