Computershare Limited · ASX:CPU
Computershare — H1 2009 Earnings Presentation
74 slides from Computershare's earnings presentation, Feb 11, 2009
Slide 1: Half Year Results 2009 Presentation
Computershare Limited Half Year Results 2009 Presentation Stuart Crosby Peter Barker 11 February 2009
Slide 2: Introduction, Financial Results, CEO's Report
Introduction Financial CEO’s Report Results 2
Slide 3: Introduction – Stuart Crosby, President & CEO
Introduction Stuart Crosby President & CEO 3
Slide 4: Results Highlights
Results Highlights Introduction 1H09 vs 2H 08 vs 1H 08 Management earnings per share 26.14 cents up 8% down 4% Operating revenues $783.0m down 1% down 1% Operating costs $544.1m down 5% up 2% Management EBITDA $238.6m up 8% down 7% EBITDA margin 30.5% + 260bps - 220bps Management net profit after OE
Slide 5: Computershare Strengths
Computershare Strengths Introduction › Strong balance sheet, low gearing and robust cash generation › More than 70% of revenue recurring in nature › Revenues, cash-flows and margins holding up very well despite the challenging environment › Continued strong investment in R&D and product development
Slide 6: Outlook
Outlook Introduction Unchanged from the AGM – we expect USD management earnings per share for financial year 2009 to be about the same as last year, perhaps marginally behind. This assumes equity, interest rate and FX market conditions remain broadly consistent with current levels for the rest of th
Slide 7: Introduction, Financial Results, CEO's Report
Introduction Financial CEO’s Report Results 7
Slide 8: Financial Results – Peter Barker, CFO
Financial Results Peter Barker CFO 8
Slide 9: Drivers behind financial performance
Drivers behind financial performance › Corporate action environment › Interest rate levels › Balances › Acquisitions › Cost reductions and operating efficiencies › Foreign exchange › Balance sheet management 9
Slide 10: Group Financial Performance – US$m
Group Financial Performance – US$m Financial Results Variance Variance 1H09 to 1H09 to 1H09 2H08 2H08 1H08 1H08 Sales Revenue 772.7 784.2 (1%) 779.8 (1%) Interest & Other Income 10.3 10.1 2% 8.5 22% Total Revenue 783.0 794.3 (1%) 788.2 (1%) Operating Costs 544.1 573.6 (5%) 532.4 2% Share of Net (Pro
Slide 11: Management EPS Performance
Management EPS Performance Financial Results Rolling 12 months US cents 60 50 40 30 20 10 0 1H05 1H06 1H07 1H08 1H09 11
Slide 12: Analysis of Management EPS – Half Year Comparison
Analysis of Management EPS – Financial Half Year Comparison Results US cents 30.00 25.00 20.00 15.00 10.00 5.00 0.00 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 6.60 9.52 8.82 13.92 17.86 18.83 27.36 24.25 26.14 12
Slide 13: HY09 Management NPAT Analysis
HY09 Management NPAT Analysis Financial Results $USm 1 EBITDA - EMEA 2 Tax 3 OEI 4 Depn & Amort 5 Interest 6 EBITDA - AP 7 EBITDA - NA 13
Slide 14: Net Operating Cash Flows
Net Operating Cash Flows Financial Results $USm Operating Cash Flow Vs. Capital Expenditure 240 206.2 210 183.5 180 159.9 150 137.5 141.1 117.8 120 90 65.8 60 30 24.0 14.6 17.9 18.8 10.4 12.6 7.8 0 1H06 2H06 1H07 2H07 1H08 2H08 1H09 O pe rat ing Cash Flow s Capit al Expe ndit ure 14
Slide 15: Free Cash Flow
Free Cash Flow Financial Results $USm Operating Cash Flows less Capital Expenditure 200 187.4 Free Cash Flow: - 3 year 1H CAGR 42% - 5 year CAGR 55% 165.6 147.3 150 129.7 117.1 107.4 100 51.3 50 0 1H06 2H06 1H07 2H07 1H08 2H08 1H09 15
