BKI Investment Co. Ltd. · ASX:BKI
BKI Investment — H1 FY2024 Earnings Presentation
25 slides from BKI Investment's earnings presentation, Jan 16, 2024
Slide 1: BKI Investment Company Results Presentation
For personal use only BKI Investment Company Results Presentation For the half year ended 31 December 2023
Slide 2: Disclaimer
Disclaimer For personal use only This material has been prepared by Contact Asset Management on behalf of BKI Investment Company Limited. The information within this document is not intended to provide advice to investors or take into account an individual’s financial circumstances or investment obj
Slide 3: Contents
Contents For personal use only 1. Half Year Results Summary 2. Performance 3. Celebrating 20 Years 4. Portfolio Positioning 5. Equity Market Overview 3
Slide 4: Half Year Results Summary
For personal use only Half Year Results Summary Results Presentation For the half year ended 31 December 2023
Slide 5: 2024 Half Year Results
2024 Half Year Results For the half year ended 31 December 2023 For personal use only 1H FY24 1H FY23 Movement Result excluding special investment revenue ($m) ($m) (%) Ordinary Revenue from Investment Portfolio $32.42 $35.77 -9% Total Revenue - Ordinary $34.95 $36.30 -4% Operating Result (before ta
Slide 6: 2024 Half Year Results
2024 Half Year Results Following the record result announced in the first half of FY2023, BKI has delivered a solid EPS and For personal use only Net Operating Result during the first half of FY2024. First Half Net Operating Result First Half Earnings Per Share (before special dividends) (before spe
Slide 7: Years of Strong Dividends
20 Years of Strong Dividends BKI has a strong history of paying fully franked dividends and offering an attractive yield. For personal use only BKI Dividend History – 20 Years 5.00 1H 2024 Ordinary Dividend of 4.00 3.00 3.85cps up 4% on last year. 2.00 1.00 0.00 Ordinary Dividends per Share Special
Slide 8: Corporate Actions
Corporate Actions For personal use only Acquisition of Unlisted Investment Company • Completed the acquisition of an unlisted investment company with net assets of approximately $16 million. • BKI has now completed several transactions of this nature, benefiting existing BKI shareholders by increasi
Slide 9: Performance
For personal use only Performance Results Presentation For the half year ended 31 December 2023
Slide 10: Performance - Total Shareholder Return (TSR)
Performance - Total Shareholder Return (TSR) As at 31 December 2023 For personal use only Total Shareholder Returns (TSR) 15.0% 13.5% 11.6% 11.8% 11.6% 10.9% 10.4% 10.3% 10.2% 10.3% 10.0% 9.3% 8.0% 5.2% 5.0% 0.0% 1 Year 3 Yrs pa 5 Yrs pa 10 Yrs pa 15 Yrs pa 20 Yrs pa BKI Total Shareholder Returns -
Slide 11: Investor Focused: Pre-Tax NTA Premium/Discount
Investor Focused Pre-Tax NTA Premium/Discount – 20 Year History For personal use only As at 31 December 2023 Over the last 10 years, BKI has reduced $1.90 30% $1.80 the Pre-Tax NTA Discount through: $1.70 $1.60 20% • Increased Size $1.50 $1.40 • Increased Scale $1.30 10% $1.20 • Increased Liquidity
Slide 12: Celebrating 20 Years
For personal use only Celebrating 20 Years Results Presentation For the half year ended 31 December 2023
Slide 13: Celebrating 20 Years
Celebrating 20 Years As at 31 December 2023 For personal use only During BKI’s 20 years, the Company has realised some notable achievements. • The number of BKI shareholders has grown 119% from 7,832 in 2003 to 17,170. • Total Assets have grown from $171.2 million to $1.4 billion. In addition to gro
Slide 14: Investor Focused: Management Expense Ratio
Investor Focused BKI has an investor focused approach. Higher fees don’t automatically translate into better returns. For personal use only History of BKI’s Management Expense Ratio (MER) Cumulative Share Price Returns We know that small fees have positive impacts on Assuming all dividends were rein
Slide 15: Investor Focused: Shareholder Communication
Investor Focused BKI continues to be very active, constantly increasing communication levels with Shareholders For personal use only Weekly NTA NTA and Contact Quarterly Investor Annual Update Monthly Report Insights Report Presentations Report Sign up for News and Information from BKI and Contact A
Slide 16: Portfolio Positioning
For personal use only Portfolio Positioning Results Presentation For the half year ended 31 December 2023
Slide 17: Portfolio Movements
Portfolio Movements As at 31 December 2023 For personal use only Main Purchases Sales Add Exit 17
Slide 18: Quality Portfolio: BKI's Top Investments
Quality Portfolio For personal use only BKI’s Top 10 Investments 1 2 3 4 5 6 7 8 9 10 18
Slide 19: Portfolio Positioning – Top 25
Portfolio Positioning – Top 25 As at 31 December 2023 For personal use only Stock % of Total Portfolio Stock % of Total Portfolio 1 BHP Group 9.9% 14 Harvey Norman Holdings 2.3% 2 Macquarie Group 8.2% 15 Ramsay HealthCare 2.1% 3 Commonwealth Bank 7.7% 16 TPG Telecom Limited 2.0% 4 National Australia
Slide 20: Overweight / Underweight Positions
Overweight / Underweight Positions As at 31 December 2023 For personal use only Overweight Positions Underweight Positions Company Active Weight Company Active Weight Macquarie Group 5.5% CSL Limited (5.4)% APA Group 5.2% Fortescue Metals (3.2)% New Hope Group 4.4% Westpac Bank (3.2)% National Austr
Slide 21: Sector Analysis – Active Weight and Exposure
Sector Analysis – Active Weight and Exposure As at 31 December 2023 For personal use only BKI Portfolio: Active Weight by Sector BKI Portfolio: Exposure by Sector Real Estate, 2.7% Cash 6.8% Health Care, 5.2% Banks, 15.3% Energy 5.4% Utilities, 5.7% Utilities 4.2% Consumer Discretionary 3.1% Consume
Slide 22: Equity Market Overview
For personal use only Equity Market Overview As at 31 October 2023
Slide 23: Equity Market Overview
Equity Market Overview As at 31 December 2023 For personal use only The Australian economy was more resilient in 2023 than many might have expected. The much-feared mortgage cliff has, to date, failed to eventuate and, while consumer confidence dropped, actual retail sales numbers were reasonable. T
Slide 24: Equity Market Overview
Equity Market Overview As at 31 December 2023 For personal use only Despite this, the market has continued to pare back earnings forecasts for FY24, with margins continuing to be squeezed and the ability of many companies to push through price increases becoming more challenging. However, recent com
Slide 25: BKI Investment Company contact details
For personal use only BKI Investment Company info@bkilimited.com.au +61 2 7251 6242 Suite 302, Level 3, 1 Castlereagh Street, Sydney NSW
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