Excelsior Capital Ltd · ASX:ECL
Excelsior Capital — Shareholder Meeting (November 2016)
17 slides from Excelsior Capital's shareholder meeting presentation, Nov 23, 2016
Slide 1: Annual General Meeting Presentation
Annual General Meeting Presentation 23 November 2016 SYDNEY
Slide 2: Disclaimer
Disclaimer This document, and any constituent or associated presentation, information or material (collectively, the Material), is not (and does not form part of) an offer, solicitation, invitation or recommendation in respect of any securities and neither the Material nor any part of it will form t
Slide 3: CMI Limited Overview: CMI Electrical
CMI Limited Overview CMI Electrical CMI Electrical specialises in the design and manufacture of specialty plugs and couplers, electrical cables, sourcing and supply of niche electrical cables, high voltage cables, flexible cables and flameproof junction boxes. This division services the mining secto
Slide 4: FY16 Earnings Summary
FY16 Earnings Summary • Electrical earnings lower due to a $m FY16 FY15 Change 6% revenue reduction and a Revenue (a) 40.8 64.9(b) (37%) change in sales mix impacting EBITDA 5.3 8.5 (38%) margins EBITDA Margin 13% 13% • Prior year includes “one‐off” Depreciation & (0.5) (1.3) 63% contributions to NP
Slide 5: FY16 Divisional & Half on Half Summary
FY16 Divisional & Half on Half Summary Electrical Corp FY16 $m $m $m Revenue 40.0 0.8 40.8 EBITDA 5.9 (0.6) 5.3 EBITDA margin % 15% 13% EBIT 5.4 (0.6) 4.8 Operating PBT 5.4 (0.6) 4.8 Tax (1.4) Reported NPAT 3.4 Electrical Revenue* Electrical EBIT* Page 5 * Excludes corporate and discontinued operati
Slide 6: Balance Sheet & Dividend Policy
Balance Sheet & Dividend Policy • Strong balance sheet and capacity to generate cash – Net cash $26.7m – Net Tangible Assets $1.18 per share – Capital Return $10.5m paid in December 2015 • Dividends – Payout ratio policy allows up to 60% of profits to be paid out – 3 cent fully franked dividend paid
Slide 7: Quarterly Update & Outlook
Quarterly Update & Outlook Page 7
Slide 8: September 2016 Quarter
September 2016 Quarter • Revenue is down on the September quarter of the prior year by approximately 12% • Performance for the September quarter is above last year slightly due to improved product margins and overhead reductions • Continued challenging trading conditions are expected for the electri
Slide 9: Market Analysis - Electrical
Market Analysis ‐ Electrical • Mining and Resources sector – Challenges expected to continue in the medium term – CMI mining product is a market leading safety related product with an overhaul life cycle of 4 years which often leads to sales – Continued product development of flameproof products for
Slide 10: Capital Management
Capital Management • A Capital Return of $0.30 per share, approximately $10.5m in total was paid to shareholders in December 2015 • Fully franked dividends of 6 cents paid in equal instalments of 3 cents in March and September 2016 • Off-market Buy-back proposal announced 18 November 2016 of up to 1
Slide 11: Change of Nature
Change of Nature • Shareholder approval sought to – change the nature of the company’s activities to an Investment Entity – change the company name to Excelsior Capital Limited • Prospectus and EGM Notice announced on 18 November 2016 • EGM to be held on 21 December 2016 Page 11
Slide 12: AGM Formal Business
AGM Formal Business Page 12
Slide 13: Financial Report
Formal Business Financial Report To receive and consider the financial report of the Company and the reports of the Directors and Auditors for the year ended 30 June 2016. Page 13
Slide 14: Remuneration Report
Formal Business Remuneration Report Resolution 1. To consider and, if thought fit, pass the following as a non-binding ordinary resolution: ‘That the Company’s Remuneration Report for the financial year ended 30 June 2016 is approved.’ Proxies Received Voted % For 1,125,248 47.86 Against 648,747 27.
Slide 15: Election of Director
Formal Business Election of Director Resolution 2. To consider and, if thought fit, pass the following as an ordinary resolution: ‘That Mr Steven Miotti, having been appointed a Director since the last annual general meeting of the Company, in accordance with the Constitution, ceases to hold office
Slide 16: Election of Director
Formal Business Election of Director Resolution 3. To consider and, if thought fit, pass the following as an ordinary resolution: ‘That Mr Craig Green, having been appointed a Director since the last annual general meeting of the Company, in accordance with the Constitution, ceases to hold office an
Slide 17: Thank you for your attendance.
Thank you for your attendance. Page 17
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