Slide 16: Half Year Comparisons – Revenue & EBITDA
Half Year Comparisons – Revenue & EBITDA Financial Results $USm 900 300 257. 4 750 238. 6 2 50 R 221. 8 E e B v 600 188. 7 181. 7 200 I e T n D u 4 50 140. 4 150 A e 99. 7 300 10 0 150 50 694. 0 783. 0 588. 1 626. 7 724. 4 788. 2 794. 3 0 0 1H0 6 2 H0 6 1H0 7 2 H0 7 1H0 8 2 H0 8 1H0 9 To t al Revenu
Slide 17: Half Year Comparisons – Revenue & EBITDA
Half Year Comparisons – Revenue & EBITDA Financial Results $USm 1st Half $USm $USm 2nd Half $USm 800 300 800 300 257.4 700 238.6 700 250 250 221.8 600 600 188.7 200 181.7 200 500 500 400 150 140.4 400 150 300 300 100 100 200 200 694.0 788.2 783.0 50 50 100 100 626.7 724.4 794.3 0 0 0 0 1H07 1H08 1H0
Slide 18: Management EBITDA Margin
Management EBITDA Margin Financial Results 35% 32.7% 30.5% 30% 27.2% 27.9% 25% 22.4% 25.1% 20.4% 20% 18.5% 17.0% 15% 10% 1H05 2H05 1H06 2H06 1H07 2H07 1H08 2H08 1H09 18
Slide 19: Revenue Breakdown – US$m
Revenue Breakdown – US$m Financial Results Variance Variance 1H09 to 1H09 to 1H09 2H08 2H08 1H08 1H08 Register Maintenance 386.0 411.1 (6%) 406.5 (5%) Corporate Actions 155.2 134.2 16% 169.4 (8%) Fund Services 36.2 49.6 (27%) 41.7 (13%) Stakeholder Relationship Mgt 35.9 49.1 (27%) 39.9 (10%) Employe
Slide 20: Margin Income analysis
Margin Income analysis Financial Results US$m 140 123.4 120 100 94.1 89.7 86.4 84.0 80 65.3 60 52.1 40 20 0 1H06 2H06 1H07 2H07 1H08 2H08 1H09 Average interest rates: UK 4.55% 4.50% 4.78% 5.31% 5.71% 5.19% 4.16% US 3.70% 4.66% 5.25% 5.25% 4.85% 2.67% 1.53% Canada 2.79% 3.77% 4.25% 4.25% 4.45% 3.51%
Slide 21: Regional Analysis – 1H09 Revenue & EBITDA
Regional Analysis – 1H09 Revenue & EBITDA Financial Results Total Revenue Breakdown EBITDA Breakdown 23% 30% 39% 42% 28% 38% Asia Pacific EMEA North America Asia Pacific EMEA North America 21
Slide 22: Half Year Comparisons – Operating Costs
Half Year Comparisons – Operating Costs Financial Results $USm 600 500 147.4 139.7 137.4 138.9 137.0 144.5 133.2 400 300 426.2 200 404.9 395.4 406.7 355.2 367.4 345.0 100 0 1H06 2H06 1H07 2H07 1H08 2H08 1H09 Operating Costs excl. COS Cost of Sales (COS) 22
Slide 23: Technology Costs – Continued Investment to Maintain Strategic Advantage
Technology Costs – Continued Investment to Financial Maintain Strategic Advantage Results US$m % 100 12% 11% 90 10% 10% 10% 10% 9% 80 9% 82.7 80.1 77.1 70 70.3 8% 60 61.7 59.1 56.4 50 40 4% 30 20 10 0 0% 1H06 2H06 1H07 2H07 1H08 2H08 1H09 T ot al T echnology cost s T echnology cost s as a % of sales
Slide 24: Analysis of 1H09 Technology Costs
Analysis of 1H09 Technology Costs Financial Results 5% 22% 45% Total Costs US$82.7m Development Costs US$36.6m 28% Development Infrastructure Maintenance Administration 24
Slide 25: Analysis of Technology Costs
Analysis of Technology Costs Financial Results $USm 100 4.4 80 3.1 18.5 1.4 21.9 1.7 60 20.3 23.2 29.2 21.8 40 18.9 9.3 20 36.6 30.3 18.8 21.1 0 1H06 1H07 1H08 1H09 Development Infrastructure Maintenance Admin 25
Slide 26: Balance Sheet as at 31 December 2008
Balance Sheet as at 31 December 2008 Financial Results Variance Variance Dec-08 Jun-08 Dec-08 to Dec-07 Dec-08 to US$'000s US$'000s Jun-08 US$'000s Dec-07 Current A ssets 439,046 516,129 (15%) 369,763 19% Non Current A ssets 1,754,871 1,721,889 2% 1,520,793 15% T otal A ssets 2,193,917 2,238,018 (2%
