Oppenheimer Holdings, Inc. · NYSE:OPY
Oppenheimer — Q3 2019 Earnings Presentation
18 slides from Oppenheimer's earnings presentation, 2019
Slide 1: Oppenheimer Holdings Inc. Third Quarter 2019 Investor Update
Oppenheimer Holdings Inc. Third Quarter 2019 Investor Update
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation and other written or oral statements made from time to time by representatives of Oppenheimer Holdings Inc. (the “company”) may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of
Slide 3: Table of Contents
Table of Contents I. Company Overview II. Business Unit Update Wealth Management Capital Markets III. Financial Overview IV. Summary 3
Slide 4: I. Company Overview
I. Company Overview 4
Slide 5: Business Overview
Business Overview Oppenheimer is a leading investment bank and full-service investment firm that provides financial services and advice to high net worth investors, individuals, businesses and institutions. Oppenheimer Snapshot (as of 9/30/19) $737.5 million $27.5 million Net Income for YTD 9-30-19
Slide 6: II. Business Unit Update
II. Business Unit Update 6
Slide 7: Wealth Management
Wealth Management* Well recognized brand and one of the few independent, non-bank broker-dealers with full service capabilities RETAIL SERVICES ADVISORY SERVICES ALTERNATIVE INVESTMENTS – Hedge Funds and Fund-of-Funds – Full-Service Brokerage – Investment Policy Design & – Private Equity – Financial
Slide 8: Capital Markets
Capital Markets A leading capital markets business providing sophisticated investment banking, research and trading solutions INSTITUTIONAL EQUITIES INVESTMENT BANKING FIXED INCOME – Sales and Trading – Mergers & Acquisitions – Taxable Fixed Income – Equity Research – Equity Capital Markets – Non-Ta
Slide 9: Select 3Q-19 Investment Banking Transactions
Select 3Q-19 Investment Banking Transactions $1,160,000,000 $603,750,000 $350,000,000 $258,750,016 Technology Technology Healthcare Healthcare IPO IPO Convertible Senior Notes Follow-On Co-Manager Co-Manager Co-Manager Lead Manager September 2019 September 2019 September 2019 August 2019 $845,000,00
Slide 10: III. Financial Overview
III. Financial Overview 10
Slide 11: Summary Operating Results: 3Q-19 (Unaudited)
Summary Operating Results: 3Q-19 (Unaudited) ($000’s) For the 3-Months Ended Highlights REVENUE 9-30-19 9-30-18 % Change Commissions $ 78,627 $ 79,678 (1.3) Advisory fees higher due to higher Advisory fees 80,887 78,154 3.5 assets under management at Investment banking 21,798 28,328 (23.1) 6/30/19
Slide 12: Summary Operating Results: YTD 9/30/19 (Unaudited)
Summary Operating Results: YTD 9/30/19 (Unaudited) ($000’s) For the 9-Months Ended Highlights REVENUE 9-30-19 9-30-18 % Change Commissions $ 238,932 $ 245,935 (2.8) Year-to-date revenues up over 3% Advisory fees 235,241 232,972 1.0 Retail transaction-based revenues Investment banking 81,847 84,4
Slide 13: Select Financial Measures
Select Financial Measures Net Income ($mm) Return on Equity (%) Earnings per Share ($) Shareholders’ Equity 13
Slide 14: Capital Structure
Capital Structure Conservative risk profile with strong balance sheet Liquidity & Capital As of September 30, 2019 ($ in thousands) The Company redeemed $50 million (25%) of its 6.75% Senior Secured Notes due 2022 ("Notes") on August 25, 2019 plus Total Assets: $2,203,488 accrued and unpaid intere
Slide 15: Historical Financial Ratios
Historical Financial Ratios Consolidated Adjusted EBITDA ($mm) Long-Term Debt to Consolidated Adjusted EBITDA (x) 1.8x* Consolidated Adjusted EBITDA Margin (%) Interest Coverage (x) 6.3x 15
Slide 16: IV. Summary
IV. Summary 16
Slide 17: In Summary...
In Summary… Firm’s operating results have significantly improved over the last few years Business model is low risk and well diversified with low leverage Building momentum in investment banking business Increasing shift from transaction-based business to fee-based business Declining inter
Slide 18: For more information contact Investor Relations
For more information contact Investor Relations at info@opco.com 2794171.1