Slide 27: Key Financial Ratios
Key Financial Ratios Financial Results EBITDA interest coverage Net Financial Indebtedness to EBITDA times times 14 3.0 12.1 11.9 12 11.5 2.48 10.4 2.5 10 8.7 2.0 1.72 1.68 1.64 8 1.5 6 0.94 1.0 4 2 0.5 0 0.0 FY05 FY06 FY07 FY08 1H09* FY05 FY06 FY07 FY08 1H09* * Rolling 12 months 27
Slide 28: Computershare Borrowings
Computershare Borrowings Financial Results Dec-08 Jun-08 Variance Dec-07 Variance US$m US$m Dec-08 to US$m Dec-08 to Jun-08 Dec-07 Cash 155.7 124.2 25% 108.0 44% Interest Bearing Liabilities * 947.2 910.9 4% 747.4 27% Net Debt 791.6 786.7 1% 639.3 24% Management EBITDA ** 460.4 479.2 (4%) 439.1 5% N
Slide 29: Debt Facility Maturity Profile
Debt Facility Maturity Profile Financial Results Debt Facility Debt Maturity Profile Facility (USD $m) utilised FY09 nil nil US$m FY10 200.0 nil FY11 600.0 402.7 FY12 123.0 123.0 700 FY13 nil nil 600.0 FY14 nil nil 600 FY15 124.5 124.5 FY16 nil nil 500 FY17 21.0 21.0 FY18 nil nil 400 FY19 235.0 235.
Slide 30: Capital Expenditure
Capital Expenditure Financial Results Capital Expenditure Vs. Depreciation $USm 25 2.6 Other Occupancy Communication Services Facilities 20 0.6 Information T echnology 0.6 4.8 Depreciation 0.8 3.0 15 2.5 7.9 2.2 2.2 0.5 0.5 3.0 10 4.1 1.6 1.1 1.9 3.8 13.9 1.4 12.1 0.9 5 2.3 8.8 7.2 7.6 5.0 2.9 0 1H0
Slide 31: Working Capital Management
Working Capital Management Financial Results Days Sales Outstanding Days 60 53 50 45 45 44 43 40 37 38 30 20 10 0 1H06 FY06 1H07 FY07 1H08 FY08 1H09 31
Slide 32: Return On Invested Capital Vs. WACC and Return on Equity
Return On Invested Capital Vs. WACC and Financial Return on Equity Results 42% 36% 30% 24% 18% 12% 6% FY 06 FY 07 1H08 FY 08 1H09 WACC ROIC ROE 32
Slide 33: Equity Management – Interim Dividend of 11 cps (AU)
Equity Management – Interim Dividend Financial Results of 11 cps (AU) › EPS – Basic US 23.55 cents › EPS – Management US 26.14 cents › Interim Dividend (40% franked) AU 11 cents › Current Yield* 3.4% * Based on 12 month dividend and share price of A$6.52 (close 10 February 2009) 33
Slide 34: Financial Summary – Final Remarks
Financial Summary – Final Remarks Financial Results › Maintained revenues, margins and EPS › Continued solid generation of free cash flow › Maintained strong balance sheet › Disciplined cost management › Return on equity >35% › Dividend maintained at 11 cents (AUD) per share, 40% franked 34
Slide 35: Market Overview
Market Financial CEO’s Report Overview Results 35
Slide 36: CEO Presentation – Stuart Crosby
CEO Presentation CEO’s Report Stuart Crosby President & CEO 36
Slide 37: Group Strategy
Group Strategy CEO’s Report Long term strategy unchanged: › Continue to drive operations quality and efficiency through measurement, benchmarking and technology › Improve our front office skills to protect and drive revenue › Continue to seek acquisition and other growth opportunities where we can a
Slide 38: Delivery against long term strategy
Delivery against long term strategy CEO’s Report Delivering on the first 2 limbs of the long term strategy (cost and revenue) has been a key factor in protecting our profits and margins in these challenging times: › operational productivity continues to improve across the globe (eg, increasing self
Slide 39: Delivery on the opportunity to lift our market position
Delivery on the opportunity to lift our market position › We are consolidating our leading market position by releasing a range of new and enhanced products around the world. › We continue to invest in R&D (1H09 R&D spend USD 36.6M, up 20% on 1H08). › Third party shareholder and investor satisfactio
Slide 40: Other key points at a group level
Other key points at a group level › The strong US dollar continues to drag on non-US markets contribution to reported earnings (GBP and AUD down > 20%, CAD down > 12% since August 08). › Credit spreads have reduced, cutting slippage in interest rate hedges (natural and synthetic). › Operating margin
Slide 41: North America update - USA
North America update - USA CEO’s Report Investor Services › Client retention remains strong off the back of robust service delivery › Benefiting from investment in and rationalisation of “business as usual” capacities over past 12 to 18 months › Strong cost management materially mitigates the collap
Slide 42: North America update - Canada
North America update - Canada CEO’s Report Investor Services › BCE not proceeding reduced 1H09 result › Strong cost management and delivery of operational improvements protecting performance › Benefiting from quality client relationships Corporate Trust › Steady business with excellent margin, and h
Slide 43: EMEA update – UK, Russia, Germany, Ireland and South Africa
EMEA update – UK, Russia, Germany, Ireland CEO’s and South Africa Report UK › CIS performing strongly, with good revenues from recapitalisation transactions › Deposit Protection Scheme continues to exceed expectations › Busy Bees integration going well – targets being met or exceeded › Plans – marke
Slide 44: Asia Pacific update - Asia
Asia Pacific update - Asia CEO’s Report Hong Kong and China › HK IPOs have dried up › Working to expand service offering to investors › Beijing office now established and PRC Plans service being relocated there from Sydney Japan › Joint venture with MUTB continues to perform well › Working on expand
Slide 45: Asia Pacific update – Australia and New Zealand
Asia Pacific update – Australia and CEO’s New Zealand Report Investor Services › Good news continues: better margins, a range of positive pricing outcomes › OK corporate action flows, but most capital raising in placements, not broader offers › Steady flow of new product being well received – custod
Slide 46: Half Year Results 2009 Presentation
Computershare Limited Half Year Results 2009 Presentation Stuart Crosby Peter Barker 11 February 2009
Slide 47: Appendix
Appendix: Half Year Results 2009 Presentation 11 February 2009 47
Slide 48: Appendix 1: Group Comparisons
Appendix 1: Group Comparisons Group Comparisons 48
Slide 49: Behind the Headline – NPAT Impact
Behind the Headline – NPAT IMPACT Financial Results US$000’s Net profit after tax at 31 December 2008 130,871 Redundancy provisions 4,813 Acquisition provisions no longer required (642) VEM asset write-downs 14,025 Profits on sales of controlled entities and business units (6,857) Marked to market a
Slide 50: CPU Revenues
CPU Revenues Financial Results Revenue Type 4% 11% 7% Register Maintenance Corporate Actions Fund Services 5% 48% Stakeholder Relationship Management Employee Share Plans Communication Services 5% Technology & Other Revenue 20% 50
Slide 51: Regional Analysis – 1H09 Revenue
Regional Analysis – 1H09 Revenue Financial Results $USm 250 200 194.6 150 100 94.6 96.8 ` 69.0 68.8 54.5 50 31.8 25.7 20.8 17.2 14.2 19.6 13.8 9.4 12.7 8.9 5.3 9.2 6.6 1.6 4.4 0 Register Corporate Actions Fund Services Stakeholder Employee Share Communication Technology & Other Maintenance Relations
Slide 52: Half Year Comparisons - Revenue
Half Year Comparisons - Revenue Financial Results $ USm 411.1 450 406.5 386.0 375.8 350.1 400 350 300 250 169.4 155.2 200 132.8 134.2 119.7 150 83.5 74.2 100 60.0 60.9 58.2 58.9 59.0 54.1 52.7 49.6 49.1 44.4 41.8 41.7 39.9 38.5 36.2 35.9 37.2 34.2 32.0 29.5 27.3 23.8 20.4 50 0 Register Co rpo rate F
Slide 53: Half Year Comparisons – Operating Costs
Half Year Comparisons – Operating Costs Financial Results $USm 300 261.9 251.5 240.5 239.7 250 218.8 200 147.5 139.7 138.9 137.4 137.0 150 100 82.2 79.7 76.7 70.1 61.3 41.9 38.6 35.6 35.3 33.4 50 31.7 30.5 28.9 27.4 23.4 23.4 20.9 17.9 16.5 12.6 0 Cost of Sales Personnel Occupancy Other Direct Techn
Slide 54: Underlying Effective Tax Rate
Underlying Effective Tax Rate Financial Results % 35.0 30.0 28.5 26.4 25.0 25.0 23.9 19.4 20.0 15.0 10.0 5.0 0.0 FY 05 FY06 FY 07 FY08 1H09 54
Slide 55: Interest Rate Sensitivity
Interest Rate Sensitivity Financial Results US$m PBT 80 Impact 60 40 20 0 -3.00% -2.50% -2.00% -1.50% -1.00% -0.50% Current 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% -20 -40 -60 Exposure Hedged exposure -80 This graph outlines the sensitivity of northern hemisphere interest rate changes when measured agai
Slide 56: Risk Management - Interest Rate Sensitivity
Risk Management - Interest Rate Sensitivity Financial Results Interest Rate Hedging No Strategy: - Protect downside risk in current interest rate exposure environment 27% Exposure to Policy: - Minimum hedge of 25% / Maximum hedge of interest 100%* rates * Board approved 35% - Minimum term 1 year / M
Slide 57: Risk Management – Average Funds Balances
Risk Management – Average Funds Balances Financial for the six months ending 31 December 2008 Results By Category By Country Sharesave/ Employee Dividend Australia Plans 17% US 3% 9% 22% Dissenter Broker 3% Trust 17% Canada 50% Corporate Regular UK Actions Trust 25% 32% 22% Average funds balance US$
Slide 58: Appendix 2: Country Summaries
Appendix 2: Country Summaries Financial Results Country Summaries 58
Slide 59: Appendix 2: Country Summaries – Asia Pacific
Appendix 2: Country Summaries Financial Results Asia Pacific 59
Slide 60: Australia Half Year Comparison
Australia Half Year Comparison Financial Results $Am Total Revenue $Am Revenue Breakdown 250 90 84.0 221.5 80 76.7 74.9 200 70 66.8 173.6 63.4 63.2 152.9 60 150 143.2 136.5 50 47.4 40 35.7 35.0 100 34 28.7 28.1 30 25.2 24.7 21.0 20 50 11.2 9.5 8.7 10 8.6 8.2 7.8 7.5 7.2 6.9 6.8 5.6 5.5 4.9 3.8 3.0 3
Slide 61: Hong Kong Half Year Comparison
Hong Kong Half Year Comparison Financial Results Total Revenue Revenue Breakdown $HKm $HKm 500 350 441.1 300.3 450 300 400 350 250 300 200 177.6 161.4 250 227.1 235.4 212.2 140.7 150 126.0 195.9 123.4 200 109.4 103.5 150 100 50.8 100 50 18.3 50 0 0 1H07 2H07 1H08 2H08 1H09 Register Maintenance Corpo
Slide 62: India Half Year Comparison
India Half Year Comparison Financial Results Total Revenue Revenue Breakdown INRm INRm 622.3 1200 650 1,060.0 600 538.4 1000 550 500 836.1 812.2 800 450 381.2 400 582.2 350 309.8 600 287.0 270.6 276.9 533.2 300 261.8 257.9 216.3 250 400 179.8 200 121.2 150 200 100 46.3 33.4 50 20.8 0 0 1H07 2H07 1H0
Slide 63: New Zealand Half Year Comparison
New Zealand Half Year Comparison Financial Results $NZm Total Revenue $NZm Revenue Breakdown 10 8 8.6 7.0 8.4 8.1 8.1 6.4 6.4 8 6.3 5.9 6 6.9 6 4 4 2.0 2 1.8 1.7 1.6 2 1.0 0 0 Register Maintenance Corporate Actions 1H07 2H07 1H08 2H08 1H09 1H07 2H07 1H08 2H08 1H09 63
Slide 64: Appendix 2: Country Summaries – North America
Appendix 2: Country Summaries Financial Results North America 64
Slide 65: United States Half Year Comparison
United States Half Year Comparison Financial Results Total Revenue $USm $USm Revenue Breakdown 299.4 300 296.7 280.9 200 263.2 250 157.2 231.7 149.4 150 136.7 133.7 200 125.7 150 100 66.2 100 45.5 45.4 44.4 50 42.6 38.4 33.1 30.5 50 28.8 27.9 25.9 24.9 21.6 21.3 20.8 20.6 19.1 13.7 12.7 11.8 12.1 11
Slide 66: Canada Half Year Comparison
Canada Half Year Comparison Financial Results $CAm Total Revenue $CAm Revenue Breakdown 130 90 120 116.1 114.6 81.8 108.5 110 76.4 80 76.0 104.1 74.7 96.2 100 70 63.6 90 60 80 70 50 60 40 50 27.5 30 24.1 40 21.4 17.4 30 20 14.4 20 7.9 10 7.6 7.2 6.7 6.6 5.1 4.1 3.2 2.9 2.6 10 1.5 1.5 1.5 1.2 1.2 0.7
Slide 67: Appendix 2: Country Summaries – EMEA
Appendix 2: Country Summaries Financial Results EMEA 67
Slide 68: United Kingdom Half Year Comparison
United Kingdom Half Year Comparison Financial Results Revenue Breakdown Total Revenue GBPm GBPm 40 37.7 90 86.5 33.6 32.5 80 30.4 29.7 29.6 30 70 60 57.1 53.7 55.5 50.4 50 20 40 11.8 30 10.6 10.4 10.4 9.8 9.4 9.3 10 8.2 20 4.7 10 2.7 2.7 2.4 2.1 1.8 1.8 1.6 1.5 1.5 1.4 1.4 1.1 1.0 0.8 1 0 0 Register
Slide 69: Ireland Half Year Comparison
Ireland Half Year Comparison Financial Results Total Revenue EURm EURm Revenue Breakdown 6 4 3.4 4.9 3.2 3.0 4.5 4.4 4.2 2.9 3 4.1 2.7 3.4 3 2 1.5 1 0.8 0.7 0.7 0.7 0.5 0.5 0.5 0.4 0.2 0.1 0.1 0 0 Register Maintenance Corporate Actions Funds Services Technology & Other Revenue 1H07 2H07 1H08 2H08 1H
Slide 70: Germany Half Year Comparison
Germany Half Year Comparison Financial Results Revenue Breakdown EURm Total Revenue EURm 11 .6 12 35 31.2 11 9.8 30 10 9 8.6 24.8 8.2 25 8 7.7 7 .4 7.2 7.0 19.3 7 20 19 17.4 6 5.7 5.7 5.5 5 .2 5.0 15 5 4 .1 4 3.6 10 2 .9 3 1 .8 2 5 0 .8 1 0 .7 0.6 0.5 0.5 0.5 0.4 0.4 0.3 0.3 0.1 0.1 0.1 0 0 1H07 2H0
Slide 71: South Africa Half Year Comparison
South Africa Half Year Comparison Financial Results Total Revenue ZARm Revenue Breakdown ZARm 160 120 1 1 2 .8 110 1 0 2 .3 140 136.1 1 0 0 .5 100 8 7 .6 120 115.2 113.1 90 8 1 .5 99.7 80 100 87.7 70 80 60 50 60 40 40 30 2 3 .3 20 1 2 .9 1 2 .6 1 2 .1 20 10 6 .3 0 0 1H07 2H07 1H08 2H08 1H09 Register
Slide 72: Russia Half Year Comparison
Russia Half Year Comparison Financial Results Total Revenue RUBm Revenue Breakdown RUBm 292.9 300 284.5 300 2 7 7 .4 272.6 2 5 5 .6 2 4 7 .7 250 250 200 200 1 7 9 .8 179.8 150 150 128.5 1 2 8 .5 100 100 50 3 6 .8 50 1 7 .0 1 5 .6 0 0 1H07 2H07 1H08 2H08 1H09 Register Maintenance Corporate Actions 1H
Slide 73: Appendix 3: Assumptions
Appendix 3: Assumptions Financial Results Assumptions 73
Slide 74: Assumptions: Exchange Rates
Assumptions: Exchange Rates Financial Results Average exchange rates used to translate profit and loss to US dollars. USD 1.0000 AUD 1.22137 HKD 7.78347 NZD 1.48857 INR 45.13201 CAD 1.08330 GBP 0.55332 EUR 0.69183 ZAR 8.39167 RUB 24.96159 74